10/9/2007 - City Council Minutes - CC Minutes Reg Meeting
APPROVED BY THE DIRECTORS ON OCTOBER 23, 2007
ORANGE REDEVELOPMENT AGENCY ORANGE, CALIFORNIA
MINUTES OF A REGULAR MEETING October 9, 2007
The Orange Redevelopment Agency of the City of Orange, California convened on October 9,
2007 at 4:30 p.m. in a Regular Meeting in the Council Chambers, 300 E. Chapman Avenue,
Orange California.
4:30 P.M. SESSION
1. ROLL CALL
PRESENT - Smith, Murphy, Cavecche, Dumitru, Bilodeau
ABSENT - None.
2. PUBLIC COMMENTS - NONE.
3.1 Request Agency confirmation of warrant registers dated September 6 and 13, 2007.
ACTION:
Approved.
3.2 Request approval of Redevelopment Agency Minutes, Regular Meeting of
September 25, 2007. (RC2500.D.4)
ACTION:
Approved.
MOTION -
SECOND -
AYES
Dumitru
Murphy
Smith, Murphy, Cavecche, Dumitru, Bilodeau
All items on the Consent Calendar were approved as recommended.
END OF CONSENT CALENDAR
********
4. REPORTS FROM DIRECTORS - None.
5. REPORTS FROM BOARDS, COMMITTEES, AND COMMISSIONS - None.
6. REPORTS FROM EXECUTIVE DIRECTOR - None.
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ORANGE REDEVELOPMENT AGENCY MINUTES
October 9,2007
7. ADMINISTRATIVE REPORTS
7.1 Report on core financing team and Consultant Services Agreements for professional
and technical services in connection with the issuance and re-financing of bonds to fund the
costs of certain public improvements within or benefiting the Orange Merged and
Amended Redevelopment Project Area. (RA2100.0 Agr-5157; 5158; 5159; 5160)
SUMMARY: This is the first step in contracting for the core financing team that will be needed
to start the process for the eventual issuance of Redevelopment bonds to fund various public
improvements and to refinance existing Redevelopment bonds at a lower interest rate. In order
to commence the bond issuance process, the Agency requires the services of a Financial Advisor,
Bond Counsel, Disclosure Counsel and a Fiscal Consultant. All of these consultants will be paid
from the proceeds of the bonds; provided, however, that in the event no bonds are issued the
Orange Redevelopment Agency will be responsible to pay the fees for services incurred by the
Fiscal Consultant.
Staff requested a continuance of this item to November 27,2007.
MOTION - Murphy
SECOND - Smith
AYES - Smith, Murphy, Cavecche, Dumitru, Bilodeau
Moved to continue to November 27,2007.
8. LEGAL AFFAIRS - None.
9. RECESS TO CLOSED SESSION
Note: The Agency did not recess.
a. To consider and take possible action upon such other matters as are orally announced by the
General Counsel, Executive Director of the Board of Directors prior to such recess unless the
motion to recess indicates any of the matters will not be considered in Closed Session.
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ORANGE REDEVELOPMENT AGENCY MINUTES
October 9,2007
10. ADJOURNMENT - The Agency adjourned at 7:05 p.m.
Declaration of the Clerk of the Orange Redevelopment Agency, Mary E. Murphy, declaring
posting of Orange Redevelopment Agency Agenda of a regular meeting of October 9, 2007 at
Orange Civic Center kiosk, Police facility at 1107 North Batavia, and the Main Public Library
at 407 E. Chapman; all of said locations being in the City of Orange and freely accessible to
members of the public at least 72 hours before commencement of said regular meeting.
HE
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