AHPIA-2017/12/19ANAHEIM HOUSING AND PUBLIC IMPROVEMENTS AUTHORITY
REGULAR MEETING OF DECEMBER 19, 2077
The Anaheim Housing and Public Improvements Authority regular meeting was called to order
at 5:58 P.M. in the Downtown Anaheim Community Center, Assembly Hall located at 250 East
Center Street, Anaheim, California for a joint public comment session with the Anaheim City
Council, Successor Agency to the Anaheim Redevelopment Agency, Anaheim Public Financing
Authority, and Anaheim Housing Authority. The meeting notice, agenda and related materials
were duly posted on December 15, 2017.
PRESENT: Chairman Tom Tait and Authority Members: James Vanderbilt, Kris Murray, Denise
Barnes, Jose F. Moreno, Lucille Kring, and Stephen Faessel.
STAFF PRESENT: Interim City Manager Linda Andal, Acting City Attorney Kristin Pelletier and
Acting Secretary Theresa Bass.
ADDITIONS/DELETIONS TO THE AGENDA: None.
PUBLIC COMMENTS:
No public comments offered related to the Housing and Public Improvements Authority agenda.
At 7:39 P.M., the Housing and Public Improvements Authority meeting was recessed and
reconvened at 7:40 P.M. in joint session with the City Council and the Anaheim Public Financing
Authority to address Item No. 4.
ANAHEIM HOUSING AND PUBLIC IMPROVEMENTS AUTHORITY/ ANAHEIM CITY
COUNCIL/ ANAHEIM PUBLIC FINANCING AUTHORITY
END OF CONSENT CALENDAR
4. Consider a resolution of the Housing and Public Improvements Authority and a
B137.1 resolution of the City Council, each separately, authorizing the issuance of Anaheim
Housing and Public Improvements Authority Sewer Revenue Bonds, Series 2018, in an
aggregate principal amount not to exceed $54,000,000, and a resolution of the Public
Financing Authority authorizing the execution and delivery of an Escrow Agreement
related to Sewer Revenue Bonds, Series 2007.
Housing and Public Improvements Authority Action:
4-A. RESOLUTION NO. AHPIA 2017-004 A RESOLUTION OF THE BOARD
OF DIRECTORS OF THE ANAHEIM HOUSING AND PUBLIC IMPROVEMENTS
AUTHORITY authorizing the issuance of Anaheim Housing and Public
Improvements Authority Sewer Revenue Bonds, Series 2018, in an aggregate
principal amount of not to exceed $54,000,000, authorizing the execution and
delivery of an Indenture, an Installment Purchase Agreement and a Bond
Purchase Agreement, authorizing the distribution of a Preliminary Official
Anaheim Housing and Public Improvements Authority Minutes of December 19, 2017
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Statement and an Official Statement in connection therewith and authorizing
other matters related thereto.
City Council Action:
4-B. RESOLUTION NO. 2017-176 A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF ANAHEIM authorizing the execution and delivery of an
Installment Purchase Agreement, a Bond Purchase Agreement and a Continuing
Disclosure Agreement in connection with the issuance by the Anaheim Housing
and Public Improvements Authority of its Anaheim Housing and Public
Improvements Authority Sewer Revenue Bonds, Series 2018, approving the form
of an Indenture pursuant to which said bonds are to be issued, authorizing the
distribution of a Preliminary Official Statement and an Official Statement in
connection therewith and authorizing other matters related thereto.
Public Financing Authority Action:
4-C. RESOLUTION NO. APFA 2017-003 A RESOLUTION OF THE BOARD
OF DIRECTORS OF THE ANAHEIM PUBLIC FINANCING AUTHORITY
authorizing the execution and delivery of an Escrow Agreement and authorizing
other matters related thereto (Sewer Revenue Bonds, Series 2007 to fund sewer
system improvements throughout the City).
Finance Director Debbie Moreno presented the item, reporting all three separate resolutions
were part of the proposed refunding of the 2007 Sewer Revenue Bonds. Currently, there were
approximately $40.5 million in outstanding bonds with an average interest rate of 4.72%. An
opportunity exists to refund the debt with the same maturity date of February 1, 2039 and save
approximately $5 million in future interest payments. In conjunction with the refunding, staff is
seeking approval to borrow an additional $15 million to complete more sewer system
improvements throughout the City. The funds will be repaid over a period of no more than 30
years. When combining the annual savings of the prior debt and the debt service requirement
for the new projects, the annual debt service would only increase by approximately $300,000 or
10%.
Housing and Public Improvements Authority Action:
MOTION: Housing and Public Improvements Authority Member Kring moved to adopt
RESOLUTION NO. AHPIA 2017-004 A RESOLUTION OF THE BOARD OF
DIRECTORS OF THE ANAHEIM HOUSING AND PUBLIC IMPROVEMENTS AUTHORITY
authorizing the issuance of Anaheim Housing and Public Improvements Authority Sewer
Revenue Bonds, Series 2018, in an aggregate principal amount of not to exceed $54,000,000,
authorizing the execution and delivery of an Indenture, an Installment Purchase Agreement and
a Bond Purchase Agreement, authorizing the distribution of a Preliminary Official Statement and
an Official Statement in connection therewith and authorizing other matters related thereto,
seconded by Housing and Public Improvements Authority Murray. ROLL CALL VOTE: AYES —
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7: (Chairman Tait and Authority Members: Vanderbilt, Murray, Barnes, Moreno, Kring, and
Faessel). NOES — 0. Motion carried.
City Council Action:
MOTION: Council Member Kring moved to adopt RESOLUTION NO. 2017-176 A
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM authorizing the execution
and delivery of an Installment Purchase Agreement, a Bond Purchase Agreement and a
Continuing Disclosure Agreement in connection with the issuance by the Anaheim Housing and
Public Improvements Authority of its Anaheim Housing and Public Improvements Authority
Sewer Revenue Bonds, Series 2018, approving the form of an Indenture pursuant to which said
bonds are to be issued, authorizing the distribution of a Preliminary Official Statement and an
Official Statement in connection therewith and authorizing other matters related thereto,
seconded by Council Member Murray. ROLL CALL VOTE: AYES — 7: (Mayor Tait and Council
Members: Vanderbilt, Murray, Barnes, Moreno, Kring, and Faessel). NOES — 0. Motion
carried.
Public Financing Authority Action:
MOTION: Public Financing Authority Member Barnes moved to adopt RESOLUTION NO.
APFA 2017-003 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
ANAHEIM PUBLIC FINANCING AUTHORITY authorizing the execution and delivery of an
Escrow Agreement and authorizing other matters related thereto (Sewer Revenue Bonds,
Series 2007 to fund sewer system improvements throughout the City), seconded by Public
Financing Authority Member Kring. ROLL CALL VOTE: AYES — 7: (Chairman Tait and
Authority Members: Vanderbilt, Murray, Barnes, Moreno, Kring, and Faessel). NOES — 0.
Motion carried.
ADJOURNMENT:
There being no further business, without objection, Chairman Tait adjourned the meeting of the
Anaheim -Housing and Public Improvements Authority at 7:46 P.M.
EZespectfully,submitted,
Assistant Secretary, Anaheim Housing and Public Improvements Authority