HomeMy WebLinkAboutCC Minutes 2021-09-15 44 CITY COUNCIL
MINUTES
Cathedral City
Special Meeting
Wednesday, September 15, 2021
2:00 PM
Pursuant to executive order N-35-20 and N-08-28, this meeting was conducted by
videoconference.
• CALL TO ORDER
The meeting was called to order at 2:00 PM by Mayor Raymond Gregory.
• ROLL CALL
Attendee Name Title Status Arrived
Raymond Gregory Mayor Remote
Ernesto Gutierrez Mayor Pro Tem Remote
Mark Carnevale Councilmember Remote
Rita Lamb Councilmember Remote
Nancy Ross Councilmember Remote
• AGENDA FINALIZATION
1. AGENDA ITEMS
A. Pension Obligation Bonds
Recommendation: 1) Adopt Resolution No. 2021-28 to authorize the
issuance and delivery of taxable Pension Obligation
Bonds to refund all or part of the City's Unfunded
Accrued Liability with CaIPERS with certain financial
parameters and to approve the form of a Trust
Agreement; and
2) Approve the proposed finance team of Norton Rose
Fulbright US LLP (bond counsel/disclosure counsel),
Fieldman Rolapp (municipal advisor), and Raymond
James & Associates, Inc. (underwriter) and authorize
the City Manager or Authorized Representative to
execute agreements with such companies; or
3) Alternatively, discuss and take other actions related to
these items.
Reso 2021-28
M.O. 2021-133
A motion was made by Councilmember Carnevale and seconded by Councilmember
Lamb to adopt a Resolution to authorize the issuance and delivery of taxable
Pension Obligation Bonds to refund all or part of the City's Unfunded Accrued
Liability with Ca/PERS with certain financial parameters and to approve the form of a
Trust Agreement; and Approve the proposed finance team of Norton Rose Fulbright
US LLP (bond counsel/disclosure counsel), Fieldman Rolapp (municipal advisor)
and Raymond James & Associates, Inc. (underwriter) and authorize the City
Manager or Authorized Representative to execute agreements with such companies.
RESULT: APPROVED [UNANIMOUS]
MOVER: Mark Carnevale, Councilmember
SECONDER: Rita Lamb, Councilmember
AYES: Gregory, Gutierrez, Carnevale, Lamb, Ross
2. CLOSED SESSION
City Attorney Eric Vail announced that the City Council will meet in Closed Session
to discuss the following item listed on the Agenda. He also indicated that the City
Council will be adjourning to Closed Session and that he will report out on the
Closed Session item at the following City Council meeting, which will be held on
September 29, 2021.
A. Conference with Real Property Negotiator Pursuant to Government Code
Section 54956.8.
Property Location: Approximately 13.5 acres southwest corner of East
Palm Canyon Drive and Date Palm Drive
Negotiating Parties: City of Cathedral City as the Successor Agency to
the former Redevelopment Agency and the City
Urban Revitalization Corporation
Property Owner: City Urban Revitalization Corporation
Under Negotiations: Price and Terms for potential sale of real property
ADJOURN
Mayor Raymond Gregory adjourned the Special Meeting of September 15, 2021 at 3:33
PM to Closed Session.
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