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Home My WebLink AboutPFC - Newport Beach Public Facilities CorporationCITY OF NEWPORT BEACH ADMINISTRATIVE SERVICES DEPARTMENT Resource Management Division July 17,1995 TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: Dennis Danner, Administrative Services Director SUBJECT NEWPORT BEACH PUBLIC FACILITIES CORPORATION DISCUSSION: The City of Newport Beach Public Facilities Corporation was originally formed to sell the Cannery Village Certificates of Participation (COPs) for the acquisition and construction of the Cannery Village Parking Lot. The Corporation's role was expanded in 1992 to allow for the issuance of COPs to construct the new Central Library with a principal amount of $7,500,000. The COPs for the Cannery Village Parking lot were paid off during fiscal year 1994-95. The Library COPs were issued for 25 years and will reach final maturity on June 1, 2019. The approximate annual debt service for the Library COPs is $580,000. The current outstanding principal balance of the Library COPs is $7,235,000. Bank of America serves as Trustee and Paying Agent for the Library COPS, however, they are in the process of selling their corporate trust services so the Corporation's Trustee and Paying Agent will most likely change before the end of this calendar year. The Bylaws of the Corporation call for an annual meeting of the Board of Directors. The City Council sits as the Board, with the City Manager serving as Secretary, and the Finance Director serving as Treasurer. Normally, the Mayor will serve as Chairperson of the Board, with the Mayor Pro-Tem serving as Vice -Chairperson. RECOMMENDATION: It is recommended the City Council convene the meeting of the City of Newport Beach Public Facilities Corporation for the 1995-96 fiscal year, elect officers, and receive and file this brief financial report. CORP.DOC 06/07/93 4:44 PM NEWPORT BEACH PUBLIC FACILITIES CORPORATION AGENDA July 24,1995 Central Library 1. Call the meeting to order. The meeting will be called to order by Chairperson of the Board. 2. Election of Officers. The Chairperson of the Board shall call for Election of the Officers of the Board. Normally the Mayor will serve as Chairperson and the Mayor Pro-Tem will serve as Vice - Chairperson. The Assistant City Manager normally serves as Treasurer of the Corporation. 3. Financial Report by the Treasurer of the Corporation. The Treasurer will give a brief financial report on the activities of the Corporation. 4. Adjourn. Minutes of Newport Beach Public Facilities Corporation July 24,1995 The meeting was called to order by Chairman John Hedges at 4:35 p.m. in the Community Room of the Newport Beach Central Library. Roll Call: All present. The City Manager stated that the City of Newport Beach Public Facilities Corporation was originally formed to sell the Cannery Village Certificates of Participation (COPS) for the acquisition and construction of the Cannery Village Parking Lot. The Corporation's role was expanded in 1992 to allow for the issuance of the COPS to construct the new Central Library with a principal amount of $7,500,000. The COPS for the parking lot were paid off during fiscal year 1994-95. The Library COPs were issued for 25 years and will reach final maturity on June 1, 2019. The Bylaws of the Corporation call for an annual meeting of the Board of Directors. The City Council sits as the Board. Council Member Cox nominated the Mayor as Chairperson of the Board, Mayor Pro Tem as Vice - Chairperson, City Manager as Secretary, and Finance Director as Treasurer. Motion was made by Council Member Edwards to approve the above slate of officers. The motion was unanimously carried. Following a brief financial report by the Treasurer, the meeting adjourned at approximately 4:45 p.m. 0 OF , w Q m im&lff ornia ° rr r" r P O Box 944230 Sacramento, CA 94244-0230 yyy}}}�� jy�j Phone (916) 445-2020 CA(IFO RNery- ��1l zirV o}r Matt STATEMENT BY DOMESTIC NONPROFIT CORPORATION THIS STATEMENT MUST BE FILED WITH CALIFORNIA SECRETARY OF STATE (SECTIONS 6210, 8210, 9660 CORPORATIONS CODE) THE $5 FILING FEE MUST ACCOMPANY THIS STATEMENT. C1821481 FB DUE DATE 05-31-93 C409ON NEWPORT BEACH PUBLIC FACILITIES CORPORATION P 0 BOX 1768 NEWPORT BEACH, CA 92659-1768 DO NOT ALTER PREPRINTED NAME. IF ITEM t IS BLANK, PLEASE ENTER CORPORATE NAME I DO NOT WRITE IN THIS SPACE THE CALIFORNIA CORPORATION NAMED HEREIN, MAKES THE FOLLOWING STATEMENT 2. STREET ADDRESS OF PRINCIPAL OFFICE (IF NONE. COMPLETE 3-38) SUITE OR ROOM 2A. 2B, 3300 Newport Boulevard Newport Beach, CA 92663 (DO NOT USE P.O. BOX NO.) CITY AND STATE ZIP CODE 3. MAILING ADDRESS SUITE OR ROOM 3A. 3B. P. 0. Box 1768 Newport Beach, CA 92659- 1768 CITY AND STATE ZIP CODE THE NAMES OF THE FOLLOWING OFFICERS ARE: 4. Kevin Murphy3300 4A. City Manager's Off ice 4B. 4C. Newport Boulevard Newport Beach, CA 92663 CHIEF EXECUTIVE OFFICER BUSINESS OR RESIDENCE ADDRESS (DO NOT USE P.O. BOX) CITY AND STATE ZIP CODE 5. Wanda Raggio 5A. City Clerk's Office SB. SC. 3300 Newport Boulevard Newport Beach CA 92663 SECRETARY BUSINESS OR RESIDENCE ADDRESS (DO NOT USE P.O. BOX) CITY AND STA`If E ZIP CODE Dennis Danner Finance Department CHIEF FINANCIAL OFFICER BUSINESS OR RES00 IDENCE Boulevard (DONOTUSE P.O. BOX) NewportBep CA CHIEF 94L�.E DESIGNATED AGENT FOR SERVICE OF PROCESS �AOAD ITEMS � CALIFORNIADE OF CO` ,8ON,FML) 7. NAME Wanda Raggio 8. CALIFORNIA STREET ADDRESS IF AGENT IS AN INDIVIDUAL (DO NOT USE P.O. BOX) DO NOT INCLUDE ADDRESS IF AGENT IS A CORPORATION Newport Beach, CA 92663 S. I DECLARE THAT I HAVE EXAMINED THIS STATEMENT AND TO THE BEST OF MY KNOWLEDGE AND BELIEF. IT IS TRUE, C R CT AND COMPLET -7-lv- -3 Finance Director Dennis C. Danner l DATE TITLE TYPE OR PRINT NAME OF SIGNING OFFICER OR AGENT SIGNATURE FORM S/O 100 REV. 9/92 SECRETARY OF STATE P O BOX 944230, SACRAMENTO 94244-0230 INSTRUCTIONS FOR COMPLETING STATEMENT BY DOMESTIC NONPROFIT CORPORATION FILING PERIOD: All Nonprofit Corporations must file within 90 days after filing articles of incorporation. Thereafter, corporations must file annually by the end of the calendar month of the anniversary date of its incorporation, and when the agent for service of process of his/her address is changed. FILING FEE: All Nonprofit Corporations must submit a five dollar ($5.00) filing fee with this statement. (Section 12210(B) Government Code.) Check or money order should be made payable to Secretary of State. PLEASE DO NOT SEND CASH. ITEMS 2-213: The address to be entered is the STREET address of the corporation's principal office. Enter room or suite number and ZIP code. Do not use post office box number. ITEMS 3-36: The address to be entered is the MAILING ADDRESS for the corporation. ITEMS 4-6C: Complete by entering the names and complete business or residence addresses of the corporation's chief executive officer (i.e., president, chairperson or other title), secretary, and chief financial officer (i.e., treasurer, chairperson or other title). No list of additional officers should be submitted. Do not use post office box numbers. ITEM 7: Sections 6210 and 8210 of the Corporations Code, make it mandatory that domestic Nonprofit Corporations designate an agent for service of process. An agent for service of process is one who may accept papers in case of a law suit against the corporation. The agent may be an individual who is an officer or director of the corporation, or any other person. The person named as agent must be a resident of California. Only one individual may be named as agent for service of process. Or, the agent may be another corporation. However, a corporation named as agent for service of process for another corporation must have on file in this office, a certificate pursuant to Section 1505, Corporations Code. The certificate is required ONLY if a corporation is named as agent for service of process for other corporations. A CORPORATION CANNOT BE NAMED AS AGENT FOR SERVICE OF PROCESS FOR ITSELF. (For example, ABC Corporation cannot name ABC Corporation as its agent for service of process.) ITEM 8: If the agent is a person, enter name and complete business or residence address. If agent is another corporation, enter name of corporation only, and do not complete address portion. Only one agent for service of process is to be named. ITEM 9: Printed name and signature of corporate officer or agent are required to complete the form. Enter title and date signed. (NOTE) ITEM 1: Do not alter the preprinted corporate name. If corporation name is not correct, please attach note of explanation. If space is blank enter exact corporate name and number, do not include your DBA name. FAILURE TO FILE THIS FORM BY THE DUE DATE IN ITEM 1 WILL RESULT IN THE ASSESSMENT OF A PENALTY. (Sections 6810, 8810, Corporations Code, and Section 25936, Revenue and Taxation Code.) NOTE: Your canceled check is your receipt of filing. We suggest that you make a copy of this form before mailing, if you wish one for your files. 1_-. 200