NOTICE WORKSHOP(S) OPENING. PUBLIC FINANCE AUTHORITY AGENDA Tuesday, September 14, :45 PM

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1 -1- Tuesday, September 14, 2010 NOTICE The Public Finance Authority (PFA) was established on November 17, 1987, pursuant to Resolutions Nos. 15,353 and 927, adopted by the City Council of the City of Compton and the Urban Community Development Commission (UCDC), respectively, on November 10, 1987, which Resolutions authorized the City of Compton and the UCDC, acting as the Community Redevelopment Agency of the City of Compton (CRA), to enter into a Joint Powers Agreement creating the Public Finance Authority as a separate entity for purposes of financing the acquisition of public capital improvements and to fund the working capital requirement of the public agencies that are parties to the agreement by using such financing techniques as are permitted by law. PUBLIC FINANCE AUTHORITY AGENDA Tuesday, September 14, :45 PM WORKSHOP(S) OPENING MOMENT OF SILENCE PLEDGE OF ALLEGIANCE ROLL CALL PUBLIC COMMENTS ON AGENDA AND NON-AGENDA ITEMS APPROVAL OF MINUTES 1. July 20, 2010 July 27, 2010

2 -2- Tuesday, September 14, 2010 UNFINISHED BUSINESS NEW BUSINESS DIRECTOR COMMENTS ADJOURNMENT

3 #1. JULY 20, 2010 The Public Finance Authority meeting was postponed to its regularly scheduled meeting date of July 27, 2010 at 2:45 p.m. -1-

4 #1. JULY 27, 2010 The Public Finance Authority meeting was called to order at 3:31 p.m. in the Council Chambers of City Hall by Chairperson Pro-Tem Willie Jones. ROLL CALL Board Members Present: Calhoun, Dobson, Jones Board Members Absent: Arceneaux, Perrodin Other Officials Present: C. Cornwell, A. Godwin, C. Evans PUBLIC COMMENTS ON AGENDA AND NON-AGENDA ITEMS Lynn Boone, Compton resident, referenced the proposed bond resolution addressed under the Urban Community Development Commission meeting regarding a project labor agreement with the Los Angeles/Orange Counties Building & Construction Trade Council. Ms. Boone questioned if this company had addressed the certification needed by the Water Department to perform the duties required and if not, she asked if Compton College or Careerlink were contacted to verify if they provide the apprenticeship programs needed to train the local residents. Ms. Boone stated that there is $180 million dollars available for this project that should be allocated towards Careerlink and Compton College. Joyce Kelly, Compton resident, requested clarification, in regards to the different types and uses of bonds approved by the Commission. Ms. Kelly stated that it is her desire that this Commission pay the consequences for not listening to the citizens. William Kemp, Compton resident, felt the tax allocation bonds that were approved by the City Council to renovate the Martin Luther King, Jr. Transit Center were always intended for the reestablishment of the Compton Police Department. Mr. Kemp charged that what happened in Bell could easily happen in the City of Compton. APPROVAL OF MINUTES 1. May 25, 2010 June 22, 2010 July 13, 2010 On motion by Dobson, seconded by Calhoun, the minutes were approved, by the following vote on roll call: AYES: Board Members - Calhoun, Dobson, Jones NOES: Board Members - None ABSENT: Board Members - Arceneaux, Perrodin UNFINISHED BUSINESS - There was no Unfinished Business. -2-

5 #1. NEW BUSINESS - There was no New Business. DIRECTOR COMMENTS Commissioner Calhoun clarified the information conveyed at the podium regarding the bond resolution with the Los Angeles/Orange Counties Building & Construction Trade Council. Commissioner Calhoun explained that the bond resolution in question, addresses various capital improvements (street and park improvements) in the City and employment opportunities for local residents. Ms. Calhoun noted that there has been several project labor agreements entered into all over the United States and have been beneficial to all of the communities that they have served. ADJOURNMENT On motion by Dobson, seconded by Calhoun, the meeting was adjourned at 3:56 p.m., by the following vote on roll call: AYES: Board Members - Calhoun, Dobson, Jones NOES: Board Members - None ABSENT: Board Members - Arceneaux, Perrodin Clerk of the Public Finance Authority Chairperson of the Public Finance Authority -3-

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