HomeMy Public PortalAboutM2003-09-02-LPFALYNWOOD PUBLIC FINANCE AUTHORITY
REGULAR MEETING
SEPTEMBR 2, 2003
The Public Finance Authority of the City of Lynwood met in a Regulaz Meeting at 11330
Bullis Road on the above date at 6:58 p.m.
President Pedroza presiding.
Members Byrd, Reyes, Richazds, Rodriguez, and Pedroza answered the roll call.
Also present were Chief Administrative Officer Hempe, Assist City Attorney Duran, City
Clerk Hooper and City Treasurer Pygatt.
Secretary Hooper announced that the agenda had-been posted in accordance with the
Brown Act:
PUBLIC ORAL COMMUNICATIONS
Member Richazds requested that all Agencies Public Oral Communications be jointly
addressed with the City Council public oral communications.
CONSENT CALENDAR
It was moved by Member Byrd, seconded by Member Rodriguez to adopt the resolution,
approve the Minutes, and receive and file the following items.
Item #4: MINUTES OF PREVIOUS MEETINGS:
• Special Meeting, July 28, 2003
• Regulaz Meeting, August 5, 2003
~I • Recess Meeting from Regulaz Meeting, August 5, 2003
Item #5: INTERNET TAX FREEDOM ACT & LOCAL UTILITY USERS TAX
ON TELECOMMUNICATIONS
The 1998 Federal Internet Tax Freedom Act set a moratorium on new or discriminatory
taxes on Internet access levied by state and local governments. It specified that Congress
felt there should be no federal taxes on Internet access or electronic commerce, and
declared that the Internet should be a tariff-free zone. The cun•ent moratorium is set to
expire on November 1, 2003.
Item #6: INVESTMENT POLICY
RESOLUTION N0.2003.006 ENTITLED:
"A RESOLUTION OF THE LYNWOOD PUBLIC FINANCE AUTHORITY. OF
THE CITY OF LYNWOOD APPROVING THE TREASURER'S STATEMENT
OF INVESTMENT POLICY"
ROLL CALL:
AYES: MEMBERS BYRD, REYES, RICHARDS, RODRIGUEZ, PEDROZA
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
ADJOURNMENT
Having no further discussion, it was moved by Member Byrd, seconded by President
Pedroza and carried to adjourn the Regulaz Council Meeting at 8:14 p.m.
Fe ando Pedroza, President Andrea L. Hooper, Secretary