HomeMy Public PortalAboutM2004-01-06-LPFA (2)LYNWOOD PUBLIC FINANCE AUTHORITY
REGULAR MEETING
JANUARY 6, 2004
The Lynwood Public Finance Authority of the City of Lynwood met in a Regulaz
Meeting at 11330 Bullis Road on the above date at 6:16 p.m.
President Byrd presiding.
Members Pedroza, Rodriguez Santillan, Vasquez, and, Byrd answered roll call.
Also present were Chief Administrative Officer Hempe, City Attorney Beltran, and
Secretary Hooper.
City Treasurer Pygatt was absent.
Secretary Hooper announced that the agenda had been posted in accordance with the
Brown Act.
President Byrd opened Lynwood Redevelopment Agency, Lynwood Information, Inc.,
Lynwood Public Finance Authority at 6:16 p.m. Secretary Hooper took separate roll call
for each agency.
PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
Sylvia Herron, 3576 Beechwood Avenue -Item #6 (Amendment of Resolution 98.1 to
Limit Compensation) stated she doesn't agree with the Members being paid for 24
meetings at $225.00, as it is too much money.
PUBLIC ORALS COMMUNICATIONS
NONE
CONSENT CALENDAR
It was moved by Member Pedroza, seconded by President Byrd and carried to approve
the following Minutes.
Item #4: MINUTES OF PREVIOUS MEETINGS:
Regulaz Meeting, November 18, 2003
Item #5: UPDATE ON STATE OF CALIFORNIA BUDGET ACTIONS
Member Pedroza asked that an update be provided to the Members regazding this item.
Chief Administrative Officer Hempe explained that as previously reported to the
Authority, this fiscal year the State of California faced an unprecedented budget deficit of
approximately $38.2 billion. The sales tax rate would then be raised by a commensurate
amount. The offset to local governments would come in the form of a "backfill" of sales
tax loss with an equivalent amount of property tax. The cities of Cerritos and Signal Hill
have initiated legal action against the state in response to "the triple flip" in an attempt to
prevent its implementation.
Member Pedroza questioned the redirected portion (either '/< or '/z cent) and the sales
tax property tax exchanged between the state and local governments.
Autra Adams, Legislative Liasion -Recently, the Governor signed the California
Economic Recovery Act that will be placed on the Mazch 2, 2004 statewide election; and
will ask voters to approve $15 billion in bonds to finance the deficit gap with repayment
of the bonds coming from a''/e cent sales tax/property tax exchange.
Member Pedroza questioned whether the local government is proposing to raise the
property taxes as well as the sales taxes. Ms. Adams responded that property taxes would
not be raised.
President Byrd stated that the City would be joining the other cities to initiate legal action
against the state in response to "the triple flip" in an attempt to prevent its
implementation. Ms. Adams stated the Members might direct staff to proceed with this
matter.
It was moved by President Byrd, seconded by Member Rodriguez to receive and file this
item.
DISCUSSION ITEM
Item #6 AMENDMENT OF RESOLUTION 98.1 TO LIMIT COMPENSATION
It was moved by Member Pedroza, seconded by President Byrd to adopt Option #1
(Adopt resolution effectively placing a cap on compensation that May be received
for attending LPFA meetings).
Member Santillan made a substitute motion to adopt Option #2 (Modify Resolution
in any manner deemed appropriate such as by reducing meeting compensation to $225
per meeting and limiting meeting compensation to no more than 32 meetings per yeaz).
Member Rodriguez questioned why there aze 32 meetings per year in LPFA and 24
meetings in LII, and to include in the motion 24 meetings instead of 32 meetings.
RESOLUTION N0.2004.001 ENTITLED:
A RESOLUTION OF THE LYNWOOD PUBLIC FINANCE AUTHORITY OF
THE CITY OF LYNWOOD AMENDING RESOLUTION 98.1 AND LIMITING
COMPENSATION FOR MEMBERS FOR ATTENDANCE AT MEETINGS
ROLL CALL ON SUBSTITUTE MOTION -OPTION #2 WITH 24 MEETINGS:
AYES: MEMBERS RODRIGUEZ AND SANTILLAN
NOES: MEMBERS PEDROZA, VASQUEZ AND BYRD
ABSTAIN: NONE
ABSENT: NONE
Motion failed.
ROLL CALL ON ORIGINAL MOTION -OPTION #1:
AYES: MEMBERS PEDROZA, VASQUEZ AND BYRD
NOES: MEMBERS RODRIGUEZ AND SANTILLAN
ABSTAIN: NONE
ABSENT: NONE
Motion passed.
Secretary Hooper clazified that a resolution number has not yet been issued to the
resolution.
ADJOURNMENT
Having no further discussion, it was moved by Member Pedroza, seconded by Member
Santillan and carried to adjourn the Regulaz Lynwood Public Finance Authority Meeting
at 7:32 p.m.
Lo is Byrd, President Andrea L. Hooper, Secretary