HomeMy Public PortalAbout19990811 - Minutes - Board of Directors (BOD) ► Regional Open —1 . ice
---------------------
MIDPENINSULA REGION1if4R WAN DISTRICT
REGULAR AND SPECIAL MEETINGS
BOARD OF DIRECTORS
August 11, 1999
MINUTES
I. ROLL CALL
President Jed Cyr called the meeting to order at 7:05 P.M.
Members Present: Nonette Hanko, Mary Davey, Jed Cyr, Ken Nitz, Peter Siemens,
Deane Little, and Betsy Crowder.
Members Absent: None.
Staff Present: Craig Britton, Sue Schectman.
Il. CLOSED SESSION
J. Cyr stated that the Board would adjourn to Closed Session for the purpose of discussing
Closed Session agenda Item 1.
The Board recessed to Closed Session at 7:05 P.M. and the Closed Session commenced at
7:06 P.M. The Board concluded the Closed Session at 7:30 P.M. and J. Cyr called the
Regular meeting to order at 7:34 P.M. He noted that no reportable actions had taken place
in Closed Session.
Additional Staff Present: Peggy Coats, John Escobar, Deirdre Dolan, Malcolm
Smith, Michael Williams, Mike Foster, Del Woods
Ill. ORAL COMMUNICATIONS - There were none.
IV. ADOPTION OF AGENDA
Motion: M. Davey moved that the Board adopt the agenda. P. Siemens seconded
the motion. The motion passed 7 to 0.
V. ADOPTION OF CONSENT CALENDAR
N. Hanko removed the minutes of June 9, and D. Little removed the minutes of July 27.
Motion: P. Siemens moved that the Board adopt the Consent Calendar including
approval of the minutes of the July 14 Regular and Special Meeting, and the
July 24 Special Meeting; agenda item 5, Authorization for Staff to
Advertise for Bids to Purchase One Brush Chipper; agenda item 6,
Cancellation of August 25 Meeting; and Revised Claims 99-15. B.
Crowder seconded the motion. The motion passed 7 to 0.
330 Distel Circle * Los Altos, CA 94022-1404 9 Phone:650-691-1200
FAX: 050-691-0485 * E-mail:mrosd(0,openspace.org * Web site:WIAw.openSpaCe.org
Bmrdot Oirectors:Pete Siemens,Mary C- Davey,led Cyr,Deane Little, Nonette Hanko,Bow Crowder,Kenneth C.Nitz -GenerdNialmq0r:L.Craig Britton
Meeting 99-20 Page 2
V1. APPROVAL OF MINUTES
June 9, 1999
Motion: M. Davey moved that the Board approve the minutes with the first sentence
of the second paragraph on page 4 amended to read, "N. Hanko added that
some members of the Coastal Advisory Committee were trying to work out
an alternate solution to the District's use of eminent domain P.
Siemens seconded the motion. The motion passed 7 to 0.
July 27, 1999
Motion: K. Nitz moved that the Board approve the minutes of July 27 with the roll
call amended to show Deane Little present. P. Siemens seconded the
motion. The motion passed 7 to 0.
VII. BOARD BUSINESS
A. Agenda Item No. 1 — Public Hearing Pursuant to Government Code Section 6586.5
on the Proposed 1999 Revenue Bond Financing (Second Issue) by the Midpeninsula
Regional Oven Space District Financing Authority and on the Significant Public
Benefit Thereof— (Report R-99-1 11).
C. Britton introduced Carlo Fowler, Orrick Herrington & Sutcliff; and Tom
Lockard, Managing Director of Stone & Youngberg.
At 7:40 P.M., J. Cyr opened the public hearing.
T. Lockard announced the purpose of the hearing and said the analysis showed that
the District could save $170,000.
No member of the public wished to speak, and J. Cyr closed the public hearing at
7:42 p.m.
B. Agenda Item No. 2 — Issuance of 1999 Revenue Bonds (Second Issue); Confirm
That Two Public Hearings Were Held by the Board of Directors of the
Midgeninsula Regional Open Space District, One on Tuesday, July 27, 1999, at the
Town of Portola Valley's Town Hall, 65 Portola Road, Room 8, and One on
Wednesday, August 11, 1999, at the District's Administrative Office at 330 Distel
Circle, Los Altos, as Required for Approval of Financing and Adoption of Findings
Pursuant to Government Code Section 6586.5 — (Report R-99-108).
M. Foster explained that the overall effect of the bond issuance would be to reduce
the debt service for the first eight years. He said the interest rate was up a little
since preparation of the report. There should be no need for refinancing over the
life of the notes.
r
Meeting 99-20 Page 3
K. Nitz was concerned that the District would have an operating cash flow that was
negative in the year 2013 and asked if the District could refinance then. M. Foster
said it was not necessary. He said that when the 1995 notes came due, they would
be refinanced. The tax projections used for the future were conservative. He said
these bonds were easy to sell because the District has control over their spending.
C. Britton said this financing would push the District's debt service further into the
future, and this could be the last borrowing for a number of years.
D. Little asked if the District would be in financial distress in the year 2012 if the
bond rates became unfavorable and tax revenues dropped. M. Foster said he did
not think so. T. Lockard noted that this is much like the prior two transactions in
that they are giving the District the flexibility to restructure ten years out if there is
a recession.
C. Britton distributed charts showing which properties the District would lease, and
noted that 9,000 acres were leased.
T. Lockard and C. Fowler answered questions regarding the possibility of
exceeding the debt limit. C. Fowler explained that to the extent that they are doing
refinancing, until the first call date people are holding Midpeninsula debt. They
have put U. S. Government securities in escrow to pay the debt. He said that a
conservative insurance company has guaranteed the principal and interest. M.
Foster said he would calculate what the percentage of debt would be on the first
twenty years if lease financing counted.
K. Nitz asked that they improve the wording regarding minimizing administrative
costs on page 25 of the Preliminary Official Statement.
T. Lockard explained why the August 1 date was used and said that typographical
errors had been fixed. He said the objective of the bonds was to produce $15
million in new funds for the District. However, that figure might have to be
trimmed to $14.5 million because of current interest rates.
T. Lockard said there would be no "blue sky" fees because they will not sell the
bonds outside the state of California. He explained the difference between
promissory notes and revenue bonds.
C. Fowler talked about the abatement risk assumed by bond insurers.
T. Lockard said they could not lock interest rates in as they need to have time to
market the issue. He outlined the process that would be taking place.
Motion: P. Siemens moved that the Board confirm that two public hearings
were held by the Board of Directors of the Midpeninsula Regional
Open Space District, one on Tuesday, July 27, 1999, at the Town
of Portola Valley's Town Hall, 65 Portola Road, Room $, and one
on Wednesday, August 11, 1999, at the District's Administrative
Office at 330 Distel Circle, Los Altos, as required for approval of
Meeting 99-20 Page 4
financing and adoption of findings pursuant to Government code
Section 6586.5; adopt Resolution No. 99-27, A Resolution
Approving the Issuance of the Midpeninsula Regional Open Space
District Financing Authority 1999 Revenue Bonds, Second Issue,
and the Issuance of Such Bonds; adopt Resolution No. 99-28, A
Resolution Authorizing the Execution and Delivery of a Site Lease,
a Project Lease, a Local Obligation Purchase Contract and a
Continuing Disclosure Agreement and Approving a Preliminary
Official Statement and an Agreement for Bond Counsel Services
and Certain Other Matters in Connection Therewith; and adopt
Resolution No. 99-29, A Resolution Authorizing the Issuance of the
Midpeninsula Regional Open Space District 1999 Promissory Notes
in a Principal Amount Not to Exceed $8,000,000 and Providing for
the Form, Execution and Repayment of Said Notes. D. Little
seconded the motion. The motion passed 7 to 0.
At 8:25 P.M., J. Cyr adjourned to the meeting of the Midpeninsula Regional Open
Space Financing Authority.
At 8:35 P.M. J. Cyr reconvened the Midpeninsula Regional Open Space District
meeting.
RECESS: 8:35-8:40 P.M.
C. Agenda Item No. 3 - Approval of License Agreement With Residents of Sheldon
Road for District to Use and Manage a Public Trail Across a Portion of Sheldon
Road at El Sereno Open Space Preserve; Determining That the Recommended
Actions are Categorically Exempt from the California Environmental Quality Act;
Authorization for the President of the Board of Directors to Sign the License
Agreement for District to Manage Trail Access Across a Portion of Sheldon Road
and Any Required Certificate of Acceptance with the Residents of Sheldon Road as
Listed by Assessor's Parcel Numbers-, and Tentative Adoption of the Preliminary
Use and Management Plan - (Report R-99-113).
C. Britton introduced Gibson Anderson, and talked about the history of the
agreement and how Mr. Anderson worked to prove public right to use the trail. He
said staff have been trying to work this out for about ten years.
D. Woods showed the location of Sheldon Road in relation to the preserve and
outlined the key points in the agreement. S. Schectman added that it was important
to note that the indemnity agreement is limited solely to incidents caused by the
physical condition of the road. She said it was important for users to know that if
they do not honor the terms and conditions of the license, it is revocable. She said
C. Britton had worked had to get all property owners to sign, and they hoped they
could get everyone to sign.
C. Britton noted that there were four who had not yet signed. In reference to trail
immunities, he said staff are concerned that remains in good repair. Staff will do
an inspection. He said the District's share for resurfacing the road was $3,000.
Meeting 99-20 Page 5
Regarding equestrian use of El Serena, D. Woods said there were very few these
days. N. Hanko asked if there would be signs at the beginning of Sheldon Road to
make sure equestrians do not go there. D. Woods said a stile and sign program
would be worked out with the residents.
P. Siemens expressed concern about problems with paved trails. S. Schectman said
the trail immunity still applies but is qualified. P. Siemens expressed the opinion
that the District's stepping in is to the benefit of the property owners. C. Britton
said that once the agreement is executed and recorded, it is incumbent on the
District to stress to users that they need to be a party to this.
Motion: D. Little moved that the Board determine that the recommended
actions are categorically exempt from the California Environmental
Quality Act as set out in the staff report; authorize the President of
the Board of Directors to sign the License Agreement for District to
manage trail access across a portion of Sheldon road; as amended to
include the phrase suggested by District Legal Counsel (see below);
and any required Certificate of Acceptance with the residents of
Sheldon Road as listed by Assessor's Parcel Numbers; and
tentatively adopt the Preliminary Use and Management Plan
recommendations contained in the staff report. N. Hanko seconded
the motion.
Discussion: Anne Johnson, 16905 Sheldon Road, Los Gatos, said she wanted to
make the Board aware that not everyone had signed the agreement.
There are several issues of concern, including property owner
liability and long-term property rights. She said she hoped the
District would work with them to resolve these issues. She did not
support rude and abusive behavior exhibited by some cyclists. She
said the agreement does indemnify them for the road portion.
Jeff Johnson talked about parking at the end of the Sheldon Road
cul-de-sac. He said there is no room to turn around, and he was
afraid parking would become more of an issue.
S. Schectman addressed the legal issues. She said the General
Manager's recommendation should be amended to add the phrase,
"...and further authorize the President of the Board of Directors,
subject to the approval of the General Manager and General
Counsel, to approve minor revisions to the attached license
agreement which do not make substantive changes."
P Siemens was concerned about the no parking issue, and said it
seemed reasonable for the District to install signs stating resident
parking only. S. Schectman said the District has no authority to
enforce such signs. She would research the matter.
Meeting 99-20 Page 6
F. Mark Payne, 16900 Sheldon Road, expressed concern with
indemnity. S. Schectman confirmed that the lawsuit would be
dismissed upon execution of the agreement.. C. Britton said it
would go back to arbitration if the agreement does not work out.
Vote: The motion passed 7 to 0.
Gibson Anderson expressed appreciation for the work of the District through the
years.
D. Agenda Item No. 4 — Approval of Amendment to Settlement Agreement and
Related Implementing Agreements for Proposed Acquisition of Prol2eLty of the
Russian Convent of Our Lady of Vladimir, Inc. Creating the Mills Creek Open
Space Preserve, and Authorization for the President of the Board of Directors,
Subject to the Approval of the General Manager and General Counsel, to Approve
Minor Revisions to the Settlement and General Release Agreement and Related
Implementing Agreements That May be Necessitated by the Land Use Regulatory
Requirements of San Mateo County and Which do not Involve Any Substantial
Change to the June 21, 1999 Partial Site Plan for the Convent Project — (Report R-
99-114).
S. Schectman said that she was available to answer questions about legal issues. D.
Woods presented the staff report, including four revisions. He said the realignment
would have no effect on the wildlife corridor.
In regard to parking, Don Wolfe, a planner representing the Convent, said that
some people would walk and some would use a shuttle. He said the purpose of the
extra residence at this time is to house nuns when they can no longer live in the
convent, or to house a caretaker. He stressed that use of the residence is as an
accessory to the convent; it cannot be sold nor subdivided.
D. Woods said the Ridge Trail was not incorporated into the project.
Regarding the need or requirement by the County for additional landscaping with
buildings being moved closer to Skyline, D Woods said it would be easy to screen.
The new location does not change the visual impacts from existing open space or
adjacent properties. He said the new plan calls for all the same provisions as the old
one. He said the changes did not raise any concerns with staff. The views from
Skyline will be mitigated.
S. Schectman said there was no change in the provisions regarding the outbuildings.
Motion: D. Little moved that the Board adopt Resolution No. 99-30, A
Resolution Approving Amendment to Settlement and General
Release Agreement and Implementing Agreements, Authorizing
Officer to Execute Certificate of Acceptance and Other Documents,
and Authorizing General Manager and Board President to Execute
Any and All Other Documents Necessary or Appropriate to
Meeting 99-20 Page 7
Implement the Amendment (Mills Creek Open Space Preserve —
Lands of Russian Convent of Our Lady of Vladimir, Inc.); and
Authorize the President of the Board of Directors, subject to the
approval of the General Manager and General Counsel, to approve
minor revisions to the Settlement and General Release Agreement
and related Implementing Agreements that may be necessitated by
the land use regulatory requirements of San Mateo County, and
which do not involve any substantial change to the June 21, 1999,
Partial Site Plan for the Convent Project. P. Siemens seconded the
motion. The motion passed 6 to 0. Dir. Davey abstained.
D. Wolfe commended staff for working so professionally and cooperatively with
the consulting team.
VIII. INFORMATIONAL REPORTS
N. Hanko: She reminded Boardmembers of the farm tour on the coast, and said that she
thought it was important to get as much information as they can from the people on the
coast. She referred to newspaper clippings from the Half Moon Bay Review.
P. Siemens reported on a meeting of the Santa Clara County Special Districts Association
where they discussed what to do next with respect to joining LAFCO.
M. Davey: 1. She, C. Britton, and B. Crowder met with Clifford Janoff, Executive
Director of Bay Area Ridge Trail, and Doug Kersey, President of Bay Area Ridge Trail
Council. M. de Beauvieres and M. Smith attended and made a presentation. They
discussed potential new links along Skyline and the Ridge Trail and what has been
accomplished so far. She said it was an encouraging meeting. 2. About 150 people
attended the fourth forum on Stanford land. The forum was on land use and the academic
future of Stanford. Stanford wants flexibility for academic and other uses. At the next
meeting, the Community Resource Group will discuss what they will recommend to county
planning and the university.
B. Crowder 1. She used to be a member of the San Mateo County Ridge Trail group and
had attended a meeting. 2. She talked about her vacation to Mont Blanc. 3. She talked
about the controlled burn. 4. Portola Valley is having a barbecue in September as a fund-
raiser for conservation and preservation, and she had been invited as the honoree.
K. Nitz recommended a tape regarding power speaking.
D. Little: 1. He attended the controlled burn and was impressed b the professionalism of
P Y
crews. 2. He is continuing to hike District land and said he thought we had a severe
problem with yellow star thistle. He thought we needed to be thinking in terms of a long
term management policy. 3. He recommended a book called Tales of the Shaman's
Apprentice b Mark Plotkin.
PP Y
J. Cyr: 1. He commented regarding Stanford, noting that private institutions are in the
process of having to deal with public input. 2. He went on record in appreciation of the
t
Meeting 99-20 Page 8
preparation work done by all staff for the bum, especially M. Smith and Public Relations.
He suggested inviting all fire units within the District to at least observe. 3. He talked
about the parties celebrating the Bear Creek Redwoods acquisition, both the staff party and
the one with the neighbors. 4. He reminded members of the staff recognition event on
August 19. 5. He described his experiences while on bicycle patrol with Brian Malone.
He was impressed with ranger professionalism. 6. J. Nicholas had showed him Bear
Creek, and he rode with M. Newbum.
C. Britton: 1. He also talked about the staff picnic July 30 on the Bear Creek site, and the
other party given by the neighbors on August 1. 2. He talked about the Coastal Advisory
Committee tour of District lands and the presentations by staff. 3. He announced that
Susan Dale was resigning on September 15 and was getting married. He talked about job
description changes including a change in job title. 4. Jay Thorwaldson had loaned him an
August 1890 magazine describing Yosemite, which was available for review. 5. He
attended an open house which included a tour of the new Santa Clara Valley Water District
office building. 6. There will be a Town Hall meeting with Byron Sher in Los Altos on
August 14. 7. He had an invitation from he Martinez Regional Land Trust for an event on
September 18. 8. He had the Kent and Associates material requested by Board Members.
9. The FYIs included a letter from him regarding airport expansion. He advised the Board
that the issue is heating up. There are hearings occurring and staff will probably come to
the Board with a resolution. 10. Also in the FYIs was a memo from Paul Romero of Santa
Clara County regarding the Bear Creek Redwoods acquisition. 11. There was a letter from
Rich Gordon responding to Ken Johnson's proposal regarding formation of another open
space district on the coast side. 12. Tom Lockard placed an ad in the Mercury News
regarding the note issue. 13. He and M. Smith met with Sen. Sher. In that meeting they
got a commitment of $2-3 million from the Coastal Conservancy for the Bear Creek
Redwoods. 14. He had talked to Denise Dade of the Committee for Green Foothills
regarding Stanford. He assumed she would be coming to the Board asking for a resolution
and thought the District needed to be prepared to take a strong stand.
M. Smith: 1. He talked about the tour of the coastal area Saturday. 2. He showed Board
Members how to use the mute buttons on the new microphones.
D. Dolan said everyone should have received invitations for the October 19, 5:30 P.M.
staff recognition event.
J. Escobar said the Deer Hollow Farm annual recognition dinner would be October 3 at
4:00 P.M.,
IX. ADJOURNMENT
At 10:55 P.M. the meeting was adjourned.
Roberta Wolfe
Recording Secretary
MIDPENINSULA REGIONAL OPEN SPACE DISTRICT FINANCING
AUTHORITY
SPECIAL AND REGULAR MEETING
GOVERNING BOARD
AUGUST 11, 1999
MINUTES
1. ROLL CALL
The meeting was called to order at 8:26 p.m.
Members Present: Chair Jed Cyr, Ken Nitz, Pete Siemens, and Betsy
Crowder.
Members Absent: Santa Clara County Supervisor Joe Simitian.
Staff Present: Executive Director Craig Britton.
II. ADOPTION OF AGENDA
Motion: B. Crowder moved that the Authority adopt the agenda. K. Nitz
seconded the motion. The motion passed 4 to 0.
111. ORAL COMMUNICATIONS —None.
IV. NEW BUSINESS
A. Agenda Item No. 1 -Approval of Issuance of Up to $30 Million of
Midpeninsula Regional Open Space District Financing Authority 1999
Revenue Bonds (Second Issue); Authorization for Executive Director to
Execute the Bond Purchase Contract with Stone& Youngberg LLC,the
Agreement for Bond Counsel Services with Orrick, Herrin on&
Sutcliffe, and Other Agreements Required for Bond Issuance—(Report R-
99-01).
C. Britton handed out the amended bond purchase contract. Tom Lockard,
principal with Stone& Youngberg,the District's underwriter, noted that the
principal change is the addition of notes.
S. Schectman noted that the Financing Authority was approving all
documents the District approved with the addition of the Trust Agreement.
Motion: K.Nitz moved that the Authority adopt Resolution No. 99-01,
A Resolution of the Midpeninsula Regional Open Space
District Financing Authority Authorizing the Issuance, Sale
and Delivery of Not to Exceed$30,000,000 Midpeninsula
Regional Open Space District Financing Authority 1999
Revenue Bonds(Second Issue);Authorizing the Execution
and Delivery of a Site Lease, a Project Lease, a Trust
Agreement in Connection Therewith and Authorizing the
Execution and Delivery of an Official Statement, a Bond
Purchase Contract,a Local Obligation Purchase Contract, a
Preliminary Official Statement,a Continuing Disclosure
Agreement Relating to Such Bonds, an Agreement for Bond
Counsel Services,and Taking Certain Other Actions in
Connection Therewith. P. Siemens seconded the motion.
Discussion: Board members expressed appreciation for the efforts of staff,
bond counsel, and the underwriter.
Vote: The motion passed 7 to 0.
V. ADJOURNMENT
At 8:35 P.M.,the meeting was adjourned.
Roberta Wolfe
Recording Secretary