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MINUTES OF THE ANNUAL REGULAR MEETING
OF THE BOARD OF DIRECTORS
CITY OF DOWNEY PUBLIC FACILITIES FINANCING CORPORATION
FEBRUARY 18, 2010
The Annual Regular Meeting of the Board of Directors of the City of Downey Public Facilities
Financing Corporation was called to order at 5:00 p.m., February 18, 2010, in the Administrative
Services Conference Room of Downey City Hall, 11111 Brookshire Avenue, Downey, California,
President Carlos Galvan, Jr., presiding.
PRESENT:
Carlos Galvan, Jr., President (District 5)
Nikki Utermohlen, Treasurer (District 1)
Carl Jackson, Secretary (District 3)
Doris Patterson, Director (District 4)
Vacant (District 2)
ALSO PRESENT:
John Michicoff, Chief Financial Officer
Kathleen L. Midstokke, Assistant Secretary
3. APPROVED MINUTES.
It was moved by Secretary Jackson, seconded by President Galvan, and unanimously carried
approve theMinutes of the Regular Meeting of February 19, 2009
to .
4. RECEIVED AND FILED ANNUAL COMPONENT UNIT FINANCIAL STATEMENTS
WITH REPORT ON AUDIT DATED JUNE 30, 2009.
Chief Financial Officer Michicoff explained that the Annual Financial Statements give a look at
what has happened with the Authority over the past year. This includes the auditor’s opinion which
makes sure the Finance department is properly carrying out their duties with proper controls in place.
The principal and interest payments were timely made and the current funds are adequate.
It was moved by Director Patterson, seconded by Treasurer Utermohlen, and unanimously
receive and filethe Financial Statements
carried to as submitted.
5. ELECTED OFFICERS.
It was moved by Secretary Jackson, seconded by Treasurer Utermohlen, and unanimously
maintain the current officers.
carried to
6. PUBLIC COMMENT:
No one came forward to speak.
7. OTHER BUSINESS:
None.
ADJOURNMENT:
5:00 p.m., February 17, 2011
The meeting adjourned at 5:07 p.m., to .
__________________________________
Kathleen L. Midstokke, Assistant Secretary
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Pub. Facilities Financing Corp. Minutes 02/18/10