5/25/07
Americans with Disabilities Act Notification: In
accordance with the Americans with Disabilities Act (ADA) and Section 504 of
the Rehabilitation Act of 1973 (Section 504), the Town of Cave Creek does not
discriminate on the basis of disability in the admission of or access to, or
treatment or employment in, its programs, activities, or services. For
information regarding rights and provisions of the ADA or Section 504, or to
request reasonable accommodations for participation in Town programs,
activities, or services contact the Town Clerk, 37622 N. Cave Creek Rd., Cave
Creek, AZ 85331; (480) 488-1400.
NOTICE AND AGENDA
SPECIAL TOWN COUNCIL MEETING
TOWN OF CAVE CREEK, ARIZONA
TUESDAY, MAY 29, 2007 AT 11:00 A.M.
CALL TO ORDER 11:00 A.M..
Vincent Francia, Mayor, 37622 N. Cave Creek Road, Cave Creek, AZ.
ROLL CALL Mayor Vincent
Francia, Vice-Mayor Dick Esser,
Council Members
Kim Brennan, Ernie Bunch,
Gilbert Lopez, Thomas McGuire, and Grace Meeth
PLEDGE OF ALLEGIANCE
PUBLIC ANNOUNCEMENTS – General Announcements of interest
to members of Council and the public.
There will be no discussion on any announcements.
CALL TO THE PUBLIC
Residents/Visitors are encouraged to comment about any
matter not included on the agenda. State Law prevents the Council from
discussing or taking action on items not on the agenda, except to set them for
consideration at a future date. Please
limit your comments to three (3) minutes.
REPORTS
There
are no reports scheduled for this meeting.
ACTION ITEMS:
A. CONSENT
AGENDA
There is no Consent Agenda for this meeting.
B. GENERAL AGENDA ITEMS
If you wish to speak to the Council about any item
included on the agenda for action, please complete a Request to Speak form and hand it to the Town Clerk. The Town Clerk will call your name at the
appropriate time. Please limit your
comments to three (3) minutes. Copies
of any
reports, photographs, diagrams, charts, maps, or other
materials presented to the Council must also be given to the Town Clerk for inclusion
in the Official Town Record.
PAGE# ITEM#
1.
1. COUNCIL DISCUSSION AND POSSIBLE ACTION
TO APPROVE RESOLUTION
NO. R2007-12 SETTING FORTH THE OFFICIAL RETURNS
AND APPROVING THE OFFICIAL CANVASS OF THE SPECIAL
ELECTION HELD ON May 15, 2007
Placed
on the agenda by the Town Clerk, Town of Cave
Creek
Public Comment
Council Action Needed: Motion to approve resolution R2007-12, A Resolution of the Mayor and Town
Council of the Town of Cave Creek
setting forth the official returns and
approving the official canvass of the Special Election
held on May 15, 2007.
Narrative: This is a request for the Council to consider
and, if deemed advisable, to adopt Resolution No. R2007-12 declaring the
results of the Special Election held in and for the Town of Cave Creek, Arizona on May 15, 2007.
2. COUNCIL ACTION TO INTRODUCE, DISCUSS, AMEND
AND TAKE POSSIBLE ACTION TO APPROVE RESOLUTION
R2007-13 AMENDING THE EXISTING
LOAN AGREEMENTS BETWEEN THE TOWN AND THE
WATER INFRASTRUCTURE FINANCE AUTHORITY ` (WIFA) PREVIOUSLY ENTERED INTO FOR
THE 1998 AND 2007 FINANCINGS
TO AMEND THE DEFINITION OF EXCISE TAXES AND ADD DEFINITIONS OF
WATER DEVELOPMENT FEES AND SEWER DEVELOPMENT FEES AND DECLARING
AN EMERGENCY.
Placed on the agenda by
the Town’s Attorneys, Town of Cave
Creek
Public Comment
Council Action Needed: Motion to adopt Resolution R-2007-13
amending the existing loan
agreements between the Town and the Water Infrastructure Finance Authority (WIFA) previously
entered into for the 1998 and 2007 financings
to amend the definition of excise taxes
and add definitions of water development fees and
sewer development fees and declaring an emergency
PAGE# ITEM#
Narrative: This is a
request for the Town Council to adopt Resolution R2007-13 amending the existing
loan agreements between the Town and the Water Infrastructure Finance Authority
of Arizona to amend the definition of
excise taxes and add definitions of water development fees and sewer
development fees and declaring an
emergency.
3. COUNCIL ACTION TO CONSIDER RESOLUTION
2007-14, A RESOLUTION OF THE COUNCIL OF THE TOWN OF CAVE CREEK, MARICOPA
COUNTY, ARIZONA,
AUTHORIZING THE REFUNDING AND PAYMENT OF THE TOWN'S
OUTSTANDING VARIABLE RATE CREDIT AGREEMENT BONDS, SERIES 2007; APPROVING THE DRAFT AND AUTHORIZING THE
COMPLETION, EXECUTION AND
DELIVERY OF A LOAN AGREEMENT BETWEEN THE TOWN OF CAVE CREEK,
ARIZONA, AND THE WATER INFRASTRUCTURE
FINANCE AUTHORITY OF ARIZONA EVIDENCING A LOAN
FROM THE SAID AUTHORITY TO THE TOWN IN AN AMOUNT NOT TO EXCEED $20,100,000; TO REFUND AND RETIRE $17,565,877 OF VARIABLE RATE
CREDIT AGREEMENT BONDS AND TO REIMBURSE THE
TOWN FOR ITS DOWN PAYMENT OF $2,054,488 TO PURCHASE THE
CAVE CREEK WATER COMPANY AND TO PAY, OR TO REIMBURSE THE TOWN FOR PRIOR
PAYMENTS, FOR ENGINEERING, LEGAL AND FINANCIAL
EXPENSES RELATING TO THE
PURCHASE OF THE CAVE CREEK WATER COMPANY AND THE LOAN AGREEMENT; AUTHORIZING AND DIRECTING THE MAYOR ` AND THE TOWN CLERK TO
COMPLETE, EXECUTE, ATTEST AND DELIVER
SUCH LOAN AGREEMENT; PLEDGING EXCISE TAX REVENUES
TO THE PAYMENT OF THE LOAN; AUTHORIZING THE EXECUTION AND DELIVERY OF ALL
DOCUMENTS RELATING TO SUCH
LOAN; RATIFYING ALL ACTIONS HERETOFORE TAKEN WITH RESPECT TO THE LOAN AND DECLARING AN EMERGENCY.
Placed on the Agenda by
the Town’s Attorneys, Town of Cave Creek
Public Comment
Council Action Needed: Motion to adopt Resolution R2007-14 authorizing the refunding and payment of the town's outstanding variable rate credit
agreement bonds, series
2007; approving the draft and authorizing the completion,
execution and delivery of a loan agreement
between the Town of Cave Creek, Arizona,
and the Water Infrastructure Finance Authority of Arizona
evidencing a loan from the said Authority
to the Town in an amount not to exceed $20,100,000;
to refund and retire $17,565,877 of variable
rate credit agreement bonds and to reimburse the
Town for its down payment of $2,054,488 to purchase
the Cave Creek Water Company and to pay, or to
reimburse the Town for prior payments, for engineering, legal and financial
expenses relating to the
purchase of the Cave Creek Water Company and the
loan agreement; authorizing and directing the Mayor
and the Town Clerk to complete, execute, attest
and deliver such loan agreement; pledging excise tax
revenues to the payment of the loan; authorizing the execution and
delivery of all documents
relating to such loan; ratifying all actions heretofore
taken with respect to the loan and declaring
an emergency.
Narrative: This is a request for the Town Council to
approve Resolution R2007-14 authorizing the refunding and payment of the Town’s
outstanding variable rate credit agreement bonds and authorizing the
completion, execution and delivery of a loan agreement between the Town and
WIFA.
SUMMARY OF
CURRENT EVENTS BY MAYOR
ADJOURNMENT
POSTED THIS _________
day of MAY, 2007
BY: ___________________________________
Carrie A. Dyrek, Town Clerk