Official Web Site of the City of Phoenix

NOTICE OF RESULTS
THE INDUSTRIAL DEVELOPMENT AUTHORITY

OF THE CITY OF PHOENIX, ARIZONA

BOARD OF DIRECTORS

 

Pursuant to A.R.S. Section 38-431.02, notice is hereby given to the members of THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF PHOENIX, ARIZONA BOARD OF DIRECTORS, and to the general public, that THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF PHOENIX, ARIZONA BOARD OF DIRECTORS held its Annual Meeting open to the public on Tuesday, November 10, 2009, at 3:30 p.m., located at Calvin C. Goode Municipal Building, 251 West Washington Street, 9^th Floor, Conference Room 910, Phoenix, Arizona.

 

Certain agenda items, as indicated below, may be discussed in executive session.

 

One or more Board Members may participate via teleconference.

 

The results of the meeting were as follows:

 

RESULTS
ACCEPTED		Call to Order
APPROVED APPROVED APPROVED	1.	Approval of Meeting Minutes a.    September 25, 2009 Nominating Committee Regular Meeting Minutes b.    October 13, 2009 Board of Directors Regular Meeting Minutes c.     October 13, 2009 Board of Directors Executive Session Meeting Minutes
APPROVED	2.	Dunn-Edwards Project, Recovery Zone Facility Bonds, Series 2009 Discuss and consider preliminary approval of the application from Dunn-Edwards Corporation, a Delaware corporation (the “Applicant”), for the proposed issuance of the Authority’s Revenue Bonds (Dunn-Edwards Project), in one or more tax-exempt and/or taxable series in an aggregate principal amount not-to-exceed $30,000,000, to (i) finance the costs of acquiring, constructing, improving and equipping approximately 18 acres of land and a newly constructed, 304,000 square foot building, located at 520 South 67th Avenue in Phoenix, Arizona, for use as a facility for the manufacturing of paint, coatings and related products as a distribution facility, as administrative offices for regional sales staff and support staff, and as a location for a retail store (ii) fund any required reserve funds, and (iii) pay capitalized interest, if any.
APPROVED	3.	Financial Statements for the period ending September 30, 2009 Discuss and consider approval of financial statements for the period ending September 30, 2009.
APPROVED	4.	Audit Report for Fiscal Year Ending June 30, 2009 Discuss and consider the Financial Audit Report.  If authorized by a majority vote of the Board, an executive session will be held immediately following the vote in accordance with A.R.S. §38-431.03(A) and the meeting will be temporarily recessed while the Board retires to executive session which will not be open to the public.
APPROVED	5.	Employment Policies Discuss and consider final approval of the Authority’s Employment Policies.  If authorized by a majority vote of the Board, an executive session will be held immediately following the vote in accordance with A.R.S. §38-431.03(A) and the meeting will be temporarily recessed while the Board retires to executive session which will not be open to the public.
DISCUSSION HELD; DIRECTION GIVEN	6.	Bond and Loan Portfolio Report Discuss and consider the accounts receivable of the Authority’s outstanding bonded indebtedness and loan portfolio.  If authorized by a majority vote of the Board, an executive session will be held immediately following the vote in accordance with A.R.S. §38-431.03(A) and the meeting will be temporarily recessed while the Board retires to executive session which will not be open to the public.
REPORT GIVEN	7.	President’s Report
NO REPORT GIVEN	8.	Executive Director’s Report
ELECTION HELD	9.	Board of Directors Election of Officers
ACCEPTED		Adjournment

 

For further information, please call Mr. Juan Salgado, Executive Director, The Industrial Development Authority of the City of Phoenix, Arizona, at 602-262-7304.

 

For reasonable accommodations, call Mike Santellanes at Voice/602-262-7644 or TTY/602-534-5500 as early as possible to coordinate needed arrangements.

 

 

Date Posted:  November 5, 2009