MEETING MINUTES – FINANCE AND RISK MANAGEMENT COMMITTEE –COMMUNITY POWER– SEPTEMBER 19, 2024
FINANCE AND RISK MANAGEMENT COMMITTEE
SAN DIEGO COMMUNITY POWER (COMMUNITY POWER)
City of Chula Vista
Council Chambers, 276 Fourth Avenue, Chula Vista, CA
Regular Meeting Minutes
September 19, 2024
______________________________________________________________________ The Committee minutes are prepared and ordered to correspond to the Committee Agenda. Agenda Items can be taken out of order during the meeting.
The Agenda Items were considered in the order presented.
WELCOME
CALL TO ORDER
Chair McCann called the Finance and Risk Management Committee meeting to order at 3:24 p.m.
ROLL CALL
PRESENT: Chair McCann, City of Chula Vista and Director Yamane, City of National City
ABSENT: Director Aguirre, City of Imperial Beach
Also Present: Chief Financial Officer/Treasurer Washington; General Counsel Tyagi; Clerk of the Board Hernandez; and Assistant Clerk of the Board Vences
PLEDGE OF ALLEGIANCE
Director Yamane led the Pledge of Allegiance.
ITEMS TO BE ADDED, WITHDRAWN, OR REORDERED ON THE AGENDA There were no items to be added, withdrawn, or reordered on the agenda.
PUBLIC COMMENTS FOR ITEMS NOT ON THE AGENDA
There were no public comments.
MEETING MINUTES – FINANCE AND RISK MANAGEMENT COMMITTEE –COMMUNITY POWER– SEPTEMBER 19, 2024
CONSENT CALENDAR
1. Approve June 20, 2024, Meeting Minutes
There were no public comments on Consent Item No. 1.
Motioned by Chair McCann and seconded by Director Yamane to approve the minutes of the Finance and Risk Management Committee meeting held on Thursday, June 20, 2024.
The motion carried unanimously by the following vote:
AYES: Chair McCann and Director Yamane
NOES: None
ABSTAINED: None
ABSENT: Director Aguirre
REGULAR AGENDA
2. Review of Treasurer’s Report for Period Ending June 30, 2024 Dr. Washington presented the Treasurer’s Report for the period ending June 30, 2024.
There were no public comments on Item No. 2.
Committee members received and filed the Treasurer’s Report for the period ending June 30, 2024.
3. Presentation and Update on Clean Energy Prepayment Financing Mr. Washington and Managing Director, Mr. Mike Berwanger, PFM Financial Advisors LLC, provided a presentation and update on Clean Energy Prepayment Financing.
There were no public comments on Item No. 3.
Committee members received and filed update on Clean Energy Prepayment Financing.
4. Recommend Approval of Bond Issuer for Energy Prepayment Transaction Mr. Washington provided an overview of Bond Issuer for Energy Prepayment Transaction and recommended Board Adoption of approving the selection of California Community Choice Financing Authority (CCCFA), a joint powers authority, as the Bond Issuer for a potential SD Community Power energy prepayment financing transaction and authorizing SD Community Power to join the CCCFA as an Associate Member.
There were no public comments on Item No. 4.
MEETING MINUTES – FINANCE AND RISK MANAGEMENT COMMITTEE –COMMUNITY POWER– SEPTEMBER 19, 2024 Following Committee questions and comments, the following action was taken:
Motioned by Director Yamane and seconded by Chair McCann to recommend Board Approval of Resolution No. 2024-06, adopting the Bond Issuer for Energy Prepayment Transaction. The motion carried unanimously by the following vote:
AYES: Chair McCann and Director Yamane
NOES: None
ABSTAINED: None
ABSENT: Director Aguirre
Committee Member Announcements
Chair McCann expressed appreciation to Finance, IT, City Clerk staff, and all members of Community Power for attending the meetings at the Chula Vista Council Chambers.
ADJOURNMENT
The Finance and Risk Management Committee meeting was adjourned at 3:45 p.m. to the next Finance and Risk Management Committee meeting scheduled on Thursday, October 17, 2024.
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Sandra Vences, Assistant Clerk of the Board