City of Lindsay Page 1
LINDSAY CITY COUNCIL
SPECIAL MEETING AGENDA
July 22, 2025, 6:00 P.M.
City Hall, 251 E. Honolulu St., Lindsay, CA 93247
NOTICE IS HEREBY GIVEN that a special meeting of the City Council of the City of Lindsay is hereby called pursuant to section 54966 of the California Government Code.
City of Lindsay YouTube Channel: https://www.youtube.com/@CityofLindsay Se anima a los hispanohablantes a asistir a las próximas reuniones del Concejo Municipal de Lindsay. Para traducción al español, comuníquese con la oficina de la Secretaria Municipal por teléfono, (559) 562-7102 ext. 8034, o regístrese unos minutos antes en el momento de la reunión del Consejo.
Rules for Addressing the City Council:
• Members of the public may address the City Council on matters within the jurisdiction of the City of Lindsay.
• Persons wishing to address Council concerning an item on the agenda will be invited to address the Council during the time that Council is considering that agenda item. Persons wishing to address Council concerning issues not on the agenda will be invited to address Council during the Public Comment portion of the meeting.
• When invited by the Mayor to speak, please step up to the lectern, state your name and city of residence, and make your comments. Comments are limited to three minutes per speaker.
Americans with Disabilities Act
Pursuant to the Americans with Disabilities Act, persons with disabilities who may need assistance should contact the City Clerk prior to the meeting at (559) 562-7102 ext. 8034 or via email at [email protected].
1. CALL TO ORDER SPECIAL MEETING
2. LINDSAY SUCCESSOR AGENCY MEETING
2.1Pledged Tax Revenues in Accordance with the Bond Covenants of the Lindsay Successor Agency
Action & Recommendation: Approve written certification of pledged tax revenues in accordance with the bond covenants of the Successors Agency to the Lindsay Redevelopment Agency Tax Allocation Refunding Bonds, Issue of 2015.
Submitted by: Kuyler Crocker, Acting Director of Finance
3. ADJOURNMENT SPECIAL MEETING – Lindsay City Council meetings are held in the City Council Chambers at 251 E. Honolulu Street in Lindsay, California beginning at 6:00 P.M. on the second and fourth Tuesday of every month unless otherwise noticed. Materials related to an Agenda item submitted to the legislative body after distribution of the Agenda Packet are available for public inspection in the office of the City Clerk during normal business hours. A complete agenda is available at www.lindsay.ca.us. In compliance with the Americans with Disabilities Act & Ralph M. Brown Act, if you need special assistance to participate in this meeting, or to be able to access this agenda and documents in the agenda packet, please contact the office of the City Clerk at (559) 562-7102 x 8034. Notification prior to the meeting will enable the City to ensure accessibility to this meeting and/or provision of an alternative format of the agenda and documents in the agenda packet.
Mayor
Misty Villarreal
Mayor Pro Tem
Yolanda Flores
Councilmembers
Adriana Nave
Rosaena Sanchez
Joe Soria
City of Lindsay Page 2
AFFIDAVIT OF POSTING AGENDA
I hereby certify, in conformance with Government Code Sections 54954.2 and 54956, this agenda was posted in the bulletin board at the front of City Hall, 251 E Honolulu St., as well as on the City of Linday’s website (www.lindsay.ca.us).
DATE & TIME POSTED: Monday, July 21, 2025 at 2:30 p.m.
Dalee Chang, Deputy City Clerk
STAFF REPORT
TO: Lindsay City Council
MEETING DATE: July 22, 2025
DEPARTMENT: Finance
FROM: Kuyler Crocker, Acting Director of Finance
AGENDA TITLE: Pledged Tax Revenues in Accordance with the Bond Covenants of the Lindsay Successor Agency
ACTION & RECOMMENDATION
Approve written certification of pledged tax revenues in accordance with the bond covenants of the Successor Agency to the Lindsay Redevelopment Agency Tax Allocation Refunding Bonds, issue of 2015.
BACKGROUND | ANALYSIS
In accordance with bond covenants held at U.S. Bank, the Successor Agency to the former Lindsay Redevelopment Agency must annually provide written certification of pledged tax revenues received by the Successor Agency through the date of the certificate combined with the amount remaining to be paid on all outstanding obligations of the Successor Agency not exceeding the plan limits.
Every year, the City receives Recognized Obligation Payments Schedule (ROPS) funds. These funds are used to satisfy the debt service requirements of the 2015 Bond Issue from U.S. Bank. This certification means the City is still receiving funds to repay the 2015 Bond Issue and there has been no change in status from the preceding year’s certification. This Bond Issue is the final debt on the City’s ROPS.
The outstanding balance of the 2015 Bond Issue was $8,450,000 as of August 1, 2025.
The Successor Agency is required to provide written certification to U.S. Bank annually. Staff does not anticipate any change to the certification process until the bond is paid in full in 2037.
FISCAL IMPACT
There is no fiscal impact associated with this action.
ATTACHMENTS
1. City of Lindsay Certification Letter
Reviewed/Approved: ______
Item #: 2.1
Lindsay Successor
Agency Meeting
CITY OF LINDSAY
Misty Villarreal
Mayor
251 Honolulu Street | P.O. Box 369 | Lindsay, CA 93247
[email protected] | 559.562.7102
July 22, 2025
Steven Lewan
U.S. Bank
1420 Fifth Avenue, 7th Floor
Seattle, WA 98101
Re: Certification of Pledged Tax Revenues
Dear Mr. Lewan,
In response to the Bond Covenants held at US Bank, the Successor Agency to the former Lindsay Redevelopment Agency at a duly held meeting on July 22, 2025, approved the following letter, written for the period of August 1, 2025, through August 1, 2026:
“The Successor Agency shall file annually with the Trustee on or prior to August 1, of each year a Written Certificate of the Successor Agency certifying that Pledged Tax Revenues received by the Successor Agency through the date of the certificate combined with the amount remaining to be paid on all outstanding obligations of the Successor Agency will not exceed the plan limits.”
Please contact the City of Lindsay Acting Director of Finance, Kuyler Crocker, at (559) 562- 7102 with any questions regarding this action.
Sincerely,
Misty Villarreal
Mayor of City of Lindsay