HomeMy Public PortalAbout92-21 LRARESOLUTION N0. 52` -21
RESOLUTION OF INTENT OF THE MEMBERS OF THE
LYNWOOD REDEVELOPMENT AGENCY,
CITY OF LYNWOOD, STATE OF CALIFORNIA
TO PROVIDE FOR THE ISSUANCE AND SALE OF
LYNWOOD REDEVRLOPPEM AGENCY
1992 TAR ALLOCATION REFUNDING BONDS
(ALAMEDA REDEVELOPMENT PROJECT AREA)
WHEREAS, pursuant to the Health and Safety Code of the State of
California (the "Code "), the Members of the Lynwood Redevelopment Agency
of the City of Lynwood (the "Agency ") has found and determined that it is
necessary to issue the Agency's 1992 Tax Allocation Refunding Bonds
(Alameda Redevelopment Project Area) (the "Bonds ") to refinance obliga-
tions incurred in connection with the purchase of land used by the City as
its public works yard; and
WHEREAS, the Agency intends to borrow, for the purposes set forth
above, a sum to be determined by the Agency, as specified in a resolution
of the Agency and the Contract of Purchase (as hereinafter described) by
the issuance of the Bonds; and
NOW, THEREFORE, the Agency hereby finds, determines, declares and
resolves as follows:
SECTION 1. Recitals True and Correct All of the recitals herein set
forth are true and correct and the Agency so finds and determines.
SECTION 2. Selection of Uaderwriter Grigsby Brandford & Co., Inc.
is hereby authorized to serve as underwriter to the Agency for the sale of
the Bonds and the Interim Executive Director is hereby authorized to
execute and deliver a Contract of Purchase in such form as shall be
approved by the Agency for the purchase of such Bonds by the Underwriter.
SECTION 3. Selection of Bond Counsel The Agency does hereby approve
the selection of Brown & Wood and Wilson & Becks as Co -Bond Counsel to the
Agency in connection with the sale of the Bonds. Brown & Wood and
Wilson & Becks shall be paid a fee contingent upon a successful sale and
delivery of the Bonds and such fee and expenses of Brown & Wood and
Wilson & Becks related to the issuance of the Bonds shall be payable from
the proceeds of the sale of the Bonds.
SECTION 4. Selection of Financial Advisor The Agency does hereby
approve the selection of Clayton Brown & Associates, Inc. as financial
advisor to the Agency in connection with the sale of the Bonds and the
Interim Executive Director is hereby authorized to execute and deliver a
Financial Advisor Agreement in such form as shall be approved by the
Agency.
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SECTION 5. Further Actions Authorised It is hereby covenanted that
the Agency, and its appropriate officials, have duly taken all proceedings
necessary to be taken by them, and will take any additional proceedings
necessary to be taken, including the execution of any documents by them,
for carrying out the provisions of this Resolution.
SECTION 6. Effective Date This Resolution shall be effective
immediately.
THIS RESOLUTION WAS ADOPTED August 4 , 1992 BY THE FOLLOWING VOTE:
APES.
NOES:
ABSENT:
ABSTAIN:
In erim Esecudve Dire or of the
Lynwood Redevelopment Agency
Attest:
Secretary
I certify that the foregoing is a full, true and correct copy of a
Resolution passed by the Lynwood Redevelopment Agency, City of Lynwood,
California on ijct -4—, 1992.
Secretary
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STATE OF CALIFORNIA )
Ss.
COUNTY OF LOS ANGELES )
I, the undersigned, Secretary of the Lynwood
Redevelopment Agency, do hereby certify that the above and
foregoing resolution was duly adopted by the said Agency at
a regular meeting thereof held in the City Hall
of the City of Lynwood on the 4th day /of August fn
19 92 , and passed by the following vote:
NOES:
0
ABSENT: BYRD
J"W,'
Secretary '/' 2�
Lynwood Redevelopment Agency
STATE OF CALIFORNIA )
ss.
COUNTY OF LOS ANGELES )
I, the undersigned, Secretary of the Lynwood
Redevelopment Agency, do hereby certify that the above and
foregoing is a full, true and correct copy of Resolution No.
IRA 92 -21 on file in my office and that said resolution
was adopted on the date and by the vote therein stated.
DATED this 4th day of August 6 1992
Secretary
Lynwood Redevelopment Agency