HomeMy Public PortalAbout99.028 LRALRA RESOLUTION NO. 99.28
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
LYNWOOD, APPROVING THE APPOINTMENT OF CERTAIN
PROFSSIONALS IN CONNECTION WITH THE ISSUANCE OF PROPOSED
TAX ALLOCATION BONDS
WHEREAS= the Lynwood Redevelopment Agency has determined that a
need exists to provide financing for certain redevelopment projects; and
WHEREAS= the Agency has determined that it is necessary and
desirable to appoint certain professionals to assist the staff with the preliminary
planning and structuring of financing certain projects.
NOW, THERFORE, the redevelopment agency hereby finds, determines,
declares and resolves as follows:
Section 7. 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 Bond Counsel: The Agency does hereby approve
the selection of Brown 8~ Wood ("Bond Counsel") in connection with the
issuance and sale of Tax Allocation Bonds (TABS). Bond Counsel shall be
compensated for its fees and reasonable expenses from the proceeds -TABS
(as the case may be) issue to finance the projects
Section 3. Selection of the Underwriting: The Agency. does hereby
approve .the selection of The Chapmand Company (the "Underwriter") in
connection with the issuance and sale of TABS (as the case may be). The
Underwriter shall be compensated from bond proceeds -TABS (as the case
may be). The Underwriter shall be compensated from the bond proceeds-TABS
(as the case may be) issued to finance the Projects.
Section 4. Further Actions Authorized: It is hereby convenanted that the
Chairman, Executive Director and other appropriate officers of the Agency, have
duly taken all proceedings necessary, and the Chairman, Executive Director are
hereby authorized to enter into any agreements with Bond Counsel and the
Underwriter to effectuate the .transactions contemplated by the terms of this
resolution, and to take any additional proceedings, including the execution of
any documents by them, for carrying out the provisions of this Resolution.
Section 5. Attestation and Authentication: The Secretary of the Agency
is hereby authorized and directed to attest the signatures of the Officers or such
other related document. The Secretary is also hereby authorized and directed to
~`° ~ ` _~- `' ~' documents executed b an Officer or such. other
icrtiiy. she auu ~8r'ccBCiiji isi airy y
officers or employees as may be required on behalf of the Lynwood
Redevelopment Agency.
Section 6. Effective Date: This Resolution shall take effect immediately
upon its passage.
4th THIS RESOLUTION WAS PASSED, APPROVED AND ADOPTED THIS
June, 1999:
~-,
Ri arcio Sanchez, Chairma
ATTEST:
;~ /~~~;~
Andrea L. Hooper, Secretary
APPROVED AS TO FORM:
a~
A~torney
APPROVED AS TO CONTENT:
Ral h .Davis, I
Interim Executive Director
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