HomeMy Public PortalAbout95-048 (04-04-95)RESOLUTION NO. 95-
' A RESOLUTION OF
LYNNOOD, COUNTY
CALIFORNIA, APP
CONNECTION WITH
CERTIFICATES OF
BONDS
THE CITY COUNCIL OF THE CITY OF
OF LOS ANGELES, STATE OF
)INTING CERTAIN PROFESSIONALS IN
THE ISSUANCE OF GENERAL FUND
PARTICIPATION AND WATER REVENUE
MUMEM, the City of tLynwood (the "City ") is a municipal
corporation and political subdivision of the State of California;
and
, the City has determined to issue (i) approximately
$1,500,000 in aggregate principal amount of its general fund
certificates of participation (the "COPS ") the proceeds of which
will be used to finance certain capital improvements of the City;
and (ii) approximately $3,500,000 in aggregate principal amount of
its water revenue bonds (the "Bonds "), the proceeds of which will
be used to finance certain capital improvements of the City
(collectively, the "Projects); and
' WHEREAS, the City has determined that it is necessary and
desirable to appoint certain professionals to assist the city with
the preliminary planning and structuring of the Projects;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD HEREBY
FINDS, DETERNINES, DECLARES AND RESOLVES AS FOLLOWS:
SECTION 1. Recitals True and Correct All of the recitals
herein set forth are true and correct and the City so finds and
determines.
SECTION 2. Selection of Bond Counsel The City does hereby
approve the selection of Brown & Wood ( "Bond Counsel ") in
connection with the issuance and sale of the Bonds or COPS (as the
case may be) by the City.
SECTION 3. Selection of the Underwriter The City does hereby
approve the selection of Grigsby Brandford & Co., Inc. (the
"Underwriter ") in connection with the issuance and negotiated sale
of COPS or Bonds (as the case may be) by the City.
SECTION 4. Further Authorization Required. The terms and
conditions upon which Bond Counsel and the Underwriter will be
compensated in connection with the issuance and sale of COPs or
bonds, or both, will be subject to further approval by the City
' Council.
SECTION 5. Effective Date This Resolution shall take effect
immediately upon its passage.
1995. PASSED, APPROVED AND ADOPTED THIS 4th DAY OF April
I
Louis Byrd
ATTEST:
Andrea L. Hooper, Citj Clerk
APPROVED AS TO FORM:
Hk�' IL 2_
City Attorney
stirs Go ales
City Manager
Az-t�. ��'
A f etta F. Earnest
Director of Finance
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES )
I, the undersigned, City Clerk of the City of Lynwood, do
hereby certify that the foregoing resolution was passed and
adopted by the City Council of the City of Lynwood at a regular
meeting held on the 4th day of April, 1995.
AYES: COUNCILMEMBER HEINE, REA, RICHARDS, BYRD
NOES: COUNCILMEMBER HENNING
ABSENT: NONE
45 i
City Clerk, City of Lynwoo
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES )
I, the undersigned City Clerk of the City of Lynwood
and Clerk of the City Council of said City, do hereby certify
that the above and foregoing is a full, true and correct copy
of Resolution No. 95 -48 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 April, 1995.
L&T y C e r �k