HomeMy Public PortalAbout99.1 LPFARESOLUTION NO. 99.1
A RESOLUTION OF THE LYNWOOD FINANCE AUTHORITY
OF THE CITY OF LYNWOOD, APPROVING THE SELECTION
OF C. M. de CRINIS & CO., INC. TO ACT AS FINANCIAL
ADVISOR IN CONNECTION WITH PROPOSED BOND ISSUES
TO FUND CERTAIN PUBLIC IMPROVEMENT PROJECTS
WHEREAS, the Lynwood Public Finance Authority (the Authority) is authorized
under the Mark-koos Local Bond Pooling AcTOf 198, to provide financing Iorpubiic - -
capital improvements and working capital; and
WHEREAS, during F.Y. 1998-99, the Public Works Department has identified
over $156 million in needed infrastructure improvements; and
WHEREAS, these public capital improvements aze in need of funding; and
WHEREAS, the Authority has determined that it is necessary and desirable to hire
a financial advisor to assist staff in reviewing and analyzing proposed financing
documents.
NOW, THEREFORE, THE LYNWOOD PUBLIC FINANCE AUTHORITY
OF THE CITY OF LYNWOOD HEREBY FINDS, DETERMINES, DECLARES
AND RESOLVES AS FOLLOWS:
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Crrtign 1-_ That ('.,_M_ _ (1,? Crinic .4r ('.n„ Tnr- is anthpri~erl to act a~ Fnancial ~dvic~r
in connection with proposed bond issues.
Section 2. That subject to review by the City Attorney, the Authority President is
hereby authorized to enter into an agreement with C.M. de Crinis & Co., Inc. to provide
financial advisory services.
Section 3. That this resolution shall take effect immediately upon its adoption.
PASSED, APPROVED, and ADOPTED this 16th day of February 1999.
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ATTEST: ~ - - -
C~~ ~T ~~~
Andrea L. Hooper, Secretary
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O SANCHEZ, PRE
APPROVED AS TO FORM:
y Attorney
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) §
APPROVED AS TO CONTENT:
Ralp i W. avis, III ~-
Interim Chief Administrative Officer
I, the undersigned, Secretary of the Lynwood Public Finance
Authority, do hereby certify that the foregoing resolution was passed
and adopted by the Public Finance Authority of the City of Lynwood at
a regular meeting held on the 16th day of February, 1999.
AYES: MEMBER BYRD, REA, RICHARDS, SANCHEZ
NOES: MEMBER REYES
ABSENT: NONE
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES )
Secretary.
I, the undersigned Secretary of the Public Finance Authority,
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. 99.1 on file in my office and that said resolution
was adopted on the date and by the vote therein stated.
Dated this 16th day of February, 1999.
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Secretary