HomeMy Public PortalAboutResolution 94-33151
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RESOLUTION NO. 94 -3315
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TEMPLE CITY
AUTHORIZING STAFF TO CREATE A FINANCING TEAM FOR LIVE OAK
PARK RECREATION CENTER AND DESIGNATING CONSULTANTS IN
CONNECTION THEREWITH.
THE CITY COUNCIL OF THE CITY OF TEMPLE CITY DOES HEREBY RESOLVE:
WHEREAS, on January 26, City Council approved scope of the Live Oak Improvement Project
to include construction of a new recreation center; and
WHEREAS, the City of Temple City (the "City") desires to explore the means by which a new
recreation center, located in Live Oak Park, may be financed; and
WHEREAS, the City Council intends to authorize City staff to take action necessary to present
financing alternatives to the Live Oak Park Sub - committee and this City Council for review and to
authorize the City Manager to engage consultants in connection therewith.
THEREFORE, THE CITY COUNCIL OF THE CITY OF TEMPLE CITY DOES HEREBY
RESOLVE AS FOLLOWS:
Section 1. City staff are hereby authorized and directed to take actions necessary to present to
the Live Oak Park Sub - committee and to the City Council for their review alternative financing plans for
the proposed Live Oak Park Recreation Center;
Section 2. The firms of Stone & Youngberg and Jones Hall Hill & White, A Professional Law
Corporation, are hereby designated as underwriter and bond counsel, respectively, with respect to any
public financing for the Recreation Center. The City Manager is hereby authorized to enter into
agreements with said firms for their services related to any such financing, in a form acceptable to the City
Manager, so long as the payment by the City of the fees and expenses of such firms is wholly contingent
upon the issuance of debt by the City to finance the Recreation Center. City staff are hereby authorized
and directed to work with said firms to present alternative financing plans to this City Council for its
review; and
Section 3. The City Clerk of the City of Temple City shall certify to the passage and adoption
of this resolution and enter it into the book of original resolutions.
PASSED, APPROVED AND ADOPTED on March 1, 1994.
A TEST:
erk
RESOLUTION NO. 94 -3315
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I hereby certify that the foregoing Resolution, Resolution No. 94 -3315, was adopted by the City
Council of the City of Temple City at a regular meeting held on the 1st day of March, 1994, by the
following vote:
AYES: Councilmember - Breazeal, McGowan, Wilson, Budds, Manning
NOES: Councilmember -None
ABSENT: Councilmember -None
DLC /RESO /7886.1
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