HomeMy Public PortalAbout1999.081 (06-04-99)RESOLUTION NO. ~ 99.81
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD,
APPROVING AND AUTHORIZING .THE APPOINTMENT OF CERTAIN
PROFESSIONALS IN CONNECTION WITH THE ISSUANCE OF PROPOSED
LEASE REVENUE AND WATER REVENUE BONDS
WHEREAS, the City of Lynwood (the "City") is a municipal corporation
and political subdivision of the State of California; and
WHEREAS, the City has determined. that a need exists to provide
financing for various capital improvements; 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 financing certain projects.
NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD
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 City so finds and determines.
Section 2. Selection of Bond Counsel: The City does hereby approve
the selection of Brown 8~ Woods ("Bond Counsel") in connection with the
issuance and sale of bonds. Bond Counsel shall be compensated for its fees
and reasonable expenses from proceeds of the sale of the bonds (as the case
may be) issued to finance the projects.
Section 3. Selection of the Underwriting: The City does hereby approve
the selection of The Chapman Company (the "Underwriter") in connection with
the issuance .and sale of bonds (as the case may be) by the City. The
Underwriter shall be compensated from the proceeds of the sale of Bonds (as the
case may be) issued to finance the projects.
Section 4. Further Actions Authorized: It is hereby covenanted that the
Mayor, City Manager and other appropriate officers of the City, have dully taken
all proceedings necessary to be taken by them, and the Mayor and City Manager
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 necessary to be taken,
including the execution of any documents by them, for carrying out the provisions
of this Resolution.
Section 5. Attestation and Authentication: The Clerk of the City is
hereby authorized and directed to attest the signatures of the Officers or such
i other Officers or employees of the City as may be required,in connection with the
~ ~ execution and delivery of any agreement entered into by the City of effectuate
the provisions of this Resolution and any other related document. The Clerk is
also hereby authorized and directed to certify the authenticity of ,any documents
executed by an Officer or such other officers or employees of the City as may be
required on behalf of the City.
Section 6. Effective Date. This Resolution shall that effect immediately
upon its passage.
THIS RESOLUTION WAS PASSED, APPROVED AND ADOPTED THIS
4th DAY OF June 1999.
z ardo Sanchez, Mayor
ATTEST:
Andrea L. Hooper.-, City Clerk
APPROVED AS TO FORM
Cit Attome
APPROVED AS TO CONTENT:
1
R p . Dav~ II
Interim City Manager
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