HomeMy WebLinkAboutCity Council Resolution 93-021.1
RESOLUTION NO. 93-021.1
B.E8OLtrrION OF THE ern COUNCJL OF THE
CITY OF IABATOGA APPOn-mNG AN UNDEBWlUTER
FOR PROPOll:D PUBLIC FINANCING AUTHORITY
WHEREAS. the City of Saratora (the "City") is considering proceedinl'$ for the
acqui8ition, conøtruct1on and -.quipping of Cértain property to be used for municipal
purpOl81 of the City and pl'OCll8dings for the refinancing of certain outstandin¡ bonds
of the City and in connection with such proceedings the City is forming a Parking
Authority (the "Agency") anct.¡ftint POWtn authority (the "Authority") pursuant to
Article 1 of Chapter I otDi"""- T of Title 1 of the Government Code of the State of
California in order that .uch Authority may, in connection with such proO$.din¡s,
exercise the powers authorizllllu:nder the Marks-Roos Local Bond Poolin, Act or 1985
(Government Code 6&84 et ..q.) and, in addition, exercise such powers in cooperation
with future proceedin¡:a of such nature undertaken by th& A,eney Or the City; and
WHEREAS, in order to facilitate financing for current and foree.eable financin¡ of
project. of the City and the Alecy it is of benefit to enca,. the aeMCé. of private
consultant. to rend.. prote~.,..ar services and advice in carrying out the purpo8e8
otthe Authority and eœploy "'compensate, financial consultants and other aclviSOf$
deemed nece..ary b)" the A.....ty in connection with the issuance and sale of any
bonds and to appoint an underwriter in connection with such financin, proceedings,
NOW. THEREFORE, BE IT :øSOLVED BY THE CITY COUNCIL OF THE CITY
or SARATOGA AS FOLLO'Wa
Section 1. The firm ofFint CaHtomia Capital Markets Group, Inc., San Francisco,
Califomia. is hereby appoinM8 to act as an underwriter in connection with web
financin, proœedin,a 01 the ~rity as may hereaftar be set torth and eatablished.
Section 2. Appropriate ofticen of the City are hereby authorized and directed, in
a..ocíation with First Califomta Capital Marketl Group Inc., in San Francieco,
Califotnia, to take such action. and to prepare such documents as shall be nece8Sa.ry
and apptOpriatAa in CONU'cti01'1 with such ftnancing proceeding..
Section 3. That the appointment of \U1derwriter as hereinabove made is subject to
the condition that the Authority shall incur no financia11iability for services until
IUch time as the City Council of the City of Saratoga and the Joint Powers Authority
have approved particular financing proceedings presentðd put¡uant to Section 2
h....of,
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PASSED AND ADOPTED by the City Council of the City of Sarato¡a at a regular
meetin¡ tbereofbe1cl on June 2, 1993. by the followin: vote:
AYES: Councilmembers Burger, Kohler, Mania, Tucker and Mayor Anderson
iJOES:
ABSE~T :
None
None
". ~.....
'<- /J ¡l"rr- _
EtÎt of~~ OF SARATOGA
ATrEST:
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CITY CJ·'I!JU{
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