HomeMy WebLinkAboutReso 1995-17853 RESOLUTION NO. 17853
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA APPOINTING THE TEAM OF STONE & YOUNGBERG AND
GRIGSBY BRANDFORD & CO., INC. TO SERVE AS
UNDERWRITERS FOR THE PROPOSED NEGOTIATED SALE OF
BONDS FOR ADVANCE REFUNDING OF VARIOUS ASSESSMENT
DISTRICT DEBT UNDER THE MARKS-ROOS LOCAL BOND
POOLING ACT
WHEREAS, on November 1,1994, the Council/Agency adopted Resolution Nos. 17708
and 1432 tentatively approving a refinancing of the outstanding debt of several Assessments
Districts in order to achieve savings in annual assessments for property owners; and,
WHEREAS, the direction was to pursue the refunding using a pooled concept allowed
under State laws referred to as Marks-Roos; and,
WHEREAS, staff was directed to conduct a competitive process for the selection of
an underwriting firm and to return to Council for approval of that selection and to establish
a Marks-Roos Joint Power Authority as the conduit for the pooled refunding; and,
WHEREAS, approval of this resolution will appoint the team of Stone & Youngberg and
Grigsby, Brandford & Co., Inc. as the underwriters on the transaction.
NOW, THEREFORE, BE IT RESOLVED the City Council of the City of Chula Vista does
hereby appoint the team of Stone & Youngberg and Grigsby Brandford & Co., Inc. to serve
as underwriters for the proposed negotiated sale of bonds for advance refunding of various
Assessment District debt under the Marks-Roos Local Bond Pooling Act.
Presented by App, ved a~t~/~rm b~
~'~P ~ C~ty Attorney
D,rector :7 ,"nanee . .Boo erd
............. T .............................Illf
Resolution No. 17853
Page 2
PASSED, APPROVED and ADOPTED by the City Council of the City of Chula Vista,
California, this 4th day of April, 1995, by the following vote:
YES: Councilmembers: Moot, Padilia, Horton
NOES: Councilmembers: None
ABSENT: Councilmembers: Rindone
ABSTAIN: Councilmembers: None
Shirley I-rorton', May~r
ATTEST:
Beverly i~. Authelet, City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO ) ss.
CITY OF CHULA VISTA )
I, Beverly A. Authelet, City Clerk of the City of Chula Vista, California, do hereby certify that
the foregoing Resolution No. 17853 was duly passed, approved, and adopted by the City
Council at a joint City Council/Redevelopment Agency meeting held on the 4th day of April
1995.
Executed this 4th day of April, 1995.
Beverly 2{. Authelet, City Clerk
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