HomeMy WebLinkAboutReso 2015-195 RESOLUTION NO. 2015-19�
RESOLUTION OF THE CITY COUTCIL OF THE CITI' OF
CHtiLA VISTA APPROVI?�'G A\ .AGREEI�4ENT TO PROV"IDE
II�TVESTMENT Ba\'IiII�'G AI�D BOND LT?�'DERVIRITI\G
SERVICES FOR THE BAYFROI�'T PROJECT BETN%EEN THE
CITY AI�'D J.P. MORGAI�' SECURITIES. LLC AI�TD
AUTHORIZING THE CITY MAI��AGER TO E,l'ERCISE FNE
ONE-YEAR OPTIONS TO E?CTEND THE AGREEMENT
WHEREAS, the Cit�� of Chula Vista and the San DieQo Unified Pon District (Pon) ha�=e
been participating in a joint planning effort to de��elop the Chula Vista Ba��front (the
"Ba}�front"); and
�1'HEREAS. ���hen completed. the Ba��front «ill create thousands of new local and
reeional jobs, create new� public parks; protect natural coastal resources: and provide conference
and visitor-sen�ina amenities: and
�4'HEREAS; o��er the next se��eral veazs. the Cit� anticipates ne��� de�elopment projecu in
the Ba}�front that �vill require financine for infrastructure and other project costs; and
V�'HEREAS. the Citv intends to contract for investment baril:ine and bond unden��ritina
services to be performed in connection �rith the deeelopment of the Bavfront project (the
"Ba}�front Projecr'); and
�'�'HEREAS, the Finance Department issued a Request for Proposals (RFP P09-14/1�) to
pro��ide In�estment Banl:ing and UnderH�riting Services for the Barfront Project; and
�l'HEREAS. the Cit�� completed an e��aluation of the proposals for Investment Banl;ing R
Unden�riting Semices and selected J.P. n9organ Securities. LLC; and
WHEREAS. the Finance Department �vill brine anv contempiated bond issuances or
other financing mechanisms for Cim Council consideration and appro��al prior to issuine bonds
or othen�ise incumne debt.
NO�V. THEREFORE. BE IT RESOLVED b�' the Cit�- Council of the Cit�� of Chula
Vista, that it appro��es the agreement to provide in��estment banl:ing and bond underwritina
sen�ices for the Ba��front Project; benreen the Cin� and J.P. Morgan Securities; LLC; in the form
presented. with such minor modifications as ma}� be required or approved by the Citv Attome��, a
cop�� of��hich shall be kept on file in the Office of the Cit�� Clerk, and authorizes and directs the
Ma}�or to execute same and authorizes the Citv Manaeer to exercise five one-��eaz options to
extend the aereement.
Resolution No. 201�-19�
Page No. 2
Presented b}� Approved as to form by
_ ' ��, ����
Maria achadoorian len R. Googins �
Deput}� City Manager/Director of Finance iTy Atto �ey
PASSED, APPROVED; and ADOPTED by the Ciry Council of the City of Chula Vista.
California, this 1 Ith day of August 2015 by the following vote:
AYES: Councilmembers: Aguilar, Bensoussan; McCann and Miesen
NAYS: Councilmembers: None
ABSEI�'T: Councilmembers: None
ABSTAIN: Councilmembers: Salas
�
Mary las, Mayor
ATTEST:
�
Donna R. Norris, CMC, City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
1, Donna R. Norris, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2015-195 H�as duly passed; appmved, and adopted by the Cit�� Council at a
regular meeting of the Chula Vista City Counci] held on the 1 lth day of August 2015.
Executed this ] lth da}� of August 201�.
�� �
Donna R. Norris, CM , �ty Clerk