HomeMy WebLinkAboutPCDC Resolution 99-09C 05/17/1999 RESOLUTION NO. 00-09C
A RESOLUTION OF THE PETALUMA COMMUNITY .DEVELOPMENT COMMISSION
APPOINTING CALIFORNIA ARBITRAGE MANAGEMENT PROGRAM (CAMP) AS
INVESTMENT ADVISOR FOR ISSUANCE OF TAX ALLOCATION BONDS AND
AUTHORIZING THE EXECUTIVE DIRECTOR OR FINANCE OFFICER TO ENTER INTO AN
AGREEMENT FOR SAID SERVICES.
WHEREAS, The PCDC has adopted the FY 98-99 Budget which included projects that
require financing through the issuance of Tax Allocation Bond debt, and;
WHEREAS, The PCDC has outstanding Tax Allocation Bond debt that should be
reviewed for refinancing opportunities, and;
WHEREAS, It is necessary to use outside consulting services in order to issue Tax
Allocation Bonds, and;
WHEREAS, A request for proposal was sent to seven qualified firms and three
proposals were received ,and;
WHEREAS, In evaluating the proposals, California Arbitrage Management Program
(CAMP), is a well known and experienced Investment Advisory firm that provides substantial
experience in investment advice and arbitrage management of Bond issues.
NOW, THEREFORE BE IT RESOLVED, that the Petaluma Community Development
Commission hereby appoints California Arbitrage Management Program (CAMP) as
Investment Advisors to the Petaluma Community Development Commission for the issuance .
of tax allocation bonds described in the Proposal dated April 28, 1999.
BE IT FURTHER RESOLVED, that the Executive Director or Finance Officer is
authorized to enter into an agreement with California Arbitrage Management Program (CAMP)
for Investment Advisory Services and arbitrage management services in the issuance of Tax
Allocation Bonds for a fee specified in the Proposal dated April 28, 1999.
Reso. 00-09C Page 1 of 2
PASSED AND ADOPTED by the Petaluma Community Development Commission this
17th day of May, 1999 by the following vote, to wit:
AYES: Healy, Cader-Thompson, Maguire, Hamilton, Torliatt, Chair Thompson
NOES: Vice Chair Keller
ABSENT: None
ABSTAIN: None
Chair
ATTEST: [SEAL]
`1~'
~m Secretary
Reso. 00-09C Pag~_~2 of 2