HomeMy WebLinkAboutPCDC Resolution 99-09D 05/17/1999 RESOLUTION NO. 00-09D
A RESOLUTION OF THE PETALUMA COMMUNITY DEVELOPMENT COMMISSION
APPOINTING ORRICI4, HERRINGTON ~ SUTCLIFF AS BOND COUNSEL FOR ISSUANCE
OF TAX ALLOCATION BONDS AND AUTHORIZING THE EXECUTIVE DIRECTOR 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, Orrick, Herrington &Sutcliff was Bond Counsel for the 1992 Series Tax
Allocation Bonds, and;
WHEREAS, Orrick, Herrington &Sutcliff, is a well known and experienced Bond
Counsel firm that provides substantial legal experience in Tax Allocation Bond issues .
NOW, THEREFORE BE IT RESOLVED, that the Petaluma Community Development
Commission hereby appoints Orrick, Herrington &Sutcliff as Bond Counsel to the Petaluma
Community Development Commission for the issuance of 1999 Series Tax Allocation bonds.
BE IT FURTHER RESOLVED, that the Executive Director is authorized to enter into an
agreement with Orrick, Herrington &Sutcliff for Bond Counsel Services in the issuance of
1999 Series Tax Allocation Bonds for a fee not to exceed $55,000.
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
hair
ATTEST: [SEAL]
Secretary
00-09D
R