HomeMy WebLinkAboutPCDC Resolution 95-12 12/04/19951
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PETALUMA COMMUNITY DEVELOPMENT COMMISSION
RESOLUTION N0. 95-12
RESOLUTION APPOINTING FINANCIAL ADVISOR,
BOND COUNSEL AND UNDERWRITER FOR
OAKMONT RETIREMENT APARTMENTS
MULTI-FAMILY REVENUE BONDS AND
AUTHORIZING THE CHAIR OR EXECUTIVE DIRECTOR
TO EXECUTE AGREEMENTS WITH THE FIRMS
WHEREAS, the PCDC has been requested by Oakmont Retirement Investors, LCC (the
"Developer") to issue tax exempt multi-family revenue bonds for the acquisition, construction and
equipping of Oakmont Retirement Apartments; and
WHEREAS, the issuance of bonds by PCDC require professional services of a Financial
Advisor, Bond Counsel and Underwriter; and
WHEREAS, the Underwriter was selected by the Developer based on the qualifications,
experience and ability to finance the project; and
WHEREAS, the Financial Advisor and Bond Counsel were selected based on their
qualifications and experience with this type of bond issue;
NOW, THEREFORE BE IT RESOLVED by the PCDC that:
1. CGMS, Inc. is appointed as Financial Advisor, Orrick, Herrington & Sutcliffe is appointed
as Bond Counsel, and First Albany, Inc. is appointed as Underwriter for Oakmont Retirement
Apartments Multi-Family Revenue Bond issue.
2. The fees for the above services are to be paid solely from the proceeds of the bond issue or
the Developer and, except for certain out of pocket costs, are contingent upon issuance of the
bonds.
~. The Chair or Executive Director is hereby authorized to execute the agreements for the
above services.
Reso. 95-12
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Adopted this th day of December 1995 by the following vote:
Commissioner ~ No Absent
Barlas
Hamilton X
Maguire X
Read X
Stompe X
Vice Chair Shea X
Chair Hilligoss X
ATTEST:
~.
P.E. Bernard, Recording Secretary
X
Patricia Hilligoss, Chair
Reso. 95-12
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