HomeMy WebLinkAboutResolution 93-93 04/19/1993~~'S®llltl®~ N®. 93-93 N.C.S.
of the City of Petaluma, California
RESOLUTION AUTHORIZING AGREEMENTS WITI~ SPECIAL.
COUNSEL AND UNDERWRITER FOR PROFESSIONAL.
SERVICES IN AIRPORT AND OTI)lER CITY FACILITIES
FINANCING
WHEREAS, The City Council has authorized loans since 198.5 for airport
land acquisitions, improvements and construction of hangars and,
WHEREAS, The City Council has issued Certificates of Participation for
the acquisition of the Police Facility (1985), Community Center (1987) and
Street Lights (1989) and,
WHEREAS, The current interest rates for these type of municipal loans
and leases are lower than the outstanding issues and,
WHEREAS, funding is needed to construct three additional hangar
buildings (32 hangars) and,
WHEREAS, by combining the additional funding and refinancing these
outstanding loans and leases into one Certificate of Participation lease, a
substantial savings will be generated in the annual payments and the overall
costs over the life of the loans and leases and,
WHEREAS, Professional services are needed to provide the special legal
counsel and underwriting of the leases,
NOW THEREFORE BE IT RESOLVED, that the City Council of the City
of Petaluma authorizes the City Manager to enter into agreements for
professional services with Sturgis, Ness, Brunsell and Assaf as Special
Counsel and Sutro and Company as underwriter for the above financing
issues.
Under the power and authority conferred upon this Council_by the Charter of said City.
REFERENCE: I hereby certify the foregoing Resolution was introduced and adopted by the Approved as to
Council of the City of Petaluma at a (Regular) (d~>l~b) meeting form
on the ....-19th-...-..... day of .................~-1,A1:1.~..............................-., 19.-`~.~., by the ~~
following vote: ..................... . .. . . ..•---...--..
City Attorney
AYES: Nelson, Barlas, Read, Shea, Vice Mayor Sobel, Mayor Hilligoss
NOES: None
ABSENT: Hamilton
ATTEST : ......................... .......................... .......................... .............
City Clerk' ~~~~~ C4 y ~~~ Mayor
(7oimcil File..._ ...............................
CA 10-85 Res. No......~3.-~,3.......... N.C.S.