HomeMy WebLinkAbout1991-04-09 - RESOLUTIONS - LEASE FINANCING CONSULTANTS (2)RESOLUTION NO. 91-53
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SANTA CLARITA, CALIFORNIAr APPOINTING
CERTAIN CONSULTANTS FOR THE PROPOSED LEASE
FINANCING IN CONNECTION WITH THE ACQUISITION
OF CERTAIN BUSES AND APPROVING MODIFICATIONS
IN ITS FINANCIAL SERVICES AGREEMENT.
WHEREAS, the City of Santa Clarita, Los Angeles
County, California (the "City") proposes to finance the
acquisition of buses to be used for public transportation
(the "Project") and has considered the advisability and
necessity of entering into such financing; and
WHEREAS, the City has determined that it is in the
best interests and common benefit of the residents and the
landowners of the City that the Project be acquired with
tax-exempt financing and will need certain consultants to
.-. accomplish the processing of documentation and conduct of
proceedings; and
WHEREAS, in connection with such tax-exempt
financing, the City desires to modify that certain financial
advisor letter agreement (the "Financial Advisor Agreement")
dated April 14, 1989, by and between the City and Fieldman,
Rolapp & Associates, relating to the provision of financial
advisory services to the City.
NOW, THEREFORE, BE IT RESOLVED, by the City Council
of the City of Santa Clarita, California, as follows:
SECTION 1. The law firm of Burke, Williams,
Sorensen & Gaar is hereby appointed as Special Counsel to
the City in connection with the financing of the Project and
the entering into of a Master Lease and Option to Purchase
Agreement No. 1991-1 (the "Lease") by and between the
Chelsea Leasing Corporation (the "Lessor") and the City
which is expected to be executed and delivered by the
City. The Director of Finance is hereby authorized to
execute and deliver an agreement with said firm for services
in connection with the financing of the Project, the fees of
said firm to be payable from the proceeds of the financing
of the Project.
SECTION 2. A letter agreement amendment dated
March 1, 1991, to the Financial Advisor Agreement (the
"Amendment") has been presented to the City and is hereby
approved. The Director of Finance is hereby authorized to
execute the Amendment. Except as modified by the Amendment,
all other terms and provisions of the Financial Advisor
Agreement shall remain in full force and effect.
SECTION 3. Pursuant to the Financial Advisor
Agreement, as amended, on file with the City, the firm of
Fieldman, Rolapp & Associates, is hereby confirmed as the
financial advisor to the City in connection with the
financing of the Project and the entering into of the Lease.
SECTION 4. This Resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED by the City Council of the City
of Santa Clarita, California, at a regular meeting held on
the 9th day of April, 1991.
CITY OF SANTA CLARITA, CALIFORNIA
By: evAttl ft2/
mAYbR
I HEREBY CERTIFY that the foregoing Resolution was
duly adopted by the City Council of the City of Santa
Clarita, California, at a regular meeting thereof, held on
the 9thday of April, 1991, by the following vote of the
Council:
AYES: COUNCIL MEMBERS Darcy, Heidt, Klajic, Boyer
NOES: COUNCIL MEMBERS None
ABSENT: COUNCIL MEMBERS McKeon
CITY CLERK
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