HomeMy WebLinkAbout07-102 CC Resolution
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RESOLUTION NO. 07-102
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF TEMECULA DESIGNATING CONSULTANTS IN
CONNECTION WITH THE PROPOSED EXECUTION AND
DELIVERY OF CERTIFICATES OF PARTICIPATION TO
FINANCE A PORTION OF THE CONSTRUCTION OF A
NEW CIVIC CENTER FACILITY AND AUTHORIZING AND
DIRECTING CERTAIN ACTIONS WITH RESPECT
THERETO
THE CITY COUNCIL OF THE CITY OF TEMECULA DOES HEREBY RESOLVE
AS FOllOWS:
Section 1. The City, with the assistance of the Temecula Public Financing
Authority, has determined to finance the construction of a new civic center facility (the
"Project") and the City has proposed to implement a lease financing with certificates of
participation (the "Certificates") for the purpose of raising the funds for such purposes.
Section 2. Officers and officials of the City are hereby authorized to proceed
with the preparation of documents necessary to provide for the execution, delivery and
sale of the Certificates. All such documents to which the City will be a party shall be
subject to the final approval thereof by the City at a subsequent City Council meeting.
Section 3. Fieldman, Rolapp & Associates is hereby designated as financial
advisor to the City in connection with the execution, delivery and sale of the Certificates.
The City Manager is hereby authorized and directed to execute a financial advisory
agreement with said firm, or amendments to or a direction to provide additional services
under, any existing agreement between the City and said firm, for its services with
respect to the Certificates, in a form acceptable to the City Manager and the City
Attorney.
Section 4. Quint & Thimmig llP is hereby designated as bond counsel and
McFarlin & Anderson llP is hereby designated as disclosure counsel in connection with
the execution, delivery and sale of the Certificates. The City Manager is hereby
authorized and directed to execute agreements for legal services with such firms, in
forms acceptable to the City Manager and the City Attorney; provided that any and all
compensation payable to such firms shall be contingent upon the execution, delivery
and sale of the Certificates.
Section 5. Stone & Youngberg llC, is hereby designated as underwriter in
connection with the execution, delivery and sale of the Certificates.
R/Resos 2007/Resos 07-102
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Section 6. The Mayor, the Mayor Pro Tem, the City Manager, the Director of
Finance, the City Attorney, the City Clerk and all other appropriate officials of the City
are hereby authorized and directed to execute such other agreements, documents and
certificates as may be necessary to effect the purposes of this Resolution and the
financing herein authorized.
Section 7. This Resolution shall take effect upon its adoption.
PASSED, APPROVED, AND ADOPTED by the City Council of the City of
Temecula this 11th day of December, 2007.
ATTEST:
[SEAL]
R/Resos 2007/Resos 07-102
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STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
I, Susan W. Jones, MMC, City Clerk of the City of Temecula, do hereby certify that
the foregoing Resolution No. 07-102 was duly and regularly adopted by the City Council of
the City of Temecula at a meeting thereof held on the 11th day of December, 2007, by the
following vote:
AYES: 5
COUNCIL MEMBERS:
NOES: 0
ABSENT: 0
COUNCIL MEMBERS:
COUNCIL MEMBERS:
ABSTAIN: 0
COUNCIL MEMBERS:
R/Resos 2007/Resos 07-102
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Comerchero, Edwards, Naggar, Roberts,
Washington
None
None
None
. Jones, MMC
City Clerk