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<br />P~S:djg-c 7/19/84 <br /> <br />RES 0 L UTI 0 N <br /> <br />N O. <br /> <br />9641 <br /> <br />ORIGINAL <br />JUL 2 3 1984 <br /> <br />RESOLUTION AUTHORIZING AND APPROVING PARTICIPATION ON <br />REPURCHASE AGREEMENT CREDITORS COMMITTEE AND RELATED <br />LEGAL SERVICES IN CONNECTION WITH CERTAIN BANKRUPTCY <br />PROCEEDINGS (RTD SECURITIES, INC.) <br /> <br />WHEREAS, in April, 1984 this City entered into a repurchase <br /> <br />agreement with RTD Securities, Inc., a New York corporation, with <br /> <br />respect to the investment of municipal funds in U. S. Treasury <br /> <br />Bills due October 4, 1984; and <br /> <br />WHEREAS, subsequent to said transaction RTD Securities, <br /> <br />Inc., comnlenced proceedings for a reorganization under Chapter 11 <br /> <br />of the Bankruptcy Act in the United States Bankruptcy Court for <br /> <br />the Southern District of New York (Case No. 84 B 10769 (ER)); and <br /> <br />WHEREAS, representatives of certain school districts and <br /> <br />municipal entities having interests similar to those of this City <br /> <br />with respect to the foresaid bankruptcy proceedings conferred in <br /> <br />the Law Offices of Anderson Russell Kill & Olick, P. C. (" ARKO" ) <br /> <br />on May 24, 1984 and agreed informally to retain ARKO in pursuit <br /> <br />of the resolution of said proceedings in the manner described <br /> <br />below; and <br /> <br />WHEREAS, this City desires to participate and cooperate with <br /> <br />the aforesaid school districts and municipal entities in pursuit <br /> <br />of corr~on interests in said bankruptcy proceedings; <br /> <br />NOW, THEREFORE; <br /> <br />BE IT RESOLVED BY THE COUNCIl, OF THE CITY OF REDWOOD CI'I'Y, <br /> <br />AS FOLLOvlS: <br /> <br />9641 <br />