AgdaPkt 2010-08-09 - Laserfiche WebLink

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o.Ltj Page 6 ATTACHMEf\JT 1 RESOLUTION NO. RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY APPOINTING CONSULTANTS IN CONNECTION WITH THE FORMATION OF A COMMUNITY FACILITIES DISTRICT AND THE ISSUANCE OF BONDS THEREBY, AND AUTHORIZING THE DIRECTOR OF FINANCE TO ACCEPT DEPOSITS, AND APPROVING A DEPOSIT AGREEMENT (ONE MARINA PROJECT) WHEREAS, in connection with the installation of public improvements for the One Marina development (the "Project"), the City Council of the City of Redwood City (the "City Council") desires to undertake proceedings relating to the formation of a community facilities district (the "CFD") pursuant to the terms and provisions of the Mello-Roos Community Facilities Act of 1982, as amended, being Chapter 2.5, Part 1, Division 2, Title 5, of the Government Code of the State of California (the "Act"); and WHEREAS, the City Council anticipates that in order to finance a portion of the Project, the CFD will issue bonds (the "Bonds") to be secured by a special tax levied on property within the CFD; and WHEREAS, the City Council desires to appoint William Euphrat Municipal Finance, Inc., San Francisco, California, as financial advisor for the public offering of the Bonds; and WHEREAS, the City Council desires to appoint David Taussig & Associates, Inc., San Francisco, California, as special tax consultant in connection with formation of the CFD, to draft the special tax formula and financing report for the CFD; and WHEREAS, the City Council desires to appoint Piper Jaffray & Co. (the "Underwriter"), San Francisco, California, as the underwriter for the public offering of the Bonds, subject to a determination in accordance with Government Code Section 53360.4 that a negotiated sale of the Bonds to the Underwriter in accordance with the terms of a bond purchase agreement to be approved by this City Council at a later date will result in a lower overall cost to the CFD than a public sale; and WHEREAS, the City Council desires to appoint Nossaman LLP, Irvine, California, as bond counsel for the public offering of the Bonds; and WHEREAS, the City Council desires to appoint Jones Hall, A Professional Law Corporation, San Francisco, California, as disclosure counsel for the public offering of the Bonds; and WHEREAS, the City Council desires to appoint Seevers, Jordan, & Ziegenmeyer, Rocklin, California, as appraiser in connection with establishing the estimated value of property within the District in connection with the public offering of the Bonds; and A TTY IRESO/RESO.2039 080310 1