HomeMy WebLinkAboutResolutions - No. 88-80RESOLUTION NO. 88-80
A RESOLUTION OF THE LODI CITY COUNCIL
APPROVING AGREEMENT WITH SEIDLER-FITZGERALD PUBLIC FINANCE
TO PROVIDE FINANCIAL SERVICES, ASSOCIATED WITH THE
PROPOSED 1988 WASTEWATER TREATMENT PLANT EXPANSION PROJECT.
WHEREAS, the City of Lodi (the "City") plans to finance the
construction of certain improvements to its municipal wastewater
treatment plant by entering into such agreements as may be necessary
and to authorize the execution, delivery and sale of certificates of
participation in payments to be made under such agreements, and it is
desirable to appoint a financial advisor in connection therewith;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Lodi, as follows:
Section 1. The firm of Seidler -Fitzgerald Public Finance, Los
Angeles, California ("Seidler -Fitzgerald") is hereby appointed to act
as financial advisor to the City in connection with said financing
proceedings.
Section 2. That certain Agreement for Financial Advisory
Services by and between the City and Seidler -Fitzgerald for financial
advisory services in connection with said financing proceedings, a copy
of which is on file with the City Clerk, is hereby approved. The
Mayor, the City Manager or the Finance Director is hereby authorized
and directed in the name and on behalf of the City to execute said
Agreement and the City Clerk is hereby authorized and directed to attest
to such official's signature.
Section 3. Appropriate officers of the City are hereby
authorized and directed, in association with Seidler -Fitzgerald, to
take such actions and to prepare such documents as shall be necessary
and appropriate in connection with such financing proceedings.
Section 4. This Resolution shall take effect upon its adoption
by this City Council.
Dated: June 15, 1988
I hereby certify that Resolution No. 88-80 was passed and
adopted by the City Council of the City of Lodi in a regular
meeting held June 15, 1988 by the following vote:
Ayes: Council Members - Hinchman, Olson, Reid, Snider
and Pinkerton (Mayor)
Noes: Council Members - None
Absent: Council Members - None
&'W.
Alice M. Reimche
City Clerk
Seidler -Fitzgerald
Public Finance A Division of Seidler Arndec Securities Inc. • Member. New York Stock Exchange, Inc.
April 28, 1988
Mr. Thomas A. Peterson
City Manager
City of Lodi
221 West Pine Street
Lodi, CA 95241-1910
Dear Mr. Peterson:
We are pleased that Seidler -Fitzgerald Public Finance will be handling
the issue and acting as the City's underwriter in connection with the proposed
issuance and sale by the City of approximately $10,000,000 Certificates of
Participation, the proceeds of which will be used to finance the White Slough
Treatment Facility Expansion.
We will work closely with you, the City and bond counsel (Jones Hall Hill
& White) to structure the proposed financing. Toward this end the full
professional resources of Seidler -Fitzgerald Public Finance will be available
to assist the City in this matter.
The City agrees that if the financing is established to our mutual
satisfaction, the City will sell or cause to be sold the Certificates to
Seidler -Fitzgerald Public Finance. Terms and provisions of such sale will be
subject to market conditions and the mutual agreement of the City and Seidler -
Fitzgerald Public Finance at the time of the sale, estimated to be in mid-June
1988. All fees will be contingent upon the Certificates selling.
Accepted this 15th day of
June
CITY OF LODI
Title City Manaqer
, 1988
Sincerely,
SEIDLER-FITZGERALD PUBLIC FINANCE
(a division of SEIDLER AMDEC
SECURITIES INC.)
Z B
J�hii C. "Fitzger
Managing Direc r
Approved as to form: GGA
Bobby W. a t
City Attorney
Attest:
Alice M. R e
City Clerk
515 South Figueroa Street • Los Angeles, California 90071-3396 • ( 213) 624-4232