HomeMy WebLinkAboutRDA BOND COUNSEL 09-20-82OATE:
Sept. 15, 1982
REDEVELOPMENT AGENCY
3. 7
9-20-82
Inter-Corn
TO:
FROM:
SUBJECT:
RED£V£LOPMENT AGENCY
BILL HUSTON, CITY MANAGER
AUTHORIZATION TO RETAIN BOND COUNSEL
It is recommended the Agency authorize retention of Mudge, Rose, Guthrie &
Alexander and Rourke & Woodruff as the Agency's bond counsel in connection
with the issuance of tax allocation bonds by the Agency.
An agreement authorizing retention of these firms as the Agency's bond
counsel is attached. The cost of bond counsel services would be paid from
the proceeds of the bond sale.
WH:dmt
Rourke & WoodrufT
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SANTA ANA~ CALIFORNIA
September 15, 1982
Tustin Community Redevelopment
Agency
300 Centennial Way
Tustin, California 92680
Gentlemen:
In connection with the proposed issuance by the Tustin
Community Redevelopment Agency of Tax Allocation Bonds (Bonds)
for purposes of the Agency as authorized by law, in an aggregate
principal amount of approximately $8,000,000, this letter is to
set forth the description of services to be performed by bond
counsel and the terms, conditions and compensation in respect
thereto.
The scope of services which we will perform with respect to
issuance of the Bonds will include examination of law and preparation,
or assistance in the preparation, of all documents and proceedings
necessary to authorize, issue, sell and deliver the Bonds. Included
in such documents and proceedings are the following:
(i) The note resolution under which the Bonds will be issued
and secured;
(ii) The notice of sale for the Bonds;
(iii) Ail proceedings by which the Bonds would be issued, sold
and delivered and under which the notice of sale, the preliminary
official statement and final official statement relating thereto
would be approved;
(iv) Ail filings, certificates and other documents necessary
to close the issuance, sale and delivery of the Bonds; and
(v) Our approving legal opinions issued in connection with
the Bonds.
We will also supervise the printing of the Bonds.
Tustin Community
Redevelopment Agency Page Two September 15, 1982
With respect to the issuance of the Bonds, the fees for ser-
vices as bond counsel will be the total sum of Twenty-Five Thousand
Dollars ($25,000.00). Further, we are prepared to assist in the
preparation of any preliminary official statement and official
statement with respect to the Bonds, which are to be prepared by
the Financial Consultant to the agency, and to deliver our opinions
relating to the adequacy of disclosure contained therein. The
extent of this work will depend on the adequacy of these documents
when submitted to us. For such additional services, we will be
compensated on the basis of our time expended on such services, at
the rate of $125.00 per hour, plus reimbursement for any out-of-pocket
costs and disbursements. Except as provided below, such fees,
costs and disbursements are payable only out of the proceeds of
the Bonds.
In the event that work is abandoned or terminated prior to the
issuance of the Bonds, no fees would be owed to us; however, we
would be entitled to reimbursement for all out-of-pocket costs and
disbursements incurred by us to the date of such abandonment or
termination.
Please indicate acceptance of the foregoing by returned to us
a dated and signed copy of this letter.
Very truly yours,
MUDGE, ROSE, GUTHRIE & ALEXANDER
EDWARD W. LONG
By:ROURKE ~& WOODRUFF/~~
ALAN R. WATTS
ACCEPTED this
day of
, 1982.
TUSTIN COMMUNITY REDEVELOPMENT
AGENCY
BY:
JGR:se:R:9/15/82 (H)
Recent Bond Issues or Bond Anticipation Notes
For Which Mudge, Rose, Guthrie & Alexander
and Rourke & Woodruff Have Been
Bond Counsel
Date of Sale
October 1981
February 1982
May 1982
July 1982
Issuer
City of Anaheim
Orange County Transit District
City of Anaheim
Orange County Transit District
Amount
54,750,000
13,300,000
70,000,000
14,600,000