HomeMy WebLinkAboutCC RES 19-55RESOLUTION NO. 19-55
_ RESOLUTION AUTHORIZING THE COMMENCEMENT OF PROCEEDINGS IN
CONNECTION WITH THE PROPOSED ISSUANCE OF BONDS TO REFUND
THE OUTSTANDING TUSTIN PUBLIC FINANCING AUTHORITY (ORANGE
COUNTY, CALIFORNIA) 2013 WATER REVENUE BONDS, CONFIRMING THE
APPOINTMENT OF PROFESSIONAL SERVICES AND AUTHORIZING
CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH
WHEREAS, the City proposes to issue its water refunding revenue bonds (the
"Bonds") to refund the outstanding Tustin Public Financing Authority (Orange County,
California) 2013 Water Revenue Bonds; and
WHEREAS, it is appropriate that the Council formally authorize commencement of
proceedings, to appoint a municipal advisor, a bond counsel, a disclosure counsel, and
an underwriter, and to approve certain preliminary actions in connection with the
authorization, issuance, and sale of the Bonds;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUSTIN DOES
RESOLVE, DECLARE, DETERMINE, AND ORDER AS FOLLOWS:
SECTION 1. The Council authorizes appropriate officers and officials of the City to
proceed with the preparation of the necessary documents in connection with the issuance
and sale of the Bonds, subject to the final approval thereof by the Council at a subsequent
meeting.
SECTION 2. The Council hereby confirms the appointment of Fieldman, Rolapp &
Associates, Inc. as municipal advisor to the City in connection with the authorization,
issuance, and sale of the Bonds.
SECTION 3. The Council hereby confirms the appointment of Quint & Thimmig LLP as
bond counsel and disclosure counsel in connection with the authorization, issuance, and
sale of the Bonds.
SECTION 4. The Council hereby confirms the appointment of Stifel, Nicolaus & Company,
Incorporated as underwriter in connection with the authorization, issuance, and sale of
the Bonds.
SECTION 5. All actions of the officers, agents, and employees of the City that are in
conformity with the purposes and intent of this resolution, whether taken before or after
the adoption hereof, are hereby ratified, confirmed, and adopted.
SECTION 6. The Mayor, the City Manager, the Finance Director, and other appropriate
officers and officials of the City are hereby authorized and directed to take such action
Resolution 19-55
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and to execute such documents as may be necessary or desirable to effectuate the intent
of this resolution.
SECTION 7. This resolution shall be in full force and effect immediately upon its adoption.
Now, therefore, be it resolved by the City Council of the City of Tustin that the
resolution authorizing the commencement of proceedings in connection with the
proposed issuance of bonds to refund the outstanding Tustin Public Financing Authority
(Orange County, California) 2013 Water Revenue Bonds, confirming the appointment of
professional services and authorizing certain other actions in connection therewith is
hereto approved and adopted.
PASSED, APPROVED, AND ADOPTED by the City Council of the City of Tustin
this 19th day of November, 2019.
CHARLES E. PUCKETT,
Mayor
ATTEST:
ERICA N. YA DA,
City Clerk
Resolution 19-55
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STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF TUSTIN )
I, Erica N. Yasuda, City Clerk and ex -officio Clerk of the City Council of the City of Tustin,
California, do hereby certify that the whole number of the members of the City Council of
the City of Tustin is five; that the above and foregoing Resolution No. 19-55 was duly passed
and adopted at a regular meeting of the Tustin City Council, held on the 19th day of
November, 2019 by the following vote:
COUNCILMEMBER AYES:
COUNCILMEMBER NOES:
COUNCILMEMBER ABSTAINED:
COUNCILMEMBER ABSENT:
ERICA N. YASqDA,
City Clerk
Resolution 19-55
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Puckett, Bernstein, Clark, Cooper, Lumbard (5)
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