HomeMy WebLinkAboutCC RES 23-60Resolution 23-60
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RESOLUTION NO. 23-60
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TUSTIN,
CALIFORNIA, AUTHORIZING THE COMMENCEMENT OF PROCEEDINGS IN
CONNECTION WITH THE PROPOSED ISSUANCE OF A PRIVATE
PLACEMENT FINANCING TO FUND CERTAIN CAPITAL IMPROVEMENT
PROJECTS OF THE TUSTIN WATER ENTERPRISE, CONFIRMING THE
APPOINTMENT OF PROFESSIONAL SERVICES AND AUTHORIZING
CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH
WHEREAS, the City proposes to issue a private placement financing (the
“Financing”) to finance certain Tustin Water Enterprise capital improvement projects; and
WHEREAS, it is appropriate that the City Council formally authorize
commencement of proceedings, to appoint a municipal advisor, a bond counsel, and a
placement agent, and to approve certain preliminary actions in connection with the
authorization, and issuance of the Financing.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUSTIN DOES
RESOLVE, DECLARE, DETERMINE, AND ORDER AS FOLLOWS:
SECTION 1. The City Council authorizes appropriate officers and officials of the
City to proceed with the preparation of the necessary documents in connection with the
issuance of the Financing, subject to the final approval thereof by the City Council at a
subsequent meeting.
SECTION 2. The City Council hereby confirms the appointment of Fieldman,
Rolapp & Associates, Inc. as municipal advisor to the City in connection with the
authorization, and issuance of the Financing.
SECTION 3. The City Council hereby confirms the appointment of Quint &
Thimmig LLP as bond counsel in connection with the authorization, and issuance of the
Financing.
SECTION 4. The City Council hereby confirms the appointment of Stifel, Nicolaus
& Company, Incorporated as placement agent in connection with the authorization, and
issuance of the Financing.
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 Acting City Manager, the Finance Director, and other
appropriate officers and officials of the City are hereby authorized and directed to take
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Resolution 23-60
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such action 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.
PASSED AND ADOPTED at a regular meeting of the City Council held on the 5th
day of December 2023.
_________________________________
AUSTIN LUMBARD,
Mayor
ATTEST:
_______________________________
ERICA N. YASUDA,
City Clerk
APPROVED AS TO FORM:
________________________________
DAVID E. KENDIG,
City Attorney
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Resolution 23-60
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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. 23-60 was duly passed
and adopted at a regular meeting of the Tustin City Council, held on the 5th day of December,
2023 by the following vote:
COUNCILMEMBER AYES:
COUNCILMEMBER NOES:
COUNCILMEMBER ABSTAINED:
COUNCILMEMBER ABSENT:
COUNCILMEMBER RECUSED:
____________________________
ERICA N. YASUDA,
City Clerk
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Lumbard, Clark, Gallagher, Gomez, Schnell (5)
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