HomeMy WebLinkAboutCC RES 83-102RESOLUTION NO. 83-102
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF PALM DESERT APPOINTING BOND COUNSEL,
AUTHORIZING EXECUTIOIV OF AGREEMEIVT FOR BOND
COUNSEL SERVICES AND DESIGNATING UNDERWRITER
FOR TAX-EXEMPT MULTI-FAMILY RENTAL HOUSING
REVE,NUE BONDS.
WHEREAS, The City of Palm Desert, California, desires to undertake certain
proceedings for the issuance of revenue bonds for a multi-family rental housing
development to be constructed by ONE QUAIL PLACE, a California limited partnership,
and further desires to employ Bond Counsel and appoint the Managing Underwriter in
connection therewith; and
WHEREAS, a Special Counsel Agreement has been received from the firm of Brown
and Nazarek for said Bond Counsel Services, and a proposal has been received from the
firm of Bancroft, O'Connor, Chilton and Lavell, Inc., for services pertaining to the
underwriting of said issue.
NOW, THEREFORE, BE IT RESOLVED by ihe City Council of the City of Palm
Desert, California, as follows:
SECTION 1: The agreement for Special Counsel Services by and between the City
and Brown and Nazarek in connection with said revenue bond financing
proceedings, a copy of which is on file with the City Clerk of the City, is
hereby approved and the Mayor is authorized and directed to execute said
agreement in the name of and on behalf of the City of Palm Desert.
SECTION 2: The firm of Bancroft, O'Conner, Chilton and Lavell, Inc., is hereby
appointed and designated to act as Managing Underwriter pursuant to a
proposal on file with the City Clerk of the City.
�
t SECTION 3: This resolution shall take effect immediately.
�-• PASSED, APPROVED and ADOPTED by the City Council of the City of Palm
Desert, California, at a regular meeting held on this 13th day of October, 1983, by the
following vote, to wit:
AYES: JACKSON, KELLY, PULUQI, SNYDER, WILSON
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
ATTEST:
- , i, a .
SHEILA R. GILi�GAN, City !e
City of Palm Desert, Cal' nia
/lr
.�
�. ,