HomeMy WebLinkAboutRDA RES 327RESOLUTION NO. 327
RESOLUTION APPOINTING AN
UPIDERWRITER AND BOND COUNSEL
WHEREAS, Palm Desert Redevelopment Agency (the "Agency") issued its Variable
Rate Demand 1994 Multi-family Housing Revenue Bonds (Desert Rose Project) (the
"Outstanding Bonds") to finance a multi-family housing project (the "Project");
WHEREAS, the Agency now owns and operates the Project and desires to issue new
bonds to either pay off the Outstanding Bonds and/or provide funds for the unfinanced costs of
the Project, as well as the marketing and management of the Project (the "Bonds");
NOW, THEREFORE, be it resolved by the Agency as follows:
1. Redwood Securities Group, Inc., is hereby selected and retained by the Agency
to serve as the sole underwriter in connection with the issuance of the Bonds and is hereby
authorized to assist the Agency in structuring the transaction and to present the Agency with an
offer to purchase the Bonds in the form of a bond purchase agreement.
2. Popham, Haik, Schnobrich & Kaufman, Ltd. Is hereby appointed Bond Counsel
by the Agency in connection with the issuance and sale of the Bonds and is hereby authorized
to proceed with the preparation of all documents, resolutions, certificates and agreements
necessary for the issuance of the Bonds.
3. This Resolution shall take effect immediately upon adoption.
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PASSED, APPROVED AND ADOPTED on this 27 day of J�e , 1996, by
following vote to wit:
AYES: BENSON, KELLY, SPIEGEL, SNYDER
NOES: NONE
ABSENT: cRITEs
ABSTAIN: rrorrE
_ ATTEST:
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Sheila ` . Gilligan, Secretary
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