HomeMy WebLinkAboutRESOLUTIONS - 12101991 - 91-783 RESOLUTION NO.
RESOLUTION APPROVING AGREEMENT FOR
FINANCIAL ADVISORY SERVICES
REASSESSMENT DISTRICT NO. 1991-2
(REFUNDING WAYSIDE PLAZA A.D. NO. 1985-3)
The Board of Supervisors of the County of Contra Costa
resolves:
As part of the proceedings for Reassessment District
No. 1991-2 (Refunding Wayside Plaza A.D. No. 1985-3) , County of
Contra Costa, California, this Board approves that certain
agreement between the County of Contra Costa, and LIBERTY PUBLIC
FINANCIAL ADVISORS, dated December 10, 1991, and on file with the
Clerk of the Board of Supervisors.
The Board authorizes Liberty Public Financial Advisors
to obtain an offer for the purchase of refunding bonds for
presentation to the Board of Supervisors.
The Chairman of the Board is authorized to sign the
agreement and the Clerk of the Board is authorized to attest its
execution.
I HEREBY CERTIFY that the foregoing resolution was duly
and regularly adopted by the Board of Supervisors of the County
of Contra Costa, State of California, at regular meeting thereof,
held on the 10th day of December, 1991.
ATTEST: OF SUPER V
PHIL BATCHELOR, Clerk of the *i`• _�':*
Board of Supervisors and
County Administrator
By1
(j) review bids and recommend which bid from a qualified
bidder produces the lowest net interest costs .
(k) or in a negotiated sale, recommend an underwriter (s) , and
supervise the underwriter (s) as bonds are being marketed,
getting information as to actual method of sales .
(1) review recent and comparable market interest rates and
recommend whether interest rates and other terms in the
final bond purchase contract are competitive .
(m) and in either type of sale, aid in the closing
preparations and attend the closing.
2 . The services of Financial Advisor under this
agreement shall not include the following:
(a) Underwriting the bond issue .
3 . In consideration. of the services set forth in
paragraph 1, Client shall pay to Financial Advisor the following
fees and costs :
(a) The fee of Financial Advisor shall be a fixed fee as set
forth in the engineer' s report as finally approved under
Section 10312 of the Streets and Highways Code .
(b) The fee of Financial Advisor shall be the amount of
$27, 500 . 00 .
(c) Costs shall be reimbursed to Financial Advisor as
follows :
1) Cost of printing and distribution of the official
statement, notice to bidders, and other official
documents .
2) Costs of Federal Express or similar delivery
service .
The cost of other services for which Financial Advisor makes
arrangements under this agreement (such as Underwriter' s
Discount, Official Statement printing costs) shall be billed
to the Client and shall be paid by Client directly to the
payee.
(d) Payment by Client of the financial advisory fee is
contingent upon the sale of bonds representing unpaid
assessments in the district . If for any reason, bonds
are not sold, Financial Advisor shall be paid no fee .
Both the fee and costs are payable upon delivery of the
bonds .
4 . Financial Advisor certifies that it has no interest,
AGREEMENT FOR FINANCIAL ADVISORY SERVICES
REASSESSMENT DISTRICT NO. 1991-2 (REFUNDING WAYSIDE PLAZA
ASSESSMENT DISTRICT NO. 1985-3)
This is an agreement for financial advisory services between
the COUNTY OF CONTRA COSTA, a political subdivision of the State of
California, referred to as Client, and LIBERTY PUBLIC FINANCIAL
ADVISORS, Pleasanton, California, referred to as Financial Advisor.
1 . Client retains Financial Advisor as financing consultant
to perform the following consulting services relating to
Reassessment District No . 1991-2 (Refunding Wayside Plaza
Assessment District No . 1985-3) , County of Contra Costa, State of
California.
(a) present the potential alternatives in financing the
proposed project .
(b) conduct due diligence by reviewing all existing
information regarding outstanding debt, bond covenants,
prior debt repayment, and appropriate ordinances or
resolutions, including the engineering, architectural,
planning, legal and financial information regarding the
project .
(c) assist in the selection of other financing team members
as - requested, including the trustee, printer, and
underwriter.
(d) recommend a reserve fund, capitalized interest, and costs
of issuance.
(e) recommend specific terms for the securities including
maturity schedules, call features, refunding protection,
and others .
(f) prepare a set of financing documents and prepare an
official statement for use in the marketing of the bonds .
(g) recommend the timing of the marketing of the bond issue
based on the conditions in the market .
(h) recommend to the issuer which method of sale should be
chosen to market the bonds .
(i) in a competitive sale, prepare and distribute notice .of
sale of bonds and official statement to prospective
bidders .
either direct or contingent, in any property or contract arising
from or affected by the assessment district, except as Financial
Advisor under this agreement . Financial Advisor does not represent
any owner of property within the proposed boundaries of this
assessment district, and has not received a fee from any .source for
services connected with the project ..
DATED : % , 1991
CONTRA COSTA COUNTY, a political
,�Onp SU PER V,SURS' subdiv is±-on of the State of California
; a
moo• �= Chairman of the Board of Supervisors
°OSTM couN'� ,
ATTEST :
By t
Clerk of th Board S ervisors
LIBERTY PUBLIC FINANCIAL ADVISORS
By
Nadi e McKinney Lee
By '
Charles A. Lee