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CC RESOLUTION 3465RESOLUTION NO. 3465 RESOLUTION OF THE CITY COUNCIL OF It THE CITY OF EL SEGUNDO, CALIFORNIA, AUTHORIZING THE SALE OF NEGOTIABLE REVENUE ANTICIPATION NOTES BY EITHER PUBLIC SALE OR PRIVATE NEGOTIATION AND APPOINTING SPECIAL BOND COUNSEL AND FINANCIAL CONSULTANT WHEREAS, funds are needed by the City of E1 Segundo for certain expenditures including but not limited to the payment of current expenses, capital expenditures, and the discharge of obligations or indebtedness of the City; and WHEREAS, the City may borrow for such purposes, the indebtedness to be represented by a note or notes issued to the purchaser hereof pursuant to Article 7.6, Chapter 4, Part 1, Division 2, Title 5 of the Government Code of the State of California; and WHEREAS, said Article permits the sale of such notes by either public sale following invitation of sealed bids or by private negotiation with potential purchasers; and WHEREAS, the current state of the Municipal Bond Market requires the flexibility to sell such notes by either of said methods, or to privately negotiate the sale of the notes following an unsuccessful or unsatisfactory public sale. NOW, THEREFORE, BE IT RESOLVED BY THE City Council of the City of El Segundo, California, as follows: Section 1. This City Council finds and determines that it is necessary for the City to issue and sell negotiable notes for the purposes set forth above. -1- 4/14/87 5/211/002 Section 2. The Treasurer of the City is hereby author- ized to undertake all appropriate steps to implement the sale of the notes either by public bid or by private negotiation, provided, however, that award of the sale of the notes by either of said methods shall be authorized by subsequent resolution of this Council. Section 3. The services of a qualified special bond counsel being required to ensure the validity and legality of the issuance and sale of the notes, the law firm of Rutan & Tucker is hereby appointed as such. Section 4. The services of a qualified financial con- sultant being required to prepare an official statement for the sale of the notes and to perform other duties incident to the sale of the notes, the firm of Seidler - Fitzgerald Public Finance is hereby appointed as such. APPROVED AND ADOPTED THIS 21st day of April, 1987. ARTHUR E. JONES City Manager of 'Ehe City of 1 Segundo City Clerk of the City of E1 Segundo 4/14/87 5/211/002 -2- v s I. Ronald L. Hart, City Clerk of the City of E1 Segundo do hereby certify that the foregoing Resolution was intro- duced at a regular meeting of the City Council of the City of E1 Segundo held on the 21st day of April, 1987, and was finally passed at a regular meeting of the City Council of the City of El Segundo held on the 21st day of April, 1987, by the following vote: AYES: COUNCIL MEMBERS: Mayor Jack E. Siadek, H. R. "Bob" Anderson, Keith Schuldt, Carl Jacobson and Alan West NOES: COUNCIL MEMBERS: NONE ABSENT: COUNCIL MEMBERS: NONE ABSTAINED: COUNCIL ME] 4/14/87 5/211/002 City Clerk of the City of E1 Segundo -3- 4 Ll s Ll CERTIFICATE OF POSTING AGENDA I, Ronald L. Hart, hereby certify as follows: I am City Clerk of the City of E1 Segundo. At least 72 hours prior to the following specified regular meeting of said Board, I caused to be posted a list of items constituting the agenda for said meeting at 350 Main Street, E1 Segundo, California, a place where members of the public might view the same, said meeting being a regular meeting held on April 21, 1987. Copies of said list constituting said agenda, is in all respects the same as that so posted, is attached hereto and incorporated herein by reference. I certify under penalty of perjury that the foregoing is true and correct. Executed at El Segundo, California, this 22nd day of April, 1987. 4/14/87 5/211/126.2 E1 Segundo IN STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) SS CITY OF EL SEGUNDO ) I, Ronald L. Hart, City Clerk of the City of E1 Segundo, California, DO HEREBY CERTIFY that the whole number of members of the City Council of the said City is five; that the foregoing resolution, being Resolution No. 3465 was duly passed and adopted by the said City Council, approved and signed by the Mayor of said City, and attested by the City Clerk of said City, all at a regular meeting of the said Council held on the 21st day of April, 1987, and that the same was so passed and adopted by the following vote: AYES: Councilmembers Anderson, Jacobson, Schuldt, West, and Mayor Siadek NOES: None ABSENT: None WITNESS MY HAND AND THE OFFICIAL SEAL OF SAID CITY 0 this 27th day of April, 1987.