Resolution No. 3982r,
I
RESOLUTION NO 3982
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CYPRESS, CALIFORNIA, APPOINTING CERTAIN CONSULTANTS FOR THE
PROPOSED REFINANCING OF THE SINGLE FAMILY RESIDENTIAL
REVENUE BONDS OF 1980
WHEREAS, pursuant to the Constitution and the laws of the
State of California, and particularly the municipal charter of
the City, the City of Cypress Orange County California (the
"Issuer") has issued $25 000,000 aggregate principal amount of
its mortgage revenue bonds for the purpose of financing mortgage
loans for one -to four -family residences for low and moderate
income families (the "Mortgage Loans"); and
WHEREAS, the Issuer has been presented with a plan of
refinancing by Whipple, Kinsell & Co., Inc. Stifel Nicolaus &
Company Incorporated and Meridian Capital Markets, Inc. (the
"Underwriters") whereby the Bonds are to be refunded or the
Mortgage Loans or a portion thereof are to be sold or assigned by
the issuer and provision of the principal of and interest on the
Bonds will be made (the "Plan of Refinancing"); and
WHEREAS, the Issuer has determined that it's to their best
interest to pursue the Plan of Refinancing with the Underwriters;
NOW THEREFORE, Be it Resolved by the City Council of the
City of Cypress, as follows
Section 1 The firm of Whipple, Kinsell & Co Inc is
hereby appointed as the managing underwriter in connection with
the issuance of bonds related thereto The Mayor and the City
Clerk are hereby authorized to execute, attest and deliver an
agreement with said firm for services in connection with said
bonds, the fees of said firm to be payable from the proceeds of
such financing
Section 2 The law firm of Chapman & Cutler is hereby
appointed as bond counsel to the City in connection with the
issuance of bonds related thereto The Mayor and the City Clerk
are hereby authorized to execute, attest and deliver an agreement
with said firm for services in connection with the said bonds
the fees of said firm to be payable from the proceeds of such
financing
Section 3 This Resolution shall become effective
immediately upon its adoption
PASSED AND ADOPTED by the City Council of the City of
Cypress California at a regular meeting held on the 9th day
of September 1991
ATTEST*
CITY CLERK OF CITY OF CYPRESS
STATE OF CALIFORNIA
ss
COUNTY OF ORANGE
(YO 4L/0,4404s+-
MAYOR
OF -
MAYOR OF THEE CITY CYPRESS
I DARRELL ESSEX, City Clerk of the City of Cypress DO
HEREBY CERTIFY that the foregoing Resolution was duly adopted at
an adjourned regular meeting of the said City Council held on the
9th day of September 1991 by the following roll call
vote.
AYES 5 COUNCIL MEMBERS Age, Kerry, Nicholson, Partin
NOES 0 COUNCIL MEMBERS None and Bowman
ABSENT' 0 COUNCIL MEMBE,)2S None
City Clerof the' City of Cypress