HomeMy WebLinkAboutResolution 1992 - 0146RESOLUTION NO.92-146
APPROVING MEMORANDUM AGREEMENT WITH ROURKE &
WOODRUFF TO SERVE AS THE DISTRICTS’CO-BOND
COUNSEL TO RESTRUCTURE THE 1986 COP ISSUE
A JOINT RESOLUTION OF THE BOARDS OF DIRECTORS OF
COUNTY SANITATION DISTRICT NOS.1,2,3,5,6,
7 AND 11 OF ORANGE COUNTY,CALIFORNIA,APPROVING
MEMORANDUM AGREEMENT WITH ROURKE &WOODRUFF TO
SERVE AS CO-BOND COUNSEL IN CONNECTION WITH
RESTRUCTURING THE DISTRICTS’CAPITAL IMPROVEMENT
PROGRAM 1986 CERTIFICATES OF PARTICIPATION ISSUE
WHEREAS,County Sanitation Districts Nos.1,2,3,5,6,7 and 11 of
Orange County,California,have heretofore issued Certificates of Participation
to partially finance the master planned capital improvement and expansion
requl rements;and,
WHEREAS,there have since been considerable advances in municipal debt
financing techniques and Districts’long—term debt financing strategies;and,
WHEREAS,to take advantage of these advances,staff and the Districts’
consulting financing team members,have reconTnended a restructuring of the
Districts Nos.1,2 and 3 1986 issue,and portions of the Districts Nos.1,2,
3,5,6,7 and 11 1991 Series B issue that has the potential of saving the
Districts a considerable amount of money over the remaining life of said issues;
and,
WHEREAS,the Fiscal Policy Comittee and Executive Comittee have
reconinended that the Districts’staff financing team proceed with restructuring
of said Certificates of Participation issues.
NOW,THEREFORE,the Boards of Directors of County Sanitation Districts
Nos.1,2,3,5,6,7 and 11 of Orange County,California,
DO HEREBY RESOLVE,DETERMINE AND ORDER:
Section 1 That the firm of Rourke &Woodruff is hereby appointed and
designated as Co—Bond Counsel with the Refunding Certificates of Participation,
1992 Series;and,
Section 2 That the tems and conditions of that certain Memorandum
Agreement from Rourke &Woodruff,dated June 30,1992,are hereby approved;and
Section 3 That payment for said special Co-Bond Counsel services,in an
amount not to exceed $15,000.00,is hereby authorized;and,
Section 4 That the General Manager is hereby authorized and directed to
execute said Memorandum Agreement on behalf of the Districts.
Section 5 That the Boards of Directors of Districts Nos.1,2 and 3
hereby rescind Resolution No.92—92 adopted July 8,1992.
PASSED AND ADOPTED at a regular meeting held October 14,1992.
STATE OF CALIFORNIA)
)SS.
COUNTY OF ORANGE )
I,PENNY KYLE,Assistant Secretary of the Boards of Directors of County
Sanitation Districts Nos.1,2,3,5~,6,7 and 11 of Orange County,
California,do hereby certify that the foregoing Resolution No.92—146 was
passed and adopted at a regular meeting of said Boards on the 14th day of
October,1992,by the following vote,to wit:
District 1
AYES:Dan Griset,Chairman,Fred Barrera,Thomas R.Saltarelli,
Roger R.Stanton,James A.Wahner
NOES:None
ABSENT:None
District 2
AYES:John Collins,Chairman pro tern,Fred Barrera,Bob Bell,
Dan Griset,John M.Gullixson,William D.Mahoney,
Robert H.Main,Carrey J.Nelson,Roger R.Stanton
NOES:None
ABSENT:A.B.°Buck”Catlin,Arthur G.Newton,Irv Pickler
District 3
AYES:Sal A.Sapien,Chairman,John Collins,Norman E.Culver,
Burnie Dunlap,James V.Evans,James H.Flora,Don R.
Griffin,Frank Laszlo,Eva G.Miner,Richard Partin,Jim
Silva,Roger R.Stanton
NOES:None
ABSENT:A.B.“Buck°Catlin,Pat McGuigan,Try Pickler,Charles E.
Sylvia
District 5
AYES:Ruthelyn Pluniner,Chairman,Phil Sansone,Don R.Roth
NOES:None
ABSENT:None
District 6
AYES:James A.Wahner,Chairman,Evelyn Hart,Don R.Roth
NOES:None
ABSENT:None
District 7
AYES:Charles E.Puckett,Chairman,Fred Barrera,John C.
Cox,Jr.,Barry Hamond,Don R.Roth,James A.Wahner
NOES:None
ABSENT:Robert Richardson
District 11
AYES:Grace Winchell,Chairman,Jack Kelly,Roger R.Stanton
NOES:None
ABSENT:None
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IN WITNESS WHEREOF,I have hereunto set my hand and affixed the official
seal of County Sanitation District No.1 on behalf of itself and Districts
Nos.2,3,5,6,7 and 11 of Orange County,California,this 14th day of
October,1992.
~
Penny Kyle,/,~~is~’nt Secretary
Boards of Ltttect~fs,County
Sanitation Districts Nos.~1,2,3,5,
6,7 and 11 of Orange County,
California