HomeMy WebLinkAboutResolution 1993 - 0135RESOLUTION NO.93-135
MODIFYING LETTER AGREEMENT OF MAY 13.1993.WITH
MERRILL LYNCH AND PAINEWEBBER FOR UNDERWRITING
SERVICES FOR THE FIXED-TO-FLOATING INTEREST
RATE SWAP (1993 SWAP)
A JOINT RESOLUTION OF THE BOARDS OF DIRECTORS OF
COUNTY SANITATION DISTRICTS NOS.1,2,3,5,6,7,
11,13 AND 14 OF ORANGE COUNTY,CALIFORNIA,
MODIFYING LETTER AGREEMENT DATED MAY 13,1993 WITH
MERRILL LYNCH AND PAINEWEBBER FOR UNDERWRITING
SERVICES IN CONNECTION WITH THE DISTRICTS’
FIXED-TO-FLOATING INTEREST RATE SWAP (1993 SWAP)
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WHEREAS,by Joint Resolution No.93-66 of the Boards of
Directors of County Sanitation Districts Nos.1,2,3,5,6,7,
11,13 and 14 of Orange County,California,a letter agreement
dated May 13,1993,appointing Merrill Lynch and PaineWebber
jointly as underwriters on the Fixed-to-Floating Interest Rate
SWAP (1993 SWAP)was.approved;and,
WHEREAS,PaineWebber has advised the Districts of its desire
to withdraw from the transaction as an underwriter.
NOW,THEREFORE,the Boards of Directors of County Sanitation
Districts Nos.1,2,3,5,6,7,11,13 and 14 of Orange County,
California,
DO HEREBY RESOLVE,DETERMINE AND ORDER:
Section 1 That the appointment of PaineWebber as a joint
underwriter is hereby cancelled in the Fixed-to-Floating Interest
Rate SWAP (1993 SWAP).
Section 2 That the terms and conditions of that certain~
Letter Agreement from Merrill Lynch and PaineWebber,dated
May 13,1993,are hereby approved;and,
Section 3 Merrill Lynch shall continue as the transaction
underwriter in accordance with the terms of the May 13,1993
letter and their September 21,1993 letter.
PASSED AND ADOPTED at a regular meeting held October 13,
1993.
RAG%.135
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,
ii,13 and 14 of Orange County,California,do hereby certify
that the foregoing Resolution No.93-135 was passed and adopted
at a regular meeting of said Boards on the 13th day of October,
1993,by the following vote,to wit:
AYES:Fred Barrera,Bob Bell,George Brown,
John Collins,John C.Cox,Jr.,Jan Debay,
James Evans,James Ferryman,James Flora,
Don R.Griffin,John M.Guliixson,Barry
Hammond,Evelyn Hart,Gail Kerry,Victor
Leipzig,Thomas E.Lutz,William D.Mahoney,
Eva Miner,Ted Moreno,Carrey J.Nelson,
Glenn Parker,Leslie Pontious,Charles E.
Puckett,Thomas R.Saltarelli,Phil Sansone,
Sheldon Singer,Peer A.Swan,Charles E.
Sylvia,James Wahner,Henry Wedaa,Grace H.
Wincheli,George L.Zlaket
NOES:None
ABSTENTIONS:William G.Steiner
ABSENT:Buck Catlin,Maria Moreno,Irv Pickier,
Sal Sapien,Jim Silva
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,ii,13 and 14 of
Orange County,California,this 13th day of October,1993.
‘I
Penny K~(]k,~ istant Secretary
Boards o’~Di]&~’ctors,County
Sanitation Districts Nos.1,2,3,
5,6,7,11,13 and 14 of
Orange County,California