HomeMy WebLinkAboutResolution 1993 - 0145RESOLUTION NO.93-145
APPROVING LETTER AGREEMENT WITH ORRICK
HERRINGTON &SUTCLIFFE TO SERVE AS THE DISTRICTS’
SPECIAL COUNSEL FOR THE TAXABLE COMMERCIAL PAPER
PROGRAM
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,APPROVING
LETTER AGREEMENT WITH ORRICK HERRINGTON &SUTCLIFFE
TO SERVE AS THE DISTRICTS’SPECIAL COUNSEL FOR THE
TAXABLE COMMERCIAL PAPER PROGRAM (TCPP)
WHEREAS,the Boards of Directors have received and
considered a report from their staff and consulting finance team
indicating that the Districts could realize a substantial net
annual financial gain by implementing a Taxable Commercial Paper
Program for tax and user fee revenue “dry—period”funding;and,
WHEREAS,based on said report,it is deemed in the
Districts’best interests to implement such a program;and,
WHEREAS,the review of special legal counsel are necessary
to implement said program.
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 firm of Orrick Herrington &Sutcliffe
is hereby appointed and designated as Special Counsel for the
Taxable Commercial Paper Program;and,
•Section 2 That the terms and conditions of that certain
Letter Agreement from Orrick Herrington &Sutcliffe,dated
October 14,1993,are hereby approved;and,
Section 3 That payment for said Special Counsel services,
in an amount not to exceed $30,000.00,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.
PASSED AND ADOPTED at a regular meeting held November 10,
1993.
RAG89-145
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,
3.1,13 and 14 of Orange County,California,do hereby certify
•that the foregoing Resolution No.93-145 was passed and adopted
at a regular meeting of said Boards on the 10th day of November,
1993,by the following vote,to wit:
AYES:Fred Barrera,Bob Bell,George Brown,Buck Catlin,
John Collins,John C.Cox,Jr.,Jan Debay,
James Flora,Don R.Griffin,John M.Gullixson,
Barry Hammond,Evelyn Hart,Gail Kerry,Victor
Leipzig,Thomas E.Lutz,William D.Mahoney,
Eva Miner,Ted Moreno,Carrey J.Nelson,Glenn
Parker,Irv Pickier,Leslie Pontious,Charles E.
Puckett,Margie Rice,Earle Robitaille,Thomas R.
Saltarelli,Phil Sansone,Sal Sapien,Jim Silva,
Sheldon Singer,Roger Stanton,William G.Steiner,
Peer A.Swan,Charles E.Sylvia,James Wahner,
Henry Wedaa,George L.Zlaket
NOES:None
ABSENT:Maria Moreno
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.2,3,5,6,7,11,13 and 14 of
Orange County,California,this 10th day of November,1993.
Penny Kyle s stant Secretary
•Boards of Dir ors,County
Sanitation Dis ricts Nos.1,2,3,
5,6,7,11,13 and 14 of
•Orange County,California