HomeMy WebLinkAbout1978-06-20; City Council; 3481-13; Bond Counsel FeesCITY OF CARLSBAD
AGENDA
DATE : June 20, 1978
DEPARTMENT: City Manager
Initial:
Der>t. Hd. L
C. c* Mgr. Atty-'F
J
BOND COyNSEL FEES - PLAZA CAMINO REAL EXPANSION Sub] ect :
Transfer of Funds
Statement of the Matter
)i I' At the City Council meeting on January 3, 1978, Council was presented with a proposal from the May Stores Shopping Center,Inc.
for City participation in the addition of a fifth major store
to the Plaza Camino Real Shopping Center. Before responding
to the proposal, the City Council directed the,City Attorney to obtain an opinion from Bond Counsel in regard to the various
legal transactions necessary to implement the proposal.
The costs involved from January 31, 1978 through May 31, 1978 total $3,502.50 and a copy of the statement from Stradling, Yocca, Carlson & Rauth is attached.
A fund transfer from the General Fund to cover the aforementioned costs has been prepared.
Exhibit
Statement from Bond Counsel dated June 7, 1978
Resolution No. ,yd<v authorizing transfer of funds.
Recommendat ion
Adopt Resolution No. &4g? authorizing the transfer of funds.
- Counci 1 action
6-20-78 Resolution #5459 was adopted, authorizing transfer of funds to cover costs of bond counsel fees. . ,
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' RE: OCEANSIDE EXPANSION .I/
1/31/78 - Telephone conference with Attorney
Roth
2/13/78 - Review 0 & M opinion; research re same
2/22/78 - Conference with Caldicot re
expansion of center
2/24/78 - Discussion with Caldicot and
City Attorney
2/25/78 - Interoffice conference re
Oceanside transaction
2/27/78 - Telephone conference with City
Attorney re expansion proposal
2/23/78 - Research and draft opinion letter
2/24/78 - regarding expansion of shopping
3/3/78 .- center into Oceanside 3/7/78 -
3/13/78 -
3/2/78 - Conference with City Attorney and
City Manager
3/13/78 - Review correspondence
3/20/78 - Conference with Vince Biondo . . e,.,. r
25.9 hours $2,127.50
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STRADLINO, YOCCA, CARLSON & RAUTH
ATTORNEYS AT LAW
35s SAN MIGUEL DRIVE
POST OFFICE BOX 7680
NEWPORT BEACH, CALIFORNIA 02060
TELEPHONE (7i4) 640-7035
IN REPLY PLEASE REFER TO:
June 7, 1978
City of Carlsbad
1200 E11a Avenue Carlsbad, California 92008
RE: EXCHANGE AGREEMENT (2062-01)
5/23/78 - Conference with Attorney Roth
& City Attorney re exchange
agreement
5/25/78 - Review and revise current draft
of exchange agreement
2.3. hours $ 172.50 I
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RE: SUBORDINATION (2062-02)
5/3/78
5/8/78
5/2 3/7 8
5/24/78
5/25/78
5/31/78
Review REA & bond documents re
subordination and access ease-
ments; draft memo and opinion letter re same
Review letter re subordination
Conference witn Attorney Roth &
City Manager re subordination, access easements & miscellaneous matters
Telephone conference with Attorney Roth re subordination
Draft letter re bond documents,
subordination and access ease-
ments.
Telephone conference with Attorney Roth re access easements
$1,202.50. ,.., .... i5.7' hours .
$3,502.50 --------- -I-------
TOTAL DUE
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RESOLUTION NO. 5459
- A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF CARLSBAD, CALIFORNIA, APPROVING
A TRANSFER OF FUNDS, RELATIVE TO BOND COUNSEL COSTS IN CONNECTION WITH PLAZA CAMINO REAL EXPANSION.
BE IT RESOLVED by the City Council of the City of Carlsbad
9s follows:
1. That the transfer of three thousand five hundred two
Aollars and fifty cents ($3,502.50)for Bond Counsel costs involved
in connection with Plaza Camino Real Expansion is hereby
authorized and approved.
2. That Department of Finance Fund Transfer No. 108 on file
in said department and incorporated by reference herein is
approved.
PASSED, APPROVED AND ADOPTED at a regular meeting of the
2ity Council on the 20th day of June , 1978, by the
Eollowing vote, to wit:
AYES : Councilmen Packard, Skotnicki, Anear and
Councilwoman Casler NOES : None
None ABSENT : FdLP4- 0-w
RONALD C. PACKARD, Mayor
ITTEST: