HomeMy WebLinkAbout1993-08-17; City Council; 12365; DESIGNATION OF PERSONS TO ACT ON THE BEHALF OF THE ISSUER FOR CERTAIN DEBT OBLIGATIONSDESIGNATION OF PERSONS TO ACT ON THE BEHALF
OF THE ISSUER FOR CERTAIN DEBT OBLIGATIONS
ECOMMENDED ACTION:
Adopt Resolution No. 9 3 c a3ydesignating persons to act on the behalf of the issuer for certain debt obligations.
ITEM EXPIANATION:
The City has issued various debt obligations in which either a paying agent or trustee has been hired to administer the debt repayment. However, from time to time, it is necessary
for the City to instruct the trustee/paying agent as to the investment or transfer of funds and payment of expenses. Due to changes in the City's organization, it is now necessary to
update the list of those persons authorized to instruct the trustee/paying agent. The attached resolution provides the authorization for certain City employees to act on behalf
of the City with respect to the various debt obligations.
FISCAL IMPACT:
1. Resolution No. '33-a3 ' designating persons to act on the behalf of the issuer for
certain debt obligations.
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RESOLUTION NO. 93-239
A RESOLUTION OF THE CITY COUNCIL OF THE
PERSONS TO ACT ON THE BEHALF OF THE ISSUER
FOR CERTAIN DEBT OBLIGATIONS
CITY OF CARLSBAD, CALIFORNIA DESIGNATING
WHEREAS, the following debt obligations are currently
outstanding:
1. City of Carlsbad Public Improvement Corporation -
Certificates of Participation (Hosp Grove Project)
City of Carlsbad Improvement Bonds -
Assessment District No. 85-2 (College Boulevard)
City of Carlsbad Limited Obligation Improvement Bonds -
Assessment District No. 88-1 (Alga Road)
City of Carlsbad Limited Obligation Improvement Bonds -
Assessment District No. 86-1 (Palomar Airport Road)
City of Carlsbad Variable Rate Demand Multifamily
Housing Revenue Refunding Bonds - Series A of 1993
(La Costa Apartments Project)
City of Carlsbad Single Family Residential Mortgage
Revenue Bonds - Issue of 1983
City of Carlsbad Parking Authority -
1969 Parking Revenue Bonds
City of Carlsbad Parking Authority -
1981 Parking Revenue Bonds; and
2.
3.
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6.
7.
8.
WHEREAS, it is necessary from time to time for the issuer to
instruct the trustee/paying agent for these debt obligations as to the
investment of funds, transfers of money and other transactions relating to the
debt issues; and
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WHEREAS, under the terms of the trust indentures/paying agent
agreements, the Council has the authority to designate certain persons to act
on behalf of the Council with respect to the various agreements.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Carlsbad, California, as follows:
1.
2.
That the above recitations are true and correct.
That the following persons are duly authorized to act on the
behalf of the Council with respect to the trust indentures/paying agent
agreements for the above named debt issues which would include signing
written instructions, consents, certificates and/or other securities, etc.:
City Manager
Assistant City Manager
Financial Management Director
Finance Director
Assistant Finance Director
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PASSED, APPROVED AND ADOPTED at a regular meeting of the
AUGUST , 1993, by the following vote, City Councd on the 17th day of
to wit:
AYES: Council Members Lewis, Stanton, Nygaard, Finnila
NOES: None
ABSENT: Council Member Kulchin
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AITEST:
u.
ALETHA L. RA~ENKRANZ, city Clerlcl (SEAL)