HomeMy WebLinkAbout1989-07-11; City Council; Resolution 89-229r *
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RESOLUTION NO. 89-229
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, SELECTING THE FIRM
OF KADIE-JENSEN, JOHNSON 8. BODNAR TO ACT AS
FINANCIAL ADVISOR FOR THE PROPOSED MELLO-ROOS
COMMUNITY FACILITIES
WHEREAS, the City Council has directed staff to investigate thc
creation of a City-wide Mello-Roos Community Facilities District to func
a wide range of Capital Improvements; and
WHEREAS, the creation of such a District requires a detail e(
analysis of project costs, funding schedules, tax formulas and cash flows:
and
WHEREAS, the City staff has worked with the firm of NBS/Lowry tc
create proposed tax formulas and project schedules; and
WHEREAS, these taxing formulas and cash flow projections should be
reviewed by an independent financial consultant prior to District
formation to verify the marketability of any district that may result; anc
WHEREAS, the City of Carl sbad may recover the cost of any consul tin5
services related to the creation of the Mello-Roos Community Facilities
District from bond proceeds from such District; and
WHEREAS, the City staff has received proposals from three qualified
firms; and
WHEREAS, the firm of Kadie-Jensen, Johnson &. Bodnar has been
selected by the City Council as the firm most able to meet the needs of
the City in this endeavor.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Carl sbad, as fol 1 ows :
1. That the above citations are true and correct.
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2. That the proposal of the firm of Kadie-Jensen, Johnson & Bodnar
is hereby accepted by the City Council.
3. That funds in the amount of $17,500 is hereby appropriated fror
the General Fund unappropriated fund balance to the Finance Departmeni
budget to cover the costs of the financial advisor services.
PASSED, APPROVED AND ADOPTED by the City Council at a regul a1
meeting thereof held on the llthday of July , 1989, by thc
following vote, to wit:
AYES: Council Members Lewis, Kulchin, Pettine, Mamaux and Larso
NOES : None
ABSENT : None
ATTEST:
- lllQzt+ 64 ezzL" ALETHA L. RAUTENKRANZ, City C1 e&
(SEAL)