HomeMy WebLinkAbout1993-08-17; Housing & Redevelopment Commission; 237; Various Debt ObligationsHOUSING AND-9EDEYECOPMENT COMMW-3N - AGENDA BILL ;Jfo
LB# cf137 IIILE
IITG. B/17/93 DESIGNATION OF PERSONS TO ACT ON THE BEHALF
EPT. FIN
OF THE ISSLJER FOR CERTAIN DEBT OBLIGATIONS
RECOMMENOED ACTION:
CITY MGR.,~
Adopt Resolution No. d3 2 d es&rating persons to act on the behalf of the issuer for
certain debt obligations.
ITEM EXPLANATION:
The Carlsbad Housing & Redevelopment Commission 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 Commission to instruct the
trustee/paying agent as to the investment or transfer of funds and payment of expenses.
Due to changes in City staff representation for the Commission, 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 employees to act on behalf of the
Commission with respect to the various debt obligations.
FISCAL IMPACT:
None.
EXHIBITS:
1. Resolution No. 23 z designating persons to act on the behalf of the issuer for
certain debt obligations.
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RESOLUTION NO. 232
A RESOLUTION OF THE HOUSING AND REDEVELOPMENT
COMMISSION OF THE CITY OF CARLSBAD, CALIFORNIA
DESIGNATING PERSONS TO ACT ON THE BEHALF OF THE
ISSUER FOR CERTAIN DEBT OBLIGATIONS
WHEREAS, the following debt obligations are currently
outstanding:
1. Carlsbad Housing and Redevelopment Commission -
Village Redevelopment Project Area Tax Allocation Bonds,
Series A
2. Carlsbad Housing and Redevelopment Commission -
Multifamily Housing Revenue Bonds, Series 1985 B
(Seascape Village Project); and
WHEREAS, it is necessary from time to time for the issuer to
instruct the trustee for these debt obligations as to the investment of funds,
transfers of money and other transactions relating to the debt issues; and
WHEREAS, under the terms of the trust indentures, the
Commission has the authority to designate certain persons to act on behalf
of the Commission with respect to the various trust indentures.
NOW, THEREFORE, BE IT RESOLVED by the Housing and
Redevelopment Commission of the City of Carlsbad, California, as follows:
1. That the above recitations are true and correct.
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2. That the following persons are duly authorized to act on the
behalf of the Commission with respect to the trust indentures for the above
named debt issues which would include signing written instructions,
consents, certificates and/or other securities, etc.:
Secretary
Treasurer
City Assistant City Manager
City Financial Management Director
City Finance Director
City Assistant Finance Director
PASSED, APPROVED AND ADOPTED at a regular meeting of the
Housing and Redevelopment Commission of the City of Carlsbad on the
17 th day of AUGUST -) 1993, by the following vote, to wit:
AYES: Commissioners Lewis, Stanton, Nygaard, Finnila
NOES: None
ABSENT: Commissioner Kulc
ATI’EST:
RAYMOND R. PATCHE-IT, Secretary
FRANK MANNEN, Acting Secretary (S=u