File #: 19-2090    Version: 1 Name:
Type: Discussion Status: Agenda Ready
File created: 11/7/2019 In control: City Council / Housing Authority / Successor Agency to the Redevelopment Agency
On agenda: 11/18/2019 Final action: 11/18/2019
Title: Authorize the City Manager to Commence Validation Proceedings Related to the Issuance of Pension Obligation Bonds and Confirm the Selection of Financing Team It is recommended that the City Council take the following actions: 1) Authorize the City Manager to commence Judicial Validation Proceedings related to the Sale of Pension Obligation Bonds; and 2) Confirm a selected financing team composed of Urban Futures, Inc., to serve as financial advisor to the City; Stradling, Yocca, Carlson & Rauth, to serve as Bond Disclosure Counsel to the City and to manage the validation proceedings; and RBC Capital Markets to serve as the lead underwriter for the Bonds. 3) Authorize the City Manager to execute sole source contracts to complete the intent of the Finance Team.
Attachments: 1. Pomona Validation Proceedings Staff Report November 2019 v5.pdf

title

Authorize the City Manager to Commence Validation Proceedings Related to the Issuance of Pension Obligation Bonds and Confirm the Selection of Financing Team

 

It is recommended that the City Council take the following actions:

 

1)                     Authorize the City Manager to commence Judicial Validation Proceedings related to the Sale of Pension Obligation Bonds; and

 

2)                     Confirm a selected financing team composed of Urban Futures, Inc., to serve as financial advisor to the City; Stradling, Yocca, Carlson & Rauth, to serve as Bond Disclosure Counsel to the City and to manage the validation proceedings; and RBC Capital Markets to serve as the lead underwriter for the Bonds.

 

3)                     Authorize the City Manager to execute sole source contracts to complete the intent of the Finance Team.