HomeMy WebLinkAboutAGENDA REPORT 1985 1216 CC REG ITEM 08FALBERT PRIETO
Mayor
JAMES D. WEAK
Mayor Pro Tern
THOMAS C. FERGUSON
Councilmember
DANNY A. WOOLARD
Councilmember
LETA YANCY - SUTTON
Councilmember
DORIS D. BANKUS
City Clerk
JOHN C. GEDNEY
City Treasurer
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MOORPARK
M E M O R A N D U M
TO. The Honorable City Council
FROM: Steven Kueny, City Manag�
DATE: December 12, 1985
SUBJECT • Issuance of Multi- Family Housing Revnue Bonds
( Palmer - Le Club Apartments)
BACKGROUND:
STEVEN KUENY
City Manager
CHERYL J. KANL
City Attorney
NIALL FRITZ
Director of
Community
Development
R. DENNIS DELZEI T
City Engineer
JOHN V. GILLESPIE
Chief of Police
The final draft of the documents are still being reviewed by Bond Counsel
and the City Attorney. These documents include:
1. Indenture
2. Purchase Contract
3. Regulatory Agreement
4. Loan Agreement
5. Preliminary Official Statement
It is anticipated that the remaining concerns will be completed by Friday,
December 13.
As with the other two bond issues previously considered by the City, the Council
will be asked to approve an 'Issuance Resolution' approving the above five
documents list above, substantially in their present form, and as subsequently
modified and approved by the City Attorney and City Manager.
The underwriters have indicated that the 'Issuance Resolution' must be approved
on December 16 or within the next few days after that to permit closing before
the end of the year.
799 Moorpark Avenue Moorpark, California 93021 (805) 529 -6864