HomeMy WebLinkAboutCC Resolution 9014 (Peacock Gap Reassessment District)RESOLUTION NO. 9014
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SAN RAFAEL APPROVING CONTRACT
WITH KELLING, NORTHCROSS & NORBRIGA, INC.
(PEACOCK GAP REASSESSMENT DISTRICT)
The City Council of the City of San Rafael resolves:
This Council approves that certain contract between the
CITY OF SAN RAFAEL and KELLING, NORTHCROSS & NORBRIGA, INC., for
services of that firm as Financial Advisor in connection with the
issuance of refunding bonds in Peacock Gap Reassessment District,
dated August 26, 1993, and attached to this resolution.
The Mayor is authorized to sign the agreement and the
City Clerk is authorized to attest its execution.
I, JEANNE M. LEONCINI, Clerk of the City of San Rafael,
California, hereby certify that the foregoing resolution was duly
and regularly introduced and adopted at a regular meeting of the
Council of said City held on the 7th day of September, 1993, by
the following vote, to wit:
AYES: COUNCILMEMBERS:Breiner, Cohen, Shippey, Thayer & Mayor Boro
NOES: COLNCILMEM3ERS:None
ABSENT: COUNCILMEM3ERS:None
JEADI M. LEONCINI, City Clerk
SF2-20566.1
K E L L I N G, N ORTHCROSS & N O B R I G A, I N C.
:=ii cm.t,ti AJtisor t(
August 26, 1993
Mr. Randy Coleman
Finance Director -
City of San Rafael
1400 Fifth Avenue
San Rafael, CA 94915-0060
Re: Peacock Gap Assessment District Refunding
Dear Randy,
Based upon our discussions with you regarding the services which we can offer to the City of San
Rafael (the "City") in conjunction with the above referenced financing, Kelling, Northcross &
Nobriga, Inc. ("KNN") proposes to perform the following services:
I. Underwriting of Refunding Bonds
1. Review and comment on official statement with respect to call provisions and bond
structure.
2. Review proposed pricing scale, underwriters discount and sales strategy proposed by the
underwriter, prior to and during pre -pricing.
3. Provide comment to City staff regarding reasonableness of each element of underwriter's
proposal. Evaluation performed by KNN shall include providing comparison of
underwriter's proposed scale and discount to list of recent comparable financings as
compiled by KNN.
4. Monitor the underwriter's efforts to assure the City that the final offering scale and
discount represents an aggressive marketing effort by the underwriter.
1333 Broadway
Telephone
Suite 1000
(510) 839-8200
Oakland, CA
Facsimile
COPY
94612
(510)208-8282
Mr. Randy Coleman, Finance Director
September 7, 1993
Page Two
H. Compensation and Expenses
For services to be provided by KNN as outlined above, the City will pay KNN a fee of $7,500.
KNN agrees to pay its own out-of-pocket expenses for travel within California, computer and
telephone, incurred by us in performing our duties and obligations. Other costs, including, but
not limited to, any costs of issuance, travel expenses of City officials, out-of-state travel expenses
of KNN, if any, courier or delivery charges, and any cost of obtaining statistical information shall
be paid by the City.
III. Duration
This agreement with the City may be terminated by 30 day prior written notice of the City to
KNN or by KNN to the City.
If the City agrees to this engagement, please return one executed copy of this letter agreement.
We look forward to working with you.
KELLING, NORTHCROSS & NOBRIGA, INC.
By zt4'�
/ R4�mond G. Nobpl'ga, President
Accepted:
CITY OF SAN RAFAEL
Albe�rtoro, 11M1a-;0)r
ATTEST:
�\i ,
Jean M. Leoncin�, ity Clerk