HomeMy WebLinkAboutRES NO 97-81RESOLUTION NO. 97-81
A RESOLUTION OF THE COUNCIL OF THE CITY OF
BAKERSFIELD APPOINTING BACHE HALSEY STUART
SHIELDS, INC. AS UNDERWRITER FOR ITS PROPOSED
LOANS-TO-LENDERS MULTI-FAMILY HOUSING REVENUE
BONDS.
WHEREAS, there exists in the City of Bakersfield (the
"City") a shortage of multi-family rental housing available to
the inhabitants of the City, particularly inhabitants of lower
and moderate income; and
WHEREAS, the City is authorized under its Charter
powers to adopt an ordinance providing for the issuance of loans-
to-lenders multi-family housing revenue bonds to finance the
construction of multi-family rental housing;and
WHERAS, the City is considering the adoption of an
ordinance and the issuance of such bonds and desires that the
investment banking firm of Bache Halsey Stuart Shields, Inc. be
appointed managing underwriter for such bond issue;
NOW, THEREFORE, the City of Bakersfield does hereby
resolve, determine and order as follows:
1. Bache Halsey Stuart Shields, Inc. is hereby appointed
as managing underwriter for any issuance by the City of loans-to-
lenders multi-family housing revenue bonds, subject to the terms
and conditions set forth in the Agreement attached hereto as
Exhibit "A".
2. Said Agreement is hereby approved in the form
attached hereto.
3. The Mayor and the City Clerk of the City are hereby
directed to execute said Agreement.
4. This resolution shall take effect immediately upon
its passage.
-o0o
I HEREBY CERTIFY that the foregoing Resolution was
passed and adopted by the Council of the City of Bakersfield at a
regular meeting thereof held on the 16th day of December, 1981, by
the following vote:
AYES: COUNCILMEN: BARTON, etRIS'I:rS~5'SN, MEANS, PAYNE, PATTY, ROCKOFF, S'T-R-,QN~
NOES: CO'UNCILMEN:
~ssm~: couNc,LMEN:
ABStAiNiNg: COUNC.~EN,
CIT z rk of
Council of the City of Bakersfield
the
APPROV D tb-is i-~th day of December, 1981
~th~,C~{,~ of Bakersf ield
~~~"~ C~f '
f Bakersfield
CI E the
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