RESOLUTION NO. _________

 

 

A RESOLUTION OF THE CITY OF LEESBURG, FLORIDA DESIGNATING THE FINANCE TEAM TO WORK WITH THE CITY IN CONNECTION WITH THE ISSUANCE OF DEBT TO ACQUIRE CERTAIN PROPERTIES AND IMPROVE SAID PROPERTIES TO PROVIDE AFFORDABLE HOUSING, AUTHORIZING THE CITY MANAGER TO EXECUTE THE ENGAGEMENT LETTERS; AUTHORIZING THE CITY MANAGER TO RETAIN OTHER PROFESSIONAL FIRMS AS NEEDED; AND PROVIDING AN EFFECTIVE DATE.

 

 

WHEREAS, the City of Leesburg, Florida (the “City”) has identified certain properties located within the City that it desires to acquire and improve to provide affordable housing (the “Projects”) that it wishes to finance with the proceeds of its revenue bonds, notes or other obligations to be issued in the future in one or more series (the “Tax Exempt Financing”); and

 

WHEREAS, the City has been working with D.A. Davidson & Co., and Akerman Senterfitt (collectively, the “Finance Team”) in connection with the proposed issuance of the Tax Exempt Financing; and

 

WHEREAS, the City Commission now desires, pursuant hereto, to formally designate the Finance Team.

 

NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA, THAT:

 

AUTHORITY. This Resolution is adopted pursuant to Chapter 166, Florida Statutes and other applicable provisions of law (collectively, the “Act”).

DESIGNATION OF FINANCE TEAM AND APPROVAL OF TERMS OF ENGAGEMENT. The Finance Team with respect to the issuance of the Tax Exempt Financing shall consist of D.A. Davidson & Co. as Financial Advisor and Akerman Senterfitt as Bond Counsel.  The City Manager is hereby authorized to execute and deliver to the various members of the Finance Team supplemental or amended engagement letters in customary form, as needed. The City Manager is also authorized to work with the Finance Team to retain other professional firms including but not limited to the purchaser of the Tax Exempt Financing, as needed, to assist in the process of the Tax Exempt Financing.


EFFECTIVE DATE. This Resolution shall take effect immediately upon its adoption.

 

PASSED AND ADOPTED at the regular meeting of the City Commission of the City of Leesburg, Florida on the 25th day of September 2006.

 

 

 

THE CITY OF LEESBURG, FLORIDA

(SEAL)                                                                   

 

                                                                                By:                                                          

Mayor-Commissioner

ATTEST:

 

                                                                       

City Clerk