Resolution 2513
29072-20
JHHW:5RC:ce 03/12/90
58940
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RESOLUTION NO. 2513
A RESOLUTION OF THE BOARD OF DIRECTORS
SOUTH TAHOE PUBLIC UTILITY DISTRICT
APPOINTING A FINANCIAL ADVISOR WITH RESPECT TO
FALLEN LEAF LAKE ASSESSMENT DISTRICT 1990-1
BE IT RESOLVED, by the Board of Directors (the "Board") of
the South Tahoe Public Utility District (the "District"), County
of El Dorado, State of California, as follows:
WHEREAS, this Council has determined to undertake
proceedings pursuant to appropriate assessment and assessment
bond acts for the acquisition and construction of public
improvements;
WHEREAS, this Board, upon the terms and conditions
~ hereinafter set forth, desires to appoint a financial advisor to
provide certain services in connection with the issuance,
offering and sale of the assessment bonds of the District (the
"Bonds");
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of
the South Tahoe Public Utility District that:
1. Kelling, Northcross & Nobriga be, and is hereby,
appointed as the financial advisor (the "Financial Advisor") with
respect to the issuance, offering and sale of the Bonds,
2. The Financial Advisor will provide, in general, all
services customarily performed by a Financial Advisor in
connection with a bond issue of the type proposed by the
District, These services will include, without limiting the
~ generality of the appointment, those generally provided by
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financial advisors in comparable financings and providing all
follow-up services as may be necessary or desirable.
3. In recognition that the Financial Advisor will commit,
on a fully contingent basis, considerable time and expense in the
performance of such services, the District, at the appropriate
time or times, will negotiate with the Financial Advisor and,
subject to the mutual agreement of the parties, enter into a
contract or contracts with the Financial Advisor for the purchase
of the bonds.
4. If the Board determines that the Financial Advisor is
not satisfactorily performing the services which it undertakes
pursuant to its appointment or if a mutually satisfactory bond
purchase contract cannot be concluded, the Board may discontinue
~ the services of the managing underwriter at no cost or expense to
the District,
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Resolution No. 2513
Page 2
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PASSED AND ADOPTED by the Board of Directors of the South
Tahoe Public utility District at a duly held regular meeting on
the
day of
, 1990, by the
15th
March
following vote:
AYES: Directors Mason, Walker, Sinclair, Onysko, Pierini
NOES: None
ABSTAIN: None
ABSENT: None
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ROBERT MASON, CHAIRMAN OF BOARD
SOUTH TAHOE PUBLIC UTILITY DISTRICT
ATTEST, & a q~
PAT A. MAMATH, CLERK OF BOARD
SOUTH TAHOE PUBLIC UTILITY DISTRICT
Resolution No, 2513
Page 3