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Each team member has been assigned specific areas of responsibility that are all <br /> critical to ensuring a successful structuring, pricing, and marketing of the 2011 Bonds. <br /> The specific duties of each team member follow: <br /> Financial Advisor. The Financial Advisor ensures that the issuing entity's interests are <br /> protected when the transaction is being structured and when interest rates are <br /> established on the bonds, and oversees the pricing of the sale and award of the 2011 <br /> Bonds on behalf of the member agencies and LAVWMA. <br /> Bond Counsel. Certifies that the issuer has the legal authority to issue the bonds; <br /> assures that the issue is in compliance with all constitutional, statutory, and procedural <br /> requirements; and certifies that the bonds qualify for exemption from state and/or local <br /> taxation. <br /> Disclosure Counsel. The Disclosure Counsel ensures that all relevant facts about the <br /> financial and political condition of the issuer are disclosed in the bond issue's public <br /> offering documents. The primary public offering document is the Official Statement. <br /> Trustee. The Trustee acts as the fiduciary agent for the benefit of the bondholders in <br /> enforcing the terms of the bond contract (Indenture of Trust). <br /> Financing Schedule <br /> The following table presents the financing schedule: <br /> Date Description of Activity <br /> September 6 • Council adopts Resolution authorizing City's participation in sale of <br /> 2011 Bonds and approving legal and disclosure documents <br /> September 13 • LAVWMA Board approves sale of 2011 Bonds <br /> September 21 • Sale of 2011 Bonds <br /> October 6 • 2011 Bond Closing; proceeds used to call 2001 Bonds <br /> Submitted by: Approved by: <br /> ‘-(01;.tr, <br /> Emily Wagner Nelson Fialho <br /> Director of Finance City Manager <br /> Attachment <br /> 1. Resolution <br /> Page 5 of 5 <br />