RES 85047 - Laserfiche WebLink

Resolution No. 85-47 Page Three Section 9: It is further understood that the adoption of this Resolution shall not obligate in any manner the City to approve the conversion by the Developer of any portion of the Project at any time to condominium units. Section 10: The law firm of Orrick, Herrington, Sutcliffe, a professional corporation, is hereby designated as bond counsel to the City with respect to the Bonds, and the City Manager is hereby authorized to enter into an agreement with said firm for such bond counsel services. Section 11: The investment banking firm of FISER, is hereby designated as investment banker to the City with respect to the Bonds, and the City Manager is hereby authorized to enter into an agreement with said firm for such banking services. Section 12: Nothing herein contained shall be deemed to create any liability on the part of the City if, in its sole discretion, it determines at any time and for any reason not to finance the Project or to issue the Bonds. Section 13: It is the purpose and intent of the City that this Resolution constitute official action toward the issuance of obligations by the City for the Project in accordance with Section 1.103-8(a)(5)(iii) of the Regulations promulgated by the United States Department of the Treasury under Section 103 of the Internal Revenue Code of 1954, as amended. Section 14: This resolution shall become effective immediately upon its passage and adoption. THIS RESOLUTION ADOPTED JANUARY 22, 1985 BY THE FOLLOWING VOTE: AYES: Councilmembers - Brandes, Butler, Mohr, Wood and Mayor Mercer NOES: None ~~~~/YT_~ ABSENT: None ABSTAIN: None /~ ATTEST: ~NNETH R. MERCER, MAYOR By Doris George, Deputy City Clerk APPROVED~ : Peter D. ~cDonald, dty Attorney