Title
Currently Effective Amended and Restated Utilities System Revenue Bond Resolution (B)
Explanation
The City in consultation with Holland & Knight LLP, as Bond Counsel to the City and PFM Financial Advisors LLC, financial advisor to the City has undertaken a comprehensive review of the City's Amended and Restated Utilities System Revenue Bond Resolution (the "Utility System Bond Resolution") and identified amendments to certain provisions of the Utility System Bond Resolution.
The amendments set forth in the resolution captioned "Currently Effective Amendatory Resolution" will be effective immediately upon the consent of U.S. Bank National Association as Trustee under the Utility System Bond Resolution, delivery of a certificate by the financial advisor and the delivery of opinions by Bond Counsel and the City Attorney. These amendments are intended cure ambiguities, supply any omissions, cure or correct certain defects and inconsistent provisions and have been determined, based on advice of the financial advisor, to not have a material adverse effect on the interests of Bondholders.
Fiscal Note
None.
Recommendation:
Approve the adoption of the resolution.