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Title:
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APPROVAL OF RESOLUTIONS AUTHORIZING LETTERS OF CREDIT RENEWAL OF 2008A ELECTRIC REVENUE BONDS OF $70,540,000 AND 2008C ELECTRIC REVENUE BONDS OF $41,975,000, REMARKETING OF 2011A ELECTRIC REVENUE BONDS FOR $41,925,000, AND APPROVAL OF FINANCING COSTS USING PUBLIC FINANCIAL MANAGEMENT, AS THE FINANCIAL ADVISOR FOR $22,500, STRADLING YOCCA CARLSON & RAUTH AS BOND AND DISCLOSURE COUNSEL FOR $40,000 FOR THE CITY, MCDERMOTT WILL & EMERY, LLP REPRESENTING BARCLAYS FOR THE LETTER OF CREDIT FACILITIES AND CHAPMAN AND CUTLER, LLP REPRESENTING WELLS FOR THE DIRECT PLACEMENT TRANSACTION FOR A TOTAL OF $37,000 FOR BOTH FIRMS
That the Board of Public Utilities recommend that the City Council:
1. Adopt resolution authorizing the replacement of the 2008C letter of credit and the extension of the 2008A letter of credit under substantially similar terms for a period of four years, authorizing the execution of a remarketing agreement with Barclays for the 2008A Electric Revenue Bonds; and...
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