HomeMy WebLinkAboutCity of Tamarac Resolution R-84-0332
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Introduced by Temp.Reso. #3023
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-84- 3 3
A RESOLUTION AUTHORIZING THE APPROPRIATE CITY OFFICIALS
TO ENTER INTO AN AGREEMENT WITH FINE, JACOBSON, BLOCK,
KLEIN, COLPM & SIMON, P.A. FOR BOND COUPSELING SERVICES
IN CONNECTION 14ITH THE MARCH, 1984, BOND ISSUE; AND
PROVIDING AN EFFECTIVE DATE.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF TAMARAC, FLORIDA:
SECTION 1: That the appropriate City officials are hereby directed
and authorized to enter into an agreement with Fine, Jacobson, Block, Klein, Colan
& Simon, P.A., for Bond Counseling services in connection with the March, 1984,
Bond Issue. A copy of said agreement being attached hereto as Exhibit "A".
SECTION 2: This Resolution shall become effective upon adoption.
PASSED, ADOPTED AND APPROVED this V"Zt day of , 1984.
ATTEST:
K?� J�1-
AS ISTANT CITY CLERK
I HEREBY CERTIFY that I have
approved the xii
andcorrectness
of this Reson.
L
�.
MAY
RECORD OF COUNCIL VOTE
MAYOR FALCK: ___ -40ca-
DIST. 1: C/N1 KRAVITZ:
DIST. 2: Vffil MASSARO:
DIST. 3: C/M STELZER:
DdS'3 r
IRWIN J. BLOCK
MITCHELL R. BLOOMBERG
GARY S. BROOKS
J UDITH A. BURKE
B RUCE JAY COLAN
'
GENE ESSNER
MARTIN FINE
MA RK O. GROSSMAN
G ERALD T. HEFFERNAN
BURT S. HELLMAN
SARA B. HERALD
BERNARO JACOBSON
THEODORE KLEIN
HENRY LATIMER
MANUEL LUBEL
REBEKAH J. POSTON
STANLEY B. PRICE
JOSEPH H. SEROTA
STUART L. SIMON
KATHLEEN M. WEBER
LINDA ANN WELLS
LAW OFFICES
FINE JTACOBsoN BLOCS KLEIN COL&N & SImoN, P. A.
P. 0. BOX 140800
2401 DOUGLAS ROAD
MLA MI, FL0EMA 33134
FORT LAUDERDALE OFFICE
SUITE 400
MIAMI (305) 446-2200
2300 EAST LAS OLAS BOULEVARD
BROWARD (305) 462-2226
FORT LAUDERDALE, FLORIDA 33301
CABLE ADDRESS "KAMILAW"
TELEX 52-2726
(305) 463-1744
City Council
c/o John Henning, Esq.
City Attorney
City of Tamarac
5811 N.W. 88th Avenue
Tamarac, FL 33321
Dear John:
February 6, 1984
PLEA6E REPLY TO:
} MIAMI OFFICE
k
1
Re: Fee Arrangement in Regard to the Position of
Bond Counsel for the City of Tamarac's Proposed
General obligation Bonds not to Exceed $8 million
and Water & Sewer Revenue Bonds not to Exceed
$15 million
This will set forth our understanding regarding the engage-
ment of this firm to act as bond counsel to the City of Tamarac
in regard to the captioned financings.
Our legal representation will include the preparation of
all documents required to successfully close the transactions
and all pleadings for the validation proceedings through the
Circuit Court level. We will participate in all negotiations
with underwriters, your staff and financial advisor in regard
to the sale of the bonds. We will also assist in the preparation
of the authorizing resolutions and ballot language which will
appear on the ballot in the upcoming election.
It is understood that we will only be compensated for our
attorney's fees if the financings are successful and that we
will be compensated in the following manner:
1. Proposed General Obligation Bonds - ($8,000,000) -
We will receive a fee of $10,000 if there is a negotiated sale
of the bonds and we are not required to prepare the preliminary
or official statement. If we are required at any time to perform
due diligence functions which are usually performed by underwriter's
City Council
c/o John Henning, Esq.
February 6, 1984
Page Two
counsel in regard to the preliminary and final official state-
ments, there will be an additional fee not to exceed $5,000.00.
A negotiated sale of the bonds, however, usually does not
require additional due diligence functions by bond counsel. We
will receive an additional fee of $5,000.00 in the event that
there is a competitive sale of the bonds and we are required to
draft the preliminary and final official statements.
2. Proposed Water & Sewer Revenue Bonds - ($15,000,000) -
We will receive a fee of 15,000.00 if there is a negotiated
sale of the bonds and we are not required to prepare the official
or preliminary statements. If we are required at any time to
perform due diligence functions which are usually performed
by underwriter's counsel in regard to the preliminary and final
official statements, there will be an additional fee not to
exceed $5,000.00. A negotiated sale of the bonds, however,
usually does not require additional due diligence by bond counsel.
We will receive an additional $5,000.00, however, in the event
there is a competitive sale of the bonds and we are required to
draft the preliminary and final official statements.
The above fees shall be exclusive of all out-of-pocket
expenses which we will bill to you separately and which will be
due even if the financings are not completed.
We welcome the opportunity to represent the City of Tamarac.
Ver truly yours,
H ry Latimer
HL/aht �Q
AGREED and ACCEPTED this -I'—day of V2�_( , 1984.
CITY OF TAMARAC\
By: _ ��
By:
a ra Z. S
r
ns, City Manager
ATTEST:
Carol A. Evans, Assistant
City Clerk
Fixs JAcoBsox BLocg KLEIx COLAx & Suxox, P. A.
2401 DOUGLAS ROAD • MIAMI, FLORIDA 33134 • TELEPHONE (305) 446-2200