Resolution 09955CITY OF ALAMEDA RESOLUTION NO. 9955
APPROVING AND AUTHORIZING EXECUTION OF AGREEMENT
FOR BOND UNDERWRITER SERVICES WITH DREXEL BURNHAM
LAMBERT INCORPORATED RELATING TO ISSUANCE OF
MORTGAGE REVENUE BONDS
WHEREAS, a proposed contract with DREXEL BURNHAM
LAMBERT INCORPORATED for its investment banking and
underwriting services, relating to the sale of Residential
Mortgage Revenue Bonds for the purposes of providing low
interest mortgage loans to finance residential housing
within the City, has been submitted to this Council and
the Council is fully informed and aware of the terms and
conditions thereof; and
WHEREAS, it is in the best interests of the City
of Alameda that said contract be entered into;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF
THE CITY OF ALAMEDA that the City Manager is hereby authorized
and directed to execute, for and on behalf of the City of
Alameda, that certain contract referred to above by and
between DREXEL BURNIIAM LAMBERT INCORPORATED and the CITY
OF ALAMEDA, for its investment banking and underwriting
services relating to the sale of the City's Residential
Mortgage Revenue Bonds. The City Clerk is hereby directed
to attest to same.
BE IT FURTHER RESOLVED that the bond discount shall
represent the Investment Banker's total compensation and
the City shall not be liable to the Investment Banker for
any additional fees whatsoever.
I, the undersigned, hereby certify that the foregoing Resolution
was duly and regularly adopted and passed by the Council of the
City of Alameda in regular meeting assembled on the 21st of December, 1982,
by the following vote to wit:
AYES: Councilmen Diament, Gorman, Sherratt, Stone and President Corica - 5.
NOES: None.
ABSENT: None.,
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official
seal of said City this 22nd day of December, 1982.