HomeMy WebLinkAboutReso RDA 12-2004RESOLUTION NO. 12-2004
REDEVELOPMENT AGENCY, CITY OF SOUTH SAN FRANCISCO,
STATE OF CALIFORNIA
A RESOLUTION APPROVING A CONTRACT WITH PUBLIC
FINANCIAL MANAGEMENT (PFM) FOR FINANCIAL ADVISORY
SERVICES
WHEREAS, staff recommends approval of a contract with Public Financial Management for financial
advisory services associated with the upcoming potential Redevelopment Bond Sale; and
WHEREAS, no compensation would be owed to PFM unless the Redevelopment Agency later decides
to authorize the sale of bonds; and
WHEREAS, the contract is for $45,000 plus expenses not to exceed $2,000; and
WHEREAS, if the Redevelopment Agency sells bonds, it will pay PFM $45,000 plus expenses not to
exceed $2,000 out of the bond proceeds for all services rendered; and
WHEREAS, if no bond sale occurs, the contract specifies that the Redevelopment Agency will not
owe PFM any compensation.
NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency of the City of South San
Francisco that the Redevelopment Agency approves a contract with Public Financial Management (PFM) for
financial advisory services.
BE IT FURTHER RESOLVED that the Executive Director is hereby authorized to execute the
contract on behalf of the Redevelopment Agency of the City of South San Francisco.
I hereby certify that the foregoing Resolution was regularly introduced and adopted bI the
Redevelopment Agency of the City of South San Francisco at a regular meeting held on the 8 day of
December 2004 by the following vote:
AYES:
Boardmembers Richard A. Garbarino, Pedro Gonzalez, and Karyl Matsumoto,
Vice Chair Joseph A. Femekes and Chair Raymond L. Green
NOES: None.
ABSTAIN: None.
AB SENT: None
ATTEST: