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Resolutions and Ordinance Authorizing Financing <br />the City's Share of 800MHz Share System <br />June 3, 1996 <br />Page 2. <br />In conjunction, a financing team consisting of: Public Financial <br />Management, Inc. as a financial advisor; Jones, Hall, Hill and <br />White, A Professional Law Corporation as Bond Counsel; Stone and <br />Youngberg, LLP, as Underwriter; and Cox, Castle and Nicholson, <br />LLP as Underwriter's Counsel, has been reviewing various <br />financing alternatives. <br />The recommended financing option will be provided through an <br />asset transfer structure. Currently, 12 cities have committed to <br />participate in the recommended financing plan, if approved by <br />their respective City Councils. The recommended resolutions and <br />ordinance provides for the establishment of a Countywide Public <br />Financing Authority, approves the issuance of bonds and related <br />documents, and complete with all California Government Code <br />requirements. <br />Approval of the recommended actions will permit the City to <br />finance its share, approximately 5.5 million, of the $82 million <br />system. The first payment will be due in July 1997 and be <br />incorporated within the FY 97-98 City budget. <br />R VCol ma <br />Executive Director <br />Finance & Management Services Agency <br />