HomeMy WebLinkAboutRES 02-122 RESOLUTION NO. 02-122
RESOLUTION APPROVING ENGAGEMENT OF BOND COUNSEL AND A
PLACEMENT AGENT
WHEREAS, The City of Beaumont, Texas (the "City") proposes to sell
approximately $30,000,000 of its City of Beaumont, Texas, Waterworks and Sewer
System Revenue Bonds, Series 2002 (the "Bonds"), the proceeds of which will be used to
finance improvements, repairs, upgrades and expansion to the City's waterworks and
sewer system (the"Project");
WHEREAS, in order to proceed with the Project and the issuance of the Bonds,
the City desires to authorize the employment of bond counsel and a placement agent;
NOW, THEREFORE, BE IT RESOLVED BE THE CITY COUNCIL OF THE
CITY OF BEAUMONT, TEXAS:
1. The City is authorized to and hereby employs Orgain, Bell & Tucker,
L.L.P., Beaumont, Texas, as bond counsel for the issuance of the Bonds, pursuant to the
terms of the engagement letter dated May 24, 2002, presented by Orgain, Bell & Tucker,
L.L.P. to the City.
2. The City is authorized to and hereby employs RBC Dain Rauscher,
Houston, Texas, as placement agent for the City in connection with the issuance of the
Bonds.
3. The City and its bond counsel and placement agent are authorized to
proceed with taking all action appropriate for the issuance of the Bonds; provided,
however, that the Bonds shall be issued only if the final terms and provisions thereof are
hereinafter approved by the City Council.
PASSED AND APPROVED this A day of ,� , 2002.
Mayor
ATTEST:
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City Clerk
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