Title
A RESOLUTION APPROVING THE FRAZER LANIER COMPANY, INCORPORATED, AS INVESTMENT BANKER, AND MAYNARD, COOPER & GALE, P.C., AS BOND COUNSEL, IN CONNECTION WITH THE ISSUANCE OF GENERAL OBLIGATION WARRANTS, SERIES 2021-A BY THE CITY OF FOLEY, ALABAMA
Summary
Description of Topic: (who, what, where, when, why and how much)
Budgetary Impact:
Non-Capital Item:
____ Budgeted under account #_______________ (discussion item)
____ Not budgeted, requesting transfer of $__________ from Account #______________ to Account #_____________.**Request to Transfer Departmental Budget Dollars form must be attached**
____ Not budgeted requiring increase to account #___________ in the amount of $____________.**Request to Increase Departmental Budget Dollars form must be attached**
Capital - Departmental **Capital Purchase Worksheet form must be attached**
____ Budgeted under account #______________ for $_________ and described in budget as ________________________. Additional amount needed, if any: Increase in budget of $_________ OR, transfer of $________ from Account #____________ to Account #_____________**Request to Increase OR Request toTransfer Departmental Budget Dollars form must be attached**
____ Not Budgeted - account #____________ requires budget increase of $_____________.**Request to Increase Departmental Budget Dollars form must be attached**
Capital Project - **If requesting to start a project, a Capital Project Worksheet form must be attached**
In current year Capital Projects Plan:
_____ Yes, described as __________________________, planned amount $___________, requesting $_________ as total project estimate, including contingencies, under account #_________________
_____ No, requesting $___________ as total project estimate, including contingencies, under account #____________________.
_____ No, requesting an increase of $___________ to an already approved project titled ________________________ that is being tracked under Account No. ___________________.
Body
Whereas, the City of Foley, Alabama (the “City”) is considering the issuance of General Obligation Warrants, Series 2021-A (the “Series 2021-A Warrants”) in order to refund all or a portion of its General Obligation Warrants, Series 2014, and
Whereas, the City hereby engages The Frazer Lanier Company, Incorporated (“Frazer Lanier”), as investment banker, and Maynard, Cooper & Gale, P.C. (“Maynard”), as bond counsel, to assist the City with the issuance of the Series 2021-A Warrants;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF FOLEY, ALABAMA, as follows:
1. Frazer Lanier and Maynard are hereby directed to proceed with the preparation of all documents and information necessary to prepare the City to enter the market for the issuance of the Series 2021-A Warrants.
2. Should the City, in its sole discretion, elect not to proceed with the issuance of the Series 2021-A Warrants, no fees nor expenses shall be charged by Frazer Lanier to the City.