Title
A Resolution Approving The Frazer Lanier Company, Incorporated, as Investment Banker, General Obligation Warrants on Behalf of City of Foley, Alabama
Summary
The City of Foley is considering the issuance of General Obligation Warrants in order to construct various projects and to possibly refund certain debt of the City. Approval of this resolution engages The Frazer Lanier Company, Incorporated, as Investment Banker, to assist the City with the issuance of the Warrants and authorizes the Mayor or City Administrator to execute the necessary documents related to the issuance of the Warrants.
Body
WHEREAS, the City of Foley, Alabama (the “City”) is considering the issuance of General Obligation Warrants in order to construct various projects and to possibly refund certain debt of the City.
WHEREAS, the City hereby engages The Frazer Lanier Company, Incorporated (“Frazer Lanier”), as Investment Banker, to assist the City with the issuance of such debt (“the Warrants”);
NOW, THEREFORE, BE IT RESOLVED BY CITY OF FOLEY, ALABAMA, as follows:
Section 1: Frazer Lanier is hereby directed to proceed with preparation of all documents and information necessary to prepare the City to enter the market for the issuance of the debt.
Section 2: The Mayor or City Administrator is hereby authorized to execute, on behalf of the City, a Warrant Purchase Agreement between the City and Frazer Lanier and any other document deemed necessary to facilitate the sale of the Warrants; provided, the final form of the Warrant Purchase Agreement shall be subject to ratification and approval by the City following its execution at such time as the City adopts a resolution that contains the final pricing terms of the Warrants and authorizes the issuance and delivery of the Warrants and all other documents and agreements of the City relating thereto.
Section 3: Should the City, in its sole discretion, elect not to proceed with the issuance of the Warrants, no fees nor expenses sha...
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