RA1974/08/0674 -18 REDEVELOPMENT AGENCY
August 6, 1974, (5 :33 P.M.)
Council Chambers
Anaheim City Hall
PRESENT: Mrs. Kaywood, Mr. Seymour, Mr. Pebley, Mr. Sneegas
and Mr. Thom
ABSENT: None
PRESENT: EXECUTIVE DIRECTOR:
CITY ATTORNEY: Alan
SECRETARY: Alona M.
CITY ENGINEER: James
FINANCE DIRECTOR: M.
PLANNING SUPERVISOR:
Keith A. Murdoch
R. Watts
Hougard
P. Maddox
R. Ringer
Don McDaniel
The meeting was called to order by Mr. Thom.
MINUTES: On motion by Mr. Pebley, seconded by Mr. Sneegas, minutes
of the meeting held July 16, 1974, were approved. MOTION CARRIED.
BOND COUNSEL, SPECIAL MUNICIPAL ELECTION: The City Attorney advised
that due to time constraints involved in the consolidation of a
Special Municipal Election with the November General Election, a
Bond Counsel should be employed in the immediate future; and he
reported on discussions held with the various firms, including
O'Melveny & Myers in Los Angeles. Mr. Watts further reported on
a proposed agreement for the employment of O'Melveny & Myers,
and briefly described the services which would be provided by
that organization, such as the drafting of all documents includ-
ing a lease or leases between the Redevelopment Agency and the
City of Anaheim pertaining to the new City Hall, plus other
documents in connection with the election, and the formation of
the proposition to be voted upon. He explained that the fee
for these services, based on a successful fifteen million
dollar bond issue, would be $17,750.00, plus out of pocket
expenses, which he considered a just amount, and the firm would
also draft the resolutions issuing the bonds, and would render
their opinion as to taxation on the income from said bonds.
The City
dollar amount is a
degree of validity
Manager pointed out
preliminary working
at this point.
that the fifteen million
figure, and had no high
Regarding the wording of the proposition, Mr. Watts
advised that the bonding attorneys have recommended the
question to be structured as an initiative measure, asking
whether the City Council should adopt an ordinance approving
the terms and conditions of a lease between the City of Ana-
heim and the Redevelopment Agency to finance a new City Hall,
and for the City to pay annual lease payments.
RESOLUTION NO. RA -12: On the recommendations of the City
Manager and City Attorney, Mr. Seymour offered Resolution No.
RA -12 for adoption.
A RESOLUTION OF THE ANAHEIM REDEVELOPMENT AGENCY APPROVING THE
TERMS AND CONDITIONS OF AN AGREEMENT EMPLOYING THE LAW FIRM OF
O'MELVENY & MYERS TO PERFORM THE SERVICES OF BOND COUNSEL IN
CONNECTION OF THE FINANCING OF THE CITY FALL, PARKING FACILI-
TIES AND RELATED FACILITIES, AND AUTHORIZING THE CHAIRMAN AND
THE SECRETARY OF THE AGENCY TO EXECUTE SAID AGREEMENT ON
BEHALF OF THE AGENCY.
74 -19
Roll Call Vote:
AYES: Mrs. Kaywood,
Mr. Thom
NOES: None
ABSENT: None
Mr. Seymour, Mr. Pebley, Mr. Sneegas and
Mr. Thom declared Resolution No. RA -12 duly passed and adopted.
FISCAL CONSULTANT SELECTION: Finance Director M. R. Ringer reported
.— on the proposed selection of a Fiscal Consultant for the City
Hall project bond issue, advising of proposals received from
four firms, as follows:
Firm Fee
Dean Witter & Co., Inc. $ 32,500
Wainwright & Ramsey, Inc. 34,500
Blyth Eastman Dillon & Co., Inc. 37,500
Bank of America 38,750
Mr. Ringer advised that all four of the firms listed
are highly recommended and are well qualified in the area of
lease bond issues and tax increment financing; however, his
personal preference was Dean Witter & Co., Inc. He further
noted that both the Dean Witter and Blyth Eastman Dillon
firms also requested to submit a proposal to purchase the
bonds, should they be selected as the City's Fiscal Consul-
tants.
Messet8 Seymour and Thom indicated they desired an
opportunity to review the proposals prior to taking any action.
Mr. Ringer noted that after selection of the fiscal
consultants, a meeting would be arranged between the bond
attorneys, the architects, members of the City Staff and the
fiscal consultants to firm up a budget and establish the size
of the bond issue; and since the meeting would not be held
within the next week, action on the selection of the consul-
tants could be deferred for that length of time.
ADJOURNMENT: Mr. Pebley moved to adjourn to Tuesday, August 13, 1974,
at a time immediately following the adjournment of the regular
City Council meeting on said date. Mr. Thom seconded the motion.
MOTION CARRIED.
ADJOURNED: 5:45 P.M.
SIGNED: (��n
Secretary, Redevel,pment Agency