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1983-10 RESOLUTION NO . CRA-83-10 RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF GRAND TERRACE , CALIFORNIA, APPOINTING BOND COUNSEL AND AUTHORIZING EXECUTION OF AGREEMENT FOR BOND COUNSEL SERVICES FOR SINGLE FAMILY RESIDENTIAL MORTGAGE BONDS, 1983 SERIES .A WHEREAS, the Community Redevelopment Agency of the City of Grand Terrace , California (the "Agency" ) desires to undertake certain proceedings for the issuance of revenue bonds for single family housing development to be constructed by Griffin Homes , a California corporation (the "Developer" ) , and further desires to employ Bond Counsel in connection therewith ; and WHEREAS , a Special Counsel Agreement has been received from the firm of Brown & Nazarek for said Bond Counsel services . NOW, THEREFORE , BE IT RESOLVED by the Board of Directors of t-he Community Redevelopment Agency of the City of Grand Terrace , California, as follows : SECTION 1 . The agreement for Special Counsel Services by and between the Agency and Brown & Nazarek in connection with said revenue bond financin-q proceedings , a copy of which is on file with the Secretary of the Agency, is hereby approved and the Chairman is authorized and directed to execute said agreement in the name of and on behalf of the Community Redevelopment Agency of the City of Grand Terrace . SECTION 2. This resolution shall take effect immediately. PASSED , APPROVED AND ADOPTED this 14th of December , 1983 . �--- Chairman" \ Community de-elopment Agency of the City of Grand Terrace State of California ATTEST: Ap roved as to form: % Sec-r,.e-t.#r-y . .CommurM ty Redevelopment Agency of .the City of Grand Terrace City Attorney State. of California STATE OF CALIFORNIA ) COUNTY OF SAN BERNARDINO ) ss. CITY OF GRAND TERRACE ) I, MYRNA ERWAY, Secretary of the Grand Terrace Community Redevelopment Agency, DO HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Grand Terrace Community Redevelopment Agency at a regular meeting held on the 14th day of December, 1983, and that it was so adopted by the following vote: AYES: Members Rigley, Petta, Nix, Pfennighausen; Chairman Grant. NOES: None. ABSENT: None. Secret�y►/ of the-Grand Terrace Communfty, Redevelopment Agency STATE OF CALIFORNIA ) COUNTY OF SAN BERNARDINO ) ss. CITY OF GRAND TERRACE ) I, MYRNA ERWAY, Secretary Grand Terrace Community Redevelopment Agency, DO HEREBY CERTIFY that the above and foregoing is a full , true, and correct copy of Resolution No. CRA-83-10 of said Agency, and that the same has not been amended or repealed. DATED: December 15, 1983. Secret a of the Grand Terra Commun y Redevelopment Agency Exhibit "A" to Resolution No. CRA-83-10 GTC-83-40-2-CRA SPECIAL COUNSEL AGREEMENT THIS AGREEMENT is made and entered into this 14th day of December 9 1983 , by and between BROWN & NAZAREK, Attorneys at Law, ( hereinafter referred to as "Bond Counsel " ) , and THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF GRAND TERRACE ( hereinafter referred to as "Agency" ) . WHEREAS, the Agency is considering the issuance and sale of sin- gle family residential mortgage revenue bonds pursuant to Chapter 8 (commencing with Section 33750) . Part 1 of Division 24 of the Health and Safety Code of the State of California (the "Act" ) , to finance the construction of a single family housing development within the City of Grand Terrace , and , in connection therewith , will require the services of attorneys qualified to act as bond counsel to the City. WHEREAS, Bond Counsel represents that it is able to provide the legal services which will be required by the Agency in connection with the Agency ' s proposed issuance of single family residential mortgage bonds . NOW, THEREFORE , IT IS HEREBY AGREED by and between the parties hereto as follows : l SECTION 1 . That Agency hereby employs Bond Counsel , and Bond Counsel hereby accepts such employment , to represent the Agency in connection with the authorization, issuance , and sale of bonds of the Agency to finance single family housing under the provisions of the Act . Such representation shall include , but shall not be limited to , general advice to and consultation with the Agency, it's attorney, staff, consultants , under- writers , underwriters ' counsel , and financial insti - tutions ; drafting of all resolutions , notices , and other documents required for the authorization , issu- ance , and sale of the bonds ; examination of the tran- script of the proceedings ; and issuance of an approv- ing legal opinion to the purchasers of the bonds . SECTION 2. Bond Counsel ' s fee for the aforesaid legal services , including normal expenses based on the amount of bonds issued , will be calculated on the following schedule : 1 /2% of the lst $5 ,000 ,000 1 /4% of the next $10,000 ,000 1 /8% of the balance Minimum fee of $25 ,000 . Said fee shall be payable from the proceeds of the bond sale on or within a reasonable time from the date of closing . SECTION 3 . Should the financing contemplated hereunder be aban- doned before the sale and delivery of bonds , Bond Counsel will be paid a fee based on the number of hours spent on the project at the hourly rate of nine- ty dollars ( $90 .00) subject to a maximum fee of five thousand dollars ( $5 ,000) . SECTION 4. It is understood and agreed that the aforesaid fees do not include representation of the Agency in connection with litigation which does not result from the perfor- mance of this agreement . However , Bond Counsel will represent the Agency, at ' the request of the Agency, in any such litigation at a fee to be mutually agreed upon . IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date and year first above written . "AGENCY" COMMUNTIY REDEVELOPMENT AGENCY OF THE CITY OF GRAND TERRACE B y: Chairman \ ATTEST : Secret ly "BOND COUNSEL" BROWN & NAZAREK Partner - 1 Approved as to form : City Attorney -2-