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done in the past. Urban Futures, Inc. is being recommended as the Financial Advisor and De La <br />Rosa & Co. as underwriters. Both of these firms have extensive experience in the bond financing <br />business and recently were part of the team assisting the City of Redlands in a similar financing. <br />FINANCIAL IMPACT: <br />All costs incurred as a result of the issuance of taxable pension obligation bonds and the validation <br />process will be included in the Cost of Issuance for the bonds. <br />ENVIRONMENTAL IMPACT: <br />None <br />CONFLICT OF INTEREST <br />De La Rosa & Co. <br />Ralph J. Holmes - Principal <br />Best Best & Krieger <br />Francis Baum — Partner <br />Urban Futures Inc. <br />Marshal Lin — President <br />Doug Anderson - Principal <br />RECOMMENDATION: <br />• Staff recommends approval of the attached Resolution which provides for the issuance of <br />taxable Pension Obligation Bonds, approves the forms of, and execution and delivery of an <br />indenture relating to the bonds, and authorizes the legally mandated validation process. <br />• Staff recommends the approval of the financing team as described in the staff report. <br />Attachment: Indenture for the City of Colton Taxable Pension Funding Bonds, Series 2007 <br />REVIEW TEAM ONLY <br />City Attorney: -- A _ Finance Director: <br />City Manager: OTHER: <br />