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2017 MARCH 21 CC/SARDA/CUA/CPFA/CHA MEETING 7 - <br /> <br />BUSINESS ITEMS <br /> <br />(15) Colton Utility Authority / Installment Sale Agreement with Texas Capital Bank – Approve Resolution <br />No. CUA-02-17 to 1) Confirm the Installment Sale Agreement with Texas Capital Bank; 2) Approve an <br />Escrow Agreement; 3) Approve a Depository Agreement; 4) Approve a Placement Agent Agreement <br />and 5) Approve other matters relating thereto, RESOLUTION NO. CUA-02-17. <br /> <br />Staff Presentation <br />Michael Williams, Managing Director of C.M. de Crinis & Co., Inc., and municipal advisor for the City of <br />Colton presented for Council consideration an overview of the agenda report with the assistance of a <br />PowerPoint presentation: <br /> <br />‘Colton Utility Authority Wastewater Refunding and New Financing’ <br /> Financing History <br /> Financing Overview <br /> Documents To Be Approved <br /> Financing Calendar; and <br />concluded requesting approval of staff’s recommendation. <br /> <br />PUBLIC COMMENT <br />None <br /> <br />Council Discussion <br />Discussion by Councilmembers present with questions and clarification provided by municipal advisor Michael <br />Williams. <br /> <br />Motion and Second by CM Navarro/Mayor DeLaRosa to approve the Installment Sale Agreement; Escrow <br />Agreement; Depository Agreement; Placement Agenda Agreement; and approve and adopt Resolution No. <br />CUA -02-17. <br />Vote: Motion carried with CM Jorrin absent. <br /> <br />MAYOR AND COUNCIL ORAL REPORTS AND COMMENTS <br />Comments from Mayor and Council on various issues and activities throughout the community. <br /> <br />CITY MANAGER’S REPORTS <br />None <br /> <br />ADJOURNMENT <br />At 8:05 p.m., Mayor DeLaRosa adjourned the Regular Council Meeting. <br /> <br /> <br /> _________________________________________________________________________ <br />Carolina R. Padilla <br />City Clerk <br />