File #: 12-0441    Version: 1 Name: Replacement Of Cash Reserve With An Insurance Policy
Type: City Resolution Status: Passed
File created: 4/17/2013 In control: Meeting of the Oakland City Council
On agenda: 5/7/2013 Final action: 5/7/2013
Title: Subject: Replacement Of Cash Reserve With An Insurance Policy From: Office Of The City Administrator Recommendation: Adopt The Following Pieces Of Legislation: 1) An Oakland City Council Resolution Authorizing The Use Of An Insurance Policy To Be Provided By Assured Guaranty Municipal Corp. ("Assured") To Replace The Cash In The Reserve Fund Securing The Oakland Joint Powers Financing Authority's Lease Revenue Refunding Bonds (Oakland Administration Buildings) 2008 Series B (The "Bonds"), Authorizing The Amendment Of The Rating Requirement In Such Trust Agreement Applicable To The Provider Of Such An Insurance Policy With Respect To Assured, And Authorizing The Reimbursement Of Assured From Base Rental Payments Made By The City Of Oakland Pursuant To The Sublease Relating To The Bonds; And
Attachments: 1. View Report.pdf, 2. 84347 CMS.pdf
Title
Subject:      Replacement Of Cash Reserve With An Insurance Policy
From:            Office Of The City Administrator
Recommendation:  Adopt The Following Pieces Of Legislation:
 
1) An Oakland City Council Resolution Authorizing The Use Of An Insurance Policy To Be Provided By Assured Guaranty Municipal Corp. ("Assured") To Replace The Cash In The Reserve Fund Securing The Oakland Joint Powers Financing Authority's Lease Revenue Refunding Bonds (Oakland Administration Buildings) 2008 Series B (The "Bonds"), Authorizing The Amendment Of The Rating Requirement In Such Trust Agreement Applicable To The Provider Of Such An Insurance Policy With Respect To Assured, And Authorizing The Reimbursement Of Assured From Base Rental Payments Made By The City Of Oakland Pursuant To The Sublease Relating To The Bonds; And