pages: SpecialFinanceAndManagementCommittee/2012-05-08.pdf, 6
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SpecialFinanceAndManagementCommittee | 2012-05-08 | *Special Finance & Management Meeting Minutes May 8, 2012 Committee 13 -Subject: Goldman Sachs Rate Swap From: Councilmember Nadel Recommendation: Receive A Report And Recommendations For Action on How To Address The Goldman Sachs Rate Swap Agreement Without Having To Pay The $16 Million Early Termination Fee 11 0306 *Withdrawn with No New Date View Report.pdf View Report.pdf 14 Subject: Goldman Sachs Swap Agreement Termination From: Finance And Management Agency Recommendation: Adopt A Resolution Of The City Council Of The City Of Oakland Authorizing The City Administrator To Negotiate And Terminate The City's Interest Rate Swap Agreement With Goldman Sachs & Co. To The Extent That The City Is Able To Do So At A Below Market Value Cost And Not Later Than The End Of The Next Fiscal Year, June 30, 2013 11-0424 A motion was made by Member Brunner, seconded by Chair De La Fuente, that this matter be Continued to the *Finance & Management Committee, due back on June 12, 2012 The committee directed staff to return to the Finance and Management Committee and provide the following: 1. Research of what other cities are doing 2. The complete BLX report 3. Legal analysis assessing the risks if payment is not made 4. Legal analysis if the contract is terminated 5. Methods on shopping for outside council The motion carried by the following vote: Votes: Councilmember Aye: Member Brooks, Member Kernighan, Member Brunner and Chair De La Fuente There were twenty-two (22) speakers on this item View Report.pdf City of Oakland Page 6 Printed on 5/22/12 | 6 | SpecialFinanceAndManagementCommittee/2012-05-08.pdf |