HomeMy WebLinkAboutRES NO 114-96 RESOLUTION NO. 1 1 4 ' 9 6
RESOLUTION APPROVING FORM AND SUBSTANCE OF ACQUISITION
AN~ DISCLOSURE AGREEMENT AND AUTHORIZING
C~NGES THERETO AND EXECUTION ?HEREOF
CITY OF BAKERSFIELD
ASSESSMENT DISTRICT NO. 96-1
(BRIMHALL II, SPRING MEADOWS, FAIRWAYS, AIYD CAMPUS PARK)
WHEREAS, there has been filed with the City Clerk of
the City of Bakersfield (the "City") a form of agreement entitled
"Acquisition and Disclosure Agreement" (the "Acquisition and
Disclosure Agreement"), dated October 9, 1996, by and between the
City and Castle & Cooke California,
together with Exhibits A through C,
and
Inc. ("Castle & Cooke"),
inclusive, attached thereto;
WHEREAS, this City Council wishes to approve the
Acquisition and Disclosure Agreement as to form and substance,
with provision for making changes thereto, and to authorize the
execution thereof;
NOW, THEREFORE, THE CITY COUNCIL HEREBY FINDS,
DETERMINES ~ RESOLVES as follows:
1. This City Council approves the form and substance
of the Acquisition and Disclosure Agreement, providing the terms
and conditions under which Castle & Cooke will provide for the
construction and installation of certain prescribed improvements
and (2) the terms and conditions under which the City will use
its best efforts to issue and sell limited obligation improvement
bonds of Assessment District No. 96-1 and utilize a prescribed
portion of the proceeds of sale of such bonds to acquire the
completed improvements, it being expressly provided in said
Acquisition and Disclosure Agreement, among other things, that
the purchase price of the subject improvements is payable solely
from such proceeds of sale and from no other source whatsoever.
A copy of the Acquisition and Disclosure Agreement is attached to
this resolution.
2. This City Council hereby authorizes the making of
modifications to said Acquisition and Disclosure Agreement prior
to execution thereof, provided that any such modifications,
including additions, changes, and deletions, be approved by the
City Attorney prior to such execution, such approval to be
conclusively established by the City Attorney's execution
thereof.
3. The Mayor is authorized to sign the agreement, the
Finance Director is authorized to countersign the agreement, and
all other officers and representatives of the City and of the
City's Bond Counsel for this assessment district are authorized
to execute where indicated.
I HEREBY CERTIFY that the foregoing resolution was
passed and adopted by the Council of the City of Bakersfield at a
$F2~3826.! 2 4(Y213-15 -M3 E-09/17/96
reg.ular meeting. thereof held on October 9, 1996 by the following.
vote:
AYES: CO,U, NCILMEMBER DeMOND, CARSON, SMITH, McDERMOTT, ROWLES, SULLIVAN, SALVAGGIO
NOES'. COUNC,LME['IBER
A3STAIN: COUNCILMEMESR
ABSENT: COUNCILMEMBER /t'du~l
9' City C~4~rk .a~.d~_x Officio
Clerk of the Council of the
City of Bakersfield
APPRO~ ~9th day of October,
MAYO~ oUf~t~ !i t~y/oo f Bakersfield
1996
APPROVED AS TO FORM:
COUNTERS IGNED:
CITY ATTORNEY of the
City of Bakersfield