HomeMy WebLinkAboutRES NO 67-95 67-95
RESOLUTION NO.
RESOLUTION APPROVING FORM AND SUBSTANCE OF ACQUISITION
AND DISCLOSURE AGREEMENT AND AUTHORIZING
CHANGES THERETO AND EXECUTION THEREOF
CITY OF BAKERSFIELD
ASSESSMENT DISTRICT NO. 94-3
(SILVER CREEK/BRIMHALL NORTH/SEVEN OAKS/SOUTH LAURELGLEN)
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 April 19, 1995, by and between the
city and Castle & Cooke Communities, Inc., and Castle & Cooke
Homes, Inc. (collectively, "Castle & Cooke"), together with
Exhibits A through C, inclusive, attached thereto; and
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 HEREEY FINDS,
DETERMINES AND 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. 94-3 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 Acquisiton and Disclosure Agreement is attached to
this resolution.
2. This City Council hereby authorized 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
$F2-42571.1 2 40213-13-884-04/06/95
regular meeting thereof held on April 19, 1995 by the following
vote:
AYES; COUNCILMEMBER DeMONO, CARSON, SMITH, McDERMOTT, R(A%'LES, CHOW, SALVAGGIO
NOES: COUNCILMEMBER
ABSTAIN: COUNCILMEMBER
ABSENT: COUNCILMEMBER
Assistantcity Clerk and Ex
Clerk of the Council of the
City of Bakersfield
APPROVED this 1~ day of April,
MAYORal the City of Bakersfield
1995
APPROVED AS TO FORM:
ORRICK, HE~RINGTON & SUTCLIFFE
Bond Counsel
COUNTERSIGNED:
CITY ATTORNEY of the
City of Bakersfield