HomeMy WebLinkAboutRES NO 38-94 eE"O'.UTIO..O. 3 8 ' 9 4
RESOLUTION APPROV'rNG PURCHASE CONTRACT
AND AWARDTNG BALE OF BONDS
CITY OF BAKERSFIELD
ASSESSMENT DISTRICT NO.
93-2
RESOLVED BY THE CITY COUNCIL (the "Council") OF THE CITY
OF BAKERSFIELD (the "City") AS FOLLOWS:
WHEREAS, the Council, by that certain resolution
entitled, "Resolution Acknowledging Waiver of Cash Payment Period,
Determining Unpaid Assessments and Providing for Issuance of
Bonds," adopted March 9, 1994, authorized the issuance of the City
of Bakersfield Assessment District No. 93-2 Limited Obligation
Improvement Bonds in the aggregate amount of not to exceed
$3,990,000 (the "Resolution,,); and
WHEREAS, sale of the Bonds has been duly negotiated in
the manner prescribed by the Resolution; and
WHEREAS, the negotiated bid received for the Bonds was
from Miller & Schroeder, Solana Beach, California, whose Purchase
Contract on the various Bonds, maturing as set forth in the
Purchase Contract, is on file with the City Clerk of the City of
Bakersfield and incorporated herein by reference.
NOW, THEREFORE, IT IS HEREBY FOUND, DETERMINED AND
ORDERED AS FOLLOWS:
1. The sale of the Bonds to Miller & Schroeder, in the
aggregate principal amount of not to exceed $3,990,000, pursuant to
the terms of the Purchase Contract therefor on file with the City
Clerk of the City, is in the best interest of the public, and such
sale is hereby authorized and awarded pursuant to the terms of the
Purchase Contract.
2. The Purchase Contract is hereby approved and the
Finance Director of the City is hereby authorized and directed to
execute the Purchase Contract and all other necessary documents, in
forms approved by the City Attorney of the City and/or Bond
Counsel, and to do all other things necessary, to complete such
sale and delivery of the Bonds.
3. This resolution shall take effect upon adoption.
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I HEREBY CERTIFY that the foregoing Resolution was passed
and adopted by the City Council of the City of Bakersfield at a
regular meeting thereof held on the 9th day of March, 1994, by the
following vote:
ABSENT; C~NCIL~M~
City Clerk and Ex officio Clerk of
the Council of the City of
Bakersfield
Mayor o~t~ Citylof Bakersfield
APPROVED AS TO FORM:
Richard H. Hargrove, Bo~d Counsel
COUNTERSIGNED:
[ I of the of
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