HomeMy WebLinkAboutRES NO 181-94RESOLUTION NO. ,1 8 I ' 9 4
RESOLUTION APPROVING PURCHASE CONTRACT
AND AWARDING SALE OF BONDS
CITY OF BAKERSFIELD
ASSESSMENT DISTRICT NO. 93-3
(CALIFORNIA-OAK)
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 Determining Unpaid Assessments and Providing
for Issuance of Bonds," adopted November 16, 1994, authorized the
issuance of the City of Bakersfield Assessment District No. 93-3
Limited Obligation Improvement Bonds in the aggregate amount of not
to exceed $1,517,000 (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 Sutro & Co., Inc., San Francisco, 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 Sutro & Co., Inc., in the
aggregate principal amount of not to exceed $1,517,000, 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.
10-31-940535.1 )
OR;G;;~AL
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 16th day of November 1994, by
the following vote:
AYES: COUNCILMEMBERS Mc~ERMOTi', EDWARDS, DeMOND, SMITH, BRUNNI, ~{O~¥LES, SALVAGGJO
NOES: COUNCILMEMBERS
A~TAIN: COU~ILMEMBERS ~0~
~ENT; C~IL~MBE~ ~ 0 ~ ~:
,
Clty Clerk and Ex Officio Clerk of
the Council of the City of
Bakersfield
APPROVED~i~6th day of November 1994:
Mayor/6f ~h& City of Bakersfield
APPROVED AS TO FORM:
BURKE, WILLIAMS & SORE~SEN
Bond Counsel ,//
COUNTERSIGNED:
rAs~eO~dEY of the ~ o~
2
OR;G;i~AL