HomeMy WebLinkAboutRES NO 203-94RESOLUTION
RESOLUTION APPROVING FORM AND SUBSTANCE OF ACQUISITION
AGREEMENT AND AUTHORIZING CHANGES THERETO
AND EXECUTION THEREOF
CITY OF BAKERSFIELD
ASSESSMENT DISTRICT NO. 94-2
(GOSFORD/WHITE)
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
BAKERSFIELD as follows:
This City Council approves the form and substance of
that certain agreement between the CITY OF BAKERSFIELD and CASTLE
& COOKE HOMES, INC., entitled "Acquisition Agreement", dated
December 14, 1994, and providing (1) the terms and conditions
under which Castle & Cooke Homes, Inc., will provide for the
construction and installation of certain prescribed improvements
and (2) the terms and conditions under which the City of
Bakersfield will use its best efforts to issue and sell limited
obligation improvement bonds of Assessment District No. 94-2 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 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 Agreement is attached to this
resolution.
This City Council hereby authorized the making of
modifications to said Acquisition 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.
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
regular meeting thereof held on December 14, 1994 by the
following vote:
AYES: COUNCILMEMBERS DEMOND, CARSON, SMITH, ~-~llJ_ ~, ROWLE~ ..... , SALVAGGIO
NOES: COUNCILMEMBERS
ABSTAIN: COUNCILM~MEBER
ABSENT: COUNCILMEMBERS
C~t~ Clerk and Ex officio
Clerk of the Council of the
city of Bakersfield
APPROVals 14th day of December, 1994
APPROVED AS TO FORM:
ORRICK,~ERRINGTON & SUTCLIFFE
Bond Coui%sel
COUNTERSIGNED:
CITY ATTORNEY of the
City of Bakersfield