HomeMy WebLinkAboutRES NO 124-91 RESOLUTION NO. ~ 2 4 - 9 1
RESOLUTION APPROVING PURCHASE CONTRACT
AND AWARDING SALE OF BONDS
CITY OF BAKERSFIELD
ASSESSMENT DISTRICT NO. 90-1
(JEWETTA TRUNK SEWER/CALLOWAY CANAL RELOCATION)
RESOLVED, by the City Council of the City of Bakersfield,
California, that:
WHEREAS, the Council, by Resolution No. 99-91, adopted
June 5, 1991, and amended by Resolution No. 123-91, adopted June
19, 1991, authorized the issuance of the City of Bakersfield
Assessment District No. 90-1 Limited Obligation Improvement Bonds
in the aggregate amount of not to exceed $4,412,000; and
WHEREAS, sale of the Bonds has been duly negotiated in
the manner prescribed by Resolution No. 99-91, as amended; and
WHEREAS, the negotiated bid received for the Bonds was
from Sutro & Co., Inc., 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 $4,412,000, 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.
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 19th day of June, 1991,
by the following vote:
Peterson, Edwards, Debbnd, Smith,
AYES: COUNCILMEMBERS: Brunni, M~Dermott, Salvaggio
NOES: COUNCILMEMBERS: None
ABSENT:
COUNCILMEMBERS: None
ABSTENTIONS:
COUNCILMEMBERS: None
,~,,?//~'? City Clerk and Ex Offi~i~ /
Clerk of the Council of ~he ~
City of Bakersfield
MAYOR of the City of B~
COUNTE~j~ GNED:
APPROVED AS TO FORM:
Richard Har~ove
BOND COUNSEL
APPROVED AS TO FORM:
CITY ATTORNEY of the
City of Bakersfield
700370DA.R07
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