HomeMy WebLinkAboutRES NO 53-88RESOLUTION NO. 53 88
A RESOLUTION OF THE COUNCIL OF THE CITY
OF BAKERSFIELD, CALIFORNIA, AWARDING SALE
OF BONDS IN THE MATTER OF CITY OF BAKERSFIELD
ASSESSMENT DISTRICT NO. 86-2, SERIES D
WHEREAS, the Council by Resolution No. 52 88,
adopted March 30, 1988, authorized the issuance of $4,568,000.00
principal amount of bonds to be known as "IMPROVEMENT BONDS, CITY
OF BAKERSFIELD ASSESSMENT DISTRICT NO. 86-2, SERIES D" (the
"Bonds"), all dated the date of delivery, which is expected to be
April 19, 1988; and
WHEREAS, sale of such Bonds was authorized by the Pur-
chase Contract (herein "Purchase Contract") approved by Resolu-
tion No. 166-86, adopted November 5, 1986; and
WHEREAS, the final bid received for such Bonds from
M. [,. STERN & CO. INC., is on file with the City Clerk of the
City of Bakersfield and incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE
CITY OF BAKERSFIELD, CALIFORNIA, AS FOLLOWS:
]. The final bid was submitted by M. L. STERN & CO.
INC. (herein "Company"), for $4,568,000.00 principal amount of
Improvement Bonds, City of Bakersfield Assessment District No.
86-2 Series D, pursuant to the Purchase Contract and amendment
thereto and is on file with the City Clerk of said City. Said
final bid is in the best interest of the public and shall be and
is her'eby approved.
2. The Official Statement shall be in the general form
for Series A Improvement Bonds, City of Bakersfield Assessment
District No. 86-2 with such changes and modifications as neces-
sary to reflect the Bonds and as determined necessary and/or
appropriate and approved by the Finance Director of the City of
Bakersfield and Company.
3. The purchase contract, as amended, shall be in the
general form for Series A Improvement Bonds, City of Bakersfield
Assessment District No. 86-2 with such changes and modifications
as necessary to reflect the Bonds and as determined necessary
and/or appropriate and approved by the Finance Director of the
City of Bakersfield. The Finance Director
to execute said purchase contract.
4. This resolution shall take effect
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I HEREBY CERTIFY that
passed and adopted by the Council
regular meeting thereof held on
by the following roll call vote:
is hereby authorized
upon adoption.
the foregoing Resolution was
of the City of Bakersfield at a
March 30, 1988
AYES: COUNCILMEMBERS: CHILDS, OeMOND, SMITH, PATTY, P(:T~-qSON, McDEBMOTI ,~,LVAGGIO
NOES: COUNCILMEMBERS: None
ABSENT COUNCiLMEMBERS: None
ABSTAINING: COUNCILMEMBERS: None
CITY CLERK and Ex Officio Clerk
of the Council of the City of
Bakersfield
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APPROVED March 30,_1988
MAYOR of the City of 5ak~ersfield
Bak
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