HomeMy WebLinkAboutRES NO 52-88RESOLUTION NO. 52-88
A RESOLUTION OF THE COUNCIL OF THE CITY
OF BAKERSFIELD, CALIFORNIA, PROVIDING FOR
THE ISSUANCE OF IMPROVEMENT BONDS, CITY OF
BAKERSFIELD ASSESSMENT DISTRICT NO. 86-2, SERIES D
RESOLVED, by the Council of the City of Bakersfield,
California (the "City"), that
1. Series D Bonds. The Bonds of Series D of Improve-
ment Bonds, City of Bakersfield Assessment District No. 86-2 (the
"Bonds - Series D") shall be in the aggregate principal amount of
$4,568,000.00, shall be dated April 19, 1988, which is the Bond
Date for the Series D Bonds. The Bond Denomination for the
Series D Bonds means the amount of $5,000, which is the minimum
amount in which the Bonds may be issued. The Bond Year for the
Series D Bond means the twelve month period beginning on April
19 of each year and ending on April 18 of the following year,
commencing with the period beginning April 19, 1988, and ending
on April 18, 1989.
The Interest Payment Date for the Series D Bonds means
the dates upon which interest on the Bonds is payable commencing
on September 2, 1988, and semi-annually thereafter on September 2
the Bond
and March 2 of each year to maturity.
The Reserve Fund means
Treasurer from the proceeds of [bc
the amount of $447,6(;4.
The Series D Bonds
tered form in the amount of
Lhe fund established by the
saJe of the Series D I~onds in
issued only in full./ regis
Denomination or any integral
multiple thereof, and shall mature in the amounts and on the
dates and at the rates of interest set forth in Exhibit "A"
attached hereto and by this reference made a part hereof. The
Series D Bonds shall be numbered or otherwise identified as deter-
mined by the Agent.
2. Form of Series D Bonds. The form of the Series D
Bonds shall be as provided in Exhibit "C" of Resolution No.
165-86, A Resolution of the Council of the City of Bakersfield
Determining Unpaid Assessments and Providing for Issuance of
Bonds in the Matter of City of Bakersfield Assessment District
No. 86-2 and Providing for issuance of Series A Bonds (herein
"Resolution No. 165--86") adopted by this Council on the 5th day
of November, 1986, modified to show that they are of Series D,
are dated April 19, 1988, and are issued pursuant to this Resolu-
tion.
3. The Series D Bonds are issued to provide funds for
acquisition of certain improvements and the payment of incidental
costs, including but not limited to costs of issuance, all as
more specifically shown in Exhibit "B" attached hereto and by
reference incorporated herein. Said acquisitions and incidental
costs are in implementation and pursuant to Resolution of Inten-
tion No. 1004 adopted June 4, 1986.
4. Resolution No. 165-86. Excepting as in this Resolu-
tion otherwise provided, all of the provisions of Resolution No.
165-86 are incorporated herein and made a part hereof by refer-
ence thereto, and shall apply t~ t]~. S~ries D Bonds.
......... 00o .........
2
I HEREBY CERTIFY that
passed and adopted by the Council
regular meeting thereof held on
by the following roll call vote:
the foregoing Resolution was
of the City of Bakersfield at a
March 30, 1988
NOES: 60Ll:,. [, None
No~e
ABSENT, C9.~
ABSTAI~NG ~OUNCIL[~L[~BEBS None
APPROVED
March 30, 1988
CITY CLERK and Ex Officio Clerk
of the Council of the City of
Bakersfield
MAYOR of the City o[ ~ersfield
c~'rY A']'TqR~/ .~ city of
FILE: CN-~SALE
MODIFIED ENGINEER'S REPORT
RLt. OCATION OF PROJECT COSTS TO IMPRGUEMEMT BOND ISSDES '*SFRIE5 H, B, C HBO O BONDS) ........
c. sm. IDFOFBL PUBLIC IMPROUEMENTS
CDNSTRUCTI ON COSTS
SUBTOTAL UTILIT~ IMPROVEMENTS
CONSTRUCTION COSTS
~. rorRL CONSTRUCTION CONTINGENCY
E. rOrBL CONSTRUCTION COST AND
CONTINGENCY
$B5~,035.00
3. rOTBL RSSESSMENT PROCEEDING INCIDENTAL
COSTS AND EXPENSES
4. ~OTBL COST ro BONO FINANCING
B. BONO RESERUE FUND (9.8Z)
B. CRPIIRLIZEO INTEREST
C. BOND DISCOUNT
O. ~IN~NCING CONSULTRNT