HomeMy WebLinkAboutRES NO 18-88RESOLUTION NO. 18-88
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 C
RANCHO LABORDE
RESOLVED, by the Council of the
California (the "City"), that
1. Series C Bonds. The Bonds of
City of Bakersfield,
Series C of Improve-
ment Bonds, City of Bakersfield Assessment District No.
"Bonds Series C") shall be in the aggregate principal
$2,470,000.00, shall be dated March 9, 1988, which is
Date for the Series C Bonds. The Bond Denomination
Series C Bonds means the amount of $5,000, which is the
amount in which the Bonds may be issued. The Bond Year
Series C Bond means the twelve month period beginning on
of each year and ending on March 8 of the following year,
ing with the period beginning March 9, 1988, and ending
8, 1989.
86-2 (the
amount of
the Bond
for the
minimum
for the
March 9
commenc-
on March
The Interest Payment Date for the Series C Bonds means
the dates upon which interest on the Bonds is payable commencing
on Sept. 2, 1988, and semi-annually thereafter on September 2 and
March 2 of each year to maturity.
The Reserve Fund means the fund established by the
Treasurer from the proceeds of the sale of the Series C Bonds Jn
the amount of $242,060.
The Series C Bonds shall be issued only in fully regis-
tered form in the amount of the Bond 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 C Bonds shall be numbered or otherwise identified as deter-
mined by the Agent.
2. Form of Series C Bonds. The form of the Series C
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 C,
are dated March 9, 1988, and are issued pursuant to this Resolu-
tion.
3. The Series C 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 p~ovisions of Resolution No.
2
165-86 are incorporated herein and made a part hereof by refer-
ence thereto, and shall apply to the Series C Bonds.
......... o0o .........
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 February 17, 1988 ,
by the following roll call vote:
COUNCILMEMBERS ~ DeMOND. S~ITH ~Z:~ PFT['R~qON McP[,~MOI~. f,,¢t. VAGGIO
COUNCIl ME;,'~[ ~S None
AS~JT COL~NC[LMtMd[ ~S Ratty
ABS~A~N~NG~ COUNC~L~EUBEeS Childs
APPROVED February 17, 1988
CITY CLERK and Ex Officio Clerk
of the Council of the City of
Bakersfield
MAYOR of the City of B~kefsfield
~ CITY ATTORN~Y~~tt~ of
B la k el f/~
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