HomeMy WebLinkAboutRES NO 181-87RESOLUTION NO. 181-87
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 B
WHEREAS, the Council by Resolution No. 1180 87,
adopted September 23, 1987, authorized the issuance of
$3,310,000.00 principal amount of bonds to be known as "IMPROVE-
MENT BONDS, CITY OF BAKERSFIELD ASSESSMENT DISTRICT NO. 86-2,
SERIES B" (the "Bonds"), all dated the date of delivery, which is
expected to be October 1, 1987; 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. L. 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:
1. The final bid was submitted by M. L. STERN & CO.
INC. (herein "Company"), for $3,310,000.00 principal amount of
Improvement Bonds, City of Bakersfield Assessment District No.
86-2 Series B, 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 hereby approved.
2. The Official
for Series A Improvement
Statement shall be in the general form
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 is hereby authorized
to execute said purchase contract.
4. This resolution shall take effect upon adoption.
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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:
the foregoing Resolution was
of the City of Bakersfield at a
September 23, 1987
APPROVED
Septelmber 23, 1987
CITY CLERK and Ex Officio Clerk
of the Council of the City of
Bakersfield
MAYOR of the City of Be'kersfield
Y of the City of
Bakersfield
EXHIBIT "A"
CITY OF BAKERSFIELD
ASSESSMENT DISTRICT NO. 86-2
SERIES B
Maturity
Due 9/2
Principal
Amount
Interest
Rate
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
S
EXHIBIT "A"