HomeMy WebLinkAboutRES NO 180-87RESOLUTION NO. 180-87
A RESOLUTION OF THE COUNCIL OF THE CITY
OF BAKERSFIELD, CALIFORNIA, PROVIDINC FOR
THE ISSUANCE OF IMPROVEMENT BONDS, CITY OF
BAKERSFIELD ASSESSMENT DISTRICT NO. 86-2, SERIES B
RESOLVED, by the Council of the City of Bakersfield,
California (the "City"), that
1. Series B Bonds. The Bonds of Series B of Improve-
ment Bonds, City of Bakersfield Assessment District No. 86-2 (the
"Bonds - Series B") shall be in the aggregate principal amount of
$3,310,000.00, shall be dated October 1, 1987, which Js the Bond
Date for the Series B Bonds. The Bond Denomination for the
Series B 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 B Bond means the twelve month period beginning on October
1 of each year and eading on September 30 of the following year,
commencing with the period beginning October 1, 1987, and ending
on September 30, 1988.
The Interest Payment Date for the Series B Bonds means
the dates upon which interest on the Bonds is payable commencing
on March 2, 1988, and semi-annually thereafter on September 2 and
March 2 of each year to maturity.
The Reserw~ Fund means the fund established by the
Treasurer from the proceeds of the sale of the Series B Bonds in
the amount of $324,380.00.
The Series B 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 B Bonds shall be numbered or otherwise identified as deter-
mined by the Agent.
2. Form of Series B Bonds. The form of the Series B
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 B,
are dated October 1, 1987, and are issued pursuant to this Resolu-
tion.
3. The Series B 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
ence thereto, and shall apply to the Series
......... o0o .........
part hereof by refer-
B Bonds.
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 September 23, 1987
by the following roll call vote:
CItY C~K an8 ~x Off±cio Clerk
of the Counc11 o~ the City of
Bakersfield
APPROVED
September 23, 1987
MAYOR of the City of Bakersfield
CITY ATTO~NE~ of t~e City of
Bakersfield
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