HomeMy WebLinkAboutRES NO 112-60n .SOLUTION NO,
RESOLUTION OF THE COUNCIL OF THE CITY OF
BAKERSFIELD CALLING FOR THE REDEMPTION OF
SERIES A OF-STREET PARKING REVENUE BONDS
NOS. A-754 TO A'736, INCLUSIVE; FOR PUBLI-
CATION OF NOTICE OF REDEMPTION OF SAID BONDS~
AND i~UTHORIZING THE FISCAL AGENT TO REDEEM
SAID BONDS.
WHEREAS, pursuant to Resolution No. 75-55 of the Council
of the City of Bakersfield, adopted November 14, 1955, and pursuant
to the Charter of the City of Bakersfield, and in accordance with
the Constitution and laws of the State of California, the City of
Bakersfield did issue certain Off-Street Parking Revenue Bonds
Series A, which were duly sold, and
W~EREAS, by said Resolution it is specified that' Series A
Bonds Nos. A176 to A880, both inclusive, are redeemable only in
reverse numerical order from high to lower upon the determination
of the Council and upon notice of said redemption, and
WHERF~-S, it is the desire of the Council to call for the
redemption of Series A Off-Street Parking Revenue Bonds Nos. A-754
to A-736, inclusive, on December l, 1960.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City
of BakerSfield, as follows:
That said Bonds A-754 to A-736, 'inclusive, shall be re-
deemed on December l, 1960, and that the Crocker-Anglo National Bank,
successors to the ,Anglo-California National Bank, the Fiscal Agent
under said Resolution No. 75-55, be and it is hereby authorized and
directed to redeem said bonds according to the terms of said bonds,
and of said Resolution, at the redemption price of one hundred three
and fift~ one hundredths percent (103o50%) of their principal amount,,
upon presentation and surrender of such bonds, and that the interest
on said bonds hereinabove 'set forth to be redeemed, shall cease to
accrue from and after December 1, 196Qo · '.
That said Fiscal Agent is hereby authorized and directed
to transfer into the Series A Sinking Fund'from the Off-Street
Parking Reserve Fund, any and all sums which may be necessary for the
redemption of said bonds, should said Series A Sinking Fund be
insufficient for the purposes hereinabove set forth..
BE IT FURTBER RESOLVED that the Clerk .is hereby directed
to publish Notice of Redemption twice 'inThe'Bakersfield Californian~
a daily .newspaper ofgeneral circulation published in the City of
Bakersfield, California, once a week fo~ two successive weeks, the
first publication to be not less than thirty (3'0)'days.prior to the
redemption. date', and that a similar'notice be also mailed to the
Fiscal'Agent, to the original purchaser of each series of Bonds issued
under said Resolution No. 75-~5, and also the respective' ~egistered
owners of'any bonds designated for Pedemp~fon at their addresses
appearing on the bond registration'books; atleast thirty (30) days
prior to the redemption date. ..
..... o0o
I HEREBY CERTIFY. that the f.oregoing Resolution ~ms passed
and adopted by the Council of ~he City of Bakersfield at a regular mest~
ing thereof held on the 17th day of October, 1960, by the following vote:
City Cl~rk and E~-Of£icio Cle:L":~ of' t~e
Council of the City .of Bakersfield,