HomeMy WebLinkAboutRES NO 79-59
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RESOLUTION NO. 79-59
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RESOLU.TION OF'THE COUNCTL OF THE CITY OF BAKE:fiS- .
FIELD' CALLING FOR THE REDEMPTION OF SERIES A. 'OFF-
STREET. PARKING REVENUE BONDS NOS. A 790 to A 781,
INCLUSIVE, AND NOS.A 780 TOA 773 ; INCLUSIVE; FOR
pUBLICATION OF NOTICE OF REDEMPTION OF. SAID. BONDS,'
AND AUTHORIZING THE FISOAL AGENl' TO' REDEEM SAID BONDS.
. WHEREAS, pursuant to Re'solution NO.7?-55 of the Council of
tl1e City of Bake;t'sfield, adopted November 14,' 1955, andpur.suant to
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the Char.ter ,of the City of Bakersfield,'and:.in accordance, with the
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Constitution and laws of the state'or'Caiifornia, the City of Bakers-
.field did issue certain Off-Street Parking Revenue 'Bonds ,Series. A,
which were duly sold, and
WHEREAS'" by' said Resolution' it 'is spe,cified ' that Seri,es A
Bond's:N'os.' A176 t.o. A880, both Incl~sive,' are redeemable' only in
revers'e . numerical order from high to lo:wer upon the determina tibn of.
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the Cound" 1 , arid up'on notice of said redemI?tiori., and
.WHEREAS, ',it is the desire of the Council to, call .for, th~
redemp1?1,.on of Series A Off-Street 'J>arking~eyenueBonds Nos. A 790 to
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',A781, fnclus1ve,and Nos. .a780 to A773,incl.usive, onD~cember 1,1959.
NOW, ,THEREFORE, BE IT RESOLVED by thEt C~)Un~il of the C:i,t.y of
Bakersfi~ldi as follows:
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That said Bonds A790 toA 781, 'inclusive,' and A780 to. A 773,
inc.lusive, shall be redeemed on December, i, 1959, a.nd that the Crock.er'-
Anglo National Bank, successors to the Anglo~Califor!iia N~tiopal Bank,
. the Fiscal Agent under sai,d Resolution No: ,75-.55, be and i t ~s 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, ~nd fifty one hund. redth.~ pe.rce~t .~1~3 .~O%)' of their., '.' ....
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principal ,amount , , upon presentation and surrl';lnderof .'stich 'bonds, and
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that t:b.e intereston.said.bonds hereinabove set'rbrth'tobe redeemed,.
shall cease to accrue from, and after December 1,.1959.
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That said Fiscal Agent i.s he,reby 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 ,FURTHER RESOLVED that the Clerk is hereb,y directed to
publish ~otice 'of Redemption twice in The Bakersfield Califo!,nian, a
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daily newspaper of general circulation pUblished in. the City of Bakers-'
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field, California,,-once a week for two successive weeks,. the first
publication to be not less than thirty (30) days prior to the re-
demption date, and that a ,similar notice be also mailed to the Fiscal
Agent, to,the o~iginal purchaser of each series of Bonds issued under
said Resolution No. 75-55, and also the respective registered owners
of any bonds designated for redemption at their addresses,appearing
on the bond registration books, at 'least thirty (30) days prior to
the redemption date.
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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 the 26th day of October, 1959~ by the following vote:
, AYES: BALFANZ, BENTLEY, CARNAKiS" COLUNS.~ DOOLIN, STI.E~N" .
NOES: , ~~
ABSEN~ ' , ~
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. ~"<~ie;k>'anfEx!~JClerk of the
Council of the City of B~kersfield.
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, MAYOR, 6t>?~the ~C'i tY-;d&t," Bakersfield.
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