HomeMy WebLinkAboutRES NO 80-58
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RESOLUTION NO ._~~-58
RESOLUTION PROPOSING CHANGE IN RESOLUTION
. OF INTENTION UDER PUBLIC IMPROVEMENT DIS-
TRICT NO. 739 4HD SETTING TIME FOR HEARING
THEREON.
WHEREAS, Section 4 of Resolution of Intention No. 739, sets
forth that serial bonds shall be issued to represent each assessment
of $25.00 or more remaining unpaid for thirty days after the date of
recording the warrant, and
WHEREAS, said Resolution should be amended by changing the
amount of such remaining unpaid assessment from $25.00 to $50.00, and
WHEREAS, there will be no increase or decrease in the cost of
work under Public Improvement District No. 739 by reason of said change.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of
Bakersfield, as follows:
1. That Section 4 of Resolution of Intention No. 739, hereto-
fore adopted by the Oity Council on the 20th day of October, 1958, be
and the same is hereby proposed to be changed to read as follows:
Section 4. That serial bonds, bearing interest at the
rate of six per cent (6%) per annum, shall be issued t~
present each assessment of Fifty Dollars ($50.00) or more
remaining unpaid for thirty (30) days after the date of
recording the warrant. Said serial bonds shall extend
over a period ending nine (9) years from the second day
of January next succeeding the next October fifteenth
following their date. Said bonds shall be made payable
to bearer. The redemption provisions of said bonds shall
provide that a premium of five per cent (5%) on unpaid
principal shall be paid in the event o~ redemption of' a
b~nd prior to maturity date thereof. payme:qts on the
principal of unpaid assessments and interest thereon shall
be made by property owners to the City Traasurer, and the
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same shall be disbursed by said City Treasurer, all
as provided in the said "Improvement Act of 1911tt.
2. Notice is hereby given that on the 15th day of December,
1958, at the hour of 8:00 o'cloek P.M., in the chambers of the City
Council in the City Hall in said City of Bakersfield, any and all
persons having any objections to the proposed change, may appear before
the City Council and show cause why said change should not be ordered
by this Council. Protests must be in writing and must be delivered
to the City Clerk prior to the time set for the hearing.
3. The City Clerk shall cause this Resolution to be published
once, not less than 10 days prior to the date of hearing, in a news-
paper of general circulation.
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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 meet-
ing thereof held on the lst day of December, 1958, by the following
vote:
AYES: BALFANZ BENnE" .~"~PlilftfS ~. .
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ABSENT: - '- C". .... <L(;.."". .,,(, -~ -
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Cit~lark and x-Officio Clerk of the
Council of the City of Bakersfield.
APPROVE..D ~da~. December, 1958
U ~ J)~
MAYOR ot the 01 ty ote-Bakersfield.
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