HomeMy WebLinkAboutRES NO 55-57 RESOLUTION NO 55-57
RESOLUTION OF THE COUNCIL 0F' THE CITY 0P
BAKERSFIELD CALLING FOR THE PJEDEI~PTION OF .'
SERIES A OFF-STREET PARKING REVE}FjE BONDS
NOS. A880 TO A837, INCLUSIVE; FOR PUBLICATION
OF NOTICE OF REDEMPTION OF SAID BONDS, AND
AUTHORIZING THE FISCAL AGENT TO rEDEEM SAID
BONDS.
WHE~REAS, pursuant to Resolution No. 75-55 of the Com~cil
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 ofCalifornia,.the Cit~ of
Bakersfield did issue certain Off-Street Parking Revenue Bonds
Series A, which were duly sold, and '
~[HEREAS, by said Resolution it is specified that Series A
Bonds Nos. A176 to A880, bothinclusive, are redeemable only in
reverse numerical order from high to lower upon the~ dotermi~.?.tion
of the Council .and upon notice of said redemption, and
WHEREAS, it is the desire of the Council to call for the
r'edemption of SeriesA Off-Street Parking Revenue BOnds Nos..A880
to A837, inclusive, on December l, t9~7~.
NOW, THEREFORE, BE IT RESOL~YD by the Council of the City
of Bakersfield, as follows:
That said Bonds A880 to A837, inclusive, shall be redeemed
on December l, 1957, and that the Crocker-Anglo National Bank,
successors i~ the Angle-California National Bank, the Fiscal Agent
under said Resolution No. 75-~5, be and it is'hereby authcrized ~nd
directed to redeem said bonds according to the terns of said Bends,
and of said Resolution, at the redemption price of one.hundred three
and fifty one hundredths percent (103.50%).'of their principal amount,
-brpon--presentation-'and surrender-of suc:h'-Bon~'y~m~d;'tha~ tl~e'-int~est
on said Bonds hereinabove set forth to be redeemed,'sh~ll cease to
accrue from and after December 1, 19~7'.. ·
That said Fiscal Agent is hereby authorized and directed
to transfer into the Series A Sinking Fund from the 0ff-St~eet
Parking Reserve Fund, any and all slams vrhich 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 F~R~HER RESOLVED that the Clerk is hereby directed
to publish Notice of Redemption twice in The Bakersfield Californian,
a daily newspaper of general circulation publishedin the. City of
Bakersfield, California, once a week for two successive weeks, the
first publication to be not less than thirty (30) 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..75-55, and also the respective
registered owners of any.Bonds desig~ated for redemption at their
addresses appearing on the Bond registration books, at least thirty
(30) days prior to the redemption date.
I HEREBY CERTIFY that:~he foregoing Resolution.~as passed
and adopted by the Council of the City of Bakersfield at a regular
meeting thereof held on the 12tat day of .October, 1957, bY the follow-
ing vote: _~
AY~,.:S: BALFANZ, ~3E'NTLEY, CA;~;:A;;IS, CCLLI:'-;S, C2CES, r:".'.:ZE, DObLIN;
NOES:' ~ -- -
A~4~ENT: -, ~
Ci'ty 01~rk and Ex-0fffci~ Clerk of the
Courtoil of the City of Bakersfield.
MAYOR! of the City of BakerSfield.