HomeMy WebLinkAboutRES NO 77-55
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RESOLUTION NO. 77-55
AUTHORIZING AND DIRECTING THE ISSUE OF ONE
TEMPORARY BOND TO EVIDENCE CITY OF BAKERSFIELD
OFF-STREET PARKING REVENUE BONDS, SERIES A
WHEREAS, the Council of the City of Bakersfield has
heretofore by Resolution No. 75-55
adopted November 14, 1955
(hereinafter called the "Resolutionll), duly authorized the
issuance. of $880,000 principal..amount of City of Bakersfield
Off-Street Parking Revenue Bonds, Series A; and
WHEREAS, the City requires the proceeds of sale of
said Series A Bonds not later than December 12, 1955, for the
purpose of the purchase, acquisition, construction and-improve-
ment of the Project described in the Resolution, and definitive
coupon Series A Bonds cannot be prepared, executed and
available for delivery by December 12, 1955, and it is neces-
sary that a temporary Series A Bond, exchangeable for defini-
tive coupon Series A Bonds when ready for delivery, be prepared,
executed and delivered by the City on or about December 19, 1955,
to the purchaser of the Series A Bonds;
NOW, THE~ORE, BE IT RESOLVED by the Council of the
City of Bakersfield as follows:
Section 1. Pursuant to the provisions of Section 2.12
of the Resolution, the Council hereby authorizes the preparation,
execution and delivery to the purchaser of the Series A Bonds
against paYment of the purchase price thereof, on or about
December 12, 1955, of one temporary Series A Bond, exchangeable
for the definitive Series A Bonds when ready for delivery.
Said temporary Series A Bond shall be of the <denomination of
$880,000, shall be numbered TA-l, shall be printed, shall be
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payable in installments on the respective maturity dates of,
and shall bear interest from its date at the respective rates
to be borne by, the definitive Series A Bonds, shall be in
bearer fo~ without coupons, and shall be registerable only
as to both principal and interest in the manner provided in
the Resolution.
Said temporary Series A Bond shall (until
exchanged for the definitive Series A Bonds) be entitled and
subject to the same benefits and provisions of the Resolution
as the definitive Series A Bonds and shall be exchangeable
only for the definitive Series A Bonds, Numbers Al to A880,
both inclusive, in bearer fo~ with appurtenant coupons, at the
office of the Fiscal Agent, referred to in the Resolution, at
the risk and expense of the owner or holder of said temporary
Bond, but without special charge for such exchange, as soon as
the definitive Series A Bonds can be prepared and are ready for
delivery.
Section 2. Said temporary Series A Bond shall be in
substantially the following fo~:
TEMPORARY BOND EXCHANGEABLE
~OR DEFINITIVE BONDS WHEN
READY FOR DELIVERY
,
$880,000.00
UNITED STATES OF AMERICA
STA TE OF CALIFORNIA
CITY OF BAKERSFIELD
OFF-STREET PARKING REVENUE BOND
SERIES A
NO. TA-l
Issued Pursuant to Resolution of the Council of the
City of Bakersfield adopted November 14, 1955.
The City of Bakersfield, a municipal corporation
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organized and existing under the Constitution and Laws of the
state of California, hereby acknowledges itself indebted, and,
for value received, promises to pay (but only out of the Revenues
hereinafter referred to ) to the registered owner hereof, the
aggregate principal sum of Eight~Hundred Eighty Thousand Dollars
($880,000.00), payable in installments on the respective dates,
bearing interest from the date hereof at the respective rates,
and exchangeable for definitive City of Bakersfield Off-Street
Parking Revenue Bonds, Series A, bearing the respective numbers,
all as set forth in the following schedule:
Definitive
Bond Numbers
(all inclusive, Principal
bearing prefix IIAII) Amount
1 to
21 to
46 to
71 to
96 to
121 to
146 to
176 to
206 to
236 to
266 to
296 to
331 to
366 to
401 to
436 to
476 to
516 to
556 to
596 to
641 to
686 to
731 to
781 to
831 to
20
45
70
95
120
145
175-
205
235
205
295
330
365
400
435
475
515
555
595
640
685
730
780
830
880
$20,000
25,000
25,000
25,000
25,000
25,000
30;000
30,000
30,000
30,000
30,000
35,000
35,000
35,000
35,000
40,000
40,000
40,000
40,000
45,000
45,000
45,000
50,000
50,000
50,000
Maturity
Date Interest
(December 1) Rate
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
Said interest is payable semi-annually on June 1 and
December 1 in each year until the paYment of said principal sum.
Both the principal of and interest on this Bond are payable in
lawful money of the United States of America at the principal office
of Anglo California National Bank (herein called the "Fiscal Agent~),
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San Francisco, California. Said interest is payable only on
presentation of this temporary Bond at said office of the Fiscal
Agent for notation hereon of paYment of interest; and the
installments of the principal of this temporary Bond, if not
exchanged for definitive Series A Bonds are payable only on
presentation of this temporary Bond for notation hereon of such
paYments of such installments of principal.
This Bond is a temporary Bond issued pending the
preparation of definitive Series A Bonds and is exchangeable
at the risk and expense of the owner or holder hereof for
definitive Series A Bonds as hereinabove provided, when ready
for delivery at said office of the Fiscal Agent, in accordance
with the provisions of the resolution referred to in the heading
above and the provisions of the Resolution hereinafter referred
to. Until such exchange, this temporary Bond shall in all
respects be entitled to the same benefits as definitive Series A
Bonds issued pursuant to that certain Resolution entitled
"Resolution of the Council of the City of Bakersfield, State of
California, Authorizing the Issuance of City of Bakersfield
Of.f-Street Parking Revenue Bonds and of $880,000 Principal
Amount of Series A Bonds II, adopted by the Council of said City
on November 14, 1955, herein referred to as the "Resolution".
Reference is hereby made to the Resolution (a copy of which is on
file at said office of the Fiscal Agent) and all of the te~s of
the Resolution are hereby incorporated herein and are hereby
constituted a contract between the City and the registered owner
from time to time of this temporary Bond, to all of the provi-
sions of which the registered owner hereof by his acceptance of
this temporary Bond shall have recourse and shall be bound.
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This Bond is one of a duly authorized issue of City
of Bakersfield Off-Street Parking Revenue Bonds (unlimited in
aggregate principal amount, except as otherwise provided in
ths Resolution) and is one of the temporary Series A Bonds of
said authorized issue and is issued by the City of Bakersfield
pursuant to the provisions of Sections 33.1, 33.2 and 33.3 of
the Charter of said City, the Resolution, and said resolution
referred to in the heading above. Neither paYment of the principal
of or interest on this Bond constitutes a debt, liability or
obligation of the City of Bakersfield, except as provided in said
Charter and in the Resolution and in the definitive Series A Bonds.
This Bond is payable exclusively from and is secured by a first
direct and exclusive pledge of and charge and lien upon
the Revenues (as such te~ is defined in the Resolution). All
of the te~s and conditions of the definitive Series A Bonds
are incorporated herein by reference and made a part hereof
with like force and effect as though herein set forth at length.
Definitive Series A Bonds maturing on or before
December 1, 1962, are not redeemable prior to their fixed
maturity da~es. Definitive Series A Bonds maturing on or
after December 1, 1963, are redeemable on or after December 1,
1957, but not prior thereto, at the option of the City, as more
fully set forth on the face of said definitive Series A Bonds
and in the Resolution, and this temporary Bond, to the extent
exchangeable for definitive Series A Bonds maturing on or
after December 1, 1963, is subject to call and redemption in
the same manner as set forth on the face of said definitive Series A
Bonds so maturing.
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It is hereby certified, recited and declared that all
acts, conditions and things required to exist, happen and be
perfo~ed precedent to and in the issuance of this Bond exist,
have happened and have been perfo~ed in due time, fo~ and
manner as required by the Constitution and Laws of the State of
California and the Charter of the City of Bakersfield, and that
the amount of this Bond, together with all other indebtedness
of the City, does not exceed any limit prescribed by the
Constitution or Laws of the State of California, or the Charter
of said City, and is not in excess of the amount of Bonds per-
mitted to be issued under the Resolution.
This temporary Bond shall not be entitled to any
benefit under the Resolution or be valid or become effective
for any purpose until this Bond shall have been authenticated
by the execution by the Fiscal Agent or its successor in that
office, of the certificate endorsed hereon.
IN WITNESS WHEREOF the City of Bakersfield has caused
this temporary Bond to be executed under its official seal,
signed by its Mayor and its Treasurer and countersigned by its
Clerk, all as of the 1st day of December, 1955.
Mayor
of the City of Bakersfield
: Treasurer
of the City of Bakersfield
COUNTERSIGNED:
City Clerk
of the City of Bakersfield
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It is hereby certified, recited and declared that all
acts, conditions and things required to exist, happen and be
perfo~ed precedent to and in the issuance of this Bond exist,
have happened and have been perfo~ed in due time, fo~ and
manner as required by the Constitution and Laws of the State of
California and the Charter of the City of Bakersfield, and that
the amount of this Bond, together with all other indebtedness
of the City, does not exceed any limit prescribed by the
Constitution or Laws of the State of California, or the Charter
of said City, and is not in excess of the amount of Bonds per-
mitted to be issued under the Resolution.
This temporary Bond shall not be entitled to any
benefit under the Resolution or be valid or become effective
for any purpose until this Bond shall have been authenticated
by the execution by the Fiscal Agent or its successor in that
office, of the certificate endorsed hereon.
IN WITNESS WHEREOF the City of Bakersfield has caused
this temporary Bond to be executed under its official seal,
signed by its Mayor and its Treasurer and countersigned by its
Clerk, all as of the 1st day of December, 1955.
Mayor
of the City of Bakersfield
: Treasurer
of the City of Bakersfield
COUNTERSIGNED:
City Clerk
of the City of Bakersfield
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[FORM OF FISCAL AGENT'S .CERTIFICATE]
This Bond is one of the Bonds described in the within
mentioned Resolution.
FISCAL AGENT
By
Authorized O~ficer
Note:
There must be no writing in the space below except by the
Fiscal Agent.
Date of Name of
Registry Registered.Owner
Address of
Registered Owner
Signature of
Fiscal Agent
[FULL REGISTRATION AS TO BOTH PRINCIPAL AND INTEREST]
It is hereby certified that the within Bond is registered
as to both principal and interest and that said principal and
interest are payable only to the registered owner whose name and
address appear last in the space above, or his legal representative.
Dated:
FISCAL AGENT
By
Authorized Officer
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Section 3. Said temporary Series A Bond shall be
signed on behalf of the City of Bakersfield by the facsimile
signature of the Mayor and the facsimile signature of the
Treasurer of said City and shall be countersigned by the
City Clerk with a facsimile of the official seal of said City
printed thereon, and shall be authenticated by the Fiscal
Agent.
Section 4. This Resolution shall take effect from
and after its passage and approval.
Passed and adopted this 14th day of November, 1955,
by the following vote:
AYES:
Councilmen
NOES:
ABSENT:
AYES: CARNAKlS. ~. CROES, DOOllN. t'ifEtEtfli. '$CH1I'JEIlTZER~ SUUl\l'~~t
NOES: None. __' .-_.____'. .0' ....... :
ABSENT: CO 111ns, ____.' __..,_,"W_ _" """ ...P'1
qj!~9~
Mayor of thtlClty of Bakersfield,
California
ATTEST:
.~ ~n.. ~:~~tY~lJh-~ J
....".--
[ SEAL-]
Presented-to and approved by me this 14th day of
November, 1955.
Ya~~fJ~,
Cali ornia
/
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CLERK I S CERTIFICATE
.'
I,
MARIAN S. IRVIN, City Clerk of the CITY OF BAKERSFIELD,
California, do hereby certify that the foregoing is a full, true and
correct copy of a resolution duly adopted at a regular meeting of
the Council of said City duly and regularly held at the regular
meeting place thereof on the 14th day of November, 1955, of which
meeting all of the members of said Council had due notice and at
which a majority thereof were present; that at said meeting said
resolution was introduced by Councilman
Don Doolin
and read in full, and was thereupon adopted by the following vote:
AYES:
NOES:
ABSENT:
Councilmen
(;j!ES:; CMrUlKIS,AlII!I!!ftItS, CROES, DooLIN, EVELETH, SCHWEiTZER, SULUVAN.
r.o~: None
ABSENT: CO 11 ins
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That I have carefully compared the same with the original
minutes of said meeting on file and of record in my office and that
said resolution is duly entered of record in the minute book of
said Council and that said resolution is a full, true and correct
copy of the original resolution adopted at said meeting and entered
in said minutes; ~hat said resolution has not been amended, modified
or rescinded since the date of its adoption and the same is now in
full force and-effect.
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W;I:-!l'NESS' .-my hand and the seal of the City of Bakersfield
this I~~' day of-November, 1955.
~~'h.'~~) J.JA-,f~
Ci y C er 0 t City 0 a ersfield,
California