HomeMy WebLinkAboutRES NO 17-65P~ESOLUTION NO.f !7,-76_..._5
RESOLUTION OF THE COUNCIL OF THE CITY OF
BAKERSF~ELD CALLING FOR THE REDEMPTION OF
SERIES A OFF~STKEET REVENUE BONDS NOSo A610
TO A596~ XNCLUSiVE~ AND NOSo A595 TO A591,
INCLUS!VE~ FOR PUBLICATION OF NOTICE OF
REDEMPTION OF SAID BONDS~ AND AUTHORIZING
THE FISCAL AGENT TO REDEEM SAID BONDS ~
WHEREAS~ pursuant to ~.esolution No. 75~55 of the Council
of the City of Bakersfield~ adopted November !4~ 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~S~reet Parking Revenue Bonds
Series A~ which weFe duly sold~ ~nd
WHEREAS~ by said Resolution it is specified that Series
A Bonds Noso A176 to A880~ both inc!usive~ are redeemable only in
reverse mumericai. order from high to.lower upon 'the determination
of the Counciland upon notice of said redemption, and
WHEKEAS~ it is the'desire of the Council to call for the
redemption of Series A Off~Street Parking Revenue Bonds Noso A610
to A596, lnclusive~ and Noso A595 to A59!~ inclusive~ on June
1965o
NOW, THEREFOREs BElT RESOLVED by the Council of the City
of Bakersfie!d~ as
That said Bonds A610 to A596~ inc!usive~ and'A595 to
A591, lnclusive~ shall be redeemed on June 1~ I965~ and ~hat
Crocker~Anglo National Bank~ successors to the AnglooCaltfornia
National Bank~ the Fiscal Agent under said Resolution Noo 75o55~
be and it ishereby authorized and directed toredeem said bonds
according to the terms of said bondsp and of said Reso!utionp at
the redemption price of one hundred three percent {103%) of their
principal ~mount~ upon presentation and surremder of such bonds~
and that the interest on said bonds hereinshore set forth to be
redeemed~ shall cease to accrue from and after June 1~ 1965o
That said Fiscal Agent is-he=shy authorized and directed
~o transfer into the Series A Sinking Fund from the Off-Street
Pa~king ~eserve 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 heroinabove set forth°
BE IT FURTaER RESOLVED that the Clerk is hereby directed
to publish Notice of Redemption twoice in The Bakersfield CaliEornian,
a daily newspaper of general circulation published in the Cit7 of
Bakersfield, Californias once a week for two successive week~ the
first publication to be not less than thirty (30) days prior to
~he redemption date~ and that a similar notice be also mailed to
the Fiscal Agent~ ~o the original purchaser of each series of
Bonds issued under'said'Resolution No, 75~55~ and also the respective
registered o~ners of any 'bonds designated for redemption at their
addresses appearing on the bond Fegistration books, at least
thirty (30) days prior to the redemption date,
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1[ MERE~Y C~RTIF~ ~ha~ ~he foregof~g Resolutfon w~s
p~ea ~na aaoptea by the C~cil of ~he C~ty of Bakersf~eld a~ ~
=e~lar meeting ~hereef he~d on the 2~th day of Apr~l~ 1965~ by
~he [e!low~ng vote ~
AYES: COUNCILMEN BALFANZ, DOOLIN, HOSKING, PARK, RUCKER, STIERN, WHITTEMOR[.
NoEs: COUNaLMEN:
Ass~N~ couNc~E~_~5
ABSTAINING COUNCILMEN:
A~PROVED~