HomeMy WebLinkAboutRES NO 60-64 KESOLUTION NO. 60-64
RESOLUTION OF THE COUNCIL 'OF THE CITY' OF
BAKERSFIELD CALLING FOR THE REDEMPTION OF
SERIES'A .OFF-STREET REVENUE BONDS NOS. A626
TO A611~ INCLUSIVE; FOR PUBLICATION OF NOTICE
-OF.REDEMPTION OF SAID BONDS, AND AUTHORIZING
THE FISCAL AGENT TO REDEEM SAID BONDS. :'
.: WHEREAS, pursuant to Resolution No. '75'55 of the-Council
of the City of Bakersfield, adopted Noyember'14,.It955,.and pursuant
to'the'Charter of the City of'.Bakersfield,' and: in accordance with
the Constitution and laws. of the State..of California', t~e'City 'of
· .Bakersfleld did issue Certain Off~treet:Parking'Revenue Bonds
Series A, which were"duly. sold, and ~ : -.'..
WHEREAS, by said Resolution it i.s'specified that ·'Series
· A'Bonds'Nos. A176 toA880, both inclusive:, are redeemable 0nly in
reverse numerical Order from high tO lower' upon the determination
of the C'ouncil and upon notice of said'redemption, .and
WHEREAS, by said Resolution the City is obligated .to
'redeem'-.Series A bonds whenever there is money.inthe'Series A'Sinking
Fund on any october 10th or April 10~h in amounts.suffiCient t6
redeem 'at least $1,000.00 principal amount', and
WHEREAS, o~.0~t~b~rii0~ i964 there was sufficient money in
the Series A Sinking Fund to..red~em certain.bonds, and
· WHEREAS, it is the desire of the Council to c'all for the
redemption. of Series A Off-Street Parking Revenue Bonds Nos. A626
to A611,=inclusive, on December 1, 19.64..· '
NOW, THEREFORE, BE IT RESOLVED by.':[he Council of the City
0f. Bakersfield, as follows:
That said Bonds A626 to..A611, inclasive, shall b'e redeemed
on December.i, 1964, and that the Crocker-Anglo National Bank,
successors to the Anglo-California National Bank, the Fiscal'Agent
under said'Resolution No.'75-55,' be and it iS herebY!authOrized'
..and directed to"redeem said bonds according to the terms of said'
bonds, and of said Resolution, a~ theredemptionprice of one hundred
· three_percent (103%) of.their-principal.ambunt, up0n. presentat,i0n
and surrender of suchb0nds, and that the interest'on said 50nds
hereinab0ve set forth to-be redeemed,.shall dease to:accrue from
and after December 1, 1964.
That' said Fiscal Agent..iS hereby authorized ahd. directed.
'to transfer' int9 the Series A Sinking Fund from the Off-street
'Parking Reserve Fund,t~ny and all sums'.which ~ay b& necessary for
the' r'edempti0n of SKid bondS,' Should 's~id Series A sinking Fund'
be insufficientf0r. the.purposes hereinabove~'set forth.~
"BE.IT FURTHER RESOLVED that the C~e~k is her. eby directed
to publish Notice qf Redemption twice' in The:'Bak~r_sfi'~ld Californian,
.a daily newspaper of'general circulation published in.the City of
Bakersfield, California, once a week'for two'suCcessiVe~ weeks, the
first publication to be not tess.than,'thirt~ '(30) days prioF
thered~mptiondate', and that'asimilar notice be elso-ma'iled to-
the' Fiscal Agent,'to the original'purchaser'of.each series'of
'Bonds issued under Isaid Resolution'No..75'55, and also the respective'
registered owners of any bonds designated for redemption at their
addresses a~pearing on the bondregisjtration50oks, at least..
'thirty+ (30) days prior to the"redemption date'.
I HEREBY CERTIFY that
passed and' adopted by
the/f0r-egolng.',ResiSiution 'was' ','!'
'the Councilor%he City of]Bakersfield at a
regular meeting· 'thereof held on
f0 lloWing~ vote:
the' 19th day' 'bf OCto'ber,
1964~, by
CITY' ~ 1 k of '.the
Council o'f' the City of' Bakersfield.-
the
APPROVEp~'
.~YO R
APPROVED:
Cl'rY ATTORNEY