HomeMy WebLinkAboutRES NO 87-63 RESOLUTIO'N N0._.87_-63
A RESOLUTION 'RESCINDING RESOLUTION NO. 84-63
AND. CALLING.'FOR THE REDEMPTION OF SERIES A
OFF-STREET PARKING REVENUE BONDS NOS. 'A-'660
· TO A-645, INCLUSIVE; FOR PUBLICATION 'OF NOTICE
OF -REDEMPTION. OF SAID BONDS; AND AUTHORIZING
THE FISCAL 'AGENT TO REDEEM SAID BONDS.
WHEREAS, Resolution No..84~.6'3 called for a redemption
'price of one. hundred three and twent-y--five one hundredths percent
(103.257o) ,' .wherein. the correct redemption price is one ,hundred'
.three percent·(103%), and
.... : WHEREAS, pursuant to Resolution No. 75-55 of 'the Coun~it
o'~. the.:Ci.ty.6f Bakersfield, adopted~.November 14, 1955, and pursuant
to the Charter of the City of Bakersfield, and in accordance wi-th
the ConStitution .and laws of the State of California, the City of
~:Bakersfield ·.did issue' certain Off-Street Parking ReVenue Bonds.~
series A,-which were 'duly sold,' .and
WHEREAS, by said ·.ResolUti0n it is-, specified that Series A.
Bonds Nos. A-660 to A-645, both inclusive, are redeemable only in.
· reverse numerical order from high .to low.er. upon the determination
of the Council and upon notice. of said..redemption, and
WHEREAS, by said' Resolution the City is ~bligated to
reae'em Series A bonds whenever there is money. in the. Series A
Sinking Fund'.. on .any October 10eh o~ April 10th in amounts sufficient
to redeem at"least $1,000.00 principal amount, and
WHEREAS, on October iO, 1963 there was'.. sufficient ·money
, in the Series A Sinking Fund to redeem' .Certain . bonds , and' "
'~:' ~. WHEREAS, it is the desire..0'f .the' council· .t.o' call for the
· ' redemption 61f Series A Off-Street.'Park{ng ReVenue Bonds ~Nos.. A-660.
,~to 'A~645, inclusive,·, on Decembe~ 1~' 1963. !: .... ': '. '._._._~.. .........
N6W, THEREFORE, BE IT RESOLVED'by. the 'CoUncil of the ·City
Of Bakersfield,' as follows: '~..· '
,. That said Resolution No. 84-63 is hereby rescinded, and
?',, .
.,-='... That said Bonds A~660 to'k~645'~' inclus~ ,~aii be'-
redeemed On December 1.1963,.and that'the Crock~r-Angto NatiOnal"
Bank.,.succe.s'so~s'to the AngtO-Galif~rnia~National Bank,.t~e 'FiScal
Agent'.un~er said Re'solution"N0, 7.5-'55,".be~and it is ~e~eby-.aUth0riz~
and directed .to'-redeem said ~onds ac~0rdin~g to the" terms" of ~aid
bonds and ofI s~id Resolution, at the ~·redemption price(.~.of one
hundred three percent (i0~%) of ~heir p·rincip~l amount, Upon
,presentation and' surrender 6f such b~ndS'~;/ana tha~.~the~in~terest
.on ~'said ..bonds h~reinabove set'.forth to 'be ~/~ede~med~ shall cease
t·o accrue ·from and after December 1'~: 1963, :
: That said FiSCal Agent is'here~y authOrized'and directed.
.to ~ranSfer into ·'the Series A 'Sinking-· Fund' from the' Off-Street
Parking 'Reserve .Fhnd, any and all sfun~ Whi:ch may./be'-ne~cessary, for-
the redemption of said bonds, .should sai'd Series A Sinkfng:Fuhd
'insUffiCient for ~he purposeS..~hereinab6Ve"':~elt 'forth..
I HEREBY."CERTIFY that-the' foregoing Resolution was
passed and adopted by the Council" Of 7the .City of BakerSfieId i~t a
~..regUlar meeting thereof'held on:the'12th day of NoVember, ~963, by
the'. following vote:
~,,AARCHBA'I, IK,~.,..M6SSM;~N~. RUCKER, STI1ERN.,, WHrTTe:MOP, F-
CI~TY{L~-"K'and ExTOfficio Clerk of the
Council of the City of Bakersfield~