HomeMy WebLinkAboutRES NO 33-63RESOLUTION NO. 33-63
RESOLUTION OF THE. COUNCIL OF 'THE CITY OF
BAKERSFIELD CALLING FOR THE REDEMPTION OF
SERIES A OFF-STREET PARKING REVENUE BONDS
NOS. A-673 TO A-661, INCLUSIVEj FOR PUBLI-
.CATION .OF NOTICE OF REDEMPTION OF SAID BONDSj
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 November' 14, 1955, and pursuant to
the 'Charter of the City .of BakerS field, and in accordance wi~h the
Constitution and laws of the state. of California, the City of'Bakers-
· field did 'issue certain Off-Street Parking ReVenUe Bonds Series A,
which w~re dul'y sold, and .. '. '
WHEREAS,. by said Resolution it is specified that Series A
Bonds/Nos.' A~673 to A-66t, both inclusive, are redeemable only in
reverse numerical order from high to lower upon the determination
'of .,the Council and upon notice of said redemption., and
WHERE-AS, by said Resolution the City is obligated .to redeem
Series A bonds whenever there' is money in the Series A Sinking
Fund'.on 'any October 10th or April lOth in amounts sufficient to
redeer~ at.least $1,000.00 'principal amount,' and
~WHEREAS, on April 10, 1962 there. was. sufficient money in
the Series A Sinking. Fund to redeem certain bonds, and
'WHEREAS, it is the 'desire of the Council to call for the
redemption of Series A Off-Street Parking Revenue Bonds"NoS'. A-673
to A-661,' inclusive, on June 1, 1963'.
NOW,. THEREFORE, BE IT RESOLVED 'by the Council Of the City
of BakerSfield, as follows:
on June 1, 1963, and' that the Crocker-Angio 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 .~o·' redeem said bonds according t'o 'the terms of'said bonds,
'and of said Resolution, at the redemption ~rice of one hundred
three·'and twenty-five one hundredths percent (103.25%).of their
'prinCipal.amount, upon ·presentatiOn and surrender of such bonds,
· and.that the interest on said bonds he~einabove set fo'rth to be
redeemed, .'shall cease to:'accrue from and'after June 1, 1963,
" · 'That said Fiscal Agent is hereby auth'orized and diredted
to transfer into the Series A 'Sinking Fund from the Off-Street
Parking ReServe Fund, any and all sums which may be necessary for
the redemption of said bonds, shouldTSaid Series~ A Sinking Fund
be .insufficientf0r the purposes 'hereinabove 'set f6rth. '..'
o0o
i HEREBY CERTIFY'that the foregOing. Resolution was
passed and adopted by the Council of the City of Bakersfield at a
regular meeting thereof held on the 29th da'y of'April;. 1963.,"by'
the Ifollowing vote:
ABSENT:
AYES,, BALFANZ, CROES, DOOLIN, MARCHBANKS, MOSSMAN, RUCKER, STJE~N
NOES: ~ ..... '~ '-
AlLSTAINING; ~' ' ..r~-,-"~ ,t:~'-- .,,~:~:,, _~-, .... ~~---::' '~-~ '
.an Ex-Officio Clerk of the
CT
I
: .,'Cpunci_l._~,f,' ~th~.',_,.C~, t_X, P,f_ Bake.r_S..fie,,l~:_
MA ~g~'the' Ci~of Bakersfield.