HomeMy WebLinkAboutRES NO 63-62RESOLUTION NO. 63-62
RESOLUTION OF THE COUNCIL OF THE CITY OF
BAKERSFIELD CALLING FOR THE REDEMPTION OF
SERIES A OFF-STREET REVENUE'BONDS NOS. A691.
.TO A686,~ INCLUSIVE, AND NOS. A682 TO A674,
INCLUSIVE; FOR PUBLICATIONOF 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 NOvember 14, 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-Street Parking Revenue Bonds
Series A, which were duly sold, and
WHEREAS, by said Resolution it is specified that Series
A Bonds.Nos. A176 to A880, both inclusive, are'redeemable 0nly in
reverse n~merical order from high to. lower ~pon the determination
of the Council and upon notice.~f said redemption, and
WHEREAS, it is the desire of the .Council to call '·for the
redemption of Series A Off-Street Parking Revenue Bonds Nos. A691
to A686, inclusive, and Nos. A682 to A674, inclusive, on December 1,
1962.
.NOW, THEREFORE, BE 'ITRESOLVED by the Council Of the City'
of Bakersfield, as follows:
That said Bonds. A691 tO A686, inclusive, and A682 to
A674~ shall be· redeemed on December 1, 1962,. 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 to redeem said bonds according
to the terms of said bonds, and of said Resolution, at the
redemption price 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
hereinabove set forth to be redeemed, shall cease to accrue from
and.after December 1, 1962.
That said Fiscal Agent ~s hereby"authorized and directed
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, should said Series A Sinking Fund
be insufficient for the purposes hereinaboVe set forth.
-' BE IT FURTHER RESOLVED that the Clerk-iSi·hereby directed
to publish Notice of,Redemption Itwice in The'Bakers. field Californian,
a daily newspaper of general circulation published in the 'City of
Bakersfield,'California, oncea weekflr two successive weeks, the
first publication to be·not less than 'thirty (30). days prior to
the ~edemption' date, and that a similar no.tice be. also mailed to
the Fiscal' Agent, to the original purchaser of each series of
Bonds. issued under said Resolution No. 75-55,.and also the respective
registered owners of any bonds designated for redemption'at. their
addresses appearing on the bond'registration books at least
thirty (30) days prior to the redemption'da6e.
o0o -
I HEREBY CERTIFY that the foregoing 'Resolution was
passed and adopted by the Council of the City of Bakers field at a
regular meeting thereof held 'on the 15th day of October,' '1962, by
the following vote:
E o
CITY LE and. x-Offici 'Clerk of the
Council of the City of Bakersfield.
15th day of October, 1962.
City of Bakersfie .