HomeMy WebLinkAboutRES NO 74-61RESOLUTION NO. ~, 74-6%'
A RESOLUTION OF THE COUNCIL OF THE CITY OF
BAKERSFIELD AUTHORIZING THE FISCAL AGENT TO
WITHDRAW CERTAIN FUNDS FROM THE SURPLUS
REVENUE FUND AND TO APPLY THE SAME TO THE
PURCHASE OF BONDS AT PRIVATE SALE.
WHEREAS, Stone & Youngberg has offered to the City three (3) one
thousand dollar par value ($1,000.00) City of Bakersfield Off-Street
Parking Bonds at a price of ninety-one dollars per one hundred dollars
valuation plus accrued interest to August 1, 1961, and
WHEREAS, Resolution No. 75-55 authorizing the issuance of City
of Bakers field Off-Street Revenue Bonds provides in Section 5.08(6)
"Surplus Revenue Fund" that as directed by Resolution of the City,
funds may be transferred from the Surplus Revenue Fund to be applied
by the Fiscal Agent to the purchase of Bonds at private sale whereby
such Bonds purchased shall be cancelled, and
WHEREAS, it is in the public interest to retire the Off-Street
Parking Bonds whenever possible and whenever it appears that such
retirement is beneficial to the City and to the Bondholders,
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of
Bakersfield, that the Fiscal Agent, Crocker-Anglo National Bank, No. 1
Sansome Street, San Francisco 20, California, be and is authorized to
transfer two thousand, seven hundred thirty dollars ($2,730.00) from
the Surplus Revenue Fund and sixteen dollars and twenty-five cents from
the Interest Fund and the Fiscal Agent is hereby authorized to apply
said funds to the purchase of three Off-Street Parking Bonds as offered
for sale by Stone & Youngberg, Investment Securities.
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 24th day of July, 1961, by the following vote:
AYES: BALFANZ, COLLINS, CROES, DOOLIN, MARCHBANKS, MOSSMAN, STII"RN
NOES: ~
ABSENT: ~
ABSTAIN I NG~ --'
Council of the City of Bakers field.
APP~~~.~.~;~h~ ~%.h. day of July, 1961
R'of the CityM~ of'Bakers field.