HomeMy WebLinkAboutRES NO 52-61RESOLUTION N0."52-6~,
RESOLUTION OF THE COUNCIL OF THE CITY 'OF
BAKERSFIELD CALLING FOR THE' REDEMPTION OF
SERIES A OFF-STREET PARKING REVENUE BONDS
NOS. A-7,35 TO A-718, 'INCLUSIVE; FOR PUBLI-
CATION 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 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 0ff-StreetParking ReVenue Bonds
Series A, which were duly sold, and
WHEREAS, by said Resolution it is specified that Series A
Bonds Nos. A-176'to A-880, 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
WHEREAS, by said Resolution the City is obligated to
redeem Series A bonds whenever there is mon, ey in the Series A
Sinking Fund on any October lOth or April lOth in amounts sufficient
to redeem at least $1,000~'00 principal amount,
~d]EREAS, on 'April 10, '..1961', there was ~sUfficient money.
i!I} the Series A Sinking Fund to redeem certain bonds, and
· ' WHEREAS, it is the desire 'of the Council-to. call fop the
redemption of Series A Off-Street Parking Revenue Bonds Nos. A-735
s·
to .A-71 , inclusive,' on June 1, 1961..
.. . NOW, THEREFORE., BE IT RESOLVED by the Council of the City
of Bakersfield, as follows:
That' said Bonds A-735 to A-718, inclusive, shall be re-
deemed'on June 1, 1961, 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-ib-ishereby~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 fifty one hundredths percent (103.50%)' of 'their principal mount,
'upon presentation and surrender of such bonds, and that the interest
on said .bonds hereinabove set forth to be redeemed, .sbail' cease to
accrue from and after June 1, 1961.
That said Fiscal Agent is 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.
........ 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 15th day of May, 1961, by the following
vote:
AYES: BALFANZ, COLLINS, C,n, CZ5, DOOLIN, MARCHBAN~(S MOSSMAN, STIERN
· .
ABSTAINING~_ ~ ,_.
City-C::le~:~'Jt ~:c~ '~7,.-'~ff*{o~ the
-~::~,~- ....to .~ Council of the City of Bakersfield,
/ APP,~OVEn~':tht'~::k~t.~'day of May, 1961.
~ ~' ~.. ~ ~'~, '.~ ~ ~ :' ~ ~. ~ '~:: ·. . ·
, ' L .' "= ~ ,,'~:: ' ;~"' ' ' + ' '