HomeMy WebLinkAboutRES NO 37-68RESOLUTXON NO o... 3
A RESOLUTION OF THE COUNCIL OF THE CITY OF
BAKERSFIELD CALLING FOR THE REDEMPTION OF
SERIES A OFF~STHEET REVE~3E BONDS NOSo A527
TO A522 ~ INCLUSIVE; FOR PUBLICATION OF
NOTICE OF REDE~iON OF SAID BONDS~ AND
ADTMOR.~Z~NG THE F~SCAL AGENT TO REDEEM SAID
BONDS.
WHEREASs pursuant to Resolution No, 75-55 of the Council
of ~he Cl~y of Bakerafield~ adopted November 14.~ 1955s and pursuant
to ~he Charter of the City of Bakersfield~ and in accordance with
the Cone~itution and hws of the $~ate of Californias the City of
~kerefield did issue certain Off~Stree~ Parkina Revenue Bonds
Series A~ which were duly sold~ and
~~S~ by said Resohtion it is specified that Series
A Bonds Nos, A527 to A522~ both inclusive~ are redeemable only in
reveres n~erical order from hiEh ~o lower upon the detemination
of ~he Co~cil and upon notice of said redemption~ and
~~$~ by said Resolution the City iS obligated ~o
~edeem Series A bonds whenever there ts money in the Series A Sinkin
F~d on any October 10th or April 10th in amounts sufficien~ to
~edeem at least $1,000~00 principal amount~ and
M~ on April. 10, 1968 there ~vas sufficient money in
the Series A Sinkins Fud to redeem certain bonds~ and
~~S~ it is the desire of the Council ~o call for the
~ede~tion of Series A Off-Street Parkins Revenue Bonds Nos,. A52F
~o A522~ inclusive, on June 1~ 1968,
N~m T~PIFO~ BE IT MSOLVED by the Council of the City
of Bakersfield~ as follows:
............. Tha~_ said Bonds_ .A52jZ_ to_A52~,_ in~.~%aiv_e_,. _shal_l~_e__red~ed
on J~e 1, ~968~ and t~t the Crocker-Cltizens National Bank~
successors to the ~glo-Califo~ia National Bank, the Fiscal Agent
under said ~aolu~ion No~ 75~55~ be end it is hereby autbrized
and directed to redeem said bonds according to ~he tams of said
bonds~ an,it of said Resolution~ at the redemption price of one h%mdred
~o percent (102%) of their principal amoullt~ upon presentation
and surrender of such bonds~ and that the interest on said bonds
heroinabove set forth to be redeemed~ shall cease to accrue from
~nd after june i~ 1968o
That said Fiscal Agent is hereby authorized and directed
to transfer into the Series A Sinking Fund from the Off°Street
ParkthE 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 heroinabove set forth,
BE IT FbITMER RESOLVED that the Clerk is hereby directed
~o publish Notice of Redemption t~lce in The Bakers fleld Califo~nian~
a daily newspaper of general circulation published in the City of
Bakersfield~ California~ once a week for two successive x4eeke~ the
first publication to 'be not less than thirty (30) days prior to
the redemption date~ and that a similar notice be also mailed to
~he Fiscal Agent~ to the original purchaser of each series of
Bonds issued under said Resolution No, 75~55~ and also ~he respective
registered owners of any bonds designated for redemption at' their
addresses app. earing on the bond registration books~ at least
thirty (30) days prior to ~:he redemption date,
......... 000 .........
IREREef CERTIFY that the fo=egoing Resolution waa
pa~sed and adopted by the Council of the City of Bakersfield a~ a
=eEuXar meeting thereof held on the 22nd day of April, 1968~ by the
follo~fn~ vo~e=
AYES: COUNC LMEN m=,=,,=av HOSKING REES. II~t~I~i;R. STIERN. VEll'ER, WHITTEMORE
NOES: COUNCILMEN:/7~.¢~L~
ABSENT COUNCILMEN: ~ ~/~j_..~}./_,.~ _,~
ABSTAINING COUNCILMEN: j~,, ~
Marjan So Irvln
Ceuncil of the City of Bakersfield
APP~OVED: