HomeMy WebLinkAbout82-039RESOLUTION NO. 82-39
RESOLUTION OF THE CITY COUNCIL ACCEPTING
PROPOSAL AND MAKING AWARD FOR SALE OF BONDS,
AND PROVIDING FOR THE ESTABLISHMENT OF A
REDEMPTION FUND FOR THE PAYMENT OF SAID BONDS.
WHEREAS, the CITY COUNCIL of the CITY OF SANTA ANA, CALIFORNIA (hereinafter
referred to as "Agency"), has heretofore instituted and conducted proceedings
under the terms and provisions of the "Municipal Improvement Act of 1913",
being Division 12 of the Streets and Highways Code of the State of California,
for the construction of certain public works of improvement, together with
appurtenances and appurtenant work, in a special assessment district known and
designated as
ASSESSMENT DISTRICT NO. 245
(hereinafter referred to as the "Assessment District"); and,
WHEREAS, said Agency in its Resolution of Intention therein determined and
declared that bonds should issue under the provisions of the "Improvement Act
of 1911", being Division 7 of the Streets and Highways Code of the State of
California; and,
WHEREAS, the Agency has now received, in proper form, a proposal for the
purchase of said bonds to issue under said proceedings and said proposal
received is, in the opinion of this Agency, considered to be the bid that
would best serve the interests of owners of land included within the
Assessment District and should be accepted by this Agency.
NOW, THEREFORE, IT IS HEREBY RESOLVED AS FOLLOWS:
SECTION 1. That the above recitals are all true and correct.
SECTION 2. That the written proposal and bid received from
STONE & YOUNGBERG
for the purchase of improvement bonds representing unpaid
assessments in said Assessment District is hereby accepted and
approved.
SECTION 3.
That said sale is subject to all the terms and conditions as set
forth in the previously approved Notice of Sale of said bonds and
in the accepted bid.
SECTION 4.
SECTION 5.
SECTION 6.
SECTION 7.
That the Treasurer be, and hereby is, directed to have the bonds
printed immediately upon the expiration of the cash collection
period, and said Treasurer shall then have said bonds signed and
delivered to said bidder upon receipt of the amount of monies due
pursuant to said bid and upon the performance of all the conditions
as set forth in the written offer.
That the interest rate or rates on said bonds be, and the same
hereby is fixed at the rate or rates as set forth in said accepted
bid proposal.
That the Treasurer is hereby authorized and directed to keep a
redemption fund designated by the name of the proceedings, into
which he shall place all sums received for the collection of the
assessments and the interest thereon, together with all penalties,
if applicable, thereon and from which he shall disburse such funds
upon presentation of proper coupons. Under no circumstances shall
the said bonds or interest thereon be paid out of any other fund
except as provided by law.
That said fund shall be known as
"REDEMPTION FUND FOR
ASSESSMENT DISTRICT NO. 245"
APPROVED and ADOPTED this 15 th
ATTEST:
COUN'CIL
A ANA
STATE OF CALIFORNIA
day of~
MAYOR ~'~
CITY OF SANTA ANA
STATE OF CALIFORNIA
-- EDWARD
City Attorney
STATE OF CALIFORNIA
COUNTY OF ORANGE
CITY OF SANTA ANA
I, JANICE C. GUY, CLERK TO THE COUNCIL of the CITY OF SANTA ANA, CALIFORNIA, DO
HEREBY CERTIFY that the foregoing Resolution, being Resolution No. 82-39
was duly passed, approved and adopted by said City Council, approved and signed
by the Mayor, and attested by the Clerk to the Council, all at the Regular
meeting of said City Council held on the 15 th day of March 1982 ,
and that the same was passed and adopted by the following vote: ~
AYES:
NOES:
ABSENT:
COUNCILMEN:Acosta, Bricken, Griset, Luxembourger, Markel,
McGuigan, Serrato.
COUNCILMEN:
COUNCILMEN:
EXECUTED this
15 th
day of Marcel982
, at Santa Ana, California.
CLERK TO THI~ COUNCIL ~
CITY OF SANTA ANA
STATE OF CALIFORNIA
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