HomeMy WebLinkAboutReso 1992-16687 RESOLUTION NO. 16687
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA, CALIFORNIA, MAKING AWARD FOR SALE OF BONDS IN
ASSESSMENT DISTRICT NO. 91-1 (TELEGRAPH CANYON ROAD,
PHASE II)
WHEREAS, the City Council of the City of Chula Vista, California, 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 installation of certain public
works of improvement, together with appurtenances and appurtenant work, in a
special assessment district known and designated as ASSESSMENT DISTRICT NO. 91-1
(TELEGRAPH CANYON ROAD, PHASE II) (hereinafter referred to as the "Assessment
District"); and,
WHEREAS, in the Resolution of Intention it was determined and declared that
bonds should issue under the provisions of the "Improvement Bond Act of 1915",
being Division 10 of the Streets and Highways Code of the State of California;
and,
WHEREAS, there has now been received, in proper form, a sealed bid
(hereinafter the "proposal") for the purchase of said bonds to issue under said
proceedings, which is considered to best serve the interests of owners of land
included within the Assessment District and should be accepted.
NOW, THEREFORE BE IT RESOLVED AS FOLLOWS:
SECTION 1. That the above recitals are all true and correct.
SECTION 2. That this legislative body hereby rejects all of said
proposals for the sale of bonds except that herein mentioned,
and does hereby make an award and accept the proposal for the
purchase of the improvement bonds from the responsible bidder,
to-wit:
Prudential Securities, Inc.
at the interest rate and terms as set forth in the proposal of
said bidder as on file with the transcript of these
proceedings and open for public inspection.
Resolution No. 16687
Page 2
SECTION 3. That said sale is subject to all the terms and conditions as
set forth in the Resolution of Issuance, in the Bond Indenture
in its final form, and in the accepted proposal.
Presented by Approv d as to rm by
ohn P~rLi~ppi~/tYt~/b')~/~ Bruce ". Boogaard \
of Public Works City Attorney~
Resolution No. 16687
Page 3
PASSED, APPROVED and ADOPTED by the City Council of the City of Chula
Vista, California, this 23rd day of June, 1992, by the following vote:
YES: Councilmembers: Grasser Horton, Moore, Rindone
NOES: Councilmembers: None
ABSENT: Councilmembers: Malcolm, Nader
ABSTAIN: Councilmembers: None
O-TpOr
ATTEST:
Beverly A/. Authelet, City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO ) ss.
CITY OF CHULA VISTA )
I, Beverly A. Authelet, City Clerk of the City of Chula Vista, California, do
hereby certify that the foregoing Resolution No. 16687 was duly passed, approved,
and adopted by the City Council held on the 23rd day of June, 1992.
Executed this 23rd day of June, 1992.
Beverl~Authelet, City Clerk