HomeMy WebLinkAboutReso 1992-16754 RESOLUTION NO. 16754
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA, CALIFORNIA, MAKING AWARD FOR SALE OF BONDS IN
ASSESSMENT DISTRICT NO. 90-1 (SALT CREEK I)
WHEREAS, the City Council of the City of Chula Vista, California, has
heretofore instituted ~nd 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 app~rtenant work, in a
special assessment district known and designated as ASSESSMENT DISTRICT NO. 90-1
(SALT CREEK I) (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 I of the Streets and Highways Code of the State of California;
and,
WHEREAS, there has now been received, pursuant to a duly publicized notice
of sale and in proper form, a sealed bid (hereinafter the "proposal") for the
purchase of said bonds to issue under said proceedings, which is considered to
be the highest bid (i.e., the lowest net interest cost) and 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 true and correct.
SECTION 2. That this legislative body hereby rejects other proposals for
the sale of bonds and does hereby make an award of the sale of
the bonds to, and accept the proposal for the purchase of the
improvement bonds from, the highest, responsible bidder, to-
wit:
Prudential Securities
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. 16754
Page 2
SECTION 3. That said sale is subject to all the terms and conditions set
forth in the Resolution of Issuance, in the Bond Indenture in
its final form, and in the accepted proposal.
Presented by Approved as to form by
Joh P. Li t Ruth M. Fritsch
Dir f Public Works Assistant City Attorney
Resolution No. 16754
Page 3
PASSED, APPROVED and ADOPTED by the City Council of the City of Chula
Vista, California, this 11th day of August, 1992, by the following vote:
YES: Councilmembers: Horton, Rindone, Nader
NOES: Councilmembers: None
ABSENT: Councilmembers: Malcolm, Moore
ABSTAIN: Councilmembers: None
Tim Nader, Mayor
ATTEST:
Beverl~A. A~thelet, 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. 16754 was duly passed, approved,
and adopted by the City Council held on the 11th day of August, 1992.
Executed this 11th day of August, 1992.
ever~y~.Aut~elet, City Clerk