HomeMy WebLinkAboutReso 1990-15541 RESOLUTION NO. 15541
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA, CALIFORNIA, MAKING AWARD FOR SALE OF BONDS, AND
PROVIDING FOR THE ESTALBISHMENT OF A REDEMTPION FUND
WHEREAS, the City Council of the City of Chula Vista, 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 Calfornia, for the acquisition of certain public
works of improvement, together with appurtentances and appurtenant work work,
in a special assessment district known and designated as Assessment District
No. 88-2 (Otay Lakes Road) (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, IT IS HEREBY 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:
BATEMAN EICHLER HILL RICHARDS, 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.
SECTION 3. That said sale is subject to all the terms and conditions
as set forth in the Resoluiton of Issuance, in the Bond
Indenture in its final form, and in the accepted proposal.
Present by: Approved as to form by:
Jo ppitt Ruth M. Fritsch
Director of Public Works Assistant City Attorney
Resolution No. 15541
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula
Vista, California, this 6th day of March, 1990 by the following vote:
AYES: Councilmembers: Malcolm, Moore, Nader, McCandliss
NOES: Councilmembers: None
ABSENT: Councilmembers: Cox
ABSTAIN: Councilmembers: None
ATTEST:
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. 15541 was duly passed,
approved, and adopted by the City Council of the City of Chula Vista,
California, at a regular meeting of said City Council held on the 6th day of
March, 1990.
Executed this 6th day of March, 1990.
ev~y A~uthelet, Cit~e~rk