HomeMy WebLinkAboutReso 1991-16291 RESOLUTION NO. 16291
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA MAKING AWARD FOR SALE OF BONDS, AND PROVIDING FOR
THE ESTABLISHMENT OF A REDEMPTION FUND FOR ASSESSMENT
DISTRICT NO. 90-3 (EASTLAKE GREENS)
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. 90-3
(EASTLAKE GREENS) (hereinafter referred to as the "Assessment District"); and,
WHEREAS, in the Resolution of Intention it was determined and declared that
bonds should be issued 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:
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:
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. 16291
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 ~ as t rm by
John ~~ ~
Resolution No. 16291
Page 3
PASSED, APPROVED and ADOPTED by the City Council of the City of Chula
Vista, California, this 6th day of August, 1991, by the following vote:
AYES: Councilmembers: Grasser Horton, Malcolm, Moore, Nader,
Rindone
NOES: Councilmembers: None
ABSENT: Councilmembers: None
ABSTAIN: Councilmembers: None
Tim Nader, Mayor
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. 16291 was duly passed, approved,
and adopted by the City Council held on the 6th day of August, lg91.
Executed this 6th day of August, lg91.
~Authelet, Cit~ Clerk