HomeMy WebLinkAboutReso 1991-16196 RESOLUTION NO. 16196
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF .CHULA
VISTA, CALIFORNIA, MAKING AWARD FOR SALE OF BONDS, AND
PROVIDING FOR THE ESTABLISHMENT OF A REDEMPTION FUND FOR
ASSESSMENT DISTRICT NO. 88-1
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. 88-1 (OTAY LAKES ROAD, PHASE I) (hereinafter referred to as the
"Assessment District"); and,
WHEREAS, i n the Resolution of Intention it was determined and declared
that bonds should be issued under the provisions of the "Im rovemerit Bond Act
of 1915", being Division lO of the Streets and Highways Co~ of the of
State
California; and,
WHEREAS, there has now been received, in proper form, a sealed bid
(hereinafter the "proposal") for the purchase of said bonds to be issued under
said proceedings, which isconsidered 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:
Prudential-Bache
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. 16196
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 Approved i to f rm~
Boogaar. '
John pp
Director of Public Works City Attorne
Resolution No. 16196
Page 3
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula
Vista, California, this llth day of June, lggl by the following vote:
AYES: Councilmembers: Moore, Nader, Rindone
NOES: Councilmembers: None
ABSENT: Councilmembers: Malcolm
ABSTAIN: Councilmembers: None
Leonard M.
Mayor, Pro-Tempore
ATTEST:
Beverly Ay/ Authet et, 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. 16196 was duly passed,
approved, and adopted by the City Council held on the llth day of June, 1991.
Executed this llth day of June, 1991.
Beverly A~ Authelet, City Clerk