HomeMy WebLinkAboutCity Council Resolution 888-P2699A-113a WMAM:PDA:rva 05/10/79 12c
RESOLUTION NO. 888-P
A RESOLUTION APPROVING AND ESTABLISHING INTEREST RATE
VILLAGE PARKING DISTRICT NO. 2
ASSESSMENT DISTRICT
RESOLVED, by the City Council of the City of Saratoga,
California, that
WHEREAS, this Council has received a written offer from Stone
& Youngberg to purchase.the bonds to be issued to represent the
unpaid assessments in proceedings taken pursuant to Resolution of
Intention No. 888-D, adopted by this Council on January 3, 1979;
WHEREAS, said written offer was accepted by said Council and
said bonds were ordered sold to Stone & Youngberg subject to all of
the terms and conditions set forth in said written offer dated
November 13, 1978, all as provided in its Resolution No. 888-H, A
Resolution Awarding Sale of Bonds, adopted on January. 3, 1979;
WHEREAS, said written offer provided that the final interest
rate which said bonds are to bear would be determined at least
thirty (30) days before the actual issue date subject to being
mutually agreed upon on the basis of the market at that time; and
WHEREAS, by letter dated April 20, 1979, from said Stone &
Youngberg the interest rate, total amount of the bond issue and the
maturity schedule have been presented to this Council for its
consideration and approval;
NOW, THEREFORE, IT IS ORDERED, as follows:
1. That the interest rate, total amount of the bond issue
and the maturity schedule set forth in said offer from Stone &
Youngberg dated April 20, 1979, be, and it is hereby approved.
2. That the final interest rate as set forth therein be, and
it is hereby, approved and established as the interest rate for all
bonds to be issued in said proceedings to represent the unpaid
assessments.
3. That the City Treasurer is hereby directed to cause said
bonds to be prepared in accordance with proceedings therefor and
that the same be executed and delivered to said purchaser upon
receipt of the purchase price therefor, and upon the performance of
the conditions stated in said written offers.
I hereby certify that the foregoing is a full, true and
correct copy of a resolution duly passed and adopted by the City
Council of the City of Saratoga, California, at a meeting thereof
held on the 16th day of May, 1979, by the following vote of the
members thereof:
AYES, and in favor thereof, Councilmen:
Kalb, Matteoni, Callon, Kraus & Corr
NOES, Councilmen: None
ABSENT, Councilmen: None
City Clerk' of tHe'~S~X~ Saratoga
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