HomeMy WebLinkAbout17292 - RESOLUTIONS - 10/3/1990RESOLUTION NO. 17202
OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS,
CALIFORNIA, ACCEPTING PURCHASE CONTRACT FOR SALE
OF BONDS
WIIFREAS, the CITY COUNCIL of the CITY OF PALM SPRINGS, 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 construction of certain public works of
i.mproverrtent, together with appurtenances and appurtenant work, in a special. assess-
ment district known and designated as ASSESSMENT DISTRICT NO. 750 (ANDREAS HILLS)
(hereinafter referred to as the "Assessment District"); and,
WHEREAS, in the Resolution of Lrtention it was determined and declared that bonds
should issue under the provisions of the "Improvement Bond Act of 191511, being
Dtvision 10 of the Streets and Highways Code of the State of California; arid,
WHEREAS, there has now been received, in proper form, a bond purchase contract (here-
tnafter the "proposal") for the purchase of said bonds to issue under said proceed-
inge, 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 a.11. true and correct.
SECTION 2. That this legislative body hereby accepts the proposal for the purchase
of the improvement bonds as submitted by STONE & YOUNGBERG, and makes an
award for the sale of the bonds at the interest rates and termn as sel
forth in the proposal as on file with the transcript of these ln:"coed-
ings and open for public inspection.
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.
ADOPTED this 3rd day of October , 19'30.
AYES: Councilmembers Broich, Hodges, Neel and Mayor Bono
NOBS:
ABSENT: Councilmember Murawski
ATT ST:
CTTY CLERK -CITY MANAGER
REVIEWED & APPROVED:
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