HomeMy WebLinkAbout17420 - RESOLUTIONS - 2/6/1991 RESOLUTION NO. 17420
OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS,
CALIFORNIA, APPROVING BOND PURCHASE CONTRACT AND
OFFERING MEMORANDUM
WHEREAS, the CITY COUNCIL of the CITY OF PALM SPRINGS, CALIFORNIA, has heretofore
undertaken proceedings pursuant to the "Municipal Improvement Act of .1913", being
Division 12 of the Streets and Highways Code of the State of California, and has
confirmed assessments upon lands within a special assessment district described in a
Resolution of Intention previously adopted for said improvements, said special
assessment District known and designated as ASSESSMENT DISTRICT NO. 159 (hereinafter
referred to as the "Assessment District") ; and,
WHEREAS, said proceedings provided for the issuance of bonds pursuant to 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 presented for consideration by this legislative body a
Bond Purchase Contract; and,.
WHEREAS, there has also been presented for consideration by this legislative body an
offering Memorandum containing information including but not limited to the
Assessment District and the type of bonds, including terms and conditions thereof.
NOW, THEREFORE, IT IS HEREBY RESOLVED AS FOLLOWS:
SECTION 1 . That the above recitals are all true and correct.
SECTION 2. That the Bond Purchase Contract submitted by STONE & YOUNGBERG is hereby
approved and accepted, and the City Manager is authorized to execute the
contract on behalf of the City.
SECTION 3. The Offering Memorandum, as prepared and submitted by Stone & Youngberg, w
is hereby approved and adopted, and the execution and distribution is
hereby authorized. A copy of said Offering Memorandum shall be kept on
file with the transcript of these proceedings and remain open for public
inspection.
ADOPTED this 6th day of February , 1.991.
AYES: Councilmembers Broich, Hodges, Murawski , Neel and Mayor Bono ,
NOES: None
ASSENT: None '
ATTEST:
CITI_CLERK y'-),., CITY MANAGER
J ,
REVIEWED & APPROVED: f \