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HomeMy WebLinkAbout4705 RESOLUTION NO. 4705 RESOLUTION OF THE CITY COUNCIL CALLING FOR BIDS ON BONDS TO BE ISSUED TO REPRESENT UNPAID ASSESSMENTS UPON ~DS IN AN ASSESSMENT DISTRICT. CITY OF ARCADIA WHEREAS, in accordance with 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, and pursuant to Resolution of Intention No. 4661 adopted the 20th day of SEPTEMBER, 1977 , proceedings were initiated for the con- struction of certain public works of improvement, including appur- tenances, appurtenant work and acquisition, where necessary, in a special assessment district known and designated as ASSESSMENT DISTRICT NO. 76-1 (CENTRAL AREA STREET AND PARKING IMPROVEl-lENTS) (hereinafter referred to a~ the "Assessment District"); and, WHEREAS, said City Council has determined that serial bonds shall be issued to finance the costs and expenses of said improvements and proceedings, pursuant to and as set forth in the "Improvement Bond Act of 1915", being Division 10 of the Streets and Highways Code of the State of California. NOW, THEREFORE, IT IS HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF ARCADIA CALIFORNIA, AS FOLLOWS: SECTION 1. That the above recitals are all true and correct. SECTION 2. That this City Council does hereby call for sealed bids on the bonds proposed to be issued, to be received up to the time specified in the Notice of Sale hereinafter set forth. SECTION 3. That this City Council hereby selects and specifies as' the"date of the bonds representing assessments against private property, the date specified in the Notice of Sale for that purpose, said Notice of Sale attached hereto and made a part hereof; said date is JANUARY 29. lc}78.. SECTION 4. That the Notice of Sale relating to the sale 'of the assessment bonds for the above referenced Assessment Dist- rict is hereby approved and adopted by this City Council, and a copy of said Notice is on file in the Office of the City Clerk of said,City. SECTION 5. That the City will provide, at no expense to the bidder, the unqualified legal opinion of F. MACKENZIE BROWN, Attorney at Law, attesting to the validity of the proceedings and the enforceability of the bonds; a copy of said opinion to be printed on each bond. SECTION 6. That this City Council hereby directs STONE & YOUNGBERG MUNICIPAL FINANCING CONSULTANTS to mail copies of the approved Notice of Sale to all persons so determined to be prospective purchasers and interested in bidding on the bonds to be issued for these proceedings, said bonds to be issued pursuant to the provisions of the "Improvement Bond Act of 1915", being Division 10 of the Streets and Highways Code of the State of California. SECTION 7. That the official statement and bond pros- pectus for these proceedings, as prepared by STONE & YOUNGBERG MUNICIPAL FINANCING CONSULTANTS and as presented to this City Council is hereby approved and adopted. A copy of said official statement shall be mailed, toge- ther with the Notice of Sale, to all persons determined to be in- terested in said purchase. Further, a copy of said official statement and bond prospectus shall be on file in the Office of the City Clerk and open for public inspection. APPROVED and ADOPTED this 3rd MAYOR CITY STAT 1978 . ARCADIA OF CALIFORNIA ~~l~ CITY CLERK CITY OF ARCADIA STATE OF CALIFORNIA STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES) ss. CITY OF ARCADIA ,) I, CHRISTINE VAN /,iAANEN , City Clerk of the City of ARCADIA , CALIFORNIA, DO HEREBY CERTIFY that the foregoing Resolution, being Resolution No. 4705 was duly passed, approved and adopted by said City Council, app- roved and signed by the ~layor, and attested by the City Clerk" all at a regular meet Lng of said City Council held on the 3rd day of . January, 1978 , and that the same was passed and adopted by the following vote, to-wit: AYES: COUNCIL, MEMBERS Gilb, Lauber, Margett, Parry and Saelid COUNCIL MEMBERS None NOES: ABSENT: COUNCIL, MEMBERS None DATED this 3rd day of January. 1978 ~7J(bN~ CITY CLERK CITY OF ARCADIA STATE OF CALIFORNIA (SEAL)