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)