HomeMy WebLinkAboutCC Reso No 1989-37! ,
RESO~,UTION No. 89-37
RESOLUTION OF 7'HE CITY COUNCIL OF THE
CITY OF LAKE EISINORE, RIVERSIDE COUNTY,
CALIFORNIA, ACCEPTING A PROPOSAL FOR PUR-
CHASE OF BONDS AND MAKING OTf~R DETERMINA'
(ASSESSMENT DISTRICT NO. 89-1)
WHEREAS, the City Council heretofore instituted and
' conducted proceedings pursuant to the "Municipal Improvement Act
'--- of 1913", being Division 12 of the Streets and Highways Code, for
acquisition of certain work and improvements generally described
as fol3ows:
Acquisition of Summerhill Bridge; street,
storm drain and sanitary sewer improvements;
relocation of water mains; and appurtenances
and appurtenant work together with
incidental expenses in connection witli the
foregoing.
(•the "Improvements"); and
WHEREAS, the lands to be specially assessed for the
Improveinents shall be included within an assessment clistrict
designated as
ASSESSMENT DISTRICT NO. 89-1
(the "Assessment District"); and ~
WHEREAS, in the Resolution of Intention, it was determined
and declared that bonds representing unpaid assessments would
be issued under the "Improvement Bond Act of 1915", being
Division 10 of the Streets and Aighways Code (the "Bonds"); and
--.- WHEREAS, a proposal for the purchase of the Bonds has been
received and acceptance of this proposal will best serve the
Xnterests of the owners of land included with the Assessment
District:
NOW, THEREFORE, the City Council of the City of Lake
Elsinore does hereby RESOLVE, DETERMINE AND ORDER as follows:
SECTION 1 Recitals. The above recitals are all true and
correct.
SECTION 2. Acceptance of Proposal. The written proposal
received from
Wulff, xansen & Co.
for the purchase of the bonds representing rznpaid assessments
in the Assessment District is hereby accepted and approved.
SECTION 3. Conditions and Acceptance. The sale of the
bonds shall be subject to the terms and conditions set forth in~
(a) Accepted proposal;
/
(b) Resolution authorizing issuance of bonds;
(c) Resolution of intention; and
(d) Improvement Bond Act of 1915.
SECTION 4. Interest Rates and Maturities. The interest
rate (or rates) on the maturities of the Bonds is fixed at the
rate (or rates) and maturities as set forth in the accepted
proposal. •
~' .
~
SECTION 5. Authorization to Deliver Bonds. The Treasurer
is hereby directed to have the bonds printed and to have the
bonds signed and delivered to the purchaser upon receipt of the
amount of moneys due, pursuant to the proposal and upon the
compliance with all the conditions set forth herein.
SECTION 6. Certification. The City Clerk shall certify to
the passage and adoption of this resolution; shall enter the
same inithe book of original resolutions of the City; and shall
make a minute entry of the passage and adoption thereof in the
', record of the proceedings of the City Council and in the
- minutes of the meeting at which the same is passed and adopted.
SECTION 7. Effective Date. This resolution shall take
effect upon adoption.
PASSED, APPROVED AND ADOPTED this ~Inrl day of Aupust ,
1989.
AYES: COUNCILMEMBERS: BUCK, DOMINGUEZ, STARKEY, WASHBURN, WINKLER
NOES: COUNCILMEMBERS: fJONE
ABSENT: COUNCILMEMBERS: NONE
ABSTAIN: COUNCILMEMBERS: NONE
~~`
im Winkler, ayor
City of Lake Elsinore
2.
~7
am~r~sT .
vicki liynn K.asa , i y Clerk
City of La e El~inore
i..
', A p OVED. S FORM & LEGALITY:
Jo n R. Harper, C ty Attorney
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) SS:
CITY OF LAKE ELSINORE )
- 2, Vicki Lynne Kasad, City Clerk of the City of Lake Elsinore,
DO HEREBY CERTIFY that the foregoing Resolution duly adopted by the
City Counoil of the City of Lake Elsinore at a regular meeting of
said Council on the 22nd day of August, 1989, and that it was so
adopted by the following vote:
AYES: COUNCILMEMBERS: BUCK, DOMINGUEZ, STARKEY
WASHBURN, WINKLER
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: NONE
ABSTAIN: COUNCILMEMBERS: NONE
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) SS:
CITY OF LAKE ELSINORE )
I, Vicki Lynne Kasad, City Clerk of the City of Lake Elsinore,
DO HEREBY CERTIFY that the above and foreqoing is a full, true and
correct copy of Resolution No. 89-37 of said Council, and that the
same has not been amended or repealed.
DA1^iED: AugtlWt 23, 1989
~ ~1'~~V 1
r
~ C li~PY SAD, CITY CLERK
CITY OF E EL9INORE
. (SEAL.)
' Y Si~~ TY CLERK
(;ITY OF * KE ELS?NORE
(SEAL)