HomeMy WebLinkAboutReso 78-1989 RESOLUTION NO. 78-89
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION ACCEPTING BOND PURCHASE OFFER
FOR THE SERIES 1989-A IMPROVEMENT BONDS
FOR THE EL CAMINO PLAZA ASSESSMENT DISTRICT
WHEREAS, on this date, Kelling, Northcross & Nobriga, a
financiall consultant to the City, has presented to this Council,
a form of! offer (the "Offer") for the purchase of $ 597~504.00 par
value of iSeries 1989-A Limited Obligation Improvement Bonds (the
"Bonds") 'to be issued by the City in proceedings undertaken
pursuant ~to Resolution No. 145-88, Resolution of Intention,
adopted by this Council on December 14, 1988, from the firm of
Stone & Y0!ungberg (the "Underwriter"); and
WHEREAS, a copy of the Offer is on file with the City Clerk
of this City and reference is hereby made to the Offer for
further Particulars; and
WHEREAS, this Council has considered the Offer and finds it
acceptablie subject to the conditions set forth in this
resolution; and
WHEREAS, the public interest and convenience will be served
by accepting the Offer; and
NOW,i THEREFORE, BE IT RESOLVED by the City Council of the
City of Siouth San Francisco as follows:
1. iThe Offer is hereby approved and the Bonds sold to the
Underwriter at the interest rates set forth in the Offer.
2. The Finance Director of the City is hereby authorized
and directed to cause the bonds to be printed, authenticated and
deliveredi, all in accordance with the applicable terms of the
Offer and the Finance Director and other responsible City
officials! are hereby authorized and directed to take such actions
as are required under the Offer to complete all actions and to
execute aill documents required to evidence the delivery of the
bonds and the receipt of the purchase price thereof from the
Underwriter.
I hereby certify that the foregoing Resolution was regularly
introduced and adopted by the City Council of the City of South
San Francisco at a
14th day of
the following vote:
AYES:
NOES:
regular
June
meeting held on the
· 1989 by
Councilmembers Mark N. Addiego, Richard A. Haffey, Gus
Nicolopulos, and Mayor Rober~ta Cerri Teglia
None
ABSTAIN: None
ABSENT: C0uncilmember Jack Drag0
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