HomeMy WebLinkAbout1986 081 CC RESO1986 081 CC RESO ;¢fì ø { RESOLUTION NO. 86-81
RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF BALDWIN PARK AWARDING THE
$1,625/000 CITY OF BALDWIN PARK
IMPROVEMENT BONDS, DELTA ASSESSMENT
DISTRICT/ NO. 86-2 TO SMITH BARNEY,
HARRIS UPHAM & CO., INC.; APPROVING
CERTAIN OTHER DOCUMENTS IN CONNECTION
THEREWITH; AND AUTHORIZING BOND COUNSEL
AND OTHER PARTIES TO TAKE SUCH ACTIONS
TO COMPLETE THE ISSUANCE, SALE AND
DELIVERY OF SUCH BONDS.
WHEREAS, the City of Baldwin Park the City") has
heretofore adopted Resolution No- 86-80 on August 27, 1986
the Resolution of Issuance"), authorizing the issuance of
improvement bonds designated City of Baldwin Park, Improvement
Bonds, Delta Assessment District No. 86-2" in the principal
amount of $1,625,000 the Bonds"); and
WHEREAS, the City desires to enter into a
Bond Purchase Contract dated as of August 26, 1986 the Bond
Purchase Contract") with Smith Barney, Harris Upham & Co.,
Inc. the Purchaser"); and
WHEREAS, the City desires to award the Bonds to the
Purchaser in accordance with and pursuant to the terms of the
Resolution of Issuance and the Bond Purchase Contract;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF
BALDWIN PARK, as follows:
Section 1. That the Bonds are hereby awarded to the
Purchaser, subject to the terms, conditions and provisions of
the Bond Purchase Contract, said Bonds to bear interest at the
rates per annum for each designated maturity;
Principal
Amount
$ 5,000
5,000
5,000
5,000
5,000
35,000
35,000
40,000
45,000
45,000
50,000
55,000
60,000
65,000
70,000
75,000
80,000
90,000
95,000
105,000
110,000
120,000
130,000
140,000
155,000
Maturity Date
September 2
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Interest
Rate
6.00
6.50
7.00
7.20
7.25
7.25
7.40
7.50
7.60
7.70
7.75
7.80
7.90
8.00
8.00
8.00
8.00
8.00
8.00
8.00
8.00
8.00
8.00
8.00
8.00
BIB]
37847-U01
1986-U02
081-U02
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FO2126-U03
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8/12/2003-U04
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1986 081 CC RESO ;¢fì ø { Section 2. The principal amounts and interest rates
of the Bonds are hereby fixed and established at the amounts
and rates set forth in Section 1 of this Resolution.
Section 3. The Director of Administrative Services
is hereby directed to deliver or authorize the delivery of the
Bonds to the Purchaser upon receipt of payment therefor in
accordance with the provisions hereof and the Bond Purchase
Contract.
Section 4. The Official Statement prepared in connec-
tion with the Bonds, the Reimbursement Agreement dated as of
August 27, 1986, by and between the City and the Baldwin Park
Redevelopment Agency, and the Bond Purchase Contract, dated as
of August 26, 1986, are hereby approved.
Section 5. The City Manager, the Director of Housing
and Economic Development, the Director of Community Services,
the Director of Administrative Services, the City Clerk, the
City Attorney, and other City officials are hereby authorized
and directed to execute and deliver any and all certificates,
resolutions, agreements and other documents in connection with
the issuance, sale and delivery of the Bonds. The Director of
Housing and Economic Development is hereby authorized to approve
such changes, additions, modifications or deletions to the
Official Statement, the Resolution of Issuance, the Reimbursement
Agreement and other documents related to the transaction, as may
be necessary, in the opinion of the Bond Counsel, to accomplish
the expeditions and lawful issuance, sale and delivery of the
Bonds.
Section 6- Bond Counsel, the City Attorney, the
Financing Consultant and the Fiscal Agent are hereby authorized
and directed to take such action to accomplish the expeditions
and lawful issuance, sale and delivery of the Bonds and the
City hereby approves the fees of such parties in connection with
the Bonds and hereby directs the Director of Community Services
to provide for the payment thereof in accordance with the
Resolution of Issuance.
Signed and approved this 27th day/bf August, 1986-
MAYOR
ATTEST:
C^TY CLERK /
State of California
County of Los Angeles) ss
City of Baldwin Park
I, Linda L. Gair, City Clerk of the City of Baldwin
Park, do hereby certify that the foregoing Resolution was duly
and regularly approved and adopted by the City Council of the
City of Baldwin Park at its regular meeting on the 27th day of
August, 1986, by the following vote:
AYES: COUNCILMEN KING, I2ELL, MCNEILL AND MAYOR WHITE
NOES: COUNCILMEN NONE________________________________
ABSENT: COUNCILMEN GIBSON
ABSTAIN: COUNCILMEN NONE
BIB]
37847-U01
1986-U02
081-U02
CC-U02
RESO-U02
LI3-U03
FO2126-U03
FO20545-U03
DO20596-U03
C6-U03
RESO-U03
8/12/2003-U04
ROBIN-U04