HomeMy WebLinkAboutReso 94-088 - Approve form & substance of preliminary statement & bond purcahse contract, authorize mod, authorize execution and authorize related documents & Actions (Tierra Oaks Assessment Dist No. 1993-1) d
RESOLUTION NO. 9
RESOLUTION APPROVING FORM AND SUBSTANCE OF
PRELIMINARY OFFICIAL STATEMENT AND BOND PURCHASE CONTRACT,
AUTHORIZING MODIFICATIONS THERETO,
AUTHORIZING EXECUTION THEREOF, AND
AUTHORIZING RELATED DOCUMENTS AND ACTIONS
(Tierra Oaks Assessment District No. 1993-1)
The City Council of the City of Redding resolves as
follows:
1. In connection with the proposed issuance, sale and
delivery of the City of Redding, Limited Obligation Improvement
Bonds, Tierra Oaks Assessment District No. 1993-1, this City
Council has retained Kelling, Northcross & Nobriga, Inc. as
Financial Advisor, to perform the function, among others, of
preparation and submission to the City Council of this City of a
recommended Preliminary Official Statement for use and
distribution in connection with issuance, sale and distribution
to the public of the proposed City of Redding, Limited Obligation
Improvement Bonds, Tierra Oaks Assessment District No. 1993-1.
2 . The Financial Advisor has prepared and filed with
the City Clerk of this City a proposed Preliminary Official
Statement, dated as of April 5, 1994. This City Council, acting
upon the recommendation of the Financial Advisor and Special
Legal Counsel, hereby finds and determines that it is in the
public interest and for the public benefit that the Preliminary
Official Statement be approved. The Financial Advisor, in \
coordination with Special Legal Counsel, has prepared and filed �\
with the City Clerk of this City a proposed Bond Purchase X
Contract. \
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sF2-28945.1 ? , I,
3 . This City Council hereby finds and determines and
hereby declares that the facts contained in the Preliminary
Official Statement as presented to this Council on the date
hereof are true and correct in all material respects, and the
Preliminary Official Statement neither contains any untrue
statement of a material fact nor omits to state any material fact
necessary to make any statement therein not misleading in light
of the circumstances under which it was made.
4. The Preliminary Official Statement shall be deemed
"nearly final" for purposes of compliance with Securities and
Exchange Commission Rule 15c(2) -12 .
5. This City Council hereby authorizes the execution
of the Preliminary Official Statement and any Official Statement
substantially derived therefrom by such representative of the
City as may be recommended by the Financial Advisor. The
Financial Advisor is authorized to distribute said Preliminary
Official Statement in connection with the solicitation of sealed
bids for the sale of the City of Redding, Limited Obligation
Improvement Bonds, Tierra Oaks Assessment District No. 1993-1,
and to thereafter make sufficient copies of the Preliminary
Official Statement and the Official Statement to be substantially
derived therefrom available to the successful bidder for the
bonds for use by the successful bidder in connection with
reoffering of the bonds to the public.
6. This City Council hereby authorizes the making of
corrections to or additions to the Preliminary Official Statement
by supplement or an amendment thereto or by appropriate
sF2-28945.1 2
or
insertions into the Preliminary Official Statement and further
authorizes the preparation of an Official Statement to be
substantially derived therefrom.
7. The proposed Bond Purchase Contract is hereby
approved and the Financial Advisor is hereby authorized to
distribute said Bond Purchase Contract in soliciting bids for the
purchase of the City of Redding, Limited Obligation Improvement
Bonds, Tierra Oaks Assessment District No. 1993-1.
8. This City Council hereby fixes 10: 00 A.M. on April
19, 1994, California time, at the offices of Orrick, Herrington &
Sutcliffe, 400 Sansome Street, San Francisco, California 94111,
in Conference Room C on the 2nd floor, as the time and place for
the bond bid opening. The results of said bid opening shall be
summarized and reported to this City Council at its meeting at
7: 00 P.M. on said date of April 19, 1994 with the expectation of
awarding sale of the City of Redding, Limited Obligation
Improvement Bonds, Tierra Oaks Assessment District No. 1993-1, to
the successful bidder at that time.
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I HEREBY CERTIFY that the foregoing resolution was duly
and regularly adopted by the City Council of the City of Redding,
Shasta County, California, at a regular meeting thereof, held on
the 5th day of April, 1994.
AYES: Councilmembers Anderson, Kehoe, Moss and Arness
NOES: Councilmembers None
ABSENT: Councilmembers Dahl
CONNIE STROHMAYER, City Clerk,
City of Redding, Shasta County,
California
By
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