HomeMy WebLinkAboutReso. 1989-051 - Ordering sale of bonds lucky lane r
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i RESOLUTION NO. ��' �j�
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I RESOLUTION ORDERING SALE OF BONDS i
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�, LUCKY LANE SEWER ASSESSMENT DISTRICT NO. 1988-1
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The City Council of the City of Redding resolves:
� The City Council accepts the offer of M.L. STERN & CO. ,
INC. , attached to this resolution and by reference incorporated in
it) to purchase all of the improvement bonds to be issued in LUCKY �
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LANE SEWER ASSESSMENT DISTRICT NO. 1988-1, City of Redding, County i
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of Shasta, California. �
; The City Council directs the sale and delivery of the
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bonds to the offeror in accordance with the terms and conditions
i stated in the offer.
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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
7th day of February, 1989. }
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� AYES• Councilmembers Buffum, Carter, Dahl , Ful ton, & Johannessen
` NOES: Councilmembers None
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� ABSENT: Councilmembers None ;
;j, ETHEL A. NICHOLS, City Clerk, I
"' City of Redding, Shasta County, California
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INVESTIV�NT SECURITIES
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BID FORM FOR 1915 ACT BONDS ��
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February 3, 1989 ,� -. ;x
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� Office of the City Treasurer
� City of Redding
! 760 Parkview Avenue i
!' Redding, CA 96001
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Proposal for Improvement Bonds, Lucl.y Lane Sewer Assessment District No. 1988-1
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� In accordance with all terms and conditions of your Notice Inviting Sealed Bids for
� not to exceed $122,689.34 Improvement Bonds, Improvement Bond Act of 1915,
� Lucky Lane Setiver Assessment District No. 1988-1, we submit the following bid for
� Improvement Bonds to be dated March 2, 1989, with interest payable March 2, 1990, �
� and thereafter semiannually on March 2 and September 2:
BONDS BONDS �
�, i�1ATURING PRINCIPAL INTEREST MATURINC; PRINCIPAL INTGREST �
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' ' 1990 $ 689.34 8.00% 1998 $ 9,000.00 8.00% �
� 1991 5,000.00 8.00 1999 9,000.00 8.00 �
i 1992 �,000.00 8.00 2000 1G,000.00 F.00 �
� 1993 6,000.00 5.00 2001 11,000.00 8.00 ,
V� 1994 6,000.00 5.00 2002 12,OOO.QO 8.00
� 1995 7,000.00 8.Q0 2003 13,000.00 8.Qfl
�� 1996 7,000.00 5.00 2004 14,000.00 8.00
'; 1997 8,000.00 8.00
�i We will pay 95.00% for a total of $116,���.87 which is a discount of $6,134.47 fr�m
; the $122,689.34 par value. I
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This offer is sub ect to a satisfacto le al o inion b SturQis Ness Brunsell & S erry, 4
� J rY g A Y b , , A i
'', Emeryville, California, approving the validity of the Bonds, at the e�cpense of the City. i
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8350 Vvilshire Boulevard, Beveriy Hills,Caiifornia 90211 (213) 650-�001 �
!� Branch O:fices: Carmel,San Die�a Sacramento Member: NF�.;D, SIPC �
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1 February 3, 1989 �'
� City of Redding �
i Bid Form for 1915 Act Bonds i
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Page 2
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!, Enclosed herein is a Cashier's Check in the amount of $2,000, payable to the order of the �
; City Treasurer, City of Redding, which funds we request be returned promptly in the event
we are not the successful bidder, otherwise to be retained and applied against the purchase ;
price of the Bonds. Said funds shall be retained by the City as liquidated damages in the
� event, for any reason, we do not pay the purchase price for and accept delivery of the
! Bonds on March 2, 1989. �
� Very truly yours,
M.L. TERI�T & CO. IlVC.
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j aul H. White f
� Senior Vice President �
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INVESTMENT SECURITIES