HomeMy WebLinkAboutReso. 1989-234 - Approving the replacement of the following lost bearer bond and coupons « . • a
p
RESOLUTION NO. O'7•�,5V
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
APPROVING THE REPLACEMENT OF THE FOLLOWING LOST BEARER
BOND AND COUPONS : REDDING NORTH BONNYVIEW AREA SEWER
ASSESSMENT DISTRICT BOND 1978-1 , CERTIFICATE NO. 80 FOR
$5 ,000 .00 , MATURING 7/2/92 , INTEREST RATE 7 . 3% , WITH COUPONS
NUMBERED 19/26 AT $182 . 50 EACH, COUPON NUMBER 19 DUE 1/2/89 ;
AND AUTHORIZING THE CITY TREASURER TO SIGN ALL NECESSARY
DOCUMENTATION TO COMPLETE SAID REPLACEMENT.
1 WHEREAS , the City Treasurer has received a request from Bank
of America Corporate Agency, San Francisco, California, to
replace a lost bearer bond and coupons , namely Redding North
Bonnyview Area Sewer Assessment District Bond 1978-1 , Certificate
No. 80 , including coupons numbered 19/26 and 19 , as more
particularly outlined above; and
WHEREAS , as required by law, Bank of America has furnished
the City of Redding with Seaboard Surety Company Lost Instrument
Bond No. 524963-33390 , a copy of which is attached hereto and
incorporated herein by reference; and
WHEREAS, in order to complete the replacement of the lost
bearer bond and coupons, IT IS HEREBY RESOLVED by the City
Council of the City of Redding as follows:
1 . That the City Treasurer be and hereby is authorized and
directed to sign all necessary documentation on behalf of the
City of Redding in order to complete the replacement of the lost
bearer bond and coupons, as more particularly set forth above.
1
410
' I
fl. 2 . That the City Clerk is hereby authorized and directed to
attest the signature of the Treasurer, and to impress the
official seal of the City of Redding on the aforesaid
documentation, when appropriate.
I HEREBY CERTIFY that the foregoing Resolution was
r i
introduced and read at a regular meeting of the City Council of
the City of Redding on the 18th day of July , 1989 , and was duly
Ir I
adopted at said meeting by the following vote:
AYES: COUNCIL MEMBERS: Buffum, Dahl , Johannessen, & Carter
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: Ful ton
ABSTAIN: COUNCIL MEMBERS: None
)447/6/L'''
SCOTT CARTER, Mayor
City of Redding
i f
ATTEST:
ETHEL A. NICHOLS, City Clerk
FO APPROVED:
RA DALL A. HAYS , C . y Attorney
-2-
li I
41110 II
1 ..
SEABOARD SURETY COMPANY
ADMINISTRATIVE OFFICES: BEDMINSTER, NEW JERSEY
I. LOST INSTRUMENT BOND111
j'
KNOW ALL MEN BY THESE PRESENTS, That SEABOARD SURETY COMPANY, a corporation organized and existing under and by
virtue of the laws of the State of New York, and having an office and place of business at 88 Pine Street
p
as Obligor (hereinafter called "Obligor"), is held and firmly bound unto
City of Redding
II i
II Bank of America National Trust & Savings Association
11
pl,
in the penal sum of twelve thousand nine hundred and twenty dollars and as Obligee,
Il
no cents ($12920 . 00)
Ii lawful money of the United Statss of America,for the payment of which,well and truly to be made,we bind ourselves,our heirs,executors,
{i administrators, successors and assigns, jointly and severally, firmly by these presents.
,Il Signed, sealed and dated this 10th day of March 1989
I WHEREAS, the aforesaid Obligee has notice that Certificate No. 80 for $5, 000 maturing 7/2/92
I interest rate 7. 3% of Redding North Bonnyview Area Sewer Assessment District 'I
1 Bond 1978-1, with coupons #19/26 @ $182.50 each, coupon #19 due 1/2/89 and
registered in the name of the Bearer
II
li has/have been lost, mislaid or destroyed so that the same cannot be found or produced; and
WHEREAS, the Obligee is willing to issue duplicate document in place of the original upon being indemnified against loss by reason
I of so doing:
III
I li NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the said Obligor shall well and truly indemnify and
III keep gd , xpe
the Obligeeindemnified issuingthe duplicatesaidObliof theee abovefrom andescriagainstbed documentanyand all withoutlosssaidcosts documandenet beingnses presentedof for cancewhatsoeverkindllationornature,then.thisby obligationreasonof
I h shall be null and void, otherwise to be and remain in full force and effect.
PROVIDED, HOWEVER, and this bond is executed upon the following express conditions:
: l
i 1. That the Obligor shall be liable only for the actual financial loss suffered by the Obligee by reason of issuing duplicate of the above
document up to the amount hereof.
,I
11, 2. That the Obligee shall promptly notify the Obligor of any claim of ownership or interest in said original document made by any
l II individual, firm or corporation.
i,
I
6IpBond #524963-33390
SEABOARD SURETY COMPANY
I 11
ii
,I, Fe, M APPROVED B . do' 4.44/I # ii, An_I/0
Attorney-In- 'act
li ; Joanne M. Fallon
�
Ali :-
r 46040.2f----
"f
!{i CITY LEGAL ►EPT.
11
III Form 1215
ill
II I
1I