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Home My WebLink AboutReso. 1987 - 234 - Approving the replacement of the following lost bearer bond/coupons; cascade community service district 1964 california bond no. 110 . • RESOLUTION NO. 17-,,L'f y A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING APPROVING THE REPLACEMENT OF THE FOLLOWING LOST BEARER BOND/COUPONS: CASCADE COMMUNITY SERVICE DISTRICT, 1964 WATER BONDS SERIES A, CITY OF REDDING, SHASTA COUNTY, CALIFORNIA, BOND NO. 110 DUE 06/01/91 FOR $5 , 000. 00 , INTEREST RATE 4% , WITH COUPONS NUMBERED 45/53 AT $100. 00 EACH, COUPON NUMBER 45 DUE 6/1/87; AND AUTHORIZING THE CITY TREASURER TO SIGN ALL NECESSARY DOCUMENTATION TO COMPLETE SAID REPLACEMENT. WHEREAS , on July 15 , 1987 , the City Treasurer received a request from Bank of America Corporate Agency, San Francisco, California, to replace a lost bearer bond/coupons, namely Cascade Community Service District 1964 Water Bond, Series A Bearer Bond No. 110 , including coupons numbered 45/53 , as more particularly outlined above; and WHEREAS, as required by law, Bank of America has furnished the City of Redding with Seaboard Surety Company Indemnity Bond No. 100394-87-11 , a copy of which is attached hereto and incorporated herein by reference; and WHEREAS, in order to complete the replacement of the lost fi bearer bond/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/coupons, as more particularly set forth above. r� °d' 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 introduced and read at a regular meeting of the City P Council of the City of Redding on the 18th day of August , 1987 , and was duly adopted at said meeting by the following vote: AYES: COUNCIL MEMBERS: Carter, Fulton, Gard, Johannessen, Dahl NOES : COUNCIL MEMBERS: None ABSENT: COUNCIL MEMBERS: None ABSTAIN: COUNCIL MEMBERS: None MIKE DAHL, Mayor City of Redding ATTEST: ETHEL A. NICHOLS , City Clerk FORD PPROVED: RA DALL A. HAYS , ity Attorney 11 -2- BOND #1100394-87-11 SEABOARD SURETY COMPANY HOME OFFICE: NEW YORK, N. Y. s SPP ® D KNOW ALL LIEN BY THESE PRESENTS, That we BEARER CITY LEGAL DEPTa (hereinafter called "Principal"), and SEABOARD SURETY COMPANY, duly authorized to transact the business of indemnity and suretyship in the State of New York, and having an office is and principal place of business in the City of New York at 90 William Street, New York, New York as Surety, (hereinafter called "Surety") are held and firmly bound unto CITY OF REDDING BANK OF AMERICA NT & SA FIRST NATIONAL BANK OF CHICAGO AND BANKAMERICA TRUST COMPANY OF NEW YORK their Co-Transfer Agents and/or Co-Registrars and/or Co-Trustees and/or Co-Paying Agents, indi- vidually and/or as Trustee, Depositary, Fiscal or Paying Agent, Registrar, Transfer Agent and/or in any other capacity, their respective legal representatives, successors and assigns, and also any successors in any of such capacities (hereinafter collectively called "Obligees"), in an aggregate sum, lawful money of the United States, sufficient to indemnify the Obligees under the conditions of this bond as hereinafter set forth, but not exceeding the maximum for which the Surety mays lawfully obligate itself on the date of this bond in respect of any single risk or otherwise under any !law governing the validity or performance of this bond, which amount the Surety represents to be at least $ 28,000.00 on the date of this bond, said sum to be paid to the Obligees as their interests may appear, for which payment, well and truly to be made, the said Principals and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents. SIGNED, SEALED AND DELIVERED in the City of New York, dated this 22 day of MAY, 1987 WHEREAS, the aforesaid Principal and Surety represent that the Principal is the sdle owner of BOND #110 due 6/1/91 FOR $5,000.00., INTEREST RATE 4% OF CASCADE COMMUNITY SERVICE DISTRICT, 1964 WATER BONDS SERIES A, WITH COUPONS #45/53 @ $100 EACH, COUPON #45 DUE 6/01/87 and that said instrument or instruments have been lost, mislaid, stolen or destroyed,: so that the same cannot be found or produced; and WHEREAS, at the request of the Principal and the Surety and in reliance upon their representations, and in consideration of the execution and delivery to the Obligees of this bond, the Obligees are about to deliver to the Principal a new instrument or instruments or to make the payment,rtransfer, delivery or exchange called for by said lost, mislaid, stolen or destroyed original or originals without surrender thereof for cancellation; NOW, THEREFORE, THE CONDITIONS OF THIS OBLIGATION ARE SUCH, that if the Principal, the heirs, legal representatives, successors or assigns of the Principal, or any of then shall in case the mislaid, lost, stolen or destroyed original or originals be found or come into the hands or power of any of them or into the hands, custody or power of any person, deliver or cause the same ilto be immediately delivered unto the Obligees in order to be cancelled, and shall at all times indemnify and save harmless the Obligees from and against any and all claims, actions and suits whether groundless or otherwise, and from and against any and all liabilities, losses, damages, costs, charges, counsel fees and other expenses of every nature and character by reason of the said mislaid, lost, stolen or destroyed original or originals and/or the issuance of a new instrument or instruments in lieu thereof or the making of the payment, transfer, delivery or exchange called for by the original or originals without the surrender thereof, and whether or not based upon or arising out of the honoring or refusing to honor the original or originals when presented by any one or based upon or arising from inadvertence, accident, oversight or neglect on the part of the Oblias or their respective officers, agents, r ks.and employees and/or omission or failure to enquire into,, ntest or litigate the right of any appliWt to receive any payment, credit, transfer, registration, exchange or delivery in respect of the original or the originals and/or the new instrument or instruments issued in lieu thereof, and/or based upon or arising out of any determina- tion which the Obligees may in fact make as to the merits of any such claim, right or title, and/or based upon or arising out of any other matter or thing whatsoever, then this obligation shall be void; otherwise shall remain in full force and effect. The Principal and Surety further jointly and severally agree that in case the mislaid, lost, stolen or destroyed original or originals be found or come into the hands or power of any person, then the Principal and the Surety will forthwith, on demand, obtain and deliver to the Obligees either such original or originals or said new instrument or instruments or will pay to the Obligees the full market value thereof at such time. The Surety agrees that its liability hereunder shall be absolute and unconditional regardless of any liability of the Principal hereunder, whether by reason of any irregular or unauthorized execution of, or failure to execute this bond, or any absence of interest of the Principal in the subject matter hereof, or otherwise and that its liability hereunder shall accrue and become enforceable 1against the Surety without prior demand or any other precedent action or proceeding against the Principal. This bond shall be deemed to be a New York contract and shall be construed in accordance with the laws thereof By Signature of Principal BEARER SEABOARD SURETYI COMPANY Surety j4By .d . Attorney-i r-fact (n137,TIT LMC.` T TlT�7 • ° OFFICIAL SEAL DIANE R. FISHER STATE OF CALIFORNIA l NOTARY PURL CALIFORNIA SS.: PRe PAL ;c CE IN M ORANr E r:Ou TV ;,1 �..•�,; COUNTY OF ORANGE // My Commission Exp. Aug. 28, 1989 On this 22 day MAY 19 87, before me, the undersigned Notary Public, in and for the State, personally appeared CHARLES L. DAY a person known to me(or proved to me on the basis of satisfactory evidence), to be the person who executed the written instrument as Attorney-in-Fact on behalf of the corporation therein named and acknowledged to me that the corporation executed it. / Given under my hand and Notarial Seal this 22ND day of MAY A.D 1987 . U� 1 My Commission Expires V '" " ' AUGUST 28, 1989 DIANE R. FISHER Notary Public. FORM 116 12/82 m I FORM O98-1