HomeMy WebLinkAboutReso. 1986 - 054 - Authorizing the m-s-r public power agency to refund its san juan project . .
RESOLUTION NO. �/(
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
AUTHORIZING THE M-S-R PUBLIC POWER AGENCY TO REFUND ITS SAN
JUAN PROJECT REVENUE BONDS, SERIES A.
WHEREAS, Redding is a member of the M-S-R Public Power
Agency; and
WHEREAS, the M-S-R Public Power Agency has previously issued
its San Juan Project Revenue Bonds, Series A, dated June 15 , 1983
(the "Series A Bonds") ; and
WHEREAS, the Joint Exercise of Powers Agreement of the M-S-R
Public Power Agency by and among the Modesto Irrigation District,
the City of Santa Clara and the City of Redding as Amended and
Restated as of November 17 , 1982, requires that the issuance of
revenue bonds by the M-S-R Public Power Agency shall be subject
to the prior approval of the members; and
WHEREAS, refunding the Series A Bonds will assist in
lowering the financing costs of the M-S-R Public Power Agency;
NOW, THEREFORE, BE IT RESOLVED that the City Council of the
City of Redding hereby authorizes and approves the issuance of
bonds in an aggregate principal amount not to exceed $1715 ,000 , 000
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by the M-S-R Public Power Agency for the purpose of refunding all
or a portion of the Series A Bonds.
I HEREBY CERTIFY that the foregoing Resolution was
introduced and read at a regular meeting of the City Council of
the City of Redding on the 3rd day of March , 1986,
and was duly adopted at said meeting by the following vote:
AYES: COUNCIL MEMBERS: Demsher, Gard, Pugh, & Kirkpatrick
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: Fulton
ABSTAIN: COUNCIL MEMBERS : None
41 4
477/.0-,X6(4/
HOWARD D. KIRKP RICK, Moor
City of Redding
ATTEST:
C�ae a
ETHEL A. NICHOLS, City Clerk
FORM.—A-PROVED:
T
,d-7:e n Com( c _ CL A. HAYS, City Attorney