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Home My WebLink AboutReso. 1985 - 018 - Lake keswick sewer assessment district no. 1982-6 i 1 RESOLUTION NO. 35 0 RESOLUTION AMENDING RESOLUTION NO. 85-3 AUTHORIZING ISSUANCE OF SERIES NO. 1982-6-A BONDS LAKE KESWICK SEWER ASSESSMENT DISTRICT NO. 1982-6 The City Council of the City of Redding resolves: Resolution No. 85-3 "Resolution Authorizing Issuance of Series No. 1982-6-A Bonds" adopted by the City Council on January 7 , 1985, is hereby amended as follows : Section 1. RECITALS. The 30-day cash collection period expired on January 7, 1985. There remain unpaid assessments in the total amount of $1 ,175 , 080. 86. Section 2. ISSUANCE OF BONDS. The bond date of January 15, 1985, is changed to February 5, 1985. The maturity schedule for Series A of bonds has been changed to reflect the cash payment received. Said maturity schedule is attached hereto has Exhibit A. The bond form attached as Exhibit B to Resolution No. 85-3 has been revised to change the bond date and the amounts of the Series A and Series B bond issues and is attached hereto. 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 21st day of January, 1985. AYES: Councilmembers Demsher, Fulton, Gard, & Kirkpatrick NOES : Councilmembers None ABSENT: Councilmembers Pugh ETHEL A. NICHOLS , City Clerk, City of Redding, Shasta County, California , 1/43 BY cNio OR GANAL • • MATURITY PRINCIPAL INTEREST DATE AMOUNT RATE 1986 $1, 316 . 00 10 .00% 1987 5 ,000 .00 10 . 00 1988 5 ,000 . 00 10 . 50 1989 55 ,000 .00 10 . 75 1990 55 ,000 .00 11.00 1991 55 ,000 .00 11.00 1992 55 ,000 .00 11. 25 1993 55 ,000 .00 11. 50 1994 55 ,000 .00 11.75 1995 55 ,000 . 00 12 .00 1996 55 ,000 . 00 12.00 1997 55 ,000 . 00 12 .00 1998 55 ,000 .00 12 .00 1999 55 ,000 .00 12.00 2000 55 ,000 . 00 12. 00 TOTAL: $671, 316 .00 SERIES A OF BONDS - EXHIBIT A LAKE KESWICK SEWER A.D. 1982-6 , CITY OF REDDING • • United States of America State of California County of Shasta REGISTERED REGISTERED Number $ IMPROVEMENT BOND CITY OF REDDING LAKE KESWICK SEWER ASSESSMENT DISTRICT NO . 1982-6 SERIES NO. 1982-6-A INTEREST RATE MATURITY DATE BOND DATE CUSIP NUMBER February 5, 1985 Under and by virtue of the Improvement Bond Act of 1915 , Division 10 , of the Streets and Highways Code, (the "Act") , the City of Redding, County of Shasta, State of California, (the "City" ) , will, out of the redemption fund for the payment of the bonds issued upon the unpaid portion of assessments made for the acquisition, work and improvements more fully described in proceedings taken pursuant to Resolution of Intention No. 84-121, adopted by the City Council of the City of Redding on the 18th day of June, 1984 , as later amended, pay to or registered assigns, on the maturity date stated above, the principal sum of , in lawful money of the United States of America and in like manner will pay interest from the interest payment date next preceding the date on which this Bond is authenticated, unless this Bond is authenticated and registered as of an interest payment date, in which event it shall bear interest from such interest payment date, or unless this Bond is EXHIBIT B • • authenticated and registered prior to January 2 , 1986 , in which event it shall bear interest from its date , until payment of such principal sum shall have been discharged , at the rate per annum stated above, payable semiannually on January 2 and July 2 in each year . Both the principal hereof and redemption premium hereon are payable at the principal corporate trust office of Bank of America National Trust and Savings Association-Corporate Agency Division, or its successor , as Transfer Agent, Registrar and Paying Agent , in San Francisco, California, and the interest hereon is payable by check or draft mailed to the owner hereof at the owner ' s address as it appears on the registration books of the Bank , or at such address as may have been filed with the Bank for that purpose, as of the fifteenth day immediately preceding each interest payment date. REFERENCE IS MADE TO THE FURTHER PROVISIONS OF THIS BOND SET FORTH IN THE REVERSE SIDE HEREOF WHICH SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS THOUGH FULLY SET FORTH HEREIN. This bond will continue to bear interest after maturity at the rate above stated, provided, it is presented at maturity and payment thereof is refused upon the sole ground that there are not sufficient moneys in said redemption fund with which to pay same. If it is not presented at maturity, interest thereon will run until maturity. This Bond shall not be entitled to any benefit under the Act or the Resolution Authorizing Issuance of Bonds (the "Resolution of Issuance" ) , or become valid or obligatory for any purpose , until the certificate of authentication and registration hereon endorsed shall have been dated and signed by the Bank . 2 . IN WITNESS WHEREOF, said City of Redding has caused this bond to be signed in facsimile by the Treasurer of said City and by its Clerk , and has caused its corporate seal to be reproduced in facsimile hereon all as of the 5th day of February, 1985 . CITY OF REDDING Clerk Treasurer (SEAL) Certificate of Authentication and Registration This is one of the Bonds described in the within mentioned Resolution of Issuance, which has been registered on Bank of America National Trust and Savings Association By Authorized Officer 3 • • (REVERSE OF BOND) CITY OF REDDING LAKE KESWICK SEWER ASSESSMENT DISTRICT NO . 1982-6 , SERIES NO. 1982-6-A ADDITIONAL PROVISIONS OF THE BOND The entire amount of assessments levied in Lake Keswick Sewer Assessment District No. 1982-6 is $1, 177 ,095. 69 . Following delivery of this Series No. 1982-6-A bond issue in the amount of $ 671, 316. 00 , there remains authorized but unissued $ 503 ,764 . 86 principal amunt of bonds for this assessment district . All bonds of Series No. 1982-6-A together with all bonds hereafter issued as authorized , shall be administered as a single consolidated bond issue for all purposes contemplated by the Improvement Bond Act of 1915 . This bond is one of several annual series of bonds of like date , tenor and effect, but differing in amounts , maturities and interest rates , issued by the City of Redding under the Act and the Resolution of Issuance , for the purpose of providing means for paying for the improvements described in said proceedings , and is secured by the moneys in said redemption fund and by the unpaid portion of said assessments made for the payment of said improvements , and, including principal and interest, is payable exclusively out of said fund. This Bond is transferable by the registered owner hereof, in person or by the owner ' s attorney duly authorized in writing, at said office of the Bank , subject to the terms and conditions provided in the Resolution of Issuance , including the ` • payment of certain charges , if any, upon surrender and cancellation of this Bond. Upon such transfer , a new registered Bond or Bonds , of any authorized denomination or denominations , of the same maturity, for the same aggregate principal amount , will be issued to the transferee in exchange therefor . Bonds shall be registered only in the name of an individual (including joint owners) , a corporation, a partnership or a trust. Neither the City nor the Bank shall be required to make such exchange or registration of transfer of bonds during the fifteen (15) days immediately preceding any January 2 or July 2. The City and the Bank may treat the owner hereof as the absolute owner for all purposes, and the City and the Bank shall not be affected by any notice to the contrary. This bond or any portion of it in the amount of $5, 000 or any integral multiple thereof, may be redeemed and paid in advance of maturity upon the second day of January or July in any year by giving at least 60 days ' notice by registered mail to the registered owner hereof at such owner ' s address as it appears on the registration books of the Bank and by paying principal and accrued interest together with a premium equal to five''percentum of the principal. I hereby certify that the following is a correct copy of the signed legal opinion of STURGIS , NESS , BRUNSELL & SPERRY a professional corporation, Emeryville , California, on file in my office. City Clerk 2 RESOLUTION NO. : . W RESOLUTION AMENDING RESOLUTION OF INTENTION NO. 84-238 Ridgewood Sewer Assessment District No. 1984-1 The City Council of the City of Redding resolves: On November 5 , 1984, the City Council adopted its Resolution No. 84-238 , "Resolution of Intention to Order Improvement in Ridgewood Sewer Assessment District No. 1984-2 ." Resolution No. 84-238 is hereby amended by adding thereto the following: "The procedure for collection of assessments and advance retirement of bonds under the Improvement Bond Act of 1915 shall be as provided in Part 11. 1, Division 10 of the Streets and Highways Code of the State of California." 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 21st day of January, 1985 . AYES: Councilmembers Demsher, Fulton, Gard, & Kirkpatrick NOES: Councilmembers None ABSENT: Councilmembers Pugh ETHEL A. NICHOLS , City Clerk, City of Redding, Shasta County, California By R '`�(/,ccs/V��1 ��'�+((�{{1Ip��\\\\,,'('1jIF� OY1l VIII VA