HomeMy WebLinkAboutReso. 1985 - 139 - Ratifying the advance refunding of the $220,600,000 9% sab juan project bond . .
RESOLUTION NO. S.'5:13;
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
RATIFYING THE ADVANCE REFUNDING OF THE $220 , 600 , 000 9% SAN
JUAN PROJECT BOND ANTICIPATION NOTES, SERIES B.
WHEREAS, The City of Redding and each of the other members
of the M-S-R Public Power Agency are participating in the San
Juan Project; and
WHEREAS, in October, 1984 , M-S-R Public Power Agency issued
the Series B Notes to advance refund outstanding notes;
WHEREAS, the Commission of M-S-R has approved the recommen-
dations of its financial advisor, Shearson Lehman Brothers, Inc. ,
to refund the M-S-R Series B Notes with a long term bond issue
due to the condition of the bond market at the present time;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Redding that the advance refunding of the $220 , 600 , 000 9%
San Juan Project Bond Anticipation Notes, Series B, is hereby
ratified by adoption of this resolution.
I HEREBY CERTIFY that the foregoing resolution was intro-
duced and read at a regular meeting of the City Council of the
City of Redding on the 15th day of July , 1985 , and
was duly adopted at said meeting by the following vote :
AYES: COUNCIL MEMBERS: Demsher, Fulton, Gard, Pugh, & Kirkpatrick
NOES: COUNCIL MEMBERS : None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
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HOWARD D. KIRK ATRICK, Mayor
City of Redding
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ATTEST:
ETHEL A. NICHOLS , City Clerk
FORM APPROVED:
RANALL A. HAYS, CitC./pe Attorney
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