HomeMy WebLinkAboutReso. 1980 - 199 - Ordering sale of bonds - Mountain Lakes Industrial Park Unit no. 3 Assessment District no. 1980-2 •
RESOLUTION NO. i().--/ fl
RESOLUTION ORDERING SALE OF BONDS
Mountain Lakes Industrial Park Unit No. 3
Assessment District No. 1980-2
The City Council of the City of Redding resolves :
The City Council accepts the offer of BIRR, WILSON & CO. , INC .
(attached to this resolution and by reference incorporated in it)
to purchase all of the improvement bonds to be issued in Mountain
Lakes Industrial Park Unit No. 3 Assessment District No. 1980-2 ,
City of Redding, Shasta County, California.
The City Council directs the sale and delivery of the bonds
to the offeror in accordance with the terms and conditions stated in
the offer .
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 2nd
day of September, 1980.
AYES: Councilmembers Demsher, Fulton, Gard, Kirkpatrick, and Pugh
NOES: Councilmembers None
ABSENT: Councilmembers None
MILDRED L. BRAYTON, City Clerk,
City of Redding, Shasta County,
California
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OAKLAND SAN f'>;:.NCI:.CO, CA'. RNIA 1-41I7
OROVILLE July 31 , 1983
PAPAD:SE
PETALU MA
RED uLurr
PEDDIN,z
SN^: f:AFAEL
SAN1A f:OSA .
vALLEJO
YUCA CITY
bOISE.. IDAHO I•ir. W. Ja;:on Baker
NEW YORK CITY Cal-Ore Construction
PORTLAND, OnLGONRENO. NEVA.L3A 876 Clear Creek Rd.
PCULr}JO. Y:ASHINU:TOa Redding CA 95001
SEATTLE. WASHINCTON
Re: Mountain Lakes Industrial ='a_..
Unit in assessment District 19S0-2
Dear Mr. Baker :
•
Birr, Wilson & Co. , Inc. hereby agrees to purchase the bonds
to be issued by the City of Padding g on the above described as-
sessment District. Said agree_aat of purchase to include the •
following terms and conditions : • '
•
1. Bonds shall be issued under the Municipal Improvement
Act of 1913 pursuant to the Improvement Act of 1915 •
and in the approximate amount of $2,500,000. 00 par
value.
2. The approving legal opinion of Messrs Stureis,
Brunsell and Sperry shall accompany the bonds when issued.
3. The price shall beninety-five percent (95 ) of par
value for bonds beorimz an average coupon rate of nine
percent (9 ) per annum.•
-
• 4 . The bonds shall be dared September 2nd, 1980, and delivery
made en or about September 15, 1980. •
5. Coupons shall be varfEle but tho net intst cost to
• the District shall ..- : a: :aed the net interest cost based
upon nine percent copens at a price of 95 par value •
:for ;he total issue.
•
•
cod - c� . . .
i
• 110
W. taxon aker
July 31, 1980
Page Ivo
6. You, your associates or your fa:.'ily hereby suliscrihe to
$400,000. 00 par value of the bands. Your purchase shall
consist of a pro-rata share of eac.. ...atur ty based upon
the percentage of 400,000 to the zota2 amount of the issue
and at a price of par (100) .
If these terms and conditions meet '::i:n your approval, please ck-
no,cledge by signature as designated below. .
Very truly Yours,
DIRR, WILSON & CO. , INC.
Don L. --ore President • .
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L. H. Easterling
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W. Jaxon Baker