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HomeMy WebLinkAboutReso. 1979-109 Providing for the Issuance of $5,000,000 Principal Amount of "City of Redding 1977 Electric System Improvement Bonds, Series B," Being Part of an Issue in the Aggregate Principal Amount of $9,800,000 Authorized at an Election Held in Said C/ \ ,' .� � � � , CITY OF REDDING RESOLUTION N0. 7�y PROVIDING FOR THE ISSUANCE OF $5 , 000, 000 PRINCIPAL AI�lOUNT OF "CZTY OF REDDING 1977 ELECTRZC SYSTEM ZMPROVEMENT BONDS, SERIES B, " BEING PART OF AN ISSUE IN THE AGGRE- GATE PRINCIPAL AMOUNT OF $9, 800 , 000 AUTHORIZED AT AN ELECTION HELD IN SAID CITY ON MAY 31 , 1977; PRESCRIBING THE AMOUNT, DATE AND FORM OF SERIES B BONDS OF SAID ISSUE AND OF THE COUPONS TO BE ATTACHED THERETO AND PRESCRIBING THE MATURZTIES THEREOF AND THE REDEMPTZON PROVISIONS THEREFOR; AND DIRECTING NOTICE OF SALE OF SAID BONDS TO BE GIVEN WHEREAS, the City Council of the City of Redding heretofore , on October 17, 1977, duly passed and adopted its Resolution No. 77-205, providing for the issuance of $9, 800 , 000 principal amount of City of Redding 1977 Electric System Improvement Bonds (herein called the "Bonds" ) , as set forth in the records of the City Council; and wHEREAS, in and by said resolution said authorized issue of Bonds was divided into series; and WHEREAS, pursuant to proceedings heretofore duly had and taken pursuant to said resolution, Series A Bonds in the principal amount of $4 , 800 , 000 were issued and sold and are now outstanding; and wHEREAS, said resolution provided that the remaining $5 , 000 , 000 principal amount of the Bonds may v , J , � � Rescinded by Resolution No. 81-111 � , • �� �,; 1 . , . • ! be divided into one or more additional series , as the City Council shall determine; and WHEREAS , the City Council has determined, and does hereby declare , that it is necessary and desirable that the remaining $5 , 000 , 000 principal amount of the Bonds be issued and sold for the object and purpose for which they were authorized by the electors ; NOW, THEREFORE , BE IT RESOLVED by the City Council of the City of Redding, as follows : Section 1 . Said Resolution No. 77-205 providing for the issuance of the Bonds , adopted by the City Council on October 17, 1977, is incorporated herein by reference and all of the provisions thereof are made a part hereof and shall be applicable to said remaining $5, 000, 000 principal amount of the Bonds , except only as herein otherwise expressly provided. Section 2 . Said remaining $5 , 000 , 000 principal amount of the Bonds shall constitute an additional series of said authorized issue of Bonds , to be designated "Series B. " The Series B Bonds shall be issued as coupon bonds in the denomination of $5 , 000 , and shall be numbered from B1 to B1000 , both inclusive , in consecutive numerical order of their maturities . The Series B Bonds shall be dated August 1 , 1979 (which is hereby fixed and determined to be the date of issue o£ the Series B Bonds) . All of the Series B Bonds shall bear interest from their date until paid at the rate, or rates , designated by the City Council at the time of the sale thereof , but not to exceed eight per cent (88) per annum. 2 � � � Interest on the Series B Bonds shall be payable annually the first year and semiannually thereafter. Such interest shall be evidenced by coupons attached to each Series B Bond, which shall be numbered in consecutive numer- ical order from 1 upwards in the order of their respective maturities, and each of said coupons shall represent six months ' interest (except the first coupon on the Series B Bonds , which shall represent twelve months ' interest) on the Series B Bond to which it is attached . The interest coupons on the Series B Bonds shall be payable annually the first year on August 1 , 1980 and semiannually thereafter on February 1 and August 1 in each year until and at the respective maturity dates of the Series B Bonds . The Series B Bonds shall mature serially in consecutive numerical order, from lower to higher, on August 1 in each of the years , as follows : Principal Maturity Date Amount (August 1) $ 75 , 000 1980 75, 000 1981 100 , 000 1982 100 , 000 1983 100, 000 1984 125 , 000 1985 125 , 000 1986 125 , 000 1987 150 , 000 1988 150 , 000 1989 175 , 000 1990 175 , 000 1991 200 , 000 1992 200 , 000 1993 200, 000 1994 225 , 000 1995 225, 000 1996 250, 000 1997 275 , 000 1998 300, 000 1999 300 , 000 2000 325 , 000 2001 ,�; 325 , 000 2002 350, 000 2003 ' 350 , 000 2004 3 � � Both the principal of and interest on the Series B Bonds shall be payable in lawful money of the United States of America at the principal office of Bank of America National Trust and Savings Association in San Francisco, California , or , at holder' s option, at the principal office of Manufacturers Hanover Trust Company in New York, New York, or at the office of Harris Trust and Savings Bank in Chicago, Illinois , the Paying Agents of the City for the Series B Bonds . Series B Bonds maturing by their terms on or prior to August 1 , 1991 shall not be subject to redemption prior to their fixed maturity dates . Series B Bonds maturing by their terms on or after August 1 , 1992 shall be subject to redemption prior to their fixed maturity dates , at the option of the City, as a whole, or in part in inverse order of maturity (and by lot within any one maturity if less than all of the Series B Bonds of such maturity be redeemed) , on August 1 , 1991 , but not prior thereto, and on any interest payment date thereafter prior to their fixed maturity date or dates , at the principal amount thereof and accrued interest thereon to the date of redemption, together with a premium of one-qUarter of one per cent (1/4 0£ 1�) of such principal amount for each whole year and for any fraction of a year remaining from the date fixed for redempt'ion to the fixed maturity date of the Series B Bonds so called for redemption. whenever funds are available for the call and redemption of any of the Series B Bonds then subje �o call and redemption, the City shall determine the �ers 4 ` � of the Series B Bonds to be called and redeemed, and the date of redemption thereof. Notice of redemption of any of the Series B Bonds shall be given by publication of such notice once a week for two (2) successive weeks in a newspaper of general circulation or a financial journal circulated in San Francisco, California , and in a similar newspaper or financial journal circulated in New York, New York, with the first publication of each such notice being at least thirty (30) days but not more than sixty (60) days prior to the date fixed for such redemption. Such notice of redemption shall set forth the Series B Bond numbers and principal amount of the Series B Bonds so to be called and redeemed. Such notice shall also be mailed not later than the date of the first of said publications to the respective registered owners of any Series B Bonds called for redemption at their addresses appearing on the registration book in the San Francisco office of the Paying Agent; provided that such mailing shall not be a condition precedent to such redemption and failure to mail or receive any such notice shall not affect the validity of the proceedings for the redemption of such Series B Bonds. After the date fixed for such redemption, if the City shall have duly published notice of such redemption and shall have provided funds for the payment of the principal of and interest on the Series B Bonds so called for redemption, together with any premium then due thereon, interest on the Series B Bonds so called for redemption shall thereafter cease. All Series B Bonds and the coupons attached thereto -. f � ...,�,y � r•:�.a .i�. �. i.r.: 5 � � surrendered upon call for redemption shall be cancelled and shall not be reissued. Section 3 . The Series B Bonds and the coupons attached thereto and the registration endorsement to appear thereon shall each be substantially in the following forms , the blanks in said forms to be filled with appropriate words or figures , namely : � . .•'i. . + � '1�' g:�r, i 6 � � � [Form of Series B Bond� UNITED STATES OF AMERICA STATE OF CALIFORNIA SHASTA COUNTY CITY OF REDDING 1977 ELECTRIC SYSTEM IMPROVEMENT SOND SERZES B No, g $5 , 000 The CZTY OF REDDING, a municipal corporation organized and existing under the Constitution and laws of the State of California, hereby acknowledges itsel£ indebted and for value received promises to pay to the bearer hereof (or if this bond be registered, to the registered owner hereof) on August 1, (subject to any right of prior redemption hereinafter in this bond expressly reserved) the principal sum of FIVE THOUSAND DOLLARS ($5 , 000) together with interest thereon from the date hereof until payment of said principal sum in full , at the rate of per cent ( 8) per annum, payable annually the first year on August 1 , 1980 and semiannually thereafter on February 1 and August 1 of each year. Unless this bond be registered, such interest, on or prior to maturity, shall be payable only on pre- sentation and surrender of the proper interest coupons hereto attached as they respectively become due . Both the principal of and interest on this bond are payable in lawful money of the United States of America at the principal office of Bank of America National Trust and Savings Association in San Francisco, California, or, at holder ' s option, at the principal office of Manu- facturers Hanover Trust Company in New York , New York, or at the office of Harris Trust and Savings Bank in Chicago, Illinois . This bond is one o£ a duly authorized issue of bonds of said City aggregating Nine Million Eight Hundred Thousand Dollars ($9 , 800, 000) in principal amount, all of like tenor (except for such variations , if any, as may be required to designate varying series , numbers , dates, denominations , maturities , redemption pr.ovisions or interest rates) and is one of the bonds of Series, B .,�,, • � e .4 . ♦ a 7 � � of said authorized issue and is issued under and pursuant to the Constitution and statutes of the State of California , and under and pursuant to the ordinances and proceedings of said City duly adopted and taken and a vote and assent of more than two-thirds of all the qualified electors of said City voting at a special election duly called and held for that purpose . Bonds maturing by their terms on or prior to August 1 , 1991 are not subject to redemption prior to their fixed maturity dates. Bonds maturing by their terms on or after August 1 , 1992 are subject to redemption prior to their fixed maturity dates , at the option of said City, as a whole, or in part in inverse order of maturity (and by lot within any one maturity if less than all of the bonds of such maturity be redeemed) , on August 1, 1991 , but not prior thereto, and on any interest payment date thereafter prior to their fixed maturity date or dates , at the principal amount thereof and accrued interest thereon to the date of redemption, together with a premium of one-quarter of one per cent (1/4 of 1�) of such principal amount for each whole year and for any fraction of a year remaining from the date fixed for redemption to the fixed maturity date of the bonds so called for redemption. This bond is negotiable and transferable by delivery unless registered as to principal and interest in the name of the holder at the office of the Paying Agent of the City in San Francisco, California , and such registration noted hereon . After such registration, the interest hereon and the principal hereof shall be payable only to the registered owner and no valid transfer hereof can be made except at such office by the registered owner in person or by duly authorized attorney and similarly noted hereon, until after registered transfer to bearer, but after registered transfer to bearer , this bond shall again be transferable by delivery. It is hereby certified, recited and declared that all conditions , things and acts required by law to exist, happen and be performed precedent to and in the issuance of this bond have existed, happened and been performed in due time , form and manner as required by law, and that the amount of this bond, together with all other indebtedness of said City, does not exceed any limit prescribed by the Constitution or statutes of said State, and that provision has been made as required by the Con- stitution and statutes o£ said State for the .collection of an annual tax sufficient to pay the principal of and interest on this bond as the same become due. The full faith and credit of said City are hereby pledged for the punctual payment of the principal of and interest on this bond. �. . •i-: +. .r . �. 8 � � IN WITNESS WHEREOF, the City of Redding has caused this bond to be executed under its official seal , signed by its Mayor and its Treasurer, and countersigned by its City Clerk , and has caused the interest coupons attached hereto to be signed by its Treasurer, and this bond to be dated August 1, 1979 . Mayor o£ the City of Redding Treasurer of the City of Redding [SEAL] Countersigned: City Clerk of the City of Redding [Form of Interest Coupon] Coupon No . _ The CITY OF REDDING on the lst day of , _ will (unless the within-mentioned bond be registered and subject to any right of prior redemption reserved therein) pay to the bearer at the principal office of Bank o£ America National Trust and Savings Asso- ciation in San Francisco, California, or at the principal office of Manufactuers Hanover Trust Company in New York, New York, or at the office of Harris Trust and Savings Bank in Chicago, Illinois , the sum set forth hereon in lawful money S of the United States of America, being interest then due on its 1977 Electric System Improvement Bond, Series B , No.•- B•- :' dated August 1 , 1979 , ��.:' ' 'T- Treasurer of the City of Redding 9 � � [Form of Registration Endorsement] This bond may be registered as to principal and interest in the name of the owner on books kept by the Paying Agent of the City in San Francisco, California, such registra- tion being noted hereon by said Paying Agent in the registration blank below, after which no transfer shall be valid unless made on said books by the registered owner or attorney duly authorized and similarly noted in the registration blank below. At the request of the registered owner, this bond may be converted into a coupon bond at the expense of such owner and such coupon bond may again be converted into a bond registered as to principal and interest as hereinabove provided. Upon reconversion of this bond, if registered as to principal and interest, into a coupon bond, coupons representing the inter- est to accrue hereon to date of maturity shall be attached hereto by said Paying Agent and said Paying Agent shall note in the registration blank below that this bond is payable to bearer. NOTE : There must be no writing in the space below except by the San Francisco Paying Agent. DATE OF NAME OF ADDRESS OF SIGNATURE OF REGISTRATION REGISTERED OWNER REGISTERED OWNER PAYZNG AGENT ��,e ; � '.. :=•� , � •� � 10 � � Section 4 . The proceeds of the sale of the Series B Bonds shall be deposited as follows : (a) All moneys received on account of any premium paid on the Series B Bonds and interest accrued on the Series B Bonds from their date to the date of delivery and actual payment of the purchase price thereof shall be deposited in the "City of Redding 1977 Electric System Improvement Bond Interest and Redemption Fund" provided for in Section 7 of said Resolution No. 77-205 passed and adopted by the City Council on October 17 , 1977 . (b) The balance of the proceeds of the sale of the Series B Bonds shall be deposited in the "City of Redding 1977 Electric System Improvement Bond Fund" established by Section 8 of said Resolution No. 77-205 . Section 5. The City Council covenants with the holders of all of the Series B Bonds at any time outstanding that it will make no use of the proceeds of any of the Series B Bonds which will cause any of the Series B Bonds to be "arbitrage bonds" subject to federal income taxation by reason of Section 103 (c) of the Internal Revenue Code of 1954 . To that end, so long as any of the Series B Bonds are outstanding, the City shall comply with all requirements of '���� ���tYon 103 (c) and of all regulations thereunder, to the extent that such requirements are, at the time, applicable to the Series B Bonds and in e£fect. 11 � � � Section 6 . All of the Series B Bonds shall be offered for public sale by the City Council on July 18 , 1979 , and the City Clerk is hereby authorized and directed to cause a notice of the sale of the Series B Bonds to be published once prior to such date in the Record Searchlight, a newspaper of general circulation published in the City, which such notice shall be substantially in the following form, to wit : � .b r• r� •� . 12 � � OFFICZAL NOTICE OF SALE $5, 000, 000 CITY OF REDDING 1977 ELECTRIC SYSTEM IMPROVENIENT BONDS, SERIES B NOTICE IS HEREBY GIVEN that sealed proposals will be received and opened by a representative of the City Council of the City o£ Redding, Shasta County, State of California, at the office of h7essrs . Orrick, Herrington, Rowley & Sutcliffe, Eleventh Floor, 600 Montgomery Street, San Francisco, California 94111, on WEDNESDAY, JULY 18 , 1979 at the hour of 10 : 00 o' clock A.M. for the purchase of $5 , 000 , 000 principal amount of bonds of the City desig- nated "City of Redding 1977 Electric System Improvement Bonds , Series B" (herein called the "bonds") , more par- ticularly described below. The bonds are the balance of a total issue of $9 , 800 , 000 aggregate principal amount authorized at an election held in the City on May 31 , 1977 , whereof $4 , 800 , 000 principal amount of Series A bonds have heretofore been issued and sold and are now outstanding . ISSUE AND $5 , 000, 000 principal amount of coupon DENOMZNATION: bonds , numbered consecutively from B1 to B1000 , both inclusive, of the denomination o£ $5 , 000 . DATE : The bonds are dated August 1 , 1979 . MATURITIES : The bonds mature serially in consecu- tive numerical order, from lower to higher , on August 1 in each of the years , as follows : Principal Maturity Date Amount (August 1) $ 75 , 000 1980 75 , 000 1981 100 , 000 1982 100 , 000 1983 100 , 000 1984 125 ,000 1985 125 , 000 1986 125 ,000 1987 150, 000 1988 150, 000 1989 175, 000 1990 175 , 000 1991 200, 000 1992 200 , 000 1993 200, 000 1999 r • • 13 : � � Principal Maturity Date Amount (August 1) $225 , 000 1995 225 , 000 1996 250 , 000 1997 275 , 000 1998 300 , 000 1999 300 , 000 2000 325 , 000 2001 325, 000 2002 350 , 000 2003 350 , 000 2004 REDEMPTION: Bonds maturing by their terms on or prior to August 1 , 1991 are not subject to redemption prior to their fixed maturity dates. Bonds maturing by their terms on or after August 1, 1992 are subject to redemption prior to their fixed maturity dates , at the option of the City, as a whole, or in part in inverse order o£ maturity (and by lot within any one maturity if less than all of the bonds of such maturity be redeemed) , on August 1 , 1991 , but not prior thereto , and on any interest payment date thereafter prior to their fixed maturity date or dates , at the principal amount thereof and accrued interest thereon to the date of redemption, together with a premium of one-quarter of one per cent (1/4 of 18) of such principal amount for each whole year and for any fraction of a year remaining from the date fixed for redemption to the fixed maturity date of the bonds so called for redemption. INTEREST RATE: Maximum eight per cent (8$) per annum, payable annually the first year on August 1, 1980 and semiannually there- after on February 1 and August 1 in each year . Bidders must specify the rate or rates of interest which the bonds hereby offered for sale shall bear. Bidders may specify any number of separate interest rates irrespective of the maturities of the bonds , and the same rate or rates may be repeated as often as desired; provided, however, that (i) the difference between the highest and lowest coupon rates specified in any bid shall not exceed two per cent (2$) ; (ii) each interest rate specified must be in a multiple of 1/20 of one per cent and a zero rate of interest cannot be � speci£ied; (iii) no bond shall bear more than one rate of � interest , no interest payment shall be evidenced by more than one coupon and supplemental coupons will not be permitted; (iv) each bond shall bear interest from its date to its stated maturity date at the interest rate specified in the bid; (v) all bonds of the same maturity shall bear the same rate of interest; and (vi) any premium must be paid in bank funds as part of the purchase price , and no bid will be accepted which provides for the cancellation and surrender of any interest coupon or for the waiver of interest or other concession by the bidder as a substitute for bank funds . Bids which do not conform to the terms of this paragraph will be rejected. ` •'•'4 , :; ,. • . . E • . � 19 , � � PAYMENT: Both principal and interest are payable in lawful money of the United States of America at the principal office of Bank of America National Trust and Savings Association in San Francisco, California, or, at holder' s option, at the principal office of Manufacturers Hanover Trust Company in New York, New York, or at the office of Harris Trust and Savings Bank in Chicago, Zllinois . EXECUTION AND Coupon bonds will be issued by the REGISTRATION: City. The bonds will be executed by the manual signature of at least one official authorized to execute the bonds . The bonds are registrable only as to both principal and interest , and are subject to de-registration and re- registration. PURPOSE OF ISSUE: The bonds are authorized by a vote of two-thirds of the qualified voters voting at a special bond election for the purpose of authorizing bonds for the acquisition, con- struction and completion of electric service facilities for the City. SECURITY : The bonds are general obligations of the City and the City has power and is obligated to levy ad valorem taxes for the payment of the bonds and the interest thereon upon all property within the City subject to taxation by the City (except certain personal property, which is taxable at limited rates) , without limitation of rate or amount. TAX EXEb7PT STATUS : In the event that prior to the de- livery of the bonds (i) the income received by any private holder from bonds of the same type and character shall be declared to be taxable (either at the time of such declaration or at any future date) under any federal income tax laws , either by the terms of such laws or by ruling of a federal income tax authority or official which is followed by the Internal Revenue Service, or by decision of any federal court, or (ii) any federal income tax law is adopted which will have a substantial adverse tax effect on holders of the bonds as such, the successful bidder may, at his option, prior to the tender of the bonds by the City, be relieved of his obligation under the contract to purchase the bonds and in such case the deposit accompanying his bid will be returned. LEGAL OPINION: The legal opinion of Messrs . Orrick, Herrington, Rowley & Sutcliffe of San Francisco, California, approving the validity of the bonds, will be furnished to the successful bidder without charge . A copy of the legal opinion , certi- fied by the officer in whose office the original is filed, will be printed on each bond without charge to the suc- cessful bidder. 15 �� , . � ,_ .•,• �. r t � � � � TERMS OF SALE Highest Bid: The bonds will be awarded to the highest bidder, considering the interest rate or rates specified and the premium offered, if any . The highest bid will be determined by deducting the amount of the premium bid (if any) from the total amount of interest which the City would be required to pay from the date of the bonds to their respective maturity dates at the coupon rate or rates specified in the bid, and the award will be made on the basis of the lowest net interest cost to the City. The purchaser must pay accrued interest computed on a 360-day year basis from the date of the bonds to the date of delivery. The cost of printing the bonds will be borne by the City. Right of The City Council reserves the right, Rejection: in its discretion, to reject any and all bids and to waive any irregularity or informality in any bid. Prompt Award: The City Council will take action awarding the bonds or rejecting all bids not later than 26 hours after the expiration of the time herein prescribed for the receipt of proposals, unless such time of award is waived by the successful bider . Prompt Delivery : Delivery of the bonds will be made to the successful bidder at the principal office of Bank of America National Trust and Savings Association in San Francisco, California, as soon as the bonds can be prepared (but not prior to the date of the bonds) , which delivery date is presently estimated to be August 1 , 1979 . Payment for the bonds must be made in bank funds immediately available to the City in San Francisco, California. Riqht of The successful bidder shall have the Cancellation: right , at his option, to cancel the contract of purchase if the City shall fail to execute the bonds and tender the same for delivery within sixty (60) days from the date of sale thereof, and in such event the successful bidder shall be entitled to the return of the deposit accompanying his bid. Form of Bid: All bids must be for not less than all of the bonds hereby o£fered for sale and £or not less than the par value thereof and accrued interest to date of delivery. Each bid, together with bidder' s check, must be enclosed in a sealed envelope addressed to the City Council of the City of Redding and endorsed "Proposal for City of Redding 1977 Electric System Improvement Bonds, Series B. " All bids must be delivered to the representative of the C�t�� . u. . s �', •s 16 �7 . . ;` �`' `' � � Council at the office of Messrs . Orrick, Herrington, Rowley & Sutcliffe, Eleventh Floor, 600 Montgomery Street, San Francisco, California 94111, in time to be received by 10 : 00 o ' clock A.M. on July 18, 1979 . Bid Check : With each bid must be submitted a certified check or cashier ' s check for $50 , 000 drawn on a bank or trust company transacting business in the State of California , payable to the order of the Treasurer of the City of Redding to secure the City from any loss resulting from the failure of the bidder to comply with the terms of his bid. Checks of all bidders (except the successful bidder) will be returned by the City by mail promptly following the sale date above specified. No interest will be paid upon the deposit made by any bidder . Estimate of Net Bidders are requested, but not required, interest Cost: to supply an estimate of the total net interest cost to the City on the basis of their respective bids , which shall be considered as informative only and not binding on either the bidder or the City. CUSIP Numbers : It is anticipated that CUSIP numbers will be printed on the bonds, but neither the failure to print such numbers on any bond nor any error with respect thereto shall constitute cause for a failure or refusal by the purchaser thereof to accept delivery of and pay for the bonds in accordance with the terms of the purchase contract. All expenses in relation to the printing of CUSIP numbers on the bonds shall be paid for by the City; provided, however, that the fee of the CUSIP Service Bureau for the assignment of said numbers shall be the responsibility of and shall be paid for by said purchaser. Official The City has caused an official state- Statement: ment to be prepared, a copy of which will be furnished upon request made to John Vande Pol & Associates , Box 9017 , Lafayette, California 94549 (telephone (415) 284-5862) , or upon request mailed to the Bank of America National Trust and Savings Association, Public Finance (No . 3295) , Post Office Box 37003, San Francisco, California 94137 or tele- phoned to said bank at (415) 622-2465 , or upon request made to the Public Finance Advisory, lOth floor, Bank of America World Headquarters Building, 555 California Street, San Francisco, California, co-financing con- sultants to the City for the bonds . There is no controversy or litigation• pendin�r�;!'�;a concerning the validity of the above issue , the corporate existence of the City, or the title of the officers the'reof 17 � . : ' : � � to their respective oPfices , and the City will furnish to the successful bidder a no-litigation certificate certifying to the foregoing as of and at the time of the delivery of the bonds . Dated: June 25 , 1979 . Mildred L. Brayton City Clerk of the City of Redding , California • ':1 . ; •. r"r,;ca�. 18 . . � . � � Section 7 . This resolution shall take effect from and after its passage and approval. PASSED AND ADOPTED this 25th day of June , 1979 , by the following vote : AYES: Councilmembers: Fulton, Gard, Pugh, and Demsher NOES : Councilmembers: None ABSENT: Councilmembers : Kirkpatrick <<�� �� Mayor of the City of Redding, California [SEAL] ATTEST: l/✓.���L�!�J.�� �`J..�,�..:.�,-. � City Clerk % J : , . ... `. '. 19 - �..'. . . � � CLERK ' S CERTIFICATE I , Mildreci L. Brayton, City Clerk of the City of Redding, State of California, do hereby cercify that the foregoing is a full , true and correct copy of a resolution duly adopted at an adjourned regular meeting of the City Council of said City duly and regularly and legally held at the regular meeting place thereof on the 25th day of June, 1979 , of which meeting all of the members of said City Council had due notice and at which not less than a majority of the members thereof were present and acted; that at said meeting said resolution was introduced by Councilmember Pugh � and was thereupon, upon motion of Councilmember Pugh � ' seconded by Councilmember Gard , adopted by the following vote: AYES : Councilmembers � Fulton, Gard, Pugh, and Demsher NOES : Councilmembers: None ABSENT: Councilmembers: Kirkpatrick That I have carefully compared the same with the original minutes of said meeting on file and of record in my office; that said resolution is duly entered of record in the minutes ; that the foregoing is a full , true and correct copy of the original resolution adopted at said meeting and entered in said minutes; that said resolution has not been amended, modified or rescinded since the date of its adoption and that the same is now in full force and effect. C WITNESS my hand and the seal of said City, this C� r� day of June, 1979 . Ci� , C� f t e City 'f Rec�ding � (SEAL] � )