HomeMy WebLinkAboutReso. 1981 - 218 - Ordering sale of bonds - Western Oaks Estates Unit No. 1 Assessment District No. 1979-4RESOLUTION NO.
RESOLUTION ORDERING SALE OF BONDS
WESTERN OAKS ESTATES UNIT NO. 1 ASSESSMENT DISTRICT NO.
1979-4
The City Council of the City of Redding resolves:
The City Council accepts the offer ofIBIRR, WILSON
& CO., INC., (attached to this resolution and by reference
incorporated in it), to purchase all of the implrovement bonds
to be issued in Western Oaks Estates Unit No. 1 Assessment
District No. 1979-4, City of Redding, Shasta County,
California.
I
The City Council directs the sale and delivery of
the bonds to the offeror in accordance with thelterms and
conditions stated in the offer.
The bonds are to be dated October 15, 1981.
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 September, 1981.
AYES: Councilmembers Demsher, Fulton, Gard, Kirkpatrick, and Pugh
NOES: Councilmembers None
ABSENT: Councilmembers None
ETHEL A. RICHTER, City Clerk,
City of Redding,) Shasta County,
California
a
By
CMD ��
CHICO
CUPERTINO
EUREKA
FAIRFIELD
GRASS VALLEY
MENLO PARK
OAKLAND
OROVILLE
PARADISE
PETALUMA
RED BLUFF
REDDING
SAN RAFAEL
SANTA ROSA
VALLEJO
YUBA CITY
BOISE, IDAHO
NEW YORK CITY
PORTLAND, OREGON
RENO. NEVADA
POULSBO, WASHINGTON
SEATTLE, WASHINGTON
0 r
BIRR, WILSON & CO., INC.
MEMBER
NEW YORK STOCK EXCHANGE. INCORPORATED
September 21, 1981
City Council
City of Redding
Redding, California
MAIN OFFICE
155 SANSOME STREET
SAN FRANCISCO, CALIFORNIA 94104
(415) 983-7700
MAILING ADDRESS
P.0. BOX 3548
SAN FRANCISCO. CALIFORNIA 94119
Re: Western Oaks Subdivision, Unit #1, Assessment District
No. 1979-4. City of Redding, California
Dear Council Members:
This is to advise you that Birr, Wilson & Co., Inc. agree to
purchase the bonds to be issued by the City of Redding on the
above described Assessment District under the following terms
and conditions:
1. The bonds will be issued under the Municipal Improvement
Act of 1913 pursuant to the Improvement Act of 1915.
2. The bonds will be issued in the amount of $462,000, bear
a coupon rate of ten percent per annum and mature in accord-
ance with the following schedule:
Date of Maturity Amount
7-2-83 27,000
7-2-84 35,000
7-2-85 50,000
through
7-2-92 (each year)
3. The price to be paid shall be eighty-two percent (82%) of
the total par value.
4. The approving legal opinion of Messr's Sturgis, Ness, Brun -
sell and Sperry shall accompany the bonds when delivered.
Very truly yours,
BIRR, WILSON & CO., INC.
i
Donald L. Wetmore
President