HomeMy WebLinkAboutReso 82-149 - Ordering Sale of Bonds Western Ranches Water Assessment District No. 1981-5 ~ • •
RESOLUTION NO. &Z -/`/f
RESOLUTION ORDERING SALE OF BONDS
• WESTERN RANCHES WATER ASSESSMENT DISTRICT NO. 1981-5
The City Council of the City of Redding resolves :
The City Council accepts the offer of
M. L. Stern & Co. Inc .
(attached to this resolution and by reference incorporated
in it) , to purchase all of the improvement bonds to be
issued in Western Ranches Water Assessment District
No. 1981-5 , 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 7th day of September , 1982 .
AYES : Councilmembers Demsher, Fulton, Kirkpatrick, and Gard
NOES : Councilmembers None
ABSENT : Councilmembers Pugh
ETHEL A . NICHOLS , City Clerk , City of
Redding , Shastata County, California
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By (r ,v 74i.,O�Q/
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MUNICIPAL BONDS
A
September 7, 1982
City Clerk
City of Redding
760 Parkview Avenue
Redding, California 96001 .
Re: City of Redding, Western Ranches Water Assessment District
No. 1981-5
L,i
Gentleman,
For $290,525.00 par value legally issued City of Redding, Western
6:': '-`. ?:- : Ranches Water Assessment District No. 1981-5 Assessment Bonds
` - scheduled to be sold by you on September 7, 1982, maturing serially -
^ ,;;- ; ;rl on July 2, from 1984 to 1998, and subject to all of the terms and
conditions of your Official Notice of Sale, we will pay vs-Og
--').'' :` : of the par value thereof, plus accrued interest to the date of de-
.;: - i livery, for bonds bearing interest as follows:
°-. 7, 7S -6, «F /t 7s'
.- /�J'?'� /72F r
7-76' 6 ...
This bid is made for immediate acceptance and subject to the
unqualified approving legal opinion of Sturgis, Ness, Brunsell &
. ; Sperry to be furnished to us at City Expense. A certified copy
of the legal opinion is to be printed on each bond at City expense,
: - although this is not a condition of sale 14:, <- i
We enclose cashier's check No.212114 in the amount of $ 2000.00
-. to be held uncashed by you as evidence of our good faith. This
check is to be returned to us if the above-mentioned attorney
does not approve the legality of the bonds, or to be forfeited -
as full liquidated damages if we fail to fulfill the terms of
,,'4 ..: ` ' this proposal. This check is to be innediately returned to us if ..
this proposal is not promptly accepted. .
This bid is submitted in duplicate, one copy to be officially ':*
signed and returned to us if we are awarded the bonds.
Estimated Interest Cost, Including Discount
Very truly yours,
. /317 ,i 7V-"S° M.L. STERN & CO. , INC. •
Average Net Interest Cost ,
• /p. C 7 74-2_ % By
The foregoing proposal is hereby accepted on behalf of the above-
named , and receipt of the •
cashier's check is hereby acknowledged. .
8350 Wilshire Boulevard Beverly Hills. CA 90211 (213) 650-4001 •
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• Branch Office:Carmel Member: NASD.SIPC •r
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