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HomeMy WebLinkAboutReso. 78-053 - Appointing the Bank of America as Paying Agent for the City of Redding Special Assessment Bonds Issued Pursuant to the Improvement Bond Act of 1915 RESOLUTION NO. 725%,/3 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING APPOINTING THE BANK OF AMERICA AS PAYING AGENT FOR CITY OF REDDING SPECIAL ASSESSMENT BONDS ISSUED PURSUANT TO THE IMPROVEMENT BOND ACT OF 1915. WHEREAS, the City of Redding now has outstanding certain special assessment bonds issued pursuant to the Improvement Bond Act of 1915 , and WHEREAS , the City of Redding is acting as paying agent for these special assessment bonds, and WHEREAS, it is anticipated that the City of Redding will authorize additional special assessment bonds to be issued pursuant to the Improvement Bond Act of 1915, and WHEREAS, the City Council of the City of Redding has determined that certain economies will result from having existing and future special assessment bond issues serviced on a contractual basis by a paying agent, NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Redding that the principal office of the Bank of America National Trust and Savings Association in San Francisco, California, is hereby appointed Paying Agent for all City of Redding special assessment district bonds issued pursuant to the Improvement Bond Act of 1915. 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 3rd day of April , 1978 , and was duly adopted at said meeting by the following vote: AYES : COUNCILMEN: Fulton, Gard, Kirkpatrick, Pugh, and Demsher NOES : COUNCILMEN : None ABSENT: COUNCILMEN: None ATTEST: _/ ONALD M. DEMSHER ( ��%;i ,/ -�V��� ,: ./"„ Mayor of the City of Redding MILDRED L. BRAYTON', City Clerk FORM APPROVED: /Dor J'✓t0, 424/�.�, EARL D. MURPHY, dity /Attorney oo pvt` F .