HomeMy WebLinkAbout90-13 - Sale of BondsRESOLUTION NO. 90 -13
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
NEWPORT BEACH, CALIFORNIA, ACCEPTING PROPOSAL
FOR SALE OF BONDS
WHEREAS, the CITY COUNCIL of the CITY OF NEWPORT BEACH, CALIFORNIA, has
initiated proceedings under the terms and provisions of the "Municipal Improvement
• Act of 1913 ", being Division 12 of the Streets and Highways Code of the State of
California, for the construction of certain public works of improvement, together
with appurtenances and appurtenant work, in a special assessment district known and
designated as ASSESSMENT DISTRICT NO. 58 (CANNERY VILLAGE) (hereinafter referred to
as the "Assessment District "); and,
WHEREAS, said proceedings shall be funded pursuant to the terms and provisions
of the "Improvement Bond Act of 1915 ", being Division 10 of said Code; and,
WHEREAS, there has now been received, in proper form, a proposal for the
purchase and sale of said bonds to issue under said proceedings, and said proposal
received is, in the opinion of this legislative body, considered to be the proposal
that would best serve the interests of owners of land included within the Assessment
District and should be accepted.
NOW, THEREFORE, IT IS HEREBY RESOLVED AS FOLLOWS%
SECTION 1. That the above recitals are all true and correct.
SECTION 2. That the proppsal received from MILLER & SCHROEDER FINANCIAL, INC.
for the purchase of improvement bonds representing unpaid assessments in said
Assessment District is hereby accepted and approved.
SECTION 3. That said acceptance is subject to all the terms and conditions as
set forth in the underwriting agreement.
APPROVED and ADOPTED this 12th dayepf Feb r`u'arr , 1990.
MAYOR
CITY OF NEWPORT BEACH
STATE OF CALIFORNIA
ATTE
T:
CITY CLERK)�•�
CITY OF NEWPORT BEACH
STATE OF CALIFORNIA
s
STATE OF CALIFORNIA
COUNTY OF ORANGE
CITY OF NEWPORT BEACH
I, WANDA E. RAGGIO, CITY CLERK of the CITY OF NEWPORT BEACH, CALIFORNIA, DO
HEREBY CERTIFY that the foregoing Resolution, being Resolution No. 90 -13 , was
duly passed, approved and adopted by the City Council, approved and signed by the
• Mayor, and attested by the City Clerk, all at the regular meeting of said City
Council held on the 12th day of February , 1990, and that the same
was passed and adopted by the following vote:
AYES: COUNCIL MEMBERS TURNER, WATT, SANSONE, PLUMMER, HART, STRAUSS, COX
NOES: COUNCIL MEMBERS NONE
ABSENT: COUNCIL MEMBERS NONE
ABSTAIN: COUNCIL MEMBERS NONE
EXECUTED this �ay of , 990, at Newport Beach, California.
CITY CLERK
CITY OF NEWPORT BEACH
STATE OF CALIFORNIA ?�
[SEAL]
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