HomeMy WebLinkAbout1990-08-28; City Council; Resolution 90-320I
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RESOLUTION NO. 90-320
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA, APPROVING BOND PURCHASE
CONTRACT AND PRELIMINARY OFFICIAL STATEMENT
WHEREAS, the CITY COUNCIL of the CITY OF CARL:
CALIFORNIA, has heretofore undertaken proceedings purguan
the "Municipal Improvement Act of 1913", being Division 1
the Streets and Highways Code of the State of California,
has confirmed assessments upon lands within a special asses!
district described in a Resolution of Intention previc
adopted for said improvements, said special assessment Disi
known and designated as ASSESSMENT DISTRICT NO. 88-1 (ALGA 1
(hereinafter referred to as the "Assessment District"); and,
WHEREAS, said proceedings provided for the issuanc
bonds pursuant to the "Improvement Bond Act of 1915", 1
Division 10 of the Streets and Highways Code of the Stat
California; and,
WHEREAS, there has now been presented for consideratic
this legislative body a Bond Purchase Contract; and,
WHEREAS, there has also been presented for consideratic
this legislative body a Preliminary Official Statement con.
ing information including but not limited to the Asses;
District and the type of bonds, including terms and condi.
thereof.
NOW, THEREFORE, IT IS HEREBY RESOLVED AS FOLLOWS:
SECTION 1. That the above recitals are all true
correct.
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SECTION 2. That the Bond Purchase Contract submitte
Smith Barney, Harris Upham & Co., Inc. is hereby approved
accepted, and the City Manager is authorized to execute
contract on behalf of the City.
SECTION 3. The Preliminary Official Statement, as pre]
and submitted, is hereby approved and adopted, and the exec1
and distribution is hereby authorized. A copy of said Pre.
nary Official Statement shall be kept on file with the A
script of these proceedings and be open for public inspectio~
SECTION 4. The City Manager, with the concurrence of
Counsel, is hereby authorized to approve a Final Official S.
ment at or prior to the bond closing.
PASSED, APPROVED AND ADOPTED by the City Council of
City of Carlsbad at its regular meeting held on the 28th
of August , 1990, by the following vote, to wi
AYES: Council Members Lewis, Larson and Pettine
NOES: None
ABSENT: Council Members Mamaux
ATTEST:
ALETHA L. R’AU
(SEAL)