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R 1453 ~l, ~- ~ . RESOLUTION NO. 1453 RESOLUTION OF THE CITY COUNCIL OF THE CITY 9F ARROYO GRANDE CALLING FOR BIDS ON BONDS TO BE ISSUED TO REPRESENT UNPAID ASSESSMENTS UPON LANDS IN AN ASSESSMENT DISTRICT WHEREAS, in accordance with 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, and pursuant to Resolution of Intention No. 1435 adopted the 14th day of October, 1980, proceedings were initiated for the construction of certain public works of improvement, ( including appurtenances and appurtenant work, and acquisition where necessary, in a special assessment district known and designated as l ASSESSMENT DISTRfCT NO. 79-1 (hereinafter referred to as the "Assessment District"); and, WHEREAS, said City Council has determined that serial bonds shall be issued to finance the costs and expenses of said improvements and proceedings, pursuant to and as set forth in the "Improvement Bond Act of 1915", being Division 10'of the Streets and Highways Code of the State of California. NOW, THEREFORE, IT IS HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF ARROYO GRANDE, CALIFORNIA, AS FOLLOWS: SECTION L That the above recitals are all true and correct. SECTION 2. That this City Council does hereby call for sealed bids on the bonds proposed to be issued, to be received up to the time specified in the Notice of Sale hereinafter set forth. SECTION 3. That this City Council hereby selects and specifies l as the date of the bonds representing assessments against private property, the date specified in the Notice of Sale for that purpose, said Notice of Sale attached hereto and made a part hereof; said date is February 2, 1981. SECTION 4. That the Notice of Sale relating to the sale of the assessment bonds for the above referenced Ass~ssment District is hereby approved and adopted by this City Council, and a copy of said Notice is on file in the Office of the City Clerk of said City. SECTION 5. That the City will provide, at no expense to the bidder, the unqualified legal opinion of F. MACKENZIE BROWN, Attorney at Law, attesting to the validity of the proceedings and the fnforceability of the bonds; a copy of said opinion to be printed on each bond. SECT I ON 6. That this City Council ~ereby directs STONE & YOUNGBERG i to mai 1 copies of the approved Notice of Sale to all persons so determined to be prospective purchasers and interested in bidding on the bonds to be issued I for these proceedings, said bonds to be issued pursuant to the provisions of , the "Improvement Bond Act of 1915", being Division 10 of the Streets and Highways Code of the State of California. SECTION 7, That the official statement and bond prospectus for these proceedings, as prepared by STONE & YOUNGBERG and as presented to this City Counci 1 is hereby approved and adopted. A copy of said official statement shall be mailed, togetber with the Notice \ -------_.~,.._-_.- -- -~.... -.--....,---.. --~_.- t ..L ':t .-- ....... j. , of Sale, to all persons determined to be interested in said purchase. Further, a copy of said official statement and bond prospectus shall be on file in the Office of the City Clerk and open for public inspection. APPROVED AND ADOPTED THIS 13th day of January, 1981. -~ '-- / . .' ~.. .,L MAYOR ;// ATTEST: I ~t....... d ,..~ .