R 1224
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RESOLUTION NO. 1224
CITY OF ARROYO GRANDE
RESOLUTION OF THE CITY COUNCIL CALLING FOR
BIDS ON BONDS TO BE ISSUED TO REPRESENT
UNPAID ASSESSMENTS UPON LANDS IN AN ASSESS-
MENT DISTRICT.
ASSESSMENT DISTRICT NO. 74-1
(RUTH ANN WAY)
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 pursu-
ant to Resolution of Intention No. 1210 adopted the 23rd day
of MARCH, 1976 , proceedings were initiated for the
construction of certain public works of improvement., including
appurtenances, appurtenant work and acquisition, where necessary,
in a special assessment district known and designated as
ASSESSMENT DISTRICT NO. 74-1
(RUTH ANN WAY)
(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
AS FOLLOWS:
SECTION 1. 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 b. received up
to the time specified in the Notice of Sale hereinafter set forth.
SECTION 3. That this City Council hereby selects and
specifies as the date of the bonds representing assessmenta against
private property, the date specified in the Notice of Sale for
that purposes, said Notice of Sale attached hereto and made a
part hereof; said date is July 2, 1976,
SECTION 4. That the Notice of Sale relating to the
sale of the assessment bonds for the above-referenced assessment
district is hereto 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 enforceability of the bonds; a copy of said opinion to be
printed on each bond.
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EXHIBT A
NUMBERS. DENOMINATIONS AND MATURITIES OF BONDS
. AMOUNT OF BOND ISSUE: $259.235.90
CITY OF ARROYO GRANDE
Assessment District No. 74-1
(Ruth Ann Way)
Bond No. Maturity Denominations Total
l' 1977 $4,235.90 ) $ 14.235.90
2-3 1977 5,000.00 )
4-5 1978 5,000.00 10.000.00
6-7 1979 5,000.00 10,000.00
8-9 1980 5,000.00 10.000.00
10-12 1981 5,000.00 15.000.00
13-15 1982 5,000.00 15,000.00
16-18 1983 5.000.00 15.000.00
19-21 1984 5,000.00 15.000.00
22-24 1985 5,000.00 15,000.00
25-28 1986 5,000.00 20,000.00
29-32 1987 5,000.00 20,000.00
33-36 1988 5,000.00 20,000.00
37-41 1989 5,000.00 25,000.00
42-46 1990 5,000.00 25,000.00
47-52 1991 5.000.00 30.000.00
Total $259,235.90
i
Resolution No, 1224
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SECTION 6. That this City Council hereby directs
STONE & YOUNGBERG MUNICIPAL FINANCING CONSULTANTS, INC.
to mail 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 for these proceedings, said
bonds to be issued pursuant to the provisions of the "Improve-
ment 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 MUNICIPAL FINANCING CONSULTANTS, INC.
and as presented to this City Council is hereby approved and
adopted. A copy of said official statement shall be mailed, to-
gether with the Notices 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 ~ day of June, 1976 .
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YOR
CITY OF ARROYO GRANDE
STATE OF CALIFORNIA
ATTEST:
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CITY CLE '
CITY OF ARROYO GRANDE
STATE OF CALIFORNIA
2.
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STATE OF CALIFORNIA )
COUNTY OF SAN LUIS OBISPO ) ss
CITY OF ARROYO GRANDE )
I, Ines A. del Campo , City Clerk of the
City of ARROYO GRANDE , California, DO HEREBY CERTIFY
that the foregoing Resolution, being Resolution No. 1224 ,
was duly passed, approved and adopted by said City Council,
approved and signed by the Mayor, and attested by the City Clerk,
all at a rl'Jll1ar meeting of said City Council held on the
-8.tb. day 0 June , 1976, and that the same was
passed and adopted by the following vote, to wit:
AYES: Councilmen Spierling, Gallagher, Schlegel, Millis and
Mayor de Leon
NOES: None
ABSENT: None
DATED this 8th day of June , 19 76 .
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(SEAL) ~~4 ;;!.cAJ I'~~;>
CITY CLERK
CITY OF ARROYO GRANDE
STATE OF CALIFORNIA
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