HomeMy WebLinkAboutCC RES 85-126RESOLUTION N0. 85-126
RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF PALM DESERT, CALIFORNIA,
APPROVING BOND PURCHASE CONTRACT AND
PRELIMINARY OFFICIAL STATEMENT
WHEREAS, the CITY COUNCIL of the CITY OF PALM DESERT, CALIFORNIA, has heretofore
undertaken proceedings pursuant to the "Municipal Improvement Act of 1913", being
Division 12 of the Streets and Highways Code of the State of California, and has
confirmed assessments upon lands within a special assessment district described in a
Resolution of Intention previously adopted for said improvements, said special
assessment District known and designated as
NORTH SPHERE ASSESSMENT DISTRICT N0. 84-1
(hereinafter referred to as the "Assessment District"); and,
WHEREAS, said proceedings provided for the issuance of bonds pursuant to the
"Improvement Bond Act of 1915", being Division 10 of the Streets and Highways Code of
the State of California; and,
WHEREAS, there has now been presented for consideration by this legislative body a
Bond Purchase Contract; and,
WHEREAS, there has also been presented for consideration by this legislative body a
Preliminary Official Statement containing information including but not limited to
the Assessment District and the type of bonds, including terms and conditions
thereof.
NOW, THEREFORE, IT IS HEREBY RESOLVED AS FOLLOWS:
SECTION 1. That the above recitals are all true and correct.
SECTION 2. That the Bond Purchase Contract is hereby approved and accepted, and the
City Manager is authorized to execute the contract on behalf of the City.
SECTION 3. The Preliminary Official Statement, as prepared and submitted, is hereby
approved and adopted, and the execution and distribution is hereby
authorized. A copy of said Preliminary Official Statement shall be kept
on file with the transcript of these proceedings and remain open for
public inspection.
SECTION 4. The City Manager, with the concurrence of Bond Counsel, is hereby autho-
rized to approve a Final Official Statement at or prior to the bond
closing.
PASSED, APPROVED and ADOPTED by the City Council of the City of Palm Desert,
California, on this 14th day of November , 1985, by the following vote:
AYES
NOES
ABSENT
ABSTAIN
'�ATTES �
" �
BENSON, JACKSON, SNYDER, WILSON AND KELLY
NONE
NONE
NONE
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CITY OF PALM DESERT �
STATE OF CALIFORNIA
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STATE OF CALIFORNIA