HomeMy WebLinkAboutCC RES 95-092RESOLUTION NO. 95-92
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PALM DESERT AMENDING RESOLUTION NO. 95-84 TO
INCREASE THE AUTHORIZED PRINCIPAL AMOUNT OF
REFUNDING BONDS FOR ASSESSMENT DISTRICT
NO. 87-1
WHEREAS, on August 24, 1995 the City Council (the "City
Council") of the City of Palm Desert (the "City") adopted
Resolution No. 95-84 authorizing the issuance and sale of refunding
bonds for Assessment District No. 87-1 (the "Assessment District")
in an aggregate principal amount not to exceed $1,700,000; and
WHEREAS, the City Council has been advised that it has
been determined that in order to defease and refund the outstanding
bonds for the Assessment District (the "Outstanding Bonds") it will
be necessary that refunding bonds be sold therefor in the aggregate
principal amount of approximately $1,800,000, and that Resolution
No. 95-84 should therefore be amended to authorize the issuance and
sale of refunding bonds for the Assessment District in an aggregate
principal amount not to exceed $1,900,000;
NOW, THEREFORE, the City Council of the City of Palm
Desert, California, DOES HEREBY RESOLVE AND ORDER as follows:
Section 1. The issuance of not to exceed $1,900,000
aggregate principal amount of Bonds in order to refund and redeem
the Outstanding Bonds is approved, and Section 1 of Resolution
No. 95-84 is amended accordingly.
Section 2. Resolution No. 95-84, as amended hereby, is
hereby ratified and shall continue in full force and effect, and
all actions of the officers and staff of the City taken to
effectuate the purpose of said resolution are hereby ratified.
This resolution shall take effect upon adoption.
PASSED, APPROVED AND ADOPTED this 20th day of September,
1995 by the following vote:
AYES: BENSON, KELLY, SNYDER, CRITES
NOES: NONE
ABSENT: SPIEGEL
ABSTAINED: NONE
Crites, Mayor of the
'-� City of /Palm Desert, California
ATT T:
L. .:L. /,..k C. r -1 !j1-7c.�
Sheila R. Gilligan, City Clerk
of the City of Palm. -Desert, California
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I, Sheila R. Gilligan, City Clerk of the City of Palm
Desert, California, do hereby certify that the foregoing resolution
was regularly introduced and adopted by the City Council of the
City of Palm Desert, California, at a special meeting thereof held
on the 20th day of September, 1995 by the following vote of the
Council:
AYES: BENSON, KELLY, SNYDER, CRITES
NOES: NONE
ABSENT: SPIEGEL
ABSTAINED: NONE
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the official seal of the City of Palm Desert, California,
this 21st day of September _.
, 1995.
City Clerk—Of/the Ci't of
Palm Desert, Califo a
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STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE )
ss.
I, Sheila R. Gilligan, City Clerk of the City of Palm
Desert, California, DO HEREBY CERTIFY that the above and foregoing
is a full, true and correct copy of Resolution No.95-92 and that
the same has not been amended or repealed.
DATED:
September 21
City Clerk -of the City of
Palm Desert, California
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