HomeMy WebLinkAboutRDA RES 174RESOLUTION NO. 174
RESOLUTION OF THE PALM DESERT
REDEVELOPMENT AGENCY CAUSING TO BE
ISSUED A NEW BOND IN REGISTERED FORM
TO REPLACE A LOST BOND.
WHEREAS, the Palm Desert Redevelopment Agency has been
informed that a Bondholder of that certain issue of Bonds
designated "Palm Desert Redevelopment Agency, Project Area No. 1,
As Amended, Issue of 1982,"lost his coupon Bond. The Agency has
further been informed that such Bondholder, Mr. Edwin Thompkins
of 1800 Madison Avenue, Charlotte, North Carolina, was the Holder
of coupon Bond No. 237 in the principal amount of $5,000.00, and
that Mr. Thompkins has requested that such lost Bond be replaced
with a Bond in fully registered form.
WHEREAS, Section 21 of Resolution No. 154, as amended,
of the Agency, provides that in such circumstances the Agency
shall cause to be issued a new Bond similar to the original in
such manner and upon such reasonable terms and conditions as may
from time to time be determined and described by Resolution.
WHEREAS, the Agency is in receipt of a copy of a surety
bond in favor of City National Bank, Fiscal Agent of the Agency,
regarding such lost Bond.
NOW, THEREFORE, THE PALM DESERT REDEVELOPMENT AGENCY
HEREBY FINDS, DETERMINES, RESOLVES AND ORDERS AS FOLLOWS:
SECTION 1. City National Bank, Fiscal Agent for the
Agency in connection with the above described issuance of
Bonds, is hereby authorized and directed to cause to be provided
to Mr. Edwin Thompkins, of 1800 Madison Avenue, Charlotte, such
coupon Bond No. 237. The members of the Agency and its officers
are hereby authorized and directed to take all actions and do
all things necessary or appropriate in connection with providing
such new Bond, including, without limitation, the signing of
documents with regard thereto.
SECTION 2. City National Bank is hereby further authorized
and directed to cause to be paid to Mr. Thompkins interest payments
on such lost coupon Bond which he would otherwise have received on
March 1, 1983 and September 1, 1983.
PASSED, APPROVED and ADOPTED this loth day of
November , 1983, at a regular meeting of he Palm Desert
Redevelopment Agency, by the following vote, to wit:
AYES: Jackson, Kelly, Puluqi, Wilson & Snyder
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
SHEILA R.LLIGAN,
CLERK
WALTER H. SNYDER, QAAIRMAN