1968/09/03 City Council Resolution (5)WJML:PDAegmb 8/.27/68 25c
RESOLUTION N0, 68 -98
A RESOLUTION PROVIDING FOR THE ISSUANCE OF $150,000
PRINCIPAL AMOUNT OF CITY OF ROHNERT PARK GENERAL
OBLIGATION BONDS OF 1968; AUTHORIZED AT AN ELECTION
HELD IN SAID CITY ON APRIL 9, 1968; DESCRIBING THE
AMOUNT, DATE AND NUMBERS OF BONDS OF SAID AUTHORIZED
ISSUE AND OF THE COUPONS TO BE ATTACHED THERETO, AND
PRESCRIBING THE MATURITY THEREOF; FIXING THE MAXIMUM
RATE OF INTEREST ON SAID BONDS AND COUPONS, AND PRO-
VIDING FOR THE LEVY OF A TAX TO PAY THE PRINCIPAL AND
INTEREST OF SAID AUTHORIZED ISSUE
CITY OF ROHNERT PARK
GENERAL OBLIGATION BONDS OF 1968
RESOLVED, by the City Council of the City of Rohnert Park,
Sonoma County, California, that
WHEREAS, all of the requirements of law have been complied
with in calling and holding the special municipal election held
in the City of Rohnert Park on April 9, 1968, at which election
the proposition of issuing bonds in the principal amount of
$150,000 for the object and purpose hereinafter stated wassub-
mitted to the voters of the City; and
WHEREAS, the City Council did duly and regularly canvass
the returns of said election, and did count the votes cast for
and against said proposition, and did as a result of such canvass
determine and declare, and does hereby certify that said proposi-
tion received at said special municipal election the affirmative
vote of more than two - thirds of the electors voting on the prop-
osition at the election and the proposition was thereby duly
carried and adopted, and the issuance of said bonds was duly
authorized;
NOW, THEREFORE, IT IS RESOLVED, DETERMINED and ORDERED, as
follows°
la All acts, conditions and things required by law to exist,
happen and be performed precedent to and in the issuance of bonds
have existed, happened and been performed in due time, form and
manner as required by law, and the City of Rohnert Park is now
authorized pursuant to each and every requirement of law to incur
an indebtedness in the manner and form as in this Resolution
provided.
20 Bonds of the City of Rohnert Park in the aggregate prin-
cipal amount of One Hundred Fifty Thousand Dollars ($150,000) to
be known as "City of Rohnert Park General Obligation Bonds of
1968" shall be issued to pay the cost of the acquisition, con-
struction and completion of the municipal improvement of said
City set forth in the following proposition, to wits
PROPOSITION NO. la "Shall the City of Rohnert Park
incur a bonded indebtedness in
(Community Recreation the principal amount of One
Buildings) Hundred Fifty Thousand Dollars
($150,000) in accordance with
the provisions of the Ordinance calling the election at
which this proposition is submitted for the acquisition,
construction and completion of community recreation
buildings, and all acquisitions, improvements, equipment,
furniture, furnishings, facilities, appurtenances and
incidental work necessary therefor ?"
3, The said One Hundred Fifty Thousand Dollars ($150,000)
principal amount of bonds shall be issued as hereinafter set forth
and shall be sold in accordance with law at not less than their
par value and accrued interest. The bonds of said authorized
issue shall be negotiable in form and of the character known
as "Serial ", shall each be dated October 15, 1968, shall be
numbered consecutively from the earliest to the latest maturity,
shall each be of the denomination of $1,000 and shall mature and
be payable on October 15 in the total amounts per year, and of
the numbers as set forth in Exhibit "A" attached hereto and by
reference incorporated herein.
4. All of said bonds shall bear interest from their date
until paid at the rate or rates designated by the Council of the
20
City of Rohnert Park at the time of the sale of said bonds, but
not to exceed six percent (6 %) per annum, payable semianually,
evidenced by coupons attached to the bonds at the time of their
issuance, payable on the 15th day of April and October in each
year until and at the respective dates of maturity of the bonds.
Interest rates for different maturities may be in varying multiples
of any fraction or combination of fractions of 1% per annum.
5. If, upon presentation at maturity, payment of any bond
or any interest coupon thereof, or both, is not made in full
accordance with the terms of this Resolution providing for the
issuance thereof, said bond or coupon, or both, shall continue
to bear interest at the rate stated therein until paid in full.
6. Both the principal of and interest on said bonds shall
be payable at the main office of the Exchange Bank, 4th and Mendo-
cino Avenue, Santa Rosa, California, in lawful money of the United
States of America.
7. Said bonds and coupons shall each be substantially in
the form, the blanks therein to be filled with appropriate words
or figures, as set forth in Exhibit "B" attached hereto and by
reference incorporated herein.
8. The bonds shall be subject to registration in the manner
provided by law.
9. The Mayor and the City Treasurer, or one or more of his
duly authorized deputies are hereby authorized and directed,
respectively, as such officers, to execute each of said bonds on
behalf of said City, and the City Clerk, or one or more of his
duly authorized deputies, is hereby authorized and directed to
countersign each of said bonds and to affix the official seal
of said City thereto. All of the signatures and countersigna-
tures, except that of the City Clerk or his deputy, and the
3.
official seal may be printed, engraved, lithographed, stamped or
otherwise placed in facsimile upon said bonds. Said Treasurer,
or one of more of his duly authorized deputies, is hereby author-
ized and directed to sign each of the interest coupons by his
printed, lithographed or engraved facsimile signature placed
thereon. Such signing, countersigning and sealing as herein pro-
vided shall be a sufficient and binding execution of said bonds
and coupons of said City. If any officer whose signature or
countersignature appears on the bonds or coupons ceases to be
such officer before delivery of the bonds, his signature is as
effective as if' he had remained in office.
loo At the time of making the general tax levy after in-
curring the bonded indebtedness, and annually thereafter until
the bonds are paid or until there is a sum in the treasury set
apart of that purpose sufficient to meet all payments of principal
and interest on the bonds as they become due, the City Council
shall levy and collect a tax sufficient to pay the interest on
the bonds and such part of the principal as will become due before
the proceeds of a tax levied at the time for making the next
general tax levy shall be available. Said taxes shall be levied
and collected as other City taxes, and in addition to all other
taxes. The moneys derived from said taxes shall be used only for
the payment of the bonds and the interest. Said taxes, as col-
lected, shall be forthwith paid into the fund for which the same
were levied and collected and which shall be designated "City of
Rohnert Park General Obligation Bonds of 1968 Bond Fund" or other
designation sufficient to identify it and all sums to become due
for the principal of and interest on said bonds shall be paid from
such fund. There shall, likewise, be deposited in said fund all
premiums and any money received on account of interest accrued
4.
on said bonds, from their date to the date of delivery and actual
payment of the purchase price thereof.
11. There is hereby created and established a fund to be
known as the "City of Rohnert Park General Obligation Bonds of
1968 Construction Fund ", or other designation sufficient to identify
it, which shall be kept by the Treasurer of said City and who shall
also see that the proceeds of the sale of any of said bonds of
said authorized issue (except any premium and accrued interest
to the date of delivery) shall be placed by the Treasurer to the
credit of such fund and shall be kept separate and distinct from
all other municipal funds and shall be applied solely to the
object and purpose specified in the proposition authorized at
the special municipal election held on April 9, 1968, and set
forth in Section 2 of this resolution.
12. The City Clerk is directed to cause a sufficient number
of blank bonds and coupons of suitable quality to be lithographed,
printed or engraved and to cause the blank spaces thereon to be
filled in to comply with the provisions hereof, and to procure
their execution by the proper officers, and to deliver them when
so executed to the Treasurer of said City who shall safely keep
the same until they have been sold by the said Council, whereupon
he shall deliver them to the purchasers thereof on receipt of the
purchase price.
13. Said Mayor and said Treasurer and City Clerk, or one
or more of their duly authorized deputies, are further authorized
and directed to make, execute and deliver to the purchaser of
said bonds, a signature and no- litigation certificate in the form
usually required by purchasers of municipal bonds generally certi-
fying to the genuineness and due execution of said bonds, and further
certifying to all facts that in their knowledge, relative to any liti-
gation, may or might affect said City and said officers or said
5�
make, execute and deliver to the purchaser of said bonds, a
Treasurer's Receipt in the form usually required by purchasers
of municipal bonds, evidencing the payment of the purchase price
of said bonds, which receipt shall be conclusive evidence that
said purchase price has been paid and has been received by said
City.
14. Any purchaser or subsequent taker or holder of said
bonds is hereby authorized to rely upon and shall be justified
in relying upon any such signature and no- litigation certificate
and Treasurer's Receipt with respect to said bonds executed pur-
suant to the authority of this Resolution.
I hereby certify the foregoing to be a full, true and
correct copy of a resolution duly passed and adopted by the
City Council of the City of Rohnert Park, Sonoma County,
California, at a meeting thereof held on the 3rd day of
Septembe4 1968, by the following vote of the members thereof:
AYES, and in favor thereof, Councilmen: (4) Hopkins, Rogers,
Smith & Roberts
NOES, Councilmen: (0) None
ABSENT, Councilmen: (1) Buchanan
a �
eputy City Clerk
APPROVED:
Mayor
'.
EXHIBIT "A"
TOTAL AMOUNT
YEAR OF
BOND
NUMBERS
PER YEAR
MATURITY
1 -
4
$ 4,000
1969
5 -
8
4,000
1970
9
- 12
4,000
1971
13
- 16
4,000
1972
17
- 20
4,000
1973
21
- 25
5,000
.1974
26
- 30
5,000
1975
31
- 35
5,000
1976
36
- 4o
5,000
1977
41
- 45
5,000
1978
46
- 51
6,000
1979
52
- 57
6,000
1980
58
- 63
6,000
1981
64
- 70
7,000
1982
71
- 77
7,000
1983
78
- 85
8,000
1984
86
- 93
8,000
1985
94
- 101
8,000
1986
102
- 110
9,000
1987
ill
- 119
9,000
1988
120
- 129
10,000
1989
130
- 139
10,000
1990
140
- 150
11, 000
1991
T -
EXHIBIT "B"
UNITED STATES.OF AMERICA
STATE OF CALIFORNIA
COUNTY OF SONOMA
CITY _OF ROHNERT PARK
GENERAL OBLIGATION BONDS OF 1968
Noe $
The CITY OF ROHNERT PARK, a municipal corporation, organized
and existing under the Constitution and laws of the State of
California, hereby acknowledges itself indebted and for value
received promises to pay to the bearer (or if this bond be reg-
istered, to the registered owner hereof) on the 15th day of October,
19 , ONE THOUSAND DOLLARS ($1,000), together with interest there-
on at the rate of percent ( f) per annum until payment
of said principal sum in full, said interest to be payable semi-
annually on the 15th day of April and October of each year, repre-
sented by coupons attached hereto at the time of issuance. Unless
this bond is registered, such interest, prior to maturity, shall
be payable only on presentation and surrender of the proper inter-
est coupons hereto attached as they respectively become due. Both
the principal of and interest on this bond are payable, in lawful
money of the United States of America, at the main office of the
Exchange Bank, Santa Rosa, California.
If, upon presentation at maturity, payment of this bond or
any interest coupon hereof, or both, is not made in full accord-
ance with the terms of the Resolution providing for the issuance
hereof, said bond or coupon, or both, shall continue to bear in-
terest at the rate stated herein until paid in full.
This bond is one of a duly authorized issue of bonds of
said City aggregating One Hundred Fifty Thousand Dollars ($150,000)
in principal amount, all of like tenor (except for such variation,
if any, as may be required to designate varying numbers, maturity
dates, and interest rates), and is issued under and pursuant to
the ordinances and proceedings of said City duly adopted and taken
and a vote and assent of more than two - thirds of the qualified
electors of said City voting at a special election duly called
and held for that purpose.
This bond may be registered in the manner provided by law
and thereafter the principal hereof and interest hereon shall be
payable only to such registered owner.
It is hereby certified, recited and declared that all acts,
conditions and things required by law to exist, happen and to be
performed precedent to and in the issuance of this bond have
existed, happened and been performed in due time, form and manner
as required by law, and that the amount of this bond, together with
all other indebtednesses of said City, does not exceed any limit
prescribed by the Constitution or statutes of said State, and that
provision has been made, as required by the Constitution and sta-
tutes of said State, for the collection of an annual tax sufficient
EXHIBIT "B"
to pay the principal of and interest on this bond as the same
become due. The full faith and credit of said City are hereby
pledged for the punctual payment of the principal and interest
of this bond.
IN WITNESS WHEREOF, the City of Rohnert Park has caused this
bond to be executed under its official seal, signed by its Mayor
and its Treasurer and countersigned by its Clerk, and has caused
the interest coupons hereto attached to be signed by its Treasurer
and this bond to be dated the 15th day of October, 1968.
Countersigned:
Treasurer of the City of Rohnert Park
City Clerk of the
City of Rohnert Park
City of Rohnert Park, California
General Obligation Bonds of 1968
Dated October 15, 1968
on , 19
Coupon No.
Bond No.
The sum shown hereon, being interest then due, is payable to
bearer (unless the bond be registered), at the main office of
the Exchange Bank, Santa Rosa, California, in lawful money of
the United States of America.
Treasurer of the City of Rohnert Park
REGISTRATION
This bond is registered pursuant to the statute in such cases
made and provided in the name of the registered owner last entered
below and the interest and principal thereof are hereafter payable
to such owner.
DATE OF REGISTRATION
NAME OF REGISTERED OWNER
SIGNATURE OF
CITY TREASURER
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