1964/05/04 City Council Resolution 171'dHJ &M:JHH :gb /28/64 8C
RESOLUTION N0.''''
A RESOLUTION RESCINDING RESOLUTION NO. 236
AND AWARDING SALE OF BONDS
PROJECT 1962 -3
RESOLVED, by the City Council of the City of Rohnert Park,
successor to the Board of Directors of the Rohnert Park District
(a community services district), Sonoma County, California, that
WHEREAS, the Board of Directors of the Rohnert Park Dis-
triet did on the 6th day of August, 1962, adopt Resolution No. 236,
A Resolution Awarding Sale of Bonds, Project 1962 -3, wherein said
bonds were awarded sold to Crowell, Weedon & Company, and
WHEREAS, a revised offer to purchase bonds to be issued on
the unpaid assessments levied pursuant to Resolution of Intention
No. 226, adopted by this Board on July 2, 1962, has been received
from Crowell, Weedon & Company; and
WHEREAS, the public interest and general welfare will be'
served by acceptance of the revised offer to purchase bonds from
Crowell, Weedon & Company.
NOW, THEREFORE, IT IS ORDERED as follows:
1. That Resolution No. 236, A Resolution Awarding Sale
of Bonds, Project No. 1962 -3, adopted by the Board of Directors
of Rohnert Park District is hereby rescinded.
2. That said bonds be, and they are hereby, ordered sold
to Crowell, Weedon & Company, said sale to be subject to all of
the terms and conditions set forth in said revised bid for the
bonds dated ,LNG � / q (- f
3. That the Clerk be, and she is hereby directed to have
said bonds printed and the same signed, sealed and delivered to
said bidder upon receipt of the amount thereof, as stated in said
bid.
4. That the interest rate of said bonds be, and the same
is hereby fixed at the rate stated in said revised bid.
I hereby certify that the foregoing is a full, true and
correct copy of a resolution duly passed and adopted by the City
Council of the City of Rohnert Park, successor to the Board of
Directors of the Rohnert Park District (a community services dis-
trict), Sonoma County, California, at a meeting thereof held on
the 4th day of May, 1964, by the following vote of the members
thereof:
AYES A__ .nd in favor thereof, CCouncilmenP :� 4
NOES, Councilmen:�u/
ABSENT, Councilmen: �rexe�
IQ 'Uiji D1 t
'City Cler k .
- 2 -
OFFER TO PURCHASE BONDS
PROJECT NO. 1962 -3
ROHNERT PARK DISTRICT
Honorable City Council
City of Rohnert Park
City Hall
Rohnert Park, California
Gentlemen:
As successors to the powers of the Board of Directors of Rohnert
Park District (a community services district) we offer to purchase all
of the bonds to be issued by you upon the assessments to be levied by you
on the 41 lots in Subdivision 9, Unit B, Tract No. 278, Sonoma County
Records, pursuant to Resolution No. 226, "A Resolution of Intention to
Acquire Improvements ", adopted by the Board of Directors of Rohnert Park
District on July 2, 1962, all as shown on the diagram attached to the
assessment preliminarily approved by said Board of Directors on July 2,
1962, in the total amount of $77,900.00 upon the following terms and
conditions:
1. Said bonds will be issued pursuant to the Improvement Bond Act
of 1911, of the State of California, will be dated _N�y & 1?6 5 ,
1964, and will be issued upon the unpaid assessments of clot tb exceed
$1,900.00 per lot, as such lots are shown on the subdivision map of said
tract now on file with you, and levied pursuant to proceedings under the
Municipal Improvement Act of 1913 of the State of California, the last
installment of which bonds shall mature not to exceed fourteen (14)
years from the 2nd day of January next succeeding the next September
lst following their date.
2. The cost price to us will be 96% of the principal amount of
the bonds, and accrued interest from the date of the bonds to the date
of their delivery to the purchaser, said bonds to bear interest at the
rate of 6 per cent per annum, represented by semi- annual coupons except
that the first coupon will be for interest from the date of the bonds
to January 2, 1965, with a premium of 5% of the unmatured principal on
call.
3. The bonds shall mature in fifteen (15) equal annual install-
ments, on the 2nd day of January in each year, the first of which shall
be on the 2nd day of January next succeeding the lst day of September
next following their date.
4. The bonds, when delivered, shall be accompanied by the un-
qualified approving legal opinion of the bond law firm of Wilson,
Harzfeld, Jones & Morton, San Mateo, California, that said bonds were
validly issued, that the proceedings pursuant to which they were issued
were validly conducted and that said bonds and the assessments they
were issued to represent, and each of them, constitute valid, legal,
binding and enforceable obligations, in accordance with their tenor and
the terms of the laws pursuant to which they were issued and levied.
5. You may have to, and including, May 4, 1964, within which to
accept this offer. Unless this offer is accepted on or before said
date, it will expire and be of no further force or effect.
CROWELL, W ON & COMPANY
BY
The foregoing offer is hereby approved and its acceptance by
the City Council of the City of Rohnert Park is hereby recommended.
JHH : a mf
CORAL HOMES, INC.
BY