HomeMy WebLinkAboutResolution No. 4835RESOLUTION NO. 4835
RESOLUTION AUTHORIZING SALE OF BONDS
WHEREAS, the City of San Rafael has advertised for bids
for sale of bonds to be issued to represent all unpaid assessments
in East San Rafael Drainage Assessment District No. 1, Supplemental
Assessment, City of San Rafael, Marin County, California; and
WHEREAS, Morgan, Olmstead, Kennedy and Gardner have offered
to purchase all of the bonds representing unpaid assessments in
accordance with the terms and conditions of the notice of sale for
said bonds and at the following price, to wit: N i nets -f i ve and s i xty-
e i ght Hundredths percent (95.68 0) and
at the following rate of interest: Seven per cent (70) ,
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of San Rafael, Marin County, California, that said bonds to be
issued to represent unpaid assessments be sold to
Morgan, Olmstead, Kennedy and Gardner at the price named in their
bid on file herein, plus accrued interest from the date thereof until
paid and in accordance with all of the terms and conditions of the
notice of sale for said bonds.
BE IT FURTHER RESOLVED that bonds shall be issued to repre-
sent all of the unpaid assessments under the provisions of the Improve-
ment Bond Act of 1915 under the terms and conditions outlined in the
Resolution of Intention on file in these proceedings.
BE IT FURTHER RESOLVED that the amount of said bond issue
shall be determined by the amount of assessments remaining unpaid
after the expiration of the thirty -day period within which property
owners may pay all or part of their assessments in cash without interest.
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iL Rn 3 ti A IR..
I HEREBY CERTIFY that the foregoing resolution was duly
and regularly adopted by the City Council of the City of San Rafael,
Marin County, California, at a regular meeting thereof, held on the
16th day of September, 1974, by the following vote, to wit:
AYES: Councilmen Jensen, M i s k i men , N i xon and Mayor Bett i n i
NOES: Councilmen None
ABSENT: Councilmen Mul ryan
MARION A. GRADY, City Clerk,
City of San Rafael, Marin County,
California
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