HomeMy WebLinkAbout4340_CCv0001.pdf RESOLUTION NO. 4340
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDLANDS
PROVIDING FOR THE ISSUANCE OF
GENERAL OBLIGATION BONDS
SERIES 1988A
IN THE AMOUNT OF
$7, 620, 000
WHEREAS, the City Council ( the "City Council" ) of
the City of Redlands ( the "City" ) has conducted all required
proceedings pursuant to Article 1 of Chapter 4 of Division 4
of the Government Code of the State of California (commenc-
ing with Section 43600 thereof) ( the "Law" ) for the incur-
ring of a bonded indebtedness for the acquisition of certain
municipal improvements; and
WHEREAS, pursuant to the Law, at the previously
approved and scheduled General Municipal Election called to
be held in the City on November 3, 1987, there was submitted
to the qualified voters of the City the following proposi-
tion with respect to the incurring of a bonded indebtedness
and the issuance of bonds therefor :
PROPOSITION NO. 1 : Shall the City of Redlands
incur a general obligation bonded indebtedness in
the principal sum of not to exceed $7 ,620, 000 for
the acquisition of park, recreation and open space
land?
and
WHEREAS, more than two-thirds of the votes cast in
said election were cast in favor of incurring said bonded
indebtedness and issuing said bonds, and the City is now
authorized to issue bonds in the amount hereinafter speci-
fied and for the purposes set forth in said proposition; and
WHEREAS, the City Council adopted Resolution
No. 4319 on December 15, 1987 providing for the issuance of
1988 general obligation bonds; and
WHEREAS, the City Council has determined that it is
necessary and desirable that bonds be issued in the amount
and pursuant to the terms hereinafter specified;
such moneys to the issuer , the Paying Agent may (at the cost
of the City) first publish at least once in a financial
newspaper or journal a notice, in such form as may be deemed
appropriate by the Paying Agent , with respect to the provi-
sions relating to the repayment to the City of the moneys
held for the payment thereof .
Section 35 . Severability. If any covenant , agree-
ment or provision, or any portion thereof, contained in this
Resolution, or the application thereof to any person or
circumstance, is held to be unconstitutional, invalid or
unenforceable, the remainder of this Resolution and the
application of any such covenant, agreement or provision, or
portion thereof, to other persons or circumstances, shall be
deemed severable and shall not be affected thereby, and this
Resolution and the bonds issued pursuant hereto shall remain
valid and the Pondowners shall retain all valid rights and
benefits accorded to them under this Resolution and the
constitution and Laws of the State of California.
Section 36 . General Authorization . The Mayor , the
City Clerk and the Treasurer of the City are hereby each
respectively authorized to do and perform from time to time
any and all acts and things consistent with this Resolution
necessary or appropriate to carry the same into effect .
Section 37 . Effective Date. This Resolution shall
take effect upon adoption.
ADOPTED this 2nd day of Februarve 1988 .
Mayor of the City of Redlands
ATTEST:
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