CC RES 1989-060RESOLUTION N0. 89 -60
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF RANCHO PALOS VERDES PROVIDING FOR THE SALE
OF BONDS REPRESENTING UNPAID ASSESSMENTS- IN
CONNECTION WITH RANCHO PALOS VERDES IMPROVE-
MENT DISTRICT N0. 9, DEL CERRO
THE CITY COUNCIL OF THE CITY OF RANCHO PALOS VERDES
HEREBY FINDS, DETERMINES, RESOLVES AND ORDERS AS FOLLOWS:
Section 1. Definitions. Unless the context other-
wise requires, the capitalized terms used in this Resolution
shall have the meanings specified in the City Council's Resolu-
tion No.. 89 -43 In addition thereto, the following terms shall
have the following meanings :
"Proposal" means the Proposal submitted to the City and
by the Underwriter regarding the purchase of the Bonds.
"Underwriter" means Seidler - Fitzgerald Public Finance.
Section 2. Proposal. The Proposal; presented to
the City Council at this meeting and now on file in _the office. of
the City Clerk, is hereby approved, and the City Treasurer is
hereby authorized and directed to execute the Proposal and to ap-
prove modifications or changes thereto so long as the Bonds
described in such Proposal do not exceed the total aggregate
amount of unpaid assessments as shown on the List of Unpaid As-
sessments attached hereto as Exhibit A, so long as the interest
rate on the Bonds does not exceed 8.75 percent per annum and so
long as the underwriting spread with respect to the Bonds does
not exceed two-percent.
Section 3. The Underwriter is hereby authorized and
directed to furnish to purchasers of the Bonds an offering
memorandum substantially in the form and content of the draft of
the offering memorandum presented to the City Council at this
meeting and now on file in the office of the City Clerk.
Section 4. Delivery of Bonds; Temporary Bonds. The
City Treasurer is hereby authorized and directed upon completion
and execution of the Bonds and in accordance with the provisions
of City Council Resolution No. 89 -43 to deliver the Bonds to the
Underwriter. Until definitive Bonds shall be prepared, the City
Treasurer may cause to be executed and delivered in lieu of such
definitive Bonds and subject to the same provisions, limitations
and conditions as are applicable in the case of definitive Bonds,
one or more typed, printed, lithographed or engraved temporary
Bonds in fully registered form substantially of the same tenor
and, until exchanged for definitive Bonds, entitled and subject
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RESOL. 89 -60
to the same benefits and provisions of this Resolution as defini-
tive Bonds. If one or more temporary Bonds are provided, the
City Treasurer shall execute and furnish definitive Bonds without
unnecessary delay and thereupon the temporary Bonds may be sur-
rendered to the City Treasurer (or Fiscal Agent, if any) in ex-
change f o r such de f i n i t i ve Bonds;, wi thou t expense_ to the regis-
tered owner. All temporary Bonds so surrendered shall be can-
celed and filed by the City Treasurer (or the Fiscal Agent, if
any) The City Treasurer shall deliver to cause to be delivered
the Bonds to the Underwriter in accordance with the provisions of
City Council Resolution No. 89 -43 and upon receipt of the pur-
chase price therefor and accrued interest on the Bonds to date of
del-.ivery
PASSED, APPROVED -.and ADOPTED the 20 th d,ay of June ,
1989.
State of Calif ornia
County of Los Angeles ) ss
City of Rancho Palos Verdes )
I, JO PU RCELL , City Clerk of the City of Rancho Pal os
Verdes, hereby certify that the above Resolution No . 8-9; -60 was
duly and regularly passed and adopted by the said City Council at
a regular meeting thereof held on June 20, 19899
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r
Ci ty C rk
City o Rancho Palos Verdes
RE SOL . 89-60
IMPROVEMENT
DISTRICT
PARCEL N0.
RANCHO PALOS VERDES IMPROVEMENT
DISTRICT NO. 9, DEL CERRO
LIST OF UNPAID ASSESSMENTS
ASSESSOR'S
PARCEL NO.
CONFIRMED ASSESSMENT
FOR BONDED
INDEBTEDNESS
1
7581 -025 -013
$9,350
2
7581 -025 -012
$9,350
3
7581- 025 -011
$9,350
4
7581- 025 -010
$9,350
5
7581 -025 -009
$9,350
6
7581- 025 -008
$9,350
7
7581- 025 -007
$9,350
9
7581-027-005
$9r350
11
7581- 027 -027
$9,350
12
7581- 027 -026
$9,350
13
7581 - 027 -025
$9,350
14
7581 -027 -024
$9,350
15
7581 -027 -023
$9,350
16
7581- 027 -022
$9,350
17
7581 - 027 -021
$9,350
18
7581- 027 -020
$9,350
19
7581- 027 -019
$9,350
20
7581- 027 -018
$9,350
21
7581-027-017
$9r350
22
7581- 027 -016
$9,350
23
7581- 027 -015
$9,350
24
7581- 027 -014
$9,350
26
7581- 027 -012
$9,350
27
7581 -027 -003
$9,350
28
7581- 027 -002
$9,350
29
7581-027-001
$9r350
30
7581 -026 -028
$9,350
31
7581- 026 -027
$9,350
33
7581- 025 -035
$9,350
34
7581- 025 -034
$9,350
35
7581 -025 -033
$9,350
36
7581- 025 -032
$9,350
37
7581- 025 -031
$9,350
38
7581- 025 -030
$9,350
39
7581- 025 -029
$9,350
40
7581- 025 -028
$9,350
41
7581- 025 -027
$9,350
42
7581- 025 -026
$9,350
44
7581- 026 -025
$9,350
EXHIBIT A
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RESOL. 89-60
45
7581- 026 -020
$9,350
46
7581- 025 -024
$9,350
47
7581- 025 -023
$9,350
48
7581- 025 -022
$9,350
49
7581 -025 -021
$9,350
50
7581- 025 -020
$9,350
51
7581- 025 -019
$9,350
52
7581 -025 -018
$9,350
53
7581- 025 -017
$9,350
54
7581- 025 -016
$9,350
56
7581 -025 -014
$9,350
57
7581 - 026 -024.
$9,350
58
7581- 026 -023
$9,350
59
7581 - .026 -022
$9,350
60
7581 -026 -021
$9,350
TOTAL AGGREGATE OF UNPAID ASESSMENTS AND
TOTAL PRINCIPAL AMOUNT OF BONDS $504,900
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RESOL. 89 -60