RESOLUTION A
NO.
2180
RESOLUTION PROVIDING FOR THE BORROWING OF FUNDS AND THE ISSUANCE AND SALE OF A TEMPORARY NOTE THEREFORE FISCAL YEAR 1977-78
WHEREAS, Robles, under in the is
the
City
Council
of
the
City
of
E1
Paso
de
a municipal the
corporation and Luis laws Obispo,
duly of
organized State of of
and
existing
Constitution of San
the State
California, (which found of and
County
California has
City does
hereinafter find are for are and
sometimes determine by the the
called that City is the
the funds
"City"), in the
hereby
amount year
$200,000.00 for purposes funds and
needed which needed for and
in
the
fiscal to the wit:
1977-78 funds of taxes,
City
authorized receipt year), by to
expend City For and
(which income City and
before said Water
revenue Sewer
fiscal
salaries,
Street,
Department
expenses
obligations;
WHEREAS, 53858, (being said of both
the
City
is of
authorized the 4, for
by
Sections
53850
to
inclusive, 7.6, borrow note, said
California Part such to i,
Government Division by 2, the of
Code Title 5 of
Article to
Chapter money and
Code)
purposes avail Code
issuance the of
a temporary of said
desires of needed
itself the
provisions borrowing
Article of
said
for and
purpose
amount the
funds; of
WHEREAS, income fiscal interest and year
estimated of the
amount City
the will
uncollected be available note and
taxes, in the the
revenue 1977-78
which
for
the to
payment
of
said
thereon
amount
$3,280,000.00;
and
WHEREAS, behalf notes secured monies of in the
no
money on
has tax of
heretofore anticipation
been
borrowed or
by
or
on
City
notes or
temporary from other or
anticipation by taxes, or
thereceipt revenue, fiscal herein
of, cash
payable or
income, the
receipts and be not
for
during the
year
1977-78; to does
WHEREAS, added of the to the
amount
provided
borrowed, exceed taxes, City of
when 85%
interest
payable of and fiscal the
thereon, now
estimated cash
amount
uncollected of the
income, will note
revenue, be and
receipts in said
other year
monies for the
which said
available the
payment
interest
thereon; of is
and National to loan Trust the & Savinas said of Association of
WHEREAS, has offered to to
Bank and be
America willing by
City note
amount the City
$200,000.00 as
evidenced in IT
a temporary resolution; by the
hereinafter NOW,
described BE de
this
THEREFORE, of All E1 of Paso the so
RESOLVED as
City
Council
of
the
City i.
Robles
follows: are true and and correct, and
above
recitals
this
City 2.
Council The City,
finds,
determines to the
represents. of said Article of year from
pursuant Government needed
provisions and for in the
of
the
California said hereby America
Code by to the and
purpose fiscal of and
obtaining 1977-78, Bank the of
funds
City shall
said
determines National of
borrow
Trust
& Savinas by of the
Association issuance of one and and
W
principal note
amount to to be be
$200,000.00 the date
temporary to to be
dated in
Delivery amount, unless
thereof, to mature
numbered, interest
the at
principal maturity
bear
(payable
redeemed
prior
-2-
thereto), Number
as
follows: Maturity Date 1/30/78 and of interest the on said note of Interest Rate (per annum) 3.55% shall be only of County,
Principal Amount $200,000.00
1 Both the
principal in lawful
of
payable upon the
money and
United thereof Robles, subject time
States to San to
America, Treasurer Obispo and its
presentation City at his
surrender in Paso be
the Luis call to
office note the the to to
California. at the option date
Said of at
shall at
redemption, fixed
City,
any
prior thereof upon
maturity interest notice for of for so
principal date of
amount
and five
accrued days' the written fixed
thereon thereof
redemption of City have the
the
holder if the shall
note. have
After duly funds
date
such such the
redemption, redemption payment for of
shall
given
notice
and the
provided of and on
available on the note
principal interest as
interest note be
called
redemption, note bank when at and
such shall
shall
thereafter is
cease. sold be to
Said said
issued
and
hereby and
tlle p r i n c i p a l during or
amount
thereof to the
shall year monies
repaid
from all
taxes other
allocable revenue,
fiscal
1977-78 of the 3. said
and City For
income, available of
cash
receipts
and
lawfully the
therefore. principal all of of the for cash and interest and year monies on
payment hereby
the
note of
the the
City City
pledges from
income the
revenue 1977-78 of the
received income, available and the
taxes
fiscal
and City of
all
other
revenue, in said
receipts year and
and for
lawfully said note
fiscal thereon
the note
payment
interest
said
-3-
shall be and
constitute from the
a
first
lien
and
charge
thereon cash
and
shall
paid
first by
such the be
income, City. issued
revenue,
receipts
monies 4.
received Said note in
shall the
without form, the
coupons blanks or
and in
shall said to
be
substantially to
following
foru| wit:
bc~ f.L]loc:l :LI~ wil:h
cljq~rol~rLnt~,
words
~igures,
-4-
PASSED 1977 AYES: NOES: ABSENT: by the
AND
ADOPTED
this roll
18th vote: and
day
of
October
following
call
Hanson, None
Hurst,
Minshull
Schwartz
Councilman
Stemper
ATTEST:
-5-
STATE OF C A L I F O R N I A COUNTY OF SAN LUIS OBISPO CITY OF EL PASO DE ROBLES
I
SS.
I, ...... .DOm~.$.¢l...B.,....K..@..e..f...e..r. ...................................... , City Clerk of the City of El Paso de Rabies, California, do hereby certify that the foregoing ....R..e.s.o.1..u.t..i.on............... No ...... 2.18.0 ............. was duly and regularly adopted, passed, and approved by the City Council of the City of El Paso de Rabies, California, at o regular meeting of said City
Council held at the regular meeting place thereof, on the . . 1 8 . t h ......... day, of ..O.(~.'c.~.b.~.r 19....7. 7 .... , by the following vote:
AYES : Council men ...... ..IzI..a..n...s.o..n..,....H.u..r t , . s
..................................................................................................................................................
M.i. n @..h.u.ll....and...Sg..h..w a..r..t...z....................
NOES: Councilmen
..........
N o n°e. .. o
..................................................................................................
ABSENT: Councilmen ...S..t..e.m.p..e..r. .......................................................................................... Dated this
19th
...............................
day of
O c -t.o .b.e r. . . . . . . . . . . . . . . . .. . . . .
- ...............................
,
77
I 9 ..........
C'y Cle k (:*nd Ex-Off,¢io Cl~rk'of the City'Counc;i;"" City of £1 Paso de RoSles, Stale of Collfornio.
B
..................................................................
y
Deputy City Clerk
SIGNATURE
AND
NO-LITIGATION
CERTIFICATE
We, the u n d e r s i g n e d o f f i c e r s of the C i t y of E1 P a s o de R o b l e s ( h e r e i n a f t e r c a l l e d the " i s s u i n g b o d y " ) , S t a t e of C a l i f o r n i a , h o l d i n g the r e s p e c t i v e offices hereinbelow set o p p o s i t e o u r s i g n a t u r e s , do h e r e b y c e r t i f y t h a t on the d a t e b e l o w set f o r t h we o f f i c i a l l y s i g n e d a n d e x e c u t e d the f o l l o w i n g n o t e , to wit: Title of Note: City of E1 Paso de Robles
t>rincipal A m o u n t : D a t e of N o t e : Interest Rate: of the following number and
$200,000..00 N o v e m b e r i, 3.55% maturity, Number 1
1977
viz: Maturity 1/30/78
Amount $200,000.00 We f u r t h e r a f f i x e d to s a i d adopted, proper
c e r t i f y t h a t the s e a l of s a i d i s s u i n g b o d y is n o t e , a n d is i m p r e s s e d h e r e o n a n d is the l e g a l l y a n d o n l y o f f i c i a l s e a l of s a i d i s s u i n g b o d y .
We signing nowhold
further certify that said officers at the said note held said offices respectively, the same.
time of and that
they
We f u r t h e r c e r t i f y t h a t no l i t i g a t i o n of a n y n a t u r e is n o w p e n d i n g , or t h r e a t e n e d , restraining or e n j o i n i n g the i s s u a n c e or d e l i v e r y of s a i d n o t e or a n y p a r t t h e r e o f , or the l e v y or c o l l e c t i o n of t a x e s to p a y the i n t e r e s t and p r i n c i p a l t h e r e o f , or in a n y m a n n e r q u e s t i o n i n g the p r o c e e d i n g s or a u t h o r i t y by w h i c h s a m e is i s s u e d , or a f f e c t i n g the v a l i d i t y of the n o t e t h e r e u n d e r , a n d t h a t n e i t h e r the c o r p o r a t e e x i s t e n c e o r the b o u n d a r i e s of s a i d i s s u i n g b o d y n o r the t i t l e of a n y of s a i d o f f i c e r s to t h e i r r e s p e c t i v e o f f i c e s is b e i n g c o n t e s t e d . Dated: Signature Official Title
Barney
Schwartz
Mayor
Sidney
J.
Godsey
City
Treasurer
~ I HEREBY CERTIFY that n a m e d are g e n u i n e . Date:
Donald the
B.
Keefer of the
City
Clerk
signatures
officers
above
Authorized
Officer
-4a-
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