CC Resolution 1991-0622
^ ?rCITY COUNCIL OF THE CITY OF LA QUINTA
RESOLUTION NO. 91-61
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF LA QUINTA. CALIFORNIA, PROVIDING FOR THE
ISSUANCE AND SALE OF BONDS FOR ASSESSMENT
DISTRICT NO. 91-1 IN THE AMOUNT OF
$2,240,866.05
Adopted on July 23, 1991
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TABLE OF CONTENTS
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SECTION 1. UNPAID ASSESSMENTS...................................2
SECTION 2. ISSUANCE OF BONDS; MATURITY
OF PRINCIPAL.........................................2
SECTION 3. INTEREST.............................................3
SECTION 4. EXECUTION AND AUTHENTICATION.........................3
SECTION 5. MANNER AND PLACE OF PAYMENT..........................4
SECTION 6. REDEMPTION PRIOR TO MATURITY.........................4
SECTION 7. TRANSFER AND REGISTRATION............................4
SECTION 8. TRANSFER AND EXCHANGE OF BONDS.......................5
SECTION 9. BONDS MUTILATED, DESTROYED,
STOLEN OR LOST.......................................6
SECTION 10. PREPARATION OF DEFINITIVE BONDS;
TEMPORARY BONDS......................................6
SECTION 11. REDEMPTION FUND......................................7
SECTION 12. BOND PROCEEDS........................................7
SECTION 13. RESERVE FUND.........................................7
SECTION 14. IMPROVEMENT FUND.....................................8
SECTION 15. PAYING AGENT..........................................9
SECTION 16. UNPAID ASSESSMENTS AS TRUST FUND......................9
SECTION 17. FEDERAL TAX COVENANTS.................................9
SECTION 18. REBATE FUND..........................................10
SECTION 19. DEFINITIONS..........................................13
SECTION 20. INVESTMENT ON FUNDS..................................14
SECTION 21. COVENANTS............................................15
SECTION 22. INCONTESTABILITY.....................................16
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SECTION 23. CONTRACT WITH BONDHOLDERS...........................16
SECTION 24. CESSATION OF AGREEMENTS.............................16
SECTION 25. PARTIAL INVALIDITY..................................17
SECTION 26. LIBERAL CONSTRUCTION................................17
SECTION 27. NO CITY OBLIGATION..................................17
SECTION 28. AMENDMENTS..........................................17
SECTION 29. AUTHORIZATION OF OFFICERS...........................18
SECTION 30. EFFECTIVE DATE......................................18
EXHIBIT A
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