CC Resolution 1990-041#< RESOLUTION NO. 90-41
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LA QUINTA PROVIDING FOR THE SALE OF BONDS FOR
ASSESSMENT * IN AN
AMOUNT NOT TO EXCEED * FIXING
THE TIME AND PLACE FOR TAKING BIDS, DIRECTING
PUBLICATION OF NOTICE INVITING BIDS AND
APPROVING A PRELIMINARY OFFICIAL STATEMENT
WHEREAS, the City Council of the City of La Quinta the
City") has taken proceedings pursuant to the Municipal
Improvement Act of 1913 for the formation of Assessment City
90-1 and the issuance of bonds in an amount not to exceed
$1,529,458.79 and
WHEREAS, the City desires to receive sealed bids for bonds
to be issued pursuant to the Im*r overnent Bond Act of 1915 in an
amount not to exceed $ 1'529,45*.79 to represent assessments
not paid in cash; and
WHEREAS, there has been presented to this City Council a
bidders statement and a preliminary official statement prepared
by Fieldman, Rolapp & Associates;
NOW, THEREFORE, the City Council of the City of La Quinta
DOES RESOLVE, DETERMINE AND ORDER as follows:
SECTION 1. The City does hereby call for sealed bids for
up to $ 1,529,458.79 of bonds of Assessment District No. 90-1
to be received at the office of Fieldman, Rolapp & Associates
Financial Consultant), 2100 S.E. Main Street, Suite 210,
Irvine, California 92714, up to the hour of 10:00 a.m. on
July 3, 1990. Said bids will be opened at said time and place
and presented to the City on July 3, 1990.
SECTION 2. The Financial Consultant shall cause a short
form notice inviting such bids to be given by publication once
in the BOND BUYER at least fifteen 15) days prior to the date
of sale and shall cause the Notice of Sale and Bid Form in
substantially the form attached hereto as Exhibit A to be
mailed to such persons and investment bankers known by the
Financial Consultant to have an interest in purchasing such
bonds.
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#< SECTION 3. The Notice of Sale and Bid Form as prepared and
presented by the Financial Consultant is hereby approved and
adopted, and the Financial Consultant is hereby directed to
mail copies of the Notice of Sale and Bid Form to all persons
determined to be prospective purchasers and interested in
bidding on the bonds to be issued for these proceedings, and
the Financial Consultant is hereby authorized to make minor
modifications and amendments to the Notice of Sale and Bid Form
as approved by the City Manager of the City or his designee, in
order to provide the best available information up to the date
and time for the sale. A copy of the Notice of Sale and Bid
Form is on file in the office of the City Clerk.
* The City Council will consider an award and
sale of bonds and acceptance of proposals based on the not to
exceed figure set forth in the notice inviting bids on the
bonds. The number and amount of bonds to be delivered will be
based on the assessments that are unpaid as determined at the
expiration of the cash collection period.
* The preliminary official statement presented to
this City Council on this date, is approved in substantially
the form presented. Said preliminary official statement is
authorized to be mailed to prospective bidders for Assessment
District No. 90-1 Bonds. Fieldman, Rolapp & Associates will
make such additions and corrections thereto as may be necessary
to make said preliminary official statement current prior to
mailing.
ADOPTED, SIGNED AND APPROVED this29th day of May, 1990.
SEAL)
ATT*ST:
**ityCl erk of t*i ty of La Quinta
05/14/90
9263n/258B/ll 2-
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#< STATE OF CALIFORNIA)
55.
COUNTY OF RIVERSIDE)
I, SAUNDRA JUHOLA, City Clerk of the City of La Quinta, do
hereby certify that the foregoing resolution was duly adopted
by the City Council of said City at a regular meeting of said
City Council held on the 29th day of May, 1990, and that it was
so adopted by the following vote:
AYES: Councilman Bohnenberger, Rushworth, Sniff *
Mayor Pena
NOES: None
ABSENT: Councilwoman
* *
*City Clerk of the Ci* of
La Quinta
SEAL)
STATE OF CALIFORNIA)
55.
COUNTY OF RIVERSIDE)
I, SAUNDRA JUHOLA,.City Clerk of the City of La Quinta, do
hereby certify that the above and foregoing i5 a full, true and
correct copy of RESOLUTION NO. 90-Al, of said City Council, and
that the same has not been amended Qr repealed.
*Th
DATED: May 29, 1990. j
yeQ*
*City Clerk of th*ity of
La Quinta
SEAL)
05/14/90
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