CC Resolution 8353
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RESOLUTION NO. 8353
A RESOLUTION AUTHORIZING EXECUTION OF BOND PURCHASE
CONTRACT
CITY OF CAMPBELL
Dillon-Gilman Ltlcal Imnrovement District No. 30
RESOLVED, by the City Council (the "Council") of the City of Campbell (the "City"),
County of Santa Oara. State of California, that
WHEREAS, on this date, Stone & Youngberg (the "Underwriter") has presented to the
Council, a contraCt (the "Bond Purchase ContraCt") for the purchase of not to exceed $666,471 par
value of Limited Obligation Improvement Bonds, City of Campbell, Dillon-Gilman Local
Improvement DiStrict No. 30, Series 1992 (the "Bonds") to be issued by the City in proceedings
undertaken pursuant to Resolution No. 8186, entitled UA Resolution of Intention to Make
Acquisition and Improvements," adopted by the Council on October 21. 1991;
WHEREAS, a copy of the Bond Purchase Contract is on file in the office of the City
Clerk and reference is hereby made thereto for further particulars:
WHEREAS, the Council has previously approved the form of the Bond Purchase
Contract; and
WHEREAS, the public interest and convenience will be served by entering into the Bond
Purchase Contract;
NOW THEREFORE, IT IS ORDERED, as follows:
1. The Bond Purchase Contral:t is hereby approved and the Finance Director of the
City. or her designee, is hereby authorized and directed to execute and deliver the Bond Purchase
Contract, for and on behalf of the City.
2. The foregoing approval is hereby expressly conditioned upon the satisfaction of the
following: (i) the total principal amount of the Bonds shall not exceed $666,4;'1; (ii) the average
interest cost of the Bonds shall not exceed eight percent (8%) per annum; and (ill) the
Underwriter's discount for the Bonds shall not eX.ceed two and one-half percent (2 1/2%) of the
principal amount of the Bonds.
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The foregoing resolution was introduced at a regular meeting of the Council of the City of
Campbell held on the 7th day of July , 1992. was passed and adopted by the
following vote:
AYES: Councilmembcrs:
Kotowski, Conant, Ashworth, Watson, Burr
NOES: Councilmembe:rs:
None
ABSENT: Councilmembers:
None
ATI'EST:
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Barbara ee
City Oerk
APPROVED:
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Donald R. Burr
Mayor "
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