HomeMy WebLinkAboutResolution 9534 N.C.S. 08/16/1982~\~ ~,_
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Ri,SOLUTION NO . 9534 N. C. S.
SU.PPLEMENTAL RESOLUTION PROVIDING FOR THE
ISSUANCE OF $2,570,OOD PRINCIPAL AMOUNT OF
GR,ANT ANTICIPATION NOTES O.F TM-E CITY OF
PETALUMA, CALIFORNIA, RATI,FYI.NG AND
CONFIRMING THEIR SALE AND AMENDING A
PRIOR RESOLUTION.
BE IT RESOLVED BY THE COUNCIL OF THE CITY QF PETALUMA,
CALIFORNIA, AS FOLLOWSc
Section 1. Short Title. This resolution may be cited
and referred to as the "First Supplemental Resolution".
Section 2. Definitions. As used in the First SuppTe-
mental Resolution, "Resolution" shall mean the resolution adopted ~
by the Council of the City on August 2, 1982 and entitled "Resolu-
tion Authorizing the Issuance of Grant Anticipation Notes of the
City of Petaluma, California", and any word or term defined in.
Section ID1 of the Resolution shall have the meaning ascribed to
it in said Section 101.
Section 3. Sale of,Notes. The action of the City
Manager in awarding and selling $2,570,000 principal amount of
the Notes to E. F. Hutton & Company Inc. (the "Purchaser") at
the price of $2,518,500, plus,interest accrued to the date of
delivery, and in executing and delivering the Purchase Contract
with resPect to the Notes submitted by the Purchaser and on file
in the office, of the City Clerk, is hereby ratified ~nd confirmed.
Section 4. Interest Rate. The Notes shaTl bear inter-
est at the rate of eight and three quarters per cent (8 3/4.%) per
annum.
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Section 5. Appointment of Fiduciaries. First Inter-
state Bank of California, a bank or trust company having a
corporate trust office in the City of San Francisco, California,
is hereby appointed Fiscal Agent and a Paying Agent for the
Notes. Bankers Trust Company, a bank or tr`ust company having its
principal corporate trust office in the City of New York, New York,
is hereby appointed a Paying Agent for the Notes. The Notes
sha11 be payable as to both principal and ihterest at such offices
of the Paying Agents.
Section 6. Approval of Official Statement. The
Official Statement dated August 16, 1982, prepared and distri-
buted in connection with t,he sale of the Notes and on file in the
office of the City Clerk, is hereby approved, and the City Manager
is hereby authorized to execute the Official Statement, with such
changes as he may approve, and to deliver it to the Purchaser for
distribution in connection with the offering and sale of the
Notes.
Section 7. Amendment of the Resolution. Section 101
of the Resolution is hereby amended to the extent and with the
effect that the definition of "Agency Security" shall read as
follows:
"Agency Security" means any bond, debenture,
note or other evidence of.indebtedness issued by
any of the following a.gencies: Banks for Coopera-
tives; Federal Farm Credit Banks; Federal Intermediate
Credit Banks; F~ederal Home Loan Bank System;
Export-Import B~ank of the United States; Federal.
Land Banks; Federal National Mortgage Association;
Government National Mortgage Association.
Section 8. Effective Dates. This `First Supplemental
Resolution shall take effect immediately.
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PASSED AND ADOPTED on .Auaust.' 16, 198'2, by the following
vote:
Ayes: GOU~ICILMEN BALSHAt~J/BATTAGLIA/BOND/CAVANAGH/
VICE-P~IAYOR PLRRY/MAYOR MATTEI
Noes: NONE
Absent: COUNCIL~'IAN HARBrRSON
Approved:
/s/
M a r F D V. N TTE I
(Seal)
Attes t :
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/s/ ~ ~
Deputy City C erk
Arline Devine
RDR:Imc
8/12/82
AN244-D
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