HomeMy WebLinkAboutRESO 5396• ·~ . •
~JML:KlJ:vm 4/25/77 70c
ORlGlNAL
. RESOLUTION NO. 5396
A RESOLUTION APPROVING NOTICE OF SALE
AND OFFICIAL STATEMENT AND AUTHORIZING
~~D DIRECTING CERTAIN ACTIONS WITH
RESI'ECT THERETO
ti"NI\r"ERSITY AVENUE AREA OFFSTREBT PARKING ASSESSMENT DISTRICT
PROJECT NO. 75-63
RESOLVED, b}'· the Council of the City of Palo Alto, California,
that
WHEREAS, this City proposes to issue and sell $791,000 prin-
cipal amount of special assessment bonds, authorized to be issued
by Resolution No. ~5~3~9_5~~-; adopted May 2, 1977
WHEREAS, pursuant to this Council's authorization, the City's
bond counsel has prepared and presented to this Council a Notice of
Sale and Official Statement containing. information material to the
offering and sale of said bonds; and
WHEREAS, this Council, aided by the City of Palo Alto staff,
has reviewed the Notice of Sale and Official Statement_, has made
such corrections and additions thereto as it deems proper and has
determined that the facts therein set forth are true and correct
in all material respects, and neither the Notice of Sale nor Official
Statement contcsins any untrue statement of a material fact or omits
to state a material f~ct required to be stated where necessary to
Jllake the statement not misleading in light of the circumstances under
which it was made.
NOW, THEREFORE, IT IS ORDERED as follows:
1. The Notice of Sale and Official Statement prepared and
presented to this Council, including the Council's corrections and
additions thereto, is approved for distribution in the offering and
s~le of $791,000 principal amount of bonds, University Avenue hrea
Offstreet Parking Assessment District, Project No. 75-63, $791,000
Bonds of 1977.
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2.· The City Clerk is authorized and directed to execute the
Notice of Sale and Official Statement on behalf of the City.
3. The City's bond counsel, on behalf of the City and its
City Clerk, is authorized and directed to cause the Notice of Sale
and Officiel Statement to be distributed to such municipal bond
broker-dealers, to such banking institutions and to s~ch other persons
as may be interested in purchasing the bonds therein offered for sale.
4. Appropriate officers of the Cityr or any of them, are
authorized and di=ected to cause to be delivered to the purchaser
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of the borids a statement that the facts· contained in the Notice of
Sale and Official Statement, and any supplement or amendment thereto
(which shall l:>e deemed an original part thereof for purposes of such
statement) were, at the time -of award of the bonds, and are, as of
the date of delivery of the bonds, true and correct in all material
respects and did not, at the date of award of the bonds, and do not,
as of the date of delivery of the bonds, contain any \L'ltrue statement
of a material fact or omit to state material facts required to be
stated, where necessary to make the statement not misleading in
light of t.~e circwnstances wider which it was made. Each signator
to the foregoing described statement shall, with the aid of the staff
of the City of Palo Alto, take such actions prior to the signing of
the statement as are deemed necessary or appropriate to verify the
accuracy of the statement.
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( .. • • •
I hereby certify that the foreqoinq is a full, true and
correct copy of a resolution duly passed and adopted by the Council
of the City of Palo Alto, California, at a meeting thereof held on
the 2nd -----day of , 1977, by the following vote ~~~~..,.;......~~~~-
May
of the members thereof:
AYES, and in favor thereof: Councilmembers: Beahrs, Berwald,
Carey, EyeTly, Norton, Sher, Wit1erepoon
NOES, Counci !members: None
ABSENT, Counci lmelt'.ber s : Clay, COll9toc:k .
tl4tL.y ,.;:_.,,:?oiW-~ .
cfiJ'YCf.gfu(l' OPTHE CITY OF PALO ALTO
APPROVED: •
APPROVED:
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