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HomeMy WebLinkAboutRESO 5636. · ;'i34A -' ....... • JKHW:KIJ:pl e RESOLUTION NO. 5636 - A RESOLUTION CALLING FOR BIOS FOR BONDS, APPROVING NOTICE OF SALE ANO OFFICIAL SiATEMENT, ANO AUTHORIZING ANO DIRECTING CERTAIN ACTIONS WITH RESPECT TH 1C:RETO CITY OF PALO ALTO ELECTRIC ANO GAS REVENUE BOUDS, 1979 SERIES A · 12/04/78 01/04/79 ORIGINAL: RESOLVED, by the Council of the City of Palo Alto, Cal.ifornia, that WHEREAS, this Council duly authorized the issuance of $1,150,000 of Electric and Gas Revenue Bonds, 1979 Series A (the 11 8onds"} by Resolution No. 5§.34 and Resolution Ho. 5635, adopted by this Counci 1 on January 29 , 1979; -. - WHEREAS, pursuant to this Council's authorization, the City's Bond Counsel has prepared and presented to this Council a Notice of Sale of the Bonds and its Financial Consultant has prepared and presented to this Council an Official Statement containing information material to the offering and sale of the Bonds; and WHEREAS, this Council, with the aid of its staff, has reviewed the Official $tate.111ent~ has made such r.orrections and additions thereto as it deems p'!"oper and has determined that the facts therein set forth are trt.:1~ and correct in all material respects and that the Official Statement contains no untrue statemant of a material fact or omits to state a material fact required to be stated where necessary to make a 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 are approved for distribution in the offering and sale of the above described Bonds. 2. The City Cl erk is authorized and directed to execute the Notice of Sale and the Official Statement on behalf of this City and to call for bids for the sale of the aonds, such bids to be received February 12, 1979. - 3. The City Clerk is also authorized, in executing the Official Statement, to approve further correct;ons and add;tions therein by supplement or amendment thereto~ or otherwise as appropriate, provided that· any such corrections or additions shall be necessary to cause the information contained therein to conform with facts material to the Bonds or to the proceedings of this City. ,_ 4. The City• s Financial Consultant, on behalf of the City and its Cl erk, is authorized and directed to cause the Notice of Sa 1 e and Off ici a 1 Statement to be _distributed to such mun;cipal bond broker-dealers, to such banking institutions and to such other persons as may be interested in purchasing the Bonds therein offered for sale. 5. The City wil 1 furn1 sh the iegal opinion of the lat·1 firm of Jones Hall Hill & White, San Francisco, California, unqualifiedly approving the legality of the proceedings and the issuance of the Bonds. 6. The Treasurer or othar ap1wopriate officer of the City is authorized and dirr.cted t.o e~:ccute and to c0u:.·~ to b1~ d~livered to the rrnrch.3ser of the_ Bonds a $talemt.:nt ttwt, to th~ sigocr 1 s best knowledge and k-licf, the facts . . • .. ,. ... , . .. • • containrd in the Official Statement, and any supplement or amendment thereto (which shall be deemed an original part thereof for the 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 that the Official Statement did not, at the date of award of the Bonds, and does not, as of the date of delivery of the Bonds. contain any untrue statement of a. material fact or omit to state material facts required to be stated, where necessary to make a statement not misleading in 1 ight of the circumstances under which it was made. The signer shall, with the aid of the staff of the City, take sur:h further actions prior to the signing of the statement as are deemed necessary or appropriate to verify the accuracy of the statement. * * * * * * * * * * I hereby certify that the foregoing 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. 29th day of January , 1979, by the following vote of the m~mbers thereof:· ~ - AYES, and in favor thereof, Councilmembers: Brenner, Carey, Clay, £yerly, Fazzino, Fletcher, Henderson~ Sher, Witherspoon NOES, Councilmembers: None ABSENT, Council members: None NOT PA.~TICIPATING: None City Clerk of thl i ty of Palo Alto APPROVED: . !