HomeMy Public PortalAbout77-094 (10-18-77)~..
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'` RESgLIJ`T'~IO~T N~ ~ 7 7'- 9 4 y
RESOL;LTTION ~QT~ THE CITY COUNCIL OF ,
THF~ CI`T'Y nF` LYT\Ti~1O~QD AT'tEND.ING RESOLU-
' TIOT1 N0.77-.g2° A~Tn ~COT\TFIRMING G£RTAIN~
CHANGES IN THE'NOTICE INVITINGr,BIDS _
` CN CnN~TT'~TI,ON' T^TI TH mH:E ~ SALE OF 5 5.0 0 , 0 0 0
NEGOTIABLE PRO'~~?I"SSORY NOTES
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TaNFREAS, by ~:~ts Resolution No. 77=g2 , the City Council
of the Ci~ty_ of Lynwood authorized the issuance of $5`Oy0, 000
negotiable promiss'o'ry notes and aut`liorized and directed the
J mailing o,f a 'Notice Invi.t`ing Bids with respect thereto; and
^?H~':?2FAS; said. Tlotce ~Tnvitinq Mids., as so approved, was
_- mailed as c~ire,cted 'by this ('tv ~'ouncil, and ~ ,,
TaI3EREAS., subsequent to said Lnaiing, a, modification -of
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_ said Notice, Inviting ~3d was also mailed in ~.ahch the denomna-
ti~on of the -N~tes Baas .changed to r_.ef-lect the terms o.f the...
a"f.oresaid Resolution No:` 77-g2, an`d in which the provisions for` '
ree~emption were r.,evised, and
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T~JHF'REAS, this City Council• wishes to change the provisions
for -redemption as s.et forth in the aforesaid Resolution. No.
and' to ,conf_irm the modifications effected through, the revised
Notice Inviting Bids,
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W NOr^7., "'HEREFORE, the City Council of the City of Lynwood'
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does .hereby resolve as follows
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SEC:"'•InN 1. That •Resolut~_on No 77-~92 hereby is amended '
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by changing the first sentence of SEG'~'ION 7• thereof to read ~as
follows= 1
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.• "The notes are s•ubj ect to call and aredemDtf ion at
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" the option of the City ~n March 31, 197.8, at a '
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redemption price for each~~Note equal t~~ the prin-
cipal amount thereof_ r~lus ~a premium of cane=half
{1/2) of .one •(1°:.)~ perce:nt,~thereof plus a~ccruecl . '
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interest thereon to the date~of redemption." ,
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SECTIO'~I .2 That the form of temporary note ;approved by
"the said Resolution No,. 77-92 hereby is amended to reflect the change
in redemption price effected by Section l.of this Resolution.
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E SECTION. 3. That the modification to the Notice Inviaing:
Bids , a copy of which is attached'hereto ~ as Exhibit " A" and .by
this reference incorporated herein°as~thougl se't forth at length.;
he_rebv is ~pprcved; the.mailinq thereof by the City Treasurer herek~y
- is confirmed; and`sad modification and maiTina thereof- shall be
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' given. in all respects the same force: and effect as if the same had
been previously directed by this City Council. -
AD~PTFn,. SIGNED and APPROVED this 18th day of October.,
19"TZ .
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ATTEST•
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~'Ct~ er ~; i~ty of Lyn~abod ~=` a ~"
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STATE OF CALIFORNIA )
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COL7r1TY OF LOS ANGELES )
I, JOSEPHINE L. SHEPHERD, City Clerk of the City of
Lynwood, ~.o hereb_y certif~~ that the foregoing resolution
was duly adopted by the Cite Council of said City at a regular
meeting o.f_ said City Council duly held on the 18th day of
October, 1977, and that it was so adopted by the following
vote.
AYFS• COiJNCILMEN• BYORK, GREEN., HIGGINS, MORRIS, ROWS.
rdOES COUNCILMET7: NONE.
ABSENT. CQUNCILMEN NONE.
.City ~.lerk, City of Lyn good
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STATE OF ~'AT~IFOR~nTI.A )
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COUNTY OF' LOS ANGLES )
I, ~70SFPHINE L. SHFP~HERD, City Clerk of the City of
Lynwood,. do hereby certify that the above and foregoing is
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a full, true and correct copy of Resolution No ., 77-94
and that the same Yi'as not been amehded or repealed.
Dated October 19 ., ~T'977.
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~, - f~ity Clerk, City of Ly wood
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An7ENDI!~[ENT TO
NOTICE INVITING BIDS ON X500,000
NEGOTIABLE PROMISSORY NOTES OF
THE CITY OF LYNwOOD
NOTICE IS HEREBY C,IVEN that the Notice Inviting Bids on
$500,000 negotiable promissory notes of the City of Lynwood of
October 5, 1977 hereby is amended in the following respects.
1 The Notes shall be in the denomination of $50,000 or,
at the option of the purchaser, any lesser amount in
multiples of X5,000
2 The Notes are subject to call and redemption at the
option of the City on It4arch 31, 1978 at a redemption
price for each Note equal to the principal amount
thereof plus a premium of one-half of one percent (Z%)
of said principal amount, plus accrued interest
thereon to the date of redemption
In all other respects the said Notice Inviting Bids remains
unchanged and in full force and effect "
ELLEN ~vEBB
City Treasurer, City of Lynwood
October 11, 1977
EXHIBIT "A"