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CITY COUNCIL OF THE CITY OF PLEASANTON <br /> <br /> ALAMEDA COUNTY, CALIFORNIA <br /> <br /> RESOLUTION NO. 89-416 <br /> <br /> AUTHORIZATION TO C~T,T. CITY OF PT~ASANTON <br /> 1967 WATER REVENUE BONDS SERIES A AND B <br /> <br /> WHEREAS, there exists outstanding $205,000 in City of <br /> Pleasanton 1967 Water Revenue Bonds that mature in <br /> 1993 and 1994; and <br /> <br />WHEREAS, the City incurs the cost of administration, audit, <br /> and mandatory annual bond calls as required by the <br /> bond indenture; and <br /> <br />WHEREAS, these costs exceed the benefit derived from the low <br /> interest rates of the bonds; <br /> <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON <br />RESOLVES AS FOLLOWS: <br /> <br />Section 1: Authorizes the call of all remaining City of <br /> Pleasanton 1967 Water Revenue Bonds Series A and B <br /> totalling $205,000 on November 1, 1989. <br /> <br />Section 2: Appropriates $109,410 from the Water Maintenance <br /> and Operation Fund, and $55,355 from the Water <br /> Reserve Fund to fund the call. <br /> <br />Section 3: This resolution shall become effective <br /> immediately upon its passage and adoption. <br /> <br /> I HEREBY CERTIFY THAT THE FOREGOING WAS DULY AND <br />REGULARLY ADOPTED BY THE CITY COUNCIL OF THE CITY OF <br />PLEASANTON, AT A MEETING HELD ON OCTOBER 3, 1989 BY THE <br />FOLLOWING VOTE: <br /> <br />AYES: Councilmembers - Brandes, Butler, Mohr, Tarver, and <br /> Mayor Mercer <br />NOES: None <br />ABSENT: None <br />ABSTAIN: None <br /> <br /> A~~ <br /> Deputy City Clerk <br />APPROVED AS -~~ <br />Michael H. Roush, City Attorney <br /> <br /> <br />