HomeMy WebLinkAbout66-59 - Municipal Golf Course - Ratifying Bond SaleRESOLUTION No. 66-59
A RESOLUTION OF THE CITY OF COSTA MESA, CALIFORNIA, APPROVING
AND RATIFYING ACTION TAKEN BY THE COSTA MESA MUNICIPAL GOLF &
COUNTRY CLUB, INC., IN APPROVING THE BOND SALE TRANSACTION FOR
THE MUNICIPAL GOLF COURSE.
THE CITY OF COSTA MESA DOES HEREBY RESOLVE AS FOLLOWS:
WHEREAS, Goodbody and Company along with Taylor and Company have
offered to purchase in whole the One Million Six Hundred Thousand Dollars
($1,600,000.00) in bonds for the Costa Mesa Municipal Golf & Country Club,
Inc.; and
WHEREAS, said purchase will net for the Non -Profit Corporation, the
sum of One Million Five Hundred & Seventy-six Thousand Dollars ($1;576,000.00)
at a rate of x+.40% per annum, said bonds to be at a discount of 9&'; and
WHEREAS, this proposition was presented to the Non -Profit Corporation
on or about June 15, 1966, for their approval; and
WHEREAS, by motion, duly seconded and passed the same was duly approved;
NOW, THEREFORE, be it resolved that the City Council of the City of Costa
Mesa does hereby approve and ratify the aforesaid bond purchase agreement and
the action taken thereon by the Non -Profit Corporation.
PASSED AND ADOPTED this 20th day of June, 1966.
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Mayor of the C y ,o Costa Mesa
ATTEST:
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City Clerk of the City of Costa Mesa
STATE OF CALIFORNIA )
CITY OF COSTA MESA } SS.
COUNTY OF ORANGE }
I, C. R. PRIEST, City Clerk of the City of Costa Mesa, hereby
certify that the above and foregoing Resolution No. 66-59 was introduced
and considered section by section at a regular meeting of the City Council
of the City of Costa Mesa held on the 20th day of June, 1966, by the following
roll call vote:
AYES: Councilmen: Barck, Jordan, Pinkley, Tucker
NOES: Councilmen: None
ABSENT: Councilmen: Wilson
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City Clerk and ex -officio Clerk of the
City Council of the City of Costa Mesa