HomeMy WebLinkAbout1992-38 Mt. Ashland BondCity of Ashland
RESO. NO. 92-38
USDA - Forest Service
RESOLUTION OF BOARD OF DIRECTORS
of
The City of Ashland,~Oregon
RESOLVED, That this Municipal Corporation does constitute and appoint
John E. Lowe , Regional Forester and any successors in office
(Name) ' ,
as attorney for this corporation, for and in the name of this corporation to
collect or to sell, assign, and transfer any securities of the United States,
registered in the name of this corporation, or to bearer, and deposited by it,
in accordance with section 1 of the act of July 30, 1947 (61 Stat. 646, 650;
31 U.S.C. 9303), and subject to the provisions thereof and of Treasury
Department Circular 154, dated October 31, 1969, as security for the payments
to the Forest Service, USDA, of the amount set forth in a bond or bonds
Performance (removal of structures and
executed by The City of Ashland for Improvements, and site restoration) 1/
( Obl igor) -
for contracts listed as provided in the bond or bonds, and the undersigned
agrees that in case of any default in the payment to the Forest Service, USDA,
of any amount due under such bond, its said attorney shall have full power to
collect said securities or any part thereof, or to sell, assign, and transfer
said securities or any part thereof without notice, at public or private sale,
free from any equity of redemption and without appraisement or valuation,
notice and right to redeem being waived, and to apply the proceeds ef such
sale or collection, in whole or in part, to the satisfaction of any damages,
demands, or deficiency arising by reason of such default, as its said attorney
may deem best; and this corporation further agrees that the authority herei~
granted is irrevocable.
FURTHER RESOLVED, That the undersigned agrees that said securities shall be
converted to book-entry securities in the accounts of the Federal Reserve Bank
and that any matured book-entry securities shall be converted to a
non-interest bearing cash deposit. All provisions of power of attorney and
agreement stated above will also apply to the cash deposit account.
1/ Enter "performance of contract"
and/or "bid bond."
and/or "payments due under contract,"
R6-FS-6500-64 (4/86)
FURTHER RESOLVED That ,.~::.,~___~/~, ,.,~/~:~ ..... ~ the .~ ~_ .~
(Name~ ' -' - ~' "~
of this corporation, is hereby authorized to act in the premises
I, The undersigned, of the
do hereby c,ertify the the l~oregoing is a true and correct copy of a resolution
regularly presented to and adopted by the Board of Directors of said Company
at a meeting held in the office of the Company on the day
of , 19 , at which all the Directors were present and voted,
and that such resolution is duly recorded in the minute book of said Company
this day of 19
(Seal affixed)
/s/
*The foregoing resolution was READ and DULY ADOPTED at a regular meeting
of the City Council of the City of Ashland on the ... ~' day of~-- ,. ,
1992.
Nan E. Fr ecorder
SIGNED and APPROVED this ~/Z day of i~?_~7f
, 1992.
Reviewed as to fo rm-
~au! Nolte, ~ity Attorney
Catherine M. Golden, Mayor --~ -~
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