HomeMy WebLinkAboutCC Res 1659 1968-04-15
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RESOLUTION NO. l659
RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SEAL BEACH , CALIFORNIA,
AWARDING $ 700,000 BONDS OF SAID
CITY TO THE BEST BIDDER AND REJECTING
ALL OTHER BIDS.
WHEREAS, at the time and place fixed for the open-
ing of bids for the $ 700,000
bonds of the
City of Seal Beach ,California, designated
CITY OF SEAL BEACH, 1968 WATER REVENUE BONDS
and numbered 1 to 140 , both inclusive,
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all bids were publicly opened, examined and read, and a
tabulation thereof has been entered in the minutesj and
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WHEREAS, the bid of the bidder hereinafter ~med
is the best bid made by a responsible bidder for said bonds;
NOW, THEREFORE, the City Council of the City of
Seal Beach
. California, OOES HEREBY RESOLVE,
DETERMINE AND ORDER as follows:
Section 1. That the bid of Merrill Lynch. Pierce,
Fenner & Smith Inc
offering par,
premium of $
accrued interest to date of delivery and a
161.00
for bonds bearing interest
payable annually the first year and semiannually thereafter
at the rate(s) of:
I Rates Years
6.00 Ii' 19 70 to 19 719
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4.90 " 19 80 to 19 83
5.10 " 19 98 ~~
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" 19 to 19
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" 19 to 19
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"164
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Resol~tio~ Number
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is the bid for said bonds yielding the lowest net interest
cost. Said bid is he~bY accepted and the bonds awarded
to said best b1dder 1n accordance with the terms of the
proposal.
Sect10n 2. That all bids other than the one
accepted 1n Sect10n 1 hereof are rejected and the C1ty
Clerk 1s directed to retum the checks accompanying sa1d
rejected bids to the respective bidders.
Sect10n 3. That the interest rate(s) on said
bonds is (are) hereby f1xed at the rate(s) stated in
Section 1 hereof.
Sect10n 4. That the City Treasurer 1s hereby
d1rected to de11ver aa1d bonds to the successful b1dder
upon payment therefor and accrued 1nterest, if any, to
date of delivery.
ADOP'l'ED, SIGNED AND APPROVED this 15th
April , 19..
day of
ATTEST:
~e~~~~or
IoGi Beach. Coutomla.
Seal
yo
h, Ce-,t.f'oftl1a
, (SEAL)
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Resolution Number
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STATE OF CALIFORNIA
COUNTY OF 0RAHaB
CITY OF ::DSAJ" IIISIWn
~ ss.
I C1 "A__Alo.s 'tt/L,eA , City Clerk
of the City' of Mear!eacn.' ,California,
DO HEREBY CERTIPY tl'lat the foregoing resolution was duly
adopted by the City Council of said city and wes approved
by the Mayor of said city at a regular
meet~of said City Council herd on the /C1 day of
. , 19 68, and tl'lat it was so adopted
as fo ows: -
AYES:
Councilmen ~~, h~_..oL&'. --
~,~..:er~
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NOES: Councilmen ~
ABSENT: Councilmen 2J~---~;'e~/
-d a..~ ~ - Chc..A-
~~,ft~~r
Seal Beach, CalstOl'nSa
(~L)
STATE OF CALIll'ORNIA
COUNTY OF OIlANGB
CITY OF' ASAL Il1IAOV
~ ss.
I, ~ J ~~ , City Clerk
of the City of - ~h ,California,
DO HEREBY CERTIFY tea ove an foregoing is a full,
true and correct copy of Resolution No. /h5~ '
and that the same l'las not been amended or repea ed.
DATED: O~./L IS, ,l9.il.
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$81 Beach, Ca11tOl'nla
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