HomeMy WebLinkAboutRES NO 15-54RESOLUTION N0.15-54
SELLING CITY OF BAKERSFIELD 1954 CITY HALL BONDS, SERIES B
WEREAS, the City Council of the City of Bakersfield,
by resolution No. 8-54 adopted February 8, 1954, heretofore
duly authorized the issuance of $150,000 principal amount of
general obligation bonds of said City to be known as "City
of Bakersfield 1954 City Hall Bonds, Series B", all dated
May 1, 1954, and further duly authorized the sale of said
bonds at public sale to the highest bidder therefor; and
WHEREAS, notice of the sale of said bonds has been duly
given in the manner prescribed by said resolution and the
following bids for said bonds were and are the only bids
received by said City Council, to wit:
Name of Bidder
Blyth & Company
Russ Bldg. San Francisco
Bank of America
San Francisco
American ~ust Co.
San Francisco
Security First National
Bank of Los Angeles
Heller, Bruce & Co.
San Francisco
Net Interest
Cost to City
$21,417.
$21,406.
$22,040.
$23,989.
$22,038.
AND, WHEREAS, the said bid of Bank of America,
San Francisco
is the highest bid for said bonds, considering the interest rate(s)
specified and the premium offered,
NOW, THEEFOE, BE IT RESOLVED by the Council of the City
of Bakersfield, as follows:
1. Said bid of Bank oi America
San Francisco
for $150,000 par value of said bonds shall be, and it is hereby
accepted, and the Treasurer of the City of Bakersfield is hereby
authorized and directed to deliver said bonds to said purchaser
thereof upon payment to said Treasurer of the purchase price,
to wit: Said par value thereof and a premium of $ 19.00 ,
together with accrued interest at the following rate(s):
Bond Numbers Interest Rate
(inclusive) per Annum
B1 to B20 4-1/~
S21 tO SgO 1½ %
S91 to SlSO 1-3/4 %
B131 to B150 2 %
to
Said bonds shall bear interest at the said rate(s) hereinabove
set forth, payable semi-annually on May I and November i of each
year until and at the respective dates of maturity of said bonds.
2. That all bids except the bid of Bank o~ America
San Francisoo
are hereby rejected and the City Clerk is hereby ordered and
directed to return to the unsuccessful bidders their several
checks accompanying their respective bids.
3. The City Clerk is directed to cause to be litho-
graphed, printed or engraved a sufficient number of blank bonds
and coupons of suitable quality, said bonds and coupons to show
on their face that the same bear interest at the rate(s) aforesaid.
RESOLVED, FURTHER, that this resolution shall take effect
from and after its passage and approval.
PASSED AND ADOPTED this
following vote:
AYES:
NOES:
ABSENT: Eveleth
Attest:
day of March, 1954, by the
Councilmen Carnakis, Collins, 'Croes'~..Saunders,.~ulliVan, yest'
None
Mayor of th~i~t~y of Bakersfield,
~a i ifornia
City Clerk
Presented to and approved by me this 16th day of March, 1954.
Mayor of the Ci ~of Bakersfield,
California
3
CLERK'S~CERTIFICATE
I, MARIAN S. IRVIN, City Clerk of the City of Bakersfield,
California, do hereby certify that the foregoing is a full, true
and correct copy of a resolution duly adopted at an adjourned regular
meeting of the Council of said City duly and regularly held at the
regular meeting place thereof on the 16th day of March, 1954, of which
meeting all of the members of said Council had due notice and at
which a majority thereof was present; that at said meeting said
resolution was introduced by Councilman Carnakis, and read in full,
and was thereupon, upon motion by Councilman Collins, seconded by Council-
man Croes, adopted by the following vote:
AYES: Councilmen Carnakis, Collins, Croes, Saunders, Sullivan, Vest
NOES: ~one
ABSENT: Eveleth
That I have carefully compared the same with the original
minutes of said meeting on file and of record in my office and that
said resolution is duly entered of record in Book -- of Minutes at
pages 209 to -- inclusive, and said resolution is a full,
true and correct copy of the original resolution adopted at said
meeting and entered in said minutes. That said resolution has not
been amended, modified or rescinded since the date of its adoption
and the same is now in full force and effect.
WITNESS my hand and the seal of said City of Bakersfield,
this 19th day of March, 1954.
City~lerk~of ~
o the' f'~Bakersfield,
California