HomeMy WebLinkAboutRES NO 84-55
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RESOLUTION NO.S4-55
SELLING CITY OF BAKERSFIELD OFF-STREET PARKING REVENUE BONDS ~
SERIES A
WHEREAS, the Council of the City of Bakersfield
heretofore duly authorized the issuance of $880~OOO principal
amount of revenue bonds of the City of Bakersfield to be
known as "City of Bakersfield Off-Street Parking Revenue
Bonds~ Series Aft, all dated December 1, 1955, 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 the resolution
authorizing the sale of said bonds and the following bids for
said bonds were and are the only bids received by said Council,
to wit:
Name of Bidder
Net Interest
Cost to City
Salomon Bros. & Hutzler
$421,426.00
$440,125.00
Dean Witter & COJ.
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AND WHEREAS, the bid of
SALOMON BROS. & HUTZLER
is the highest and best bid for said bonds, considering the
interest rate(s) specified and the premium offered,
NOW~ THEREFORE, BE IT RESOLVED by the Council of
the City of Bakersfield, as follows:
1. Said bid of
SALOMON BROS. & HUTZLER
for $880,000 par value of said bonds shall be and is hereby
accepted, and the Treasurer of the City of Bakersfield, and
Anglo California National Bank, San Francisco, California,
as Fiscal Agent, are and each of them is hereby authorized
and directed to deliver to said purchaser thereof one
~emporary bond issued pursuant to resolution heretofore
adopted by this Council on November 14, 1955, upon payment
to said Treasurer of the purchase price, to wit: Said par
value thereof and a premium of $ 911.50 , together
with aocrued interest at the following rate(s):
Bond Numbers Interest Rate
(inclusive) Per Annum
Al - A 880 31 %
'4
A_ - A %
A_ - A %
A - A %
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A - A %
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Said bonds shall bear interest at the said rate(s) hereinabove
set forth, payable semi-annually on June 1 and December 1 in
each year.
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2. That all bids except 'the bid of
SALOMON BROS. & HUTZLER
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
lithographed, printed or engraved a sufficient number of
blank definitive 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. Said definitive bonds
and coupons shall, upon execution thereof, be delivered in
exchange for and upon surrender of said temporary bond as
provided in said temporary bond.
RESOLVED, FURTHER, that this resolution shall take
effect from and after its passage and approval.
PASSED AND ADOPTED this 6th day of Decembe:r, 1955,
by the folloWing vote:
A YES:
Councilmen Carnakis, Collins, Doolin, Eveleth,
Schweitzer, Sullivan
NOES:
None
ABSENT:
Croes
Attest:
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Mayor 01' the y 0 a ers e d,
Ca ifornia
Presented to and approved by me this 6th day of
December, 1955.
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Mayor or the . ty or Bakersr1eld,
California
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CLERK'S CERTIRICATE
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 a
"'Ar-t:l~c:!l3n
meeting of the Council of
said City duly and regularly held at the regular meeting
place thereof on the 6th day of December, 1955, 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 of Councilman
Sullivan
, seconded
by Councilman Schweitzer
, adopted by the
following vote:
A YES :
Councilmen Carnakis, Collins, Doolin, Eveleth,
Schweitzer, Sullivan
NOES:
ABSENT:
None
Croes
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 entered of record in the
minute book of said Council and that 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 ~mended, modified or rescinded since the date of
its a,doption ~!1d' the same is now in full force and effect.
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WITNESS ~'hand and the seal of said City of
Bakersfield th~s 7+h
day of December, 1955.
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Cit~l~the C1 y~erSfield,
California