HomeMy WebLinkAboutRES NO 1-664/6
RESOLUTION NO. 1-66
RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF BAKERSFIELD , CALIFORNIA,
AWARDING $1,125,000 BONDS OF ?SAID
CITY TO THE BEST BIDDER AND REJECTING
ALL OTHER BIDS.
' WHEREAS, at the time and place fixed for the
opening of bids for.the $1,125~000 bonds of the
City of Bakersfield , California, designated
"Municipal Improvement Bonds, 1966, Series A~"
and numbered 1 to 225 , both inclusive,
all bids were publicly opened, examined and read, and a
tabulation thereof has been entered in the minutes; and
WHEREAS, the bid of the bidder hereinafter named
is the best bid made by a responsible bidder for said bonds;
NOW, THEREFORE, the City Council of the 'City of
Bakersfield' , California,' DOES HEREBY RESOLVE, DETER-
MINE AND ORDER as follows:
Section 1. 'That the bid of Crocker-Citizens
National Bank
offering par, accrued interest to date of delivery and a
premium of $ 2.50 for bonds bearing interest pay-
able annually the first year and semiannually thereafter at
the rate(s) of:
Rates
4!
3.30
3.40
3!
Years
19 6___~8 to 19 75, inclusive
19 76 to 19 7.7, inclusive
19 78 tO 19 79, inclusive.
19 8___qO tO 19 8__5, inclusive
19 8__6 to 19 91, inclusive
is the bid for said bonds yielding the lowest net interest
cost. Said bid'is hereby accepted and the bonds awarded
to said best bidder in accordance with the terms of the
proposal.
Section R. That all bids other thankthe one
accepted in Section I hereof are rejected and the City
Clerk is directed to return the checks accompanying said
rejected bids to the respective bidders.
Section 3. That theinterest rate(s) on said
bonds is (are) hereby fixed at the rate(s) stated in
Section'l hereof.
Section 4. That the City Treasurer is hereby
directed to deliver said bonds to the successful bidder
upon payment therefor and accrued interest, if any,: to
date' of delivery.
ADOPTED, SIGNED AND APPROVED this 4thI day
January , 19 66 ....
"Mayoi~ Of the
Bakersfield,
ATTEST:
Bakersfield, California.
STATE OF CALIFORNIA
COUNTY OF KERN
CITY OF BAKERSFIELD
8S.
I, MARIAN S. IRVIN , City Clerk
of the 'City of Bakersfield , California, DO HEREBY
CERTIFY that the foregoing resolution was duly adopted
by the City Council of said city. and was approved by the
Mayor of said city at a regular meeting of
said City Council held ~'~the 4th day of- January
19 66 , and that it was so.adopted as follows:
AYES:
Councilmen Balfanz, Doolin, Hoskin~, Park,
Rucker, Stiern. Whittemore
NOES:
Councilmen None
ABSENT:
Councilmen None
Bakersfield, California.