HomeMy WebLinkAboutRES NO 67-61RESOLUTION NO.
RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF BAKERSFIELD CALIFORNIA
AWARDING $ 850 000 B~NDS OF
SAID CITY TO '~ BEST BIDDER AND
REJECTING ALL OTHER BIDS.
WHEREAS, at the time and place fixed for the
opening of bids for the $850,000 bonds of the
City of Bakersfield , California, designated
MUNICIPAL AUDITORIUM ADDITIONS BONDS, 1961
and numbered i to 850 , 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:
Include
names.
of all
membep8
of a
syndi-
'cate
Section 1. That the bid of
SECURITY FIRST NATIONAL BANK (CO-MANAGER)
CROCKER-ANGLO NATIONAL BANK (CO-MANAGER)
offering par, accrued interest to date of delivery and a
premium of $ 1.00 for said bonds to bear interest
payable annually the first year and semiannually thereafter
at the rates of:
City Bonds-
Award Resln.
Rate
Years
4!
19 63 to 19 68
19 69 to 19 ?1
19 7~' to 19 75
?e to
19 to 19
is the bid for said bonds yielding the lowest net interest
cost. Said bid is hereby accepted and the bonds awarded
to said bidder in accordance with the terms of its proposal.
Section 2.. That said bid accepted in Section 1
hereof did request that a certified copy of the approv-
ing legal opinion of O'Melveny & Myers be'printed on the
back of each bond~ at the expense of said city.
Section 3- That all bids other than the 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 4. That the interest rate(s) on said
bonds is (are) hereby fixed at the rate(s) stated in
Section i hereof.
Section 5. The City Treasurer is hereby directed'~
to deliver said bonds to the successful bidder upon the
payment of par, accrued interest to date of delivery and
City Bonds-
Award Resno
the premium above stated.
of
ADOPTED, SIGNED AND APPROVED this
July , 19 61.
lOth day
Bakersfield, California
ATTEST:
er~ the ' ~~
Bike.rsfiel'd, California
(SEAL)+
7
[Add customary adoption certificate
and on copy returned to 0'Melveny &.
Myers also add copy certificate]
STATE OF CALIFORNIA
COUNTY OF KERN
CITY OF BAKERSFIELD
MARXAN S. IRVIN
I,. , City Clerk
of the City of ~akersfield , 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 5Wthe 10th day of July
19 61, and that it was so adopted as 'follows:
AYES:
Councilmen Balfanz. Doolin, Marchbanks
Mossman. Stiern
-NOES:
Councilmen None
ABSENT: 'Councilmen Collins, Croes
(SEPAL)
Bakersfield, California