HomeMy WebLinkAboutRES NO 18-69RESOLUTION NO. ' 18-69
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF BAKERSFIELD, CALIFORNIA, AWARDING STREET
IMPROVEMENT BONDS.
(Public Improvement District No. 801-A,
White Lane and Hughes Lane)
WHEREAS, the City Council adopted Resolution No. 110-68
ordering the giving of a notice inviting bids for the purchase
of all the street improvement bonds described therein and
said notice has been duly published; and
WHEREAS, on January 13, 1969,' the time 'and place. fixed
by said resolution and notice for the opening of bonds, no
bids were filed With the City Clerk;' and
WHEREAS, subsequent to said time Griffith Company
filed a bid with the City Clerk offering to purchase
said bonds.
NOW, THEREFORE, the City Council of the City of
Bakersfield, California, DOES HEREBY RESOLVE, DETERMINE AND
ORDER as follows:
Section 1. The bid for said bonds yielding the lowest
net interest cost is the bid of Griffith Company
offering to purchase said bonds for' 85 % of their par
value and a premium of $ None , said bonds to bear
interest at the rate of ' 6 % per annum. Said bid
is hereby accepted and the bonds awarded to said bidder in
accordance with the terms of such bid.
Section 2. Any bids, other than the bid above accepted,
are hereby rejected and the City Clerk'iS directed tO return
the checks accompanying any such rejected bids to the respective
bidders.
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Section 3. The interest rate on said bonds is hereby
fixed at the rate stated in Section 1.
Section 4. The Treasurer* is directed to deliver to
the successful bidder bonds, in the amounts and at the time
and manner provided by law, upon payment by the successful
bidder of 88 % of the par value of the bonds
delivered, a premium of $ None ,-and accrued
interest from the date of the bonds to the date of delivery.
ADOPTED this 10th day of February , 1969.
ATTEST:
APPROVED this lOth day
of February , 1969.
of the City Council of the City
of Bakersfield,. California
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STATE OF CALIFORNIA
COUNTY OF KERN
CITY OF BAKERSFIELD
I, MARIANS. IRVIN, City Clerk and Ex-Officio Clerk of
the City Council of the City of Bakersfield, California, DO
HEREBY CERTIFY that the foregoing resolution was duly adopted
by the City Council of said city at a
regular meeting of said City Council F~ld on the lOth
day of Febru y , 1969, was approved by the Mayor
of said city, a~ it was
that so adopted as follows:
AYES:
Councilmen: Heisey, Rees, Rucker,
Stiern, Vetter
Whittemore
NOES:
Councilmen:. None
ABSENT:
Councilmen: Hosking
of the City Council of the City
· of Bakersfield, California
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