HomeMy WebLinkAboutRES NO 83-68RESOLUTION NO. 83-68
RESOLUTION OF THE CITY COUNCIL OF THE
CITY 0F+ BAKERSFIELD , CALIFORNIA,
AWARDING $ 2,'525,000 BONDS OF SAID
CITY TO THE BEST BIDDER AND REJECTING
ALL OTHER BIDS.
WHEREAS, at the time and place fixed for the open-
ing of bids for the $ 2,525,000 bonds of the
City of Bakersfield ,California, designated
."Municipal Improvement Bonds, 1966, Series B,"
and numbered to , 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,
DETERMINE AND ORDER as follows:
Section 1. That the bid of
United California Bank
offering par, accrued interest to date of delivery and a
premium of $ 240.00 for bonds bearing interest
payable annually the first year and semiannually thereafter
at the rate(s) of:
Rates Years
5.50 % 19 70 to 19 76
4.10 % 19 77 to 19
4 % 19 7s to 19 so
4.10 % 19 81 to 19 82
4.25 % 19 83 to 19 85
4.30 % 19 86 to 19 88
4.40 % 19 89 to 19 91
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 2. That all bids other than the one
accepted in Section 1 hereof are rejected and the City
Clerk is directed to return the checks accompanying said
rejected bids to the respective bidders.
Section 5. That the interest rate(s) on said
bonds is (are) hereby fixed at the rate(s) stated in
Section 1 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
September , 19 ~8'
lOth
day of
ATTEST:
V E ' ~/ ~
I C -~' the ~ty~o f
Bakersfield, California
STATE OF CALIFORNIA
COUNTY OF KERN
CITY OF BAKERSFIELD
SS,
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 t~'-Vl~Mayor of said city at a regular
meeting of said City Council held on the 10th day
of September , 19 68,.and that it was so adopted
as follows:
AYES:
Councilmen Heisey, Hoskin~, Rees, Rucker,
NOES:
Stiern, Vetter, Whittemore
Councilmen None
ABSENT:
Councilmen None
Bakersfield, California