HomeMy WebLinkAbout1965-08-17; City Council; Resolution 1172I' e
RESOLUTION NO, 11 72
RESOLUTION OF THE CITY COW CITY OF CARLSBAD DIRECTXNG THE CITY CLERK $0 PUBLISH NOTICE IWITING SEALED PROPOSAL$ FOR $44'7,000 BONDS OF SAID CITY
MATURXTIES: The bonds will mature rln consecutive
in the amounts for each of numerical order on July 1
the several years as follows:
Principal Years Amount Inclusive
$ 7,000
20,000
15, ooo 1969 - 1981
20,000 1982 - 1986
25, ooo 1987 - 1991
INTEREST: The bonds shall bew in$erest at a rate 8r
rates to be fixed upon the sale thereof but not to exoeed
per ilYlnum, payable annually the first year, and semiannually there-
6 $
after.
PAYMENT: Said bonds and the interest thereon will be
payable in lawf'ul money of the United States oP America at the
office of the City Treasurer of the City of Carlsbad, California,
in said ci or, at the option of the hol
ing agent of' the city in Los Angeles, California, Chicago, Illinois,
or in New York, New York.
11/64-3
trable as to principal only OP as to bot;
and the form of registration may be ch r the bonds dks-
January 16, 1962.
pursuant: $0 Artlcle 1,
the Municipal Bond Act of 1901.
principal of and iaterss
*he CZty Council shall a
For the purpo
saed Act requires that
that purpose sufficient to meet all pa.
interest on said
sufficient to pa interest Qn satd bonds as
such paye of' the prlncipal thereof' as wrtll becO
proceeds of a tax levied at the next general ta
available. Said .tax shall be in addit
levied for municipal purposes and
other city bxe s .
;8 as they become
e
TE3MS OF SALE
Interest Rate: The maximum rate
$ per mm, payable annually the fi 6
annually therea
1/20 No bond shall
interest ratep bonds of the s
the same rate. Each bond must bear in
z&Sx The rate on any mturi.t?y or grcru
ate on any other maturity or gr of "Euz-ities.
_II_ Award: The bonds shall be sold for ci3, only. A3-1
must be for not less than all of the b
sale and each bid shall state that
nd accrued inteaaest to the date of de
any, and the interest rate or rates not to exceed t
feed hereind at whi
thereby, which shall be considered info
a part 04: the bid.
Highest Biddero The
the highest res
interest rate or rates specified
B
6
e
any. The h st bid will be detemnined by de
1 frQn the t the amount of
unt of interest whj,ch the cit
the date of said bonds to the respective
the award yd
cost to the
ivery computed
on a 360-day year basis.
be borne by the city.
The cost of print
Rzght of Rejection: The city refjerves the right,
in its discretion,
extent not prohibited by law to waive any irregularity or
informality in any bid.
Proxqpt Award::
reject any and a11 bids an0 to the
The city will take action awardsag
the bonds or rejecting all bids not laeer than twenty-six (26)
hours after the time herein prescribed
posals; provided that the award may
ion of the specified time if the bkdd
to the City Council notice in WPSt3Cng
such proposal,
Place of Delivery: Delivery bonds will be
made to the successful bidder at Jeffries Banknote Company,
117 Winston Street, Los Angeles, California, or at any other
place agreeable to both the successful bidd and the City
Treasurer.
7.
of bids, and in such event the
titled to the return of the ch
ess such Fai
or” omission of the city, shall then be cashed
.
0
Rev. 12/6$-7
disaffirm and withdraw the proposal i
ed by private holders from bonds of the same
character shall be declared to be taxable income under
present federal income tax laws, either by a
Revenue Service or by a decis
COw?t> or shall be deelared taxable b
federal ttncome t enacted subse nt to the date of
this notice.
Legal Opinion: The unqualified opinion of O'Melveny
& MyersJ attorneys, approving the validity of said bonds wil
be furnished the successful bidder at or prior to the tiqe of
delivery of the t the expense itY* A COPY
facsimile signature will
No charge will be mde t
certification.
the back of each bosde
No Litigation Certificateg At the
for and delivery of said bonds, the city will furnish the
successful btdder a certificate that there is no litigation
pending affecting the validity of the bonds.
IWOWTZQN AITAIWI3E:: Requests for infomeion
concernsing the city should be addressed to
Mrs, Margaret E, Adams City Clerk 1314 Russ Building 2960 Pi0 Pic0 mive or 235 Montgomery Street
Carlsbad, California
& Youngberg
GIVEN by ordek of the City CO
Carlsbad @alffom%a, adopked
STATE OF CALIFORNIA
CARLSBA COUNTY OF SAN DIEGO CITY OF D