HomeMy WebLinkAbout1970-10-06; City Council; Resolution 1798I'
I' I'
RESOLUTION NO. /7qv
RESOLUTION OF THE CITY COUNCIL OF THE
$1,225,000 WVENUE BONDS OF SAID CITY TO THE BEST BIDDER AND REJECTING ALL OTHER BIDS
CITY OF CARLSBAD , CALIFORNIA, AWARDING
WHEREAS, at the time and place fixed for the opening of
bids for the $1,225,000 bonds of the City of Carlsbad, Cali-
fornia, designated WATERWORKS REVENUE BOND, 1970, SERIES A, and
numbered 1 to 245, 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 Carlsbad
DOES HEREBY RESOLVE, DETERMINE AND ORDER as follows :
SECTION 1. That the bid of Goldman, Sachs and Company
offering par, accrued interest to date of delivery and a premium
of $ 23,462.00 for bonds bearing interest payable annually
the first year and semiannually thereafter at the rate(s) of:
RATES
7.0 %
6.0 %
6.25 %
YEARS
1972 - to 1976
1976 to 1981
1981 to 1983
- -
- -
1983 to 1984 - - 6.30 %
6.50 % 1984 to 1985 - -
6.60 % 1985 to 1986 - -
6.75 %
6.90 %
1986 to 1987
1987 to 1989
- -
- -
6.25 % 1989 to 1991 -
- 1-
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
res pee t ive bidders .
SECTION 3. 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 6th day of
October , 1970.
(SEAL)
ATTEST :
- 2-
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO ) ) ss.
I, MARGARET E. ADAMS, City Clerk of the City of Carlsbad,
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 on the 6th day of October ,
1970, and that it was adopted by the following vote, to-wit:
AYES: COUNCILMEN Dunne, McComas, Jardine, Castro and
Lewis.
NOES: COUNCILMEN None.
ABSENT : COUNCILMEN None.
(SEAL)
-3-