HomeMy WebLinkAbout1970-10-20; City Council; Resolution 1799.. 7 -'
I
RESOLUTION NO. 1799
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD , CALIFORNIA , RESCIND- ING RESOLUTION NO. 1798 AND AWARDING $1,255,000 REVENUE BONDS OF SALD CITY TO THE BEST BIDDER AND REJECTING ALL OTHER BIDS
WHEREAS, at the time and place fixed for the opening of
bids for the $1,255,000 bonds of the City of Carlsbad, California,
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, by Resolution No. 1798 this City Council awarded
said bonds to GOLDMAN , SACHS & CO. ; and
WHEREAS, said award to GOLDMAN, SACHS & CO. , was awarded
by mistake and GOLDMAN, SACHS & CO. has agreed to a recission of
the award of said bonds to said Company; and
WHEREAS, BLYTH & CO. , INC. , the best bidder for said
bonds, has reinstated its bid;
NOW, THEREFORE, the City Council of the City of Carlsbad
DOES HEREBY RESOLVE, DETERMINE AND ORDER as follows :
SECTION 1. That Resolution No. 1798 of said City Council
is hereby rescinded and the contract with GOLDMAN, SACHS & CO.
created thereby is, by mutual agreement of the parties, rescinded.
SECTION 2. That the bid of BLYTH & CO., INC. offering
$1,209,883.50 accrued interest to date of delivery for bonds
bearing interest payable annually the first year and semiannually
thereafter at the rates of:
- 1-
t... ’
RATES
7% 6% 6.15% 6.30% 6.40% 6.50% 6.60% 6.70% 6.80% 6.90% 6.00% 6.00%
YEARS
1972 to 1979 1980 198 1 1982 1983 1984 1985 1986 1987 1988 1989 1990
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 3. That all bids other than the one accepted
in Section 2 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 rates on said bonds are
hereby fixed at the rates stated in Section 2 hereof.
SECTION 5. 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 12th day of October,
1970.
(SEAL)
ATTEST :
- 2-
e
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO ) ) ss.
I, MARGARET E. ADAMS, City Clerk of he City o
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 special meeting
of said City Council held on the 12th day of October, 1970,
and that it was so adopted by the following vote, to-wit:
AYES: COUNCILMEN Dunne, NcComas, Jardine, Castro and Lewis.
NOES: COUNCILMEN None.
ABSENT : COUNCILMEN N o ne,
v- Carlsbad
(SEAL)
-3-