HomeMy WebLinkAbout1958-07-01; City Council; Resolution 4121
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RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF CARLSBAD AWARDING $767,000 BONDS OF SAID CITY TO THE BEST BIDDER AND REJECTING ALL OTHER
BIDS.
WHEREAS, at the time and place fixed for the opening of bids for the
RESOLUTION NO. 412
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$767,000 bonds of the City of Carlsbad, designated WATERWORKS REVENUE
BONDS, 1958, and numbered 1 to 767, 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, California,
DOES HEREBY RESOLVE, DETERMINE AND ORDER as follows:
Section 1. That the bid of JOHN NUVEEN & CO. ; SCHWABACWER &
60.; and BARCUS, KINDRED & 60. offering par, accrued interest to date
of delivery for said bonds to bear interest payable annually the first year and
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is the bid for said bonds yielding the lowest net interest cost.
hereby accepted and the bonds awarded to said bidder in accordance with the
terms of its proposal.
Section 2.
Said bid is
That all bids, other than the one accepted in Section 1 hereof,
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RA TE YEARS
3 3/4 %
4 %
4 1/4 %
4.10 y.0
1964 to 1968
1969 to 1976
1977to 1984
1985 to 1988
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are rejected and the City Clerk is directed to return the checks accompanying I
said rejected bids to the respective bidders.
Section 3. That the interest rate on said bonds are hereby fixed at the
rate stated in Section 1 hereof.
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Section 4. The City Treasurer is hereby directed to deliver said bonds
to the successful bidder upon the payment of par, accrued interest to date of
delivery and the premium above stated.
ADOPTED, SIGNED AND APPROVED this 1st day of July, 1958 at
a regular meeting of the City Council, by the following vote, to wit:
AYES: Mayor Baird, Councilmen Ledgerwood, Helton and Lough, and
CounciIwoman Sonneman.
NOES: None
ABSENT: None
ATTEST:
of the City of Carlsbad,
Carlsbad, California
RICli;, City Clerk
(SEAL)
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STATE OF CALIFORNIA :
COUNTY OF SAN DIEGO : SS.
CITY OF CARLSBAD
I, J. H. PRICE, 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 1st day of July, 1958, and
that it was so adopted as follows:
AYES: Councilmen Baird, Ledgerwood, Helton and Lough, and
Councilwoman.
NOES: Councilmen .C None
ABSENT: Councilmen - None
(SEAL)
RICE, City Clerk of the
City of Carlsbad, California