HomeMy WebLinkAboutCity Council - 1250 RESOLUTION NO. 1250
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF HUNTINGTON BEACH AWARDING
BONDS OF SAID CITY TO BEST BIDDER.
WHEREAS, at the time and place fixed for the opening
bids for the $860,000.00 bonds of the City of Huntington
Beach, designated Water Bonds, 1955, and numbered 1 to
860, 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 Hunt-
ington Beach, DOES HEREBY RESOLVE, DETERMINE AND ORDER as
follows:
Section 1. That the bid of Bank of America offering
par, accrued interest to date of delivery and a premium of
$825-00 for said bonds to bear interest payable annually
the first year and semiannually thereafter at the rates of:
- Rate Years
5z'% 1956 to 1962
3% 1963 to 1976
20 1977 to 1980
is the bid for said bonds yielding the lowest net . interest
cost. Said bid is hereby accepted and the bonds awarded to
said bidder in accordance with the terms of its proposal.
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Reso. 1250
Section 2. That all bids, other than the one accepted
in Section 1 hereof, are rejected and the City Clerk is di-
rected to return the checks accompanying said rejected bids
to the respective bidders.
Section 3. That the interest rates on said bonds are
hereby fixed at the rates stated in Section 1 hereof.
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.
PASSED AND ADOPTED by the City Council of the City of
Huntington Beach California, at a regular meeting thereof
held on the 18th day of July, 1955.
Mayor
ATTEST:
City Clerk
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Reso. 1250
STATE OF CALIFORNIA )
County of Orange ) ss:
City of Huntington Beach )
I, JOHN L. HENRICKSEN, the duly elected, qualified and
acting City Clerk of the City of Huntington Beach, and ex-
officio Clerk of the City Council of said City, do hereby
certify that the whole number of members of the City Coun-
cil of the City of Huntington Beach is five ; that the fore-
going resolution was passed and adopted by the affirmative
vote of more than a majority of all the members of said City
Council at a regular meeting thereof held on the 18th day of
July, 1955, by the following roll call vote:
AYES: Councilmen:
Bartlett, LeBard, Lockett , Terry, Seabridge
NOES: Councilmen:
None
ABSENT: Councilmen:
None
N
City Clerk and ex-officio Clerk
of the City Council of the City
of Huntington Beach, California
3 .