HomeMy WebLinkAboutParking Authority - 7 RESOLUTION NO. 7
RESOLUTION OF THE PARKING AUTHORITY OF THE
CITY OF HUNTINGTON BEACH AWARDING. $2,300,000
BONDS OF SAID AUTHORITY TO THE BEST BIDDER
AND REJECTING ALL OTHER BIDS.
WHEREAS, at the time`and place fixed for the
opening of bids for the $2,300,000 bonds . of The Parking
Authority of the City of Huntington Beach designated "1968
Parking Revenue Bonds, " and numbered -1 to 460, inclusive,
all bids were publicly opened, examined and read, and a tabu-
lation 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 Parking Authority of The City of
Hunt ingt on-Be ac h
DOES HEREBY RESOLVE, DETERMINE AND ORDER as follows:
Section 1. That the bid of Bank of America
N_ T_ and _S. A. and Associates offering:
$. 2,300,000.00
391 Premium
and accrued interest to date of delivery for said
bonds bearing interest payable semiannually at the
rate(s) 'of:
Rates Years Y
6.00 / 19_ZO to 19L
4-75 19-13 to 19-12
5_00 / 19-Q_ to 19-8
5_25 0 19-B-6- to 19_-U
19 to 19
is the bid for said bonds ,yielding the lowest net interest
cost Said bid is. hereby accepted and the bonds awarded to
said pest bidder in accordance with the terms of the pro-
posal.
Section 2.. That all bids other than the one
accepted in Section 1 hereof are rejected and the Secretary
of the Authority directed to return the check ac.companying
said rejected bids to 'the respective bidders.
Section 3. That the interest rate(s) on said
bonds is (are) hereby fixed at the rate(s) stated in Section, l
: hereof.
Section',4. That the Treasurer, of the Authority 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 21st day of
October 1968.
Chai man of The Parking Authority
of The City of Huntington Beach
ATTEST:
Secretary of T Parking Authority
of.;The City o Huntington Beach
.(SEAL) .
-2-
_STATE .OF CALIFORNIA)
s s .
COUNTY OF.'ORANGE )
I , Paul C . -Jones,-Secretary of the Parking
. :Authority of the City of Huntington .Beach, .Californ.ia,
DO HEREBY CERTIFY that the foregoing resolution was duly
adopted by the Parking Authority of -the City of 'Huntington'
Be,ac,h. at a meeting of said Parking ;Authority held on the
21st day of October 1968, and that it
was so adopted by the following vote.:
AYES : Shipley, Bartlett,
McCracken, Kaufman
Matney, -tGreen,r Coen
NOES : None
ABSENT : None
120
Secretary of Parking
Authority of the- City of
Huntington Beach, California
(SEAL)