HomeMy WebLinkAbout48-05RESOLUTION N0.'~i~~ ~'
SELLING CITY OF UKIAH 1948 IMPROVEMENT BONDS
WHEREAS, the City Council of the City of Ukiah hereto-
fore duly authorized the issuance of $407,000 principal amount
of bonds of the City of Ukiah, to be known as "City of Ukiah 1948
Improvement Bonds," all dated October 15, 1948, and further duly
authorized the sale of said bonds at public sale to the highest
and best bidder therefor; and
WHEREAS, notice of the sale of said bonds has been
duly given in the manner prescribed by said resolution and
the following bids for said bonds were and are the only bids
received by said City Council, to wit:
Name of Bidder
Net Interest
Cost to City
Bank of America San Francisco, Cal.
Savings Bank of ~endocino Co t~iah,Cal.
Blyth & Co San Francisco, Cal.
John Nuveen & Co Los Angeles Cal.
$145, $83.66
$146,604.16
$147,661.67
Gl70,762.55
AND WKEREAS, the said bid of
Bank of AmericsJ~ational Trust & Savings Association
is the highest and best bid for said bonds, considering the
interest rate(s) specified and the premium offered,
NOW, THEREFORE, BE IT RESOLVED by the City Council
of the City of Ukiah as follows, to wit:
1. Said bid of
Bank of America National Trust & Savings Association
for $407,000 par value of said bonds shall be, and is hereby
accepted and the Treasurer of the City of Ukiah is hereby
authorized and directed to deliver said bonds to said purchaser
thereof upon payment to said Treasurer of the purchase price,
to wit: said par value thereof and a premium of
together with accrued interest at the following rate(s):
Bond Numbers
( inclus i~e )
Interest Rate
Per Annum
1 to ?~, ,, 2~ %
_ 76 to ~ 2~ _ %
2~1 to ~ 2 3/4 _%
to %
to %
Ss. id bonds shall bear interest at the said rate(s) hereinabove
set forth, payable semi-annually on June 15th and December 15th.
2. That all bids except the bid of
BaD~k of, America National Trust & ~..avings Ass.ociation
are hereby rejected and the City Clerk is hereby ordered and
directed to return to the unsuccessful bidders their several
checks accompanying their respective bids.
3. The City Clerk is directed to cause to be litho-
graphed, printed, or engraved a sufficient number of blank bonds
and coupons of suitable quality, said bonds and coupons to show
on their face that the same bear interest at the rate(s) afore-
said.
RESOLVED, FURTHER, that this resolution shall take
effect from and after its passage and approval.
PASSED AND ADOPTED this 6th day of October, 1948, by
the following vote:
AYES:
Councilmen Clark,Hughes, ;~ercer
NOES: none
ABSENT: Richardson, ~gildberger.
Mayor of the City of Ukiah,
California.
Attest:
~?.~,~ Ci t~ 'Clerk
Presented to and approved by 'me this _ ~?~ day of
0 c tober, 1948.
Mayor df-the City-of ~i'a-h'~
California.
CLERK'S CERTIFICATE
I, A. R. SPRECKELSEN, City Clerk of the CITY OF UKIAH,
California,, do hereby certify that the foregoing is a full, true
~nd correct copy of a resolution adopted at a Council
meeting of the City Council of said City duly and regularly held
at the regular meeting place thereof on the 8th day of October,
19~8, of which meeting all of the members of said City Council
had due notice and at which a majority thereof was present; that
at said meeting said resolution was introduced by Councilman
Clark ,, and read in full, and was thereupon,
upon motion of Councilman Cia~k
Councilman
vote:
, seconded by
adopted by the following
AYES: Councilmen
C lark, k'erc er, Hughes
NOES:
ABSENT:
None
Richardson,Wildberger
That I have carefully compared the ss, me with the
original minutes of said meeting on file and of record in my
office and that said resolution is duly entered of record in
Book_ ~-/~ __ of Minutes, at pages ... / to ~? _, inclusive, and
said resolution is a full, true and correct copy of the original
resolution adopted at said meeting and entered in said minutes.
That said resolution has not been amended, modified or rescinded
since the date of its adoption and the same is now in full force
and effect.
WITNESS my hand and the seal of said City of Ukiah,
this 6+~.h _ day of October, 1948. ~,, ~/~.~~
C t7 Cler~ of the City/of Ukiah,
California.