HomeMy WebLinkAbout66-36OR,IGINAL
CITY OF UKIAH
RESOLUTION NO. 66-3S
RESOLUTION SELLING $175,000 PRINCIPAL AMOUNT OF CITY OF
UKIAH PARKING DISTRICT NO. 1 BONDS AND FIXING THE
DEFINITIVE RATES OF INTEREST THEREON.
WHEREAS, the City Council of the City of Ukiah has
duly authorized the issuance of $175,000 principal amount of
bonds designated "City of Ukiah Parking District No. 1 Bonds"
(herein called the "bonds") and further duly authorized the
sale of the bonds at public sale to the highest bidder there-
for; and
WHEREAS, notice of the sale of the bonds has been
duly given and the following bids for the bonds were and are
the only bids received, to wit:
Name of Bidder
Net Interest Cost
r e <::! O0
Savings Sank of Mendocino County
4.749294%
,Sank of America as Agent for
Stone and Youngberg
and
WHEREAS, the bid of Savings Bank of Hendocino
County
is the highest bid for the bonds, considerinK the interest rates
specified and the premium, if any, offered, NOW, THEREFORE,
BE IT RESOLVED by the City Council of the City of
Ukiah as follows:
1. Sald bid of Sa.vin$,s. ,Ba. nk o~, ,H~nc.J,ocino County _
for the bonds is hereby accepted and the Treasurer is hereby
authorized and directed to deliver the bonds to said purchaser
thereof upon payment to the Treasurer of the purchase price,
to wit: Par and accrued interest to data of delivery tofether
wi th a premium of $14-.50
Bond Numb ers
(Inc l'usiVe )'-
.
Maturi. ty.. Years Interest Rate
~(InelUsiVe) ~-- Per Annum
1 to 1 7~
to
]~, to 19~!:!6 4-3/4
to
to to
to to
to to
to to
The bonds shall bear interest at the rates hereinabove set forth,
payable semiannually on Aprll 1 and October 1 in each year.
2. All bids except said accepted bid are hereby re-
Jected and the City Clerk is hereby 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 Guality, said bonds and coupons to show
on their face that the same bear interest at the rates afore-
said.
4. This resolution shall take effect from and after
its passage and approval.
vote:
PASSED AND ADOPTED March 9, 1966, by the following
AYES:
Councilmen Crook, Scotto, Harlowe and Norgard.
NOES: None.
ABSENT: Mayor Buxton.
Ma~6r of the ~itY ~Ukiah, "'
California
Attest:
- -Clt~ Clerk
CLERK'S CERTIFICATE
I, PALOMA R. WEAVER, City Clerk of the City of
Ukiah, California, do hereby certify as follows:
The foregoing is a full, true and correct copy of
a resolution duly adopted by the City Council of said City, at
a regular meeting of said City Council duly and regularly and
legally held at the regular meeting place thereof on March 9,
1966, of which meetin~ all of the members of said City Council
had due notice and at which a majority thereof was present;
At said meeting said resolution was introduced by
Councilman C fl~Ok
_ _
upon, upon motion of Councilman
by Councilman $~t~
vote:
arid read i~ full, and was there-
CrO0~ , , seconded
, adopted by the following
AYES:
Councilmen C~, ~ott$, ~rl~ am~ ~r~rd.
NOES:
ABSENT
I have carefully compared the same with the original
minutes of said meeting on file and of record in my office
and said resolution is a full, true and correct copy of the
original resolution adopted at said meeting and entered in said
minutes.
The original resolution has not been amended, modified
or rescinded since the date of its adoption and the same is now
in full force and effect.
Dated: March ~ 1966
[SEAL]
City Clerk of the City of
Ukiah, California