HomeMy WebLinkAboutReso 1960-2473 r
RESOLUTION NQ. 2473
RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF CHULA ZEMTA
AWARDING $ 1,250.000 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 $ 1.250,000 bonds of the
City of Chula Vista , California, designated
HARBOR DEVELOPMENT BONS 1 1q60, ,
and numbered 1 to 1,250 , both inclusive, all bids
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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
Chula Vista , California, DOES HEREBY RESOLVE, DETER-
MINE AND ORDER as follows:
Section 1. That the bid of
.ude
Security First National Bank
L11
■ers
Li- offering par, accrued interest to date of delivery and a
premium of $ 51.00 for said bonds to bear interest
payable annually the first year and semiannually thereafter
at the rates of:
y Bonds-.
rd Resn. .
Rate Years
41 . 1961 to 1965
3.75 % 19 66 to 19 75
4 19 76 to 19 80
19 to 19
% 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 bidder in accordance with the terms of its proposal.
Section 2. That said bid accepted in Section' 1
hereof did request that a certified copy of the approv-
ing legal opinion of O 'Melveny & Myers be printed on the
back of each bond at the expense of the successful bidder.
Section 3. That all bids other than the one
accepted in Section 1 hereof are rejected and the City Clerk
is directed to return the checks accompanying said rejected
bids to the respective bidders .
Section 4. That the interest rate(s) on said
bonds is (are) hereby fixed at the rate(s) stated in
Section 1 hereof.
Section 5, 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
2.
Bonds-
Resn. ` ' "
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the premium above stated.
ADOPTED, SIGNED- AND APPROVED this 21st daY
of June , 19 60 .
OMIIP
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1, ayor o e C y o
Chula Vista, California
ATTEST:
44)*-6
6t4- 144i
Citk o f the Cit 'of
Chula Vista, California
�.° gy „ :t . ,
'pi [Add customary adoption certificate
and on copy returned to O 'Melveny &
Myers also add copy certificate]
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3.
to . fir, . y• 4". ` , ' . . `.r♦ 4�' a�F l
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' STATE OF CALIFORNIA . ° . . . , '
, COUNTY OF ' SAI,=DIEGO' , ,as. , ` ` '•
' CITY OF - C3HULA «VISTA • ,
. 1 , _ KENNETH .P. CAMPBELL ' , , City Clerk
of the City of `Chula°Vista ' , California', DO HEREBY ,
CERTIFY that the ',foregoing-resolution `Wes duly- adopted '
•'by• the City Council of said city and was, approved by the
Mayorr of said city ,at ate; Adjourned regular meeting of ,
said City Council held on, the 9- * day of June` , ,
' 19,x, and- that ,it was so adopted as follows,: . •
AYES: Councilmen DeGraaf.Menzel;McMains '
` McAllister' ,
NOES: ' C ounc i linen None '
' 'ABSENT: Councilmen ' . Smith
. dee, .
.r�* ,L� '.4'' C1 Clerk o. G�Cit of
.� (SEAI, �, . • • • ' Chula Vista, , California .
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