HomeMy WebLinkAboutcc min 1965/11/30Held Tuesday
MINUTES OF AN ADJOURNED REGULAR MEETING
OF THE CITY COUNCIL OF THE
CITY OF CHULA VISTA, CALIFORNIA
November 30, 1965
An adjourned regular meeting of the City Council was held in the Coun-
cil Chambers on the above date at 2:00 P.M. with the following Councilmen
present: Councilmen Anderson, Sparling
Absent: Councilmen MeMains, McAllister, McCorquodale
Also present: Administrative Officer Ross, Assistant Administrative Officer
Stenberg, Finance Officer Grant
~,/0PENING OF BIDS - 1965 Golf Course Bonds
This being the time and place fixed for the opening of bids for $895,000
bonds of the City of Chula Vista, designated "1965 Golf Course Bonds", the fol-
lowing bids received pursuant to the notice of sale were lm~ opened, examined
and read:
Security First National Bank and Associates bid par, accrued interest
to date of delivery, and a premium of $171.00 for bonds bearing interest pay-
able annually the first year and semiannually thereafter at the rates of:
Rates Years
5 % 1967 to 1974
3.75% 1975 to 1985
3.80% 1986 to 1991
3.90% 1992 to 1995
Bank of America and Associates bid par, accrued interest to date of de-
livery, and a premium of $359.00 for bonds bearing interest payable annually
the first year and semiannually thereafter at the rates of:
Rates Years
5 % 1967 to 1974
4 % 1975 to 19--
3.75% 1976 to 1985
3.90% 1986 to 1995
United California Bank, Shearson Harmmill & Co., Inc., Taylor & Co.,
J. A. Overton & Co., bid par, accrued interest to date of delivery, and a
premium of $129.50 for bonds bearing interest payable annually the first year
and semiannually thereafter at the rates of:
Rates Years
5 % 1967 to 1974
3.75% 1975 to 1984
3.90% 1985 to 1989
4 % 1990 to 1995
Each bid was accompanied by a good faith check in an amount not less
than $9,000.00.
Ail bids were then referred to Gordon Grant, Herman Zelles and Robert
Powell for checking and computation, a report thereon to be given to the Coun-
cil later in this meeting.
2:35 P.M.
Councilman McMains took his seat at the Council table at this
time.
The committee appointed to check and compute the bids on the bonds for
which bids were opened previously during this meeting reported that the bid
of Security First National Bank and Associates is the bid yielding the lowest
net interest cost:
After considering the various bids and the report thereon, it was moved
by Councilman Sparling and seconded by Councilman McMains that Resolution No.
3921, entitled "RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA,
CALIFORNIA, AWARDING $895,000 BONDS OF SAID CITY TO THE BEST BIDDER AND REJECT-
ING ALL OTHER BIDS," be adopted.
Upon the following vote:
AYES: Councilmen Sparling, McMaims, Anderson
Noes: None
Absent: Councilmen McAllister, McCorquodale
said Resolution No. 3921 was declared adopted.
ADJOURNMENT
Mayor Anderson adjourned the meeting at 3:00 P.M. sine die.
City Cler~f
I~ld Tuesda?
OF T~ CITY ~OL~C~L OF THE
CI~Y OF ~ VISTA, CALIFORNIA
Nov. 23, 1965
The Council met in the Couucil Ch~bara a.t the City Hall on the above date
at 7-.00 po Ho ~tch Cha follovin~ ~o~ncll~an preaeut~
C0~ICILNEH McMa£ns, Anderson, McCozquodale, Spar !!ag
COUHCXLN~ lCcAl~Este~
The Itayor adJov~ned the meetinS uatil Nove~be~ 30, ~965
I~ ~Ch Po ~b~ll, City Clark of the C~Cy of ~ula V~s~ ~ ~y
Cit~ ~il at theLr meCL~ of November 23, ~96~
co, wrY OF SAH D~ ) aao
CITY OF CRULA VISTA )
A~F-'M~AV~.T OF POST~ ORDBR OF
Kenneth Po C~a~bell, b~in~ first duly ~worn depooes and
Of ~e Cl~ o~ ~u~V~ ~C th~ ~egular
of cb ~tl o~ ~e C~cy of ~ula V~ota ~ held Nov. 23, 1965
a~ oaidmCingua ~J~d Co c~ t~ ~ place specifi~ in C~ ~der
of d~nc A~ ~0; ~t on Nov. 24.
aC th ~ o~ 8:~0 oec~ock AH I posc~ a ~p~ o~
~d~ at a conopLc~ place on or ~ Ch d~ o~ the plac~ ac ~ch ~d
maCi~ o~ Novem~z 23. ..~196~n8 held~
Subscribed and svorn to befor~ me ~his
24th day o[
Novembe~ 19 65
~,tat'y Fublic in a,~ for ~ald County f .....................
a~l S~aCa et Cal/toFula [~ GORDON K. GRANT