HomeMy WebLinkAboutReso 1106-1946 ""~" "i .... r, '' ' '~' . ia~nCloCO did_,
,,~R~'~S the ~ity Council of tko ~zt;.r o~ 3~,-h]] S:<tn ~" .... '~' in coon
session, on t~e 14th day of ~ay, 10%6, publiclN o)lsn ~nd examine all bids or ]proposals
submitted fop tile purcls&se or ;}810,00o.00 municipal i~oRis authorized a~ a special
election lqeld on tko Slst day of f~u&lust~ 194S, ,,vhicl~ bonds are fully clOSeFiSted
Resolution ~(o. 1097 of said City Council entitled: ~A rese!ution directin6 and pre-
' ~' _, ~' .~ne~.,stolnc of tho Cib}r Crf South San Pr~%cisco~
vic ln~q Fop t~e inc,*Pin,l; of i)onc!e{ ~ --,v ~r ,~,q _
a municipal COPpOPation~ in the County ofo~-~-u }~,boo~ ..... Stahe of Jalifornia,. in
~aered and Ten Thous~td Dollars (}2!0,000.00), lavzful money of the United.
States of ~]erica~ to 'pay the costs of certain municipal imnrovements~ ~:~ ~ in sr~d :..r said
City of Soutl~ San ~"r&ncisco, authorized at a special election held in ,:~ cl ,, on the
31st day of Auoust, 1945~ and previdin(~ .CoP hbo issuance of bonds evidencin_2 such
indebtedness, specifying tile fo~ of said bonds, &m_d providinS fop a tax levy fop the
pa[~ent, thereof, and creatin?_.~ a municipal improvement bond fund", ado.)toS_ 'by said 0ity
Council on the 29tl~ day of April, 1945;
RESOLVED by tko City Council of t.!ie City of South San Pranci. sco that said
City Com~cil hereby rejects all said bids or proposals except that next l~ereinafter
mentioned and hereby accepts ti%e proposal of Barak of ~.merica Trust and Savings
Association, a national banking association, to purcl%ase said bonls.
Said City Council hereby fixes the rate of interest ~.vbick said bands shall
bear, as follows:
Bonds numbered 1 to 55~, inclusive, s!tell bear interest at 'tho rate of four
per cent (4jJ} per annum; bonds nm~bered 55 to 220, inclusive, shall bear interest at
'the rate of one and one-quarter per cent (1.25p~) per a~%~a.
The City Treasurer is hereby directed to deliver said bonds to said Sank
of America National Trust and Savin.!is Association upon the payment of the sum of
Hundred and Ten Thousand and Fifty-nine Dollars (~i}210,059.00) and interest accrued to
the date of delivery.
I hereby certify that tl~e foregoing resolution was re~larty intro4uced
and adopted by the City Council of the City of South San Francisco, this 80th day of
May, 1946, by tt~e following vote:
Ayes, Councilmen, .l-co. W. Xolston, Chas.K. Elder, Leo Ferko, Adolph Sani, ~llio CoPe,~°i
Noes, Councilmen, None
Absent, Councilmen, None
At 'he st:
DANIEL J.
,~it¥ '~lerk