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HomeMy WebLinkAboutReso 1496-1949422 RESOLUTION NO, 1A96 S~LING CITY OF SOUTH SAN FRANCISCO S~VAGE DISPOSAL BONDS - 19A9, SERIES A ~HEREAS, the City Council of the City of South San Francisco heretofore duly authorized the issuance of $100,000 principal amount of bonds of the City of South San Francisco, to be known an "City of South San Francisco Sewage Disposal Bonds - 19&9, Series A," all dated October lA, 19&9, 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 Premium American Trust 'Company, R. H. Moulton & Co. and Blair & Co., Inc. $ 3 73o.oo Bank of America National Trust and Sa, ings Association Weeden & Co. 3,121.00 3' 075. OO John Nuveen & Co. 2,198.00 AND ~EREAS, ths said bid of American Trust Company, R. H. Moulton & Company and Blair & Co., Inc. is the highest and best bid for said bonds, considering the interest rate specified and the premium offered9 NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of South San Francisco as follows, to wit: 1. Said bid of American Trust Company, R. H. Moulton & Company and BAAir & Co., Inc. for $100,000 par value of said bonds shall be, and is hereby accepted and the Treasurer of the City of South San Francisco is hereby authorized and directed to deliver said bonds to said purchaser thereof upon the paymen~ to said Treasurer of the purchase price, to wit: said par value.thereof and a premium of $3,730.00, together with accrued interest at the following rate: Bond Numbers (inclusive) Interest Rate Per Annum A1 to AlO0 2-1/~% Said bonds shall bear interest at the 'said rate hereinab&we set forth, payable semi-annually on June 15th and December 15th (the first coupon on each bond representing interest from October 15, 19~9 to December 15, 19A9). 2. That all bids except the bid of American Trust Company, R. H. Moulton & Company and Blair & Co., Inc. 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 tobe lithographed, printed or engraved a sufficient n.~nb~r 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 aforesaid~ RESOLVED, FURTHER, that this resolution shall take effect from and after its passage and approval. PASSED AND ADOPTED this 27th day of October, 19A9, by the following vote: AYES, Councilmen Victor Boido, Leo Ferko, Adolph Sani, Emilio Cortesi. NOES: Councilmen None ABSENT: Councilman Chas. K. Elder LEO FERKO May~r of the City of South San Francisco, Calif~ Attest: DANIEL J. HYLAND City Olerk Presented to and approved by me this 27th day of October, 19A9. LEO FERKO Mayor. of. the City of South Sa~ Francisco, Calif.