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.