HomeMy WebLinkAboutReso 1626-1951 RESOLUTION NO. 1626
SELLING CITY OF SOUTH SAN FRANCISCO SEWAGE DISPOSAL
BONDS - 1949, SERIES B.
~;~EREAS the City Council of the City of South San Francisco heretofore duly authorized
the issuance of $300,000 principal amount of bonds of the City of South San Francisco, to be known
as "City of South San Francisco Sewage Disposal Bonds - 19A9, Series B," all dated December 15, 1950,
and further duly authorized the sale of said bonds at public sale to the highest and best bidder
therefor; and
?,~EREAS notice of the sale of said bonds has been duly given in the manner prescribed
bv 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 & Comoany
and Blair, Rollins & Co., Inc.
Bank of America National Trust and
Savings Association
39.00
Weeden & Co., and Dean Witter & Co.
202.00
Kaiser & Co., California Bank, Paine,
Webber, Jackson & Curtis
42.00
AND WHEREAS the said bid of American Trust Company, R. H. Moulton & Company, Blair
Rollins & Co., Inc. is the highest and best bid for said bonds, considerin~ the interest rate speci-
fied in said bid and thepremium offered;
NOW, THEREFORE, BE IT RESOLVFD 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 Blair, Rollins
& Co., Inc. for $300,000 par value of said bonds shall be, and is hereby accepted and the Treasurer
of the said bonds shall be, and is hereby accepted and the Treasurer of the City of South San Fran-
cisco is hereby authorized and directed to deliver said bonds to said purchaser thereof upon the pay-
mane to said Treasurer of the purchase price, to-wit: said par $alue thereof and a premium of $1.00
together with accrued interest at the following rates:
Bond Numbers (Inclusive)
Interest Rates Per Annum
B1 to BSO 4%
B31 to B130 1-1/4%
B131 tJ BSO0 1-1/2%
Said bonds shall bear interest at said rates hereinabove set forth, payable semi-annually on June 15th
and December 15th.
2. That all bids, except the bid of American Trust Comoany, R. H. Moulton & Company
and Blair, Rollins & Co., Inc., are hereby rejected and the City Clerk is hereby ordered and directed
to return to the unsuccessful bidders their several checks'~acdompanying their respective bids.
3. The City Clerk is directed to cause to be litho~raphed, printed or engraved a suf-
ficient number of blank bonds and coupons of suitable quality, said bonds and coupons tto show on
their face that the same bear interest at the rates aforesaid.
and approval.
RESOLVED, FURTHER, thatthis resolution shall take effect from and after its passage
PASSED AND ADOPTED this 31st day of January, 1951, by the following vote:
Ayes, Councilmen Charles K. Elder, Adolph Sani, Rmilio Cortesi
Noes, Councilmen, None
Absent, Councilmen Victor Boido, Joseph Bracco
Attest: Daniel J. Hyland
City Clerk
Adolph Sani
Mayor of the City of South
San Francisco, California
Presented to and approved by me this 31st day of January, 1951.
Adolph Sani
Mayor of the City of South San
Francisco, California