HomeMy WebLinkAboutCC RES 73-19
RESOLUTION NO . 73-19
RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF TUSTIN, CALIFORNIA, AWARDING
$950,000 BONDS OF SAID CITY TO THE BEST
BIDDER AND REJECTING ALL OTHER BIDS.
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WHEREAS, at the time and place fixed for the
opening of bids for the $950,000 bonds of the City of
Tustin, California, designated City of Tustin 1973 Civic
Center Bonds and numbered 1 to 190, both inclusive, all
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bids were publicly opened, examined and read, and a
tabulation thereof has been entered 'in the minutes; and
WHEREAS, the bid of the bidder hereinafter
named is the best bid made by a responsible bidder for
said bonds
NOW, THEREFORE, the City Council of the City
of Tustin, California, DOES HEREBY RESOLVE, DETERMINE AND
ORDER as follows:
~ Section 1. That the bid of FIRST WESTERN BANK
... &_ TRUST COMPANY ,.. Manag_er . _ .
offering par, accrued interest to date of delivery and
a premium of $
-0-
for bonds bearing interest
payable annually the first year and semiannually there-
after at the rate(s) of-
Rates Years
5~ % 1980 to 1987
5.40 % 1988 to 1992
i993 to 1996
5.60 % 1997 to 1998
is the bid for said bonds .yielding the lowest net
interest cost. Said bid is hereby accepted and the
bonds awarded to said best bidder in accordance with
the terms of the proposal.
Section -2. That all bids Other than the one
accepted in Section 1 hereof are rejected and the City
Clerk is directed to return tl%e checks accompanying
said rejected bids to the respective bidders,
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Section 3. That the interest rate(s) on said
bonds is (are) hereby fixed at the rate(s) stated in
Section 1 hereof.
Section 4. That the City Treasurer is hereby
directed to deliver said bonds to the successful bidder
upon payment therefor and accrued interest, if any, tO
date of delivery.
ADOPTED, SIGNED AND APPROVJ.,D this 20th day of March, 1973.
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STATE !OF CALIFORNIA)
COUNTY OF ORANGE ) SS
CITY OF TUSTIN )
RUT}{ C. POE, City Clerk 'and ex-officio Clerk of the City
Council of the City of Tustin, California, does hereby
certify that the whole number of the members of the City
Council of the City of Tustin is five; that the above and
foregoing Resolution No. 73-19 was duly and regularly adjourned
introduced, read, passed and adopted at a regular meeting
of the City Council held on the 20th day of March
1973, by the following vote-
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AYES: COUNCILMEN MILLER.~. SALT. A.R?~.LLI, LA~.~LEY, WELSH
NOES: COUNCILMEN NONE
ABSENT: COUNCILMEN WOODRUFF
Clerk,~tY of~' Tustin, C~lif0rn~~
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