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RE~0L~TION NO. 3466
<br />
<br />~E$0L~TION AWARDING $1,500,000
<br />MUNICIPAL IMPROVEMEI~ BONDS OF
<br />THE CITY 0F SANTA ANA, AND FIXING
<br />THE INTEREST RATE TIn. EON.
<br />
<br /> WHEREAS, the council of the City of Santa ~-a, by Ora~ance
<br />No. 1164, provided for the issuance of $1,500,000 of bonds to be
<br />designated SMUNIOIPAL IMPROVEMENT BONDS 1945", to be dated July 1,
<br />1946, of the denomination of $1,000 each, numbered in consecutive
<br />numerical order from one (1) to one thousand five hundmed (1600),
<br />inclusive, ~d maturing in consecutive nume~ical o~der seventy-five
<br />(75) bonds annually on July 1 in each of the yearns fx~m July 1, 1947
<br />to july 1, 1966, both inclusive; and
<br /> w~u~rd~J~, sealed proposals for the purchase of said bonds have
<br /> been duly an~ regulamly received, opened and publicly declared; and
<br /> Wti~t~ the best bid for said bonds is the bid of the bidders
<br />
<br />hereinafter n~ned;
<br /> N0~, Tw~..~E~0HE, the Council of the City of Santa And, California,
<br />does hereby resolve, detex-,~ne an~ order as follows:
<br /> Section 1. That the interest rates to be paid on said
<br />$1,500,000 of bonds are hereby fixed and dete~nined as follows: bonds
<br />numbered 1 to 600, inclusive, shall beam interest at the rate of 2%
<br />per ..num, payable semiannually; bol~s n,,mbered 501 to 1500, inclusive,
<br />shall beam interest at the rate of 1~ per =,num, payable semiannuallye
<br /> Section 2. That the bid of Halsey, Stusmt and .Co., Inc., for
<br /> said $1,500,000 of bonds, beaming interest at the rates above stated,
<br /> be and the same is hereby accepted and said bonds a~e hereby ~amded
<br /> and sold to Halsey, St,,a~t and Co., Inc., in accordance with the terms
<br /> of said' bt~. at the price of para, accrued interest to date of delivery,
<br /> and a premium of eSl?eSO, and the Treasurer of the City of Santa And
<br /> is hereby authorized and directed to deliver said bonds to said
<br /> purchasers upon the paymen~ of said purchase prices
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