HomeMy WebLinkAbout74-091RESOLUTION NO. 74-91
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA ANA, CALIFORNIA, AWARDING
$1,950,000 BONDS OF SAID CITY TO THE
BEST BIDDER AND REJECTING ALL OTHER BIDS
WHEREAS, at the time and ~lace fixed for the opening
of bids for the $1,950,000 water revenue bonds of the City
of Santa Ana, California, designated "1962 Water Revenue
Bonds, Series C" and numbered C-1 to C-390, both inclusive,
all 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 Santa
Ana, California, DOES HEREBY RESOLVE, DETERMINE AND ORDER
as follows:
Section 1. That the bid of Dean Witter & Co.; Inc.,
in association with A.G. Becker & Co., Inc., and Clark, Dodge
& Co., Inc. offering par, accrued interest to date of delivery
and a premium of $294.00 for bonds bearing interest ~ayable
annually the first year and semiannually thereafter at the
rate Cs) of:
Rates Years
7.00% 1975 to 1989
6.40% 1999 to 19
% 19 to 19
% 19 to 19
% 19 to 19
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 the checks accompanying said
rejected bids to the respective bidders.
Section 3. That the interest rate(s) on said
bonds is Care) 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.
RESOLUTION NO. 74-91
PAGE TWO
PASSED AND ADOPTED by the City Council of the City
of Santa Ana at its requla~ meeting held on the 3rd
day of June , 1974.
ATTEST:
CLERK OF THE COUNCIL
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF SANTA ANA )
I, FLORENCE I. MALONE, do hereby certify that I am the
Clerk of the Council of the City of Santa Ana; that the fore-
going Resolution was introduced to said Council at its
regular meeting held on the 3rd day of June ,
1974, and was at said meeting pas~ and adopted by the
following vote, to wit:
AYES,
NOES,
ABSENT,
COUNCILMEN:
COUNCILMEN:
COUNCILMEN:
Yamamoto, Garthe, Markel,
Patterson, Griset
None
Evans, Ward
APPROVED AS TO FORM: