HomeMy WebLinkAbout81-142RESOLUTION NO. 81-142
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA ANA AWARDING THE SALE OF IMPROVEMENT BONDS
TO THE LOW BIDDER
WHEREAS, the City Council of the City of Santa Ana, by
Resolution No. 81-155 adopted on September 21, 1981, called
for bids for the sale and issuance of improvement bonds to
be issued by the City in Assessment District No. 246 pursu-
ant to the Improvement Bond Act of 1915; and
WHEREAS, notice of the sale of the bonds has been duly
given in the manner prescribed by that resolution and the
following bid(s) for the bonds were and are the only bids
received by the City Council, to wit:
NAME OF BIDDER
Merrill Lynch White Weld
Capital Markets Group
- Manager -
NET INTEREST COST
TO CITY
$4,551,753.80
AND WHEREAS, the bid of Merrill Lynch White Weld
Capital Markets Group - Manaqer - is the best bid for the
bonds, considering the interest rate(s) specified, discount
requested or the premium offered;
NOW, THEREFORE, BE IT RESOLVED AND ORDERED BY THE CITY
COUNCIL OF THE CITY OF SANTA ANA, STATE OF CALIFORNIA, AS
FOLLOWS:
1. The bid of Merrill Lynch White Weld
Capital Markets Group - Manaaer - for not to exceed
$3.~00.000 par value of the bonds shall be and is hereby
accepted and upon final determination of the total aggre-
gate amount of bonds to be issued, and upon their issuance,
the Director of Finance or his designee is hereby authorized
and directed to deliver the bonds to the purchaser upon pay-
ment to the Director or his designee of the purchase price.
The bonds shall bear interest at the rate(s) hereinbelow set
forth, payable January 2, 1983, and semiannually thereafter:
RESOLUTION NO. ~1-142
PAGE TWO
Interest Rate Interest Rate
Years Per Annum Years Per Annum
19Rq l0 % 1991 10 %
19~_~ 10 % 19.92 10%
1985 10 % 199__~3 10 %
1986 10 % 1994 10 %
1987 10 % 1995 10 %
1988 10 % 1996 10 %
1989 10 % 1997 10 %
1990 10 %
2. Ail bids except the bid of Merrill Lynch White
Weld Capita~ Markets Group are hereby rejected and the
City Clerk is hereby ordered and directed to return to the
unsuccessful bidders the checks accompanying their respec-
tive bids.
PASSED AND ADOPTED this
1981, by the following vote:
2nd day of November ,
AYES:
COUNCILMEMBERS: Acosta, Bricken, Griset, Luxembourger,
McGui§an, Serrato
NOES: COUNCILMEMBERS: Markel
ABSENT: COUNCILMEMBERS: None
Gordon Bricken
Mayor of the City of Santa Ana
ATTEST: APPROVED AS TO FORM:
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