HomeMy WebLinkAboutResolution 4550 N.C.S. 06/20/1966 INTROJD�UCED ;3Y COUNCILMAN SEGO e �,Y� UNCILMa-.�
l t�
CITY OF PETALUMA
RESOLUTION NO. 455O: N;C..S .
RESOLUTION SELLING $2 , 350 ,000 PRINCIPAL AMOUNT
OF 'CITY OF PETALUMA 1966 SEWER BONDS AND FIX-
ING THE DEFINITIVE RATES OF INTEREST THEREON.
WHEREAS.,, the Council of the City of Petaluma has
duly authorized the issuance of $2 , 350 ,000 principal amount of
.bonds nated deli� "'City Of Petaluma 1966 Sewer Bonds" (:herein
called the "bonds"') and further duly authorized the sale Of
the bonds at public sale to the highest bidder therefor; and
WHEREAS, :notice of the sale of the bonds has been
duly given and the following bids fdi the bonds were and are
the only bids received:, to wit
Name of Bidder Net Interest Cost
Bank of America & Associates $1, 922 , 749 .00
United California Bank & Associates 1 ,947 , 333. 50
I
Crocker-Citizens National Bank 1,971, 912 . 00
Wells Fargo Bank & Associates 1, 987 , 125 . 00
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and �
WHEREAS , the bid of Bank of America & Associates
P.O. Box 3415`; Rincon Annex, San Francisco; California
is the highest bid' ter the bonds , considering the interest rates
specified and the premium, if any , offered ,
NOW) THEREFORE, BE IT RESOLVED by the Council ofl the
City of Petaluma as follows :
1. Said b'id, of Bank of -America &: Associates
for the bonds is hereby accepted and. the Treasurer is hereby
authorized and directed to deliver: the bonds to said purchaser
thereof upon .payment t. the Treasurer of the purchase Trite ,
to wit : The par value thereof and a premium of $ 963,•50
together with accrued, interest at the fo"I'owing rates :
Bond Nutters: Years Interest Rate
(Incl"usave) ' ( Inclusive) Per Annum
1 to 58 1968 to 197'5 5 . 50
59 . to 1'6E 1976 to .1984 3 . 70
3-.6,9 to ?5(?,_ 1985 to 1989 3 .75
251 to 350 1990 to 1994 3 .80
351 to 47'0 1995 to 1999 !3 . 85
to to
The bonds shall bear interest at the rates hereinabove set forth ,
payable semiannuetly on December 1 and June 1 in each year,
except interest for the first year which is. payable annually on
June 1, 1967 ,
2 . All- bids except said accepted 'bid are hereby re-
4j ,cte"d and the Treasurer is hereby directed to ret"urn to the
unsuccessful bidder's. their several checks accompanying their
respective bids .
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3. The City Clerk is directed to cause to be litho-
graphed ,, printed or engraved a sufficient number of blank bonds
and coupons of suitable quality, said bonds and coupons to show
on their face that, the same bear interest at the rates afore-
said .
4 . This resolution shall take effect from and after
its passage and approval .
PASSED AND ADOPTED June 27, 1966 , by the following
vote :
AYES: Cou•ncilmenBATTAGLIA, BRAINERD,, CAVANAGH, JR. , COLIN,
JOERGER', .'LIPMAN, AND MAYOR. PUTNAM.
NOES: NONE .
ABSENT: NONE..
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/
Mayor of t e City of Petaluma,`
California
Attest :
( y er
3
r _ `
CLERK:!S CERTIFICATE.
I, LILLIAN NOMMSEN, City Clerk of the City of
Petaluma, California,. do hereby certify as follows :
The foregoing is a full , true and correct copy of
a 'resolution duly adopted by the Council of said City , at a
regular meeting of said Council duly and regularly and legally
held at the regular melting place thereof on June 27, 1966 ;
of which meeting all of the members of said Council had due
notice and at which a majority thereof was present .
At said :meeting said resolution was introduced bY
Councilman ROBERT, S. LIPMAN and read in full , and was there-
upon ,
u
WXflX XxXjfiXmo`CA2XMM A seconded
by Councilman PHILIP L:. JOERGER , adopted by the following
vote :
AYES : Councilmen BATTAGLIA, BRAPNERD, CAVANAGH , JR. , COLIN,
sr
JOERGER, LIPMAN, AND MAYOR PUTNAM.
NOES: NONE.
ABSENT: NONE.
I have carefully compared the same with the original
minutes of said meeting; on file and of record in my office '
and said resolution is a full, true and. correct copy of the
original. resolution adopted at said meeting and entered in ' said
minutes .
The orig-inal resolution has not been amended, modified
or rescinded since the date of its adoption and the same is now
in full force and effect .
Dated': June 28 , 1966 .
C:ty Clerk df th City of Petaluma,
California
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