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RESOLUTION NO. 8927
RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF NATIONAL CITY , CALIFORNIA,
AWARDING $ 600,000 BONDS OF SAID
CITY TO THE BEST BIDDER AND REJECTING
ALL OTHER BIDS.
WHEREAS, at the time and place .fixed for the
opening of bids for the $ 600,000 bonds of the
City of National City , California, designated
"City of National City, 1965 Civic Center Bonds"
and numbered 1 to 120 , 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
National City r California, DOES HEREBY RESOLVE, DETER-
MINE AND ORDER as follows:
Section 1. That the bid of
SECURITY FIRST NATIONAL BANK
offering par, accrued interest to date of delivery and a
premium of $ 51.00 for bonds bearing interest pay-
able annually the first year and semiannually thereafter
at the rate(s) oft
Rates Years
4.75 % 1966 to 1973
3.40 % 1974 to 1979
3.50 % 1980 to 1984
3.60 A► 19 85 to 19 90
% .19 to 19
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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 tp return the checks accompanying said
rejected bids to the respective bidders,
Section 3. That the interest rates) 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 APPROVED this 25th day of
May 19 65
ATTEST:
City Clerk of the Ci of
National City, Cali rnia.
(SEAL)
yor of'th4'Cit of Nat a a1
City, Califor a.
2.
STATE OF CALIFORNIA
COUNTY OF SAN DIEGO ss.
CITY OF NATIONAL CITY
I, IONE MINOGUE , City Clerk
of the City of N tional City , California, DO HEREBY
CERTIFY that the foregoing resolution was duly adopted
by the City Council of said city and was approved by the
Mayor of said city at a regular meeting of
said City Council held on the 25th day of May
1965 , and that it was so adopted as follows:
AYES: Councilmen Alien, Colburn, Hogue,
Morgan, Gautereaux
NOES: Councilmen None
(SEAL)
ABSENT: Councilmen None
CityG].erk of the C ty of
National City, California.