HomeMy WebLinkAboutCC RESO 4616RESOLUTION NO.
RESOLUTION OF Hit CITY COUNCIL OF
THE CITY OF NATIONAL CITY AWARDING
Siwi BONDS, 1946, OF SAID CITY TO
THE BEST BIDDER.
WHEREAS, at the time and place fixed for the
opening of bids for the $207,000 of the SEWER BONDS,
1946, of the City of National City, numbered 109 to
515, inclusive, all bids were publicly opened, exam-
ined, and read, and a tabulation thereof has been
entered in the minutes; and
WHEREAS, the bid of the bidder hereinafter
named is the highest and best bid made by a respon-
sible bidder for said bonds;
NOW, illbEEFORE, the City Council of the City
of National City, DOES HEREBY RESOLVE AND DETERMINE as
follows:
Section 1. That the bid of BANK OF AMERICA
NATIONAL TRUST AND SAVINGS ASSOCIATION, offering par,
accrued interest to date of delivery, and a premium of
for said $207,000 of bonds to bear intereat
at the rate of % per annum, payable semiannually, is
the highest and best bid for said bonds. Said bid is
hereby accepted and the bonds awarded to said bidder
in accordance with the terms of its 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 on said
207,000 of bonds be and it ler€by is fixed at
% per annum, payable semiannually.
Section 4. The City Treasurer is hereby
directed todeliver said bonds to the successful
bidder upon the payment of par, accrued interest
to date of delivery, and the premium above stated.
ADOPTED, SIGNED AND APPROVED this
day of , 1948.
Mayor of the City of
ATTEST: National City, California.
City Clerk of the City
of National City, Cali—
fornia* (SEAL)
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