HomeMy WebLinkAboutCC Resolution 4369RESOLUTION N0. 4369
RESOLUTION AUTHORIZING SALE OF BONDS IN CONNECTION
WITH THE SAN RAFAEL OPEN SPACE GENERAL OBLIGATION
BOND ISSUE, CITY OF SAN RAFAEL, MARIN COUNTY,
CALIFORNIA
WHEREAS, the City Council of the City of San Rafael,
Marin County, California, has duly authorized the issuance of the
San Rafael Open Space Bonds in the principal amount of $2,250,000
and further duly authorized the sale of said bonds at public sale
to the highest bidder therefor; and
WHEREAS, notice of sale of said bonds has been given and
bids were received offering to purchase said bonds; and
WHEREAS, DEAN WITTER & CO., INCORPORATED, has offered to
purchase all of the bonds in accordance with the terms and conditions
of the notice of sale for said bonds;
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of San Rafael that said bid of DEAN WITTER & CO., INCOR-
PORATED, for the bonds is hereby accepted and the City Treasurer
of the City of San Rafael is hereby authorized and directed to
deliver the bonds to said purchaser thereof upon payment to the
City Treasurer of the purchase price, and at the rate or rates of
interest all as shown on the attached bid proposal of DEAN WITTER &
CO., INCORPORATED, designated as Exhibit "A" and hereby made a
part hereof, plus accrued interest from the date thereof until paid,
and in accordance with all of the terms and conditions of the notice
of sale for said bonds.
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F
I HEREBY CERTIFY that the foregoing Resolution was duly
and regularly adopted by the City Council of the City of San
Rafael, Marin County, California, at a regular meeting thereof,
held on the 5th day of February, 1973, by the following vote, to wit:
AYES: Councilmen : Jensen, Miskimen, Mulryan and Mayor Bettini
NOES: Councilmen : None
ABSENT: Councilmen _ Nnne
MARION A. GRADY, City Clerk,
City of San Rafael, Marin County,
California
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DEAN WITTER & CO.
IAICOKPORATED
MEMBER NEW YORK STOCK EXCHANGE, INC.
1299 FOURTH STREET • SAN RAFAEL, CALIFORNIA 94902
TELEPHONE • (415) 457-9220
February 5, 1973
City Clerk, City of San Rafael
City Hall
1400 Fifth Avenue
San Rafael, California
Gentlemen:
In accordance with your Notice of Sale dated January 15, 1973, inviting bids
on $2, 250, 000 City of San Rafael Open Space Bonds, we hereby bid you
par plus a premium of $611.20 and accrued interest to date of delivery,
for bonds bearing interest at the following rates:
$ 10,000 due 7-1-74 at 52%
60,000 due 7-1-75 at 52%
70,000 due 7-1-76 at 5;%
80,000 due 7-1-77 at 5z%
85,000 due 7-1-78 at 51%
90,000 due 7-1-79 at 5z%
90,000 due 7-1-80 at 52%
95,000 due 7-1-81 at 5.2%
100,000 due 7-1-82 at 5;%
110, 000 due 7-1-83 at 4.60
115, 000 due 7-1-84 at 4.50
120,000 due 7-1-85 at 4.60
125,000 due 7-1-86 at 4.70
135,000 due 7-1-8'7: at 4. 80
140,000 due 7-1-88 at 4. 80
City Clerk, Ci*v of San Rafael
Page 2
$ 150, 000 due 7-1-89 at J4.90
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155, 000 due 7-1-90 at 4. gd
165, 000 due 7-1-91 at 5. 00
170,000 due 7-1-92 at .5-00
185, 000 due 7-1-93 at 4. 00
All the terms and conditions of your Notice of Sale are hereby incorporated
in and made part of this bid. It is our understanding that the City will bear
the cost of printing the bonds.
Enclosed is our cashier's check in the amount of $15, 000, which is to serve
as our good faith deposit on this issue.
Sincerely
DEAN WITTER & CO., INCORPORATED and
Goldman Sachs & Company
John J. Roth, Jr.
Vice President
JJR:kc
Enclosure
P. S. For information purposes only, we estimate our net interest cost to
be 4. Sl a /