HomeMy WebLinkAboutCC Resolution 3095��5,
RESOLUTION NO. 3 -
SELLING BONDS OF PARKING DISTRICT NO. 1 OF THE CITY OF SAN RAFAEL,
SERIFS B
WHEREAS, the City Council of the City of San Rafael, by
Resolution No. 3065, adopted June 15, 1964, duly authorized the
issuance of $250,000 principal amount of bonds designated as "Bonds
of Parking District No. 1 of the City of San Rafael, Series B"
(herein called the "Series B Bonds"), all dated July 1, 1964, and,
by Resolution No. 3066, adopted June 15, 1964, duly authorized the
sale of the Series B Bonds at public sale to the highest responsible
bidder therefor;
WHEREAS, notice of the sale of the Serie: B Bonds has
been duly given in the manner prescribed by said Resolution No. 3066,
and the following bids for the Series B Bonds were and are the only
bids received by the Council:
Name of Bidder
Dean Witter & Co.
Merrill Lynch, Pierce, Fenner &
Smith
:Yet Interest
Cost to City
$168,440.50
$1752600.00
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and
WHEREAS, the bid of Merrill Lynch, Pierce, Fenner & Stdith
is the highest
responsible bid for the Series B Bonds, considering the interest
rate(s) specified and the premium offered;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of San Rafael, as follows:
1. Said bid of Merrill Lynch, Pierce, Fenner & Smith
for $250,000
par value of the Series B Bonds is hereby accepted, and the City
Treasurer is hereby authorized and directed to deliver the Series
B Bonds to said purchaser thereof upon payment to the City Treasurer
of the purchase price, namely, said par value thereof and a premium
of $ 5.00 together with accrued interest at the following
rate(s):
Bond Numbers
(inclusive)
B1 to B 45
B 46 to B 65
B 66 to B 250
B to B
B to B
Interest Rate
Per Annum
5
3-3/4
3.9�
The Series B Bonds shall bear interest at said rate(s), payable
semiannually on January 1 and July 1 in each year.
2. All bids except the bid of Merrill Lynch, Pierce,
Fenner & Smith
are hereby rejected,
and the City Clerk is hereby directed to return to the unsuccess-
2
ful bidders their several checks accompanying their respective
bids.
3. This resolution shall take effect from and after its
passage and approval.
PASSED AND ADOPTED this 27th day of July, 1964, by the
following vote:
AYES: Councilmen Aby, Saar, Barbier, Jensen, ud Mayor Mclnnis-
NOES:
ABS ENT :
ayoV of the City of San Rafael
[SEAL]
Attest:
p Deputy
City,,,elerX. of the CTty of San Rafael
3
CLERK'S CERTIFICATE
I, W. L. Morgan, City Clerk of the City of San Rafael,
California, hereby certify that the foregoing is a full, true
and correct copy of a resolution duly adopted at a regular
meeting'of the City Council of said City duly and regularly
held at the regular meeting place thereof on the 27th day of
July, 1964,. of which meeting all of the members of said City
Council had due notice and at which a majority thereof were
present; and that at said meeting said resolution was adopted
by the following vote:
AYES: Councilmen
NOES:
ABSENT:
Aby, Bair, Garbler, Jensen, and Mayor MQIuk.
I further certify that I have carefully compared the
same with the original minutes of said meeting on file and of
record in my office; that said resolution is a full, true and
correct copy of the original resolution adopted at said meeting
and entered in said minutes; and that said resolution has not
been amended, modified or rescinded since the date of its
adoption, and the same is now in full force and effect.
WITNESS my hand and the seal or the City of San Rafael
this :�day of July, 1964.
/ W. L. MORGAN
City Clerk of the City of San Rafae
(SEAL)
J
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