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HomeMy WebLinkAboutResolution 1958 - 0577RESOLUTION NO.577-11 RESOLUTION OF THE BOARD OF DIRECTORS OF COUNTY SANITATION DISTRICT NO.11 OF ORANGE COUNTY,CALIFORNIP,AWPRDING $1,515,000 BONDS OF SAID DISTRICT TO THE BEST BIDDER AND REJECTING ALL OTHER BIDS. WHEREAS,at the time and place fixed for the opening of bids for the $1,515,000 bonds of County Sanitation District No.11 of Orange County,designated ELECTION 1958,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 Board of Directors of County Sanitation District No.11 of Orange County,California,does hereby RESOLVE, DETERMINE AND ORDER as follows: Section 1.That the bid of Security First National Baflk of Los Angeles,Ca1ifor~ia,-Co-Manager Blyth &Co.,Inc.-Co-Manager Allen (E.Ray)&Company,Inc. Bacon,Whipple &Co. Boettcher and Company J.C.Bradford &Co. Braun,Bosworth &Co.,Incorporated Edward L.Burton &Company California Bank Commerce Trust Company Equitable Securities Corporation First Western Bank &Trust Company Frantz Hutchinson &Co. Glore,Forgan &Co. Goldman,Sachs &Co. Hannaford &Talbot Harriman Ripley &Co.,Incorporated Ira Haupt &Co. J.A.1-togle &Co. Hornblower &Weeks E.F.Hutton &Company McDonald-Moore &Co. R.H.Moulton &Company R.W.Pressprlch &Co. Rand &Co. The Robinson-Humphrey Company,Inc. Schwabacher &Co. Shearson,Hammill &Co. Herbert J.Sims &Co.,Inc. William R.Staats &Co. Stern Brothers &Co. Taylor and Company White,Weld &Co, —1— offering par,accrued ±nterest to date of delivery arid a premium of $521.00 for said bonds to bear interest payable annually the first year and semiannually thereafter at the rates of: Rates Year 6%1960 -1974 4%1975 -1976 3-3/4%1977 -1986 4%1987 -1989 1%1990 -1999 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 Secretary of the district is directed to return the check accompanying said rejected bids to the respective bidders. Section 3.That the interest rates on said bonds are hereby fixed at the rates stated in Section 1 hereof. V Section 4.The County Treasurer of Orange County is hereby directed to deliver said bonds to the successful bidder upon the payment of par,accrued interest to date of delivery and the premium above stated. The foregoing Resolution No.577-11 was passed and adopted at a regular adjourned meeting of the Board of Directors of County Sanitation District No.11 on the 19th day of November,1958. ~ Secretary,Board of Direc ors County Sanitation District No.11 Orange County,California -2- S.STATE OF CALIFORNIA) ss COUNTY OF ORANGE ) I,ORA MAE MERRITT,Secretary of the Board of Directors of County Sanitation District No.11 of Orange County,California, do hereby certify that the above and foregoing Resolution No.577-11 was regularly passed and adopted at a regular adjourned meeting of said Board on the 19th day of November, 1958 by the ronowing roll call vote: AYES:Earl T.Irby,Victor Terry and William H.Hirstein. NOES:None ABSENT:None IN WITNESS WHEREOF,I have hereunto set my hand and affixed the official seal of County Sanitation District No.11 of Orange County,California,this 19th day of November,1958. Seci~~ry,Board of Directors County Sanitation District No.11 Orange County,California -3-