HomeMy WebLinkAboutResolution 1959 - 0754RESOLUTION NO.754-2
RESOLUTION OF THE BOARD OF DIRECTORS OF COUNTY SANITATION
DISTRICT NO.2 OF ORANGE COUNTY,CALIFORNIA,AWARDING
$4,000,000 BOI~~S 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 $4,000,000 bonds of County Sanitation District No.2 of
Orange County,designated ELECTION 1958,SERIES B,all bids were
publicly opened,examined and read,and a tabulation thereof has
b3en 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.2 of Orange County,California,does hereby RESOLVE,
DETERJ~IINE AND ORDER as follows:
Section 1.That the bid of Bank of America National Trust
and Savings Association,American Trust Company,San Francisco,and
Associates offering par,accrued interest to date of delivery and
a premium of $2,069.00 for said bonds to bear interest payable
annually the first year and semiannually thereafter at the rates of:
Rates Years
6.00 7~1961 to 1975
4.00 7~1976 to 1987
.75 7~1988 to 1939
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 proposals.
Section 2.That said bid accepted in Section 1 hereof did
request that a copy of the approving legal opinion,certified by
the Secretary of the district by her facsimile signature,be printed
on the back of each bond at the expense of the bidder.
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Section 3.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 4,That the interest rates on said bonds are hereby
fixed at the rates stated in Section 1 hereof.
Section 5,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 above and foregoing Resolution No.754-2 was regularly
passed and adopted by the Board of Directors of County Sanitation
District No,2 of Orange County,California,at a regular adjourned
meeting of said Board held on the 24th day of November,1959.
___________
~ra Mae Merritt,Secretary of the
Board of Directors of County
Sanitation District No0 2 of
Orange County,California
STATE OF CALIFORNIA)
ss
COUNTY OF ORANGE )
I,ORA MAE MERRITT,Secretary of the Board of Directors of
County Sanitation District No.2 of Orange County,California,do
hereby certify that the above and foregoing Resolution No.754~2
was regularly passed and adopted at a regular adjourned meeting of
said Board on the 24th day of November,1959,by the following
roll call vote,to wit:
AYES:Directors Frank J.Schweitzer,Jr.,Howard N.Cornweli,
Glenn C.Fry,A.Allen Hall,Rex A.Parks and Robert
Wardlow
NOES:Directors None
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ABSENT:Directors W0 A.MacKinnon,Raymond L,Pound,
Walter W.Walker and William H.Hirstein
IN WITNESS l~HEREOF,I have hereunto set my hand and affixed
the official seal of County Sanitation District No.2 of Orange
County,California,this 24th clay of November,1959.
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Ora Mae Merritt,Secretary of
The Board of Directors of
County Sanitation District No.2
Of Orange County,California