HomeMy WebLinkAboutResolution 1959 - 0756RESOLUTION NO.755-3
RESOLUTION OF THE BOARD OF DIRECTORS OF COUNTY
SANITATION DISTRICT NO.3 OF ORANGE COUNTY,
CALIFORNIA,AWARDING $3,300,000 BONDS OF SA1D
DISTRICT TO THE BEST BIDDER AND REJECTING E~LL
OTHER BIDS
WHEREAS,at the time and place fixed for the opening of bids
for the $3,300,000 bonds of County Sanitation District No,3 of
Orange County,designated ELECTION 1058,SERIES B,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.3 of Orange County,California,does hereby RESOLVE,
DETERNINE 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 $8,449.00 for said bonds to bear interest payable
annually the first year and semiannually thereafter at the rates of:
Rates Years
6.00%1961 to 1973
5.257.1974
4.00%1975 to 1937
.75%1933 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.
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.756~3 was regularly
passed and adopted by the Board of Directors o~E County Sanitation
District No.3 of Orange County,California,at a regular adjourned
meeting of said Board held on the 24th day of November,1959.
~
Or~Mae Mer~itt~Secretary of the
Board of Directors of County
Sanitation District No.3 of
Orange County,California
STATE OF CALIFORNIA)
55
COUNTY OF ORANGE )
I,ORA ~E MERRITT,Secretary of the Board of Directors of
County Sanitation District No,3 of Orange County,California,do
hereby certify that the above and foregoing Resolution No.756~3
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 Howard M,Corn~ell,Thomas Baroldi,
Herbert Cook,John R.Dunham,Glenn G.Fry,
Paul C.Furman,Earl T.Irhy,Jim Kanno,
Frank J.Schweitzer,Jr.,and William H.Hirstein
NOES:Directors None
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ABSENT:Directors W.A.MacKinnon,John W.Stecko
and Walter W.Walker
IN WITNESS WHEREOF,I have hereunto set my hand and affixed
the official seal of County Sanitation District No.3 of Orange
County,-California,this 24th day of November,1959
ra Mae Merritt,Secretary of
The Board of Directors of
County Sanitation District No.3
Of Orange County,California
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