HomeMy WebLinkAboutResolution 1962 - 0038RESOLUTION NO.62-38-7
A RESOLUTION OF THE BOARD OF DIREC’IORS OF COUNTY
SANITATION DISTRICT NO.7 OF ORANGE COUNTY,
CALIFORNIA,AWARDING $3,700,000 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 $3,700,000 bonds of County Sanitation DIstrict No.7 of
Orange County,designated Election 1962 General Obligation Bonds,
all bids were publicly opened,examined and read,arid 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.7 of Orange County,California,does hereby RESOLVE,
DETERMINE AND ORDER as follows:
Section 1.That the bid of SECURITY FIRST NATIONAL BANK AND
ASSOCIATES offering par,accrued interest to date of delivery and
a premium of $11.00 for said bonds to bear interest payable annually
the first year and semiannually thereafter at the rates of:
Rates Years
4-3/4 ~1964 tc 1972
3-114 ~1973 to 1978
3-1/2 ~1979 to 1987
3.60 ~1988 to 1992
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 all bids other than the one accepted in
Section 1 hereof are rejected and the Secretary of the d1stri~t i~
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.
Section 4.The County Preasurer 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.
STATE OF CALIFORNIA)
SS.
COUNTY OF ORANGE )
I,FRED A.HARPER,Secretary of the Board of Directors of
County Sanitation District No.7 of Orange County,California,do
hereby certify that the above and foregoing Resolution No.62-38-7
was regularly passed and adopted at an adjourned regular meeting of
said Board on the 28th day of March,1962,by the following roll
call vote,to wit:
AYES:Directors Jerome IUdd,Dee Cook,A.Allen Hall,
A.H.Meyers,Rex A.Parks arid C.M.Featherly
NOES:Directors None
ABSENT:Directors None
IN WITNESS WHEREOF,I have hereunto set my hand and affixed
the official seal of County Sanitation District No.7 of Orange
County,California this 28th day of March,1962.
~red A.Harper,Secretary oq the
Board of Directors of County Sanitation
District No.7 of Orange County,
California
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