HomeMy WebLinkAboutResolution 1970 - 0113RESOLUTION NO.70-113-7
A RESOLUTION OF THE BOARD OF DIRECTORS OF
COUNTY SANITATION DISTRICT NO.7,OF ORANGE
COUNTY,CALIFORNIA,AWARDING $3,5000,000
BONDS OF SAID DISTRICT TO THE BEST BIDDER
AND REJECTING ALL OTHER BIDS
WEEREAS,at the time and place fixed for the opening of bids
for the $3,500,000 bonds of County Sanitation District No.7,of
Orange County,designated Orange County Sanitation District No.7
1970 Sewer Bonds,Series A,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.7 of Orange County,California,does hereby RESOLVES
DETERMINE AND ORDER as follows:
Section 1 That the bid of UNITED CALIFORNIA BANK AND
ASSOCIATES offering par,accrued interest to~date of delivery and
a premium of $k17.OO for said bonds to bear interest payable annually
the first year and semiannually thereafter at the rates of:
Rates Years
7.00 %1971 through 1977
6.50 ~1978
6.oo %1979 through 1980
6.10 ~1981
6.20 %1982
6.30 %1983
6.bo %198k
6.50 ~1985 through 1986
6.60 %1987 through 1988
6.70 %1989
.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 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.
Section Lj~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.
•
PASSED AND ADOPTED atan adjourned regular meeting held
July 28,1970.
STATE OF CALIFORNIA)
ss.
COUNTY OF ORANGE )
I,J.WAYNE SYLVESTER,Secretary of the Board of I
Directors of County Sanitation District No.7 ,of
~Orange County,California,do her~by certify that the
above and foregoing Resolution No.7o-113-7was regularly
passed and adopted at an adjourned regular meeting of said
Board on the 28th day of July ,1970 ,by the
following vote,to wit:
AYES:Directors Clifton C.Miller (Chairman),
Wade Herrin,Howard Rogers,Don E.Smith,
and Wm.Hirstein
NOES:None
ABSENT:Director Ellis N.Porter
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
~July ‘l9r~j
•
ay~1 ester,Secretary,
oard of Directors of County
Sanitation District No.7
of Orange County,California
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