HomeMy WebLinkAboutResolution 1971 - 0101-7RESOLUTION NO,71—101—7
A RESOLUTION OF THE BOARD OF DIRECTORS OF
COUNTY SANITATION DISTRICT NO,7,OF ORANGE
COUNTY,CALIFORNIA,AWARDING $1,000,000 BONDS
OF SAID DISTRICT TO TUE BEST BIDDER AND
REJECTING ALL OTHER BIDS
*********
WHEREAS,at the time and place fixed for the opening of
bids for the $1,000,000 bonds of County Sanitation District No.7,
of Orange County,designated Orange County Sanitation District
No,7 1970 Sewer Bonds,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 THEREFOR,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 UNITED CALIFORNIA BANK AND
ASSOCIATES offering par,accrued interest to date of delivery and
a premium of $155.00 for said bonds to bear interest payable
annually the first year and semiannually thereafter at the rates of:
Rates Years
6.00 %1973 through 1975
5,70 %1976
4,90 7~1977
5.00 ~1978
5.20 %1979
5.30 %1980
5.40 %1981
5.50 ~1982
5,60 ~1983
5.70 ~1984
5.80 %1985 through 1986
I
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 4 That 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 at an adjourned meeting held July 21,1911.
STATE OF CALIFORNIA)
)ss.
COUNTY OF ORANGE )
I,J.WAYNE SYLVESTER,Secretary of the Board of
Directors of County Sanitation District No.7 ,
Of
Orange County,California,do hereb::certify that the
above and.foregoing Resolution No.71-lOl--7was regularly
‘assed and adopted at an adjourned regular meeting of said
Board on the 21st day of July ,19 ~,by the
following vote,to wit:
Directors Clifton Miller (Chairman),
Lorin Griset,Ellis Porter,Howard
Rogers,Don Smith and Robert Battin
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 21st
of July ,1971
AYES:
NOES:.
ABSENT:
None
ci ay
ster,Secretary,
Board bf Di~éctors of County
Sanitation District No.7
,
of Orange County,California
S.-103