Reso 1951-13Res. t3
RESOLUTION NO.
RESOLUTION OF THE.GaVERNING BOARD OF COSTA SSA SANITARY
DISTRICT AWARDING BONDS OF SAID DISTRICT TO THE BEST BIDDER.
WHEREAS., At the time and place fixed for the opening of bids for $850,000-00
bonds of the district
all bids were publicly opened., examined and ead., and a
tabi:Ll'zition- thereof has. been entered in the minutes; and
WHEREAS, the bid of the bidder hereinafter named is the highest and best bid
lade by a responsible bidder for said bonds.;
N,011, THEREFORE., the Governing Board of Costa Mesa Sanitary. District DOES.
MEDY TRESEOLVE3 DETEIRMIME ANM ORMER as follows:
Section 1. That the bid of Bank of America, National Trust and Savings
2Association and Associates., offering par., accrued Bonds., to b ear interest at the
rate of 3% ver annum, payable semi-annually., on Bonds maturing March 12 1952 to
,Marc +.: per aruium., payable semiannually,
1965, inclusive, and at the rate of 2-3/4'
on Bonds maturing March 1., 1966 to March 1, 1973, on Bonds maturing Miarch 1., 1974
to March 1., 1981.1 inclusive, is the highest and best bid for said Bonds.- Said
y id is hereby accepted and the Bonds awarded to said bidder in accordance with
t t
he terms of its proposal.
Section 2. That all bids., other than the one accepted in Section I hereof.,,
are rejected and the Secretary is directed to 'return the checks accompanying said
rejected bids to the respective bidders.
Section 3. That the interest rates on said bonds be fixed at the rates stated
in Section 1 hereof.
Section 4. The County Treasurer is hereby directed to deliver said bonds to
'the successful bidder upon the payment of par, accrued interest to date of delivery
and the premium above stated,
PASSED AND ADOPTED by the Governing Board of Costa Mesa Sanitary District
on march.l. 1951$.at a regular meeting of said hoard by the following vote:
AYES: TeWinkl.e, Nelson, Lord, Norman and Meyers.
NOES.: None
ABSENT: Done
TeWinkle
'resident of -the Governing Boar of
Costa Mesa Sanitary District,
ATTEST;
F. B. O T&I
Secretary of said k3'� oard..