HomeMy WebLinkAboutResolutions - No. 2868CERT1FJED COPY
CITY OF LODI
RESOLUTION NO. 211163
RESOLUTION SELLING $5,500,000 PRINCIPAL AMOUNT
OF GTTY OF LODI 1965 MUNICIPAL IMPROVEMENT
BONDS, SERIES A, AND FIXING THE DEFINITIVE
RATES OF INTEREST THEREON.
WHEREAS, the City Council of the City of Lodi
has duly authorized the issuance of $5,500,000 principal amount
of bonds designated "City of Lodi 1965 Municipal Improvement
Bonds, series A" (herein called the "bonds") and further duly
authorized the sale of the bonds at public sale to the highest
bidder therefor; and
WHEREAS, notice of the sale of the bonds has been
duly given and the following bids for the bonds were and are
the only bids received, to wit:
Name of Bidder Net Interest Cost
tibia Beit[ of Califtwola Mr. A. #3.1491,222.50
droit ot boorlam J$. i S. A. $3,929451.00
i— Pirst Natives' Babb of CbSoftgo $3•550•605.00
Unliw tTarnsm brat 4114513.39740
Fawn & Nereissate Bank of Contra Calf. 32309618040
Marotta Imo $3.481.3934D
and
WHEREAS, the bid of Clapotta lac
is the highest bid for the bonds, considering the interest rates
specified and the premium, if any, offered, NOW, THEREFORE,
BE IT RESOLVED by the City Council of the City of
Lodi as follows:
1. Said bid of Cwt Lc
for the bonds is hereby accepted and the Treesurer is hereby
authorized and directed to deliver the bonds to said purchaser
thereof upon payment to the Treasurer of the purchase price,
to wit: The par value thereof and a premium of $1.713.50
together with accrued interest at the following rates:
Bond ?lumbers
(Inclusive)
(All Eearing Prefix "A")
Maturity Years Interest Rate
(Inclusive) Per Annum
1 to 221 1966 to 1974 4.3) %
222 to 376 197 to 1979 3.30
377 to 562 190) to 19P+ 3.4o
563 to 1100 1965 to 1995 3.5D
to to
}n tD
The bonds shall bear interest at the rates hereinabove set forth,
payable semiannually on April 1 and October 1 in each year,
except Interest for the first year which is payable annually on
October 1, 1966.
2. All bids except said accepted bid are hereby re—
jected and the City Clerk is hereby directed to return to the
unsuccessful bidders their several checks accompanying their
respective bids.
2
3. The City Clerk is directed to cause to be litho—
graphed, printed or engraved a sufficient number of blank bonds
and coupons of suitable quality, said bonds and coupons to show
on their face that the same bear interest at the rates afore—
said.
4. This resolution shall take effect from and after
its passage and approval.
PASSED AND ADOPTED this 6th day of October, 1965, by
the following vote:
AYES: Ceunc£lmen3MCW, C +t:omprt W4TOK oad
NOES:
ABSENT:
Attest:
Nose
54430
(si) Boatrtof Garibaldi
City Clerk
APPRWVED:
(ag) Jeru..d Sirst.►
i,layor of she City of Lodi,
California
CITY CLERK'S CERTIFICATE
I, BEATRICE GARIBALDI, City Clerk of the City of
Lodi, California, do hereby certify that the foregoing
resolution is a full, true and correct copy of a resolution
introduced and read at a regular meeting of the City
Council of the City of Lodi duly and regularly and legally
held on the 6th day of October, 1965; and said resolution was
thereafter duly passed and adopted by a majority of all of the
members of said City Council. as follows:
MOWAYES: Councilmen
• �:ost ii.i1X and ial-T1Gif
NOES: ?��
ABSENT:
That I have carefully compared the same with the
original minutes of said meeting on file and of record in ny
office, that said resolution is duly entered of record in the
minutes, that said resolution is a full, true and correct copy
of the original resolution adopted at said meeting and entered
in said minutes, that said resolution has not been amended,
modified or rescinded since the date of its adoption and that
the same is now in full force and effect.
WITNESS my hand and the seal of the City of Lodi
this 6th day of October, 1965.
[SEAL]
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