HomeMy WebLinkAboutRESOLUTIONS - 01011967 - 67-980 RESOLUTION NO.
RESOLUTION ,FIXING DATE OF BONDS AND DIRECTING PUBLICA-
TION OF OFFICIAL NOTICE INVITING BIDS FOR PURCHASE OF
BONDS, ASSESSMENT DISTRICT NO. 1966-6 , ECKL.EY LANE,
CONTRA COSTA COUNTY CALIFORNIA
WHEREAS, the period of collection of assessments
in Assessment District No. 1966-6 , Eckley Lane , Contra. Costa
County, California, has terminated; and
WHEREAS, it is necessary to fix the date of bands to
be issued and authorize sale of bonds which will be issued to re-
present unpaid assessments ,
NOW, THEREFORE, BE IT RESOLVED by the Board', of Supervisors
of the County of Centra Costa, California, that bonds issued in
said proceedings shall be dated the 2nd day of February, 1968 , and
shall bear interest from said date ; and
BE IT FURTHER RESOLVED that the County Clerk is hereby
authorized to publish Official Notice Inviting Bids for the pur-
chase of bonds , which Notice is attached hereto, marked "Exhibit
A" and made a part hereof, ,said bids to be received at the hour
of 11 :00 o' clock A.M. on the 16th day of January, 1968, in
in the office of the Board of Supervisors of the County of Contra Costa,
California., at which said time and place said proposals will be
publicly opened, examined and declared; and
BE IT FURTHER RESOLVED that said Notice shall be pub-
lished twice, once a week for two (2) successive weeks .'
67/9 M
I HEREBY CERTIFY that the foregoing Desolation was
duly and regularly adopted by the Board of Supervisors of the
County of Contra Costa , California , at a regular meeting thereof,
held on the 26th day of December, 1367 , by the following vote,
to wit :
AYES: Supervisors games P. Kenny* Alfred M. Dias, ji M(it---E. d"riarty,
NOES: Supervisors -nomas John Coll, Edmund A. Li.nscheid.
ABSENT: Supervisors
W. T. PAASCH, County Clem. ,
County of Contra Costa
California
BY
arbaramp _4
Deputy Clerk
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7"i
_. . _
OFFICIAL NOTICE TINIVITIN,G BIDS FOR THE PL'RC3;ASE OF
BONDS, ASSESS{ LINT DISTRICT NO. 1966-6 , ECKLEY LANE,
COUNTY Cr CONTRA COSTA, CALIFORNIA, UNDER THE PROVISIONS
OF THE MUNICIPAL I'MPROVEMENIT :QCT OF 1913 AND THE 1114-Pl:OVEME;NT
ACT OF 1911
NOTICE IS HEREBY GIVEN that sealed proposals will be
received by the , Board of Supervisors of the County of Contra Costa,
California , located at the Administration Building , ', Martinez ,
California, 9+553 , at the hour of 11 : 99 o 'clock. A..I. on the
16th day of January, 1968 , for the purchase of bonds of the County
of Contra Costa , designated as "Street Improvement Bonds , Series
No . 1966-6, Assessr:ent District No . 1966 . 6 , Eckley Lane , in the
'principal amount of $46 , 384 . 79 . Said bids will be publicly opened.,
examined and declared at said time and place .
These bonds are authorized to be issued, and the assess-
ments are authorized to be levied, under the provisions of Reso
lution of Intention No . 67j121 of the Hoard of Supervisors of the
County of Contra Costa, adopted on the 3rd day of October, 1967 ,
and proceedings subsequent thereto . The Resolution of Intention
provides with relation to said bonds as follows :
NOTICE IS HEREBY GIVEN that serial bonds shall be issued
in the manner and form provided in Part 5 , Division 7 ,
of the Streets and Highways Code of the State of Cali-
fornia (Improvement Act of 1911 ) to represent unpaid
assessments of Fifty Dollars ($50 . 0{0 or over, which
said bands shall bear interest at the rate of not more than.
cent (6%) per an:nu,r, the last installment , of which bonds
shal_1 mature fourteen (14) years from the 2nd day of
January next succeeding the next September lst follow-
ing their date . Said bands shall be payable to bearer
and may be redeemed as provided in the Improvement Act
of 1911 , and there shall be added to the redemption clause
in said bonds the following words :
" .together with a premium of five per , cent (5a) of
the unmatured principal . "
kMOUNT OF BONDS : Said bonds will be in the amount of `
$46 , 384 . 79 . The total amount of the bid will , therefore , be based
on the sun, of $46 , 384 . 79 -for the bonds .
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67- 980l
DATE OF BONDS AND INTEREST RATE: Bonds are to be dated
the 2nd day of February, 1968 , and will bear interest from, said
date . Interest rate is fixed in the Resolution of 'Intention at
not to exceed six per cent (6%) per annuri. � Such interest shall
be evidenced by coupons attached to each bond, and each of said
coupons shall represent six months ' interest on the bond to which
it is attached . The first coupon will be for interest from February 2 ,
1963, to July 2 , 1963.
PURPOSE OF ISSUE: Said bonds are authorized to be issued
by the Board of Supervisors of the County of Contra Costa , Cali-
fornia, by Resolution of Intention No. 67/721 and proceedings subse-
quent thereto . The purpose is for the constructionlPf
streets and appurtenances . The assessment district '
is designated as "Assessm.ent District No . 1966-6 , Eckley Lane ,
Contra Costa County, California, " and reference for details is
made to the proceedings for the formation and completion of said
assessment district .
PAYMENT: Both the principal and interest are payable
in lawful money of the United States of America at the office of
the County Treasurer, Financial Building , 'Martinez , California.
AUTHORITY FOR ISSUANCE: Said bonds were authorized to
be issued by the proceedings in said assessment district , and said
assessment district was organized and consummated under the provi-
sions of the !Municipal Improvement Act of 1913 and, bonds provided
to be issued under the Improvement .Act of 1911 of the State of
California .
CALLABLE BONDS: All bonds are subject to redemption
pursuant to the provisions of the Improvement Act of 1911 . Any
property owner may redeem any band at any time by paying the unpaid
principal , five per cent (5%) of the then unmatured principal as
premium, and interest to the next succeeding interest coupon date .
DENTM,IINAT IONS: The bands will vary in denominations
from $1 ,600 . 00 to $23 ,661 . 43. $tan showing the assessment district
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and the amount of assessrients against each parcel wi l 1. be fu.rT!is 1I; d.
upon request .
LEGAL OPINION: The legal opinion of the lacer firm of
Sturgis , Den-Dul.k, Douglass & Anderson, 1322 tebste'r Street, Oak-
Land, California , 94612 , approving the validity of said bonds will
be furnished to the successful bidder without charge .
SECURITY: Said bands are secured by real', property against
which each bond , is a lien, as provided by the Improvement Act of
1911 .
HIGHEST BID: Bonds will be awarded to the highest bid-
der considering the interest rate specified and the premium offered,
if any. The highest bid will be determined by deducting the amount
of the premium, if any, from the total amount of interest which
the County of Contra. Costa would be required to pay from the date
of the bands to their maturity date , at the coupon rate specified
in the bid, and the award will be made on the lowest net inter-
est on the bonds . All bids must provide for payment of accrued
interest from the elate of bonds to date of delivery. The cost
of printing the bands will be borne by the assessment district .
No bid of less than par will be considered.
RIGHT OF REJECTION: The County of Contra 'Costa reserves
the right at its discretion, to reject any and all bids and to
waive any irregularity or informality in. any bid. Any bid sub-
mitted must be in strict conformity with this Official Notice Invit-
ing Bids , and without any qualification .
PROMPT AWARD: The County of Contra Costa will take action
awarding; the bonds or rejecting all bids , not later than 48 hours
after the expiration of the time herein prescribed for the receipt
of proposals .
PROMPT DELIVERY: Delivery of the bonds will be made
to the successful bidder at the office of the County Treasurer ,
Financial Building , Martinez , California. , as soon as said bonds
can be prepared but not earlier than the Fate of said bonds .
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Sucessful. bidder, by making a bid, agrees to pay for and take deliv-
ery of the bonds within forty-eight- (48) hours after notification
by County of Contra Costa that bon's are ready for delivery, but
bidder is not obligated to take delivery earlier than the date
of the bonds .
FORM—OF, IIID: All bids must be for not less than. all
of the bonds herein offered for sale . Each bid, together with
bidder' s cheek, must be enclosed in a sealed envelope addressed
to the County Clerk , Administration Building , Martinez , California,
and endorsed "Proposal for Bonds , Assessment District INTo . 1966-6 ,
Eckley Lane , County of Contra Costa , California . "
BID CHECK: With each bid must be submitted a certified
check or cashier 's check for $500 .00 drawn on a bank or trust COM-
pany transacting business in the State of California', payable to
the order of the County of Contra Costa to secure the County of
Contra Costa from any lass resulting from. the failure of the bidder
to comply with the terms of his bid. Checks of the unsuccessful
bidders will be returned by the County of Contra Costa by mail
upon the award of the bands . Check of successful bidder will be
credited upon the purchase price of the bonds , but no interest
will be paid on the deposit of any successful bidder.
NO-LITIGATION CEIRTIEICATE. The County of Centra Costa
will furnish to the successful bidder, at the time of the deliv-
ery of the bonds a no- litigation certificate , certifying that there
is no controversy or litigation pending or threatened concerning
the validity of the bands .
Dated: December 26 , 1967 .
W. T. PAASCH, County Clerk
County of Centra Costa ,
California
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