HomeMy WebLinkAboutRESOLUTIONS - 01011968 - 1968-283 IN THE BOARD OF SUPERVISORS
OF
CONTRA COSTA COUNTY, STATE OF CALIFORNIA
In the Matter of Sale of 1964 )
Orinda Union School District ) RESOLUTION NUMBER 68/283
Bonds, Series C, $7009000. )
)
)
WHEREAS the Board of Supervisors of Contra Costa County,
State of California, heretofore duly authorized the issuance of
$_11100,000 principal amount of bonds of
Orinda Union School District
of Contra Costa County; and further duly authorized the sale of
$7000000 designated Series C of
said bonds at public sale to the best and highest bidder therefor;
and
WHEREAS notice of the sale of said bonds has been duly
given in the manner prescribed by this Board of Supervisors, and
the following bids for said bonds were and are the only bids
received by said Board of Supervisors, to wit :
Net Interest Cost
Name of Bidder to District
Bank of America $388,858
Cracker-Citizens National Bank 389,9 0
Wells Fargo Bank 389,984
United California Bank 393 ,747
Blyth & Co. , Inc. 395 ,630
R. H. Moulton & Company 403 ,460
68 /283
AND, WHEREAS the said bid of Bank of America N.T. & S.A.
is the highest and best bid for said bands, considering the interest
rates specified and the premium offered, if any,
NOW, THEREFORE, BE ZT RESOLVED by the Board of Supervisors
of the County of Contra Costa, State of California, as follows:
1. Said bid of Bank of America N.T. & S.A. for $700,000
par value of said bonds shall be, and is hereby accepted and the
Treasurer of Contra Costa County is hereby authorized and directed
to deliver said bonds to said purchaser thereof upon payment to
said Treasurer of the purchase .price, to wit:
Par and accrued interest to date of delivery,
plus a premium of $ 777
Interest Rate
Band .Numbers per Annum
C-1 thru C-47 @ 5%
C-4$ thru C-54 @ 4.40%
C-55 thru C-92 @ 4»50%
0-93 thru C-140 @ 4:60%
Said bands shell be in the denomination of $ 5,000 each
in accordance with the Official. Notice of Sale, and bonds shall bear
interest at the said rates hereinabove set forth, payable semi-
annually on November 15 and May 15 in each year,
except interest for the first year which is payable in one installment
on May 15, 1969.
2. All other bids are rejected and the Clerk of this Board
is directed to return the bid checks which accompanied the
unsuccessful bids, 68 /283
3• The Clerk of this Beard of Supervisors is directed
to cause to be lithographed, printed or engraved a sufficient
number of blank bands and coupons of suitable quality, said bands
and coupons to show on their face that the same bear interest at
the rates aforesaid.
PASSED AND ADOPTED this 30th day of April ,
196 80 by the Board of Supervisors of Contra Costa County, by the
following vote :
AYES . Supervisors James P. Kenny, James E. Moriarty,
Thomas John Coll, Edmund A. Linscheid,
Alfred M. Dies .
NOES: None
ABSENT : None
RESOLUTION NUMBER 68/283