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HomeMy WebLinkAboutReso - CC - 042-1968WJML:SSD:Um.. 6/11/68 15c RESOLUTION NO. 42-68 A RESOLUTION AWARDING SALE OF BONDS CITY OF BURLINGAME MUNICIPAL IMPROVEMENT BONDS OF 1968 FIRST DIVISION - $850,000 RESOLVED, by the City Council of the City of Burlingame, California, that WHEREAS, this Council, in response to notice duly given as heretofore ordered by Resolution No. 40-68, A Resolution Calling for Bids on $850,000 First Division of City of Burlingame Municipal Improvement Bonds of 1968, adopted on June 3, 1968, has called for bids for the sale of said bonds heretofore ordered issued; and WHEREAS, this is the time and place fixed therein for this Council to consider bids for the purchase of said bonds, said bids having been received and publicly opened, examined and de- clared in the office of the City Clerk of the City of Burlingame pursuant to the terms of the Official Notice of Sale. NOW, THEREFORE, IT IS ORDERED, as follows: 1. That all written bids received for the purchase of said bonds, excepting the bid herein stated, be, and they are hereby, rejected, and that said bonds be, and they are hereby, ordered Sold to Bank of America N.T. & S.A., and Associates. as the highest responsible bidder therefor, with interest to the date of delivery of said bonds, said sale to be subject to all of the terms and conditions set forth in the Official Notice of Sale. 2. That the City Clerk of said City be, and he is hereby, directed to have said bonds printed forthwith, and that the same be immediately signed, sealed and delivered to said bidder on receipt of the amount therefor as above stated, with interest, but not otherwise, and upon the performance of the conditions contained in said written offer. 3. That the interest rate of said bonds be, and the same is hereby, fixed at the rate stated in said bid. I hereby certify that the foregoing is a full, true and correct copy of a resolution duly and regularly passed and adopted by the City Council of the City of Burlingame, California, at a meeting thereof held on the 17th day of June , 1968, by the following vote: AYES, and in favor thereof, Councilmen: Crosby-Diederichsen-George-Johnson-Martin. NOES, Councilmen: None ABSENT, Councilmen: None APPROVED: May/ City Clerk 2.