RES 2312 - Laserfiche WebLink

RESOLUTION NO. 2312 S~.T.TNG TOWN OF PLEASA~TON 1~ ~WPROV~T BONDS WN~FAS, the City Council of the To~n of Pleasanton heretofore duly authorized the issuance of $115,000 principal amount of bonds of the Town of ?leasanton, to be known as "Town of Pleasanton 1953 Improvement Bonds", all dated July 15, 1953, and further duly authorized the sale of said bonds at public sale to the highest and Best bidder therefor; and WHEREAS, notice of the sale of said bonds has been duly given in the manner prescribed by said resolution and the following bids for said bonds were and are the only bids received by said Council, to wit: Name of Bidder Net Interest Cost to City Average Interest ~ost to City Dean Witter & Co. $ 58,287.50 3.&32 % American Trust Co 59,OO7.50 3.~75 % Kaiser & 0o. 62,522.00 3.682 % Bank of America National TruaX& Savings Association 56,871.OO 3.3~93 % Heller Bruce & Co. and J. Barth & Co. 58,778.00 3.~616 % AND WH~YWAS, the said bid of BANK OF ANE~ICA NATIONAL TRUST A~D SAVINGS ASSOCIATION is the highast and best bid for said bonds, considering the interest rate (s) specified and the premium offered, NOW, T~RE, BE iT RESOLVED by the City Council of the Town of Pleasanton as follows, to wit: 1. Said bid of BA~K OF AMERICA NATIONAL TRUST & SAVINGS ASSOCIATION for $115,000 par value of said bonds shall be, and is hereby accepted an~ the Treasurer of the Town of Pleasanton is hereby authorized and directed to deliver said bonds to said purchaser thereof upon payment to said Treasurer of the pur- chase price, to wit: said par value thereof and a pr~um of $~.00, together with accrued interest at the following rate (s): Bond N,~bers (inclusive) Inter~st Rate Per Annum !tom to % 85 to 115 34% Said bonds shall bear interest at the said rate (s) hereinabove set forth, pay- able semi-a~nally on July 15th and January 15th. 2. That all bads except the bid of BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION are hereby rejected and the City Clerk is hereby ordered and directed to return to the unsuccessful bidders their several checks accompanying their respective bids.