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262
<br /> Principal Due Premium: Interest Rate
<br /> Name of Bidder Amount Dates Offered SAecified
<br /> R. H. Moulton & Company $ 350 , 000 $1 , 707. 00 24%
<br /> The First Boston Corporation ( $ 105 , 000 1938/40 21 . 00 31%
<br /> ( 245 , 000 1941/47 2%
<br /> American Trust Company ( 70 , 000 1938/ 39 52. 50
<br /> ( 2S0 ,000 1940/47 2%
<br /> Harris Trust & Savings Bank 350 , 000 1938/47 277. 00 21
<br /> John Nuveen & Company 350 , 000 193S/47 1 ,009 . 00 2-3/4%
<br /> AND AREAS , the said bid of said BROWN HARRIMAN & COMPANY is the highest
<br /> and best bid for said bonds , considering the interest rates specified and the pre-
<br /> mium offered ,
<br /> RESOLV &D , that all bids except the bid of said BROWN HARRIMAN & COMPANY
<br /> are hereby rejected and the City Clerk is hereby ordered and directed to return
<br /> to the unsuccessful bidders their several checks accompanying their respective bids .
<br /> RESOLVED , further , that the said bid of said BROWN HARRIMAN & COMPANY
<br /> to purchase $350 ,000 of said City of Redwood City General Improvement Fund Bonds
<br /> of 1937 , $70 , 000 thereof due 1935-39 , bearing interest at four (4) per cent per
<br /> annum , and $280 ,000 thereof due 1940-47 , bearing interest at two ( 2) per cent per
<br /> annum , said interest payable semi-annually on January 1st and July 1st in each year ,
<br /> at said price of par , accrued interest and a premium of $77. 00 be , and is hereby ,
<br /> accepted and the Treasurer of the City of Redwood City is hereby authorized and
<br /> directed to deliver said bonds to said BROWN HARRIMAN & COMPANY upon payment to
<br /> said City Treasurer of the said purchase price , to-wit : Par , accrued interest at
<br /> the rates above specified , to-wit : Four ( 4) per cent on $70 ,000 of said bonds due
<br /> 193g-39 and two ( 2) per cent on $280 ,000 of said bonds due 1940-47 , to the date of
<br /> delivery , and a premium of $77 . 00.
<br /> RESOLVED , farther , that said $350 , 000 principal amount of City of Redwood
<br /> City General Improvement Fund Bonds of 1937 shall bear interest at the following
<br /> rates : $70 , 000 thereof clue 1938-39 , bearing interest at four ( 4) per cent per
<br /> annum , and $280 , 000 thereof due 1940-47 , bearing interest at two (2 ) per cent per
<br /> annum, said interest payable semi-annually as aforesaid.
<br /> RESOLVED , further , that the City Clerk is directed to cause to be litho-
<br /> graphed , printed or engraved a sufficient number of blank bonds and coupons of
<br /> suitable quality , $70 ,000 of said bonds and coupons due 1938--39 to show on their
<br /> face that the same bear interest at four ( 4) per cent per annum, and $280 , 000 of
<br /> said bonds and coupons due 1940-47 to show on their face that the same bear in-
<br /> terest at two ( 2) per cent per annum , said interest payable semi-annually on
<br /> January 1st and July 1st in each year.
<br /> RESOLVED , farther, that this resolution shall take effect from and after
<br /> its passage and approval .
<br /> The City Clerk reported on bids for the $200 , 000 Harbor Bond Issue , as follows :
<br /> Principal Due Premium Interest Rate
<br /> Na e of Bidder Amount DM :: : Offered S . ; c ' fi ;d
<br /> Brown Harriman & Company $200 , 000 $ 52. 00 2z�
<br /> Bankamerica Company ( $ 41 , 000 1937/43 299 .00 4%
<br /> ( 159 , 000 1943/ 56 2{;�
<br /> The First Boston Corporation $200 , 000 111 . 00 2-3/4%
<br /> John Nuveen & Company ( $ 89 ,000 1937/48 111 . 00 2-3/4%
<br /> ( 111 , 000 1949/55 3%
<br /> Harris Trust & Savings Bank ( $1 , 1937/52 197. 00 2-3/4%
<br /> 6o , 000 000 953/56 2�1%
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