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470
<br /> were and are the only bids received by said
<br /> -„__Name of Bidder
<br /> Principal
<br /> Amount :
<br /> Anglo California National Bank 97 , 000
<br /> Dean Witter & Co. )
<br /> Donnell an & Co . ) 30 , 000
<br /> Eastland & Co . ) 67 ,000
<br /> Blyth & Co.
<br /> Heller Bruce & Co.
<br /> Kaiser & Co .
<br /> E . H. Rollins & Sons
<br /> Weeden & Co . )
<br /> Mason Brothers )
<br /> Bankamerica Company )
<br /> American Trust Co. )
<br /> )
<br /> )
<br /> 97 ,000 .
<br /> 20 ,000
<br /> 77 ,000
<br /> 97 , 000
<br /> 20 ,000
<br /> 77 ,000
<br /> Council , to wit :
<br /> Premium Interest Rate
<br /> Offered: Specified:
<br /> 339 • 50
<br /> 252. 00
<br /> 259 . 00
<br /> 21. 00
<br /> 1017. 00
<br /> 152. 00
<br /> 2-3/ 4
<br /> 5%
<br /> 3%
<br /> 2-3/4
<br /> 5%
<br /> 2-3/4
<br /> 2-3/4
<br /> 5%
<br /> 2-1/2
<br /> AND WHEREAS , the said bid of Bankamerica Company and American Trust
<br /> Co. is the highest and best bid for said bonds , considering the interest
<br /> rate specified and the premium offered , if any.
<br /> NOW , THEREFORE, BE IT RESOLVED , by the Council of the City of
<br /> Redwood City , as follows , to wit :
<br /> 1 . - Said bid of Bankamerica Company and American Trust Co . shall
<br /> be , and is hereby , accepted and the Treasurer of the City of Redwood
<br /> City is hereby authorized and directed to deliver said bonds to Bankamerica
<br /> Company and American Trust Company upon payment to said City Treasurer of
<br /> the said purchase price , to wit : Par , accrued interest at the rate of
<br /> Five Percent ( 5%), and Two and One-Half Percent ( 2-1/2%) per annum, to date
<br /> of delivery , and a premium of $152. 00 .
<br /> 2. - That all bids except the bid of Bankamerica Company and American
<br /> Trust Co . are hereby rejected and the City Clerk is hereby ordered and
<br /> directed to return to the unsuccessful bidders their several checks
<br /> accompanying their respective bids,
<br /> 3. - That said $97 ,000 principal amount of Municipal Improvement Bonds
<br /> of 1938 shall bear interest , payable semi -annually on May 1st and November 1st
<br /> in each year , at the following rate ( s ) :
<br /> Bonds numbered 1 to 20 , both inclusive , shall bear interest at the rate
<br /> of Five Percent ( 5%) per annum, payable semi-annually as aforesaid;
<br /> Bonds numbered 21 to 97 , both inclusive , shall bear interest at the
<br /> rate of Two and One-Half Percent ( 2 -1/2%) per annum, payable semi-annually
<br /> as aforesaid;
<br /> And the City Clerk is directed to cause to be lithographed , printed
<br /> or engraved a sufficient number of blank bonds and coupons of suitable
<br /> quality , said bonds and coupons to show on their face that the same bear
<br /> interest at the rate( s ) aforesaid.
<br /> RESOLVED , FURTHER, that this resolution shall take effect from and
<br /> after its passage and approval ,
<br /> ADOPTED AND PASSED by vote of Five members of the Council of the City
<br /> of Redwood City, this 4th day of November , 1938 , by the following vote :
<br /> Attest :
<br /> Ayes: Wm. Hohn, R. N . Jones , P . A. McCarthy ,
<br /> G . W. McNulty , L. C . Christensen
<br /> Noes : None .
<br /> Absent : H. F. Anderson , E . A. Fletcher
<br /> B. E. Myers
<br /> City Clerk
<br /> L. C . Christensen
<br /> Mayor of the City of Redwood City ,
<br /> California.
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