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444
<br /> Bidder
<br /> Premium Rate
<br /> Weeden & Co ,
<br /> Blyth & Co . , Inc .
<br /> Anglo Calif . Nat . Bank
<br /> Lawson , Levy & Williams
<br /> Kaiser & Co .
<br /> Bank of America Company
<br /> 517
<br /> 500
<br /> 530
<br /> 102
<br /> 677
<br /> 521
<br /> 3•
<br /> 3?
<br /> 31
<br /> 3-
<br /> 3s
<br /> 32
<br /> While the best bidder was a quarter percent lower than the others , yet the rate
<br /> was higher than the Council had expected it to be . The bond house representa-
<br /> tives explained that this was due , in part , to proposed legislation and also ,
<br /> in part , to the uneven amounts and the later maturities . After considerable
<br /> discussion, it was finally decided best to accept the bid and , on motion of
<br /> Councilman McCarthy, seconded by Councilman Fletcher , there was adopted the
<br /> following resolution: Carried .
<br /> "SELLING $50 ,000 PRINCIPAL AMOUNT OF THE CITY OF REDWOOD CITY
<br /> HARBOR IMPROVEMENT BONDS OF 1936 , SERIES B
<br /> "WHEREAS , the Council of the City of Redwood City by ordinance duly passed
<br /> and adopted 20th day of July , 1936 , authorized the issuance of x266, 00 prin-
<br /> cipal amount of bonds of the City of Redwood City to be known as "City of Red-
<br /> wood City Harbor Improvement Bonds of 1936 , " divided into two series designated
<br /> respectively "Series A" and "Series B" ; said Series A aggregating 0200 , 000 in
<br /> principal amount , consisting of 200 bonds numbered Al to A200, inclusive , and
<br /> of the denomination of $1000 each , and maturing 5 bonds on July 1st in each of
<br /> the years 1937 to 1941 , 8 bonds on July 1st in each of the years 1942 to 1944 ,
<br /> 10 bonds on July 1st in each of the years 1945 to 1948 , 12 bonds on July 1st
<br /> in each of the years 1949 to 1951 and 15 bonds on July 1st in each of the years
<br /> 1952 to 1956 , all inclusive ; said Series B bonds aggregating '66, 000principal
<br /> amount , consisting of 66 bonds numbered Bl to B66 , inclusive , of the denomina-
<br /> tion of x'1000 each and maturing 2 bonds on July 1st in each of the years 1937
<br /> to 1946 , 3 bonds on July 1st in each of the years 1947 to 1951 , 6 bonds on
<br /> July 1st in each of the years 1952 to 1955 and 7 bonds on July 1 , 1956 , all
<br /> inclusive ; all of the bonds of said Series A and Series B being dated July 1 ,
<br /> 1936 , and to bear interest at a rate not in excess of four (4) per cent . per
<br /> annum , payable semiannually on January 1st and July 1st in each year; and
<br /> WHEREAS , said Council of the City of Redwood City by resolution duly passed
<br /> and adopted on the 23rd day of August , 1938 , duly authorized the sale of (50 ,000
<br /> principal amount of the Series B bonds of said issue , numbered B17 to B66 , both
<br /> inclusive; and
<br /> WHEREAS , due notice of the time and place of such sale was mailed by the
<br /> Clerk of the City of Redwood City to investment dealers , banks and other pros-
<br /> pective purchasers of said bonds and the following bids for said bonds were
<br /> and are the only bids received by said Council , to wit :
<br /> Name of Bidder :
<br /> Principal Premium Interest
<br /> Amount : Offered : rate spe-
<br /> cified :
<br /> Weeden & Co .
<br /> Blyth & Co . ,
<br /> Anglo Calif .
<br /> Lawson , Levy
<br /> Kaiser & Co .
<br /> Bank of America Company
<br /> Inc .
<br /> National Bank
<br /> & Williams
<br /> 517
<br /> 500
<br /> 530
<br /> 102
<br /> '677
<br /> 521
<br /> 3
<br /> 3~
<br /> 4
<br /> 3 -.
<br /> 3
<br /> 32
<br /> AND WHEREAS , the said bid of THE ANGLO CALIFORNIA NATIONAL BANK is the
<br /> highest and best bid for said bonds , considering the interest rate specified
<br /> and the premium offered , if any.
<br /> NOW, THEREFORE, BE IT RESOLVED, by the Council of the City of Redwood
<br /> City , as follows , to wit :
<br /> 1 . - Said bid of THE ANGLO CALIFORNIA NATIONAL BANK shall 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 THE ANGLO CALIFORNIA NATIONAL BANK upon pay-
<br /> ment to said City Treasurer of the said purchase price , to wit : Par , accrued
<br />
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