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<br />WHEREAS, said City Clerk of the City of Redwood City has duly
<br />mailed notices of the postponement of said sale .of said bonds to invest-)
<br />ment dealers, banks and other prospective purchasers, which notice described
<br />the bonds to be sold and designated the time and place to which such sale
<br />was so postponed; and
<br />�j WHEREAS, it appears that due and adequate noticeofthe sale of
<br />bonds of Series A has been given to all prospective purchasers,
<br />1 �
<br />NOW, THEREFORE, BE IT..RESOLVED by the Council of the City of
<br />Redwood City, as follows:
<br />1. That the action of the City Clerk inmailing notice of time
<br />and place to whichthe saleof said bonds was duty postponed, and the form
<br />of such notice of postponement of sale, be and the same are hereby ratified,
<br />confirmed and approved.,
<br />The Ctty Clerk reported on bids for the $350,000 Reflr:anv, ",as follows:
<br />Principal Due Premium Interest. .Rate
<br />Name of Bidder Amount Dates Offered Specified
<br />Brown Harriman & Company ($ 70,000 19,9/9 $ 77.00 4%
<br />( 280,000 19`+0/ 7 2%
<br />R. H. Moulton & Company 350,000 19707.00 2j%
<br />The First Boston Corporation ( 105,000 19 g/40 21.00 31�
<br />( 245,000 191/47 2,
<br />American Trust Company ( 70,000 1939/39 52.50 4%'
<br />( 280,000 1940/x+7 24
<br />Harris Trust & Savings Bank 350,000 1938/47 277.00 26
<br />John Nuveen & Company 350,000 1938/47 1,009.00, 2-3/Y%
<br />Councilman Jones, seconded by Councilman McNulty, proposed the adoption of the following resolu-
<br />tion Selling $350,000 Principal Amount of City of Redwood City General Improvement Fund
<br />Bonds of 1937 to Brown Harriman & Company, Inc., the best bidders among bids received
<br />1051
<br />January 11, at 3 o'clock p -m. Carried.
<br />RESOLUTION SELLING $350,000 PRINCIPAL AMOUNT OF CITY OF REDWOOD
<br />CITY GENERAL IMPROVEMENT FUND BONDS OF 1937
<br />WHEREAS, the Council of the City of Redwood City by Ordinance duly passed.
<br />and adopted on the 21st day of December, 1936, authorized the issuance of $350,000
<br />principal amount of bonds of the City of Redwood City to be known as "City of Red
<br />wood City General Improvement. Fund Bonds of 1937,11 consisting of 350 bonds of the
<br />denomination of $1,000 each, numbered'1 to 350, inclusive, and maturing in consecu-
<br />tive numerical order $35,000 principal amount on January let in each of the years
<br />1939 to 1947, both inclusive, and to bear interest at a rate not to exceed four (4)
<br />per cent per annum, payable semi-annually; and
<br />RHEREASj said Council of the City of Redwood City by resolution duly
<br />passed and adopted on the 4th day of January, 1937, duly authorized the sale of
<br />said General Improvement Fund Bonds of 1937 at public sale to the highest and best
<br />bidder therefor; and
<br />WHEREAS, due notice of the time and place of such sale was mailed by the
<br />Clerk of the City of Redwood City to investment dealers, banks and other prospective
<br />purchasers of said bonds, and the following bids for said bonds were and are the
<br />only bids received by said Council, to -wit:
<br />Principal Due Premium Interest Rate
<br />Name of Bidder Amount Dates Offered Specified
<br />Brown Harriman & Company ($ 70,000 19 g/ 9 $ 77.00 4%
<br />( 2go,o0o 1M 7 2%
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