|
262
<br />AND AHEREAS, the said bid of said BROWN HARRIMAN & COMPANY is the highest
<br />and beet bid for said bonds, considering the interest rates specified and the pre-
<br />mium offered,
<br />RESOLVED, 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 19371 $70,000 thereof.due.1939-39, bearing interest at four (4) per cent per
<br />annum, and $260,000 thereof due 1940-47, bearing interest at two (2) per cent per
<br />annum, said interest payable semi-annually on January let and July let in each year,
<br />at said price of par, accrued.interest and a premium. of $77.00 be, and is hereby,
<br />acceptod 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 rice; to-rit: Par, accrued interest at
<br />the rates above specified, to -wit:. Your (4) per cent on $70,000 of said bonds due
<br />1936-39 and two (2) per cent on $260,000 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 due -1936-39, bearing interest at four (4) per cent per
<br />annum, and $290,000 thereof due 19c0-47, 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 1936-39 to show on their
<br />face that the same bear -interest at four (4) per cent per annum, and.$290,000 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 lot and July lot in each year.
<br />RESOLVED, farther,that .this resolution shall take effect from and after
<br />its passage and approval. a
<br />The City Clerk reported on bids for the $200,000 Harbor Bond Issue, as follows:
<br />Principal Due Premium Interest Rate
<br />Name of Bidder Amount Dates Offered Snecified
<br />Brown Harriman & Company $200,000 $ 52.00 2z%
<br />Bankamerica Company ($ 41,000 1937/43 299.00 4%
<br />( 1591000 19+3/56 212%
<br />The First Boston Corporation $2009000 111.00 2-3/4%
<br />John Nuveen & Company ($ g9,000 W7/4g 111.00 2-3/4,%
<br />( lll,000 1949/55 3%
<br />Harris Trust & Savings Bank ($140,000 1937/52 197.00 2-3/4%
<br />( 60,000 1953/56 20
<br />M
<br />:J
<br />Principal
<br />Due
<br />-Premium:
<br />Interest Rate
<br />Name of Bidder
<br />Amount
<br />Dates
<br />Offered
<br />Specified
<br />R. H. Moulton & Company
<br />$ 350,000
<br />$1,707.00
<br />241%
<br />The First Boston Corporation
<br />($ 105,000
<br />1938/40
<br />21.00
<br />33
<br />( 245,000
<br />1941/47
<br />2
<br />American Trust Company
<br />( 70,000
<br />19 6/39
<br />52.50
<br />4%
<br />( 260,000
<br />19/47
<br />2%
<br />Harris Trust & Savings Bank
<br />3501000
<br />1936/47
<br />277.00
<br />20
<br />John Nuveen & Company
<br />350,000
<br />1936/47
<br />1,009000
<br />2-3/4%
<br />AND AHEREAS, the said bid of said BROWN HARRIMAN & COMPANY is the highest
<br />and beet bid for said bonds, considering the interest rates specified and the pre-
<br />mium offered,
<br />RESOLVED, 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 19371 $70,000 thereof.due.1939-39, bearing interest at four (4) per cent per
<br />annum, and $260,000 thereof due 1940-47, bearing interest at two (2) per cent per
<br />annum, said interest payable semi-annually on January let and July let in each year,
<br />at said price of par, accrued.interest and a premium. of $77.00 be, and is hereby,
<br />acceptod 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 rice; to-rit: Par, accrued interest at
<br />the rates above specified, to -wit:. Your (4) per cent on $70,000 of said bonds due
<br />1936-39 and two (2) per cent on $260,000 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 due -1936-39, bearing interest at four (4) per cent per
<br />annum, and $290,000 thereof due 19c0-47, 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 1936-39 to show on their
<br />face that the same bear -interest at four (4) per cent per annum, and.$290,000 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 lot and July lot in each year.
<br />RESOLVED, farther,that .this resolution shall take effect from and after
<br />its passage and approval. a
<br />The City Clerk reported on bids for the $200,000 Harbor Bond Issue, as follows:
<br />Principal Due Premium Interest Rate
<br />Name of Bidder Amount Dates Offered Snecified
<br />Brown Harriman & Company $200,000 $ 52.00 2z%
<br />Bankamerica Company ($ 41,000 1937/43 299.00 4%
<br />( 1591000 19+3/56 212%
<br />The First Boston Corporation $2009000 111.00 2-3/4%
<br />John Nuveen & Company ($ g9,000 W7/4g 111.00 2-3/4,%
<br />( lll,000 1949/55 3%
<br />Harris Trust & Savings Bank ($140,000 1937/52 197.00 2-3/4%
<br />( 60,000 1953/56 20
<br />M
<br />:J
<br />
|