BOOK 17_1933-01-03 to 1938-12-29

Browse Search

432 as the "City of Redwood City Harbor Improvement Bonds of 193611 which author- ized issue aggregates in principal amount the sum of $266,000, consisting of 266 bonds of the denomination of $1000 each, all dated July 1, 1936. Bidders must specify the rate of interest which the bonds hereby offered for sale shall bear and said bonds will be awarded to the highest and best bidder, considering the rate sp'mified and the premium offered, if any. Bidders will be permitted to bid different rates of interest for different maturities of said bonds. The interest rate stated in the bid must be in a multiple of one-quarter of one per cent. per annum, payable semiannually, and the interest rate shall not exceed four (4) per cent. per annum, pay- able semiannually on January let and July let of each year. Said bonds hereby offered for sale consist of $50,000 principal amount of the bonds a of Series °B" of said authorized issue, numbered B-17 to B-66, both in- clusive, and mature as follows, to wit: $2,000 principal amount of said bonds mature and are i payable on July let in each of the years 1945 and 1946; $3,000 principal amount of said bonds mature and are payable on July let in each of the years 1947 to 1951, both inclusive; $6,000 principal amount of said bonds mature and are payable on July let in each of the years 1952 to 1955, both inclusive; and $7,000 principal amount of said bonds mature and are payable on July 1, 1956. With each bid must be submitted a certified check or Cashier's check in the sum of $1000, payable to the order of the Treasurer of the City of Redwood City, as guarantee that the bidder will purchase and pay for said bonds in the event his bid is accepted. Bids will be received for all or any of said $50,000 principal amount of said Series "B" Bonds at not less than their par value and accrued interest as specified. All bids must be unconditional, and, together with bidder's check must be enclosed in a sealed envelope endorsed "Proposal for City of Redwood City Harbor Improve- ment Bonds of 193611 and filed with the City Clerk at his office in said City prior to the time hereinabove fixed for opening said bids. The City Council of the City of Redwood City reserves the right to reject any and all bids. The legal opinion of Messrs. Orrick, Dahlquist, Neff & Herrington, of San Francisco, California, approving the validity of said bonds will be furnished to the successful bidder without charge. Said bonds were authorized at an election held on June 11, 1936, and - will be issued in accordance with Ordinance No. 379 of the City of Redwood City, reference to which is hereby made and to the proceedings now on file in the office of the City Clerk. The City of Redwood City was incorporated in 1867. The population (Census of 1930) was 8,962; the present conservative estimate is 13,000. The assessed valuation of all taxable property in said City for the year 1938-39 is $141593,120.00, and the total bonded indebtedness (not includ- ing this issue) is $6g41141.74. Further information relative to the financial condition of the City will be furnished to any bidder upon request. This notice is given pursuant to Resolution of the Council of the City of Redwood City, adopted August 23, 1939- B. E. MYERS City Clerk of the City of Redwood City, California. Section 3. That the said City Clerk be, and he is hereby authorized and directed to mail notice of the sale of said Series B Bonds to the State Treas- urer and to the Department of Finance of the State of California. Section 4. This resolution shall take effect immediately. J� LU