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0 <br />MINUTES OF ADJOURNED REGULAR MEETING <br />REDWOOD CITY COUNCIL <br />NOvEmBER 4, 1939 <br />7:30 P. M. <br />Upon roll call the following were present: Councilman Wm. Hohn, R. N. Jones, <br />P. A. McCarthy, G. W. McNulty, Mayor L. C. Christensen, and City Clerk <br />B. E. Myers. Absent, Councilman H. F. Anderson and E..A. Fletcher. <br />The meeting was called especially for the receiving of bids -for the sale of $97,000 <br />Municipal Improvement Bonds for the construction of the City -Hall and Library, <br />and after filing affidavit of mailing notices to Department of Finance and <br />State Treasurer and certain bond houses, the following bids were opened with <br />I We <br />the results indicated: <br />31 <br />Principal <br />Premium <br />Interest Rate <br />Name of Bidder <br />Amount: <br />Offered: <br />Snecified: <br />Anglo California National Bank <br />$97,000 <br />339•: <br />2-3/4 <br />Dean Witter & Co. ) <br />Donnellan & Co. ) <br />30,000 <br />252.00 <br />5% <br />Eastland & Co. ) <br />67,000 <br />3% <br />Blyth & Co. ) <br />Heller Bruce & Co. ) <br />979000 <br />259.00 <br />2-3/4 <br />Kaiser & Co. ) <br />20,000 <br />X. H. Rollins & Sons ) <br />779000 <br />21.00 <br />2-3/4 <br />I <br />Weeden & Co. ) <br />• <br />Mason Brothers ) <br />979000 <br />1017.00 <br />2-3/4 <br />Bankamerica Company ) <br />20,000 <br />5% <br />American Trust Co. ) <br />77;000 <br />152.00 <br />2-1/2 <br />Following the calculation of the interest charge for the bids of the Bankamerica Co. <br />and Weeden and Co., it was decided to sell the bonds to the former. Therefore, <br />Councilman McCarthy, seconded by Councilman Jones, proposed the adoption of the <br />following resolution: <br />11RESOLUTION NO. <br />SELLING $97,000 PRINCIPAL AMOUNT OF THE CITY OF REDWOOD CITY MUNICIPAL <br />IMPROVEMENT BONDS OF 1939 <br />a <br />WHEREAS, the Council of the City of Redwood City by ordinance duly <br />passed and adopted on the 17th day of October, 1939, authorized the issuance <br />of $97,000 principal amount of bonds of the City of Redwood City to be known <br />as IlMunicipal Improvement Bonds of 193911, consisting of 97 bonds, numbered <br />1 to 97, inclusive, of the denomination of $1000 each, all dated November 1, <br />1939, and maturing in consecutive numerical order $5,000 principal amount on <br />November 1st in each year from 1939 to 1956, both inclusive, and $7,000 <br />principal amount on November 1, 1957, and to bear interest at a rate not to <br />exceed five (5) per cent. per annum, payable semi-annually on May 1st and <br />November 1st in each year; and <br />WHEREAS, said Council of the City of Redwood City by resolution duly <br />I'! passed and adopted on the 2nd day of November, 1939, duly authorized the sale <br />III of said $97,000 principal amount of Municipal Improvement Bonds of 1939; <br />and <br />WHEREAS, due notice of the time and place of such sale was mailed by <br />the Clerk of the City of Redwood City to investment dealers, banks and other <br />prospective purchasers of said bonds and the following bids for said bonds <br />