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<br />were and are the only bids received by said Council, to wit:
<br />A'"M WHEREAS, the said bid of Bankamerica Company and American Trust
<br />Co. is the highest and best bid for said bonds, considering the interest
<br />rate specified and the premium offered, if any.
<br />NOW, THEREFORE, BE IT RESOLVED, by the Council of the City of
<br />Redwood City, as Follows, to wit:
<br />1. - Said bid of Bankamerica Company and American Trust Co. shall
<br />be, and is hereby, accepted and the Treasurer of the City of Redwood
<br />City is hereby authorized and directed to deliver said bonds to Bankamerica
<br />Company and American Trust Company upon payment to said City Treasurer of
<br />the said purchase price, to wit: Par, accrued interest at the rate of
<br />Five Percent (5%).and Two and One -Half Percent (2-1/2%) per annum, to date
<br />of delivery, and a premium of $152.00.
<br />2. - That all bids except the bid of Bankamerica Company and American
<br />Trust Co. are hereby rejected and the City Clerk is hereby ordered and
<br />directed to return to the unsuccessful bidders 'their several checks
<br />accompanying their respective bids.
<br />3. - That said $97,000 principal amount of Municipal Improvement Bonds
<br />of 1938 shall bear interest, payable semi-annually on May 1st and November let
<br />in each year, at the following rate(s):
<br />Bonds numbered 1 to 20, both inclusive, shall bear interest at the rate
<br />of Five Percent (0) per annum, payable semi-annually as aforesaid;
<br />Bonds numbered 21 to 97, both inclusive, shall bear interest at the
<br />rate of Two and One -Half Percent (2-1/2%) per annum, payable semi-annually
<br />as aforesaid;
<br />And the City Clerk is directed to cause to be lithographed, printed
<br />or engraved �t sufficient number of blank bonds and coupons of suitable
<br />quality, said bonds and coupons to show on their face that the same bear
<br />interest at the rate(s) aforesaid.
<br />RESOLVED, FURTHER-, that this resolution shall take effect from and
<br />after its passage and approval.
<br />.ADOPTED AND PASSED by vote of Five members of the Council of the City
<br />of Redwood City, this 4th day of November, 1938, by the following vote:
<br />(SEAL)
<br />Attest:
<br />Ayes: Wm. Hohn, R. N. Jones, P. A. McCarthy,
<br />G. W. McNulty, L. C. Christensen
<br />Noes: None.
<br />Absent: H. F. Anderson, E. A. Fletcher
<br />B. E. Mvers
<br />City Clerk
<br />L. C. Christensen
<br />Mayor of the City of Redwood City,
<br />California.
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<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 />339.50
<br />2-3/4
<br />Dean Witter & Co. )
<br />Donnellan & Co. )
<br />30,000
<br />5%
<br />Eastland & Co. )
<br />67,000
<br />252.00
<br />3�
<br />Blyth '& Co. )
<br />Heller Bruce & Co. )
<br />979000
<br />259.00
<br />2-34
<br />Kaiser & Co. )
<br />209000
<br />5%
<br />E. H. Rollins & Sons )
<br />779000
<br />21.00
<br />2-3/4
<br />Weeden & Co. )
<br />Mason Brothers )
<br />97,000
<br />1017.00
<br />2-3/4
<br />Bankamerica Company )
<br />209000
<br />5%
<br />American Trust Co. )
<br />77,000
<br />152.00
<br />2-1/2
<br />A'"M WHEREAS, the said bid of Bankamerica Company and American Trust
<br />Co. is the highest and best bid for said bonds, considering the interest
<br />rate specified and the premium offered, if any.
<br />NOW, THEREFORE, BE IT RESOLVED, by the Council of the City of
<br />Redwood City, as Follows, to wit:
<br />1. - Said bid of Bankamerica Company and American Trust Co. shall
<br />be, and is hereby, accepted and the Treasurer of the City of Redwood
<br />City is hereby authorized and directed to deliver said bonds to Bankamerica
<br />Company and American Trust Company upon payment to said City Treasurer of
<br />the said purchase price, to wit: Par, accrued interest at the rate of
<br />Five Percent (5%).and Two and One -Half Percent (2-1/2%) per annum, to date
<br />of delivery, and a premium of $152.00.
<br />2. - That all bids except the bid of Bankamerica Company and American
<br />Trust Co. are hereby rejected and the City Clerk is hereby ordered and
<br />directed to return to the unsuccessful bidders 'their several checks
<br />accompanying their respective bids.
<br />3. - That said $97,000 principal amount of Municipal Improvement Bonds
<br />of 1938 shall bear interest, payable semi-annually on May 1st and November let
<br />in each year, at the following rate(s):
<br />Bonds numbered 1 to 20, both inclusive, shall bear interest at the rate
<br />of Five Percent (0) per annum, payable semi-annually as aforesaid;
<br />Bonds numbered 21 to 97, both inclusive, shall bear interest at the
<br />rate of Two and One -Half Percent (2-1/2%) per annum, payable semi-annually
<br />as aforesaid;
<br />And the City Clerk is directed to cause to be lithographed, printed
<br />or engraved �t sufficient number of blank bonds and coupons of suitable
<br />quality, said bonds and coupons to show on their face that the same bear
<br />interest at the rate(s) aforesaid.
<br />RESOLVED, FURTHER-, that this resolution shall take effect from and
<br />after its passage and approval.
<br />.ADOPTED AND PASSED by vote of Five members of the Council of the City
<br />of Redwood City, this 4th day of November, 1938, by the following vote:
<br />(SEAL)
<br />Attest:
<br />Ayes: Wm. Hohn, R. N. Jones, P. A. McCarthy,
<br />G. W. McNulty, L. C. Christensen
<br />Noes: None.
<br />Absent: H. F. Anderson, E. A. Fletcher
<br />B. E. Mvers
<br />City Clerk
<br />L. C. Christensen
<br />Mayor of the City of Redwood City,
<br />California.
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