HomeMy Public PortalAboutResolution 65-5151
RESOLUTION NO. 65.515
RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF TEMPLE CITY, CALIFORNIA, AWARD-
ING BONDS TO BE ISSUED TO REPRESENT
UNPAID ASSESSMENTS ON LANDS IN VEHICLE
PARKING DISTRICT NO. 1 OF SAID CITY
WHEREAS, by Resolution No. 65 -496, this City Council called
for sealed bids upon $160,756.89 of bonds to be issued to represent
unpaid assessments upon lands in Vehicle Parking District No. 1 of
said city; and
WHEREAS, at the time and place fixed for the opening of said
bids all bids received were publicly opened, examined and read, and a
tabulation thereof has been entered in the minutes; and
!JHEREAS, the bid of the bidder hereinafter named is the
highest and best bid made by a responsible bidder for said bonds in
accordance with the published notice inviting bids;
NOW, THEREFORE, the City Council of the City of Temple City,
California, DOES HEREBY RESOLVE, DETERMINE AND ORDER as follows:
SECTION 1. That the bid of Charles L. Swanton
626 North Bedford Dr., Beverly Hilts, tallfornta
offering par flat for said bonds, to bear interest at the rate of
per annum, payable as provided in the notice inviting bids,
is the highest and best bid for said bonds in accordance with said
notice inviting bids, and said bid is hereby accepted and said bonds
IIawarded to said bidder in accordance with the terms of its proposal.
The premium of $ 161.00 offered in said bid is not required to
break a tie between that bid and another bid proposing the same in-
terest rate, and said premium shall not be included in the purchase
price for said bonds.
SECTION 2. That the interest rate on said bonds be and the
same is hereby fixed at the rate stated in Section 1 hereof.
SECTION 3. That all bids other than the one accepted in
Section 1 hereof are hereby rejected, and the City Clerk is directed
to return the checks accompanyincr said rejected bids to the respective
bidders.
SECTION 4. That the City Treasurer is hereby directed to
issue said bonds as provided by law and to deliver said bonds to the
purchaser thereof upon receiving the purchase price bid therefor as
hereinbefore stated. Said purchase price shall be deposited in a
special fund designated "Acquisition and Improvement Fund for Vehicle
Parkino District No. 1."
ADOPTED, SIGNED AND APPROVED this 17th day of August, 1965.
IATTEST:
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City C errk oar the City o
Temple City, California
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Mayor of`Me—City of
Temple City, California
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