HomeMy WebLinkAbout149_CCv0001.pdf RESOLUTION NO. 149
RESOLUTION OF THE REDEVELOPMENT AGENCY
OF THE CITY OF REDLANDS AWARDING
$3, 760, 000 LEASE REVENUE BONDS OF SAID
AGENCY TO THE BEST BIDDER AND REJECTING
ALL OTHER BIDS
WHEREAS, at the time and place fixed for the
opening of bids for the $3,760,000 lease revenue bonds
of the Redevelopment Agency of the City of Redlands desig-
nated "Parking Lease Revenue Bonds, Series B" (the "Bonds") ,
and numbered Bl to B752 , inclusive, all bids were publicly
opened, examined and read, and a tabulation thereof has
been entered in the minutes; and
WHEREAS, the bid of the bidder hereinafter
named is the best bid made by a responsible bidder for
the Bonds ;
NOW, THEREFORE, the Redevelopment Agency of
the City of Redlands DOES HEREBY RESOLVE, DETERMINE AND
ORDER as follows:
Section 1. The following bid of Bank of America NT & SA,
Blyth, Eastman Dillon & Co. , Inc. and Dean Witter & Co. , Inc. ,
joint managers
specifying the purchase price for the Bonds plus accrued
interest to the date of delivery and the interest rates
per annum, is the bid for the Bonds yielding the lowest
net interest cost:
[INSERT WINNING BID]
BAGSA
AINKOF/WERICK
PROPOSAL FOR PURCHASE OF MUNICIPAL BONDS Date---July--Z�75
TO Honorable Redevelopment Agency of the
City of Redlands
Office of the City Clerk
City Hall
30 Cajon Street
Redlands, California
PROPOSAL FOR $3,760,000 par value bonds Bonds Dated May 15, 1975 Denominations $ 5,00(
of REDEVELOPMENT AGENCY OF THE CITY OF
REDLANDS PARKING LEASE REVENUE BONDS,
SERIES B, of San Bernardino County, Interest payable semi-annua I ly on May 15 and
California. November 15 in each year, beginning November
15, 1975.
IN ACCORDANCE WITH THE TERMS OF THE OFFICIAL NOTICE INVITING BIDS, WE BID AS FOLLOWS:
Interest Rate Maturing From To and Including
8.00% 5/15/78 5/15/87
7. 70% 5/15/88 5/15/00
ESTIMATED NET INTEREST COST $ 5,120. 166.30 or 7.7308
We will pay par and accrued interest to date of delivery, plus a premium of ----------
F1 We will pay and accrued interest to date of delivery.
Acceptance not later than 26 hours from the date and time fixed for receipt of bids.
Satisfactory legal opinion approving the validity of the bonds is to be received from
Messrs. O`Me lveny & Myers attorneys, at no c os t to us
Certified copy of the legal opinion is to be printed on each bond at no cost to us
Delivery of the bonds to us is to be on or prior to September 26, 1975.
Our Cashier's check is enclosed in the amount of $ 75,000.00.
This bid is made subject toconditions Nos . 2, 3 & 4 as shown on the reverse.
CUSIP numbers are to be printed on each bond at your expense,
SUBMITTED BY:
BANKOFAMERICN' AND ASSOCIATES
BLYTH EASTMAN DILLON & CO. INCORPORATED
DEAN WITTER & CO. INCORPORATED by BANKOFAMERICN-
7-1— Mc= .
Said bid is hereby accepted and the Bonds
awarded to said best bidder in accordance with the terms
of the proposal.
Section 2 . All bids other than the one accepted
in Section 1 hereof are rejected, and the Secretary of
the Agency is directed to return the check accompanying
each rejected bid to the unsuccessful bidder.
Section 3. The interest rates on the Bonds
are hereby fixed at the rates stated in Section 1 hereof.
Section 4. The Treasurer of the Agency is
hereby directed to deliver the Bonds to the successful
bidder upon payment therefor including accrued interest
to the date of delivery.
ADOPTED, SIGNED AND APPROVED this 29th day of
July 1975.
CZairman of the Redeve)r"opme--nt-Agency
of the City of Redlands, California
ATTEST-
Deputy secretary of the Redevelopment Agency
of the City of Redlands, California
(SEAL)
STATE OF CALIFORNIA
COUNTY OF SAN BERNARDINO SS.
CITY OF REDLANDS
I, Alice G. Walls, Deputy City Clerk of the City of Redlands and
Deputy Secretary of the Redevelopment Agency of the City of Redlands,
California, DO HEREBY CERTIFY that the foregoing resolution was duly
adopted by the Redevelopment Agency of said City and was approved by
the Chairman of said Agency at an adjourned regular meeting of said
Redevelopment Agency held on the 29th day of July, 1975, and that it was
so adopted as follows :
AYES : Members Miller, DeMirjyn, Knudsen, Grace,
Chairman Cummings
ABSTAIN: Members None
NOES : Members None
ABSENT: Members None
(SEAL)
-Deputy City Clerk of the City of Redlands,
Deputy Secretary of the Redevelopment Agency