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RESOLUTION NO. 2893
RESOLUTION,UM CITY COUNCIL OF THE
CITY OF , CALIFORNIA.,
AWARDING $ 1,500,000 BONDS OF SAID
CITY TO THE BEST BIDDER AND REJECTING
ALL OTHER BIDS.
WHEREAS, at the time and place fixed for the
opening of bids for the $1, 00,000 bonds of the
City of Redlands , California, designated
"1971 WATER R BONDS,, "
and numbered to X00 both 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 said bonds;
NOW, THEREFORE, the City Council of the City of
Rediands , California, DOES HEREBY RESOLVE, DETER-
MINE AND ORDER as follows:
Section to That the bid of Goldman, Sachs &
Co. , 600 SouthSpringStreet, Los Angeles, Calif. 90014
offering par, accrued interest to date of delivery and a
premium of $.148 .00 for bonds bearing interest pay-
able annually the first year and semiannually thereafter at
the rate(s) of:
Rates Years
1972 to 1978
5 . 10 % 1979
5 . 25 % 1980 to 19
5 .40 % 19-87
5 . 50 % 1982 to 19
5 . 60 % 1983
5 . 70 1984 to 19
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is the bid for said bonds yielding the lowest net interest
cost. Said bid is hereby accepted and the bonds awarded
to said best bidder in accordance with the terms )f the
proposal .
Section 2. That all bids other than the one
accepted in Section 1 hereof are rejected and the City
Clem is directed to return the checks accompanying said
rejected bids to the respective bidders.
Section 3. That the interest rate(s) on said
bonds is (are) hereby fixed at the rate(s) stated in
Section l hereof.
Section 4. That the City Treasurer is hereby
directed to deliver said bonds to the successful bidder
upon payment therefor and accrued interest, if any, to
date of delivery.
ADOPTED, SIGNED AND APPROVED this 6th day of
19
or of the City
t
lands, californg,.
ATTEST:
. "
May
d e . Y
ds
, California.C .liforni.a. .
(SEAT.,)
STATE OF CALIFORNIA
COUNTY OF SAN BERNARDINO ss .
CITY OF REDLANDS i
I, PEGGY A. MOSELEY1City Clerl�
of the City of R c,d 1 cu�i 7 s California,
DO HEREBY CERTIFY EFat the foregoing res4
lutionwas duly adopted
by the City Council of said city and was approved by the Mayor
of said city at a regular meeting of said
City Council heldonthe 6th day of July
19 7 i and that it was so adopted as follows :
AYES : Councilmen Demirjyn, Knudsen, Miller,
Sewall, Mayor Cummings
NOES : Councilmen None
ABSENT: Councilmen None
(SEAL) -C I T,Y, C r-rk of tjYe Cit
Reta%s , Calif ornia.1?7�
STATE OF CALIFORNIA
COUNTY OF SAN BERNARDINO Ss .
CITY OF REDLANDS
1, PEGGY A. MOSELEY City Clerk
of the City of Rectlaftels s California,
DO HEREBY CERTIFY that the above and foregoing is a full, true
and correct copy of Resolution No. 2893 and
that the same has not been amended or repealed.
DATED: July 6 19 71
(SEAL) Mt of the Cit
ri-ands, California .