HomeMy WebLinkAbout139 RDA_CCv0001.pdf 4
RESOLUTUION NO. 139
RESOLUTION Or THE REDEVELOPMrNT AGENCY
OF THE CITY OF REDLANDS A,`ARDING
$2,000,000 PRINCIPAL AMOUNT OF NOTES
Or SAID AGENCY TO THE BEST BIDDER AND
REJECTING ALL OTHER BIDS.
WHEREAS, at the time fixed for the opening of bids
for the $2,000,000 notes of the Redevelopment Agency of the
City of Redlands, designated the "1974 Tax Allocation Notes
Redlands Redevelopment Project," 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 notes;
NOW THEREFORE, BE IT RESOLVED, by the Redevelopment
Agency of the City of Redlands as follows:
Section 1. The bid of Goldman, Sachs & Co. offering
a purchase price of $1,911,000 and accrued interest to the date
of delivery of said notes, to bear interest payable semiannually
at the rate of 7-1/4% per annum, is the bid yielding the lowest
net interest cost. Said bid is hereby accepted and the notes
awarded to said best bidder in accordance with the terms of
his proposal.
Section 2. All bids other than the one accepted
in Section 1 hereof are rejected.
Section 3. The interest rate on said notes
is hereby fixed at the rate stated in Section 1 hereof.
Section 4. The Treasurer is hereby directed to
deliver said notes to the successful bidder upon payment
therefor with accrued interest to date of delivery.
ADOPTED AND APPROVED this 1st day of October, ,
1974.
irman of the Redevelbpment Agency
f the City of Redlands
ATTEST:
J p
Seery of ae Rede lox�ment
Agenc of the City Redlands
(SEAL)