HomeMy WebLinkAboutRESO 6117... J~:KIJ:jn 05/11/83 0323K
RESOLUTION NO. 611 7
A RESOLUTION AWARDING THE SALE OF BONDS
CITY OF PALO ALTO UTILITY REVENUE AND REFUNDING BONDS
1983 SERIES A
ORIGl~~AL
RESOLVED, by the Counc,1 of t~e Ctty of Palo Alto, California. that
WHEREAS pursuant to its Resolution No. 6112 ent1tleo "A Series
Resolution Author1z1ng the Issuance of a Principal Amount of $4,765,000 C1ty
of Pa lo Alto Ut111ty Revenue and Refund1 ng Bonds. 1983 Ser1 es A" adopted April
25, 1983, notice of sale of City of Palo Alto Utility Revenue and Refundfng
Bonds, 1983 Series A has been duly given; and
WHEREAS, on the date hereof bids for the sale of said bonds were
publicly opened ana examtned and referred to this Council;
NOW, THEREFORE. IT IS ORDERED as follows:
1. That all written bids rece\ved for purchase of sa1d bonds excepting
the bid heretn stated. be and they are hereby. rejected. and that said bonds
be. an~ they are hereby ordered sold to Merrill. L,ynch, ehite Weld Cap1tal ~arket Group · '
as the highest bidder therefor, sa1d
sale to be subject to a 11 of the terms and cond1t1ons set forth 1 n the
Official Notice of Sale of sa1d bonds and in satd accepted bid.
2. That the City Clerk be, and she h hereby, d1rected to have said
bonds prt nted. and that the same be I med 1ate1 y s 1 gned. sea 1 ed and de 11Yered
to said bidder on receipt of the amount therefor and upon the performance of
the conditions contained \n said written offer.
3. That the Interest rate of sa 1 d bonds be. and the same 1 s hereby
f1xed at the rate stated in said ~1d.
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The foregoing Resol1,;t1on was duly and regularly adopted at a regular
meeting of the Counc!l of the Ctty of Palo Alto held on the~ day
of May , 1983, by the following votP.:
AYES: Bechtel, Cobbt Eyerly. Fazzino, Fletcher, Klein, Levy, P-enzel
NOES: ~one
ABSTENTIONS: None
ABSENT ~i therspoon
ATTEST: APPROVED:
APPROVED AS TO FORM:
,-~
APPROVED:
.1-
Sr.