HomeMy WebLinkAboutRESO 5651,
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, 1420A
RESOLUTION NO. 5651 -
A RESOLUTION AWARDING SALE OF BONDS
$1,150,000 CITY OF PALO ALTO ELECTRIC ANO
GAS REVENUE BONOS
1979 SERIES A
02/01/79
ORIGINAL
RESOLVED, by the Council of the City of Palo Alto, California, that
WHEREAS, pursuant to its Resolution No. 5636 calling fer bids on the
sale of bonds, adopted on January 29, 1979, notice of said sale has been duly
given;
WHEREAS, this is the time and place fixed therein for consideration of
the bids received for the purchase of the bonds described in said notice, said
bids having heretofore been received and pubiicly opened, examined and
declared;
NOW1 THEREFORE, IT IS ORDERED, as follows:
1. That all written bids received. for the purchase of said bonds,
excepting the bid herein stated, be, and they are hereby, rejectedt and that
said bonds be, and they are hereby, ordered sold to SMITH BARNEY, HARRIS
UPHAM & COMPANY , as the highest responsible bidd~r therefor, said sale to be subject to all of the terms and conditions set forth in the Notice
of Sale of said bonds and in said accepted bid.
2. That the City Treasurer f s hereby directed to have said bonds
pr1ntedt and that the same be inmedi ately executed and delivered to said
bidder on receipt of the purchase price therefor .and upon the performance of_
the conditions contained in said written offer.
3. That the interest rate or rates of said bonds be fixed at the rate
or rates stated in said bid.
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I hereby_ certify that the forego·:ng is a full, true and correct copy of
a resolution duly passed and adopted by the Counci 1 of the City of Paio A1 !o,
Califor-nf a, at a meeting thereof held on the 12~h day of February ,
1979, by the following vote of the members therlof:
·AYES, and in favor thereof, Councilmembers: Brenner, Carey, Clay, Eyerly,
Fletcher, Henderson, Sher, Witherspoon
HOES, Councilmembers: None .
ABSENT, Councilmembers: · Fazzino
NOT PARTICIPATING: None ·