HomeMy WebLinkAboutRESO 1588'.,_ ,., ... _ ... ___ , .. ,, _______ ...... _,.. .......... ___ ... _ ............... __ ...... ,, __ .... _,,...,_, __ ·-···'
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282
B ! S .Q. ~ £. ! !. 2 !!_ ! Q. ~
PROVIDING POR THE SALE OF THI CITY or PALO ALTO
MUXICIPAL IMPROVEM!NT BOIDS OF 1946.
The Council ot the City ot Palo Alto DO RESOLVE &11 tollowa:
WHIRBAS, the Council ot the C1tJ ot Palo Alto,, purauant
to call therefor, h1111 rece1Yad b1da t~r the sale ot the City or
Palo Alto Municipal Improvement BondB ot 19"6, which bonda are
dated July l, 19,7, and cona1at ot 600 bond1 ot the donoa1nat1on
of $1 .. 000.00 each; titteen or said. 'bonds being payable each 1ear
rrom and after their date tor a period or tour years, and twenty-
eeven or aaid bonds being payable each year thereafter for a
period or twenty years; said bonds to bear interest at the rate
or lt per cent, parable aem1·&nnual17; and
WHEREAS, the Council d1d at 1t1 .. eting on June 9, 1947,
:ipen, examine and declare publicly a.ll pro:poaala or bids re.:.
ceived for said bonda; and
WHEREAS, this Council does hereby tind that the bid or
The P1rat National Bank of Chicago, The Milwaukee Company and
Hannatord & Talbot ror the par value or said bond•~ plus accrued
1ntereat and a prem1wn of $3,410.00, 1s the beat bid offered for
said bonds;
NOW, THEREFORE, this Council does hereby order that said
City of Palo Alto Municipal lllprovement Bonds of 19-47 be i!Uld the
aaae are hereby sold to The .Pirst National Bank or Chicag1:>, The
Milwaukee Company and Hannaford & Talbot .tor the aum or
$603,410.00, in accordance with their b1d.
Upon the payment or said sum or money into the Tre~Hury
or the City of Palo Al to, the City Treasurer is hereby au:chorized
to deliver said bonde properly executed ae directed by ordinance
or th1a Council to The First National Bank of Chicago, The
Milwaukee Company and Hannaford & Talbot.
The above and foregoing resolution waa duly and regularly
introduced and paaaed at a regular meeting or the Council of the
City of Palo Alto held on Monday, the 9th day or June, 1947, by
the following vote:
AYES:
Bentrott, Blois, Bolander1 Cashel, Cornish, Preedman,
Linder, Merner, Mitchell, Morten, Richards,, Tho1ta, Thomae, Wickett.
NOES: None.
ABSEMT: Bowden.
ATTEST:
APPROVED~
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