HomeMy WebLinkAboutRESO 1411'l
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. . ~ A i 0 L U T I 0 N --..... ----·-----N 0 • --1411
RESOLtV!ION PROVIDING FOR THE SALE OF THE
GITY OF PALO ALTO HOSPITAL BONDS OF 1939
'WHERE.ASJ the Council of t.he Cit;, of Palo Alto .. pursu-
ant to call ther~for. has rece.tved bids for the sal(' of City
of Palo Alto HoapitaJ. Bonds or 1939 .. which bonds are dated
November 1., 1939: 'uld consist of 160 bonds of' the denomination or $1000.00 each, bea.ring int..,~re9t at the rate of 3;~ per a.nnwn,
.PFJ.y·e.ble semi-an.nu.-'llJ.y on May lst and Novemb~r ~st; and,
'WHEREAS·' tho Council did, at an e.djo\.i.rned regul~.tr
.meeting on Septen:be·1~ 27, 194;,, open and e,;amine and declare
publicly all proposals or ~1ds_ received. for eaid bonds; and
WHEREAS, 1t was found that the bid of A!1ER!CAN
'l1RUST COMPANY for the par valt!e of said bon.ds, plus accrued
interest nnd a premium of $23;528.00, 1e the best bid offered for s_e.id bonds;
N.OW, THEREFOREJ the C()uric1l of the City of Pelo Alto DO RESOL~.JE, es follow~.1:
Thet 160 Palo Alto Hosp1tnl Bond~ of 1939 1 of the
denominatior.. of $1,000.00 each, be and the same are hereby
sold to ANERICAN 11RUST COM..PA£1Y, for the sum. of $183,528.00,
.:I.ll accordance vith its bid.
Upon the p.a:nnent oi' said sum of money !.ntc the t:::-e<?.~HJ.ry of the Cit~' of Palo Alto, thtJ City Treasur-er is hereby
authori7.(1d to deliver said bonds properly e-xecuted as dire<:t~d cy crdinnnce of th:J.s Counc:!.l ~ to AMERICAN TRUST CO!-iPANY.
Tht• flbove (1.nd foregoir~e r·esolutj.on ·wr.s duly passed
e.t ~.n ndj ournea :reeulnr met'~tlne cf the C1 ty Cou.nc:U or the City
01" Pt,lo Alto, held on September 271 1943, b;-; the following vote:
AYES:
NOES:
A3SENT:
Bentrott, Blois, C\,!"ni~h, C:;r,he:r, Merner, I.Utchell, ~1ort~.m .• R!chards 1 Southwood, 1'ho1. ts;
Cashel
Ho~~, Thomas~ Wood.
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