HomeMy WebLinkAboutRESO 2907__ , M .... -• ·"' 040 -, •• I .I aµ:;uz;;;;;uaa;: s;p ii AHi a:a 444 a Ck Z!t£421&1& ij$ .$246 t it I S2 CJ. 2 . ) di 2 Jt#i qa. aq J I
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RISOLU'fIOJl BO. 290!
USOLlJTIOJ PROVIDIWG IOR TD SAU 01'
!1ALO AIJrO HOSPITAL BOMDS OF 1955 1 SDiiS 11 B"
The Council or the C1t7 or Palo Alto doea reaolve as tollowa:
WHEREAS, the Council or the City ot Palo Alto, pursuant to
call therefor, haa received bid• tor the sale or City or Palo Alto
Hoapit&l Bonda or 1955, Seri•• "B11
, ~h1ch bonds are to be dated
October l, 1957, and shall consist ot 3,000 bonds or the denollina
t1on or •1,000 each; $80,000 principal a•OWlt or a&1d bonds ah.all
be payable on the r1r1t day or Oetob•r or each ot the yeara 1958
to 1962, both 1ncl"1e1ve, bearing 1nter•Bt at the rate or -~ per
annu•, payable semi-annually; $100,000 principal SllOW1t or 1aid
vonde shall be payable on the first da7 ot October or each or the
ye~re 1963 to 1966, both 1nclue1ve, bearing 1ntereet at the rate
ot 4~ per annum, payable sea1-annUAlly; $100,000 principal a110unt
or 1aid bonda ehall be pa7able on the r1rat day ot Octob•r ot each
ot the Y•ara 1967 to 1970, both 1nclua1ve, bearing interest at the
rate of 3 .. 3~ p•r annua, pa14bl• aem. .. annually; $100,000 principal
a.o\lllt or 1a1d bonds shall be payable on the t1r1t da.y of October
ot eaoh of the 7eara 1971 to 1982, both 1nclua1ve, bearing intere•t
at the rate or 3wl/2~ p•r annum, payable •••1-annually; •120,000
principal amount or aeid bonds shall be paYftble on the t1ret da7
ot October of each of tho yeare 1983 to 1987, both 1nclus1ve, bear
ing interest at the rate or 3-1/2; per annum, payable aeai-annually.
WHlERKAS, the Council did, at its •••ting or Septe•b•r 23,
1957, declare publicly all proposal• or b1da received for said bonds;
and
WHlllWJ, tha Council does find that the bid ot HALSEY, STUART •
co., IMC. and ASSOCIA'l'&S tor the par value or aa1d bonds, plua
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1 ·~-~-~·-.........-~· ... -·-' -I hlAWWWWA PUZ ; AIUS:M I p; so 4 I 4 au UZI I El St $ £. a . ! $ a
.-• '" ,.,_ <'(•' '<' >';-'""~'' l>'''""'"'"f•b""""~I' ,We "li"*"'"<'~""'Jjllf ..... _""11"'i""'"V""'" •t•• __.. .. ..,-.,.., .... ~,-·,.~••'*~••·~·~~··~"""•"~'~' -""' -·~-• ·-• f
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~ccrued 1nterost and a prelliwt of $105.00 1a the beat bid ottered
tor as1d bonds on Alternate A or the Notice or Sale, dated
September 23, 1957;
NOii, '?HBR&fPORI, this Council doea he:reb7 order said C1t7
ot Palo Alto Hospital Bond• ot 1955, Serie• 11 B11 be and the7 are
hereby sold to Hal••1, Stuart• Co., Inc. and Aa•oci&tee tor the
sua or $3,000,000 plus accrued int•re•t to the date ot del1verr
and a prelli~m ot $105.00 in accordance with their bid on Alternate A.
It 1a further ordered and directed that all the bonds of said
Palo Alto Hoap1tal Bonda or 1955, Serie• 11 B11
, shall be non-callable
and shall be 1aaued in the form ot non-callable bond1, and the City
hereb1 waives any right to call or redeea any ot the bonds or ea1d
Series 11 B11 prior to their fixed matur1t7 date.
The above and foregoing reeolution was dul1 and regularly
introduced and passed at a regular •••ting of the Council or the
City ot Palo Alto held on Monday, the 2~z:.d ••• day ot Septe•ber
1957, by the following vote:
AYBS: .Byxbee, Cresap, Davie, Evans, 01rr1n, Marshall, Mitchell,
Navia, Porter, Rodgers, Ruppenthal, Stephens, Wood.ward
NOBS: None.
ABS!OfT: Bishop, Coreo:ran. , .. , 1 /!
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APPR~~ • .' 'j.~_:or 7 t"''" '::> / ...... ,. 2 (-"\/ -~
AT'l'BST:
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