Reso 0017-02/1956 RESOLUTION NO.
RESOLUTION OF THE BOARD OF DIRECTORS
OF SAN MARCOS COUNTY WATER DISTRICT
DISTRICT AWARDING $998,000 BONDS
OF SAID DISTRICT TO THE BEST BIDDER
AND REJECTING ALL OTHER BIDS.
WHEREAS, at the time and place fixed for the open-
ing of bids for the $ 998,000 bonds of
San Marcos County Water District,
designated Waterworks
Bonds, 1956 , and numbered 1 to 998, inclusive, all
bids were publicly opened, examined and read, and a tabula-
tion thereof has been entered in the minutes; and
WHEREAS, the bid of the bidder hereinafter named is
the best bid made by a responsible bidder for said bonds;
NOW, THEREFORE, the Board of Directors of
San Marcos County Water District
does hereby RESOLVE, DETERMINE AND ORDER as follows:
Include Section 1. That the bid of ________________
names of Merrill, Lynch, Pierce, Fenner & beane; Paine, Webber,
all Jackson & Curtis; Taylor & Co.; Stone & Youngberg; Fred D. Blake & co.;
members Jones, Congrove & Miller; C. N. White & Co.
of a offering par, accrued interest to date of delivery and a
syndicate premim of $ 429.00 for said bonds to bear interest
payable annually the first year and semiannually thereafter
at the rates of:
Rate Years
4 3/4 % 1961 to 1969
4 1/2 % 1970 to 1978
4 1/4 % 1979 to 1996
is the bid for said bonds yielding the lowest net interest
cost. Said bid is hereby accepted and the bonds awarded to
said best bidder in accordance with the terms of the proposal,
Sectlon 2. That all bids, other than the one
accepted in Section 1 hereof, are rejected and the Secretary
of the district is directed to return the check accompanying
said rejected bids to the respective bidders,
Section 3. That the interest rate(s) on said bonds
(is) (are) hereby fixed at the rate(s) stated in Section 1
hereof,
Section 4. The Treasurer of the district is hereby
directed to deliver said bonds to the successful bidder upon
the pa]nnent of par, accrued interest to date of delivery and
the premium above stated.
ADOPTED SIGNED AND APPR0VED this 23rd day of
February, 1956.
President of San Marcos County
Water District
and of the Board of Directors
ATTEST:
Secretary of San Marcos County
Water District
and of said Board
(SEAL)
The committee appointed to check and compute the bids on
the bonds for which bids were opened previously during this meeting
reported that the bid of the Bank of America and Associates is the bid
yielding the lowest net interest cost.
After considering the various bids and the Peport thereon,
it was moved by Mr. Atterbury, seconded by Mr. Haseltine, that the following
resolution be adopted and set forth in full on the minutes:
AYES: Directors Haseltine, Atterbury, Mahr, Trussell,
Wells.
NOES: None
ABSENT: None
RESOLUTION NO. 17
RESOLUTION OF THE BOARD OF DIRECTORS
OF SAN MARCOS COUNTY WATER DISTRICT AWARDING
$998,000 BONIB OF SAID DISTRICT TO THE BEST
BIDDER AND REJECTING ALL OTHER BIDS.