Reso 0155-04/1961 RESOLUTION NO. 155
RESOLUTION OF THE BOARD OF DIRECTORS
OF SAN MARCOS COUNTY WATER
DISTRICT AWARDING $ 1,250,000 BONDS
OF SAID DISTRICT TO THE BEST BIDDER AND
REJECTING ALL OTHER BIDS.
WHEREAS, at the time and place fixed for the
opening of bids for the $ 1,250,000 bonds of
San Marcos County Water
District, designated "SAN MARCOS COUNTY WATER DISTRICT, WATERWORKS
BONDS, 1961
/ and numbered 1 to 1,250 , inclusive, all bids were
publicly opened, examined and read, and a tabulation
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
o~ dl Schwabacher & Co., 100 Montgomery St.,
members
of a San Francisco,4, California
syndicate
offering par, accrued. interest to date of delivery, and a
premium of $ None for said bonds to bear interest
payable annually the first year and semiannually thereafter
at the rates of:
Rates Years
~.~0 % 19 75~ to 19 s0
4.30 % 19 8~. to 19 90
2.35 % 19 ?l to 19 96
· Dist .Bends
Award Resn.
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.
Section 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 accompany-
ing 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 payment of par, accrued interest to date
of delivery and the premium above stated.
ADOPTED, SIGNED AND APPROVED this 18th day of
April 1961.
District and of the Board
of Directors thereof.
ATTEST:
Secretary of
San Marcos County Water
District and of said Board.
STATE OF CALIFORNIA
ss.
COUNTY OF SAN DIEGO
W. DENNIS WOOD
I, , Secretary of the
Board of Directors of San Marcos Count. Water District
DO HEREBY CERTIFY that the foregoing
resolution was duly adopted by the Board of Directors of said
district at an adjourned regular meeting of said Board
held on the l8th April , 1961, and that it
was so adopted by the following vote:
AYES: Directors Blanchard. Dodds. Mahr, Smith, ~
Trussell
NOES: Directors None
ABSENT: Directors None
(SEAL) Secretary of San M rcos
County Water District
and of the Board of Directors
thereof.
This being the time and place fixed for the canvass
of the returns of the General Water District Election held
on Tuesday, March 28, 1961, the returns of said election
(and the absentee votes cast at said election) were duly
and regularly canvassed as provided by law.
It was moved by Director Blanchard , seconded
by Director Dodds , that the following reso-
lution declaring the result of said canvass be adopted, and
that said resolution, together with a Secretary' s statement,
be set forth in full on the minutes:
AYES: Directors Blanchard, Dodds, Mahr,
Smith and Trussell
NOES: Directors
ABSENT: Directors
(Resolution declaring result of canvass
and Secretary' s statement adopting said
resolution follows )