Reso 0439-08/1976 RESOLUTION NO. 439
RESOLUTION OF THE BOARD OF DIRECTORS OF
THE SAN MARCOS COUNTY WATER DISTRICT,
CALIFORNIA, ACCEPTING BID FOR BONDS OF
ASSESSMENT DISTRICT NO. 75-1 NORTH TWIN
OAKS
WHEREAS, the Board of Directors of the San Marcos County
Water District has heretofore called for sealed bids on bond of
said District for Assessment District No. 75-1, North Twin Oaks;
and
WHEREAS, it appears that the Secretary of said District
has caused a notice inviting bids to be given by publishing a copy
of said notice in the SAN MARCOS OUTLOOK and by causing to be
mailed copies of said notice to various individually recognized
municipal bond purchasers in the State of California; and
WHEREAS, upon the date set for receipt of such bids, to-
wit: August 16, 1976, this District has received the following Bids:
INTEREST AMOUNT PREMIUM/
NAME RATE BID DISCOUNT
Morgan, Olmstead, Kennedy
& Gardner, Inc. 7.7864% $2,783,025.00 $161,975.00
Miller & Schroeder
Municipals, Inc. 8.3845% 2,738,850.00 206,150.00
and
WHEREAS, the Bid of Morgan, Olmstead, Kennedy & Gardner, Inc.
is the best bid in response to the notice inviting bids as set forth
in Resolution No. 432 of said District; and
WHEREAS, it appears that said bid should be accepted;
NOW, THEREFORE, the Board of Directors of the San Marcos
County Water District DOES HEREBY RESOLVE, DETERMINE AND ORDER as
follows:
Section 1. That the bid of Morgan, 01mstead, Kennedy and
Gardner, Inc. for the purchase of the bonds of Assessment District
No. 75-1, North Twin Oaks, of said District, at $2,783,025.00, with
discount of $161,975.00, and to, bear interest at the annual rates set
-1-
Resolution No. 439
forth below:
6.00% due 7/2/77 7.10% due 7/2/87
6.00% due 7/2/78 7.20% due 7/2/88
6.00% due 7/2/79 7.30% due 7/2/89
6.20% due 7/2/80 7.40% due 7/2/90
6.40% due 7/2/81 7.50% due 7/2/91
6.50% due 7/2/82 7.50% due 7/2/92
6.65% due 7/2/83 7.50% due 7/2/93
6.80% due 7/2/84 7.55% due 7/2/94
6.90% due 7/2/85 7.55% due 7/2/95
7.00% due 7/2/86 7.55% due 7/2/96
is hereby accepted.
Section 2. Each and all of the aforesaid bids, other than
the bid of Morgan, Olmstead, Kennedy & Gardner, Inc. hereby are
rejected.
Section 3. That the Treasurer of the District is hereby
directed to proceed with the issuance of said bonds, all as hereto-
fore provided in Resolution No. 432.
ADOPTED, SIGNED AND APPROVED this 16th day of August, 1976,
by the following roll call vote:
AYES: Directors: Michel, Vanderbeck, Dow, Mahr, Blanchard
NOES: Directors: None
ABSTAIN: Directors: None
ABSENT: Directors: None
STATE OF CALIFORNIA)
) ss.
COUNTY OF SAN DIEGO)
I, MARY D. SNEAD, Assistant Secretary of the
Board of lr ctors of the San Marcos County Water District
D e
do hereby certify that the above and foregoing is a full,
true and correct copy of RESOLUTION NO. 439, of said
Board, and that the same has not been amended or repealed.
DATED: August 17, 1976
Assistant Secretary of the Board
of Directors of San Marcos County
Water District
(SEAL)