Resolution 123
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RESOLUTION NO. 123
SELLING $ 31 ,000 PRINC IP AL .A1vIOUNT OF CITY OF GILROY
MUNrC IPAL IMPROVEMENT BONDS OF 1940
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WHEREAS, the Common Council of the City of Gilroy,
by resolution duly passed and adopted on the 13th day of
February, 1940, authorized the issuance of $31,000 principal
amount of bonds of the City of Gilroy to be known as "City of
Gilroy Municipal Auditorium Bonds of 1940," being thirty-one
(31) in number, numbered consecutively from 1 to 31, both in-
clusive, of the denomination of $1,000 each, all dated
February 15, 1940, bearing interest at the rate of four (4)
per cent. per annum, payable semiannually on June 15th and
December 15th in each year, the first coupon on each bond being
payable June 15, 1940 and representing interest to said date
from February 15, 1940; said bonds maturing in numerical
order one (1) on December 15th in each of the years 1940 to
1968, both inclusive, and,two (2) on December 15, 1969; and
WHEREAS, notice of the sale or said bonds has oeen
a
duly given in the manner prescribed by
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said Resolution and the []
are the only bids received .
following bids for said bonds were and
by said Common Counci+, to wit:
Name of Bidder:
Kaiser & Company
Heller,Bruce & Co.
Lawson,Levy & '7illiams
Blyth &, Co., Inc.
Donnellan & Co; ,Inc.
Dean Witter & Co.
Bankamerica Co.
, American Trust Company
Eastland,Douglass & Company
Principal Amount: Premium:
i,?3l ,000.00
31,000.00
31,000.00
31,000.00
31,000.00
31,000.00
31,000.00 '
31,000.00
31,000.00
$4557.00
4888.00
4785.55
5057.00
3654.70
2682.00
4601.00
5275.75
4031.00
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AND VffiEREAS, the said bid of said
American
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Trust Company
for said bonds,
is the highest and best bid
RESOLVED, that all bids except the bid of said
American Trust Company
are hereby rejected and the City Clerk is h~reby ordered and
directed to return to the unsuccessful bidders their several
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checks accompanying their respective bids.
RESOLVED, further, that the said bid of said
American Trust Company
to purchase said $31,000 of said City of Gilroy Municipal Auditor-
ium Bonds of 19~0, bearing interest at the rate of four (~) per
,.cent. per annum, payable semiannually as aforesaid, at said
. .
'price of par, accrued interest and a premium of $5.275.75 be,
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and is hereby, accepted and the Treasurer of the City of ~ilroy
is hereby authorized and directEd to deliver said bonds to said
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American Trust COInlJarw
upon payment to said City Treasurer of the said purchase price,
to wit: Par, accrued interest at the rate of ~~ per annum to date
of delivery, and a premium of $5,275.75
.
RESOLVED, further, that the City Clerk is directed
to cause to be lithographed, printed or engraved a sufficient
number of blank bonds and coupons of suitable quality, said bonds
and coupons to show on their face that the same bear interest at
the rate of four (4) per cent. per annum, payable semiannually
on June 15th and December 15th in each year, the first coupon
on each bond representing interest from the date of said bond
to June 15, 19~0.
RESOLVED, further, that this resolution shall
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take e:f'fect'~'rromand after its passage and approval.
ADOPTED AND PASSED by vote of
five
members of the Common Council of the City of Gilroy, this lst
I
day of March, 1940, by the following vote:
Ayes: Councilmen:George C.Milias,Jr.,James Battersby,
George A.Martin,George IvI.Mason,Nat
Heiner.
Noes: Councilmen:None
Absent:Councilmen: Jack Rogers.
~11~A .
Mayor of the ity of Gilroy,
California.
(SEAL )
Attest:
G.C\.~
City Clerk
Presented to and' approved by me this
1st
day of
March. 19400
Mayor
ilroy,
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