CC Resolution No. 1693 r r
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R~SO~.UTION NQ . 1~
~ SEL~.IDI~ CTTY OF GuP~RT~NO
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1968 L~6Ri1flY aoNI~,S
' ~iNET~A3, the Ci~,y Counci 1 af the City of
' Cupex~tfno, County of s~an~C~t Clara~ Sta~e oP CaliPo~nia,
~ heretofor~ by resolution adopted on August 19, 1968,
duly authorized the fs~uanr.e af 1~300,000 principt~l.
amount of bonds to ~e known as "City of Cupertino 1g68
Librar;: ~onds," nll dated Oetober 1, 1968, ~nd furtiher
duly autho;•ized the asl~ ai' aaid bonda at public sule
to the t~,i~hest hidder ther~f4r; and
W}lER~AS, t~otice of the aalP of sgid t~ands
ha ~~et~n dtjlv ~*iven in ~he tr~nner ~?rer~cribed b,y snid
r~aalut:on and the :'ollowinF bids for gAid hond~ were
ttnrl ~r~ the ~nly hi~s r~ceived rv said City Council, to
wit:
~Jet Interest
IJame o f ~1 dde r C'os t
H$nk of drierica aa~. Aas~otiates 4.967832X
We11R facgo Bactk - Sc~ha~her & GGatpany 5.705996X
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AND W~~FREAS, the eaid bid ~of '~?uk af MaericA and w
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R Atsaciates
is the hi~hes~ bi~i f~•~r ~aid bonas, cona~:de.ritt~ the inter-
~st rat~(s ~~pe~ii'ie~ and the premium or.r~rea;
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~y iJOW, T:iER~:P~JRE, BE Ifi RE~OI,VED by th~ City Counail
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of the Citv ~.f ~upertino, as follows:
1. Said bid of Bank of Amelica a~nd A~reaciates
fc: ~300,000 par v~?lue o~' said bonds $ha71 be and le r~ereb,y
acaepted a.nd the Troasurer af the Gity o!' Cupertin~ ia here-
bv authorized and directed ~Lo de]iver said banda to st~id
purchaser thereof u~on payment to snid Treattu~rer af the
~urchase pr~ice, ta ~rit: Snid nar value ther~of and n oremium
of g 138.00 ,~aa~ther• with ~ect•ued inter~~st at the
followin~ ratea:
~3c~nd l~umDer ~ Interest Rate
~Ynclugive) Per Annum
a tn S 6.t)0 ~
9 to ib G.SO x
15 ~Q 25 4.75 ~
2b to 60 S.OG ~
ta z
Said rond: sha].1 bear !^tere~t at the said rate(~) herein-
abovc~ set farth, payable ~emiannually on April 1 and
Oc~ober 1 of each year (exce~,t the fii~st coupon which is
~ayable on ~~c~obei• 1, 1469. )
2. That a11 bic~s excppt the bid of _
flank of Americt~ and Ase~ociate~
are I3ereby re3eat~d anri the Cle~~k of said City is hrre'oy
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~ c~rd~red And dirrctrd to r~eturn ~o the un~ucQea~ful b~.dder~
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thcir scvrsral. ~h~ekg ~ncaampei~Yi.ng th~ir regpeative bida.
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i' 3. 7Che Clerk af ~a~d City is c~~tl~c~cteci to cau~e
; to be lithc~gr~pk~ed, printed or~ ~ngrav~d s suf2'ittienC number
ot" bl~nk banc~a and cc~upons of sui.table ~'quality, ~aSd bond~
t~nd coupon~ to show an their f~ae that th~ same bear
ir~terest aC thc rat~(s) aforcasid.
u. This resolution shall take effect fr~m and
~fter 1~s pns~a~e ~nd approval.
PA5a~U AND ADO°TED this 7th day of Uct~eber, 19G8,
b,y the follawanp; vote:
AY~:S: CqunC~lmett B~AVesn; Dempe~er, ~itsgerAld. Stakea, Nocl
Ntl~::: None
AHSE:"2T: Nonc
ayor v C ty af Cupertino
~ttC`Stt
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C tv ler of thc ty af CuK~er~n'a
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CL~FRK';3 CCRTIfiICATb'
I, Wi~.li,e~ E. Nyder, City Clexk of th~ Cx~~+ of
Cuper~ino, G'a1.1~tc~~nlae, do hereby ~e~~ify ~hat ti~E forF-
Fc?inF i~ ~ ru1X, tru~ anc9 cai~r~ct ~:c~py of r~au'lut.l~ra ~iuly
' adc~pted ~t a ragul~ar ~etin~ of Lhe C;xty Cc~t~ncil of ~a'ld
City duly cind requl~rly and le~r~7.~y h~ld at th~ ~~~ular
mE~etinR p1aQ~ tihereo4" an the 7th c+ny of Oatober, Y968, of
whtah m~e~in~: all oi' the member~ of aaid Gity Couneil had
due notice and a~. which a ma~ority thereof was pre~ent;
tha~ a~ ,~a1d meetina said resolution was introduced by
Councilman nemprrt+ez and read in futl, and was
~hereupon, v.pon motion ~f Councilman DemPgCer ~
adopted by Lh~ folYor~in~ vote:
AYE3: ~ounetlmen ~•'~ven, Dempster, Fitzgc~~cnld, Stokea. Noel
P'O~S : None
A[iSk:NT : None
Tha~ I hav~ carefial~.v com}~~red the sane with the
ori~int~l minutes of said m~etinN• on file anci o1' record in
my officP and that ~said resolution is duly entered af reeord
in thp minutes, and that 3aid reselution is a fu11, true and
carrect co~y of the ori~;inal resolution adopteri at Faid meet-
SnR and entered in sAid minutes. That said resolution ha~
~ not Ueen amend~d, nodifie~ or rescindEd stnce the date of its
adoption and the s ame is now in full f~rce and eff~et.
WITNE85 rqv hs~nd And the seal of ~h~ City oi" Cuper-
tino this 7th da;~ of Octnber, 1968.
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L`i~y er o t`~e y
o3`
C~~AL~ Cup~rt..~.no, Califa nia
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