HomeMy WebLinkAbout71-229RESOLi7TZON N4. 71'229
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RESOLUTfiON SELL~NG $1~00.O~OQO COZ3NTY OF BUTT~
TEMPORARY NOTES FOR THE FISCAL YEAR 1971^1972 AND
FTXING THE D~FINITTVE RATE OF IN'TEREST THEREON
WHEREA,S, the Board of Supervisors of Butte County
has duly au~horized the issuance of 10 Temporary Notes,
fiscal year 197Z-1972, oF the denominata.on of $100,000 and
in the aggregate principal amount of $1,000,000 and furtheac
duly authorized the sale of said notes at public sale to
the highest ba.dder therefor; and
WHEREAS, notice of the sale of said notes has been
duly given and the following bids for said notes were and are
the only bids received, to wit:
Name of Bidder
United Ca7.ifornia Bank
ls Far o Bank
Ba~k of America
Net Interest Cost
Crocker National Bank
~
3.04
3.0858
3•10
3•51
_ __ _ __ _. _ . : ~~ ~l - .
and
WHEREAS, the bid of United California Bank
is the highest bfd for said notes, con-
sidering the interest rate specified and the premium offered
(if any) ;
NOW THEREFORE, BE IT RESQ~,VED by the Board df Super-
visors of Butte County, as follows:
l. Said bid of rrn;-kAr7 r.a~ifornia Ba.nk
be, and it is hezeby, accepted and the Connty Treasurer is
hereby authorized and directed to deliver said notes to said
purchaser thereof upon payment to said County Treasurer of
the purchase price, ~o wit: The par value thereof and a
premium of $ None , together with accrued interest at
the following rate(s):
Note Numbers Interest
(inclusive) Rate
~ -3._ to 1~ 3.O1~ ~
to
to
~.o
Said notes sha11 bear interest at the said rate(s), payable
at maturity.
2. Al1 bids except said accepted bid are hereby
rejected and ~he County Treasurer is hereby directed to return
to the unsuccessful bidders their several checks accompanying
Eheir respective bids.
3. The County Treasurer is directed to cause to be
prepared 1.0 blank notes showing that the same bear interest
at the rate(s) aforesaid.
2
4. This resolution shall take effect from and
after its passage and approval.
PASSED AND ADOPTED this ~L~h day of September,
1971, by the fo~lowing vote:
AYES: Supervisors Gilman, Madigan, Maxon, McKillop and Chairman Reynold
NOES : None
ABSENT: None
Ghairman of the Board o~ Supervisors
B : ~
fSeal] Ch i an of the Board
3
STATE OF CALIFORNTA )
) ss.
COUNTY OF BUTTE )
I~ Clark Ao Nelson , County Clerk~ and
ex-officio Clerk of the Board of 5upe.rvisors, of Butte
Coun~y, State of California, do hereby certify that the
above copp of Resolution No. 71-229 is a full, true and
correct copy of Resolution No.71-229 now on File in my
office, and that said Resolution No.71.-229 was adopted
on thel~th day of September, 197I, and has not been amended
or repealed, and is now in full force and ef€ect.
IN WTTNESS WHEREOF, I have h2reunto set my hand
and affixed the seal of said County thisl'~+th day of Sep-
tember, 197I.
~~a=~c~./~ ~'i •'~G`~,.~
Coun~y Clerk~" ~-'
.[Seal]