R-355
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RESOLUTION NO. 355
(Redevelopment Agency)
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A RESOLUTION OP THE REDEVELOPMENT AGENCY
OF THE CITY OF SANTA MONICA AWARDING
$14,470,000 BONDS OF SAID AGENCY TO THE
BEST BIDDER AND REJECTING ALL OTHER BIDS
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WHEREAS, at the time and place flxed for the
opening of blds for the $14,470,000 bonds of the Re-
development Agency of the City of Santa Monlca deslgnated
the "Parklng Lease Revenue" (the "Bonds"), all blds
were publicly opened, examined and read, and a tabulatlon
thereof has been entered In the mlnutes; and
mIEREAS, the bld of the bidder hereinafter
named is the best bid made by a responslble bldder for
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the Bonds;
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NOW, THEREFORE, the Redevelopment Agency of
the City of Santa Monlca DOES HEREBY RESOLVE, DETERMINE
AND ORDER as follows:
Sectlon 1. The followlng bid of Bank of Amer i ca NT&SA
and Associ ates attached hereto and marked "Exhlbl t A",
speclfYlng the purchase price for the Bonds plus accrued
lnterest to the date of delivery and the lnterest rates
per annum, lS the bld for the Bonds Yleldlng the lowest
net lnterest cost and sald bid is hereby accepted and the
Bonds awarded to the sald best bidder in acceptance wlth
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the terms of ltS proposal.
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Sectlon 2. All blds other than the one accepted
in Sectlon 1 hereof are reJected, and the Secretary of the
Agency lS dlrected to return the check accompanYlng each
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Resolution No. 355
Redevelopment Agency
I hereby certify that the foregoing resolution was duly adopted by
the Redevelopment Agency of the City of Santa Monica, Cal ifornia, at a special
meeting thereof held on the 20th day of November, 1978.
AYES: Bambrick, Reed, Trives, van den Steenhoven, Cohen
NOES: Scott
ABSENT: Swi nk
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John Jalili, Secretary
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BANKOFAMERICK&~
EXHIBIT "A"
PROPOSAL FOR PURCHASE OF MUNICIPAL BONDS
TO The Redevelop>1ent Agency of the
City of Santa tlonlca
. c/o tlr. Joh~ HeMer
Clty Hall, Room 210
168.5 11aln Street
Santa ~funlca, Callfornia
Dafe_N_oveJllber 20, 1978
PROPOSAL FOR Sll.,470,000 par value bonds
of THE REDEVELOPtENT AGENCY OF THE CITY 0
Sk'\TA 1jO~ICA, DOhi'lTOHN REDEVELOPHENT PRO-
JECT PAP~I~G LEASE REVE!fUE BONDS, of Los
Angeles County, California
Bonds Dated DeceiPber 1, 1978
Denommatlons $ 5,000
Interest payable semi-annually on June 1 and
December 1 In each year.
IN ACCORDANCE WITH THE TERMS OF THE OFFICIAL NOTICE INVITING BIDS, WE BID AS FOLLOWS
I nterest Rate Maturing From To and Including
7 7 _S-:% /-2 - / - P / /:2-J-ytD
7. 7 .c /:.. ;"'<-/-9'/ ...---- ---
/< ...!.~ ~, 1;1-/-F--<- /;{-/-;f3
/, :l 0 /c I..)~ /- 7~ '/ / .2 - I - 7 -5 ~.
", L/(J~ /J -/-7(, /~- I -f<?
f c' /;1 -/-Y'F /.2-/-0CJ
{.,J-6/<:
t, { {) /6 /2~/-OI /2-/-dL/
/2-1-00 - /2-/-0tF
. (J--,
/ 10/0
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ESTIMATED NET INTEREST COST $ /5(Y7-.5, 70cf?/!; or /. ~ 77.2. %
f.. . _/ /) c.; <' --'
gg We will pay par and accrued mterest to date of delivery, plus a premIum of $~~/ "" ,5/". J~____n__
o We will pay $_______ and accrued mterest to date of delivery
Acceptance not later than 26 hours from the date and time fixed for receipt of bids
Satisfactory legal opinion approvmg the validity of the bonds IS to be r~celved from
Messrs O'Helveny & l-Iyers attorneys, <,t no cost to us.
CertifIed copy of the legal opmlOn IS to be printed on each bond at no cost to us.
Delivery of the bonds to us IS to be on or prior to January 19, 1979.
Our Cashier's chec~ IS em:loseJ m the amount of 52.50,000.00.
ThiS bid IS m3de sub] eel to conditions Nos 2, 3 & 4 as sho~m on the reverse.
CUSIP nunbers are to be printed on each bond at your expense.
SUBMITIED BY
BANKOFAMERICA"""
HERRILL LYXCH \\llITE HELD
CAPITAL HARKETS GROUP
BLYTH EASn:.\;\; DILLON & CO. INCO~ORATED
DEk~ WITTER RLiXOLDS I~C.
SALO:ION BROTHERS
AND ASSOCIATES
by
~~KOF AMERIq\~
J:':-;27~L SECURIT}ES PEPT =~30,8.1n
"- /- . ?{:~'.<~-A / / / /' /U'/dJ'-C-.a:;.
l- - - / AUTHORIZED SIGN-ATURE"- , ("T"ITLE).../
Joint Hanagers
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BO~") 1'1177 ,REV)
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CONDITIONS CF BID
(Applicable only If referred to III t!-e 'C1~7 pc-ragi'c:p1 or bi"!}
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If 7he bonds are not tendered for del-very to us accon'par.;E'd by SOl..:! approving
legal opinion within the tIme stated in this proposa:, we shall ha"~ +~e rigM, ell our
opTion to cMcel the contract of purchase However. by ffilJtucf agreefT'e-,t +he
time for dehvery may be extended.
2 The bonds are to be executed by the mar>ual signature of at ieas~ one au~;'orized
official designated to sign the bonds.
3 In the eve'1t you are unable fo oward the bends to us or deliver the bonds III
accordance with the terms of our bid, our cashier's check 15 not to be casl,ec!
and IS to be returned to BANK OF AWtERiCA NT & SA
Securrtres Custody & Clearance Dept 1:3255
POBox 37003
Son FranCISco, CA 94137
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4. In the event the bonds are awarded and delivered to us, the check may be cashed
at the time of delivery and the proceeds applIed on the purchase price of the
bonds.
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