R-393
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RESOLUTION NUMBER 393 (RAS)
A RESOLUTION OF THE REDEVELOPMENT AGENCY
OF THE CITY OF SANTA MONICA AWARDING
$5,700,000 BONDS OF SAID AGENCY TO THE
BEST BIDDER AND REJECTING ALL OTHER BIDS
WHEREAS, at the time and place fixed for the opening of
bids for the $5,700,000 bonds of the Redevelopment Agency of
the
of Santa Monica, designated the ~Ocean Park
CIty
Redevelopment ProJect Tax Allocation Bonds, Series 1984" (the
"Bonds"), all bids were publIcly opened, examined and read,
and a tabulation thereof has been entered In the minutes; and
WHEREAS, any and all IrregularitIes in such bids have
been duly waIved as permitted by law; and
WHEREAS, the bid of the bidder hereinafter named IS the
best bid made by a responSIble bIdder for the Bonds,
NOW, THEREFORE, the Redevelopment Agency of the City of
Santa MonIca DOES HEREBY RESOLVE, as follows:
SECTION 1.
The bid of
E. F. Hutton & Co., INC.
attached
hereto and marked Exhibit "A," specIfying the
purchase price for the Bonds plus accrued Interest to the date
of delIvery and the Interest rates per annum, is the bId for
the Bonds YleldIng the lowest net Interest cost and saId bld
IS hereby accepted and the Bonds awarded to said best bidder
In accordance WIth the terms of Its proposal.
SECTION 2
All bids other than the one accepted In
SectIon 1 hereof are reJected, and the Secretary of the Agency
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IS directed to return the check accompanYIng each reJected bld
to the unsuccessful bidder
SECTION 3. The interest rates on the Bonds are hereby
flxed at the rates set forth In Exhib1t "A" hereto.
SECTION 4.
The Treasurer of the Agency 1S hereby
dIrected to deliver the Bonds to the successful bIdder upon
payment therefor,
IncludIng accrued Interest to the date of
del1very.
SECTION 5.
The Agency Secretary shall certIfy to the
adoption of thiS Resolution} and thenceforth and thereafter
the same shall be In full force and effect.
APPROVED AS TO FORM:
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ROBERT M. MYERS ~
City Attorney
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Adopted and approved thIS 9th day of October 1984.
dvL 4:1:
ChaIrperson
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I hereby certify that the foregolng Resolutlon No. 393(RAS)
was duly adopted by the Redevelopment Agency of the Clty of Santa
Monlca at a meetIng thereof held on October 9, 1984 by the fol-
lowIng Agency vote:
. Ayes: Agency Members: Conn, EpsteIn, JennIngs, Press,
Reed, Zane and Mayor Edwards
Noes: Agency Members: None
Abstaln: Agency Members: None
Absent: Agency Members: None
ATTEST:
L2-7t 7h.Jt~
Secretary
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