HomeMy WebLinkAboutBOARD MINUTES 09-23-48
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r-iINU'l'ES OF A SPECIAL MEET ING OF' THE
DISTRICT BOARD OF CENTFAL CONTRA COSTA
SANITA~Y DISTRICT HELD AT 11:00 O'CLOCK
A.M., SEPTEMBER 23. 1948
The District Board of the Central Contra Costa Sanitary District
conven~ed in special session at its regular place of meeting located
at 1822 Mt. Diablo Boulevard, in the City of Walnut Creek, County of
Contra Costa, State of California, on the 23rd day of September, 1948
at the hour of 11:00 o'clock a.m.
The meeting was called to order by
President Weill and the following roll was called:
PRESENT:
ABSENT:
Members Smitten, Toland, Wadsworth and Weill
Meber Johnson.
.êQ.RETARY PRO - TEM
It was moved by Member Smitten, seconded by Member Toland that
the Board appoint Mrs. Phillips Secretary Pro Tern.
Carried.
BIDS FOR $lOO,~OO.BONDS
Bids for the purchase of $100,000 General Obligation Bonds of
the District were opened and referred to the Engineer for tabulation.
The following resolution was offer~d by Member Toland seconded by
Member Wadsworth:
RESOLUTION NO. 361
RESOLUTION OF THE SANITA~Y BOk~D OF CENT~ CONTRA COSTA
SANITARY DISTRICT OF CONTRA COSTA COUNTY, CALIFORNIA,
SELLING $100,000 PRINCIPAL AMOUNT OF BONDS OF CENTRAL
CONTRA COSTA SANITARY DISTRICT, ISSUE OF 1947.
WHEREAS, the Sanitary Board of Central Contra Costa Sanitary Dist-
rict of Contra Costa County Ste.te of California, her?tofore duly
authorized the issuance of $2,400,000 principal amount of its bonds,
to be known as "Central Contra Costa Sanitary District of Contra Costa
County, Issue of 1947 Bonds", consisting of 2,400 bonds of the denom-
ination of $1,000 each, numbered from 1 to 2400, both inclusive, all
dated June 15, 1947, and maturing in consecutive numerical order, from
lower to higher, $60,000 principal amount on June 15th in each of the
years 194d to 1957, both inclusive, and $90,000 principal amount on
June 15th in each of the years 1958 to 1977, both inclusive; to bear
interest at a rate not to exceed five (5) per cent. per annum, payable
semi-annually on June 15th and December 15th in each year; and further
duly authorized the sale of $100,000 principal amount of said Issue of
1947 (maturing in varying amounts in each of the years 1950 to 1969,
both inclusive) at public sale to the highest and best bidder there-
for; and
WHEREAS, notice of the sale of said $100,000 principal amount of
said bonds (being part of said authorized Issue of 1947) has been duly
given in the manner prescribed by said resolution and tne following
bids for said bonds were and are the only bids received by said
Sanitary Board, to wit:
NAIllíE OF BIDDER
NET INTEREST TO DIST~ICT
American Trust Co. & R.H.Mou1ton Co.
$33,852.50
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John Nuveen & Company
$34,'123.38
$38,034.75
Ba,nk of America
AND WHEREAS, the said bid of American Trust Company and R. H.
Moulton and Company is the highest and best bid for said bonds in
the principal amount of $100,000 considering the interest rate(s)
specified and the premium offered;
NOW, THEREFÒRE;BE IT 'RESOLVED by the Sanitary Board of Central
Contra Costa Sanitary District of Contra Costa County, State of
California, as follows:
1. That said bid of American Trust Company and R. H. Moulton
and Company for $100,000 par value of said bonds shall be, and is
hereby, accepted and the Trea,surer of the County of Contra Costa
is hereby authorized and directed to deliver said bonds to said
purchaser thereof upon payment to said Treasurer of the purchase
price, to wit, said par value thereof and a premium of $10.00,
together with accrued interest at the rates set forth in the follow-
ing table:
Bond Numbers
( inclusive)
Maturity
De~te
(JÜÏ1ë15)
Interest
Rate
-
Princi't:ml
Amount
176 to 180 ';'5 000 1950 3%
':i' ,
236 to 240 5,000 1951 3%
296 to 3qo 5,000 1952 3%
356 to 360 5,000 1953 3%
416 to 420 5,000 1954 3%
476 to 480 5,000 1955 3%
536 to 540 5,000 1956 30&
~
596 to 600 5,000 1957 3/0
686 to 690 5,000 1958 3~
T?6 to 780 5,000 1959 310
866 to 870 5,000 1960 3%
956 to 960 5,000 1961 3%
1046 to l°ÆO 5,000 1962 3%
1136 to 1] 0 5,000 1963 3%
1226 to 1230 5,000 1964 5~
1316 to 1320 5,000 1965
1406 to 1410 5,000 1966 3~
1496 to 1500 5,000 1967 31'
1586 to J590 5,000 1968 3%
1676 to 1680 5,000 1969 3%
Said bonds in the principal amount of $100,000 shall be numbered,
mature and bear interest at the said rate(s) hereinabove set forth,
payable semi-annually on June 15th and December 15th.
2. The Secretary of said Sanitary Board is directed to cause
to be lithographed, printed or engraved a sufficient number of
blank bonds and coupons of suitable quality, said bonds and couuons
to shoy! on their face that the same bear interest at tIle rate( s)
aforesaid.
PASSED AbD ADOPTED this 23rd day of Se:otember, 1948, by the
follo"{"ring vote:
AYES:
NOES:
Directors
Smi tten, Toland, ~'¡aclm!Orth and 1'leill
None
ABSENT:
Director Johnson
Countersigned:
s/Lawson H. Weill
President of the Sanitary Board
of Central Contra Costa Sanitary
District of Contra Costa County,
State of California.
sf G. S. Cutler
Secretary of the Sanitary Board
of Central Contra Costa Sanitary
District.
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139
ADJOURNMENT
There being no further business, it was moved by Member Toland
seconded by Member Wadsworth that the Board adjourn to 8:00 p.m.,
September 23, 1948.
Carried.
p ~ JJúJ~ . . 0-(/
President of the District Boa,rd
of Central Contra Costa Sanitary
District of ContraCosta County,
State of California.
Countersigned:
~ ~"'-' p -L ~~h ~)
Morna Phillips, Sec etary Pro Tem
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