HomeMy WebLinkAboutBOARD MINUTES 08-14-47
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MINUTES OF THE REGULAR MEETING
OF THE SANITARY BOARD OF THE
CENTRAL CONTRA COSTA SANITARY
DISTRICT HELD AUGUST 14. 1947
The Sanitary Board of the Central Contra Costa Sanitary
District convened in regular session at its regular place of
meeting located at 1335 Commercial Lane, in the City of Wal-
nut Creek, County of Contra Costa, State of California, on
the 14th day of August, 1947, at the hour of 11 o'clock a.m.
The meeting was called to order by President Weill.
The
following roll was called:
PRESENT:
ABSENT:
Directors Smitten, Toland, Wadsworth and Weill,
Director Johnson.
READING OF MINUTES
Director Smitten moved that the reading of the minutes of
the last meeting be waived, and that they be approved as
entered.
Motion was seconded by Director Toland, and carried
by the following vote:
AYES:
NOES:
ABSENT:
Directors Smitten, Toland, Wadsworth and Weill
None
Director Johnson
Director Johnson arrived and was accounted for as present.
BIDS FOR PURCHASE OF BONDS
Secretary Cutler announced that the only bid received was
from the Bank of America, received at 9:57 a.m.
The bid was
opened and read, as follows:
"Sanitary Board of
Central Contra Costa Sanitary District
133S Commercial Lane,
Walnut Creek, California
Gentlemen:
August 14,1947
For all but no part of the legally issued $1,800,000 par
value bonds of CENTRAL CONTRA COSTA SANITARY DISTRICT,
of Contra Costa County, California; dated June 15, 1947;
of the denomination of $1,000 each; interest payable
semi-annually on December 15 and June 15 in each year
and maturing $60,000 ~ar value on June 15 in each of the
years 1948 and 1949, $25,000 par value on June 15 in each
of the years 1950 to 1955, both years inclusive, $40,000
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~ar value on June 15 in each of the years 1956 and 1957
$65,000 par value on June 15 in each of the years 1958
to 1967, both years inclusive, $70,000 par value on
June 15 in each of the years 1968 to 1972, both years
inclusive and $90,000 par value on June 15 in each of
the years 1973 to 1977, both years inclusive; we bid as
follows:
$610,000 par value maturing June 15, 1948 to.June 15,
1961 inclusive, bearing interest at three
(:3) %,
$1,190,000 par value maturing June 15, 1962 to June 15,
1977 inclusive, bearing interest at two and
3/4 (2-3/4) %,
and we will pay par and accrued interest to date of del-
ivery, plus a premium of $2,649.00.
Enclosed is our cashier's check in the amount of $5,000
which is to be returned to us in the event this bid is
not accepted. '
Respectfully submitted,
BANK OF AMERICA NT & SA
Account Manager
/s/ Anton Cvietusa."
The following resolution was presented by Director Johnson,
seconded by Director Smitten:
RESOLUTION NO. 41
WHEREAS, the Sanitary Board of Central Contra Costa Sani-
tary District of Contra Costa County, State of California,
heretofore duly authorized the issuance of $2,400,000 principal
amount of its bonds, to be known as "Central Contra Costa Sani-
tary District of Contra Costa County, Issue or 1947 Bonds,"
consisting of 2,400 bonds of the denomination 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 1948 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 $1,800,000
principal amount of said Issue of 1947 (maturing in varying
amounts in each of the years 1948 to 1977, both inclusive) at
public sale to the highest and best bidder therefor; and
WHEREAS, notice of the sale of said $1,800,000 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 the following bids for said bonds were and are
the only bids received by said Sanitary Board, to wit:
Name of Bidder
Net Interest Cost
to District
Bank of America, National Trust &
Savings Association
AND WHEREAS, the said bid of Bank of America National Trust
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and Savings Association is the highest and best bid for said
bonds in the principal amount of i1,800,000considering the
interest rate(s) specified and the premium offered;
NOW, THEREFORE, 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 Bank of America National Trust
and Savings Association for $1,800,000 par value of said
bonds shall be, and is hereby, accepted and the Treasurer 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 premuìm of $2,649.00, together with
accrued interest at the rates set forth in the following
table:
Bond Numbers Principal Maturitl Interest
"( inclusi ve) Amount Date Rate
( Jüñel5 r
1 to 60 $60,000 1948 3 %
61 to 120 60,000 1949 3
121 to 145 25,000 1950 3
181 to 205 25,000 1951 3
241 to 265 25,000 1952 3
301 to 325 25,000 1953 3
361 to 385 25,000 1954 3
421 to 445 25,000 1955 3
481 to 520 40,000 1956 3
541 to 580 40,000 1957 3
601 to 665 65,000 1958 3
691 to 755 65,000 1959 3
781 to 845 65,000 1960 3
871 to 935 65,000 1961 3
961 to 1025 65,000 1962 2-3/4%
1051 to 1115 65,000 1963 2- 3/4
1141 to 1205 65,000 1964 2- 3/4
1231 to 1295 65,000 1965 2-3/4
1321 to 1385 65,000 1966 2-3/4
1411 to 1475 65,000 1967 2- 3/4
1501 to 1570 70,000 1968 2-3/4
1591 to 1660 70,000 1969 2-3/4
1681 to 1750 70,000 1970 2-3/4
1771 to 1840 70,000 1971 2- 3/ 4
1861 to 1930 70,000 1972 2-3/4
1951 to 2040 90,000 1973 2-3/4
2041 to 2130 90,000 1974 2-3/4
2131 to 2220 90,000 1975 2- 3/4
2221 to 2310 90,000 1976 2-3/4
2311 to 2400 90,000 1977 2-3/4
0- Said bonds in the principal amount $I,800,000 shall be
numbered, mature and bear interest at the said rate(s) here-
inabove 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 coupons to show on their face that the same bear
interest at the rate(s) aforesaid.
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PASSED AND ADOPTED this 14th day of August, 1947, by the
following vote:
AYES: Directors
Weill.
NOES: None
ABSENT: None.
Johnson, Smitten, Toland, Wadsworth and
COUNTERSIGNED:
~WSON tie WEIhL
President of the Sanitary Board
of Central Contra Costa Sanits.ry
District of Contra Costa County,
State of California.
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~s/ G. S. CUTLER
ecretary of~Sanitary Board
of Central Contra Costa Sanitary
District of Contra Costa County,
State of California.
BIDS FOR MAIN PUMPS
It waS moved by Director Smitten and seconded by Director
Wadsworth that the Board advertise for bids for main pumps in
the Daily Pacific Builder and the Daily Construction Service,
and carried by the following vote:
AYES:
Directors Johnson, Smitten, Toland, Wadsworth and
Weill.
NOES:
ABSENT:
None
None
There being no further business it was moved by Director
Toland, seconded by Director Johnson that the meeting be adjourned
to September 4, 1947 at 8:00 o'clock p.m.
r ~ dv1 o_~
President of the Sanitary Board
of Central Contra Costa Sanitary
District of Contra Costa County,
State of California
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