HomeMy WebLinkAbout1989-08 Awarding Sale of G.O. Bonds
RESOLUTION NO. J''1-otf
A RESOLUTION OF THE CITY OF ASHLAND, OREGON
AWARDING THE SALE OF $810,000 OF GENERAL
OBLIGATION IMPROVEMENT BONDS, SERIES 1989.
WHEREAS, the attached bids for the purchase of the City of
Ashland, Oregon (the "City") General Obligation Improvement
Bonds, Series 1989, in the amount of $810,000 were receivE~d and
opened at 4:00 p.m. on May 2, 1989 at the offices of Rankin
VavRosky Doherty MacColl & Mersereau, 1600 Benj. Franklin Plaza,
One S.W. Columbia Street, Portland, Oregon; and
WHEREAS, the bids received are as follows:
Bidder
United States National Bank of Oregon
First Interstate Bank of Oregon
Kidder Peabody & Co.
Security Pacific Bank Oregon
Piper et. ale
Shearson Lehman Hutton
Seattle North West Securities
Smith Barney
True Effective
Interest RatE~
6.690595
6.7170
6.775641
6.77355
6.792874
6.8093293
6.8626447
6.897844
WHEREAS, the bid of united States National Bank of ore~n
offers the lowest true interest cost of $ 331,667.50 and he
lowest true effective interest rate of 6.690595 %.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY
OF ASHLAND, OREGON AS FOLLOWS:
The sale of $810,000 General Obligation Improvement :Bonds,
Series 1989, is award7d to United States National ~nnk nf Or~~ort.
The Bonds shall bear ~nterest at the rates stated 1n the
successful bid.
PASSED by the City Council in open session this 2nd day of
May, 1989.
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'Catherine Golden, Mayor
ATTEST:
f'tw,j i'LR~~~) .
Nan Franklin, City Recorder(Ae1t4ei)
.
CERTIFICATE OF THE CITY RECORDER
STATE OF OREGON
County of Jackson ss.
City of Ashland )
I, KAREN HUCKINS, Acting City Recorder of the City of
Ashland, Oregon, hereby certify that I am the official custodian
of all documents and records of the said City and that I have
prepared and attached originals or copies of the following
documents hereto:
1. Resol ut ion No.
the issuance and
improvement bonds
improvements in the
Ashland, Oregon.
89-06, a Resolution providing for
sale of general obligation
to finance certain public
downtown area of the City of
2. Extracts from the minutes of the regular meeting
of the Ashland City Council of April 4, 1989.
3. Resol ut ion No. 89-08, entitled "A Resolution of
the Ashland, Oregon, awarding the sale of $810,000.00
of General Obligation Improvement Bonds, Series 1989."
4. Extracts from the minutes of the regular meeting
of the Ashland City Council of May 2, 1989.
The above items that are copies have been compared by
me carefully with the originals thereof on file in my office and
they are true, correct and complete transcripts thereof, and
there is no litigation or threat of litigation in regard thereto
pending.
Dated this ~t!: day of May, 1989.
1989.
;V~ LL---J
KAREN HUCKINS
Acting City Recorder
Subscribed and sworn to before me this f~ day of May,
~~ ~ YA ,'-f}-~
Notary Public for Oregon !
My Commission expires: 17' ~~ /9'1
I .
RONALD L. SALTER
ATTORNEY AT LAW
94 THIRD STREET
ASHLAND, OREGON 97520