HomeMy WebLinkAbout1990-50 Awarding Sale of GO Bonds
RESOLUTION NO. f'~-~Q
A RESOLUTION OF THE CITY OF ASHLAND, OREGON
AWARDING THE SALE OF $660,000 OF GENERAL
OBLIGATION IMPROVEMENT BONDS, SERIES 1990.
WHEREAS, the attached bids for the purchase of the City of
Ashland, Oregon (the "City") General Obligation Improveml~nt
Bonds, Series 1990, in the amount of $660,000 were received and
opened at 10:00 a.m. on November 1, 1990, at the offices of
Rankin, Mersereau & Shannon, 1600 Benjamin Franklin Plaza,
Portland, Oregon; and
WHEREAS, the bids received are as follows:
True Effective
Interest Rate
Bidder
Kidder Peabody
First Interstate Bank
Security Pacific Bank of Oregon
Seattle Northwest Securities
Paine Webber
u.S. Bank of Oregon
smith Barney
Edward D. Jones & Co.
6.386792
6.393756
6.437609
6.433719
6.443448
6.533118
6.541898
6.65786
WHEREAS, the bid of Kidder Peabody offers the lowest true
effective interest rate of 6.386792%.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ASHLAND AS
FOLLOWS:
The sale of $660,000 General Obligation Improvement Bonds,
Series 1990, is awarded to Kidder Peabody. The Bonds shall bear
interest at the rates stated in the successful bid.
PASSED by the city council in open session this 1st day of
November, 1990.
A~~
Actlng City Recorder
'f1~
Pat Ack in, Council President