HomeMy WebLinkAboutResolution No. 1966-69 f 1ChOFOLME® 0 ,
177 ' . 4.10.80
RESOLUTION NO. 6z ,— ,6 9
A RESOLUTION AWARDING THE SALE OF BONDS
IN RE: $1, 200, 000. 00 STORM DRAINAGE
GENERAL OBLIGATION BONDS, SERIES OF
1966; PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Council of the City of Cape
Canaveral, Florida, has met on November 17, 1966, at
1 : 00 o'clock P. M. , to open and considerall bids
submitted for $1, 200, 000. 00 Storm Drainage General
Obligation Bonds, Series of 1966; and
WHEREAS, the following bids were submitted:
Bidder , Net Interest Cost
ti Reynolds & 'Co. 5. 7385%.
Wm. R. Hough & Co. 5. 7402%
Barcus, Kindred & Company 5.8669% ) '
and it appearing to the ,City Council, after due con-
sideration that the bid of Reynolds & Company in the
amount of $1, 200, 000. 00 and accrued interest for the
$1, 200, 000. 00 Storm Drainage General Obligation Bonds,
Series of 1966, .bearing interest as hereinafter stated,
is the highest and best bid received;
NOW, THEREFORE, BE IT RESOLVED by the City Council
of the City of Cape Canaveral, Florida, that:
SECTION. 1. The said Bonds as above described,
awarded to Reynolds & Company at the bid of $1,200, 000. 00
and accrued interest for said Bonds bearing interest as follows :
Bond's Maturing Interest Rate ^
1968 - 1976 5 2%
1977 — 1996 5 3/4%
SECTION 2. This Resolution shall take effect
immediately upon passage.
ADOA ':ED by the City Council on this 17th day of
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