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RESOLUTION NO. 74-91 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA, CALIFORNIA, AWARDING $1,950,000 BONDS OF SAID CITY TO THE BEST BIDDER AND REJECTING ALL OTHER BIDS WHEREAS, at the time and ~lace fixed for the opening of bids for the $1,950,000 water revenue bonds of the City of Santa Ana, California, designated "1962 Water Revenue Bonds, Series C" and numbered C-1 to C-390, both inclusive, all bids were publicly opened, examined and read, and a tabulation thereof has been entered in the minutes; and WHEREAS, the bid of the bidder hereinafter named is the best bid made by a responsible bidder for said bonds; NOW, THEREFORE, the City Council of the City of Santa Ana, California, DOES HEREBY RESOLVE, DETERMINE AND ORDER as follows: Section 1. That the bid of Dean Witter & Co.; Inc., in association with A.G. Becker & Co., Inc., and Clark, Dodge & Co., Inc. offering par, accrued interest to date of delivery and a premium of $294.00 for bonds bearing interest ~ayable annually the first year and semiannually thereafter at the rate Cs) of: Rates Years 7.00% 1975 to 1989 6.40% 1999 to 19 % 19 to 19 % 19 to 19 % 19 to 19 is the bid for said bonds yielding the lowest net interest cost. Said bid is hereby accepted and the bonds awarded to said best bidder in accordance with the terms of the proposal. Section 2. That all bids other than the one accepted in Section 1 hereof are rejected and the City Clerk is directed to return the checks accompanying said rejected bids to the respective bidders. Section 3. That the interest rate(s) on said bonds is Care) hereby fixed at the rate(s) stated in Section 1 hereof. Section 4. That the City Treasurer is hereby directed to deliver said bonds to the successful bidder upon payment therefor and accrued interest, if any, to date of delivery.