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RESOLUTION NO. 81-142 <br /> <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA AWARDING THE SALE OF IMPROVEMENT BONDS <br />TO THE LOW BIDDER <br /> <br /> WHEREAS, the City Council of the City of Santa Ana, by <br />Resolution No. 81-155 adopted on September 21, 1981, called <br />for bids for the sale and issuance of improvement bonds to <br />be issued by the City in Assessment District No. 246 pursu- <br />ant to the Improvement Bond Act of 1915; and <br /> <br /> WHEREAS, notice of the sale of the bonds has been duly <br />given in the manner prescribed by that resolution and the <br />following bid(s) for the bonds were and are the only bids <br />received by the City Council, to wit: <br /> <br /> NAME OF BIDDER <br /> <br />Merrill Lynch White Weld <br /> Capital Markets Group <br /> - Manager - <br /> <br />NET INTEREST COST <br />TO CITY <br /> <br />$4,551,753.80 <br /> <br /> AND WHEREAS, the bid of Merrill Lynch White Weld <br />Capital Markets Group - Manaqer - is the best bid for the <br />bonds, considering the interest rate(s) specified, discount <br />requested or the premium offered; <br /> <br /> NOW, THEREFORE, BE IT RESOLVED AND ORDERED BY THE CITY <br />COUNCIL OF THE CITY OF SANTA ANA, STATE OF CALIFORNIA, AS <br />FOLLOWS: <br /> <br /> 1. The bid of Merrill Lynch White Weld <br /> Capital Markets Group - Manaaer - for not to exceed <br />$3.~00.000 par value of the bonds shall be and is hereby <br />accepted and upon final determination of the total aggre- <br />gate amount of bonds to be issued, and upon their issuance, <br />the Director of Finance or his designee is hereby authorized <br />and directed to deliver the bonds to the purchaser upon pay- <br />ment to the Director or his designee of the purchase price. <br />The bonds shall bear interest at the rate(s) hereinbelow set <br />forth, payable January 2, 1983, and semiannually thereafter: <br /> <br /> <br />