Resolution - Bids TIGARD WATER DISTRICT
RESOLUTION
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Chairman R. Verne Wheelwright reported that six bids were
delivered to the District's office at 5: 30 p.m. on Tuesday, Octo-
ber 3, 1972. President John M. Wied was present at that time, as
well as the District's administrator, Robert Santee, and the Dis-
trict's attorney, Kenneth W. Baines. The following bids for said
bonds were opened at that time.
1. United States National Bank of Oregon, with a net interest
cost to the District of $208,806.13, being an effective interest
rate of 4. 7836 per cent.
2. The Bank of California, with a net interest cost to the
District of $227,907.67, being an effective interest rate of
4.99255 per cent.
3. First California Company, with a net interest cost to the
District of $221, 834.27, being an effective interest rate of
5.082114 per cent.
4. First State Bank of Oregon, with a net interest cost to
the District of $213,420.83, being an effective interest rate of
4. 8893 per cent.
5. Merrill, Lynch, Pierce, Fenner & Smith, Inc. , with a net
interest cost to the District of $218,474. 52, being an effective
interest rate of 5.0051 per cent.
6. First National Bank of Oregon, with a net interest cost
to the District of $213,231. 45, being an effective interest rate
of 4. 8850 per cent.
It was moved by Mr. Nicoli, seconded by Mr. Rawls, and
unanimously
RESOLVED: That the bid of the United States National
Bank of Oregon for the purchase of the $480 ,000 General
Obligation Bonds of the Tigard Water District is ac-
cepted; and
FURTHER RESOLVED: That the good-faith deposit of the
sum of $9 ,600.00 shall be deposited in the general funds
of the District.
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