Resolution No. 77-32 CITY OF TIGARD, OREGON
RESOLUTION NO. 77- ,LQ
A RESOLUTION ACCEPTING A BID FOR THE PURCHASE OF
CITY OF TIGARD GENERAL OBLIGATION IMPROVEMENT BONDS,
SERIES 12, AND DIRECTING DELIVERY AND SALE THEREOF
WHEREAS, on the 1st day of March, 1977, sealed bids were
received and opened in the Council Chambers at the Tigard City
Hall during a special Council meeting for the purchase of
$177,395.80 of City of Tigard General Obligation Improvement Bonds,
Series 12, to be dated April 1, 1977, and the Council of the
City having met in special session to consider said bids; and
WHEREAS, several bids having been received and considered,
copies of each of which are attached hereto, and the Council deems
it desirable that the responsible bidder offering to purchase said
bonds at the lowest net effective rate of interest cost to the
City of Tigard be accepted; now, therefore,
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF TIGARD, OREGON:
Section 1. The Council of the City of Tigard hereby finds
and determines that the bid of Foster & Marshall, Inc., investment
bankers, is the best bid received for the purchase of General
Obligation Improvement Bonds, Series 12, being the one with the
lowest net effective rate of interest, said net effective rate of
interest being 5.1724 percent per annum. That bid is hereby accepted
and the bonds shall be sold and delivered to the bidder above
named in this section, subject to verification of bond counsel.
PASSED this day of March, 1977, by the Council of the
City of. Tigard.
Mayor
ATTEST:
Re-corder
Resolution No. 77-,3a_