Resolution No. 79-117 i
CITY OF TIGARD, OREGON
RESOLUTION NO. 79"7
A RESOLUTION ACCEPTING BID OF U. S. NATIONAL BANK ON HUNZIKER
STREET LID-SERIES 12 BANCROFT BONDS, RATIFYING ACTION OF THE
CITY COUNCIL OF NOVEMBER 14, 1979.
WHEREAS, on the 14th day of November, 1979, sealed bids were
received and opened at the Tigard City Hall for the purchase of
$123,082.41 of City of Tigard General obligation Improvement Bonds,
Series 12, to be dated November 1, 1979, 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, eligible bidder offering to purchase
said bonds at the lowest net effective rats of interest cost to the
City of Tigard be accepted, now, therefore,
BE IT RESOLVED that the City Council of the. City of Tigard,
Oregon:
Section 1. The City Council of the City of Tigard hereby ratifies
and confirms the action of the City Council taken at its special meeting
of November 14, 1979 that the bid of the United States National Bank
of Oregon is the best eligible 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 7.03075 percent per annum. The City Council's acceptance of that
bid is hereby ratified and confirmed and the bonds shall be sold and
delivered to the bidder above named in this section, subject to veri-
fication of bond counsel.
PASSED by ,,vote of the City Council this 16'7-1"day of
December, 1979.
MAY -, CI Y F IGARD
ATTE T:
oris Hartig, order
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