Resolution - Bond Bids TIGARD WATER DISTRICT
RESOLUTION
stow
Mr. Nicoli reported that four bids were delivered to the Dis-
trict's office at 5:30 p.m. on Friday, October 1, 1971. Commis-
sioner R. Verne Wheelwright was present at that time, as well as
the District's Administrator, Robert Santee, and the District'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 $227,553.75, being an effective interest
rate of 4.920.
2. First State Bank of Oregon, with a net interest cost to
the District of $232,584.62, being an effective interest rate of
5.0288.
3. Pacific National Bank of Washington, First California
Company, and Dominick and Dominick, Incorporated, with a net inter-
est cost to the District of $230 ,991.50, being an effective interest
rate of 4.994411.
4. First National Bank of Oregon, with a net interest cost
to the District of $230,278.13, being an effective interest rate
of 4.9789 .
It was moved by Mr. Cowell, seconded by Mr. Wheelwright, and
unanimously
RESOLVED: That the bid of the United States National
Bank of Oregon for the purchase of the $500,000 general
obligation bonds of the Tigard Water District is ac-
cepted; and
FURTHER RESOLVED: That the good-faith deposit of
$10,000 .00 shall be deposited in the general funds of
the District.
Mr. Baines reported that the Irwin-Hodson Company will charge
$326.15 to print the general obligation bonds. It was moved by
Mr. Cowell, seconded by Mr. Wheelwright, and unanimously
RESOLVED: That the Irwin-Hodson Company be retained to
print the general obligation bonds.