Resolution No. 81-114 CITY OF TIGARD, OREGON
RESOLUTION NO. 81-__L4/
A RESOLUTION ACCEPTING A BID FOR THE PURCHASE OF CITY OF TIGARD
GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES NO. 13; AND D.TRECTING
DELIVERY AND SALE THEREOF.
WHEREAS, on the 2nd day of November, 1981, bids were considered
during a special Council meeting for the purchase of $374,795.00 of
City of Tigard General Obligation Improvement Bonds, Series No. 13,
to be dated November 1, 1981, and the Council of the City having met
innecial session to consider said bids; and
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WHEREAS, several bids having been received and considered,
copies of each of which are attached hereto, and the Council deems
it desirable that the responsible bidder offering to purchase said
bonds at the lowest net effective rate of interest cost to the City
Of Tigard, Oregon be accepted; now, therefore,
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF TIGARD, OREGON:
Section 1. The Council of the City of Tigard hereby finds and
determines that the bid of Foster & Marshall, Inc. is the best bid
received for the purchase of General Obligation Improvement Bonds,
Series No. 13, being the one with the lowest net effective rate of
interest, said net effective rate of interest being 11.902288$ per
annum, with total interest cost to maturity of $287,415.85. That
e bid is hereby accepted and the bonds shall be sold and delivered to
the bidder above-named.
Passed: This 2nd day of Novemb_er,, 1981.
: 4 ATTEST: APPROVED:
Recorder Mayor 7—
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RESOLUTION NO. 81—_ALel