Resolution No. 84-39 CITY OF TIGARD, OREGGN
RESOLUTION NO. 84-,:�a
A RESOLUTION ACCEPTING A BID FCR THE PURPOSE OF CITY OF TIGARD GENERAL
OBLIGATION CITY BUILDING BONDS, SERIES 1984, AND DIRECTING DELIVERY AND SALE
THEREOF.
WHEREAS, on the 6th day of June, 1984, bids were considered during a special
Council meeting for the purpose of $2,200,000 of City of Tigard General
Obligation City Building Bonds, Series 1984, to be dated June 1, 1984, and the
Cc.,cn.-1 of the r_r y having _„et in E„ppr_ial sassinn to consi-lar 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, Oregon be accepted;
NOW, THEREFORE, BE IT RESOLVED by the Tigard City Council that:
Section 1: The Council of the City of Tigard hereby finds and
determines that the bid of U.S. National Bank of Oregon is the best bid
received for the purpose of General Obligation City Building Bonds, Series
1984, being the one with the lowest net effective rate of interest, said net
effective rate of interest being 10_51013% per annum, with coupon interest
cost to maturity of $3,202,437.50. That bid is hereby accepted and the bonds
shall be sold and delivered to the bidder above-named.
PASSED: This 6th day of June, 1984.
,-May r - City of Tigard
ATTEST:
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eputy City Recorder - City of Tigard
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RESOLUTION NO. 84-
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