Resolution No. 166 RESOLUTION NO. 166
SELLING SOUTH TAHOE PUBLIC UTILITY DISTRICT
l SR sw.w m BO OS
WHEREAS, the Board of Directors of South Tahoe
Public Utility District heretofore duly authorized the
issuance of $1,250,000 principal amount of bonds of said
District, to be ~nown as "South Tahoe Public Utility
District 1959 Sewer Bonds, "all dated July l, 1959, and
further duly authorized the sale of said bonds at public
sale to the highest bidder therefor; and
WHEREAS, notice of the sale of said bonds has
been duly given in the manner prescribed by said resolution
and the following bids for said bonds were and are the only
bids received by said Board of Directors, to wit:
Nam~ of Bidder
JOHN NUVEEN & CO.,Chicago, Illinois
SCHWABACHER & CO., San Francisco,
California
WACHOB-BENDER CORPORATION, Omaha,
Nebraska
WM. J. MERICKA & C0.,INC.,Cleveland,
Ohio
CRUTTENDEN, PODESTA & CO., Chicago,
Illinois
By GERALD A. HUCH
BANK OF AMERICA & ASSOCIATES
N. T. $. &A.
By BANK OF AMERICA, N.T.S. & A.
By A. SOMERVILLE, Manager
TAYLOR AND COMPANY & ASSOCIATEg
Investment Securities
439 North BedforU Drive
Beverly Hills, California
By H. L. Taylor
Account Members:
Taylor and Company, Manager
First California Company, San Francisco
Barcus, Kindred and Company, Chicago
Allison-Williams Company, Minneapolis
Juran & Moody, Inc., St. Paul
Boettcher and Company, Denver
Charmer Newman Securities & Co., Chicago
Net Interest Cost
to the District
5.0973~
4.990%
4.9075%
1
AND WHEREAS, the said bid of Taylor and Company
& ~SSQciates is the highest bid for said
bonds, considering the interest rate(s) specified and the
premium offered;
NOW~ THEREFORE, BE IT RESOLVED by the Board of
Directors of South Tahoe Public Utility District, as follows:
1. Resolution No. 162 adopted December 21,1959
directing sale of $1,250,000 principal amount of bonds of
said District designated "South Tahoe Public Utility District
1959 Sewer Bonds" is hereby re-adopted~ ratified and con-
firmed.
2. Said bid of Taylor and Company & Associates
for $1,250,000 par value of said bonds
shall be and is hereby accepted and the Treasurer of said
District is hereby authorized and directed to deliver said
bonds to said purchaser thereof upon payment to said
Treasurer of the purchase price, to wit: said par value
thereof and premium of $ 10.00 together with accrued
interest at the following rate(s):
Bond Numbers (inclusive) Interest Rate
See Exhibit A Attached
Said bonds shall bear interest at the said rate(s) herein-
above set forth, payable annually the first year on July l,
1960, and Semiannually thereafter on the 1st day of July
and the 1st day of January of each year.
5. That all bids except the bid of Taylor and
Company & Associates are hereby rejected and the
Clerk of the District is hereby ordered and directed to
return to the unsuccessful bidders their several checks
accompanying their respective bids.
4. The Clerk of the South Tahoe Public Utility
District is directed to cause to be lithographed, printed
or engraved a sufficient number of blank bonds and coupons
of suitable quality, said bonds and the coupons to show
on their face that the same bear interest at the rate(s)
aforesaid.
RESOLVED, FURTHER, that this resolution shall
take effect from and after its passage and approval.
PASSED AND ADOPTED this 14th day of January 1960
by the following vote:
AYES: 5
NOES: None
ABSENT.one
Directors
Norman L. Goeringer,
Earle F. Pankost
R. S. Gersick
Robert Wakeman
Vernon Wall
P~esident of the Board of DireCts
of South Tahoe Public Utility iYistrict
of E1 Dorado County, State of
California
~l~k of South~Ta~o~ PuSlib
Utility District and Secretary of
the Board of Directors thereof
3
Bond Numbers
(,,inclusive)
ll - 20
31 - 45
61 - 70
86 - 100
ll6 - 130
146 - 165
186 - 205
231 - 250
276 - 300
326 - 355
386 - 415
451 - 480
516 - 550
586 - 625
666 - 705
751 - 795
846 - 890
941 - 990
1046 - llO0
ll61 - 1220
1281 - 1345
1416 - 1480
1551 - 1625
1706 - 1780
1861 - 1945
2036 - 2120
2211 - 2305
2406 - 2500
Principal
Amount
$ 10,000
15,000
10,000
15,000
15,000
20,000
20,000
20,000
25,000
30,000
30,000
30,000
35,000
40,000
40,000
45,000
45,000
50,000
55,000
60,000
65,000
65,000
75,000
75,000
85,000
85,000
95,000
95,000
Maturity
Date
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
Interest
Rate
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
4.80
4.80
4.80
4.80
4.8o
SCHEDULE A
CLERK'S CERTIFICATE
I, Earle F. Panko~t , Clerk of Eouth
Tahoe Public Utility District, do hereby certify that the
foregoing is a full, true and correct copy of a resolution
adopted at an adjourned re~ularmeeting of said Board of
Directors duly and regularly and legally held at the regular
meeting place thereof on the 14th day of January, 1960, of
which meeting all of the members of said Board of Directors
had due notice and at which a majority thereof was present;
that at said meeting said resolution was introduced by
Director p~n~o~t and read in full, and
was thereupon, upon motion of Director Pankost ,
seconded by Director Wal~ , adopted by
the following vote:
AYES: 5 Directors Goeringer, Pankost, Gersick, Wakeman
and Wall.
NOES: None
ABSENT: None
That I have carefully compared the same with the
original minutes of said meeting on file and of record in
my office and that said resolution is duly entered of record
in Book 2 of Minutes, at pages to ,
inclusive, and said resolution is a full~ true and correct
copy of the original resolution adopted at said meeting and
entered in said minutes. That said resolution has not been
amended, modified or rescinded since the date of its adop-
tion, and the same is now in full force and effect.
WITNESS my hand and the seal of said South Tahoe
Public Utility District
this 2~l:s t day .o~y, 1960.
O~ei~k ~f South Tahoe Publ~'c
Utility District ~d ~-Officio
Secretly of the Board of Directors
thereof