HomeMy WebLinkAboutRES 452 Draft 01 1958
• i
COUNTY OF HAWAII - TERRITORY OF HAWAII
RESOLUTION NO. 2--
RESOLUTION PROVIDING FOR THE,ACCEPTANCE OF THE HIGHEST
BID FOR NINE HUNDRED THOUSAND DOLLARS: ($9005000) BONDS
OF THE-COUNTY OF HAWAII, TERRITORY OF HAWAII.
WHEREAS, by-Act 289 of the Session Laws of Hawaii
1957, the Board of Supervisors of the County of Hawaii is
authorized and empowered to issue Public Improvement Bonds in
the sum of Three Million Nine Hundred Ninety-One Thousand
Dollars ($3,991,000)9 and
WHEREAS, pursuant to the aforementioned statute and
proceedings heretofore had and adopted, the Board of Supervisors
of the County of Hawaii has directed the Treasurer of said
County to.issue Public Improvement Bonds in the sum of Nine
Hundred Thousand Dollars ($900,000); and
WHEREAS, public tenders were called to be opened at
the office of the Chemical Corn Exchange Bank, 30 Broad Street,
New York, N. Y., up to 2:30 o'clock, P.M., Eastern Daylight
Saving Time, or at the office of the Treasurer of the County
of Hawaii, Hilo, Hawaii, up to 8:30 o'clock A.M., Hawaiian
Standard Time on June 30, 1958 for the purchase of the fore-
going issue of bonds; and
p
WHEREAS, in response to the published notice of sale
of said bonds, bids have been received at the office of the
said Chemical Corn Exchange Bank as confirmed by cablegram
received by the County Treasurer's office as follows:
"MERRILL LYNCH PIERCE FENNER AND SMITH PAR PLUS PREMIUM
DOLLARS 879.30 FOR 3-3/8 PERCENT BONDS NET INTEREST COST
DOLLARS 348,433.20 SMITH BARNEY AND CO PAR PLUS PREMIUM
DOLLARS 5,292 FOR 3-1/2 PERCENT BONDS NET INTEREST COST
DOLLARS 356,958 GOLDMAN SACHS AND CO PAR PLUS PREMIUM
rz;. N
-2-
DOLLARS 3,465 FOR 3-1/2 PERCENT BONDS NET INTEREST COST
DOLLARS 3581785 C J DEVINE AND CO PAR PLUS PREMIUM
DOLLARS' 2,349 FOR 3-7/8 PERCENT BONDS NET INTEREST
COST DOLLARS 3981713.50 INTEREST COST CALCULATED BY
W DONALD JORDAN OF CHEMICAL BANK BID OF MERRILL.LYNCH
NEW YORK CITY IS. BEST BID RECEIVED HERE PLEASE WIRE
SUCCESSFUL BIDDER AND TOMWOODHOF WHEN AWARD IS MADE"
WHEREAS, the following bids have been received at
the office of said Treasurer at Hilo, Hawaii:
J;. C. EARLE, HONOLULU, HAWAII, $900,000
at 3.70% plus premium of $900.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF
SUPERVISORS OF THE COUNTY OF HAWAII, TERRITORY OF HAWAII:
I. That the Treasurer of said County be and he
hereby is authorized to accept the bid of the highest bidder,
to-wit, the bid of MERRILL LYNCH PIERCE FENNER AND SMITH,
Nine Hundred Thousand Eight Hundred Seventy Nine and 31100
Fly.
Dollars ($900,879.34) bid price for Nine Hundred Thousand
Dollars ($900,000) par value bonds, plus accrued interest to
date of such payment.
II. That the interest rate which said bonds are to
bear be and the same hereby is fixed in conformity with the bid
of Three and Three-eighths per centum (3 3/8%), as follows:
Nine Hundred Thousand Dollars ($900,000)
Bonds maturing on August 1 in each of the years
1961 to 1978, inclusive, bearing interest at the rate
I
of Three and Three-eighths per-centum (3 3/8%) per annum.
I Dated at Hilo, Hawaii, this 30th day of June, 1,958.
Introduced by:
6)1"-
C
:a.: at: yY- -aupervisor-, _16t Representative
District.