HomeMy WebLinkAbout0279 ResolutionRESOLUTION NO. 279
WHEREAS, pursuant to and in accordance with Ordinance No. 582
of the City of Pasco, Washington, r'Notice of Call for Bids for Pur-
chase of $132,000.00 General Obligation Bonds of City of Pasco" was
given; and in response to said call for bids five bids were received
and were publicly opened in the room of the City Mayor, City Hall,
City of Pasco, State of Washington, at 2:30 p.m., Pacific Standard
Time, on the 28th day of January, 1947; and
WHEREAS, at said bid opening the Council of the City of Pasco,
there convened in special meeting duly called, analyzed said bids
as offering the following effective rates of interest to the City
of Pasco:
The National Bank of Commerce of Seattle,
Washington, and Associates 1.950
Pacific Northwest Company of Seattle,
Washington 1.975%
Paine -Rice & Company, and Associates, of
Spokane, Washington 2.032%
State of Washington 2.10%
Foster & Marshall of Seattle, Washington 2.136%
and adopted a notion that Messrs. Graves, Kizer 8-, Graves and J. K.
Cheadle, attorneys retained by the City of Pasco, be requested to
have said analysis independently checked and verified or corrected,
and to advise the council whether the best bid is responsive to said
call for bids and otherwise acceptable; and
WHEREAS, said council in response to said request has been
advised that its analysis of said bids and its determination of the
best bid is accurate and that the best bid is responsive and accept-
able;
NOW THEREFORE, be it resolved that the bid of the National
Bank of Commerce of Seattle and associates is hereby accepted; that
the acceptance thereof, executed by W. A. Nelson, Mayor, on Janu-
ary 28, 1947, is hereby ratified; that the bonds be sold to said
National Bank of Commerce of Seattle and associates on the terms of
their bid submitted; that the good faith check for $6,650.00 given
by said bidder be deposited with the City Treasurer, and that the
checks of the other bidders be returned by the City Clerk.
Passed by the Council this day of February, 1947.
ATTEST:
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City Clerk
APPROVED AS TO FORM:
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