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<br /> --.-- <br /> . Bancroft Improvements Bonds, Series "G" at a net interest cost of $1,235,425. <br /> He further stated that First National Bank of Oregon bid a true-interest rate <br /> of 6.56805 percent on the principal amount of $4 million of General Obligation <br /> Parkland Acquisition Bonds, Series 1980, at a net interest cost of $2,466,212.50. <br /> These interest rates are less than might have been expected. <br /> Res. No. 3390--Awarding sale of General Obligation Bancroft Improvement <br /> Bonds, Series "G,1l in the principal amount of $3,850,000 <br /> to United States National Bank of Oregon at a net interest <br /> cost of $1,235,425.00 and a net effective interest rate of <br /> 5,87792 percent. <br /> Res. No. 3391--Awarding sale of General Obligation Parkland Acquisition <br /> Bonds, Series 1980, in the principal amount of $4,000,000 <br /> to First National Bank of Oregon at a net interest cost <br /> of $2,466,212.50 and a net effective interest rate of <br /> 6.56805 percent. <br /> Ms. Smith moved, seconded by Mr. Lieuallen, to adopt the resolu- <br /> tion. Roll call vote; motion carried unanimously, <br /> Meeting was adjourned to July 2, 1980. <br /> Respectfully submitted, <br /> e ~~~ <br /> City Manager <br /> (Recorded by Lynda Nelson) <br /> CTH:al/CM7a4 <br /> - <br /> 6/25/80--12 <br />