1927 SEP 08 CC MINEl Segundo, Cal. Sept. 8th, 1927.
A regular meeting of the City.Council of the City of El
Segundo, California, was called to order at 7:00 o'clock P. M. on the
above date, in the Council Chamber of the City Hall of said City, by
the City Clerk, the Mayor being absent. Councilman Gerow was
unanimously chosen Mayor pro -tem and he immediately assumed the duties
of the Mayor.
ROLL CALL.
Councilmen Present: Cannon, Gerow, Krimmel and Love.
Councilmen Absent: Binder.
READING OF MINUTES OF PREVIOUS MEETING.
The minutes of the regular meeting held on the 2nd day of September,
1927 were read, without error or omission being noted, and were approved
as read, upon motion of Councilman Cannon, seconded by Councilman
Kriimael, wjtich carried.
None.
WRITTEN CM=KICATIONS.
ORAL COMEUNICATIONS.
Mr, C. W. Lewis addressed the Council relative to an assessment
levied against his property for the opening of Oak Avenue. It was
explained to Mr. Lewid that the Report of the Commissioners, as filed,
had been approved by this Council, and that it is impossible to make
any changes therein, even if the Council were so minded.
REPORTS OF STANDING COMMITTEES.
Councilman Krimmel of the Public Works Committee, advised that
Mr. Christian, residing at the corner of Bonita Vista Avenue and Palm
Avenue, had called his attention to the fact that numerous automobile
accidents had been averted by narrow margins at the intersection of said
streets, and he recommended the erection of a SLOW sign at said corners.
By general consent the matter was referred to the Chief of Police for
investigation and the - erection of a SLOW sign if, in his opinion, such
action is warranted.
Mayor Binder appeared at the meeting at this time, the hour being
7 :19 o'clock P. M. and he immediately took his seat and assumed the duties
of the Mayor.
SPECIAL ORDER OF BUSINESS.
purchase
The receiving of bids for the 2aft of $24,000.00 par value Water
Works Bonds, Election 1922, of the City of E1 Segundo, having heretofore
been made a special order of business for the hour of 7 :30 o'clock P. M.
at this meeting, the Mayor arose and announced that the hour of 7:29 o'clock
P. M. had arrived, and asked if there were any person or persons present who
desired to file bids for the same. The hour of 7 :30 o'clock having arrived,
the Mayor declared that the time for receiving of bids on the purchase of "bonds
as heretofore referred to, as advertised for, closed.
The Bity Clerk announced that eight bids had been received for the pur-
chaseof $24,000.00 par value Water Works Bonds, Election 1922.
It was thereupon moved by Councilman Cannon, seconded by Councilman
Love, that the Council proceed to open, examine and publicly declare all of
the bids received for the purchase of $24,000.00 par value Water Works Bonds,
Election 1922. Carried.
M
Said Council thereupon proceeded to open, examine and publicly declare
all of the bids received for the purchase of 424,000.00 par value ';Water
;forks Bonds, Election 1922, which said bids were found by said Council
to be as follows, to -wit:
Bid of The United States National Bank, as fo -lows:
"For the issue of
X24,000 City of E1 Segundo California, Election
1922, 1'_uni ci pal Improvement Bonds
as described in your printed notice of sale attached, we
bid par and accrued interest to date of delivery and a premium
of ,:1878.00.
';le are enclosing Cashier's Check for w1300.00 to be used as
part payment provided the bonds are awarded to us.
T?i: UTTITP) STATES 11ATIOT ?AL BAIji
of Los Angeles ".
Said bid was accompanied by C_.skier's Check No. 58460, drawn on the United
States i;ational Bank of Los Angeles in the sum of w1300.00.
Bid of the Zlmer J. Kennedy Co., Los Angeles, as follows:
"For Twenty -four 'l 'housand Dollars 024000) City of M Segundo
;later ;"forks Bonds, Election 1922, bearing interest at 5% per
annum, interest payable semi- annually, both principal and interest
payable at the City t`reasurer's Office, City of E1 Segundo,
California, bonds to be in denomination of 41000 each, numbered
and maturing as follows:
"umbers 161 -168 inclusive due January 2, 1951.
Lumbers 169 -176 inclusive due January 2, 1952.
Y=bers 177 -184 inclusive due January 2, 1953
..e will pay you the par value thereof together with accrued interest
from date of last coupon to date of delivery at the office of your
City Treasurer, and in addition thereto a premium of X1167.00.
Prior to our payment for and delivery of bonds, :e are to be
supplied with the unqualified approving opinion of Messrs. O'melveny,
Millikin & Tuller, Los Angeles attorneys, on these bonds, as a
direct obligation of the City of E'1 Segundo.
As an evidence of our good faith, vie deposit herewith Cashier's
Check Yo. 25900 in the amount of :,>1200 payable to the order of
your City Treasurer, same to be presented for payment only in case
we fail to comply with the terms of this proposal and to be for-
feited as liquidated damages in the event we decline or fail to
to e up and pay for said bonds in accord::.nce herewith.
Respectfully submitted,
Ali- 120 -i Li J. =_EDY CO. ,
By :Amer J. Kennedy."
::aid bid was accorma.nied by Cashier's Check Igo. 25900, drawn on the
1'erchants Rational Trust & Savings Bank of Los Angeles in the sum of N1200.00.
Bid of Freeman, Smith & Camp Co., as follows:
"Referring; to ; 24,000 par value legally issued 5% Water Works
Bonds, Election 192", of the City of El Segundo, California,
dated January Z, 1922, maturing serially in the amount of
x;,8000 annually on January 2 from 1951 to 1953, inclusive, both
principal and semi - annual interest payable at the office of the
City Treasurer of the City of EZ Segundo; said bonds to be in
denomination of ;x1000 each:
277,j
C
wow
For such bonds we will pay you the price of par and
accrued interest plus a premium of ..31772.80.
i/e attach hereto cashier's check 1o. 25885, for :31290
payable to the order of the Treasurer of the City of
Segundo, said check to be held by you and applied as part
payment for the bonds if awarded to us; otherwise to be
returned upon demand.
It is understood that we are to be furnished with the
opinion of Messrs. O'lielveny, Millikin,& Taller of Los
Angeles, unconditionally approving the legality of said
bonds.
Respectfully submitted,
FRr ,'A1'T, SMITH & C:i 'P CO.,
By Samuel B. Franklin."
Said bid was accompanied b-r Cashier's Check Ho. 25885, drawn on the
Merchants National Trust & Savings Bank of Los Angeles, in the sum of `=90.00.
Bid of Bieg - Hoffine Company, Los Angeles, as follows:
"For the legally issued 924,000 Water 'irorks Improvement 5j
Bonds, denomination X1,000, principal and semi - annual interest
payable at the Office of The Treasurer, City of El Segundo,
bonds dated January 2, 1923, maturing X8,000 on Jaimary 2 of
each year 1951, 1952 and 1953, as per copy of your advertised
Notice of Sale, we will pay you upon delivery to us, par and
accrued interest to date of delivery, plus a premium of
w802.70.
This bid is made subject to your immediate acceptance and
is conditioned upon our being furnished with certified
transcript of proceedings evidencing the legality of the
issue to the satisfaction of a recognized bond attorney,
all within a reasonable period of time.
In accordance with the requirements of your published Notice
of Sale, we enclose certified check for :1,200 as a guarantee
that we will take up and pay for the bonds, if awarded to us,
said check to be held by you until delivery of bonds to us
and to be forfeited by us as Rill and liquidated damages in
the event we do not take up the bonds as above provided, or
to be returned to us promptly in the event our bid is not
accepted.
Respectfully submitted,
BIEG -HOFF INE CCYPANY
RUSSELL SUTH RL IN & CO.,
By "Im. G. Delta."
Said bid was accompanied by Cashier's Check No. 11604, dravrn on the
'"ef'chants Eational Trust & Savings Bank in the sum of ; 1235.00.
Bid of -lilliam R. Staats Co., Los Angeles, as follows:
"For :,24,000 -JJater Works Bonds of the City of El Segundo,
County of Los Angeles, State of California, of the denomina-
tion of .1,000 each, dated January 2, 1923, maturing 48,000
of said bonds in each of the years 1951 to 1953 inclusive,
bearing interest at the rate of 5% per annum, payable
semi - annually, and constituting direct general obligations
of said City, ae will pay you on delivery to us the sum of
par, accrued interest to date of delivery, and a premium
thereover of X1,771.00.
x 279
This bid is made for immediate acceptance and for prompt
delivery of the bonds to us accompanied by the opinion of
Messrs. O'Melveny, Yillikin & 'idler fully approving the
legality of these bonds in all respects; you agreeing to
furnish us, prior to delivery, a full certified transcript of
all proceedings had to authorize this issue.
We enclose herewith as evidence of good faith certified or
cashier's check for X1,350.00, same to be retained by you
as part payment in case the bonds are sold to us; otherwise
to be returned.
Respectfully submitted,
i'IILLIAT—. R. STAATS CO.,
By John Earle Jardine, Jr."
Said bid was accompanied by Certified Check No. 11661, drawn on the California
Bank, Los Angeles, in the sum of 9"1350.00.
Bid of R. H. Moulton & Company, Los Angeles, as follows:
"For the 9"24,000, par value City of E1 Segundo Water Works
5,107 Bonds, of the denomination of :`1,000 each, dated January
2, 1923, and maturing X8,000 each year on January 2 from
1951 to 1953 inclusive, interest payable semi - annually on
January and July 2, at the .reasury of the City of E1
Segundo, California, we will pay you X24,000, being the
par value of said bonds, accrued interest to date of
delivery, together with a premium of 9"1730.00 (Seventeen
Hundred Thirty Dollars).
This bid is made subject to immediate acceptance, and with
the understanding that upon delivery you will furnish us
with the approving opinion of Messrs. 0131elveny, Millikin
and Tuller, Attorneys of Los Angeles, California, covering
the legality of this issue in all respects.
As evidence of our good faith, and to comply with your
Notice of Sale, we hand you herewith Cashier's check of the
Security Trust & Savings Bank, Los Angeles, California, for
X1,300.009 being in excess of 511ol of the amount of our bid,
said check to be used in part payment for the bonds when
taken up by us, or to be returned promptly in the event we
are not awarded the bonds under the terms hereof.
Respectfully submitted,
R. H. MOULTON, & COMPATTY,
By E. W. Heintz."
Said bid was accompanied by Cashier's Check No. 514450, drawn on the
Security Trust & Savin s Bank, in the sum of 41300.00.
Bid of Dean :litter & Co., Los Angeles, as follows:
"For the legally issued 9"24,000 City of E1 Segundo Municipal
Improvement Bonds (dater Works), in the denomination of
N1,000.00 coupon bonds, bearing interest at the rate of 50
per annum, payable semi - annually, both principal and interest
payable at the office of Treasurer of the City of E1 Segundo,
said bonds bearing date of January 2, 1923, and maturing
thereafter from January 2, 1951 to January 2, 1953, inclusive,
as shown in your printed hot ice of Sale, We will pay you par
and accrued interest to date of delivery, and in addition
thereto a premium of(9'1,839.52) One Thousand Light Hundred
Thirty -Wine and 52/100 Dollars.
As an evidence of good faith, we hand you herewith
certified check on the First Iational Bank of Los
Angeles for O'1,307.00; said check to be held by you
and used in part payment for the bonds when delivered
_to us, with the approving opinion of Messrs. OlMelveny,
Millikin & Tuller, said check to be returned promptly
in the event this bid is not accepted. This bid is
made in accordance with your printed Notice of Sale.
Very truly yours,
DEAN i7ITTER & CO.,
By Guy ;litter."
Said bid was accompanied by Certified Check No. 2552, drawn on the First
National Bank of Los Angeles, in the sum of ;1307.00.
Bid of Anglo London Paris Company, Los Angeles, as follows:
"For $24,000 par value Water Works Bonds, rZection 1922,
of the City of EZ Segundo, we hereby bid you par and
accrued interest to date of delivery, plus a premium of
N1,822.00.
The bonds above bid for are more particularly described as
follows:
,24,000 par value dater „orks Bonds, Election
1922, of the City of El Segundo, Los Angeles
County, California; dated January 2, 1923; of
the denomination of X1,000 each; bearing
interest at the rate of five (5°0�) per cent per
annum; payable semi - annually; and maturing:
"'8,000 par value on January 2, in
each of the years 1951 to 1953, both
years inclusive.
The above bid is rade with the understanding that if success-
ful, we shall be furnished free of charge with the satis-
factory opinion of Messrs. O'Melveny, Millikin & Tuller,
of Los Angeles, California, approving the legality of the
above bonds in all respects.
Enclosed herewith please find our cashier's check for
$1,310.00, drawn upon the Merchants national Trust &
Savings Bank, Los Angeles, California, which is to be
returned to us in the event this bid is not accepted.
Very truly yours,
ANGLO LONDOr PARIS COMPANY,
By 77. Edgar Spear, representative."
Said bid was accompanied by Cashier's Check No. 25755, drawn on the
I;Ierehants National Trust & Savings Bank of Los Angeles, in the sum of
Y1310.000
It was thereupon moved by Councilman Gerow, seconded by
-
Councilman Love, that resolution 3:o. 172, entitled:
A RESOLUTIOi OF THE CITY COUNCIL (FOMMLY BOARD
OF TRUSTEES) OF TH3 CITY OF ME, SEGUI.;DO, CALIFORNIA,
A":ARDING TO E MUTED STATES NATIO ::AL BANK OF LOS
ANGST, S, CALIFORI;IA, -'24,000.00 PAR VALUE WATER WORKS
BOIZDS, ,CTIOI: 1922, OF TIME CITY OF M SEW DO,
CLLIF ORI� Li,
which was read, be adopted. Carried by the following vote:
Ayes: Councilmen Cannon, Gerow, Krimmel, Love and Binder.
Does: None.
Absent: None.
PAYLLM BILLS.
@he following demands, having had the approval of the Committee on
Finance and Records, were read:
moved by Councilman Cannon, seconded by Councilman Love, that the
demands be allowed, and warrants drawn on and paid out of the respective
funds covering the same. Carried by the - following vote:
Ayes: Councilmen Cannon, Gerow, KrimmeL, Love and Binder.
Toes: Pone.
Absent: None.
ZME BUSI1.2SS.
�'he City Clerk presented to the Council a communication from the office
of the County Auditor of Los Angeles County, California, setting forth certain
segregations of property ag -.inst which special assessments have been levied,
for improvements within the said City, which segregations, the City Clerk
explained, differ from the original assessments as levied, and necessitate
a segregation of the original assessments, so as.to fit the.assessments
as spread upon the tax roll of the County. y'he City Clerk designated said
communication, for the purpose of identification and reference, as
communication Yo. C -101 from the office of the County Auditor of Los Angeles
County, California, in re segregation of various properties.
It was thereupon moved by Councilman Gerow, seconded by Councilman
Love, that the following resolution be adopted:
RESOLVD, that the City Clerk of .the .City of E1 Segundo,
California, be and he is hereby authorized and instructed to
examine communication ito. C -101, and if he finds said segre-
gations proper and not interfere with the security of the
holders of bonds which may have been issued for the various
improvements involved, that said Clerk notify said County
Auditor that said segregations, as so indicated, may be made,
and in such case, this Council does hereby acquiesce therein
and consent to the making thereof; provided, however, that
should said Clerk find that any modifications are necessary
in order to preserve the rights of either property owners or
the holders of bonds in the said matter, that he shall modify
his report and notification to said County Auditor accordingly,
-so as to protect the interest of said property owners and said
bond holders as far as possible, and that as so modified,
said list and report shall be and the same is hereby acquiesced
in and consented to by this Council.
Carried by the following vote:
Ayes: Councilmen Cannon, ".T'erow, Krimmel, Love and Binder.
.''oe s: None. Ab sent : None.
Xo further business appearing to be transacted, at this meeting, it
was moved by Councilman Cannon, seconded by Councilman Gerow, that the
meeting adjourn. Carried.
Respect ly subm' ed
Approved:
•5•.• City C1 rk.
I%yor. _
General
Fund
General Fund
Clyde Woodworth
5.15
Edna L. Harlan
9.52
Daniels Hardware
48.09
F. C. MacLean
21.00
Los Angeles Rubber Stamp Co. 10.17
El Segundo Construction
Co. 123.91
Redondo - Inglewood and Los
S. & M. Transfer Co.
1.00
Angeles Transfer
2.82
Pacific Tel. & Tel. Co.
45.65
Southern California Edison
Co.59.57
4226.88
moved by Councilman Cannon, seconded by Councilman Love, that the
demands be allowed, and warrants drawn on and paid out of the respective
funds covering the same. Carried by the - following vote:
Ayes: Councilmen Cannon, Gerow, KrimmeL, Love and Binder.
Toes: Pone.
Absent: None.
ZME BUSI1.2SS.
�'he City Clerk presented to the Council a communication from the office
of the County Auditor of Los Angeles County, California, setting forth certain
segregations of property ag -.inst which special assessments have been levied,
for improvements within the said City, which segregations, the City Clerk
explained, differ from the original assessments as levied, and necessitate
a segregation of the original assessments, so as.to fit the.assessments
as spread upon the tax roll of the County. y'he City Clerk designated said
communication, for the purpose of identification and reference, as
communication Yo. C -101 from the office of the County Auditor of Los Angeles
County, California, in re segregation of various properties.
It was thereupon moved by Councilman Gerow, seconded by Councilman
Love, that the following resolution be adopted:
RESOLVD, that the City Clerk of .the .City of E1 Segundo,
California, be and he is hereby authorized and instructed to
examine communication ito. C -101, and if he finds said segre-
gations proper and not interfere with the security of the
holders of bonds which may have been issued for the various
improvements involved, that said Clerk notify said County
Auditor that said segregations, as so indicated, may be made,
and in such case, this Council does hereby acquiesce therein
and consent to the making thereof; provided, however, that
should said Clerk find that any modifications are necessary
in order to preserve the rights of either property owners or
the holders of bonds in the said matter, that he shall modify
his report and notification to said County Auditor accordingly,
-so as to protect the interest of said property owners and said
bond holders as far as possible, and that as so modified,
said list and report shall be and the same is hereby acquiesced
in and consented to by this Council.
Carried by the following vote:
Ayes: Councilmen Cannon, ".T'erow, Krimmel, Love and Binder.
.''oe s: None. Ab sent : None.
Xo further business appearing to be transacted, at this meeting, it
was moved by Councilman Cannon, seconded by Councilman Gerow, that the
meeting adjourn. Carried.
Respect ly subm' ed
Approved:
•5•.• City C1 rk.
I%yor. _