CC RESOLUTION 50RESOMTION NO. 50
;i1C ,1 1" l e OF Y :IC BOARD :fl i f THUS OF TIM
CITY OP ZL 'i: 1 i 1 i ULMPMNU, DIMMING THE
CITY OIERK OF SAID CITY TO ADVERTISE FOR PRO-
POSLLS FOR T13E PURCHA OF $250,000.00 PAR
` III: XMICIPAL I1MOVMMT : • CPS OF SAID
The Board of Trustees of the City of E1 Segundo,
California do resolve, declare and determine as follows:
Section 1. That the City Clerk of the City of
E1 Segundo, California be, and he is hereby directed to
publish by one insertion in the El Segundo Herald, a weekly
newspaper of general ciroulation,�pnb ished and circulated
in said city of El Segundo, California, a notice inviting
sealed proposals to purchase certain municipal improvement
bonds of the City of E1 Segundo, Califbrnia, election 1922,
whioh said notice shall be substantially in the fbllowing
form:
"NOTICE OF SAM OF MNICIEU IWROVMW BANDS
OF TIM CITY OF SL SEGMWO, CALIFORNIA, Z3ZC-
TION 1922.
Notice is hereby given that pursuant to Resolution
No. 500 the Board of Trustees of the City of E1 Segundo,
California, will receive sealed bids or proposals until
the hour of 8:00 o'clock P. IL of Tuesday, the 3rd day
of April, 1923, to_parohase the following municipal im-
provement bonds, election 1922, of the City of E1
Segundo, California, to -wit:
Water Works Bonds, Eleotion 1922, in the sum of
One Hundred Fifty Thousand Dollars ($150,000.00); said
Water Works Bonds offered for sale are dated the 2nd
day of January, 1923; are numbered from 1 to 150 both
Inclusive; are of the denomination of One Thousand Dol-
lars ($1,000.00) each, and bear interest at the rate of
"- five per cent (5%,) per annum, payable semi - annually, an
the 2nd day of January and on the 2nd day of July of
every year, both principal and interest being payable in
lswttl money of the United States of America, at the
office of the Treasurer of the City of E1 Segundo, Cali-
fornia; are part of an issue of Two Hundred Thousand
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Dollars ($200,000.00), par value, for Water Works
improvement, authorized at a special election, held
In said City of M1 Segundo, Cali>ornia, on the 21st
day of August, 19229 and directed to be issued by
Ordinance No. 92 of the City of El Segundo, Califor-
nia, to which ordinanos reference is hereby had for
farther particulars. Six of said bonds offered for
was hereunder mature on the 2nd day of January,
1928, six thereof on the 2nd day of January, 1929
and six thereof on the 2nd dsy of January of each
and every year thereafter until and including the
seed day of January, 1952*
No proposal for the purohase of said bonds, or
any of them, at a price less than their par value,
plus interest accrued to the date of their delivery
will be considered, and all proposals submitted wiii
be construed to mean the per value of said bands plus
interest accrued to the date of delivery, in addition
to the premium offered whether said proposal sets
forth the same explicitly or not. No proposal for
less than the full vamber of bonds offered for sale,
or f f April, p,13theproviding ofateerthan the payment day o 1929 will
be considered.
The bonds offered for sale will be ready for de-
livery on or about the 15th day of April, 19259 and
will be delivered at the office of the Treasurer of
the City of E1 Segundo, Califo mis, or at any place
designated in any proposal that may be accepted, upon
payment in advance by the bidder, of all expenses
necessary to make delivery at such designated place,
and to transfer the purchase price to the Treasurer
of the City of E1 Segundo, thereby making delivery
and payment at such place equivalent to delivery and
payment at the office of the Treasurer of the City of
81 Segundo.
Each bid shall be s000mpanied by certified check
or bank draft drawn on a solvent bank of Los Angeles
County, payabis to the City Treasurer of the City of
E1 Segundo, for an amount equal to at least five per
cent (5%) of such proposal, as a guarantee that the
bidder will purchase and pay for said bonds in accord -
anoe with this Notice of Sale and the proposal of such
bidder in event such proposal be accepted.
A certified copy of an opinion of Bordwell &
Mathews of Los Angeles, California, special bond attor-
neys, approving the validity of the bonds offered for
sale, will be furnished by the City of E1 Segundo to
the successful bidder.
The Board of Trustees of the City of 31 Segundo
reserves the right to reject any and all bids or pro-
posals received.
By order of the Board of Trustees of the City of
L1 Segundo, California, made at a regular meeting of
said Board, held on the /2Cth day of March, 1923.
UITY Ulert MCI a o, o e
of the Board of Trustees of e
City of E1 Segundo, Califor a. "
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Section 2. That said Water Works Bonds, ralection
1922, shall bear interest at the rate of five per cent (6%)
per annum, said interest to be payable as set forth in said
notice semi - annually on the 2nd day of July and on the god
day of Jamxery of each and every year until said bonds are
paid.
Section 3. The City Clerk shall certify to the
passage and adoption of this resolution, shall enter the
same in the Book of Resolutions of the said City of Bl
Segundo affi shall make a minute of the passage " adoption
thereof in the record of the proceedings of the meeting at
which the same is passed and adopted.
Passed, approved and adopted this 2 0'z day of
March, A. D. 1923.
ran,
President of the Board `of Trustees of the
City of El Segundo, Californiae
(SEAL)
M
STATE OF CATZIOMIA )
)
COUNTY OF LOS ANGELES ) SS
CITY OF EL SEGUNDO )
I. VICTOR D. MC CARTHY, City Olerk of the City
of 31 Segundo, California, and ex- offioio Clerk of the
Board of Trustees of said city, to hereby certify that the
whole number of members of the Board of Trvatees of the said
City of M1 Segundo is five, and that the foregoing resolu-
tion, being Resolution No* 50, was duly passed and adopted
by the said Board of Trustees, signed by the President of
said Board, and attested by the City Clerk of said city,
all at a regular meeting of the said Board held on Tuesday
the 20th day of March, A.D. 1923, and that the same was
passed, by a vote of more than two - thirds of all of The
members of said Board of Trustees, the vote on the passage
and adoption of said resolution being as follows:
a: TRMTEES None.
a
SE f' :MGIC Davis.
a
City Clerk of the dity o "gando,
Cali:ibmis. - --
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