CC RESOLUTION 101RESOLUTION 90. 101
A RESOLUTION OF THE BOARD OF TRUSTEES
OF THE CITY OF EL SEGUNDO, CALIFORNIA,
ACCEPTING THE JOINT BID OF THE ANGLO
LONDON PARIS COMPANY AND HUNTER, DULIN
& COMPANY FOR $200,000 PAR VALUE OF THE
$375,000 PAR VALUE, CITY Ors EL SEGUNDO
SEWER BONDS, ELECTION 1925, AND AWARDING
SAID $200,000 PAR VALUE OF SAID BONDS TO
SAID JOINT BIDDERS.
WHEREAS, the Board of Trustees of the City of
El Segundo, County of Los Angeles, State of California,
at the regular meeting of said Board held on the 24th
day of July, 1925, adopted a resolution, being Resolu-
tion No. 98 of the said Board, directing that the City
Clerk publish by two insertions in the "El Segundo
Herald ", a weekly newspaper of general circulation,
published and circulated within said City of El Segundo,
a notice of sale of Two Hundred Thousand Dollars
(4200,000.00) par value of the Three Hundred Seventy-
five Thousand Dollars ($375,000.00) authorized Sewer
Bonds, Election 192b, of the said city of L1 Segundo;
which said notice was contained in said resolution and
was a part thereof; and
WHEREAS said notice was duly published by two
insertions in the said "E1 Segundo Herald," to wit: on
the 31st day of July, 1925 , and on the 7th day of August,
1925, in words and figures as follows:
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AND, WHEREAS, pursuant to said notice, eight
bids were received by the said City of E1 Segundo
prior to eight o'clock p.m. on Friday, the 14th
day of August, 1925; and
WHEREAS, said bids or proposals were opened by
the Board of Trustees of said city at eight o'clock
p.m. on said 14th day of August, 192b; and
i4HMEAS, said bids were in words and figures as
follows:
Bid of Anglo London Paris Company, Hunter,
Dulin & Company of San Francisco, California:
"August 10, 1925.
"Honorable Board of Trustees,
City of R1 Segundo,
California.
Gentlemen:
For 4200,000 par value sewer bonds, election
1925, of the City of El Segundo, California, we hereby
bid you par and accrued interest to date of delivery,
plus a premium of 03,037.00.
t
The bonds above bid for are more particularly
described as follows:
$200,000 par value sewer bonds, Election 1925,
of the City of E1 Segundo, California,.
dated July 2, 1925; of the denomination of
'01,000 each, bearing interest at the rate
of 5.00% per annum, payable semi - annually,
and maturing: $10,000 par value on July 2,
in each of the years 1926 to 1945, both
years inclusive.
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The above bid is made with the understanding
that if successful we shall be furnished free of
charge with a satisfactory opinion by Messrs O'Melveny,
Millikin, Tuller and 11se nail, attorneys -at -law, of
Los Angeles, California, approving the legality of the
above bonds in all respects.
Enclosed please find our cashier's check for
810,000, drawn on the Merchants' National Bank, Los
Angeles, California, which is to be returned to us in
the event this bid is not accepted.
Very truly yours,
ANGLO LONDON PARIS COMPANY
HUNTER, DULIN & COMPANY
ANGLO LONDON PARIS COMPANY
By C. W. Meyer,Representative "
(Bid accompanied by Cashier's check in the sum of
$10,000 drawn on the Merchants' National Bank of Los
Angeles, California, #213395, payable to the City
Treasurer of the City of E1 Segundo)
Bid of R. H. Moulton & Company, of Los
Angeles, California:
"August 14, 1925
"Board of Trustees,
City of E1 Segundo,
California.
Gentlemen:
For the $200,000 par value City of E1 Segundo
Sewer 6% Bonds, of the denomination of $1000 each,
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dated July 2, 1925, and maturing serially on July 2nd,
from 1926 to 1945 inclusive, in amounts as given in
your advertised Notice of Sale, interest payable semi-
annually on January and July 2nd, at the Treasury
in the City of El Segundo* California, we will pay you
$200,000, being the par value of said bonds, accrued
interest to date of delivery, together with a premium
of �21b0.00
This bid id made subject to immediate aocep-
tance, and with the understanding that upon delivery
you will furnish us with the approving opinion of
Messrs O'itelveny, Mdllikin, Tuller & Macnell, attorneys
of Los Angeles, 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 of Los
Angeles, for X10,000 being 576 of the amount of bonds
bid for, said check to be used in part payment for
the bonds when taken up by us, or to be returned
promptly in the event that we are not awarded the
bonds in accordance with the terms hereof,
Respectfully submitted,
R. H. MOULT ON & CONPANY
By R. H. Moulton
(Bid accompanied by cashier's check #406232, in the
sum of $10,000, drawn on the Security Trust & Savings
Bank, (Home Office), payable to the City Treasurer
of E1 Segundo, California)
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Bid of Dean, bitter & Co., of Los Angeles,
California.
"Board of Trustees,
E1 Segundo, Calif.
Gentlemen:
For
"August 14, 1925.
$200,000 City of E1 Segundo Sewer Bonds
in the denomination of $1,000 coupon bonds, bearing
interest at the rate of 5 per annum, payable semi-
annually, both principal and interest payable at the
office of the Treasurer of City of E1 Segundo, said
bonds bearing date of July 2, 1925, and maturing
thereafter from July 2, 1926, to July 2, 1945, inclu-
sive, as shown in your printed Notice of Sale, we
Gill pay you par and accrued interest to date of
delivery and in addition thereto a premium of Two
thousand seven hundred and eighty dollars.
As an evidence of good faith, we hand you
herewith certified check on the Security Trust &
Savings Bank, Los Angeles, for 4100000.00; said check
to be held by you and used in part payment for the
bonds when delivered to us, with the approving opinion
of O'L3elveny, LZillikin, Tuller & Macnell, Los Angeles,
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 Z "TITTER & CO.
By Guy Witter
BANK OF ITALY it
(Bid accompanied by certified check f383, in the sum
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of $10,000 drawn on Head Office, Security Trust &
Savings .Bank., payable to City Treasurer of E1 Segundo)
Bid of Citizens; National Company, of Los
Angeles, California.
"August 13„ 1925
"Board of Trustees,
E1 Segundo, California.
Gentlemen:
For $200,000 par value City of E1 Segundo
5% sewer bonds, dated July 2, 1925, of the denomina-
tion of $1,000 each, interest payable semi - annually,
maturing $10,000 each year July 2, 1926 to July 2,
1945, both inclusive, advertised to be sold August
14, 1925; we bid par, accrued interest to the date
of delivery, and a premium thereover of $1,140.00.
Enclosed is a cashier's check of the Citizens
National Bank, Los Angeles, in the sum of $10,000,
as evidence of good faith, same to be retained on
account of the purchase price in case this bid is
accepted, or returned at once in case this bid is
rejected.
This bid is made subject to immediate acceptawnce
and prompt delivery of the bonds,and to the further
condition that we be furnished, without cost to us,
the satisfactory approving opinion of 0111elveny,
Millikin, Tuller and Maeneil, covering the validity
of these bonds.
Respectfully submitted,
CITIZENS NATIONAL COMPANY
By H. M. Bateman "
(Bid accompanied by cashier's check #248523 in the sum
of $10,000, drawn on the Citizens' National
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Bank, payable to Treasurer of the City of El
Segundo)
Bid of R. E. Campbell & Company, of Los
Angeles, California:
"August 14, 1925.
"Hon. Board of Trustees,
City of E1 Segundo, California.
Gentlemen:
For your proposed 200,000 bib legally
issued sewer bonds, dated July 2, 1925, maturing
$10000 each year July 2, 1926, to July 2, 194b, in-
clusive, both principal and interest pa :cable at the
office of the City Treasurer of the City of E1
Segundo, denomination of $1,000, we will pay upon
delivery of bonds to us par and accrued interest,
and in addition thereto a premium of $1668.b0.
This bid is made subject to the legality
of the said bonds being approved by Zlessrs O'Melveny,
Millikin, Tuller and Macneil of Lou Angeles, we to be
furnished with the unqualified final approving opinion
of saidattorneys, together with complete certified
transcript of the record of all proceedings had by
the Board of Trustees of tihe City of Bl Segundo in
connection with these bonds.
Vie herewith enclose you our certified check
in the sum of $10,000 in accordance with your require-
ments, said check to be held by you pending the con-
summation of our purchase of these bonds in accordance
with this proposal.
R. E. CAMPBELL & CO22A.NY
By J. R. Sutherlin
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"The above proposal was this day accepted
at a legally held meeting of the Board of Trustees
on this day of August, 1925.
President
"Attest:
Clerk.
(Bid accompanied by certified check #1014, in the
sum of $10,000 drawn on Citizens' Trust & Savings
Bank, Los Angeles, payable to R. E. Campbell, and
endorsed gWable to City Treasurer, El Segundo,
California.)
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Bid of Wells Fargo Bank & Union Trust Co.,
and Heller, Bruce & Co., of San Francisco, California:
"August Fourteenth
1925.
"To the Honorable Board of Trustees .
of the City of E1 Segundo,
El Segundo, California.
Dear Sirs:
For all, but not for any part less than all,
of Two Hundred Thousand Dollars ($200,000) par value,
legally issued, sewer bonds, Election 1925, of the
City of El Segundo, California: being Two Hundred (200)
bonds of the denomination of One Thousand Dollars
(01000) each, dated July 2, 1925, and maturing:
X510,000 on the 2nd day of July, 1926, and a
like amount on each succeeding year to and
including July 2, 1945;
bearing interest at the rats of Five and one half
u
per cent (5) per annum, said interest payable
semi - annually on the 2nd day of January, and the 2nd
day of July of each year, we bid you the sum of par
and accrued interest to date of delivery, plus a
premium of One Thousand Dollars ($1000).
In accordance with your advertisenent, and
the terms of our bid, we enclose herewith cashier's
check of the Wells Fargo Bank & Union Trust Co., of
this city, in the amount of Ten Thousand Fifty
Dollars ($10,050.00); same to be applied against the
purchase price, in case we are awarded the bonds;
otherwise to be promptly returned to us.
In the event the bonds are awarded to us, we
are to receive a certified copy of approving opinion
of Tlessrs O'llelveny, ILtllikin, Tuller & Macneil,
of Los Angeles, California, as to the legalty of
these bonds, as advertised in your notice of sale.
Respectfully submitted,
WELLS FARGO BANK & UNION TRUST CO.
HELLER BRUCE & CO.
By HELLER, BRUCE & CO.,
Harry A. Bruce. "
(Bid accompanied by cashier's check #B5132 in the sum
of X10,050, drawn on Wells Fargo Bank 84 Union Trust
Co., and payable to the City Treasurer of the City
of Ll Segundo, California)
Bid of First National Bank of El Segundo,
E. H. ROL.LINS & SONS, 'NILLIAL, R. STAATS CO. and
CALIFORNIA SECURITIES CO., Los Angeles, California:
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,
"August 14, 1925.
"honorable Chairman of the
Board of Trustees,
E1 Segundo, California.
Bear Sir:
For J200,000 par value, all or none, sewer
bonds, election 1925, of the City of El Segundo,
California, to constitute direct, general obliga-
gations of said City, all of 01,000.00 denomination,
dated July 2nd, 1925, maturing -
$10,000 on the 2nd day of July, in each
of the years 1926 to 1945, inclusive,
bearing interest at the rate of five per cent (50)
per annum, interest being payable semi - annually on the
second day of January and the second day of July
of every year, both principal and interest being
payable at the office of the City Treasurer of the
City of El Segundo, California, we will pay you the
par value thereof and accrued interest to date of
delivery, and a premium of ytb55.5b.
This bid is made for prompt acceptance and
prompt delivery of the bonds to us, you agreeing to
furnish us prior to delivery the original favorable
legal opinion of Messrs O'hielveny, Millikin,Tuller
Alacneil of Los Angeles, satisfactorily evidencing
to us the legality of this issue.
As evidence of good faith, we enclose here-
with cashier's check on the First Rational Bank of
E1 Segundo, for ten thousand dollars -($10,000.00) -
payable to the order of the City Treasurer of El
Segundo, California, same to be retained by you as
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part payment in case the bonds are awarded to us,
otherwise to be promptly returned to us, or to our
representative at the sale.
Respectfully submitted,
FIRST I1ATIONAL BANK OF EL SEGUNDO,
H. ROLLINS & SONS
WILLIALS R. STAATS CO.
CALIFORNIA SECURITIES CO.
By E. R• Rollins & Sons,
F• B. Badgley. "
(Bid accompanied by cashier's check (2671, in the
sum of $10,000.00 drawn on the First National Bank of
El Segundo, California, and payable to Linta Curta-
wiler, City Treasurer)
Bid of the Security Company, of Los Angeles,
California:
"City Clerk "August 13, 1925
City Of E1 Segundo
California.
Dear Sir:
For the proposed issue of
$2000000 City of E1 Segundo Sewer Bonds
Election 1925
same being the direct obligations of the City of E1
Segundo, County of Los Angeles, State of California,
dated July 2, 1925, in the denomination of $1000 each,
bearing interest at the rate of five per cent (5 %)
Per annum, payable semi - annually, both principal and
interest payable at the office of the City Treasurer
Of the City of E1 Segundo, California, said bonds
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maturing X10,000 annually beginning July 2, 1926,
to and including July 2, 1945, we will pay par and
accrued interest to date of delivery, plus a premium
of $2,020.00.
The foregoing offer is made subject to your
furnishing us with the opinion of O'Melveny, Millikin,
Tuller and Aiacneil, of Los Angeles, California,
approving the validity of the bonds.
We enclose herewith cashier's check. of the
Security Trust & Savings Bank, Los Angeles, for
910,000.00, payable to the order of the City 'Treasurer
of the City of El Segundo, California, to be held
pending delivery of the bonds to us under the terms and
conditions set forth in your notice of sale, if this
bid is accepted, or to be returned to us promptly in
the event we are not awarded the bonds or said
attorneys refuse to approve the issue.
Respectfully submitted,
SECURITY COMPANY
George F. Martin, President.
(Bid accompanied by cashier's check 406105, dated
August 12, 1925, in the sum of $10,000, drawn on the
Head Office, Security Trust & Savings Bank, and
payable to the Treasurer of the City of E1 Segundo,
California.)
APIA, WHEREAS the said joint proposal of said
Anglo London Paris Co. and Hunter, Dulin and Company
is the highest and best bid received for the said
bonds offered; and
WHEREAS said joint proposal offering par plus
accrued interest to date of delivery and a premium of
Three Thousand and Thirty -seven Dollars ($3,037.00)
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in addition thereto, for the Two Hundred Thousand
Dollars ($200,000.00) par value of the Three
Hundred Seventy -five Thousand Dollars ($375,000.00)
par value, City of E1 Segundo Sewer Bonds, Election
1925, of the denomination of One Thousand Dollars
($1,000.00) each, dated July 2, 1925, maturing ten
of said bonds in each of the years 1926 to 1945, both
inclusive, drawing interest at the rate of five
per cent per annum, and being Sewer Bonds, Election
1925, of said city, is the best bid received for said
TM Hundred Thousand Dollars ($200,000.00) par value
of said Sewer Bonds, Election 1925, -
NOW, THEREFORE, BE IT RESOLVED, that the
said joint bid of Angle London Paris Company and Hunter
Dulin and Company, offering the sum of par, Two
Hundred Thousand Dollars ($200,000.00), plus accrued
interest to date of delivery, plus a premium of Three
Thousand and Thirty -seven Dollars ($3,037.00), for the
Two Hundred Thousand Dollars ($200,000.00) par value of the
Three Hundred a"eventy -five Thousand Dollars (1375,000.00)
par value, City of El Segundo Sewer Bonds, Election 1925,
of the denomination of One Thousand Dollars ($1,000.00)
each, dated July 2, 1925, numbered one to two hundred
both inclusive, maturing ten of said bonds in each of
the years 1926 to 1945, both inclusive, bearing
Interest at the rate of five per cent per annum,
payable semi - annually (being part of the authorized
issue of Three Hundred and Seventy -five Thousand Dollars
($375,000.00) Sewer Bonds, Election 1925, of the City
of E1 Segundo, California,) be, and the same is hereby
accepted by the City of E1 Segundo, California, and
that the said Two Hundred Thousand Dollars (,200,000.00)
par value Sewer Bonds, Election 1925, be, and the same
are hereby sold to said jotit bidders, Anglo London Paris
Company and Hunter, Dulin and Company, to be delivered
as soon as practicable after the lst day of September,
192b; and
BE IT FURTHER RESOLVED that said Board hereby
determines upon this method of selling said bonds,
hereby confirming the same, to said bidders; and
BE IT FURTHER RESOLVED that the City Clerk
be, and he is hereby instructed to enter this resolution
in the book of resolutions of the said City of Ll
Segundo, and make a minute of the passage and adoption
thereof in the minutes of the meeting of the Board of
Trustees of said city, at which the same is passed and
adopted.
Passed, approved and adopted this 14th day
of August, A.D. 192b.
President of the Board of Trustees
of the City of E1 Segundo, California.
EST
i
i y
(SEAL)
lb
STATE OF CALIFORNIA }
COUNTY OF LOS ANGELES ) SS.
)
CITY OF LL SEGUNDO }
I, VICTOR D. YoCART HY, City Clerk of the City
Of E1 Segundo, California, do hereby certify that the
foregoing resolution, being Resolution No. 101, was
duly passed, approved and adoptedby the Board of
Trustees of the City of El Negundo, California, approved
and signed by the president of said Board, and attested
by the City Clerk, all at a regular meeting of the
said Board, held on the 14th day of August, 1925, and
that the same was so passed and adopted by the
following vote:
AYES: Trustees Anderson, Cannon, Gerow, Love,Binder.
NOES: None
ABSENT: None
0
City Clerk of thd' City of � Segundo,
California.
(SEAL Os, T hE CITY
OF RL SEGUNDO)
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