CC RESOLUTION 172RF.SOLUTIOSI NO. 172
A RESOLUTION OF THE CITY COUNCIL (FORMERLY
BOARD OF TRUSTEES) OF THE CITY OF EL SEGUNDO,
CALIFORNIA, AWARDING TO THE UNITED STATES
NATIONAL BANK OF LOS ANGELES, CALIFORNIA,
$24,000.00 PAR VALUE WATER WORKS BONDS, EIRC-
TION 1922, OF THE CITY OF EL SEGUNDO, CALIFORNIA
WHEREAS, the City Council of the City of E1 Segundo,
California, has heretofore advertised for bids for $24,000.00
par value 'aster '"corks Bonds of ec.id city, Election 1922;
AND, WHEREAS, at the time for receiving said sealed
bids or proposals, eight bids were received therefor, to -wit:
The proposal of The United States National Bank
of Los Angeles, for $24,000.00 par value, plus accrued
interest to date of delivery, plus a premium thereover
of $1,878.00;
The proposal of the Elmer J. Kennedy Co., Los
Angeles, California, for $24,000.00,par value, plus
accrued interest to date of delivery, plus a premium
thereover of $1167.00;
The proposal of Freeman, Smith & Camp Co., for
$24,000.00 par value, plus accrued interest to date
of delivery, plus a premium thereover of $1,772.80;
The proposal of Bieg- Hoffine Company, Los Angeles,
for $24,000.00 par value, plus accrued interest to date
of delivery, plus a premium thereover of 4802.70;
The proposal of William R. Statts Co., Los Angeles,
for $24,000.00 par value, plus accrued interest to date
of delivery, plus a premium thereover of $1,771.00;
The proposal of R. H. Moulton & Company, Los
Angeles, for $24,000.00 par value, plus accrued inter-
est to date of delivery, plus a premium thereover of
$1,730.00;
The proposal of Dean Witter & Co., Los Angeles,
for $24,000.00 par value, plus accrued interest to
date of delivery, plus a premium thereover of $1,839.52:
And the proposal of Anglo London Paris Company,
Los _*ngeles, for $24,000.00 par value, plus accrued
interest to date of delivery, plus a premium thereover
of $1,822.00.
AND, WHEREAS, the proposal of The United States
National Bank of Los Angeles. California, is the highest and
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best bid reoeived =or said bonds offered;
NOW, THEREFORE, BE IT RESOLVED, that the bid of
said The United States National Bank of Los Angeles, Cali-
fornia, offering the sum of par $24,000.00, plus accrued
interest to date of delivery, plus a premium thersower of
the eum of $1,878.00 for the $249000.00 par value of the
$200,000.00 par value City of E1 Segundo Water Works Bonds,
Election 1922, of the denomination of $1,00000 each, dated
January 2, 1923, said bonds representing said $24,000.00 par
value being numbered from 161 to 1840 both inclusive, and
maturing eight thereof, to -wit, bonds numbers 161, 1620 163,
1649 165, 1669 167 and 168, inclusive, on the End day of
January, 1951; eight thereof, to -wit, bonds numbers 169,
170, 171, 1720 173, 174, 175 and 176, inclusive, on the 2nd
day of January, 1952; and eight thereof, to-wit, bonds
numbers 177, 178, 179, 1809 181, 182, 183 and 184, inclusive,
on the 2nd day of January, 1953; bearing interest at the
rate of five per cent (5 %) per annum, payable semi - annually,
(being part of the authorized issue of $200,000.00 Water Works
Bonds, Election 1922 of the City of El Segundo, California),
be and the sa'e is hereby accepted by the City of E1 Segundo,
California, and that all other bids received for said bonds,
excepting the bid of said The United States National Bank of
Los Angeles, California, shall be and the same are hereby re-
jeatmd, and that the said $249000.00 par value, Water Works
Bonds, Election 1922 of the said city, be and the same are
hereby awarded and sold to said bidder, The United States
National Bank of Los Angeles, California, at the price of par
( $24,000.00) and accrued interest to date of delivery, plus a
premium thereover of $1,878.00, said bonds to be delivered
as soon as practicable,
AND, BE IT FURTHER RESOLVED, that the City Council
of the said city does hereby determine that said $240000.00
par value of said bonds shall be sold to said The United States
National Bank of Los Angeles, in the manner and at the price
as hereinabove set forth, and said Council does hereby con-
firm the said sale in the manner herein set fortk,
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AND, BE IT FURTHER RESOLVED, that the City Clerk
is hereby authorized and instructed to return the checks
Of all unsuccessful bidders;
AND, BE IT FURTHER RESOLVED, that the City Clerk
be and he is hereby authorized and instructed to enter this
resolution in the Book of Resolutions of the said City of
E1 Segundo, and make a minute of the passage and adoption
thereof in the minutes of the meeting of the City Council
of said city €.t which the same is passed and adopted.
Passed, approved and adopted this 8th day of
September, A. D., 1927.
Mayor of the City of E1 Segundo,
Cali fo mia.
ATYEST:
(SEAL)
STATE OF CALIFORNIA, )
COUNTY OF LOS ANGELES, ,) SS.
CITY OF EL SEGUNDO. )
I, VICTOR D. MC CARTHY, City Clerk of the City
of E1 Segundo, California, do hereby certify that the whole
number of members of the City Council of said city is five;
that the foregoing resolution, being Resolution No. 172, was
duly pass ®d and adopted by said Council, signed by the Mayor
of said City and attested by the City Clerk thereof, all at
an adjourned regular meeting of the said Council held on
Thursday, the 8th day of September, 1927, and that the same
was passed by the following vote, to -wit:
AYES: COUNCILMEN Cannon, Gero w, Krimmel, Love and Binder;
NOES: COUNCILMEN None;
ABSENT :COUNCILMEN None.
(SEAL)
1177,
KM