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CC RESOLUTION 285RESOLUTION NO. 285P A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF EL SEGUNDO, CALIFORNIA, DECLAR- ING ITS INTENTION TO SELL $45,000 *00 OF BONDS DESIGNATED AS "BONDS OF ACT OF 1927 MUNICIPAL IMPROVEMENT DISTRICT NO. 1 OF THE CITY OF EL SEGUNDO." WHEREAS, by ordinames heretofore adopted bonds of Act of 1927 Municipal Improvement District No. 1 of the City of El Segundo have been ordered issued; and WHEREAS, it is deemed necessary and advisable that the said city sell and dispose of .45,000.00 of said bonds; NOW, THEREFORE, IT IS HEREBY RESOLVED, DETERMINED AND ORDERED by the City Council of the City of El Segundo as follows: Section 1. That bonds of Act of 1927 Municipal Improvement District No. 1 of the City of E1 Segundo be sold at public sale on September 13th , 1933, at the hour of 7:30 o'clock P. M., and that bids be called for, each bidder to state the rate of interest not exceeding 6% per annum, payable semi - annually, at which he proposes to purchase said bonds. Section 2. That the City Clerk of the City of El Segundo be, and he is hereby directed to publish a notice inviting sealed proposals, once in the El Segundo Herald, 1- I 'f Ue3 a weekly newspaper of general circulation printed, published and circulated in said City of El Segundo. Said notice shall be substantially in the following form, to -wit: "NOTICE INVITING SEALED PROPOSALS FOR PURCHASE OF $450000.00 OF BONDS OF ACT OF 1927 MUNICIPAL IMPROVEM&T DISTRICT NO. 1 OF THE CITY OF EL SEGUNDO. Sealed proposals will be received by the undersigned City Clerk of the City of El Segundo, State of California, at the office of said City Clerk in the City Hall in the City of E1 Segundo, Califo =is, until the hour of 7 :3? o'clock P. M. on the 13th day of September, 1933, for the pur- chase of $45,000.00 of bonds of Act of 1927 Munici- pal Improvement District No. 1 of the City of El Segundo. Said bonds will be 45 in number, of the denomination of X1,000.00 each and dated November 18, 1931. Said bonds so do be sold shall mature as fol to vas : 2- maturities: 3 bonds of each November 18, 1936 3 bonds of 41,000 1,000 each November 189 1937 3 bonds of X1,000 each November 180 1938 3 bonds of Z 000 each November 18, 1939 3 bonds of F:000 each November 18, 1940 3 bonds of ,000 each November 18, 1941 3 bonds of ilqOOO each November 18, 1942 3 bonds of 1,000 each November 189 1943 3 bonds of 1,000 each November 18, 1944 3 bonds of °1,000 each November 18, 1945 3 bonds of 1,000 each November 18, 1946 3 bonds of 11,000 each November 18, 1947 3 bonds of 0ljOOO each November 18, 1948 3 bonds of 1,000 each November 189 1949 3 bonds of 11,000 each November 18, 1950 2- Said bonds shall bear interest at a rate not ex- ceeding six per cent (6;1) per annum, payable semi- annually, as shall hereafter be fiaced by resolution of the City Council, sad bidders are requested to state the interest rate upon which the bid is made. Said bonds are issued pursuant to an act entitled 'An act to provide for the fozmation of districts within municipalities for the acquisition or con- struction of public improvements, works and public utilities; for the issuance, sale and payment of bonds of such districts to meet, the costs of such improvements, and for the acquisition or con- struction of such improvements,' approved may 24, 1927, as amended. Each proposal must be accompanied by a cer- tified check drawn upon some responsible bank of the State of California and payable to the City Treasurer of the City of E1 Segundo in the sum of three per cent (3%) of the amount of bonds bid upon as a guarantee that the bidder will purchase and pay for said bonds in accordance with his proposal in the event that such bid is accepted. The City Council of the City of E1 Segundo reserves the right to reject any and all bids. The City of El Segundo will furnish at its omn expense the opinion of Messrs. O'Melveny, Tuller & Myers, attorneys, as to the validity of said bonds. By order of said City Council of the City of E1 Segundo. City Clerk of the City of E1 Segundo." Fa Section 3. That the City Clerk shall certify to the passage and adoption of this resolution, shall cause the same to be entered in the book of resolutions of the City of El Segundo, and shall make a minute of the passage and adoption thereof in the minutes of the meeting of said Council of said City at which the same is passed and adopted. PASSED, APPROVED AND ADOPTED this 30th day of August, 1933. MAYOR 0 E CITY OF EL BSTM 09 CALIFORNIA. ATTEST: v City Clerk 4- g,I � a STATE OF CALIFORNIA ) COUNTY OF LOS ANGEL: S CITY OF EL SEGUNDO ) t'(�,� I, Victor D. McCarthy, City Clerk of the City of El Segundo, do hereby certify that the vhole number of members of the City Council of the City of E1 Segundo is five; that the foregoing resolution, being ?resolution No. 285 , was duly passed, approved and adopted by said City Council and sigied by the Mayor and attested by the City Clerk all at a regular meeting of said Council held on the 30th day of August, 1933, and that the same was passed and adopted by the following vote, to -wit: AYES: Count ilmen Gerow, Krimel, Love and Neyor Binder NOES: Councilmen None ABSENT: Councilmen Selby �UIZY Ulerk Of e of,,Zl egun , California. 5 -.