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 -.