CC RESOLUTION 286li B��I✓
RESOLUTION NO, 286
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF EL SEGUNDO, CALIFOR1IA, AWARDING AND
SELLING TO 13SLIE H. TARR T13 $45,000000
PAR VALUE BONDS OF ACT OF 1927 MUNICIPAL IMPROVE-
MENT DISTRICT NO. 1 OF THE CITY OF EL SEGUIdDO,
AND FIXING AND DETEMvIINING THE RATE OF INTEREST
TO BE PAID TH31REON.
The City Council of the City of E1 Segundo,
California, does resolve, declare and determine as follows:
SECTION 1, That the bid of Leslie R. Tarr
for Forty -Five Thousand Dollars
of Aot of 1927 Municipal Improv4
City of El Segundo, California,
this Council on the 13th day of
being the only bid received for
follows:
n
(745,000.00) par value bonds
ament District No. 1 of the
presented to and filed with
September, A.D., 1933, and
said bonds, reading as
September 13, 1933
City Clerk, City of E1 Segundo,
E1 Segundo, California.
Dear Sir:
I hereby submit the following proposal for the
purchase by me of $45,000 of bonds of the Act of
1927 Municipal Improvement District No. 1, of the
City of E1 Segundo.
I will pay par for said bonds and hereby re-
quest that the City Council fix a rate of six per cent.
par annum as the rate said bonds shall bear interest,
which rate is the rate upon which this bid is
made.
Enclosed herewith is my certified check in the sum
of "1,350.00, being three per cent of the amount of
the bonds bid upon, as a guarantee that I will purchase
1-
and pay for said bonds in accordance with this
proposal in the event said bid is accepted, legal
opinion by O'Melveny, Taller & Myers at city's
expense.
Yours very truly,
L'.SLIE R. TA3R."
and which said bid said Council hereby finds and determines
to be for par, to -wit: $45,000,00 plus accrued interest
to date of delivery of such bonds, at the rate of six per
cent per annum, be, and the same is hereby accepted, and said
bonds are hereby awarded and sold to said bidder, Leslie R. Tarr,
at the price bid therefor, determined by this Council to be
as follows, to -wit:
For the Forty -five Thousand Dollars (045,000.00)
par value bonds of Act of 1927 Liunicipal Improvement District
No. 1 of the City of E1 Segundo, California, hereinafter
described and referred to, the sum of par (045,000.00)
plus accrued interest to date of delivery at the rate of
six per cent (6 %) per annum.
A particular description of the said bonds of
said issue hereby awarded and sold, and which said bonds
are in the denomination of One Thousand Dollars (1,000.00)
each, is as follows, to-wit:
Bonds Nos. 1,
Bonds N os.,ll,
Bonds Nos, 21,
Bonds Nos, 31,
Bonds Jos. 41,
Bonds Nos. 51,
Bonds Nos. 61,
Bonds Nos. 71,
Bonds Nos. 81,
2, a
12,
22,
32,
42,
52,
62,
72,
82,
ad 3
and
and
and
and
and
and
and
and
maturing November 18
13, maturing ilovember
23, maturing November
33, maturing November
43, maturing November
53, maturing November
63, maturing November
73, maturing ilovember
83, maturing November
2-
1936;
18, 1937;
18, 1938;
18, 1939;
18, 1940;
18, 1941;
18, 1942;
18, 1943;
18, 1944;
Bonds Nos. 91,
Bonds Nos. 101,
Bonds Nos, 111,
Bonds Nos. 1219
Bonds Nos. 131,
Bonds Nos, 141,
92, a
102,
112,
122,
132,
142,
ad 9:
and
and
and
and
and
1111
5, maturing November 18, 1945;
103, maturing November 18, 1946;
113, maturin- November 18, 1947;
123, maturing November 18, 1948;
133, maturing November 18, 1949;
143, maturing November 18, 1950.
For a further description of said bonds, reference
is hereby made to Ordinance No. 181 of the City of E1 Segundo,
California, entitled:
"AN ORDINANCE PRESCRIBING THE FORM OF THE
BONDS AND CDTJ20113 AND PROVIDING FOR THE ISSU-
ANCE OF $146,816.00 BONDS OF ACT OF 1927 MUINI-
CIPAL IM'ROV.I 13NT DISTRICT N0, 1 OF THE CITY
OF EL SEGUNDO, AUTHORIZED BY THE VOTERS OF
SAID DISTRICT AT A SPECIAL ELECTION HELD OCTO-
BER 29v 1931, FOR THE PURPOSE OF PAYING A PART
OF THE COSTS AND EXPENSES OF ACQUIRING LANDS,
RIGHTS OF WAY AND EAS311ENTS NECESSARY IN ORDER
TO WIDEN AND EXPEND THAT CERTAIN PUBLIC STREET
CObMONLY KNOWN AS ARIZONA DRIVE BET'dJEEN COLLING-
WOOD .AVENUE (ALSO KNOWN AS II +IPE:3IAL HIGHWAY) AND
ROSECRANS AVENUE NITHIN SAID Iva)NICIPAL IMPROVE -
MENT DISTRICT AIM THE I1;12HOV31,1BNT OF SAID STREET
BY THE CONSTRUCTION AND COMPLETION UPON SAID
STREET, AS THE SAISE Iv,AY EXIST AFTER IT IS WIDENED
AND EXTENDED, OF CE1I1:T CONCRETE CURBS AND GUT -
TERS AND OF AN ASPHALTIC PAVE12NT FORTY FEET IN
WIDTH ON A PORTION OF SAID STR~`.ET AND T11 IM-
PROV 1 T 7IITH OIL 0:3 OIL ilkCADAr,i OF OTHER PORTIONS
OF THE ROADWAY OF SAID STREET AND THE CONSTRUCTION
OF APPURTENA:CES NECESSARY AND/OR CONVENIENT TO
SAID I10ROVEILEIT."
as amended by Ordinance No. 186 of said City, entitled:
"AN ORDINA:, (E A,,3NDING SECTION 1 OF ORDINAINCE
N0, 181 OF THE CITY OF EL SEGUNDO ENTITLED:
'AN ORDINATCE PRESCRIBING TH] FORM OF THE
BONDS ATM COUPONS AND PROVIDI.TG FOR THE ISSU-
ANCE OF $146,816.00 BONDS OF ACT OF 1927 MUNI-
CIPAL I1v'PROV211ENT DISTRICT NO. 1 OF THE CITY
OF EL SEGUNDO, AUTHORIZED BY TIM VOTERS OF
SAID DISTRICT AT A SPECIAL ELECTION 3ELD OCTO-
BER 29, 1931, FOR THE PURPOSE OF PAYING A PART
OF THE COSTS AND EXPENSES OF ACQUIRING LANDS,
RIGHTS OF 1,11AY AIM EAS:1ISENTS NECESSARY IN ORDER
TO WIDEN AND EXTEND THAT CERTAIN PUBLIC STREET
CODIMONLY KNO,iN AS ARIZONA DRIVE BET11EEN COLLING-
WOOD AVENUE (ALSO KNOWN AS IMPERIAL HIGHWAY) AND
ROSECRATIS AVENUE ,, +IITHIN SAID LIUNICIPAL IhIPROVE-
NENT DISTRICT AND THE IIIPROVEUv ;NT OF SAID STREET
BY THE CONSTRUCTION AND COIJPLETION UPON SAID
STREET, AS THE ShIIE IYIAY EXIST AFTER IT IS WIDENED
3-
AND EXTENDED, OF OEM= CONCRETE CURBS AND GUT-
TERS AND OF AN ASPHALTIC PAVEISENT FORTY FEET IN
WIDTH ON A PORTION OF SAID STREET AND THE IM-
PROVEN%11T '+KITH OIL OR OIL I.'IACADAM OF OTHER POR-
TIONS OF THE ROADWAY OF SAID STREET AND THE CON-
STRUCTION OF APPURTENA_,dCES NECESSARY AND/OR CON -
VENIENT TO SAID L.IPROV ^DINT.'
for all further particulars, both of which said ordinances
are now on file in the office of the City Clerk of said city
and open to public inspection, and both of said ordinaim es
being by this reference incorporated herein and made a
part hereof.
SECTION 2. That pursuant to tna authority vested
in the City Council of said City so to do, and the reservation
made to that effect in said Ordinance No. 1B1, as amended
by said Ordinance No. 186; above referred to, the rate of
interest to be paid on the said $45,000.00 par value of
bonds of Act of 1927 Municipal Improvement District No. 1
of the City of E1 Segundo, California, hereinabove described
and referred to, shall be aid the same is hereby fixed and
determined at six per cent (60) per annum payable semi-
annually on the 18th day of May and on the 18th day of
November of each year.
SECTIO_S 3. That the Mayor, City Clerk, and
City Treasurer of said city, are hereby authorized and in-
structed to make delivery of said bonds in the manner
provided by law, and to receive and receipt for the
proceeds thereof as contemplated by law, in order to con-
summate the transaction of the sale of said bonds, as pro-
vided in this resolution of award.
SECTION 4. The City Clerk shall certify to the
passage and adoption of this resolution; shall cause the
4-
Same to be entered in the Book of Resolutions of the
said city, anal shall make a minute of the passage and
adoption thereof in the records of the proceedings of the
City Council of said city in the minutes of the meeting
at which the same is passed and adopted.
Passed, approved and adopted this 14th day of
September, A. D., 1933.
Mayor of a 2oT --
El Segundo, California.
(SEAL)
5-
ill -.1
STATE OF CALIFORNIA )
i
COUNTY OF LOS AN;sLES ) SS.
CITY OF EL SEGUNDO )
I, Victor D. McCarthy, City Clerk of
the City of E1 Segundo, California, do hereby certify
that the whole number of members of the City Council
of the said City is five; that the foregoing resolution,
being Resolution No. 286, was passed and adopted by said
Council, approved and signed by the Mayor of said City,
and attested by the City Clerk of said City, all at an
adjourned regular meeting of the said Council held on the
14th day of September, A. D., 1933, and that the same was
so passed and adopted by the following vote, to -wit:
AYES. Councilmen _Irimmel, Love and Mayor Binder;
NOES: Councilmen Gerow ;
ABSENT: Councilmen Selby.
(SEAL)
City Clerk of the City
El Segundo, California
GM
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