CC RESOLUTION 309I�i()
RESOLUTION N0, 309
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF EL SEGUNDO, CALIFORNIA,
AWARDING AND SELLING TO A. S. GOUGH,
'5,000.00 PAR VALUE BONDS OF ACT OF
1927 ISUNICIPAL INIPROVzOVIEITT DISTRICT
NO. 1 OF THE CITY OF EL SEGUnTDO, AND
FIXING AND DETER-.111ING THE RATE OF
TIMEEST TO BE PAID THEREON.
The City Council of the City of El Segundo,
California, does resolve, declare and determine as
follows:
SECTION 1. That the bid of A. S. Gough,
for live Thousand Dollars (,'?5,000.00) par value bonds
of Act of 1927 11unicipal Improvement District 1:o. 1 of
the City of E1 Segundo, California, presented to and
filed with this Council on the 3rd day of October,
A. D., 1934, and be in.p the only bid received for said
bonds, reading as follows:
"Los Angeles, California,
October 2, 1934.
To the Honorable City Council
and to the City Clerk of the
City of El Segundo,
31 Segundo, Califo mia.
Gentlemen: -
I hereby submit the following proposal
for the purchase by me of x;5,000 of bonds of the
Act of 1927 Liunicipal Improvement District Ito. 1
of the City of El Segundo, California, being the
following bonds of said district, to-wit-
1-
Bond No. 4 for e "1,000 maturing November 18, 1936
Bond I;o. 14 for ;1,000 maturing November 18, 1937
Bond No. 24 for 31,000 maturing November 18, 1938
Bond 1.1o. 34 for ?1,000 maturing November 18, 1939
Bond Ito. 44 for Y"1,000 maturing November 18, 1940.
I will pay for said bonds, par plus
accrued interest to date of delivery,
said bonds to bear interest at the rate
of 6;5 per annum, payable semi - annually,
which rate is the rate upon which this
bid is made.
Enclosed herewith is my certified check
in the sum of ' }150.00, being 3,0 of the amount of
the bonds bid upon, as a guarantee that I will
purchase and pay for said 'ponds in accordance with
this proposal, in the event said bid is accepted,
and legal opinion by O'I,telveny, Tuller 2: Myers is
furnished at City's expense.
Yours very truly,
A. S. GOUGH."
and which said bid said Council hereby finds and de-
termines to be for par, to -wit: X5,000.00 plus accrued
interest to date of delivery of such bends, at the rate
of six per cent per annum, payable semi - annually, be,
and the same is hereby accepted, and said bonds are hereby
awarded and sold to said bidder, A. S. Gough, at the
price bid therefor, determined by this "ouncil to be
as follows, to -wit:
For the live Thousand Dollars (;5, 000.00) par
value bonds of Act of 1927 1,unicipal Improvement District
No. 1 of the City of El Segundo, California, hereinafter
described and referred to, the sum of par ( ")6,000.00)
plus accrued interest to &a-5e of delivery at the rate of
six per cent (6;j) per annum.
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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 follovs, to -wit:
3ond No. 4 maturing November 18, 1936;
Bond No. 14 maturing November 18, 1937;
Bond Iio. 24 maturing November 18, 1938;
Bond No. 34 maturin6 November 18, 1939;
Bond I;o. 44 maturing November 18, 1940.
For further description of said bonds,
reference is hereby made to Ordinance 1,1o. 181 of the
City of El Segundo, "alifornia, entitled:
"All ORDINANCE PRESCRIBING THE 2ORM OF
THE BONDS AND COUPONS AND PROVIDING
FOR THE ISSUANCE OF `p146,816.00 BONDS
OF ACT OF 1927 Li NICIPAL IMPRIVEMITT
DISTRICT NO. 1 OF THE CITY OF EL
SEGUNDO, AUTHORIZED 3Y THE VOTERS
OF SAID DISTRICT AT A SPECIAL ELEC-
TION HELD OCTOBER 29, 1931, FOR THE
PURPOSE 02 PAYING A PART OF THE 0082S
AND EXPENSES OF AC ;UIRING LAIMS, RIGHTS
03' V4Y AIM EASLUENTS NECESSARY IN 01MER
TO WIDEN AND EXTEND THAT CERTAIIT
% PUBLIC
aT EE'P COI,--,,:OTdLY I1SOloTd Aa sRIZOlA DRIVE 13E�1,,E_11,
3-
J`
COLLINGIa00D AVENUE (ALSO 12TOWN AS IMPMIAL
HI GHi'JAY) AND RO SE CRANS AVENUE , JTH IN SAID
MUNICIPAL ILIPROVEI&�IIT DISTRICT AIM THE III -
PROVELTZ_�a OF SAID STREET BY TIC, COIISTRLCTIOIT
AND 0011PLETION UPON SAID STREET, AS THE SALE
MAY EXIST AFTER IT IS LIDEIIED AND EXTEEDED,
Or CEIIENT CONCRETE CURBS AI) GUTTERS AND OF
AN ASPHALTIC PAVELMET FORTY FEET IN WIDTH
ON A PORTION 01' SAID STREET AND THE IMPROVE -
LIENT WITH OIL OR OIL LIACADALI OF OTID.R
PORTIONS OF THE, ROADWAY OF SAID STREET AIM
THE CONSTRUCTION OF APPURTENANCES NECESSARY
AND /OR C01I7ENIENT TO SAID ILIPROVELI JT. "
as amended by Ordinance No. 186 of said City, entitled:
"All ORDINANCE ALI.rI.IDING SECTION 1 OF ORDINANCE
NO. 181 OF TD CITY OE" EL SEGUNDO ENTITLED:
'AI1 ORDINANCE PKISCRIBING TH& FORD, OF THE
BONDS ATMs COUPONS AND PROVIDING FOR ITTE,
ISSUANCE OF 01460816.00 BONDS OF ACT OF 1927
14UNIOIPAL ILTPROVE.MENT DISTRICT I0. 1 OF THE
CITY OF EL SEGUNDO, AUTHORIZED 3Y THE VOTERS
OF SAID DISTRICT AT A SPECIAL ELECTION HELD
OCTOBR 29, 1931, 'OR -THE, PURPOSE OF PAYIIIG
A PART OF THE COSTS AIM EXPENSES OF AC,,UIRING
LAIMS, RIGHTS OF WAY AIM EASEL�IITS NECESSARY
IN CRDE3 TO WIDEN AIM EXTr'.T1D THAT CERTAIN
PUBLIC STREET 001,17ONLY BNOI.0 AS ARIZONA DRIVE
BET4EEN COLLINGI70CD AVr.NLL] (ALSO YNO -5 AS
IMPERIAL 11IGH4AY) _UD ROSECRANS :VENUE 7TTHIN
SAID ILIUNIGIFAL ILIPROVEIZE NT DISTRICT AIM 7a
II.;PROVELIMirl" ^F SAID S`1_1= 3Y '!M CONSTRUC.'TION
AND 00HPLETIOTI UPON SAID STREET, AS THE SALIE
MAY EXIST AFTER IT IS Ii DEYED AND EXTENDED,
01' CELlLIIT CONCRETE CURBS AIM GUTTERS AND 01
AN ASPHALTIC PAVi1LENT FORTY FEET ITT WIDTH ON
A PORTION OF SAID STREET AND THS IMPROVEMNT
WITH OIL OR OIL MACADAM OF OTHER PORTIONS OF
THE. ROADViAY OF SAID STREET AIM THZ COIISTRUC-
TION 0_�' APPURTENANCES IIECESSARY AND /OR
COIIVENIENT TO SAID IMPROVETHELIT.'"
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
ordinances being by this reference incorporated herein
and made a part hereof.
SECTION 2. That pursuant to the authority vested
in the City Council of said City so to do, and the reserva-
tion made to that effect in said Ordinance No. 181, as
amended by said Ordinance No. 186, above referred to, the
rate of interest to be paid on the said ,5,000.00 par value
of bonds of Act of 1927 Municipal Improvement District TIo. 1
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of the City of El Segundo, California, hereinabove
described and referred to, shall be and the same is
hereby fixed and determined at six per cent (613) per
annum payable semi - annually on the 18th day of Iriay and
on the 18th day of November of each year.
SECTION 3. That the I>iayor, City Clerk and
City Treasurer of said City are hereby authorized and
instructed to make delivery of said bonds in the mariner
provided by law, and to receive and receipt for the pro-
ceeds thereof as contemplated by law, in order to
consummate the transaction of the sale of said bonds,
as provided in this resolution of award.
SECTION 4. 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 s aid City, and 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 3rd day
of October, A. D., 1934.
ATTEST:
City Clerk
(SEAL
U. _ o zle
Mayor of the City of
L1 Segundo, California.
me
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Ft
STkTN OF CALIFORNIA, )
COUNTY OF LOS ANGEL..C, ) SS.
CITY OF EL SEGUNDO. )
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I, Victor D. McCarthy, City Jlerk of
the City of El Segundo, California, do hereby certify
that the whole number of members of the City Council of
the said City is five; that the foregoinZ resoluticn,
bein,; Resolution No. ^309 , was passed and adopted by
the said Counc t1, approved and signed by the Mayor of
said City and attested by the City . ".lerk of said City,
all at
a regular meeting of the
said
Jouncil held on
the thi
t day of October, e.
D.,
1934, and that
the same was so passed and adopted by the following vote;
to -wit:
Ayes: Councilmen Hesser, Love and Mayor Binder.
Noes: Councilmen None.
mbsent:
( SEAL)
Councilme n Gerow and Selby.
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