CC RESOLUTION 577RESOLUTION NO. 577
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF EL SEGUNDO, CALIFORNIA,
ACCEPTING THE BID OF CALIFORNIA BANK
FOR CERTAIN CITY OF EL SEGUNDO SEWER
BONDS, ELECTION 1925, AND FIXING THE
INTEREST RATE THEREON.
WHEREAS, this City Council at the time and place
fixed in the notice inviting bids thereon duly opened in
public sealed bids for the purchase of $15,000.00 City of
E1 Segundo Sewer Bonds, said bonds being dated July 2,
1925, of the denomination of $1,000.00 each, numbered and
payable as follows:
and
Bonds Nos. 201 to 205, inclusive, July 2, 1946
Bonds Nos. 211 to 215, inclusive, July 2, 1947
Bonds Nos. 221 to 225, inclusive, July 2, 1948
WHEREAS, the bid of California Bank offering par,
accrued interest to date of delivery, and a premium of
-P49.00 for said bonds, bearing an interest rate of 1 -1/49
per annum, is the best bid therefor;
NOW, THEREFORE, the City Council of the City of
El Segundo DOES HEREBY RESOLVE, DETERMINE AND ORDER as
follows:
Section 1. That the said bid of California
Bank for said bonds be and the same is hereby accepted
and said bonds are hereby awarded and sold to said bank
upon the terms stated in said bid.
Section 2. That all other bids are hereby
rejected and the City Clerk is directed to return the
checks accompanying same to the unsuccessful bidders.
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Section 3. That the interest rate upon said
415,000.00 of bonds is hereby fixed at 1 -1/4,% per annum,
payable semiannually.
ADOPTED, SIGNED AND APPROVED, this 13th day
of August, 1941.
Mayor of the CTty of E1 Segundo,
California.
ATT T: . 29��
'City the O
E1 Segundo, California. (SEAL)
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SS.
CITY OF EL SEGUNDO )
I, VICTOR D. McCARTHY, City Clerk of the City of
E1 Segundo, DO HEREBY CERTIFY that the foregoing resolution
was duly adopted at a regular meeting of the City Council
of said city held August 13, 1941, and that the same was
adopted by the following vote, to wit:
AYES: Councilmen Gerow, Hesser, Love. Selby and
Mayor Binder,
NOES: Councilmen None.
ABSENT: Councilmen None.
(SEAL
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