CC RESOLUTION 979� p
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RESOLUTION 10. 979
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF EL SEGUNDO, AWARDING 4650,000 WATERWORKS
BONDS, ELECTION 1948, SERIES 1 OF SAID CITY
TO THE BEST BIDDER.
WHEREAS, at the time and place fixed for the
opening of bids for the $650,000 WATERWORKS BONDS, EIH O-
TION 1948, SERIES 1 of the City of E1 Segundo, all bids
were publioly opened, examined and read, and a tabulation
thereof has been entered in the minutes; and
WHEREAS, the bid of the bidder hereinafter named
is the highest and best bid made by a responsible bidder for
said bonds;
NOW, THEREFORE, the City Council of the City of
E1 Segundo DOES HEREBY RESOLVE, DETERVINE AND ORDER as follows:
SECTION 1. That the bid of
BANK OF AMERICA, N.T. & S.A.
WEEDED & CO.
JOHN NUVEEN & CO.
J. BARTH & CO.
KAISER & CO.
LAWSON, LEVY & WILLIAMS
SCHWABACHER & CO.
By Bank of America, NT&SA
By H.H.Goodrich, Assistant Vice President, -
offering par, accrued interest to date of delivery and a
premium of $349.00 for said bonds to bear interest, payable
semi - annually, at the following rates (as set forth in said
bid), to wit:
X175,000 par value maturing February 1, 1950 to
February 1, 1956 inclusive (being bonds numbers 1 to
175, both inclusive), at 2 3f00 per annum;
$395,000 par value maturing February 1. 1957 to
February 1, 1975 inclusive (being bonds numbers 176 to
570, both inclusive), at 2 1/29� per annum;
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$80,000 par value maturing February 1, 1976 to
February 1, 1979 inclusive (being bonds numbers 571 to
650, both inclusive) at 2 310c per annum, -
is the highest and best bid for said bonds. Said bid is hereb y
accepted and the bonds awarded to said bidders in accordance
with the terms of their said proposal.
SECTION 2. That the bid of R. H. MOULTON & COMPANY;
BLYTH & CO., INC.; CALIFORNIA BANK. PAINE, WEBBER, JACKSON &
CURTIS. SECURITY -FIRST NATIONAL BANK OF LOS ANGELES; WILLIAM
R. STARTS COMPANY, by R. H Moulton & Company (Syndicate Manager}, -
being the only other bid received on said bonds, be and the same
is hereby rejected and the City Clerk is directed to return the
check accompanying said rejected bid to said unsuccessful bidders.
SECTION 3. That the interest rate on said bonds be
and it is hereby fixed at 2 3/4% per annum, payable semi- wmually
on bonds numbered 1 to 175 inclusive; at 2 1/2% per annum pay-
able semi - annually on bonds numbered 176 to 570 inclusive; and
at 2 3/4% per annum payable semi- annually on bonds numbered 571
to 650 inclusive.
SECTION 4. The City Treasurer is hereby directed to
deliver said bonds to the successful bidder upon the payment
of par, accrued interest to date of delivery and the premium
above stated.
1949.
ADOPTED, SIGNED AND APPROVED this 19th day of January,
E1 Segundo, California.
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ay Se o e y c4
E1 Segundo, Cal ifo
STATE OF CALIFORNIA, )
1
COUNTY OF LOS ANGELES. ) 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. 979, was
passed and adopted by the said City Council, approved and
signed by the Mayor of said City, and attested by the City
Clerk of said City, all at a regular meeting of the said Council
held on the 19th day of January. A. D., 1949, and that the same
was so passed and adopted by the following vote:
AYES: Councilmen Baker, Peterson, Swanson, Thompson and
Mayor Selby;
NOES: Councilmen None;
ABSENT: Councilmen None.
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