CC RESOLUTION 1110RESOLUTION NO. 1110.
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
EL SEGUNDO, CALIFORNIA, AWARDING WATERWORKS BONDS,
ELECTION 1948, SERIES 20 OF SAID CITY CITY TO
THE BEST BIDDER.
WHEREAS, at the time and place fixed for the opening of bids
for the $50,000 WATERWORKS BONDS, ELECTION 1948, SERIES 2 OF THE
CITY OF EL SEGUNDO, being bonds numbered 51 to 100 inclusive, all
bids were publicly 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, DETERMINE AND ORDER as follows:
Section 1. That the bid of Bank of America N. T. & S. A.,
offering par, accrued interest to date of delivery and a premium of
$1289.00 for said bonds to bear interest at the rate of 2% per
annum, payable semiannually, is the highest and best bid for said
bonds. Said bid is hereby accepted and the bonds awarded to said
bidder in accordance with the terms of its proposal.
Section 2., That all bids, other than the one accepted in
Section 1 hereof, are rejected and the City Clerk is directed to
return the checks accompanying said rejected bids to the respective
bidders.
Section 3. That the interest rate on said bonds be and it
is hereby fixed at the rate stated in Section 1 hereof.
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 state.
ADOPTED, SIGNED AND APPROVED this 11th day of October, 1950.
Mayor of the City of El SeguMoo,
T: d /f California.
rJ
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STATE OF CALIFORNIA )
COUNTY OF LAS ANGELES) SS.
CITY OF EL SEGUNDO )
I. VICTOR D. McCARTHY, City Clerk of the City of El
Segundo, California, do hereby certify that the foregoing resolution,
being Resolution No. 11100 was adopted by the City Council of said
City, signed by the Mayor and attested by the City Clerk, at a
regular meeting of said Council held on the 11th day of October,
1950, and that said Resolution was so passed and adopted by the
following vote, to wit:
(SEAT.,)
AYES: Councilmen Gordon, Peterson, Swanson and Mayor Selby.
NOES: Councilmen None.
ABSENT: Councilman Thompson.
'City Clerk of the 91ty of El Segundo
California.
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