CC RESOLUTION 1483RESOLUTION NO. 1483
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF EL SEGUNDO AWARDING BONDS OF SAID CITY
TO THE BEST BIDDER.
WHEREAS, at the time and place fixed for the opening
of bids for the $565,000 bonds of the City of E1 Segundo,
$390,000 designated Municipal Improvement Bonds, 1955, and
$175,000 thereof designated Park and Recreation Bonds, Election
1954, Series 1; 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 BAND OF AMERICA, N.T. &
S.A. & ASSOCIATES offering par, accrued interest to date of de-
livery and the following premiums for bonds bearing interest
rates as follows:
Municipal Improvement
Bonds
maturing
in the years:
Rate Premium
1956 to
1962
5 -3/4% #469.00
1963 to
1971
2 -3/4%
1972 to
1975
1 -1/2%
Park and Recreation
Bonds
maturing in the years:
1956 to 1963 5 -3/4% $49.00
1964 to 1971 2 -3/4%
1972 to 1975 1 -1 /2%
is the highest and best bid for said bonds. Said bid is hereby
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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 re-
spective bidders.
SECTION 3. That the interest rates on said bonds are
hereby fixed at the rates stated in Section 1 hereof, all inter-
est payable annually for the first year and semiannually there-
after.
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 premiums above
stated.
ADOPTED, SIGNED AND APPROVED this 26th day of January,
1955.
ATTEST:
City C Clerk of the City
El Segundo, California.
(SEAL)
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por o t e City of
El Segundo, California.
STATE OF CALIFORNIA, )
COUNTY OF LOS ANGELES, ) SS.
CITY OF EL SEGUNDO. )
I, Neva M. Elsey, 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. 1483, 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 regu-
lar meeting of the said Council held on the 26th day of January,
1955, and that the same was so passed and adopted by the following
vote:
AYES: Councilmen Frederick, Swanson and Mayor Selby;
NOES: Councilmen None;
ABSENT: Councilmen Baker and Gordon.
WITNESS my hand and the official seal of said City this
27th day of January, 1955•
(SEAL)
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C ty Clerk of the City
E1 Segundo, California.