CC RESOLUTION 1547RESOLUTION NO. 1547
RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF EL SEGUNDO AWARDING BONDS OF
SAID CITY TO BEST BIDDER.
WHEREAS, at the time and place fixed for the opening
of bids for the $300,000 bonds of the City of E1 Segundo, $100,000
designated Waterworks Bonds, Election 1948, Series 4, and $200,000
thereof designated Park and Recreation Bonds, Election 1954,
Series 2; 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 El Se-
gundo, DOES HEREBY RESOLVE, DETERMINE AND ORDER as follows:
SECTIOi`1 1. That the bid of Security -First National Bank
of Los Angeles; R. H. Moulton & Company; Paine, Webber, Jackson &
Curtis; and Fred D. Black & Co. offering par, accrued interest to
date of delivery and the following premiums for bonds bearing; in-
terest rates as follows:
Waterworks Bonds
maturing
in the years:
Rate
Premium
1956 to
1960
4%
X151.00
1961 to
1973
2 -1/2%
1974 to
1975
2 -3/4%
Park and
Recreation Bonds
maturing
in the years:
1956 to
1960
4%
301.00
1961 to
1973
2 -1/2%
1974 to
1975
2 -3/4%
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.
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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 interest
payable annually for the first year and semiannually thereafter.
SECTION 4. The City Treasurer is hereby directed to de-
liver 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 13th day of October,
1955.
PQayor of the City of
California.
ATTEST:
City Clerk
(SEAL)
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 re-
solution, being Resolution No. 1547, 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 13th day of October, 1955,
and that the same was so passed and adopted by the following° vote:
AYES: Councilmen Baker, Frederick, Gordon, Svanscn
and Mayor Selby;
?'dOES: Councilmen (done;
ABSENT: Councilmen None.
WITNESS my hand and the official seal of said City this
14th day of October, 1955.
City Clerk of the City 6f l Segundo,
(SEAL) California
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