HomeMy WebLinkAboutResolution No. 352328
RESOLUTION NO 352.
A RESOLUTION OF THE BOARD OF TRUSTEES OF THE CITY
OF AZUSA, AUTHORIZING THE CITY CLERK TO PUBLISH
A NOTICE INVITING SEALED PROPOSALS TO PURCHASE
CERTAIN MUNICIPAL BONDS.
The Board of Trustees of the City of Azusa
do resolve as follows;
Section 1. That the City Clerk be,. and he
,is hereby directed to publish by one insertion
in "ThePomotrol)io", a weekly newspaper.of ben -
oral circulation, published and circulated in
the said City of Azusa, and also by One inser-
tion in the Southwest Contractor, a newspaper
published in the City of Los Angeles,.a notice
inviting proposals to purchase Municipal W$ter
System Improvement Bonds, in the following form;
NOTICE OF SALE OF MUNICIPAL WATER SYSTEM
IMPROVIW#'ENT BONDS OF THE CIDTY OF AZUSA,
CALIFORNIA.
SEALED PROPOSALS WILL BE received by the City
Clerk of the City of Azusa, California, until
7:30 P.M. of Monday April 8th,1914, to purchase
Municipal Water System Improvement Bonds in the
Amount of Thirty Five Thousand ($35,000.00)
DAllars,
Said bonds are forty (40) year serials, and
are eighty (80) in number, each in the denomination
of $437.50, dated April let ,1914, bearing interest
at the rate of five per cent, per annum, payable
semi-annually on the first day of October and the
let day of April of every year. Principal and
interest payable in Gold Coin of the United States
at the office of the Treasurer of the City of
Azusa. Two of said bonds are due and pa$able on
the let , day of April, 1915, and two of said
bonds on the same day and date of each and
every year thereafter.
Said bonds are issued under the authority of
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an Act of the Legislature of the Stste,:of California,
entitled, "An Act Authorizing the Incurring'of In-
debtednese by Cities, Towne, and Municipal Corpora-
tions for Municipal Improvements and Regulating the
Acquisition, Construction or Completion Thereof,"
which became a law February 25th,1901, and in ac-
oordance with the provisions of law and the Ordinances
of said City of Azusa. ,
No proposal for said bonds will be enterti►ined at
less than their face val}Ae, together with the accrued
interest to the date of t)►eir delivery, and all bids
or proposals submitted will be construed by the Board
of Trustees of said City to mean par,and accrued interest
to the date of delivery of said bonds, in addition to
the premium offered, whether the bids or proposals set
forth the same explicitly or not.
The said bonds will be ready for ,delivery on or
about the let day of May„ 1914„ and will be delivered
at the City Treasurer's office in the City of Azusa,
California, on at any designated place upon the pay -
went by, the purchaser of all expenses incurred by
the delivery of the bonds and transfer of the money
necessary to make Aelive.ry and payment equivalent to
the transaction at the office of the City Treasurer in
the said City of AzUsa. All bids or proposals providing
for delivery at any other place that the City of
Azusa, California, will be construed by the Board of
Trustees to mean the price bid in addition to the
expense of delivery, whether the yid or proposal sets
forth the same explicitly or not. ,
With each proposal or bid must be submitted a
certified check, dr&Vn upon some bank in the County
of Los Angeles, payable to the order of the City
Treasurer of the City of Azusa for an amount equal
to three per cent of the total amount bid, as a
guarantee that the bidder will purchase and pay for
said bonds in the event the bid is accepted. The Board
of Trustees of,the said City reserves the right to
reject,,mny xJA all bids or proposals.
330
By order of the Board of Trustees- -of the City
of Azusa, made at an adjourned regular meeting
of sail Board held onnthe 16th day of March,1914.
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City Clerk of theCity of Azusa.
Section 2.. That the City Clerk be, and he is
hereby instructed .and directed to publish by one
insertion in "The Pomotropic", a weekly newspaper
of general circulation, published and circulated in
the said City of Azusa, and also by One insertion
in the Southwest Contractor, a newspaper published
inc:tthe City of Los Angeles, a notice inviting pro-
posals to purchase Municipal Electric System Im-
procement Bonds, in the following form;
NOTICE OF SALE OF MUNICIPAL ELECTRIC SYSTEM
IMPROVEMENT BONDS OF THE CITY, OF AZUSA, CALIFORNIA*
Sealed PROPOSALS iiILL BE received by the City
Clerk of Azusa, California, until R:30 o'clock P.M.
of Monday, April 6th„ 1914„ to purchase Municipal
Electric System Improvement Bonds in the amount of
Twenty Thousan ($20,000.00) Dollars.
Said bonds are forty (40) year serials, and
are eighty (80) in number, each in the denomination
of $250.00, dated April lst,1914,bearind interest
at the rate of five per oent per annum, payable
semi-annually on the 1st day -of October, and the 1st
day of April of every year. Principal and interest
payable in Gold Coin of the United States at the
office of the Treasurer of the City of Azusa.
Two of said bonds are due and payable on the let
day of itpril , 1915, and two of said bonds on the
same day and date of each and,every year thereafter.
Said bonds are issued under the authority of an
Act of the Legislature of the State of Californiay
entitled,"An Act AA,Cthbriiing!the. Iacutrtd&,Oftln-o
deTit6dne'tis 'by Ci`t3es,; T'awns and Municipal Corporations
for Municipal Improvements and Regulating and
Acquisition. Construction or Completion Thereof,"
which became a law February 25th,1901, and in
accordance with -the provisions of law and the Ordi-
'331
No proposal for said bonds will be entertained at
1� less than their face value, together with -the accrued
interest to the date of their -delivery, -and all bids
or proposals submitted will be construed by tho Board
of Trustees of said City to mean par and accrued
interest to the date of delivery of said bonds4i in
addition to the premium offered, whether the bids or
proposals set forth the same explicitly or not.
The said bonds will be ready for delivery on or
about the lst day of May,1914, and will be delivered
at the City Treasurer's office in the City of Azusa,
California, or at any designated place upon the pay-
ment by the purchaser of all expenses incurred by
the delivery of the bonds and transfer of the money
necessary to make delivery and payment equivalent to
the transaction at the office of the City Treasurer
in said Ctty of Azusa.
All bids or proposals providing for delivery at
any other place that the City of Azusa, California,
will be construed by the Board of Trustees to mean
the price bid in addition to the expense of delivery
, whether, the bid or proposal sets forth the came
explicitly or not.
Vith each proposal or bid must be subffiitted a
certified cheek,ddawn upon some bank in the County of
r
Los Angeles, payable to the order of the City Treasurer
of the City of Azusa, for an amount equal to three
per cent, of the total amount bid, as a guarantee that
the ilidder will purchase and pay for said bonds in the
event the bid is accepted. The Board of Trustees of
the said City reserves the right to reject any and
all bids or proposals.
By order of the Board of Trustees of the City of
Azusa, made at a regular adjourned meeting of said
Board March,16th,1914.
City Clerk of the City of Azusa,
�- Adopted this 16th day of March,1914.
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hLtPresident of the Board of Trustees o the City
of Azusa.
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(seal)
A TTH4 ST:
CL W Bo din.
CityClerk ortea -City of 7zl;sa.
STATE OF CALIFORNIA,)
CITY OF AZUSA. )
I. C.M.Bouldin, City Clerk of the City of
Azusa, do hereby certify that the foregoing
Resolution wasopassed by the Board of Trustees
of the City of Azusa, State of Califoania, and
signed by the President`of said Board, at an
adjourned regular meeting thereof, held on
the 18th day of March,1914, and that the same
was passed by the following vote, to -wit;
Ayes; Barnes, Clark, Case and Roach.
Noes; None.
Abeent;,Collins.
City Clerk of theCity of Azusa,
(seal)
'-d9.
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