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HomeMy WebLinkAboutResolution No. 765i�. 0 RESOLUTION NO. 765 A RESOLUTION DIRECTING THE CITY CLERI, OF THE CITY OF AZUSA TO ADVERTISE FOR SALE CERTAIN MUNICIPAL BONDS OF SAID CITY. The Board of Trustees of the City of Azusa do resolve as follows: That the City Clerk be and he is hereby directed to publish _ by two insertions in the Pomotropic, a weekly newspaper of general circulation, published and circulated in said City of Azusa, a notice inviting proposals to purchase certain Idunicipal Bonds of said City in the following form: NOTICE OF SALE OF STREET WORK BONDS OF THE CITY OF AZUSA, CALIFORNIA. Sealed proposals will be received by the City Clerk of the City of t.zusa, California, until 7:30 P. lel., on Monday, March 17, 1924, to purchase certain Municipal Bonds in said City of Azusa, to -wit: Street Work Bonds in the sum of Fifty Thousand ($50,000) Dollars. Said Bonds are forty (40) year serials, and are eighty (80) in number, and are all in the denomination of Six Hundred and Twe nty live ($625.00) Dollars each, and the principal and interest thereon are payable in lawful money of the United States. They are dated March 1 1924, and bear interest at the rate of five and one-half (6-20A) per cent per annum payable semi-annually on the first days of.Llarch and the first days of September of each year. Two of said bonds of the denomination of Six Hundred and Twenty Five (4625.00) Dollars shall be paid on the first day of September, 1924, and two of said Bonds of the denomination of Six Hundred and Twenty Five (4625.00) Dollars on the same day and date of each and every year thereafter at the City Treasury of said City of Azusa, together with all interest on all sums unpaid at such date. All of said Bonds are issued under the authority of the act of Legislature of the Mate of California entitled, "An act author- izing the incurring of indebtedness by cities, towns and municipal corporations for municipal improvements and regulating the acquisi- tion, construction or completion thereof", which became a law February 25, 1901, and the amendments thereto, and in accordance with the provisions of law and the ordinances of said City. No proposals for said Bonds will be entertained at less than their face value, together with the accrued interest to the date of their delivery, and all bids or proposals submitted will be con- strued by the Board of Trustees of said City to mean par accrued interest to date of delivery of said Bonds in addition to the pre- mium offered, whether the bids or proposals set forth the same explicitly or not. These Bonds will be sold subject to the approval of Messers. Gibson, Dunn and Crutcher, lawyers of Los Angeles, California. The said Bonds will be ready for delivery on or about April 1, 1924, and will be delivered at the City Treasurer's Office in the City of Azusa. California, or at any other designated place upon the payment by the purchaser of all expenses incurring by the delivery of the Bonds and the transfer of money necessary to make delivery and payment equivalent to a transaction at the office of the City Treasurer of said City of .zusa. All bids or proposals providing for the delivery at any place other than the City of Azusa, California, will be construed by the Board of Trustees to mean the price bid in addition to the expenses of delivery, whether the bid or proposal sets forth the same explicit- ly or not. Sith each proposal or bid for said Street 'Work Bonds must be 199 submitted a certified check drawn upon some Bank in the State of California, payable to the order of the City Treasurer of the City of Azusa, for the sum of Five hundred ($500.00) Dollars as a guarantee that the bidder will purchase and pay for said bonds in accordance with his proposal in the event the bid is accepted. The Board of Trustees of said City reserve 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 meeting :of said Board, I]arch 3, 1924. ATTEST: J. 0. DURRELL City Clerk of the City of i,zusa. Adopted this 3rd day of :,larch, 1924. L. CASE President of the Board of Trustees of the City of -Azusa, California. City ler STATS JF CALIFORNIA. ) COUNTY OF LOS AIJGELES, ) SS. CITY OF AZUSA. I, J. 0. Durrell, City Clerk of the City of Azusa, do hereby certify that the _foregoing Resolution was duly passed by the Board of Trustees of the City of Azusa and signed by the Presi- dent of said Board at a regular meeting thereof held on the 3rd day of March, 1924, and that the same was adopted by the follow- ing vote; AYES: TRUSTEES; Noon, Meier, Case, Chenoweth, Peirce. NOES: TRUSTEES: None. ABSE,IT: TRUSTEES: None., J. 0. 1 )U33LL City lerk o t e Ci y o ezusa.