HomeMy WebLinkAboutResolution No. 12371
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LAW OFFICE
P. J. TSCHARNER
ROOMS AND
FIRST NATIONAL
BANK BUILOINO
AZUSA.CALIFORNIA
- -• N • • N •
RES OLUT ION NO. 123
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
AZUSA RESCINDING AND NULLIFYING RESOLUTION NO. 1231 PASSED
AND APPROVED ON SEPTEMBER 4, 1930.
INHE.T, S, the City Council of the City of Azusa, at
a regular session held on September 40 19'u"0, adopted and
passed Resolution No. 1231, relative to the sale of the
city's beneficial interest in Trust No. BA -243, Bank of Ita;
National Trust and Savings Association; and
WHEREAS, it had been represented to the City Coun-
cil at said time by the Trust Department of the Bank of
Italy that the City's proportion of the sale under said
Trust was substantially the sum of $8,500.00, in cash, and
substantially $21,500.00 in Bonds; and
[HEREAS, the Bank of Italy made an error in pro-
portioning the amount vrhich was due to the City under said
sale; and
�IHEREAS, it now develops that the amount due to
the City of Azusa under said sale is the sum of }4,223.00
in cash and $24P500.00 in bonds; and
WHEREAS, because of said error on the part of the
Bank of Italy, as Trustee, the authority given in said Res-
olution No. 1231 cannot be carried out and said moneys and
bonds received; and
WHEREAS, the City of Azusa can receive only the
said sum of $4,223.00 in cash and .$24,500.00 in bonds under
the said sale;
THEREFORE, BE IT RESOLVED, that said Resolution
No. 1231 be, and the same is hereby rescinded and declared
to be null and void, and all authority therein given to the
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ILAW 0MCE
P. J. TSCHARNER
ROOMGI ANDS
FIRST NATIONAL
BANK BUILDING
AZUSA, CALIFORNIA
• N •
Mayor and City Clerk to execute an assignment of the
City's interest in said Trust, be and the same is hereby
rescinded.
I hereby certify that the foregoing Resolution
was duly and regularly a19.opted by the City Council of the
City of Azusa at a ' °' adjourned meeting, held on
the day of
1930, by the fol owing vote of the Council, to -wit:
AYES:
NAYES:
ABSENT: �) 2� �✓
_CTE_yZ er o(Aty o Azusa.
APPROJED THIS /� DAY OF 6 , 1930.