HomeMy WebLinkAboutMinutes - April 11, 1927 - CCCITY HALL, AZUSA, CALIFORNIA. MONDAY, APRIL 11, 1927 4:30 P.M.4 8 1
The Board of Trustees of the City
of Azusa met in adjourned session
at the above time and place.
Present at roll call: Trustees:
Howard, Beck, Meier, Durrell,
City Clerk and City Attorney.
Absent:,Trustee: Chenoweth.
Moved by Trustee Howard, seconded
by Trustee Meier and unanimously
carried that a resolution entitled:
A RESOLUTION OF THE BOARD OF TRUSTEES
OF THE CITY OF AZUSA EFFECTING SETTLE-
MENT WITH D. CORNELIUS SMITH AND
IERTHA A SMITH, HIS WIFE, F. S. LACK,
L. W. COFFEE, R. E. CLAPP A14D PARAMOUNT
MOTORS CORPORATION OF THE PACIFIC AND
AUTHORIZING THE PRESIDENT OF SAID BOARD
AND THE CITY CLERK OF SAID CITY, FOR
AND ON BEHALF OF SAID CITY, TO EXECUTE,
APPROVE, RATIFY AND CONFIRM CERTAIN
DOCUMENTS.
be read.
This resolution was then read.
Moved by Trustee Howard, seconded by
Trustee Beck that this resolution be
adopted as read and be numbered
Resolution No. 974.
Carried by the following vote of the
Board:
Ayes: Trustees: Howard, Beck, Meier,
Durrell. Noes: None. Absent:
Trustee: Chenoweth.
Moved by Trustee Meier, seconded by
Trustee Beck and unanimously carried
that a resolution entitled:
"A RESOLUTION OF THE BOARD OF TRUSTEES
OF THE CITY OF AZUSA DECLARING 'WILL F.
PECK TO BE THE LOWEST RESPONSIBLE
BIDDER FOR THE DOING OF THE WORK AND
IMPROVEMENT DESCRIBED IN RESOLUTION OF
INTENTION 110. 919 AND AWARDING THE CON-
TRACT FOR THE DOING OF SAID WORK AND
IMPROVEMENT TO SAID WILL F. PECK AT
THE PRICES NAMED IN HIS BID; AND RE-
JECTING ALL OTHER PROPOSALS OR BIDS."
be read.
This resolution was then read.
Moved by Trustee Beck, seconded by
Trustee Meier that this resolution be
adopted as read and be numbered
Resolution No. 975.
Carried by the following vote of the
Board:
Ayes: Trustees: Howard, Beck, Meier,
Durrell. Noes: None. Absent Trustee:
Chenoweth.
Moved by Trustee Meier, seconded by
Trustee Howard and carried that the
Board adjourn until Monday, April 11,
1927 at 7:30 P.M.
RESOLUTION NO. 074.
ADOPTED.
RESOLUTION NO. 975.
ADOPTED.
City Clerk of the City of Azusa.
CITY HALL, AZUSA, CALIFORNIA, MOIJDAY, APRIL 11, 1927.
The Board of Trustees of
the City of Azusa met in
adjourned session at the
above time and place.
Present at roll call: Trustees:
Howard, Meier, Chenoweth, Durrell
City Attorney and City Clerk.
Absent: Trustee: Beck.
The President of the Board of Trustees announced
"The hour of 7:30 o'clock P. M. has arrived and this is
the date and the hour set for the opening of bids for the
purchase of City Miall bonds of the City of Azusa heretofore
offered for sale. Mr. Clerk, have ,you any proposals in
your possession?"
The City Clerk announced that he had received nine
(9) proposals in response to the published advertisement
for bids.
The President thereupon directed the City Clerk to
open and read the proposals.
The Clerk thereupon opened and read said proposals
which are as follows:
483
7:30 P. M.
From Russell Sutherlin Co., a bid in words and figures
as follows, to -wit:
Los Angeles, California
April 11, 1927.
Hon. Board of Trustees,
Azusa, California.
Gentlemen:
For $75,000 legally issued City Hall Bonds of
the City of Azusa, said bonds bearing interest at 42,%, to
be dated April 1, 1927, interest payable semi-annually
April l and October 1 at the Office of the City Treasurer,
bonds to be in denomination of $1,000 each and to mature
2,000 annuallv April 1, 1928 to April 1, 1963, both in-
clusive, and $3,000 April 1, 1964, we will pay you the
par value thereof, together with accrued interest from
date of bonds to date of delivery and will furnish blank
bonds at our own expense.
The bonds are to be legally and regularly
issued, you agreeing to furnish us prior to the delivery
bf the executed bonds with complete certified transcript
of proceedings evidencing to the satisfaction of our at-
torneys the regularity and legality of said issue.
We deposit herewith Cashier's Check in the
amount of $3,750 as an evidence of our good faith and
ability to fulfill and comply with the terms of this
proposal, the same to be forfeited as liquidated damages
in the event we fail or decline to take said bonds, in
accordance with this bid.
Respectfully submitted,
RUSSELL SUTHERLIN & CO.
By R. E. Hill
484
MINUTES OF ADJOURNED REGULAR MEETING APRIL 11, 1927, 7:30 P.M.
7
The foregoing proposal is hereby accepted this
11th day of April 1927 and bonds awarded to Russell Sutherlin
and Company. Passed by Resolution by the Board of Trustees.
Attest:
Jerk.
President
"A cashier's check No. 14464 on the Merchants
National Trust and Savings Bank, in the sum of •$3,750.00
accompanied said proposal"
From Dean Witter Co., a bid in words and figures
as follows, to -wit:
Board of Trustees,
City of Azusa,
California.
Gentlemen:
Los Angeles, California
April 11, 1927.
For '
:75,000 City Hall Bonds of City of Azusa
in the denomination of 1,000.00 coupon bonds, bearing in-
terest at the rate of 44,% per annum, payable semi-annually,
both principal and interest payable at the office of Treasurer
of City of Azusa said bonds bearing date of April 1, 1927
and maturing thereafter from April 1, 1928 to April 1, 1964
inclusive, as shown in your printed Notice of Sale, WE WILL
PAY YOU PAR AND ACCRUED INTEREST TO DATE OF DELIVERY, AND
IN ADDITION THERETO, A PREMIUM OF (:2,639.04) Two thousand
six hundred thirty nine and 04/100 Dollars.
As an evidence of good faith, we hand ,you herewith
cashier's check on the First National Bank, Los Angeles for
$3,900.00; said check to be held by you and used in part pay-
ment for the bonds when delivered to us, with the approving
opinion of our attorneys, said check to be returned promptly
in the event this bid is not accepted. This bid is made in
accordance with your printed Notice of Sale.
Very truly yours,
DEAN WITTER & CO.
By Guy Witter
MINUTES OF ADJOURNED REGULAR MEETING HELD APRIL 11, 1927. 7:30 P.M.
"A certified check on Dean Witter & Co., in the sum of
$3,900.00 accompanied said proposal"
From Security Co., a bid in words and figures as
follows, to -wit:
Los Angeles
April 11, 1927.
City Clerk,
City of Azusa, Calif.
Dear Sir:
For the proposed issue of
$75,000 CITY OF AZUSA CITY HALL 41% BONDS
of the City of Azusa, Los Angeles County, California, Dated April 1,
1927, in the denomination of $1,000 each, bearing interest at the
rate of 4,% per annum, payable semi-annually; both principal and in-
terest payable at the office of the Treasurer of the City of Azusa,
Los Angeles County, California, said bonds maturing $2,000 annually
beginning April 1, 1928, to and including April 1, 1963, and $3,000
April 1, 1964, we will pay par and accrued interest to date of de-
livery, plus a premium of $889.00.
The foregoing offer is made subject to approval of all legal
matters by our attorneys in connection with the issuance and delivery
of the bonds, we to be furnished with a certified transcript of pro-
ceedings in connection with the issuance of the bonds for examination
by our attorneys.
We enclose herewith Cashier's Check of the Security Trust &
Savings Bank, Los Angeles, For :'3,800.00, payable to the order of the
City Treasurer of the City of Azusa, Los Angeles County, California,
to be held pending delivery of the bonds to us under the terms and
conditions set forth in your Notice of Sale, if this bid is accepted,
or to be returned to us promptly in the event we are not awarded the
bonds or our attorneys refuse to approve the issue.
Respectfully submitted,
' SECURITY C014PANY
ByH.B. Cutler
HBC:LM Assistan Secretary
"A cashier's check No. 494150 on the Security Trust & Savings
Bank, in the sum of $3800.00 accompanied said proposal"
From Anglo London Paris Co., a bid in words and figures as
follows, to -wit:
San Francisco, Calif.
April 9, 1927.
Honorable Board of Trustees,
City of Azusa, Calif.
Dear Sirs:
For $75,000 par value City Hall bonds of the City of Azusa,
we hereby bid you par and accrued interest to date of delivery, plus a
premium of $124.00.
The bonds above bid for are more particularly described as
follows:
$75,000 par value City Hall bonds of the City of Azusa, Los
Angeles County, California; dated April 1, 1927; of the denomination of
$13000 each; bearing interest at the rate of four and one-half per cent
(42,x) per annum; payable semi-annually; and maturing: $2,000 par value
on April 1st in each of the years 1928 to 1963, both years inclusive.
$3,000 par value on April 1, 1964.
The Above bid is made subject to our receiving from our at-.
torneys a satisfactory opinion approving the legality of the above
bonds in all respects.
Eenlosed please find our chasier's check for $3,825, drawn
upon the Merchants National Trust & Savings Bank, Los Angeles, which
is to be returned to us in the event this bid is not accepted.
Very truly yours,
ANGLO LONDON PARIS COMPANY
MSP:ET By Edward. L. Center
"A cashier's check No. 14433 on the Merchants National Trust
& Savings Bank accompanied said proposal"
From First Securities Co., a bid in words and figures as
follows, to -wit:
Los Angeles, Calif.
April 110 1927.
Bo rd f Trustees
Ci y 0 Azusa, Calif.
48 CITY HALL, AZUSA, CALIFORNIA, MONDAY APRIL 11, 1927. 7:30 P.M.
:Y
Gentlemen:
PROPOSAL FOR TEL PURCHASE: OF 875,000 PAR VALUE AZUSA
�--+
CITY HALL BONDS.
—
For the 775,000 par value Azusa City Hall Blinds, dated
April 1, 1927, denomination of $1,000 each, and to bear interest
at the rate of 42% per annum, payable semi-annually, same to con-
stitute a direct general obligation of the entire City of Azusa,
and maturing as follows:
$2,000 par value of said bonds each year April 1,
1928 to April 1, 1963, inclusive, •$3,000 par value of said bonds
April 19 1964, we will pay you Seventy Five Thousand Dollars ($75,000),
being the par value of said bonds, plus accrued interest to date
of delivery, together with a premium of Four Hundred and Six
sollars ($406.00).
This bid is for prompt acceptance and is made with the
understainding that prior to delivery you will furnish us with
full abstract of proceedings satisfactorily evidencing to our
attorneys the legality of this issue in all respects.
In accordance with your Notice of Sale, and as evidence of
our good faith, we hand you herewith a cashier's check for Thirty
Eight Hundred Dollars ($3800.00), being not less than 5% of the
total amount bid for said bonds, same to be used in part payment
of the bonds if our bid is accepted, or to be returned promptly
to us in the event we are not awarded the bonds or if our at-
torneys refuse to approve the legality of the issue.
Respectfully submitted,
FIRST SECURITIES COMPANY
By C. F. Seifel, B4ying Manager
"A cashier's check No. 110295 on the Pacific -Southwest
Trust'&Savings Bank, in the sum of.$3800.00 accompanied;said::P.roposal"
From -William R. Staats Co., a bid in works and figures
as follows:
Los An eles, Calif.
April 11th, 1927
The Honorable Board of Trustees
City of Azusa, California
'
Gentlemen:
For $;75,000 City Hall Bonds of the City of Ansa,
County of Los Angeles, State of California, of the denomination
of $1,000 each, dated April 1st, 1927, maturing $2,000 of said
bonds in each of the years 1928 to 1963, inclusive and $3,000
of said bonds in the year 1964, bearing interest at the rate of
5% per annum, payable semi-annually, and constituting direct
general obligations of said City, we will pay you on delivery to
us the sum of par, accrued interest to date of deliver, and a
premium tliereover of $4,711.00.
This bid is made subject to immediate acceptance and
prompt delivery of the bonds to us; you agreeing to furnish us,
prior to delivery, a full certified transcript of all proceed-
ings had to authorize this issue satisfactorily evidencing to
our attorneys the legality of these bonds in all respects.
We enclose herewith as evidence of good faith certi-
fied or cashier's check for $4,000 same to be retained by you
as part payment in case the bonds are sold to us; otherwise to
be returned.
Respectfully submitted,
WILLIAM R. STAATS CO.
1
ByJohn Earle Jardine
"A certified check No. 10056 on the California Bank,
'
in the sum of $4000.00 accompanied said proposal"
From Sutherlin, Barry & Co., a bid in words and
figures as follows, to -wit:
Los Angeles, Calif:
April 11, 1927.
To the Honorable Board of Trustees
Azusa, California
Gentlemen:
For $$75,000 par value CITY HALL BONDS, offered for sale
this day, said bonds to be dated April 11 1927, and bear interest
not to exceed 5% per annum, both principal and semi-annunl interest
(April 1 and October 1) payable at the City Treasurer's office at
MINUTES OF ADJOURNED REGULAR idEETING APRIL 11, 1927. 7:30 P.M.
Azusa, California, said issue being in denomination of $100o, pay-
able serially on the first day of April. each year, as per schedule
shown in your official advertisement, we will pay you FOR BONDS
bearing 50 - PAR, ACCRUED INTEREST to date of delivery, and a
premium of $3,045.00. FOR BONDS bearing 4"% PAR, ACCRUED INTEREST
to date of delivery, and a premium of $1,545.00.
4187
Prior to date of delivery of the bonds, we are to be furnished
with a full and complete certified transcript of all proceedings had
in connection with the issuance of the bonds which will establish
the legality thereof to the satisfaction of our attorneys.
As evidence of good faith, we hand you herewith our certified
check in the sum of $3,750.00, which shall be forfeited as liqui-
dated damages should we fail to comply with the terms of this bid.
If this offer is not accepted, however, said check shall be imme-
diatedly returned to us.
Respectfully submitted,
SUTHERLIN, BARRY & COMPANY, INC.
By H. Calvrie
"A certified check No. 1241 on the Citizens Trust & Savings
Bank, in the sum of $3750.00 accompanied said proposal"
From the Detroit Co. and E. R. Gundelfinger a bid in words
and figures as follows, to-wtt:
San Francisco, California
April 9, 1927.
Homorable.Board of Trustees
City of Azusa, California
Gentlemen:
For $75,000, par value, City of Azusa City Hall Q% bonds
we, The Detroit Company and E. R. Gundelfinger, Inc., bid the par
value thereof and accrued interest to date of delivery and in ad-
dition thereto a premium of •$1,537.00.
Said bonds bid for hereby are partivularly described as
follows: seventy-five (75) City of Azusa City Hall Bonds of the
denomination of J1000 each, dated April 1, 1927, bearing interest
at the rate of 44% per annum, payable semi-annually April and
October 1st of each year and maturingg: $2000, par value, due each
year April 1, 1928-1963, inclusive $3000, par value, due April 1, 1964
This bid is for your immediate acceptance, unless further
extended by us, and is made subject to our receiving from our at-
torneys satisfactory opinion certifying as to the legality of said
bonds in all respects.
We are enclosing certified check in the amount of •',3,875.00
which said check is to be returned to us in the event.that this bid
is not accepted or said bonds shaould not be delivered to us in ac-
cordance with the foregoing.
Very truly yours,
THE DETROIT COMPANY
E. R. GUNDELFINGER, INC.
ByE. R. GUNDERLFINGER, INC.
E. E. Blum
"A certified check No. 876 on the Wells Fargo Bank & Union
Trust Co., in the sum of 1-3875.00 accompanied said proposal"
From Pierce, Fair & Co., a bid in words and figures as
follows: to -wit:
San Franisco, California
April 11, 1927.
Board of Trustees of the
City of Azusa, California
Gentlemen:
For $75,000 par value bonds of the City of Azusa, dated
April .l, 1927 being 75 bonds of the denomination of 01,000 maturing
$2,000 annually from 1928 to 1963, both inclusive, and $,3,000 in 1964,
and bearing interest at the rate of 412% per annum payable semi-annually,
we hereby offer and bid par, accrued interest to date of delivery and
a premium of Six Hundred Five Dollars and No/100s ($605.00)
Our acceptance of these bonds upon delivery will be subject
to the approval of our attorneys as to the regularity and legality of
the issue and we bid upon the understanding that should these bonds
be awarded to us, you will furnish us with all paper necessary for
such examination.
MINUTES OF ADJOURNED REGULAR MEETING APRIL 11, 1927. 7:30 P. I.I.
In accordance with the terms of your notice of sale and
this bid we enclose certified check in the sum of $3,825.00, said
check to be applied as part payment in the event we are awarded
the bonds, otherwise to be returned to us immediately.
Yours very truly,
PEIRCE, FAIR & CO.
L. L. Rocissco.
"A certified check No. 4071 C on the Bank of California, N. A.
in the sum of $3,825.00 accompanied said proposal.
.All bids having been publicly opened and read, it
was moved by Trustee Meier, seconded by Trustee Howard
that the proposals be taken under advisement until 1:00
o'clock P. M., Thursday, April 14th, 1927, at which time
the Board will determine which of the said bids it will
accept, which motion was adopted by the following vote:
AYES: Trustees: Howard, Meier, Chenoweth,
Darrell.
NOES; None.
ABSENT; Trustee: Beck.
Whereupon, the President declared the motion un-
animously carried.
Moved by Trustee Howard, seconded
by Trustee Meier that the bill of
the Title Insurance Company for
$675.00 for abstract of title for
Paramount Avenue be allowed and
the President of the Board and the
City Clerk were instructed to sign
a warrant for this amount.
Carried by the following vote of
the Board:
Ayes: Trustees: Howard, Meier,
Chenoweth, Durrell. Noes: NRne.
Absent: Trustee: Beck.
Moved by Trustee Chenoweth,
seconded by Trustee Howard that
the President of the Board and
the City Clerk be instructed to
draw a warrant payable to Thomas
A. Berkebile for the sum of
$1500.00 according to the terms
of Resolution No. 947.
Carried by the following vote of
the Board:
Ayes: Trustees: Howard, Meier,
Chenoweth,-Durrel. Noes: None.
Absent: Trustee: Beck.
Moved by Trustee Howard, seconded
by Trustee Meierthat'the President
of the Board and the City Clerk
be instructed to sign a warrant
for $5025.28 in payment of the
balance date on Lot 28 and parts of
Lots 29,and 30 in Block 29, City
of Azusa.
Carried by the following vote of
the Board:
Ayes: Trustees: Howard, Meier,
Chenoweth, Durrell. Noes: None.
Absent: Trustee: Beck.
PRESIDENT AND CITY CLERK
AUTHORIZED TO SIGN A
WARRANT IN FAVOR OF TITLE
INSURANCE CO. FOR ABSTRACT
ON PARAMOUNT AVENUE.
PRESIDENT AND CITY CLERK
AUTIIORIZED TO SIGN
WARRANT IN FAVOR OF THOMAS
A. BERKEBILE FOR $1500.00
MOVED AND CARRIED THAT A
WARRANT BE DRAWN TO PAY
BALANCE DUE 01.1 LOTS
PURCHASED BY THE CITY OF
AZUSA.
MINUTES OF ADJOURNED REGULAR MEETING
Moved by Trustee Meier, seconded
by Trustee Howard that the City
Clerk be authorized to interview
the owners of Lots 27 to 45 in-
clusive in Block 30 in the City
of Azusa, to ascertain the minimum
price that they would sell said
lots to the City in lieu of con-
demnation proceedings. The City
Clerk being authorized to pur-
chase any or all of said lots as
opportunity may present, the
price not to exceed values fixed by
the Realty Board. The City Clergy;
is to secure options on said lots
for ninety days, the amount paid
for the option to be credited on
the purchase price. The President
of the Board is hereby authorized
to draw a warrant for the sum of
$125.00 in favor of the City Clerk
for the securing of said options.
Carried by the following vote of
the Board:
Ayes: Trustees: Howard, Meier,
Chenoweth, Durrell. Noes: None.
Absent: Trustee: Beck.
Moved by Trustee Chenoweth, second-
ed by Trustee Howard and carried
that the meeting adjourn until
thursday, April 14, 1927 at 1:00
o'clock.
489
APRIL 11, 1927. 7:30 P.M.
CITY CLERK AUTHORIZED
TO PURCHASE AND OR
ALL LOTS FROM 21 TO
45 INCLUSIVE IN BLOCK
30 IN THE CITY OF AZUSA.
ALSO GIVEN X125.00 TO
SECURE OPTIONS ON LOTS.
14EETIIITG ADJOURNED UNTIL
APRIL 14, 1927.
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