HomeMy WebLinkAboutMinutes - April 14, 1927 - CCCITY HALL, 1_ZUSA, CALIFORNIA, THURSDAY, PRIL 14, 1927, 1:00 P.M4 93
The Board of Trustees of the City
of Azusa met in adjourned regular
session at the above time and place.
Present at roll call: Trustees:
Howard, Beck, Meier, Chenoweth,
City Clerk. Absent: Trustee:
Durrell and City Attorney.
On motion by Trustee Chenoweth,
seconded by Trustee Meier, Trustee
Howard, in the absence of Trustee
Durrell was elected President of
the Board pro tem.
The President pro tem announced "This is the date and
the hour set for determining which of the bids for the City
Hall bonds of the City of Azusa shall be accepted."
Trustee Chenoweth then stated that, in his opinion, the
bid of William R. Staats Co. was the best bid under all the
circumstances for the City of Azusa and that he therefore of-
fered and moved the adoption of the resolution which was then
read by the City Clerk and which is as follows:
RESOLUTION NO.976.
A RESOLUTION OF THE BOARD OF TRUSTEES OF THE CITY OF
AZUSA ACCEPTING THE BID OF 'WILLIAM R. STAATS CO. OF LOS ANGELES,
CALIFORNIA, TO PURCHASE THE CITY HALL BONDS OF THE CITY OF
AZUSA AUTHORIZED AT THE SPECIAL MUNICIPAL ELECTION HELD ON THE
15TH DAJ OF MARCH, 1927.
The Board of Trustees of the City of Azusa do resolve
as follows:
WHEREAS, the Board of Trustees of the City of Azusa, at
an adjourned regular meeting of said Board held on the 28th day
of March, 1927, by Resolution No. 972, duly adopted and approved
on said date, authorized and directed the City Clerk of said city
to publish in one regular issue each of "The Los Angeles Daily
Journal", a newspaper of general circulation established, printed,
published and circulated in the City of Los Angeles, and the
"Pomotropic", a newspaper of general circulation established,
printed, published and circulated in the said City of Azusa, a
notice inviting sealed bids or proposals to purchase the City
Hall bonds of the City of Azusa authorized by the voters of said
city at the special municipal election held on the 15th day of
March, 1927, which notice was contained in said resolution and
was a part thereof;
WHEREAS, said notice was duly published in the form,
time and manner provided in said Resolution No. 972;
WHEREAS, pursuant to said notice, bids were received by
the Board of Trustees of said city up to 7:30 o'clock P. M.,
April 11th, 1927;
Whereas, said bids or proposals were publicly opened and
read by the City Clerk and Ex -Officio Clerk of the Board of Trustee
of the said City of Azusa and in the presence of said Board at
the time set for receiving said bids, to -wit: at the hour of 7:30
o'clock P. M. on the said 11th day of April, 1927; and that at
the said time set for receiving said bids Russell Sutherlin Co.,
Dean Witter Co., Security Co., Anglo London Paris Co.,First
Securities Co., William R. Staats Co., Sutherlin, Barry & Co.,
Pierce, Fair & Co., and The Detroit Co. and E• R. Gundelfinger
offered to purchase said bonds; the bid or proposal of the said
William R. Staats Co., being as follows, to -wit:
The Honorable Board'of•Trustees,
City of Azusa, California April 11, 1927
Gentlemen:
For :75,000 City Hall Bonds of the City of
Azusa, County of Los Angeles, State of California, of the denomina-
tion of X1,000 each, dated April let, 1927, maturing 42,000 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
494
MINUTES OF ADJOURNED REGUTAR MEETING, APRIL 14, 1927 1:00 P.M.4 95
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 delivery and
a premium thereover of 44,711.00
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 44,000 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. STARTS CO.
By John Earle Jardine, Jr.
WHEREAS, the best bid or proposal for the City of Azusa
is the said bid of Nilliam R. Staats Co., which bid or proposal
should be acdepted; and
WHEREAS, it is the desire of the Board of Trustees of said
city to accept the said bid of ililliam R. Staats Co.:
NOW, THEREFORE, BE IT RESOLVED that the bonds hereinabove
referred to be and they are hereby awarded and sold to said
William R. Staats Co., in accordance with and upon the terms and
conditions set forth in its bid or proposal dated the 11th day of
April, 1927, hereinbefore set forth; and
BE IT FURTHER RESOLVED that all other.bids for the
purchase of said bonds be rejected and that the checks of all
unsuccessful bidders deposited with their bids or proposals for
the purchase of said bonds be returned to the respective bidders.
Trustee Beck seconded the motion to adopt said resolution.
The President pro tem announced that the resolution had
been approved as to form by the City Attorney.
After a full discussion, the vote was taken on the adop-
tion of the resolution and resulted as follows:
AYES: Trustees: Howard, Beck, Meier and Chenoweth.
NOES; None.
ABSENT: Trustee: Durrell.
9HEREUPON, the President pro tem declared the resolution
unanimously adopted.
Moved by Trustee Chenoweth, seconded
by Trustee Beck/that the Board adjourn.
and carried
City Clerk of the City of Azusa.