Resolution No. 351
~ESOLUTION
&.n
No_____ 1
" A H.L.30LU1'ION O.l!' '.I.'i:..:; BOARD 0]' 'l'RUS'l'1d::S 0]' rj'liE
CITY 0]' VBRNON HRl.CTllm THb CITY CLElk. 1'0 },JjVLRTI:3b
.b'OB SAL1 S.u\..h:R BOllDS m' SAU CI1'Y ;,\lW TO NOnFY
1'd1. STA1'.i;; 1'liliAdUrj.m J<lHJ ~TA1'.L. BOARD OF CON'l':20L OF
r1'FJ..; STA'l'l:; OF CALIFORIJIA OF SUCH IR01?OSLD :3AL:':' AS
P.b;~U ILLD BY LA.". It
The Board of Trustees of the City of Vernon do resolve
as follows:
That the City Clerk be, end he is hereby directed to
publish by three insertions in the Los Angeles Daily Journal,
a newspaper of &Bneral circulation,published in the County
of Los Angeles, a notice inviting proposals to purchase
the 1Iwlicipa1 Improvement District No. 1 Bonds of City, to-wit:
Municipal Improvement District No. 1 Bonds in the amount
of ~150,OOO.OO. 3aid bonds are o1!-e hundred and fift~7 (150)
in number of the denomination of ~l,OOO.OO each, principal
and interest payable in lawful money of the United states.
The" f1!'€ dated March 1st, 1925 and bear interest at the rate
i:r 5} per cent per amum, payable semi-armually on the 1st day of
,Ji;,,f: t/",.oer s.nd the 1st day of Karch of each year.
Five (IS! of said bonds shall be raid I,:arch 1st, In5,
and five ([, ) of Grid bonds LIe.reh 1st. o:(,each year thereafter
until all of said bonds h<1ve been paid ~the City Treasurer
of the City of Vernon, together \.ith the interest on all sums un-
paid at such date.
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
v-ill be construed by the Boexd of 'I'm stees of said city to mean
pRr 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 srune explicitW or not.
Jith each proposal or bid must be subcitted a certified
check or cashier's check, drawn upon some D..<ink in the state of
California, Dayable to the 0 rdel' of the Ci ty 'l'reasUl'er of the
City of Ver~lOn. for the sum of Dollars
as a guarantee that the bidder will purchase and pay for said
bonds in accordance with his proposal in the event his bid is
accepted.
The Board of Trustees of said City reserves the right
,to reject any and all bids or proposals.
By orcler of the J30ard of Trustees 0 f the City of Vernon,
made at a regular meeting of said Board on February 26th, 1925.
1'. J. 1:!'UFLONG
City Clerk 0 f the City of
Vernon, California.
1.
.
And be it further resolved that the City Clerk
shall forthwith, by mail. postage prepaid. notify the state
Board of Control and the state Treasurer of such issuance
and sale of Bonds as required by Section 678 of the Political
Code of the state of California.
The City Clerk shall certify to the passage of this
Resolution and thereupon and thereafter the same shall be
in full force and effect. ~A~
Jf ~ /Tn (J-(.c...~
".'i.;,4d~Jl,~~.d thj,s. 2#l;J:lday of.~:tI.......-':-:t.
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Attest, ~
~, -~~ Vornon.
JTATl:.: O.P C./JJJIFOR1rIA
SSe
County of Los Angeles
I hereby certify that the foregoing Resolutianwas duly
passed by the 130ard of 'frustees 0 f the Ci tJ7 of Vernon, Cali-
forn. ia. and arproved by the President of said 130 erd at a.", /
regular meeting thereof held on the !t1:;, day of F...l" _~~./P"l~
1925, and that the same was passed b e following vote:
AYES: 4,. .." 1:.. 7 _It:~:.// ~a--clY-..J/
NO:b;S: A.-~
ABS:b;NT~ (
Approved this '1;t( day of"
es ent of the Board of Trustees
I
of the City of Vernon, California.
2.