Resolution No. 355
R 11 SOL 0 ! 1 0 N ii35':>
.
BE IT llESOLVED:
That the City Clerk of the City of
Vernon. be. and he is hereby authorized ~d direoted to post
in the three following publio plaoes in the City of Vernon, to-
Wit: at the northwest corner of ~. 38th ~treet and ~anta Fe
Avenue; at the northwest corner of E. 37th Street and Santa P'e
Avenue; nnd at the entranoe o~ the Vernon City Hall, located at
the northwest corner of E. 38th street and Irving dtreet. there
being no newspaper of general oiroulation printed and publiehed
in the City of Vernon; and to publish two (2) times in the ~os
Angeles .Daily Journal a notice of 6a1e of Four Hundred 1!'ifty-
five ~housand Dollar. ($455,000.00) of Water Works Improvement
Bond., and fifteen Thousand Dollars ($15,000.00) of Fire Alarm
Improvement Bonds of the City of Vernon. authorized by the voters
of said City at a speoial eleotion held on the 27th day of
February, 1925, in the following form, to-wit:
"NOTICE OF SALE OF FOOR HUNDRZD
FIFTY-FIVE THOUSAND D01LARS
($455,000.00) OF WATER WORKS
IMPROV ii:l!ENT BONDS AIlD FIFTEEN
T;{.'eJSAIID DOLLARS ($15,000.00)
UF ~'IRE ALARM IMPROVEMEIlT BON DS
OF THE CITY OF VERNON."
Notioe is hereby given that sealsd bids will bs re-
ceived up to the hour of 10:00 o'clook a.m. on~
the;>:tt- day Of~ . 1925, by the Board of 'tru tees
of the City of vernon, and at that time publioly opened and read,
,
.ent 16%' per annum, payable semi-annually: both nrinoipal and
interest payable in lawful money of the United States at the
office of the ~reaaurer of the City of vernon.
Said Watsr
,
works Improvement Bonds are numbered from 1 to 480 both inolusive,
450 thsreof shall be of the denomination of fl,OOO.OO saoh, and
30 thsreof ehall be of the denomination of .166.66-2/3 eaoh;
that said Fire Alarm lmprovement Bonde ehall be 120 in number,
numbsred from 1 to 120 both inclusive, 80 thereof shall be of
the denomination of flOO.OO eaoh and 40 thereof of the denom-
ination of $175.00 each; principal and interest on said bonds
Of both kinde ehall be payable in lawful money of the United
States.
Said bonde ehall be dated lJaroh 1st, 1925, and bear
interest at the rate of not to exceed G% per annum, payable
semi-annually on the 1st day of September and the 1st day of
March of each year.
Sai d 480 Water Works Improvement Bonde Shall be
payable in the following manner: 15 of said Water WorkS
Improvememt l:Sonds of the denoml1'1Btlon of 41,000.00 each and
one of Baid Water ~Iorks Improvement Bonds of the denomination
of ~166.66-2/3 ehall be paid on the 1st day of Maroh, 1935,
and 15 of Sltid vve.ter WorkS Improvement Bonda of the denomi..
nation of ~l,OOO.OO eaoh and one of said Water Works Imnrove_
on the let day of
denomination of ~166.66-2/3 shall be paid
of each year
MarcE/thereafter, down to and including the
roent Bonds of the
1st day of 1~roh, 1964.
TWo of said Fire Alarm Improvement Bonds of the
Alarm Improvement Bonds of the denomination of 4175.00 each
will be paid on the 1st day of March of eaoh year thereafter,
down to and including the 1st day of March, 1955.
Said bonds of both kinds will be paid at the City
.
Treasury of the City of Vernon, together with the interest on
all sums unpai d.
Said bonds and the coupons attached thereto shall be
sUbstantially in the form provided in SIlid Ordinanoe No.3"? .
"
adopted March lOth. 1925.
Bonds will bs sold for eash only end at not less
than par, plue accrued interest.
Eaoh bid must state that
the bidder offers par plus acorued interest to the date of
delivery and state separately the premium. if any, offered for
the bonds bid for.
Each bid also must name the rate of interest
the bonds shall bear, upon which a bid ia offered, not exc88dlng
5)0 per annum.
Payment :for and delivery' of bonds will be made
in the office of the Treasurer of the City of Vernon, and cer-
tified or cashier's check in the amount 01 2~ of the amount of
s, id bonds, payable to the order of the 'treasurer of the Clty
of Vernon, must aocompany each bid as a guarantee that the
bidder will, if suocessful, accept an; pay for said bonds in
accordanoe with the terms of his bid and said check will remain
in the hands of the Board of Trustees until all of said bonds
are pat d for.
~eckS of unsuccessful bidders will be returned.
The ~oard of ~ruste.B reServes the right to reject
any and all bids.
The legality of the bonds will be approved by Gibson,
Dated this
ti
N-..day
of larch, lSE 5.
City of
Vernon.
I hereby certify that the foregoing is a full, true
and correct copy of a Resolution adopted by the Board of 0<
Trustees of the City of Vernon at its meeting of r~rch ~-;
1925, by the
following vote; to-wit:
FURLONG, f'UP"-ii\j
Ayes:
!{NIFFIN LEVV LEON~3
111'r\A P
rioee:
~
Absent:
"~4~'0
/.
..' City Cl~lr""Of the City of
Varnon.