Resolution No. 730
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RESOLUTION NO. 750
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A mcsOLUTION OF THE CITY COUNCIL OF THE CITY OF VERE'0li AUTR-
ORIZIltG TEE SA.11C OF 1150,000.00 :m BONDS TO TEE FmST U-
TIONAL BANK OF VERNON_ CALIFORNIA.
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The City Council of the City of Vernon does resolve &s follows:
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VlliICJo1RAS. the qualified elector1J of the Cit.y of
Vernon did on the 10th day af September, 1930, author ia&
the isatting of $3,900,000 in bonds for the purpose of acquir-
ing, constructing and completing a ee:rtaf.n revenue produc:ing
municipal. improvement, as set forth in Ord.ina.nce 430: and
fH~HEA.S. t.he: City Council of the City of Vernon
has heretofore sold $3,000,000 worth of said. bonda at private
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sue; and
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~, it is the opinion of the City Council of'
the City of Vernon that it is to the bes-t interest of the City
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of Vernon to sell at this time $150,000.00 worth of said bonds
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of Vernoll, a national banking corporation, be a.ccepted and that
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1150,000.00 \vorth of sa.id 'bonds 'be sold to said The First
National Bank of Vernon a.t par and acc:rued interest; thd
the lIayor of the sa.id City be authoriz.ed, ir.urtrue'ted and em...
pOller-ed in the name of' the City to enter into all neee-ssary
contraets to carry out this sale upon t.he deposit 'by The
First Rational Ba.nk of. Vernon of a. eertified chec.k for' three:
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(5%) per eent of the total par value of said bonds.
Sec.'t ian 2: 1'hat the 01 ty Clerk of the City of' Vernon
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10 thereupon the same shall be in full foree and ef':tee:t.
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Adopted and approved this
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ernon
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STATE OF CALIFORNIA )
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County of Loe Angeles )
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I, T. ;f. FURLONG, City Clerk of the. City o.f Vernon,
do he;reby eert1f'y that the foregoing Reso.lut ion No. '130 waa
du~ adopted by the City Council of the City of Vernon, and
e.pproved 'by the Mayor of said Cit.~. '.. a......t...... '. oUI'.ned regular
23 meeting thereof held on the 18th . '. .. . ,193$.
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