Resolution No. 743
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RESOLUTION NO. 743
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3 A RESOLUTION OF TBJ:!: CITY COUNCIL OF THE CITY OF VERNON AUTH-
ORIZING THE SALE OF $60,000.00 IN BONDS TO WEEDEN &: CO., OF
4 LOS ANGEIJ!:S, CALIFORNIA.
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6 The City Council of the City of Vernon does resolve as follows:
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\VHEREAS, the qualified electors of the City of
Vernon did on tlle 10th day of September, 1930, author ue the
issuing of $3,900,000 in bonds for the purpose of acquiring,
constructing and completing a certain revenue producing munic-
ipu improvement, as set forth in Ordinance, 430; and
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VlHlmEAS, the City Coun,cil of the City of Vernon has
heretofore sold 13,450,000 worth of said bonds at private. 8&1.e;
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and
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WHEREAS, it, is the opinion of the City Council of
the City of Vernon that it is to the best interest of the City
of Vernon to sell at this time $60,000.00 worth of sa.id bonds
atpr ivate saJ.e; and
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Wl1EREA.8, Weeden &: Co., of Los Angeles, California,
21 have agreed to purchase $60,000.00 worth of said bonds (bearing
22 interest at the rate of five and three-quarters CSf) p,~ cent
23 per anntUll, payable semi-annua.lly on April 1st and October 1st
24 of each year, at par and accrued interest l said bonds being
25 dated October 1, 1930, and being numbered :5647 to 37~, both
26 inclusive., and payabl.e: $60,000.00 October l, 1966; and
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VlBEREAS, in the opinion of the City Council this is
28 the highest and best offer obtainable;
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liON, TImBEFORE, m: IT RESOLVED:
Sect ion l.: That the offer of Weeden &: Co., of Los
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31 J\ngel.ee, California, be accepted, and that $60,000.00 worth
32 of said bo~s be sold to said Weeden &: Co., of Los Angeles,
at par a.nd accrued interest; that the Mayor of the said City
be authorized, instrueted a.nd empowered in the name of the
City to enter into all neeessa.ry contracts to carry out this
sale upon the deposit by Weeden & Co., of Los Angeles, Ca.li-
fornia, of a certified. check fo~!~f~) per cent' of the
totaJ. par va.lue of' said bonds.
Section 2: That the City Clerk of the City of Vernon
is directed to eertif'y to the passaoge of this. Resolut ion and
thereupon the same shall be in full farce and effect.
Adopted and
1934.
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STATE OF CAL IFORNIA )
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County of Los Angeles )
I. T. ;T. FURLORG, City Clerk o.f the City of Vernon,
do hereby certify that the foregoing Resolution No. 743 was
duly adopted by the City Council of the City of Vernon, and
approved by the Mayor of said City, a.t a.n adj ourned regular
meeting thereof held on the 10th d~pf)Februa.ry, ~934.
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