Resolution No. 1002
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RESOLUTION NO. /tJOJ.
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A RESOLUTION OF THE CITY OF VERNON,
CALIFORNIA, AWARDING AND SELLING
BONDS IN THE SUM OF $10,000.00 of
VERNON SEWER DISTRICT NO. ONE, DESIG-
NATED AS tr CITY OF VE.'RNON SEWER DIS-
TRICT NO. ONE BONDS, ELECTION 1939."
WHEREAS, the City Council of the City of Vernon,
California, did on July 25, 1939, duly and regularly pass
and adopt Resolution No. 993 providing for the issuance
of $350,000.00 of bonds of City of Vernon Sewer District
No. One, designated as "City of Vernon Sewer District No.
One Bonds, Election 1939"; and
WHEREAS, the City Council of the City of Vernon,
California, did on this 17th day of August, 1939, duly and
regularly pass and adopt Resolution No. I~()I amending said
Resolution No. 993; and
WHEREAS, the City Council of the City of Vernon has
this date received a bid for certain of said bonds from
WM. T. JENNINGS, which is in words and figures as follows:
"August 17, 1939.
To the
City Council of the
City of Vernon
California
Sirs:
Of that certain bond issue, to wit: $350,000.00,
VERNON SEWER DISTRICT NO. ONE OF LOS ANGELES COUNTY,
dated March 1, 1940, and maturing Twelve Thousand
Dollars ($12,000.00) each year from Ma:rch 1, 1941
to March 1, 1960, inclusive, and Eleven Thousand
Dollars ($11,000.00) each year from March 1, 1961
to March 1, 1970, inclusive, with interest payable
semi-annually on the 1st day of September and on the
1st day of March, said bonds to be of the denomina-
tion of $1,000 each; for immediate acceptance, I
submit the following:
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For TEN THOUSAND DOLLARS ($10.000.00) bonds
maturing March 1. 1941. bearing interest at the
rate of four and one-half per cent. ( 4 1/2%)
per annum, being bonds Nos. 1 to 10, both inclusive,
I will pay par Ten Thousand Dollars ($10,000.00)
and accrued interest from the date of the bonds to
date of delivery.
I am attaching hereto a certified check in
the amount of One Thousand Dollars ($1000.00)
payable to the City Treasurer of the City of Vernon,
which check is to be retained by you to be applied
as part payment on the purchase price of these bonds
if I am the successful bidder, otherwise it is to
be immediately returned in the event my bid is not
accepted.
This bid is made subject to the unqualified
approving opinion of the legality of the bonds by
Messrs. O'Melveny, Tuller and MYers of Los Angeles,
California, which you agree to furnish without cost
to me, and you further agree to make application to
the State Banking Department for the certification
of these bonds as being legal for savings banks and
trust funds in this State.
Respectfully submitted,
WM. T. JENNINGS
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NOW, THEREFORE, the City Council of the City of
Vernon do resolve and order as follows;
Section 1. That said bid of WM. T. JENNINGS.
hereinabove set out, be and the same is hereby accepted, and
that said $10,000.00 of bonds designated as "City of Vernon
Sewer District No. One Bonds, Election 1939." dated, maturing
and bearing interest as specified in said bid, being bonds
Nos. 1 to 10, both inolusive, be and the same are hereby
awarded and sold to Wm. T. Jennings in accordance with the
terms of said bid.
Section 2. The City Clerk shall certify to the
passage of this resolution by the Council of the City of
Vernon, and cause the same to be posted in three (3) public
places located in the City of Vernon and likewise in the
City of Vernon Sewer District No. One, to wit; at the entrance
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of the City Hall of the City of Vernon, 4305 Santa Fe
Avenue; at the Northwest corner of 38th street and Santa
Fe Avenue; and at the Northwest corner of 37th street and
Santa Fe Avenue. This resolution shall take effect tmme-
diately.
PASSED AND ADOPTED by the City Council of the
City of Vernon, California, and approved by the Mayor of
said City, this 17th day of August, 1939.
Mayor
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STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES) SS
CITY OF VERNON
I~ T. J. FURLONG, City Clerk of the City of Vernon,
C,-lifornia, do certify that the whole number of members
of the City Council of said City is five; that the fore-
going resolution, being Resolution No. 1(/ (j;{ ~ was
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passed and adopted by the said City Council~ approved
and signed by the Mayor, and attested by the City Clerk
of said City, all at an adjourned regular meeting of the
said City Council held on the 17th day of August, 1939,
and that the same was so passed and adopted by the following
vote:
AYES: COUNCILMEN
Peralta, Leonls, Furlong
NOES: COUNCILMEN
None
ABSENT: COUNCILMAN
Levy~ Scheider
( SEAL)
ernon,
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STATE OF CALIFORNIA
Coun~ of Los Angelea
CITY OF VERBON
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I,"'. 3. PURJ:.,OIG_ Clty Clerk or the 01ty of
Vernon. tlo b.erebycertlty that Idld, 011 tb.el'Tth day of
August, 1939,. post tln'-ee (3) identicalcopl.. o.f'Resolu-
tlonlo_1002 ,all a4opt$d by the City Councl1 of said
01ty on. tb.e17thda7 of Augullt. 1939 _ in tbe following
plac.., to wit.. .At the entrance of t~ 01 t,. Ballot
the Cl~ of v.mon, 4305 Santa Fe Avenue; at th. north-
..e.t corner of' 38th street and Santa Fe Avenu.Jatthe
l1orthw..tco~.r or 3'1th Street and. Santa .~Av.nu..
aU 1ft tbe Clty of vernon Se..er Distrlct Bo. One, there
belng no ne.pap.r of general Circulation pr111ted and
publIshed in the Clt.,. of Vernol1.'.
S1pe4tb.ls 17th day of August,. 1939.
on.
SubscrIbed. and _om to before me.
'l.h da10f A.~st,. 1939.
Botal'T PUblic In....ana.tor said
County and St.a te..
},fycomml.slonexp1res Mar. 10, 1941.
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