Resolution No. 1493
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RESOLUTION NO. JL./ q3
RESOLUTION OF THE CITY CooNC IL OF
THE CITY OF VERNON, CALIFORNIA,
AWARDING $1,300,000 SEWAGE DISPOSAL
BONDS, 1950, OF SAID CITY TO THE
BEST BIDDER AND FIXING THE INTEREST
RATES THEREON.
WHEREAS, at the time and place fixed for the opening
of bids for the $1,300,000 SEWAGE DISPOSAL BONDS, 1950, of the
City of Vernon, to be issued as provided in Ordinance No. 634,
all bids were publicly opened, examined and read, and a tabu-
lation thereof has been entered in the minutes; and
WHEREAS, the bid of the bidder hereinafter named is
the highest and best bid made by a responsible bidder for said
bonds;
NOW, THEREFORE, the City Council of the City of
Vernon, California, DOES HEREBY RESOLVE, DETERMINE A,ND ORDER
as follows:
Section 1. That the bid
of B~1 ~
J/T6SIl. ~ ~
offering par, accrued interest to date of delivery, and a pre-
mium of $ ..5"7/ (')0 for said bonds, Bonds Nos. 1 to 130 ,
inclusive, to bear interest at the rate of :2.. ~ per annum,
payabl e semiannual1y, __ Bonds Nos. /3/ to ID liD , both
inclusive, to bear interest at the rate of 13/~ ~ per annum,
payable semiannuallY'Ais the highest and best bid for said
bonds. Said bid is hereby accepted and the bonds awarded to
said bidder in accordance with the terms of its proposal.
Section 2. That all bids, other than the one accepted
~ ~ ko. 104/ fi, /3fJo/ ~J'.~,I zi" ~~~7;tp
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in Section 1 hereof, are rejected and the City Clerk is
directed to return the checks accompanying said rejected
bids to the respective bidders.
Section 3. That the interest rates on said SEWAGE
5 h b b f. d ~8 follo~~..
DI~~qsAL BONDS, 19 0, be and t ey are ~ere y lxe
a:A" ~ rr.tvJ .<d:. U ~ ~~ I ~ .
~g9 ~l~bgpea 1 to , incl~si~e~ eflall ~ear intope~t At
thQ PfOltg Qf
01
fa p or
alLliLUl1, Vtt.y a.~lv 60!U:a.Llllu.ally, tlncl 13t)n~
-numbopod
to
, Both i1.cld~iv ~, ~Lall beel.! int CJPOU
..at tho P9.to Qf
% PQP ~nnum~ p~y~81c Bcmi9.nBual~y.
Section 4. The City Treasurer is hereby directed
to deliver said bonds to the successful bidder upon the pay-
ment of par, accrued interest to date of delivery, and the
premium above stated.
ADOPTED, SIGNED AND APPROVED this 27th day of June,
1950.
Mayor of the City of Vernon,
California.
ATTEST:
City Clerk of the City of
Vernon, California.
(SEAL)
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SSe
CITY OF VERNON )
I, G. A. ANDERSON, City Clerk of the City of Vernon,
California, DO IillREBY CERTI~I that the foregoing resolution
was duly adopted by the City Council of said City and was
approved by the Mayor of said City at an adjourned regular
meeting of said City Council held on the 27th day of June,
1950, and that it was so adopted by the following vote:
.AYES:
Councilmen
NOES:
Councilmen
ABSENT:
Councilman
(SEAL)
City Clerk of the City of
Vernon, California.
2.