Loading...
HomeMy WebLinkAbout169 - Rate of Interest & Sale of Bonds at Private Salea1 2 Ar. 3 4 5 9 7 8 9 10 11 Z 0 12 e Z a 13 W 2 3 ° 14 m m J f w Q >O 15 a3Q Q'Q o a 16 N Z FD m 17 W 18 U 19 20 21 22 23 24 25 26 -A& 27 T629 28 30 31 32 I . , 4 - A Resolution No. 1 6� A Resolution of the Board of Trustees of the City of Newport Beach amending Sections 4 and 6 of Resolution No. 162 of said city concerning the rate of interest to be paidupon certain bonds thereof, and authorizing the sale of said bonds at private sale. Whereas, the Board of Trustees of the City of New o rt Beach, on the 27th day of March, 1922, passed and adopted Resolu- tion No. 162 of said city, fixing the rate of interest to be paid upon an indbbtedness of 6,21,000.00, to be represented by the muni- cipal bonds of raid city,for the construction of a bride in and for the city of Newport Beach; and Whereas, pursuant to Resolution No. 162, the said bonds wera offered for sale and no bids received therefor; Now therefore, the Board of Trustees of the City of New,.3ort Bench do rssolve, determine and declare as follows:- Section 1. Section 4 of Resolution No. 162 of the city of Newport Beach is hereby amended so as to read as follows: "The maximum rate of interest to be paid on the indebted- ness of 6,21,000.00 having been,in Ordinance No. 194 calling the special election under which the same w -is voted, fixed at six (6) per cent. per annur,, payable semi - annually, the Board of Trustees of the city of Newport Beach hereby orders that the rate of interest to be paid on the pr ncinal of the indebtedness to be incurred in the sumof $21,000.00, shall be and is hereby fixe' at the rate of six per centum per annum, payable semi - annually. and the sum of each sem.i- annual payment of interest shall be inserted in the appropriate interest coupons att-ehed to eaoh bond." 0 1 2 3 4 5 9 7 s 9 10 11 z 0 12 e z J a 13 w z 3 0 14 ' 0 15 Q J Z a 16 o N Z m 17 w 18 U 19 20 21 22 23 24 25 26 • z7 28 29 30 31 32 i • b t ' i Section 2. Section 6 of Resolution No. 162 of the city of Newport Beach is hereby amended so as to read as follows:- "All of the 21 bonds shall be dated the let day of April, 1922, and the principal sum thereof represented shall bear interest at the rate of six per eentum per annum from the let day of Apri1,19221, until all of said bchds, principal and interest, s'-all be well and truly paid. Section 3. The form of the bonds set forth in Section 9 of Resolu- tion No. 162 shall be and is berebyo changed by inserting therein the rate of interest of six per centum per annum in the place and stead of 5j per cent. Section 4. The Boar'[ of Trustees of the city of Newport Beach shall,without other or further advertisement therefor, proceed to sell the bonds of the city of Newport Beach in the sum of $21,000.00 at private sale, but for not less than their par value, and accrued interest at date of delivery. Section 5. The above and foregoing Resoluticn No. I-L4. was Passed and adopted an this, the 11th day of April, 19220 by the Boar.- of Trus- tees of the city of Newport Be ^ch and on said -iay signed and approv- ed by the President of the Board of Trustees, the :.rime being passed by the affirmative vote of the following named members of sc.id Board, to -wit: Ayes, Trustees J. P. Greeley, J. J. Sc`nitker, Goo. P. Vilson, Conrad Richter, 0. H. Burke. Noes, Trustees None Absent, Trustees None. The above and foregoing Resolution No. is approved by me, this 11th ,iay of April, 1922. -40 I A / Y 1 , • 2 3 _ resident of the Boa•d of Trustees 4 ` City of fiewport Beach. 5 vY 9tt.at: $ Clerk of the city of Neti"ort Beach 9 10 11 z 0 12 U z J a 13 w z 3 14 m m J f W Q 15 Q�z a o a 16 x � m h 17 w 18 U 19 20 21 22 23 24 25 26 • 27 28 29 30 31 32 �3 -• 9 t /v3 STATE OF CALIFORNIA ) COUNTY OF ORANGE ) CITY OF NEWPORT BEACH ) SS I, MARGERY SCHROUDER, City Clerk of the City of Newport Beach, California, do hereby certify that according to the records of the City of Newport Beach filed and ,maintained in my office, the foregoing Resolution No. 169 was duly and Board of Supervisors of regularly adopted, passed, and approved by the &ftXx2Q =?.k cxQftx the City of Newport Beach, California, at a regular meeting of Board said Rihytx€a m ik held at the regular meeting place thereof, on the 11th day of April s 1922, by the following vote9 to wit: TRUSTEES AYES, X7& : Greeley, Schnitker, Wilson, Richter, Burke NOES R iJM : None ABbENTI S,: +►Kn:y:�:: ►;:a None Dated this 22d day of December , 1958. City Cler an Ex- Officio Clerk of the City Council, City of Newport Beach, State of California.