HomeMy WebLinkAbout92 - Sale of Bonds for a Jetty•
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RESOLUTION NO. 92
A RESOLUTION OF THE BOARD OF TRUSTEES OF THE CITY
OF NEWPORT BEACH PROVIDING FOR THE SALE OF CERTAIN
BONDS OF SAID CITY AND AMENDING SEC. 8 OF RESOLUTION
NO. 61 OF THE SAID CITY OF NEWPORT BEACH.
Resolved by the Board of Trustees of the City of Newport
Beach, as follows:-
Whereas, on the 23rd day of November, 1916, the Board of
Trustees of the City of Newport Beach passed and adopted Resolu-
tion No. 61 of said city, providing for the issuance and sale of
the bonds of said city in the sum of $125,000.00 for the purpose
of the acquisition and construction in the city of Newport Beach
of a municipal improvement, to -wit: a jetty; and
Whereas, the said $125,000.00 was represented by 256 bonds
of the City of Newport Beach) designated "Jetty Bonds" 96 of sail
bonds being in the denomination of $1,000.00; and 32 of said bonds
in the denomination of $500.00, and 96 of said bonds in the denom-
ination of $106.25, and
Whereas, pursuant to said Resolution No. 61 the City of
Newport Beach did heretofore offer for sale and sell and deliver
to a purchaser 208 of said bonds, being jetty bonds Nos. 1 to 208,
both inclusive, and representing the sum of $101,562.50 and
Whereas, there now remains in the treasury of the City of
Newport Beach 48 of said Jetty Bonds, being Nos. 209 to 256, both
inclusive, representing the sum of $23,437.50, which remains un-
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Whereas, the City of Newport Beach desires to sell said
remaining 48 Jetty Bonds for the purpose of obtaining money to
carry on and complete the acquisition and construction of the mu
cipal improvement for which said 256 bonds were issued, to -wit:
the acquisition and construction of said Jetty in the City of
Newport Beach; and
Whereas, pursuant to Sec. 8 of said Resolution No. 61 the
City of Newport Beach has offered the said 48 Jetty bonds for sale,
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and has advertised for sale the said 48 bonds, and has failed
I to obtain and has not obtained any bid or bidders for said bonds;
Now therefore, pursuant to Sec. 6 of an Act of the Legis-
lature of the State of California, entitled: "An act authorizing
the incurring the indebtedness by cities, towns and municipal cor-
porations, for municipal improvements, and regulating the acqui-
sition, construction or completion thereof" the Board of Trustees
of the City of Newport Beach do hereby determine to sell the said
48 Jetty Bonds representing $23,437.50 at private sale without
other or further advertisement for bids thereon, but for not less
than their par value and the interest which has accrued and
lated on the money represented by said 48 Jetty Bonds. And that
portion of Sec. 8 of Resolution N.. 61 of the City of Newport B
insofar as the same effects the sale of said 48 Jetty bonds and
provides for the advertising for sale thereof and requiring a cer-
tified check of 2% of the amount of the bid, is hereby repealed
and set aside; but the said Resolution No. 61 in all other respects
shall remain in full force and effect and the said Sec. 8 thereof
shall also remain in full force and effect in so far as the same
relates to the other 208 of said Jetty Bonds representing $101,562.
The above and foregoing Resolution was adopted by the Board
of Trustees of the City of Newport Beach at a regular meeting
thereof held on the 22nd day of January, 1918, by the following
named members of said Board of Trustees.
Ayes, Trustees: Geo. P. Wilson, J. C. McCain, J. J. Schnitker,
J. P. Greeley.
Noes, Trustees: None
Absent Trustees: H. A. Robinson
The above and foregoing Resolution is approved by me this
22nd day of January, 1918.
Geo. P. Wilson
President pro tem of the
Board of Trustees City of New -
Port Beach
Attest:
J. Royal Lemon
Clerk of theCity of Newport Beach
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STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF NEWPORT BEACH)
I, C. K. PRIESTS 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 main-
tained in my office, the foregoing Resolution No. 92
was duly and regularly adopted, passed, and approved by
the City Council of the City of Newport Beach, California,
at a regular meeting of said City Council held at the
regular meeting place thereof, on the 22 day of
January _ , 19 18 , by the following vote,
to wit:
AYES, COUNCILMEN: Geo. P. Wilson, J. C. McCain, J. J.
Schnitker, J. P. Greeley.
NOES, COUNCILMEN: None
ABSENT COUNCILMEN. H. A. Robinson
Dated this 25 day of March 1 19 55
t - City Clerk and Ex- Officio Clerk
of the City Council, City of
Newport Beach, State of California.