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HomeMy WebLinkAbout93 - Sale of Bonds for a Channel in Newport Bayr 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 RESOLUTION NO. 93 A RESOLUTION OF THE CITY OF NEWPORT BEACH, BY THE LEGISLATIVE BRANCH THEREOF, TO WIT: THE BOARD OF TRUSTEES, SUPPLEMENTING RESOLUTION NO. 88 OF THE SAID CITY AND P90VIDING FOR THE SALE, AT PRIVATE SALE, OF CERTAIN BONDS THEREOF. The Board of Trustees of the City of Newport Beach cb resolve and declare as follows: Whereas, on the 22nd day of January, 1918, the Board of Trustees of the City of Newport Beach passed and adopted Resolutio No. 88 of said city, being a Resolution providing for the issuance and sale of the bonds of said city in the sum of $50,000 for the acquisition and construction in the City of Newport Beach of a mun icipal improvement, to wit: a channel in Newport Bay, prescribing the form of such bonds, fixing the rate of interest to be paid thereon, the date and place for the payment of said bonds, prin- cipal and interest, and further providing a sinking fund for the payment and redemption of bonds, principal and interest; and Whereas, pursuant to Section 9 of said Resolution No. 88 the Clerk of the City of Newport Beach, pursuant to Sec. 678 of the Political Code of the State of California, when said bonds were offered for sale, forthwith mailed, postage prepaid, a notice to the State Board of `'ontrol and State Treasurer of the State cff California the notice set forth and iqequired in said Sec. 678 of the Political Cale and did further offer said bonds for sale by publicLtion of notice of sale, as directed by the Board of TrustE of the City of Newport Beach, and Whereas, no bids or proposals for the purchase of said bonds were received by or filed with the City of Newport Beach under and pursuant to said notice or within the time provided thereby; Now, therefore, theiBoard of Trustees of the City of New- port Beach do hereby offer for sale32 of the municipal bonds of the City of Newport Beach in the denomination of $1,000.00 and 32 of the municipal bonds of the City of Newport Beach in the -1- 1 2- 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 As 29 30 �— 31 32 ation of $562.50 for the purpose of the acquisition and co nstructio of a municipal improvement in said city, to.witta channel in Newpor BW , at private sale and without otheror further notice or adver- tisement; the said bonds to be sold to the highest bidder but for not less than their par value and interest accrued thereon to the date of delivery of said bonds. The above and foregoing Resolution No. 93 passed and adopted by the Board of Trustees of the City of Newport Beach at a meeting thereof held on the 6th day of March, 1918, by the fol- lowing named members of said Board of Trustees, to wits Ayes, Trustees. H. A. Robinson, J. J. Schnitker, Geo. P. Wilson, J. C. McCain, J. P. Greeley Noes, Trustees: None Absent, Trustees% None The above and foregoing Resolution Nv. 93 approved by me this 6th day of March, 1918. Attest: J. Royal Lemon Clerk -2- H. A. Robinson President of the Board of Trustees t 7 STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss CITY OF NEWPORT BEACH) I, C. K. PRIEST, 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. 93 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 6th day of March , 19 18 , by the following vote, to wit: AYES, COUNCILMEN. H. A. Robinson, J. J. Schnitker Geo. P. Wilson, J. C. McCain, J. P. Greeley NOES, COUNCILMEN: None ABSENT COUNCILMEN: None Dated this �5 day of March 1955 s- City Clerk and Ex- Officio Clerk of the City Council, City of Newport Beach, State of California.