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HomeMy WebLinkAbout137 - Sale of Municipal Bonds for Newport Bay Jetty1 • 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 COPY RESOLUTION NO. 137 �' A RESOLUTION OF THE BOARD OF TRUSTEES OF THE CITY OF NEWPORT BEACH, AS THE LEGISLATIVE BRANCH THEREOF, PROVIDING FOR THE SALE OF CERTAIN MUNICIPAL BONDS THEREOF AT PRIVATE SALE. ----------------- WHERAS, at a special election held at and within the City df Newport Beach on the 3Cth day of August, 1920, there was submitted to the qualified electors of said City the proposi- tion of incurring a bonded indebtedness in the sum of $5C,000.00 for the completion of the rubble mound jetty now constructed at the entrance to Newport Bay; and WHEREAS, two - thirds and more of all the voters voting at said special election voted in favor of incurring such indebt- edness and issuiAggthe bonds of the City of Newport Beach in the sum of $50,000.00 for that purpose; and WHEREAS,on the 15th day of September, 192C, the Board of Trustees of the City of Newport Beach passed and adopted Resolution No. 135, providing, among other things, for the issuance and sale of said bonds at public sale after adver- tisement for bids therefor, WHEREAS, due & dvertisement and notice of the offering of said bonds for sale has been given, made, and had, and no offer or bid for said bonds, or for any part thereof, has been made to or received by the City of Newport Beach: NOW THEREFORE, it is resolved and determined by the Board of Trustees of the City of Newport Beach as follows: SECTION ONE. "ithout further advertisement, publication, or notice, the Board of Trustees of the City of Newport Beach determines to sell and will sell at private sale to the highest bidder for cash the municipal bonds of the City of Newport Beach in the sum of $5G,C00.00 authorized by the qualified electors of -1- I 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 said City at the special election held on the Nth day of Augusts 1920, for the completion of the rubble mound jetty constructed at the entrance to Newport Bays but for not less than the parvalues of said bonds and all interest whioh shall accrued at the date of the delivery thereof. SECTION TWO. Any provision of Resolution No. 135 providing for the giv- ing of any notice or advertisement for bids prior to the sale of said bonds as in this Resolution provided fors is hereby repealed and set asides but in all other respects terms and provisions Resolblution No. 135 shall be and remain in full force and effect. The foregoing Resolution was passed at a special meeting of the Board of Trustees of the City of Newport Beach held on the 25th day of October, 1920, by the vote of the following named memberss of said Board of Trustees, to wit: AYES TRUSTEES: J.P. Greeley, J.J. Schmitken� Geo. P. Wilson, Conrad Richter, L.S. Wilkinson. ABSEET, TRUSTEES: NONE. NOES TRUSTEES: NONE. The foregoing Resolution being passed this 25th day of October, 1920, is signed by me. J.P. Greeley President of the Board of Trustees City of Newport Beach ATTEST: Alfred Smith Clerk of the City of egport Beach. -2- STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss CITY OF NEWPORT BEACH) Mae L. Hoit I, fxxXxxkR1-fff, 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. 137 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 25th day of October s 19 � by the following vote, to wit: AYES, COUNCILMEN: J.P. Greeley, J.J. Schmitken Geo. P. Wilson, Conrad Richter, L.O. "lilinson NOES, COUNCILMEN: None. ABSENT COUNCILMEN: None. Dated this 6th day of May y 19 55 City Clerk and Ex- Officio Clerk of the City Council, City of Newport Beach, State of California.