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HomeMy WebLinkAbout523-1/2 - Purchase of Bonds for Municipal Improvement District 7• 11 2i • 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 ROI ND THOMPSON ATTORNEY AT L.W SANTA AN.. CALIF. D 41 k RESOLUTION NO. 6 023 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH, ACCEPTING A CERTAIN PROPOSAL OF WHEELOCK AAD COMPANY, FOR THE PURCHASE OF $36,000.00 BONDS OF MUNICIPAL IITROVEMtENT DISTRICT NO. 7 OF THE CITY OF NEWPORT BEACH, AND ACCEPTING THE BID FOR SAID BONDS OF SAID WHEELOCK AND COMPANY, WHICH BID WAS MADE PURSUANT TO NOTICE GIVEN BY THE CLERK OF THE CITY OF NEWPORT BEACH IN ACCORDANCE WITH RESOLUTION NO. 523 OF SAID CITY: WHEREAS, the City Clerk of the City of Newport did pursuant to Resolution No. 523 of the City of Newport Beach duly publish notice inviting sealed proposals or bids for the purchase of certain bonds of Municipal Improvement District Na. 7 of the City of Newport Beach; and WHEREAS, the Clerk of said City of Newport Beach did in said notice so published, fix the 26th day of August, 1929, at the hour of 7:30 o'clock P. M. at the City Hall in the City of Newport Beach, as the time and place for the receiving of said sealed proposals or bids for the purchase of $36,000.00 bonds of Municipal Improvement District No. 7 of the City of Newport Beach; and WHEREAS, certain sealed bids or proposals were received by the City Council of the City of Newport Beach at t time and place aforesaid; and PHEREAS, the City Council of the City of Newport Beach did in open session at an adjourned regular meeting of held on the said 26th day of August, 1929, publicly open, examine and declare all sealed proposals or bids for the pux- chasing of the $36,000.00 bonds of Municipal Improvement Dis- trict No. 7 of said City of Newport Beach. 0 1 2 0 i 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 24 25 26 27 28 29 30 31 32 ROLAND THOMPSON ATTORNEY AT LAW SANTA ANA. CALIF. C % NOW, THEREFORE, the City Council of the City of Newport Beach do resolve as follows: Section 1. That this Council hereby finds and declares that Wheelock and Company, is the highest bidder for said $36,000.00 bonds of Municipal Improvement District No. 7 of the City of Newport Beach, and the highest regular, responsible bidder for the purchase of said $36,000.00 bonds of Municipal Improvement District No. 7 of said City of Newport Beach, and this Council hereby accepts the proposal and bid of said Wheelock and Company, at the prices named in their bid and upon the terms and conditions therein stated, which said bid is in words and figures following, to -wit: "For $36,000 par value bonds of 11unicipal Improve- ment District No. 7 of your city, bearing interest at the rate of 6% per annum, payable semi - annually, due and payable as follows: ;2,000 each year beginning September 1, 1930 until all paid. we will pay you the par value thereof and accrued interest to date of delivery and a premium of $620. Prior to delivery of bonds and payment therefor the Board of Supervisors is to furnish a certified transcript of the legal proceedings pertaining to this bond issue which shall show their legality to the satisfaction of our attorneys and furnish such other legal proceedings as they may require for this purpose We deposit herewith cashier's check in the sum of $800, as a guarantee that we will accept and pay for said bonds in accordance with the terms of this bid. Respectfully submitted, ,IHEELOCK & COMPAHY By - (signed) C. B. L'IRTIN." 0 1 2 0 • • 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 All other bide for said purchase of said $36,000.00 bonds of Municipal Improvement District No. 7 of the City of Newport Beach, are hereby rejected and the City Clerk of the City of Newport Beach is hereby directed to return to the respective bidders all checks accompanying said rejected bids. BE IT FURTHER RESOLVED: that the said bid of said Theelock and Company, is in all respects regular and in accord- ance with Resolution No. 523 of the City of Newport Beach, and the notice given pursuant thereto by the Clerk of the City of Newport Beach, anct that said bonds of said Municipal Improve- ment District No. 7 of the City of Newport Beach, were sold at par value, plus accrued interest from date of the bonds to the date of delivery, together with a premium of $_&20.00 ; and BE IT FURTHER RESOLVED: That the proceeds of the sale of such bonds shall be placed in the Treasury of the City of Newport Beach to the credit of the Municipal Improvement District No. 7 Fund, and shall be applied exclusively to the purposes and objects mentioned in the Ordinance ordering the holding of the bond election, being Ordinance No. 362 of the City of Newport Beach, ann to the incidental expenses in connection therewith. RO"ND THOMPS ATTORNEY AT LAW -{J- .ANTA ANA. CALIF. • • • 11 2 3 4 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 ROLAND THOMPSC ATTORNEY AT LAW 9AHTA Axh CALIF. .r , I hereoy certify that the foregoing Resolution was regularly introduced and passed by the City Council of the City of Newport Beach at an adjourned regular meeting thereof held on the 26th day of August, 1929, by the following voce, to —wit: y�AYES, COUNCCILMEN: "�„lif/.�CO� NOES, CUUNCiLIAEN* `%�%r�'re ABSENT, COUNCILKENI : 2Gv� c ATTEST: y Cler of the City of Newport Beach Mayor of the City of Newport Beach