HomeMy WebLinkAbout523-1/2 - Purchase of Bonds for Municipal Improvement District 7• 11
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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.
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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."
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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.
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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