HomeMy WebLinkAbout137 - Sale of Municipal Bonds for Newport Bay Jetty1
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COPY
RESOLUTION NO. 137
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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.
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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
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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repealed and set asides but in all other respects terms and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.
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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.