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HomeMy WebLinkAboutCity Council - 374 • RESOLUTION NO. 374 A RESOLUTION OF THE BOARD OF TRUSTEES OF THE CITY OF HUNTINGTON BEACH, DECLAR- ING THEIR INTENTION TO SELL BONDS. WHEREAS, it is necessary for the carrying out of the purposes set forth in Ordinance No. 237 and Ordinance No. 238 of the City of Huntington Beach, passed and adop- ted at a regular adjourned meeting of the Board of Trustees of the said City on the 13th day of March, 1922, to issue and offer for sale and to sell the bonds in said Ordinance No. — 237 and Ordinance No. 238 ordered to be issued as hereinafter mentioned. THEREFORE BE IT RESOLVED, that it is the intention of the Board of Trustees of the said City of Huntington Beach to issue and sell all of said Bonds by said Ordinance No. 237 and said Ordinance No. 238 directed to be issued, to-wit: "Huntington Beach City Hall Bonds, 19220, "Huntington Beach Fire Apparatus Bonds, 1922", and "Huntington Beach Public Hall Bonds, 1922", in the number and of the denominations as in said ' Ordinances No. 237 and 238 , set forth; and BE IT FURTHER RESOLVED, that the City Clerk of said City do and he is hereby directed to advertise for sale to the highest bidder, the entire issue of said Bonds in conformity • with that certain "Notice Inviting Sealed Proposals", for at least Ten (10) days in the Huntington Beach News, a weekly newspaper,, published and circulated in said City of Huntington Beach and by such other notices as said City Clerk may be ad— vised as most likely to give notice to prospective purchasers, and BE IT FURTHER RESOLVED, that said sale of said Bonds be had at the time and in the manner and under the conditions set forth in the following Notice Inviting Sealed Proposals: NOTICE INVITING SEALED PROPOSALS NOTICE OF THE SALE OF BONDS OF THE CITY OF HUNTINGTON BEACH, CALIFORNIA Sealed proposals will be received by the undersigned City Clerk of the City of Huntington Beach, Orange County, California, at the office of the said City Clerk until the hour of 7:30 P. M. of Monday, the 24th day of A-pril 1922, for the purchase of the following bonds: 1. Bonds in the stun of $60,000.00 designated as "Huntington Beach City Hall Bonds, 1922", which said Bonds shall be 60 in number and of the denomination of $1,000.00 each. 2. Bonds in the sum of $10,000.00, designated as "Huntington Beach Fire Apparatus Bonds, 1922" , which said Bonds shall be 10 in number and of the denomination of $1,000.00 each. 2. i 3. Bonds in the sum of $25,000.002 designated as "Huntington Beach Public Hall Bonds, 1922" , which said Bonds shall be 20 in number and of the denomination of 1,250.00. All of said Bonds shall be dated the lst day of May, 1922, and shall be payable at the office of the City Treasurer, in the City of Huntington Beach, California, on the 1st day of May of each year beginning May, 1923; all of said Bonds shall bear interest at the rate of 6fo per annum payable semi-annually on the 1st day of May and on the 1st day of November of each year and every year, beginning November 1, 1922, at the office of the City Treasurer of the City of Huntington Beach, Calif- ornia, and the principal and interest thereof shall be payable in lawful money of the United States at the office of the City Treasurer of the City of Huntington Beach, California. Said "Huntington Beach City Hall Bonds, 1922", and said "Huntington Beach Fire Apparatus Bonds, 1922", are to be issued in accordance with the provisions of an Act of the Legislature of the State of California, entitled, "An Act Authorizing the Incurring of Indebtedness by Cities, Towns and Municipal Corporations for Municipal Improvements and re- gulating the Acquisition, Construction, and Completion thereof", which became a law, February 25, 1901, and all Acts Amendatory thereof or Supplementary thereto, and the laws of the State of California, governing Cities of the Sixth Class, and all ordinances of said City of Huntington Beach. Said "Huntington Beach Public Hall Bonds, 1922" are to be issued in accordance with an Act of the Legislature of 3. i • the State of California, entitled, "An Act Authorizing the In- curring of Indebtedness by Cities, Towns and Municipal Corpora- tions for Municipal Improvements and regulating the Acquisition, Construction, and Completion thereof", which became a law February 25, 1901, and in accordance with the provisions of an Act of the Legislature of the State of California, entitled, "An Act Authorizing Cities, Towns and Municipal Corporations to Establish and Maintain Public Assembly and Convention Halle and Incur .Indebtedness for such Improvements" , which became a law March 25, 1903, and all Acts Amendatory thereof or Supple- mentary thereto, and in accordance with the Laws of the State of California governing Cities of the sixth class, and all ordinances of said City of Huntington Beach. - Two of said "Huntington Beach City Hall Bonds, 1922" shall be payable each year; one of said "Huntington Beach Fire Apparatus Bonds, 1922", shall be payable each year, and one of said "Huntington Beach Public Hall Bonds, 1922"t shall be pay- able each year. Proposals will be received for all or any portion of said Bonds. Said Bonds will not be sold for less than their face value, together with accrued interest to date of delivery of said Bonds. Each proposal must be accompanied by a certi- fied check drawn on some responsible Bank of the State of Calif- ornia,, and payable to the City Treasurer of t he City of Hunting- ton Beach for the sum of Two thousand Dollars ($2,000.00) as a guarantee that the bidder will purchase and pay for said Bonds in accordance with his proposal in the event such bid is accepted. 4. Proposals will be addressed to the City Clerk of said City of Huntington Beach and will be endorsed., "Proposals for Purchase of Bonds" . The Board of Trustees of said City reserve the right to reject any and all bids and to waive any formality in any bid as the interest of said City may require. By order of the Board of Trustees of the City of Huntington Beach, Orange County, California, made at its regu- lar meeting held on the day of March, 1922. City Clerk of the City of Huntington Beach, California. The foregoing Resolution was adopted at a regular meeting of the Board of Trustees of the City of Huntington Beach held on the 27th- day of March, 1922, by the affirmative vote of at least four trustees, to-wit: AYES:- Obarr, Onson, Andrews, Drew, Manning NOES: None ABSENT:- None Ed Manning President of the Board of Trustees of the City of Huntington Beach, California. ATTEST.* Chas. R. Nutt City Clerk and Ex-officio Clerk of the Board of Trustees of the City of Huntington Reach, Calif. 5.