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HomeMy WebLinkAbout535 - Harbor Improvement Bonds1 , ,� . rtESOLUTIOr� �a: 536' A RESOLUTION OF THE CITY 04UNCIL AND .HOARD OF TRUST^ � 6 OF THE CITY OF NPs`. +PORT BEACH.. CALIFORNIA, DECLARING ITS INTENTIOW TO SELL T90 UMRED THOVSASD DOLIARS (`x200,000.) OD BONDS DESIGNATED AS "NEUPORT BEACH HARBOR IMO'VEMENT BONDS, 1929." f i� 7MMAS, it is contemplated by the City Council and. Board of Trustees of the City of Newport Beach to adopt an ordinance providing that bonds of the said City shall be issued in the aura of two hundred thousand dollars (0200,000.00), for the acquisition and completion of a certain municipal Improve- ment, to -wit, the Improvement of the municipal harbor; and 47HEREAS, it is deemed advisable that the said City sell and dispose of said bonds in the amount of two hundred thousand dollars (0200,000.00); NOTt THEREFORE, Br IT RESOLVED,, DETERMINED AND DE- CLARID.by the City Council and Board of Trustees of the City of Yeraport Beach as follows: Section 3. That It is the intention of the City Council and Board of Trustees of the City of Newport Beach to issue and sell Newport Beach Harbor Improvement Bonds, 1929, in the amount of two hundred thousand dollars 0'7200,000.00) at public sale on the 19th day of November, 1929, at 7:30 0clock P,Yt., and that bids shall be called for with instructions for the bidder to state the rate of interest, not exceeding six per cent (6;;) per annum, payable semi- annually, at which they propose to purchase said bonds, providing that th© sane rate of interest shall be designated for all of said two hundred thousand dollars (0200,000.00) of bonds by the purobaser there - or. Section .2. That tho City Clerk of the City of Newport Beach be and he is hereby.direeted to:advertise for the sale of said two hundred thousand dollars MADO'..000.00) -1- i 0 10 N .J of bonds by causing a notice inviting sealed proposals to be published In the Newport News, a weekly newspaper, for two (2.) successive weeks; that said notice shall be substantially in the following form: NOTICE INVITING SEALED PROPOSALS FOR THE PtJRCHASE OF 0200,000.00 OF BONDS OF THE CITY OF NEIRPORT BEACH DESIGNATED AS "NEUPORT BEACH HARBOR IMOVEMENT BONDS, 1929:" Sealed proposals will be received by the undersigned City Clerk of the City of Newport.Beaoh, State of California, at the office of said City Clerk in the City ;Sall in the City of Newport Beach, California, until the hour of 7:30 o1clook P..M., November 18, 1929, for the purchase of the following bonds; Two Hundred Thousand. Dollars (0200,000,00) of bonds Of the City of Newport Beach designated "'Newport Beach Harbor Improvement Bonds, 19290. Said Two Hundred Thousand Dollars (0200,000.00) of bonds shall be two hundred (200) in number, of the denomina- tion of one thousand dollars (y1,000.00) each, dated a=y V , 19290 and shall be distributed over a period of years,; said bonds shall be numbered and mature as / follows: � �eowG�o � //�/i IO . L�-.- a- *�a�.u,w.✓-ri.r,- t- a.�iL.,,g dD..ccLe«.&tipl -�f30 �R �0 �'�+ -� i+'vvuY..,O`�tlA" eov✓le -ew rnw�M.r..L uiv �.ci:�.��/ /.yT,G.�t7a'h Aye(/ /I�o Said bonds shall bear interest at a rate not exceeding six.per cent (8 %) per annum, payable semi - annually, which shall hereafter be fixed by the City Council of said City, and bidders -2- u 0 F7, are requested to state the interest rate upon which the bid is made,, using the same interest rate For all of said two hundred thousand dollars (0200,000.00) of bonds,; but that different rates of interest may be submitted by the same bidder. Said bonds are issued pursuant to an act entitled "An Act Authorizing the Incurring of indebtedness by Cities, Towns and Mmicipal Corporations for Municipal Improvements and Regu- lating the Acquisition,, Construction and Completion thereof ", which became a law Fsbruary 25, 1901,, and all acts amendatory thereof,, and by virtue of and in compliance with the constitu- tion and larrs of the State of California and the OrdirAnce of the City of Newport Beach. Each proposal "lust be accompanied by a certified check drag upon some responsible Bank of tho State of California and payable to the City 'Treasurer of the City of Hewport Beach in the sum of .-���a percent (21t) of the amount of the bonds bid upon,, as a guarantee that the bidder will pur- chase and pay for said bonds in accordance with his proposal in the event that such bid is accepted, The City Council and Board of Trustees of the City of Tuniport Beach reserve the right to reject any and all bids.. By order of said City Council and Board of Trustees of the City of Dowport 'Beach, California. (Seal) alty cleric or Une Ulty or ewpor Beach, California. 3ea�tionn13, The City Clerk shall certify to the passage and adoption of this resolution, shall cause the same to be -S- �l • entered In the Book of Resolutions of said City, and shall make a minute of .the passage and adoption thereof in the Hinutes of the meeting of the said City Council and Board of-Trustees of said City at which the same is passed and adopted. PASSED, APPROVED AND ADOPTED this ? day of October, 7.929. Attest: r '� 6. 14i��M �C •• r Mayor of and res en of oar of Trustees of the City of Newport Beach, California* .4. Y 9 t C CLERKIS CERT37ICATE STATE OF CALIFORNIA, County of Orange, )ss. City of Newport Beach, } City Clerks of the City of Newport Beach, do hereby certify that the full number of members of the City Council and Board of Trustees of said , City of Newport Beach is five (b) and that the foregoing resolu- tion, being Resolution Not 5 365 , was duly passed, approved and adopted by said City Council and Board of Trustoos, approved and signed by the Mayor of and President of said City Council and Board of Trustees and attested by the City Clerk at a regular (adjourned) meeting of said City Council and Board of Trustees held on the 28th day of Gtober, 1929, and that said resolution was passed by the following vote, to -wit: AY oat Councilmen: (seal) Noe s0, Cou cilmow Absents Councilmen: s or Ene City or Newport Beach, California, w.