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RESOLUTION NO. BL
RESOLUTION OF THE CITY OF
NEWPORT BEACH A ARDING BONDS
TO PURCHASER AND FIXING
INTEREST RATE THEREON.
WHEREAS, the City of Newport Beach is authorized
to issue $p300,000.00 of bonds for sewer purposes and has
taken b p
ids for the purchase of $200,000.00 thereof, and
V` %V%M- R. )taOls CO-, a4 A �kuT4Iej d COy
R° {� T.`, Ga ` Ou`sY has bid the price of par,
accrued interest at the rate of % per annum, and a
premium of $ 9,, 628,00 for said $200,000.00 of bonds,
said bonds to bear interest at the rate of % per annum,
payable semiannually, and said bid is the best bid received
for said bonds.
NOW, THEREFORE, the City Council of the City of
Newport Beach does hereby resolve as follows:
Section 1. That $200,000.00 of bonds of said city,
designated "MUNICIPAL SEWER BONDS 1936;'dated September 1,
1936, and maturing $10,000.00 annually each year from Septem-
ber 1, 1937 to September 1, 1956, both inclusive (the bonds
so sold being the first ten bonds in numerical order in each
of such years) and bearing interest at the rate of %
per annum, payable semiannually be and the same are hereby
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awarded and sold to X'Lt\ % (2
, .„.t .� upon the terms
stated in the aforesaid bid for said bonds, and the City
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Clerk is hereby directed to deliver said bonds to�attiKS•Numr� "1Ico,
upon payment to the City Treasurer by said
purchaser of the purchase price, to -wit, par, accrued inter-
est to date of delivery, and a premium of,�
All other bids for said bonds are hereby rejected.
Section 2. That the said $200,000.00 of bonds above
•
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mentioned shall bear interest at the rate of �q % per
annum, payable semiannually, and said rate of interest is
hereby fixed for said $200,000.00 of bonds.
ADOPTED, SIGNED AND APPROVED this day of
September, 1936.
Mayor df the City of Newport
TES Beach.
City Clerk
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF NEWPORT BEACH)
I, FRANK L. RINEHART, Clerk of the City of Newport
Beach, do hereby certify that the above and foregoing resolu-
tion was duly adopted by the City Council of Newport Beach
at its regular meeting held on September 8, 1936, by the
following vote, to-wit: /� c
AYES: �6crdoT, eu;ts, W���Sen� -&A+Ield' 4Wa-n1S0-n.
(SEAL)
NOES : T 0-ne..
ABSENT: r y0-ge -.
STATE OF CALIFORNIA )
- - COUNTY OP ORANGE ) SS
CITY OF NEWPORT BEACH)
City Clerk
I, FRANK L. RINEHART, Clerk of the City of Newport
Beach, do hereby certify that the above and foregoing is a
full, true and correct copy of a resolution of the City
Council of the City of Newport Beach, and that the same has
not been amended, rescinded or repealed.
Dated: September, 36.
(SEAL) City Clerk
2.