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HomeMy Public PortalAbout2529 (02-02-54) + , .. ,� . � ` ` ., . � , . . . � , . � . • � 'r'. ., .... � ..., . ': � . . . ' ' - . .. . .. . ,. � . . , ` . ' � f . . ' . . • , . . � � ' .. � . - ' . . �. � RESOLUTION N.O. 2529 �: • • , . RESOLUTION OF THE CITY COUNCIL OF�• . " t, THE CITY OF..LYNWOOD, CALIFORNIA, • ' , DIRECTING T�L CITY CLERK TO PUBLISH - �, , • NOTICE INVITING SEALED PROPOSALS ' �FOR $400,000 BONDS OF'SAID CITY. � � .. . � • � ' ' • : WHEREAS, an ordinance prouidin$ for'the.issuance of bond's of .the.City of Lynwood in the amourit.oF four'hundred' � thousand dollars ($400,000),.to be designated-.SWIMMING POOL BONDS 1954 has'been introduced;.and : � 'WHEREAS, it is desirable�that•said borids be.sold; . .. '. NOW, THEREFORE, the City Cbuncil of the City.of � _ Lynwood, California,.DOES HEREBY RESOLVE, DETERMINE AND . ORDER as follows: ; . . � Section l: That said bonds be sold.and that sealed bids or proposals,for the purchase of sai'd bonds be received ' up��to the'time stated in.the notice hereinafter set forth., , . . . Section 2. That the City Clerk�be.and he is hereby . ' aizthorized and directed to publish said riotice once in the ;. LI'NWOOD PRESS, a newspaper of circulation published ' less•than.six days�a week in said city, such publication to • � be at 1'east�ten'(10) days prior to,:March 16., 195�+.�' � - ' � . ^.- `.' . . . � .� . ,. _.; . . , . . Section 3. That sadd notice shall be substantially . . . ' as follows: ��� � • • � a " � T _ ;4.,' ., . . + ' ' . ,.; .. � • : . _ ... •�� � . .. � . . .. ._ , (a:� � 1 ..f . . � ♦ ' ��` ' ' • � . . .� ...'�' .� . . � ' . ' • 5 • � . . � 'M� .• .. . �' � . . � . ' r . - .♦ '� � . . .. i •� . � . � ' . a . ♦ .. �' * � . . y ` ..� ' • �i :r . . � .. �� . .... ' .� .� . . ' . . . . ' .i " � � ' . . � � � . 'J " . . � ' . . . . � (. . f . � . ' � . . . • a _ r ' . . - . � y' ' - ` NOTICE INVITSNG' BIDS,.ON . �°.'. .'.' ,.. ' ' '' ' �:' , . � '$400,000;BONDS�OF THE CITY. . . . x-f' ` �, :: ';� '.; .. ,::� OF •LXNWOOD, QALIFORNIA'., � , . ' . � i . � , . , „ _ • .�, ,� - . . . ' ' • • , . �' . � , • . _ , _ . . . � , . � .' • . . .> , : ' . t ' P : � • ', . . . , . . , . . . • , .. , . � . . . . . . . . , . , ' ' _ ' , , ` .. . . . NOTICE IS HEREBY.GIVEN that the City of the' `�`., ,. •� City-•of;Lynwood,, California, will receiv.e, sea�le�•proposals for', , ; _ `,the-.purchase, of. $'�JOO,'000 par. value�gerieral� obl�igation .bonds . � ; �, ', , - of� said ,city; • . its Chambers.. in, the City• HaTl ,in' said �c'ity, ��� , . ,': vp �to ti�e: hour of `7.:30 -o'.clock ,P.M.,� Mar,ch •16 � 1954. : ..' . .. . , , , , ... . . � � � - ; �; ; : •.'; : ,:, ": �' , .. , . . �� - . The bonds to•.tie �sold were',vo'ted for��the purpose. of ,,_ . � � �.. .•. �the acqizisi'tion. and construction of a�swimming' pool and bulld- �, � •,. ing ther.efor",. are de�s-ignated=,SWIMMING• POOL BONDS, �1�54;, are ,. . to be, dated April- 1,,.� 1954; are four> hundred'iri ,numtier, :.`' `„. • • ; ` numbered:l..to`400; inclusive,' of the`denomination ,of $1;000�`" � _ . �.•each;-,and are to be�payable in;consecutive numer.ical or.der", �`; .' . - ". 20:_bonds.annually on' Apri�l .1 ,each,-year� from Apri3 i; _z955,,. �°' �, . ' , to April T, ,1q74, .both ineTusive,.., Said �be :pay-:�':," ,� �.'.' ., `„ ..% able in lawful inoney- of. the ,United States of 'America, 'at•,:the'• � ,, �" " ��;�office ,of, the-,Ciby Treasurer of. the.'Citye of �Lynwood,. :in- said - , - `� 'city. • . . ... `^� _' ' ' ' .. . �F.'.r ., V "°, , '"'.'' ° ` The bonds are.general.obl�igations . of the : .of �;-;,.;' . �' Lynviood,�issued, pursuanb to the laias 'and Constitution, of ��the '_ � - ''r� State of.Califor.nia under an-Act'sometimes 'ref.erred to �'�;'�, � as the'' Muriicipal Bond' Act of 1901 . • ' � '. " ' • � ' . f4 .. . . • ' ' � . . .. � � '• �. � .,',.. ��,�t Each bid�; shall � state that�� the• bidde'r :offers par •. ;`..:.." �: and 'acerued iriterest to'date of delivery,'.the premium, if � ; - • �� �'any„-.and the .rate,: not. to .exceed'five per. cent (.5�) per , „- . � � �.'anrium; `payab).e-annual,ly'for'the fi'r,st.year semiannually' `� . , _ :' '. -' the`reafter, at which .the�bidder offers to,buy•'said bonds:.. Said.rate. mus,t be a•,multiple 'of 1/4'of , 1�:, � Not more than ` . ": ,' ' two, interest., rates may be bid:,: No.bid':�for. part.of.,said' "• •._ �� bond§�will b"e.consid"ered.�, No bond shall"bear,inore tfian � � � � � � . ,. one �•inter.es.t 'r.ate. The bonds 'shall'be. soT'd`for cash�.only � ' , _ ,`and for less,t.than par and acerued�interest to d`at'e-�of .y =��. .. �- , . � delivery. • � • , .. . ... ��° .': , � - " , , . . , � . , ,. ' � <' A,'c'ertified.,or-,cashier,'s. =checks on: a responsible'. - ., bank` or. trust J company; �, in the ;amount, 5 of'_'three' :per.',cent:' ( 3�} .-", _ ' • ; . : of'the:p'ri�ncipal�amounb-of�k�trie'��b�ond"s,,payable'��to,�the _order... .' of : the� City , of Lynwood:;.., must, accompany; each proposal �as', a� ..' ' � � i�' • � `, .guaranty that the �tii?dder,' if will .accept and . � '� ' ., ., � pay for said borids. iri: accordance,with�,the terms �of his bid:�._ - �` ' The proceeds of the check accompanying'any"accepted..proposal " . � • shall >.,oe_ appl;ied . ori. the. .purchase pri;ce � or, • if, such: proposal. ���� , . ,,. 'is:'accepted�_but; not perf.ormed, :', ` _ � • -' performance shall'be caus'ed by any act or omission oP the" ' ,, � "` City:of.I;ynwood shall theri:be.retained by.,the city, The ' ' ; . • check:•,,accompariying��each'unaccepted.,proposal be�, . ._ ' . .'returned�promptly,., ' � �. ' .• � , .. . , �. . . . , - � . . . "` , .. ... � .; . , ''� ; � , , ' . . .. � 4• ' � �, , • '. • • • � ei . �r" � l ' � • -. � ` u . ' . '� ... ' ' ' .. . . . v . n..,. , '' ' . ' � . ' . , .`l , � . ;,f �_ . _ . t� ' -' G . ' . . . �M1 � �! . � i �. � . .Y� , 5� . , • . " . . , •��..... ' ... . ' • ., , . . �.� The unqualified opinion of 0'Melveny &,Myers, ` . attorneys, approving the validity of said bonda will be ., furnished the successful bidder at.or prior to the date of �- delivery of the bonds, at the expense of the city. At the • .. time of payment for_and delivery of said bonds, the city_ ' ', ' will furnish the_successful bidder a certificate that there . is no.litigation pending affecting the validity of the bonds.: • At any time bef.ore •the bonds are tendered for• �� delivery,�the bidder m,ay disaffirm and withdraw the proposal if the interest received by private holders from bonds of the same type and character shall be declared to be taxable • � ' income under present federal income tax laws, either by a ruling of the Bureau of Internal or by a decision of any federal court, or shall be declared taxable by the terms of any.federal income tax law enacted subsequent to the date of�this notice. . �, - . Payment for and delivery of said bonds shall be made in the bffice of the City Treasurer of"the City of � �" ' Lynwood, „ " The City Council of the City of Lynwood reserues ,_ tYie right "to reject any or all bida or.to waive any � ; irregularity or informality in.any bid to the extent permitted by law. � . . � � The 6id's �rrill be ogened at :the meeting of the � - City Council to be held Tuesday.,,March 16 1954 at 7:30 " o'clock P'.M.,'in the Council Chambers in'the City�Hall � in the City of. Lynwood.' � ' GIVEN BY ORDER of the City Council of the City ' � of•Lynwood adopted February 2; 195�+: . . .�.� .: � . , , �.�.:.—;� ., �� , . , . ; �.:� w._ _ c_ . . . .�:. �.�., - � � • .. � �,..:�"� , %��- � . � ` . . ,. ,ti' � ; � ". J .. City Clerk of the .City of r y":��`�' ��" `(�SEAL) � , Lynwood, California: ' f :�-.:: • � . t °� ���, .' . , ' • . � ' 1 _��, --. . . . � .. r . °` - ' • -� f.^., ADOPTED, SIGNED AND APPRQVED this 2nd day of February, - �T95?+ ? �^ .. ;:s�,;- , , • ; �_ . , . ,' ! _... , . . �.� . . � ; ... . �s2' �"` _". � , Y f the C ty of , • , L n o d, California ATTEST: � . ,.. I V�,: .. . ;' •• City Clerk o the'City of ��. LynW.00d, California., , (SEAL) ; � , „ ' , 3.'.� . ' STATE OF CALIFORNIA J � ' � - ' " � COUNTY OF LOS. ANGELES ) ss, � �, . . CITY OF LYNWOOD ) I, H..M. CAMPBELL, City Clerk of the City of Lynwood, California, DO HEREBY CERTIFY thatthe foregoing'resolution was • . duly adop,ted by the City Council,of said,city and was approved .. ,, by t'ne Mayor of said city at-a regular meeting of said City ,. Council held on the 2nd d'ay of February, 1954 and that it' " • was so adopted by the.following vote: -- � AYES: Councilmerr 'Bruner, Daetweiler, Pearson, � . , � . , ' Sneddon, and Willard. . � • NOES: � Councilmen None. . �SENT: Councilmen None. � • �������.t , : ! . . . . : �'i .�;�� ' ' . � � ' � - 1 �,. . ., . � . .� � •.T' .,..3.c .� � � �F' t . � . ' ' I � ` � � .� . , � - .. . - , �S 4 �' *}'.:' ��� � �'� . �: �i: f , . �-kN� . � . �'" �- ;� City Clerk o the City •o . ;'= = �• . ('SEAL) " „ � , Lynwood, California . � � r a� ,. .,�.. . r � , . . '', =�° ' vo . - ' ' ' " .. . r . . . � . , _ , . . ' ' � . . �+' W ...i f -n � . Yt � . . . . . � ' .. " • . , . . � �� � ' .. 4.� � � r . . � ' r .. � ' . � F . ( ,« . , . ' . � . � . . , . ., � . ..�,� ' . ? .�. �.... . a , . n '''� ` 4 � � µ ' � ' • " � ' .. . ' �� . ' i . . . I ' . . r ' . . ' _, • i � .. , - . ' . ' ' � . -' . �• .. • .v . . . . . ' . . . _ , ' � , - � � � _ . . � � , ' ' . � � , . � . , . � � - SaATE OF CALTPG:lt�fI�2 ' . C�UfiFTX !��' Lc1S �PIQFI�� � �a. . , . , CItY �F • LYN�rlIQf3D � , . I, Ii. SR. CAtdP_T3�`LL, Gity Clsrk of Che (:lty [7F L,yl7yJQ06 CalYPornia, 1}L1 HE!?EiiY G�:R'1'YF`Y thatthQ P�a�egc�ir.� re�crlution :;�a� duly mb�pted L�t the C1t;� CouncSl aP. a�id city aracl, w�� t�pproveCa ' by. th€ h9syor n£ saYd city• a� a. ragular meetie�g of s�ici City ' � � CotinciZ he2c1 on' the �nd t�y o£. b'ebri:e�.rY, 19�j� er.d tFaa� it � . «��3;� sa ad�a�s�efl �ag the follc�caAng votm: . .' .� . . 11YE5 C�i1C1CS121I@d1' BY'UYler. T)a.Ptwari 7 �aar�nn � - . ' �P�dori Wi3l art� � _ _ , . N�?E`3�S � ,' .. CatAt1C11tn�n�qc, _ ; .. _ . . . AF�ISF3iP'1's CAt�ncilRten None _ ' ' . . . , • . .. �. . • A ♦ ' . • ' ' . . . ' i ' . � . . ' .' ' , ;;• •. , , CiL,. 1�r � �iae C ty o y � , (S�AL)'� �-_. . � Lyr�aoad, , �abSFornla . 'STATE 4P CALIF�JRNIA . , . .. CDUNTY ' OF LOS R�IO �'LE3 • � ss . � . . . . Cl2Y �F LYP7WOOt� } • � I,.H. M. C6�MPBELL, City Clerk of the City of • - � Lynevoac�, Cali£ornia, DO FisR�B'Y GfiRTIFY that• t:ne above and , � fare�ain is a fu21, true nnd er�rrect copy oF Resolution � No, �5�9 and�.thst the aame h4s not been amer�dec9 or � '� � �repealed. ., .: _ . � DATED • FebruarY. 3 ,, , i95� • . . . , f .. , . • � - , , - .. . �L . . . ' � , e . ' + ^ ,', 4� y • � - ' , , . ' ',-. "�' � � C ty Clerk of' ihe ty af � ( S�SAL) Lynoroad, California ; .' . - � � . . � : . . ' . ,