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Home My Public Portal About2491 (03-17-53) , . . .. . . , - . ;. • . . . � ' � . - - . �':. .' ' . . , `<.' - ; �. .t . RESOLUTION N0. 249T ' ' _ � ' ' �. �.. . . , RESOLUTION OF THE CITY COUNCIL`OF ' , ', ,.. , • ' � THE CITY OF LYNWOOD, CALSFORNIA',." .' ' DIRECTING THE CITY,CLERK TO PUBLISH ` . ,. ` ,� NOTICE INVITING SEALED PROPOSALS FOH_ •_ � . �.- $400,000 BONDS OF SAID CITY. ," _ �' WHEREAS,,an,ordinance.providing for_the'issuance - of tionds of ,the City of �Lynwood in the . amount �of , four hundred ��. � . thousand dollars ($400,000)', to be designate"d�SWIMMING POOL�. � BONDS, ELECTION 1g52, beeri introduced_; and ' � . , _ . . � � �• _ . , . . : - . . • , _ _ � �„ ` WHEREAS, it is desirable that said bonds-be sold; � . � ��NOW,.-THEREFORE; the City Council of the City of � ; •.. Lynwood, California;�DOES HEREBY.RESOLVE,,DETERMINE AND . • .:".. . , . ..ORDER as followsc ` . � • ; : � .� � . � ; -. ��,.:, ...��.._.-,...,�__..,.. --� ,.... --_- .._.,_,_,. ,:- ._,....... . Section 1_� That_:said.bonds be sold and that,sealed„ , .� . . � ; ".. , . ;., _ n.. a ... _ � - . , ` � bids or.proposals for the,purchase�of said�bonds be receibed. . , ' �••up to the time stated.in the notice hereinafter set forth., � _ . � . . . : ' �Section 2. Tfiat .the City Clerk be is �here- . � �. . �by authorized.and directed to publish said notice;once 1n ; ,� . • the.LYNW00D PRESS,�a newspaper of general circulationrpublished "• less�than six days a week in',said city; such publicatiom to be"� •, at 'least, ten (10) days prior to April �21; 1953• , -, � , t . , . , �.' Section ,3 'That said. notice- shall be substaritia7ly ,'- as` follows: ' ., . � . - - .. . . - • .. . , . ,, -� . � ;. � . . , . .. � � . ` . . . . ` , , . . • . � � . . • , , • • , . � .. � �, ��. '�` ' '. .' ' �'� ' � � • ' ' " ' . , : . � � � , . , . . . . �.. � �,' .. .� . _. �'.. . ,� . .. , ... , . ., . , ,. � . . ..1 ' . � - ')� .. � 4 � . � . , . . . ' R ' 4 �' • � ; . . ' k . ,, ` , . ' .. ' • .. �� , . • . . _ ' .� , ' - � . .. . ' . � . . . . � • �• . ' . ' . . . �k. !. ' . NOTICE INVTTING BIDS ON ' �'. ' " $�+00,000 BONDS OF THE . , � ,. . CITY OF LYM400D, CALIFORNIA.:' . , ' . . ,. r . .. . ' , , ' " -,_ � ". NOTICE IS-HEZEBY�GIVEN that �he City Council.of , ;•' the City of Lynwood, California;.will receive sealed '`. ". proposals.for the purchase'of ;�400,000 par value , _ general obligation bonds of said city, at'its Chambers in the.City.Hall in said city, un_�to the hour of • " � , .. $::6m ,o'.cl'ock P.M.; April. 21 r 1 953•, . � . � . � : _ _ . . ,, . . .'. The bonds to be sold vrere voted for the.purpose •' ;,. of the acquisition and construct'ion.of.a�swimrning , . pool 'and buildin� therefor, are designated .SLJIR+ItRING � ' POOL BONDS, EL�CTION 1952,"are to be dated May 15;. �,",� �� '. _,. �,1g53,.are four.hundred in'number, numbered 1 to 400, � '., inclusi've, of the.denomination of p1,000 each, and � � �� are to be payable in consecutive numerical order, 20 �• ", ' ' bonds annually�on_May 15th in each year from,May 15, ' � _ �1954 to P�1ay 15 1g73, both inclusive Said bonds ' � ' are"to be"payabl'e in lawful money of the United .. . .. . States.of America, at th'e'office of the.City;Treasurer , � , , - of the City of'.Lynwood,..�in sa3d.city. . � • '_The bonds are general obligations of•the City � �' • "� of Lynvrood issued purauant to the laars and Constituti�on � • � , _ of �'the State of California and under ari �act sornetimes� ., � � referred to as the •Municipal, Bond Ac't of 1901 .� �. ,� ' . . . • ,,.' , •. '`�'Bach bid shal.l state that ,the"bidder offers par � ' and accrued interest to date of delivc-ry,,the premium, .., ,. -� � •` • if any,' and"`the� rate; ri`ot to exceed five' per., cerit � � �_ .� (5�) ger annum, payable annually for the first year and " � semiannually thereafter,�at tvhich�the b�idder of�ers to ' :' `. bizy said.bonds. Said rate must be a.multiple,of 1/4 � , ' of 1 0. . Not more' than tvro interest rates may be bid� . , � . No bid for part of_•said bonds vaill be ,considered. , • °. " No bond�shall bear_more than:;one interest rate. ,The �. °� bonds.shall be sold Por cash.onl5*,and for riot less: � : -, tham par and accrued interest to date of delivery; ..� ` , A certified or casYiier�s cYieck on a responsible �. ° bank or tr.ust company:, in tfie amount•of three �er cent • ,. ': �(30) of the-principal amount of the bonds, payaole to ' ' • � the' order of the City of Ly must accompan�' each .� proposal;as.a guaranty .that the bidder,, if.successfuT;�, � • will accept 'and pay for, said bonds, in accordance tivith.� ` • -• the terms of his.bid. The;;proceeds of the check Y , . �• 'accompanyin� any accepted proposal, shall be_applied ori - the purchase price;or, if such.proposal is accepted but � ' -. , nbt performed, unless sucl�'fai�lure of .performance shall. be caused by ariy act or omissiori of the City of Lynwood � , shall then be retained by trie city. The check , . : . ,. ..' . ., ; . , . , :. . " ., ' ` ' .' . ' � ,. .- • ,. . ' ' '�.. ' , �. �� . , , " ' 2. , , ,� . • ' � . ., � ,. .. � A . . ., ' ' ' _ ' ' ' ' _ accompanying each iznaccepted�•proposal wil.l be -." � ' ' '. _returned promptly: . . . � .' � The unqualified opinion of + 0'Melveny & Myera, . , ' °�.attorneys, approving the validity of said bonds.� will be f'urnished the successful bidder at or prior - � � to the date of delivery of the bonds,,at the expense ��. ` of, the city.' At the•�tiine of payment_ for and delivery � . of said.bonds;' the city will furnisri•the successful . .. . - . bidder a,certificate that.there is no litigation ., � - • � , � pending .affecting the� validity° of the bonds: , �' , At any time before the bonds are tendered for delivery, the bidder• may disaffirm and withdraw-the _. , �� -' �. `. proposal if the interest-received by-;privat'e'holders � ` ' from bonds of the same type-and��character shall be �' '. declared ta be-taxable ineome,under present federal � ' �� income tax 3`aws', either. by a ruling. of,;the-;�Bureau � . of Inte'rnal' Revenue,.or.6y ,a'.,decision of',ariy�federal �� : ...court, or sriall be declared taxable by the terms.of ,." � ', any federal ineome tax law,enacted subsequent to the " •. ` date of this notiee. ' � � . � � . , � ` . �'. " Payment for and delivery, of s'aid bonds ehall „ � • . �be�made in the office of,the City Treasurer of.the- • , ', , ' City of Lynwood, California.,.. ' �• . `� ' ',� The C3ty_Ccuncil of the City of Lynwood , ' .. . reserves the right to re,ject any or all bids or to '� waive any irregularity or informality iri any bid to'•.. � .the extent permitted by law.. . . . � � �- � � The bida will be 'opened at the. meeting of the ��., � �..: City Council to be held Tuesday, April 21, 1g53; at '. .. • �- ' $:(},�-o'clock P.M., in the Council Chambers in the , . ..... ... ,_�. �- t. ' CityCHall°'.in•.the�°City'of Lynwood.� ° ". • . �� . GIVEN BY ORDER of the City Coizricil of the City ': ; of Lynwood .adopted March , 953•• • ' . .' , �.' _ . � � City Clerk of the y of � �. (,SEAL) . � ,Lynwood, Californi . : . � �' .� 'ADOPTED, SIGNED AND APPROVED this•17th day'of .. March, 1953. . . , . �. . . � . W �. , ' ' �;' , . �'�:• � � ,.�-. .�; , a of the i y of • ." �. `" Ly o d, California • �. . ,, ~ , , . A ES ` "' ' � ' . � ` , a n� . , . . . :' .City Clerk.of the ty of , . � ° ..Lynwood, California . •(SEAL)' . • � . •{' , ' . . , ' . ' • , � . . . , v . �, . [ , . .. . 'F ; ', ,: �' ; ' � - . „ s' . ' .. ' ' ' �, . , ' � • . . ' 3.: . � . � ' '. , . . . ., • . .. ' ,. • � � A t 4 � ' . , ' . . � . y , ., . . ` . . : (.' , �„ .. - e ' ., . . " J � �.� �' �" �. . �..i , a� yF�� ' ' .... y - . � . . , n .. . .. - y .� ' . ., , • • . , , . . � . �STATE CALIFORNIA�. � ' • � . COUNTY OF LOS' ANGELES � ss. _ , , .. , , Y ' • . CITY OF � � •.) � , ;, 5 , I, iA;�i:M. FCAMP_BEt�3, City Clerk of tYie City 'of � �'� Lynwood, California, DO HEREBY CERTIF.Y that.the foregoing . resolution was duly,adopted by the City Council of said�- ` � , city and was approved by the Mayor of said city at a . ' :. , regular meeting',of'sald.Clty Council held on the 17,tb day ;, • of.March,.1953, and,that it was so adopted by the follow= ing vote: - -.i � - � - , AYESs: Councilmen :Bruner;" Da.etweiler,• 2?ea:rson, , . , . _. 5neddon and Willard_ , .. , s .� . •�NOES: ' Councilmen None ' - ' ' � �y . , , ,`' - � "'` ABSENT: Councilmeri None ' � _-- _ � • l •�.. , - . _. � ' �: �„ �, _ . , . , , � . . �. . .: � .. . . ' .'r . � ' . � ' � . . .. . � ` • '� � . . i y C erk o i y of �� • • (SEAL) „ ' �•Lynwood.; Californ - � , ,.� , � . _ . . _ , ` .. .. - r . . �:, �.. �. ' .. , _� . , • . '` . • . - , ' ' - " ` . - . . , � , . . � , , ,, ., . . , . � ^ . : � , • . . , , , , . � , . . ' e.. ` .._ � ,. . ., . . , ,.. �.<• ... '. . .t � � ,,: � � . r ' • �• T • � ' _ . . . ' . ' . � . ' . .. . _. t . . " . • � - ' .,. . .:g . ' _ - . . . . . ' ' - . - ' . ,. � .: � . '. , � , ` '.4. , - . � � $TATE �9F CALIFORNIA ? � COUNTSt QF:L0.9 ATdt3ELE3' ): �a. ,- . .. , .. ; . . CYTY 0�' LY2�T�OD � � .. ' , ' I, : H... �d. _;CAhIPBElI3, Ci.ty Clerk of the City of ,Lyn�aooci, Callforn2a,�DU HEREBY CERfiIPY that the foregaing ' reeolution eaae duly adapted by th� �itg O�suraail af said , C1ty srid wsa ap�xroved by the MAyOP Of �ait3 eity at a ' re�ular meeting of aaid Citq Council held on the 17th day af Atarch, ag53 and that 1t svaa �0 8dopted by th� Po21ow- in� vote: , , AXB3; Coul7Ciid'ten Bruner, Daetweiler, .Pearaon, � Sneddon, and �rdillard. - - � . Id��3: � CounCilttr�n None. ' ABSENTt Councilmen Dlone. . . H, M. CAMPBELL � C y er_ o' e C y o (sBAL) Lynwood. californss STATE OF CALIFORNIA COIINTY OF LOS AN(iELES � ss. �. CITH OF LYN4100D ) � • ' F, :H.�.M: =CADtPBEI:L', City Clerk of the City of Lynwood, Califbrnia, DO HEREBY CERTIFY that the above and ,, foregoing is a full, true and correct copy of Resolution � No.� 24�q1 . and that the same lias not been amended or repea� . • DATED: i,+� , 953 CtyCer ofte yo — � (SEAL) Lynwood, California ° . � �. . �� . . . .. • ,"•, � 4..