HomeMy WebLinkAboutCC Res 596 1946-09-11
..., ..... ..
...... ..
~ . r..
I
RESOLUTION no. ~
RESOLUTI0N OF T.tt; CITY OF E.:&AL BEACH,
CALIPC,RIUA, DECLARIIm T~-G l;BCESSITY OF
BORi1().lING ;j'UIffiS TO J. i::3T ClI71tW:ET EXPENSES
PROVIDING FOR PUBJ.IC SJ~r..E (,F NC,l'ES, TAX
ANTICIPATI0N ~aRRANTSs uR OTHER ~ORMS OF
IIIDI::l3TEDilE&S, PROVIDIl.G FOR Tl'J.. RATB OF
IHTERJST, A.i.~CU1'lT AIID I ATURITY DATE OF
TEE SAI~, hIm PROVIDH:G FOR REPAYMSNT.
1
WHE~AS, by reason of increased expense necessary to
operate the varicus departments of the City of Seal Beach,
it is anticinated that a large sum of money will of necessity
be paid out by the City within the next ninety (90) days; and
\7HEITEAS, the avail~ble funds on hand in the City
Treasury are not sufficient with which to pay such operating
expenses; and
rmERBAS, it is anticipated that no substantial sum 01'
money will be received by the City for the benefit of the City
n'
before about December 1, 1946; and
WHElWAS, it is estimated that the sum of (One Hundred
,
Thirtee~housan~1x Hundred Fifty-four and no/1OO(Sl13.6,4.00)j
will be the amount of revenue received from taxes for the fiscal
rf - 11
year of 1946-47; and
V/liE. ~\S, t,1e Chief. Accounting Officer and the
Treasurer of the City of Seal Boach have reco~nended that the
City borrow a sufficient sml of money on notes, tax anticipation
warrants, or other evidences of inde~tedness on behalf of the
1
City, in an amount
revenue from taxes
11..
1947; and
not to exceed fifty per cent (,0%) of the
- '
i ~
provided for the current fiscal year 1946-
~~3acAS, it is deemed advisable by the City Council
that the C~ty of Seal Beach arrange to borrow sufficient funds
with which to pay the operating expenses of the City. in the
WBnner and as provided in Section 3719 of the Political Code 01'
the state of California;
1.
.no ... - .
.;'... ....
Resolution Num6er" .
~
I
,
N~~, ~HTIR1FO~, B~ IT ~SOL~D that notes, tax antici-
pation warrants, or other evidences of indebtedness, be offered
at public sale by the legislative lJody of the City of Seal Beach.
after advertising two separate times in the Seal Beach Post Q
Wave, a newspaper 01' general circulation ~ithin the County of
Orange and
"\.\
.9th day of
the Ci ty of
!II l<l
..October
Seal Beach,
.('
, 1946, at
said sale, to be held on the
7:.39 P.
the hour 01' :DQlK.'U 0' clock {sUo
1
at the office 01' the City Clerk in the City Hall of Seal BeaCh,
California, which time of sale ~ill be not less than three (3)
days after the last day on which such advertisement is published.
Such sale shall be made to the bidder offering the
lowest rate of interest, or ryhose bid represents the lo~est net
cost of the City, provided, however, that the rate 01' interest
shall not exceed five per cent (5~) per annum.
Such notes, tax anticipation war~ants, or other evi-
dences of indebtedness, shall be signed by the ~ayor and counter-
signed by the Chief Accounting Officer and the Treasurer of such
City.
Such notes, tax anticipation warrants, or other ev~d-
ences of indebtedness to be sold shall not exceed the sum 01'
Thirty-five Thousand and no/100 Dollars (835.000.00)
Such notes, tax anticipation uarrants, or other evi-
dences of indebtedness, shall bear a maturity date not later
,',
than December 31, 1)'46, and shall be repaid not later than said
date.
1
Bids for such notes, tax ~nticipation rmrrants, or
other evidences of indebtedness, shall be in writing and filed
ui th the City Clerlt of Seal ::Jeach et the office of the City Clerk
in the City H~ll of Seal BeaCh, California.
any and all bids may be rejecteo by the City at
2.
.' . ... .
iJ- . ~
Resolution Numbe~
--- .~.
its discretion.
ADOPTElD, SIGNED .Il.!;D j,pPRlNED this ~day of Se:pte~ber,
,- . <,;': ': ", 1946.
I' ,~~;".~",/.'-
\;..~. ;;~~,...~/.
';? ~~ ~.~ '"'..~~O,,~ C
.... ...~.,~
. .. C'" ~ ....
~~ \...
~, S~ ~ .
~?S ~b:
~~~_ -A5?'t'EST:
"-..... ...r;
~~.....~ ~..-:;
..~."" '~.....
"./1. ."......_ ... ,.........~
?i."'~ .-., -"'II-"~ ...~...
" ;~ ............... ..:~ r\l:
~ 1'- ,
~~.!!5~
liayor of
ty of Seal Beach,
ifornia.
_.$~
City Cler y
STATE uF CaLIFORNIA, )
County of Orange, ) ss.
City of Seal Beach. )
I JGl....' , I
, .111'::..
huLCJtHY, City Clerk of the City of Seal
1-
Beach, California, do hereby certify that the foregoing resolutiOn
was duly adopted at a regular meeting of the City Council held on
the !Xth day of September, 1946, by the following vote 01' the
.
members, to wit:
AYES: Councilmen' ,BtlT"-EIf, y!tJ3STEn;SNVI"t'~"PE4 J""E(tf'fL
NOES: Councilmen AldAltr
ABSENT: Councilmen lVoN'E
;;..aoo ,10"';( . ~
...:'\.r ~ .' : ~Ji
", '....,.. ;,~v..
'~~,f. -\0) ~.("~
~-' ~'1f)
~t _. ...~~
, , -..~
.t = ~
::; ;-:;,:..
''-::..1:j,. ~j';:
.:'\.~ - '~
~~~e..' ......~
.... j;..:'.:"":,",,,, ~ .-
~.
- .. ,~..... ...
I
-3-