HomeMy WebLinkAboutCC Res 163 1929-02-04
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RESOLUTION NO. 16~
SELLING $57,500 PRINCIPAL AMOUNT OF CITY OF SEAL BEACH
MUNICIPAL IMPROVEMENT BONDS OF 1929.
WHEREAS the City Council of the city of Seal Beach,
State of California, by Resolution No. 162 duly passed
and adopted, on the 4th day of February, 1929, authorized
the issuance of $57,500 principal amount of bonds of the city
of Seal Beach to be known as "City of Seal Beach Municipal
Improvement Bonds of 1929", being seventy-six (76) in nUlllbel',
nUlllbered consecutively from 1 to 76, inclusive (whereot the
odd numbered bonds are of the denomination of $1,000 eachland
the even numbered bonds are of the denomination of $500 each,
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with the exception of bond NO.76 which is also of the denomin-
ation of $1,000) all dated February 1,1929, bearing inter-
est at the rate of five and one-halt <5i> per cent. per annUIII,
payable semi-annually on February 1st and August 1st in each
year, said bonds maturing in nUmerical order $1500 principal
amount on February. 1st in each year from 19'0 to 1966, both
inclusive, and $2,000 principal amount on February 1, 1967;
AND WHEREAS, this City Council is authorized to sell
such bonds in such manner as it shall determine;
AND WHEREAS, it is foJ;' the best interes:ts_ of the
City of Seal Beach to sell said bonds at private sal81
AND WHEREAS, Russell Sutherlin & co., has offered to
purchase said bonds at the price of not less than par and accrued
interest to date of delivery, and it is to the best interests
of the City of Seal Beach to accept said bid;
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Resolution Number
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BE IT RESOLVED by the City Council 01' the City 01'
Seal Beach, as follows:
Section l~ That the said City of seal Beach Municipal
Improvement Bonds of 1929, in the aggregate principal amount of
$57,500 be, and are hereby, sold to Russell Sutherlin & Co., at
the price of par, to wit, $57,500, abd accrued interest thereon
from February 1, 1929 to date of delivery thereof to said pur-
chaser, and a premium of $200.00
section 2. The City Treasurer is hereby authorized
and directed to deliver all of said City of seal Beaeh Municipal
Improvement Bonds of 1929, in the aggregate principal amount of
$57,500, to said Russell Sutherlin & Co., upon payment 01' the
purchase price therefor, to wit, the sum of $57,500 abd accrued
inti4rest thereon from February 1, 1929 to the date of delivery,
and a premium of' ~ ~OO. 00
Section 3~ This resolution shall take effect immed-
iately.
ADOPTED AND PASSED by vote of' ~
members of the
City Council of the City of Seal Beach, this
February, 1929.
4th
day of
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Presented to and Il.pproved by me this
4th day of
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February, 1929.
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Resolution Number
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CLERK'S CERTIFICATE
I hereby certify that the foregoing resolution
was introduced and read at a meeting of the Council of the
Cit~ of Seal Beach, Califo~nia, duly called and held on the ~
day of February, 1929, and that said resolution was thereafter
at said meeting adopted and passed by vote of ~
members of said Council, as follows:
Ayes:
~~~}L.
Noes:
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Absent~ ~~~
And I further certify that said resolution wa~r~
ented to, and signed and approved bY~~~ the Ma~f
said City of Seal Beach on the ' 4t..JI day of February, 1929.
I further certify that the foregoing resolution is
spread upon the records of the City Counc1l of the City of
Seal Beach, California, at page
of ~~...~ ~
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of Book :2
WITNESS 'my hand and the seal of said city this
day of February, 1929.
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C1tyl/}lIrf?1~~ Seal
State of California~
Beach,