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RESOLUTION NO.1481
RESOLUTION AWARDING $350,000.00
S:E.WER BONDS OF THE CITY OF
ARCADIA, AND FIXING THE INTEREST
RATE THEREON.
WHEREAS, The City Council of the City of Aroadia,
by Ordinance No.588, provided for the issuance of
$350,000 of bonds to be designated "SEVIER BONDS, 1946",
to be dated July 1, 1946, of the denomination of $1,000
each, numbered in consecutive numerical order from one (1)
to three hundred fifty (350), inolusive, and maturing in
consecutive numerioal order ten (10) bonds annually on
July 1 in e~ch of the years from July 1, 1947, to July 1,
1981, both inclusive; and
WHEREAS, sealed proposals for the purohase of
said bonds have been duly and regularly reoeived, opened
and publicly deo1ared; and
ViHEREAS, the best bid for said bonds is the bid
of the bidders hereinafter named:
IND.EXEt>>
NOW, THEREFORE, The City Council of the City of
Arcadia, California, DOES HEREBY RESOLVE, DETERMINE AND
ORDER as follows:
Section 1.
That the interest rates to be paid
on said $350,000 of bonds are hereby fixed and determined
as follows: eonds numbered 1 to 50, inclusive, shall
bear interest at the rate of four per cent (4%) per annum,
payable semiannually; bonds numbered 51 to 350,
inclusive, shall bear interest at the rate of one and three
quarters per cent (1-314%) per annUm, payable semiannually.
Section 2.
That the bid of BLYTH &: CO., INC.,
WILLIJ\M R. STAATS CO., and REDFIELD &: CO.
for said $350,000 of bonds, bearing interest at the rates
above stated, be and the same is hereby accepted and said bonds
are hereby awarded and sold to BLYTH &: CO., INC.,
WILLIAM R. STAATS CO., and REDFIELD &: CO.
in accordance with the terms of said bid, at the price of par,
accrued interest to date of delivery, and a premium of $80.50,
and the City Treasurer of the City of Arcadia is hereby
2.
authorized and directed to deliver said bonds to said purchasers
upon the payment of said purchase price.
ADOPTED, SIGNED AND APPROVED this 18th day of
June, 1946.
0], ~,(D~.
Mayor of th~ City Jf Arcadia,
Ca1 i forn ia .
ATTEST:
(SEAL)
~/~4~
City Clerk of the crty
of Arcadia, California.
ST!\TE OF CALIFORNIA )
COUNTY OF LOS ANGELES) SS.
CITY OF aRCADIA )
I, W. C. BILLIG, City Clerk of the City of Arcadia,
California, DO HEREBY CERTIFY that the foregoing resolution
was duly adopted by the Council of said City by a vote of
more than two-thirds of the members thereof and was approved
by the Mayor of said City at a regular meeting of said Council
held on the 18th day of June, 1946, and that it was so adopted
by the following vote:
Councilmen Adcock, Cornyn. N~ent.
Ormsby and Russell
'NO: Councilman None
AYES:
ABSENT: Counc ilman None
e
City Clerk of the City 0
Ca 1 iforn ia .
( SEAL)
3.