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1 A RESOLU!J!IOJ:l OF TJUl BOABD OD' TRU:JTE3S W TBS CI:i.'Y OJ!' AR':
CADIA DECLARIlIG ITS I.!T"''::UTIOP. ~O SELL hOllDB.
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tlE5!l!i:AS, it is necessary for the carrying out of the pur-
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pOSeB set forth in Ordinance No. 89 of the Ci t:v of Aroadia, ad opted
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agllst 20, 1919, to isslle end offer for sale aId to sell the boms
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in said Ordinanoe ordered to be iS~lled as horeinafter pro,~dea.
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THEREFORE DB IT RESOLVED: That it is the intention of the
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oard of Trustees of said City of Arcadia to isslle and sell all of
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said bonds b,y said Ordinance direoted to be issued, to-Wit: "Ar-
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adia \iatel' BondS 1919", nWl1bered from 1 to 160, both inclusive:
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RESOLVED FURTHER, that the City Clerk be and she is he 1'8-
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1 direoted ,!?o advertise for sale to the highest bidder the entire
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Bene of said :,,;150,000.00 "Aroadia \Tater BondS, 1919" in conform-
ty with tha t certain "Notioe Inn ting Sealed .Proposals" herein-
fter speoified, by publishing said "Notice Inviting Sealed ~ro-
osals" for t\'IO successive weeks in The Arcadia Journal, a weekly
ewspaper published and ciroulated in the City of Arcadia, County
f Los Angeles, State of California and by one insertion in suCh
19 ewspaper published and oirculated in the City of Los Angeles, Cal-
20 fomia, as said City Clerk may be advised is the moet likely to
81 . va notice to projpeotive purchasers, and
88
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BE IT !I'URT'.llR RESOLVED: That said sale of said bonds be
d at the time and in the manner and under the condi tioIls set
24 orth in the following "Botice Inviting Sealed Proposals".
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lfOTIC::: IUVITI1& 2:l!1.i.I&olD rROPO'SALS.
NOTICE OF 3AL3 CF \!ATh'R B011DS OF ~m CITY OF ARCADIA,
27 CI\LI:5'O~mIA.
"
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Sealed proposals w111 be 1'0 co ived by the undersi{l'l1ed
lerk of the City of Arcadia, County of Los Angeles, state of
Cal-
City
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30 ifornia, at the office of said City Clerk, until eight 0' clock.
31 . U. on Uednesd81', October 1, 1919, for the purohase of bonds in
38 e SWD of ~j150,OOO.00, deSignated as "Arcadia \:ater Bonds, 1919"
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1 and said bonds shall be 160 in number, 1~0 of riilich slnll Le icsued
2 in the denomination of )1000.00 each anci 10 of '::llich shall be is-
3 sued in the denomination of ~750.00 each, and all of cai6 Londs
4 shall 'be datod Eovember I, 1919 and three of SD.id bonds of tho de-
5 nomination of ..ilOaO.aO each aIld OIle of said bonds of the denomina-
6 tion of ",750.00 che:llbe payc.ble on the 1st. day of november, 1920,
7 and three of said bonds of the denomination of .,ilOOO.OO each and
8 one of said bonds of the denomination of ~,i750.00 on the same day
9 and date of each and overy year thereafter.
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All of said bonds shall be payable at the 0ffice of the
11 City Treasuror of said City of Aroadia or at The Chase lfational
12 Bank of the City of lIewYorlc, State of lIev! York, nt the o()tion of
13 the holder of said bonds, and snaIl bo:::r inter8'ct at :'he rate of
14 five and on e-half por co nt )or a.'lnum, payablo semi -annually on the
15 first day of l.iay r,nd the first day of lJovember of os.ch and every
16 ~Toar and tl,e1l'inoipal and i11tere'3t thCl'oof shall l;a 112.yo.ble in
17 lav.'ful money of t)le United States at tile oe'ice of the City ':.'reas-
18 m'er of said Cit;'l 0:1.' _"'rcc,dia, or at '.!'ile C)1,."se IJation[ll BDJ'lk of the
19 City of ~ew York, State of Dew York, 't the o~tion of the holder
20 of L,,-id bon ds.
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;)Gidbonds are tOo be issued in f.ccordc.nce r:i th the ,11'0-
22 visions of an Act of the Legiskture of the St,c~te of Ce.lifol'ni[l,
23 entitled, "An -"ct authol'izing the incurring of indebtedness by
24 Cities, TO\'nls and ,,;tmieipal Corooret:,0ns for rnnnicipal impl'ovements
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tmd regulating the aC(_llisition, cOllstruetion or COmpletion thel'eoJ"
26 ~hich bJcrune a la~ February 25, 1901, and all Acts or )arts of
27 li.ets amendatory thereof or supplemCl1tal'y t"lel'eto and L'1 aecordc.nce
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r!ith tho Gene:'al Incor,Jomtion Acts of the :::t:..:. te of :~, lifo:!'nia for
29 ICi ties
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31 bonds.
of the sixth class and the Ordinances of sc.id City.
rroposals r,'ill be received for 2.11 or c.ny portion 0:: said
Eo pro ,lD sal for said bond s ",'ill be ont artained fo l' 1 ess
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than tlleir ff,ee value toeft~:or \':i th accrued interest to dc.te of
delivery of said Londs.
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.
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~;ach proposal must be accom::Janiudby a certified ctecl,
2 d:rarm u)on some Tes.oonsible BMlc in tho C't~te of Califol'nia and
3 payable to the Cit~T '.~ree.sln'er of said City of Aror,dia for tho sum
4 of ;;3000.00 as a glllire.ntee tInt the iJidder will purohase and LEY
5 fOT s ic1 bonds in [!CCOrdallce ,,!ith his 1l1'0;.los:d, in the event such
6 bid is accepted.
7 Proposals will be addressed to the City Clerk of said
8 City 0 f Arcad ia and will bo endorsed "Proposals fo I' :Furchase of
9 l'cadia Y!ate'r Bond s, 1919".
10 The Board of Trustee s resel'ves the right to reject any
11 and all bids and to ymive any formality in any bid as the intersts
12 of said CHy may re(1llire.
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Z ~ 13 By order of the Board of Trustees of the City of .~rcadia
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:l:l~g 14 mafe at its regular meeting held Aurust 20, 1919.
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... >- ~ u 15 1S'l'illiL GRElES
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j~~~ 16 City Clerk of the City of Arcadia.
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. The City Clerk shall certify to the adoption of this
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Resolution.
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The fore~oing Rosolution ~as ado~ted at a reGular meeting
of tlw Board of ~rustees of tre City of ~rcadia held on the 20th.
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day of August, 1919, by the af~irmative vote of at least three
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Trustees, to-wit:
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AYES: Trustees Arthur, ;,1illard and \:heeler.
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NO::;:S: 1I0ne.
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jJ3'~SllT: Trustees, Harris and Taylor.
and SiGned and approved this 20th. day of AUeust, 1919.
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