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RESOLUTION NO. 3129
RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF ARCADIA ,
CALIFORNIA, AWARDING BONDS TO BE
ISSUED TO REPRESENT UNPAID ASSESS-
MENTS ON LANDS IN VEHICLE PARKING
DISTRICT NO. 2 OF SAID CITY.
r
i
WHEREAS, by Resolution No. 3113 , this City
Council called for sealed bids upon $ 79.759.84 of bonds
to be issued to represent unpaid assessments upon lands
in Vehicle Parking District No.
2
of said city; and
WHEREAS, at the time and place fixed for the
opening of said bids all bids received were publicly opened,
examined and read, and a tabulation thereof has been entered
in the minutes; and
.
.WHEREAS, the bid of the bidder hereinafter named
is the highest and best bid made by a responSible bidder
for said bonds in accordance with the published notice
inviting bids;
NOW, THEREFORE, the City Council of the City of
Arcadia
, California, DOES HEREBY RESOLVE, DETERMINE
AND ORDER as follows:
Section 1. That the bid of Gross and Company.
816 W. Sth St.. Suite 4lS. Los Angeles l7. California
offering par flat for said bonds, to bear interest at the
,
rate of 4.75
~ per annum, payable as provided in the
notice inviting bids, is the highest and best bid for said
bonds in accordance with said notice inviting bids, and
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3129
said bid is hereby accepted and said bonds awarded to
said bidder in accordance with the terms of its proposal.
The premium of $ 161.00
offered in said bid is not
required to break a tie between that bid and another bid
proposing the same interest rate, and said premium shall
not be included in the purchase price for said bonds.
Section 2. That the interest rate on said bonds
be and the same is hereby fixed at the rate stated in
Section 1 hereof.
Section 3. That all bids other than the one
accepted in Section 1 hereof are hereby rejected, and the
City Clerk is directed to return the checks accompanying
said rejected bids to the respective bidders.
Section 4. That the City Treasurer is hereby
directed to issue said bonds as provided by law and to
deliver said bonds to the purchaser thereof upon receiving
the purchase price bid therefor as hereinbefore stated.
Said purchase price shall be deposited in a special fund
designated "Acquisition and Improvement Fund for Vehicle
Parking District No.
2
"
ADOPTED, SIGNED AND APPROVED this ,th day of
May
, 19 59.
ATTEST:
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Aroadia ,California.
2.
3129
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
CITY OF ARCADIA
~ ss.
I, CHRISTINE VAN MAANEN , City Clerk
of the City of Arcadia , California, DO HEREBY
CERTIFY 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
said City Council held on the :>th day of May
19.52..., and that it was so adopted as follows:
,
AYES:
Councilmen Jacobi, Camphouse, Balser
and Reibold
NOES:
ABSENT :
Councilmen None
Councilmen Phillips
(SEAL)
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Arcadia, California
3.
3129