HomeMy WebLinkAboutCC RES 17RESOLUTION NO. 17
A RESOLUTION OF THE CITY COUNCIL AND BOARD OF TRUSTEES OF
THE CITY OF TUSTIN, CALIFORNIA, ACCEPTING THE PROPOSAL OF THE
FIRST NATION BANK OF TUSTIN, CALIFORNIA, TO BUY THE WHOLE OF
THE "CITY OF TUSTIN MUNICIPAL IMPROVEMENT BONDS OF 1930" AND
AUTHORIZING THE EXECUTION THEREOF BY THE MAYOR AND CITY CLERK
AND THE CITY TREASURER OF THE CITY OF TUSTIN, AND THE PLACING OF
THE SEAL OF THE CITY THEREON, AND THE DELIVERY THEREOF TO THE
SAID PURCHASER, THE FIRST NATIONAL BANK OF TUSTIN, CALIFORNIA,
UPON PAYMENT OF THE PRICE BID, TO-WIT, PAR VALUE OF $13,000.00
AND ACCRUED INTEREST TO DATE OF DELIVERY AND PREMIUM IN THE SUM
OF $192.10
WHEREAS the City Council of the City of Tustin heretofore
set the 30th day of June, 1930, at the hour of 7:30 P.M, as
the time fixed for the sale of the city of Tustin Municipal
Improvement Bonds of 1930, and whereas notice inviting proposals
for the purchase of and Sale of said Bonds has been duly and
regularly given and published as directed by said City Council and
as required by the laws of the State of California, and the
sealed proposals and bids received having been opened at said
time, and it appearing that The First National Bank of Tustin,
Caliiornia, a National Banking Corporation, has submitted a
proposal for the purchase of said bonds at the price of
$13,000.00 the par value thereof, plua accrued interest to date
o£ delivery, plus a premium thereon in the sum of $192.10,
conditioned on the approval of said bonds by the attorney's for
said the First National Bank of Tustin, and the prompt delivery
of said bonds after such approval, and has submitted therewith
a cashiers Check in the sum of $390.00 being 3% of the par value
of said bonds, to be retained as part of the purchase price of
said bonds in the event of the acceptance of said proposal by
the said City Council, and approval of said Bonds by the
attorneys for the said The First National Bank of Tustin,
otherwise in the event of the non-acceptance of said proposal,
or the dissapproval of said bonds by the attorneys for the said
The First National Bank of Tustin, said proposal then subject
to cancellation by the said The First National Bank of Tustin,
and said cashiers check to be immediately returned; and thereas
said proposal or bid of the said The First National Bank of
Tustin, was and is the highest and best proposal or bid received
for the purchase of said bonds.
NOW THEREFORE, BE IT RESOLVED by the City Council and
Board of Trustees of the City of Tustin, that the proposal or
bid of the First National Dank of Tustin, California, for the
purchase of the said City of Tustin municipal improvement Bonds
of 1930, at a price or consideration of the par value thereof,
to-wit, $13,000.00, plus accrued interest to date of delivery,
plus a premium in the sum of $192.10, subject to approval of said
bonds by the attorneys for the said The First National Bank of
Tustin, and prompt delivery of said bonds after such approval, is
hereby approved and accepted and said bonds are hereby awarded to
The First National Bank of Tuustin, and the City Attorney of said
City of Tustin is hereby instructed to forthwith prepare and
furnish to the said The First National Bank of Tustin, for the
use of its attorneys in examining said bond proceedings, a
certified transcript of the proceedings of the said City Council
and of the said City of Tustin relative to the authorization,
issuance and sale of said Municipal Bonds; and the Mayor and
President of the Board of Trustees, the City Clerk:, and the
City Treasurer, of the said City of Tustin, are hereby authorized
and directed sign and execute said City of Tustin municipal
Improvement Bonds of 1930, and the Clerk to affix the Seal of
the said City thereto, and to deliver the said bonds duly executed
to the said The First NationaI Bank of Tustin, upon the payment
to said city of Tustin of the proposed purchase price therefor,
to-wit, $13,000.00 the par value of said bonds, plus accrued
interest to date of delivery, plus $192.10 premium, less the sum
of $390.00 already paid by cashiers or certified check submitted
with proposal, said money or funds so received to be placed in
the Municipal Treasury to the credit of "Municipal improvement
Bonds of 1930 Interest and Sinking Fund"; in the event however
that said bonds should for valid reason be finally rejected by
the attorneys for the said The First National Bank of Tustin
then the City Clerk is authorized and directed to return said
Cashiers or Certified Check of $390.00 to the said The First
National Bank of Tustin, on demand or therefor
The City Clerk is further authorized and directed to
forthwith return to the parties offering same all cashiers or
certified checks received with proposals for the purchase of
said bonds, except that of the said The First National Bank of
Tustin, whose proposal for the purchase of said bonds has been
accepted, and to whom the said bonds have been awarded.
This Resolution shall take effect from and after its
passage and approval.
The foregoing resolution was passed and adopted by a vote
of four members of the City Council of the said City of Tustin,
State of California, this 30th day of June, 1930.
MaYOr an~ ~res~dent
~.rustees of the Uity of
California.
City Clerk of the City of Tustin.
Presented to and approved by me this 30th day of June, 1930.
Ma~or and ~reside~t Of t"hs ~°g~'d~ of
~.rustees of the uity of Tustin,
C~lifornia
~LERK' $ CERTIFICATE
I hereby certify that the foregoing resolution was introduced
'and read at an adjourned regular meeting of the City Council of
the City of Tustin, California, duly called and held at 7.30
o'clock P..M., on the 30th day of June, 1930, and that said
resolution was thereafter on said 30th day of June, 1930, adopted
and passed by a vote of four members of the said City Council,
as follows.
AYES: Councilmen' Huntley, Schwendeman, ~ogan, Kiser, Orawford
NOES: Councilmen: None
ABSEET · COUNC I~N: None
Dated this 30th day of June, 1930.
.t-y~ Ci~erk-~ -of- th e city- o f TdSt in
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MORRIS CAIN
ATTORNlY•AT•LAW
SANTA ANA, CAL.
~ ~
R.E80LUTION N0.
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A RESOLUTION OF THE OITT COUNCIL AND BOARD OF TRUBTSEB OF
THE OITY OF TUSTI~J, CALIFORNIA, ACCEPTING TAE PROP08AL OF T8E
FIA8T NATIONAL BANG OF TUBTIN, CALIFORNIA, TO BUT THE APIOLE OF
THE "CITY OF TUSTIN MUNICIPAL IMPROVEI[Er1T BONDS OF 1930", aND
AUTSORIZING THE EICECUTION TBEREOF BT THE MAYOR, TltE CITY CLERK
ANDTTSE CITY TREASURER OF TSE CITY OF TUSTIN, AND THE PLACING OF
TKE BNAL OF THE CITY THEREON, AND THE DELIVERY Tl~ERZOF Ta TAE
RAID PURCHASER, THE FIRST NATIONAL BANK OF TUSTIN, CALIFORNIA,
UPON PAYMENT OF Tii$ PRICE BID, TOsWIT, PAR VALUE OF X13, 000.00
A~ A888~iS8 iNlNREBT TO DATA OF DELIVERY AND PREMIUM IN ZSN 8UM
OF X192.10.
0000000
WAEREAB the City Counoil of the City of Tustin heretofore
set the 30th day of June, 1930, at the hour of 7:30 P. M., as
the time fized for the sale of the Oity of Tustin Municipal
Improvement Bonds of 1930, and whereas Notice Inviting Proposals
for the Purchase of and Bale of said Bonds has been duly and
reg~ltlarly given and published as directed by said City Council a
as required by the Laws of the State of Oalifornia, and the
sealed proposals and bids received having been opened at said
time, and it appearing that The First National Bank of Tustin,
Oalifornia, a National Banking Corporation, has submitted a
proposal for the purchase of said bonds at the price of
X13,000.00 the par value thereof, plus accrued interest to date
of delivery, plus a premium thereon in the sum of X192.10,
conditioned on the approval of said bonds by the attorney's for
said The First National Bank of Tustin, and the prompt delivery
of said bonds after such approval, and has submitted therewith
a Cashiers Check in the sum of X390.00 being 39b of the par value
of said bonds, to be retained as part of the purchase price of
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MORRIS CAIN
A7TORNlY•AT•LAW
SANTA ANA. CAI.
said bonds in the event of the aoceptance of said proposal by
the said Oity Council, and approval of said Bonds by the
attorneys for the said The First National Bank of Tustin,
otherwise in the event of the non-acceptance of said proposal,
or the dissaproval of said bonds by the attorneys for the said
The First National Bank of Tustin, said proposal then subject
to cancellation by the said The First National Bank of Tustin,
and said Cashiers check to be immediately returned; and Ahereas
said proposal or bid of the said The First Rational Bank of
Tustin, was and is the highest and best proposal or bid received
for the purchase of said bonds;
NOR THEREFORE, BE IT RE80LQED by the City Councils~t and
Boazd of Trustees of the City of Tustin, that the proposal or
bid of The First National Bank of Tustin, California, for the
purchase of the said City of Tustin liuuicipal Improvement Bonds
of 1930, at a prioe or consideration of the par value thereof,
to-wit, 13,000.00, plus accrued interest to date of delivery,
plus a premium in the sum of X192.10, Subjedt to approval of said
bonds by the attorneys for the Said The First National Bank of
Tustin, and prompt delivery of said bonds after Such approval,
and said Bondi are hereby awarded to TheFirst Nation 1 Bank
is hereby approved and aeeepted,j' and the City Attorney oil said
City of Tustin is hereby instructed to forthwith prepare and
furnish to the said The First National Bank of Tustin, for the
use of its attorneys in examining said bond prooeedings, a
certified transcript of the proceedings of the said City Oouncil
and of the said City of Tustin relative to the authorization,
issuance and sale of said Municipal Bonds; and the Mayor and
President of the Board of Trustees, the City Clerk, and the
City Treasurer, of the said City of Tustin, are hereby authorized
and directed sign s=td and. execute said City of Tustin Municipal
Improvement Bonds of 1930, and the Clerk to affix the deal of
said Oity thereto, and to deliver the said bonds duly executed
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MORRIS CAIN
ATTORN6Y•AT-LAW
SANTA ANA, CAL.
to the said The Fir st National 8suik of Tustin, upon the payment
to said Oity oP Tustin of the proposed purchase price therefor,
to-wit, X1.3,000.00 the par value of said bonds, plus accrued
interest to date of delivery, plus X192.10 premium, less the sum
of X390.00 already paid by cashiers or certified check submitted
with proposal, said money or Funds so received to ~e placed in
the Munidipal Treasury to the credit of "Municipal Improvement
Bonds of 1930 Interest and Sinking Fund"; in the event however
that said bonds should for valid reason be finally rejected bq
the attorneys for the said the First National Bank of Tustin,
then the City Clerk is authorized and directed to return said
Cabhiers or Oertified Check oP #390.00 to the said The First
National~Bank of Tustin, on demand therefor.
The City Clerk is further authorized and directed to
forthwith return to the parties offering same all oashiers or
certified checks received with proposals For the purchase of
said bonds, except that of the said The First National Bank of
Tustin, whose proposal for the purchase of said bonds has been
accepted, and to whom the said bond8 have been guarded.
This Resolution shall take effect Prom and after its
passage and approval.
The Foregoing resolution was passed and adopted by a vote
Fo ~ R
of a members of the City Council of the said City of T<.istin,
State of Cplifornia, this 30th dap of June, 1930.
(ATTEST)
ty Olerk of the City~oP Tustin.
Presented to and approved by me this 30th day of June,
1930.
Mayor and resident of Board of
Trustees of the City of Tustin,Califo min
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Trustees of the City of Tustin,
Oalifornia.
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CLERN~ 3 OERT~'ICATS.
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I hereby certify that the foregoing resolution was introduce
and read at an ad,~ourned regular meeting of the City Council of
the City of Austin, California, duly called and held at 7:30
oboloclt P. M., on the 30th dap of dune, 1930, and that said
resolution was thereafter on said 30th day of June, 1930, adopted
F"o ~ ~
and pa.esed by a vote of liee~e members of the said City Council,
as follows:
Ayes: Councilmen: Suntley, Schwendemann, Logan, Miser and
Crawford.
Noes: Councilmen: Nane.
Absent: Oouncilmen. Nane
Dated this 30th day of June, 1930.
(sEAL)
0
or zustin.
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MORRIS CAIN
ATTORNBY-AT•LAW
SANTA ANA. CAL.