HomeMy WebLinkAbout63-51 - Adams Ave. Drainage District No. 1 - Accepting Bond Bid423
RESOLUTION No. 63-51
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COSTA MESA,
CALIFORNIA, ACCEPTING BID FOR THE SALE OF BONDS AND PRO-
VIDING FOR THE ESTABLISHMENT OF A REDEMPTION FUND FOR THE
PAYMENT OF SAID BONDS IN THE MATTER OF THE CONSTRUCTION OF
CERTAIN IMPROVEMENTS IN ADAMS AVENUE AND IN CERTAIN PUBLIC
EASEMENTS (ASSESSMENT DISTRICT NO. ll) IN SAID CITY, AS
CONTEMPLATED BY RESOLUTION OF INTENTION No. 62-138.
WHEREAS, the City Council has, in the manner and form prescribed by law,
F
called for bids
for the sale
of bonds in the matter of the construction of certain
Limprovements
in
Adams Avenue
and in certain public easements (Assessment District
No. 11) in the City of Costa Mesa, California, under Resolution of Intention
No. 62-138; and
WHEREAS, at the time and place fixed for the receipt of bids said bids
were publicly opened, examined and declared by the legislative body; ard
WHEREAS, the bid of VICTOR C. HUNT is regular in form and in accordance with
Resolution No. 63-46 of this Council adopted on the 16tb day of April, 1963; and
WHEREAS, the bid of the aforesaid bidder is in the opinion of the City
Council considered to be the bid which will best serve the interest of owners of
land included in the Assessment District and should be accepted by this Council;
NOW, THEREFORE, IT IS HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COSTA MESA, CALIFORNIA, AS FOLLOWS:
SECTION 1. That the bid of VICTOR C. HUNT for the purchase of improvement
bonds for the construction of certain improvements in Adams Avenue and in certain
public easements (Assessment District No. ll) in the City of Costa Mesa, under
Resolution of Intention No. 62-138, be and the same is hereby accepted. That all
other bids are hereby rejected.
SECTION 2. That the City Treasurer, in accordance with the provisions of
Part 5 of Division 7 of the Streets and Highways Code, is hereby authorized and
directed to receive all payments made upon said bonds by property owners in a
fund designated by the name of the bonds, in which he shall place all sums paid him
for the principal of the bonds and the interest thereon, together with all penalties
thereon, end from which he shall disburse such funds upon presentation of proper
coupons. Under no circumstances shall the said bonds or interest thereon be paid
out of any other fund except as provided by law.
SECTION 3• Said fund shall be designated "Drainage District Improvement
No. 1 Fund."
APPROVED AND ADOPTED this 6th day of May, 1963•
yor of the City of Costa Vsa
City Clerk of the City of Costa Mesa 7
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS.
CITY OF COSTA MESA )
I, C. K. PRIEST, City Clerk of the City of Costa Mesa, California,
do hereby certify that the foregoing Resolution being Resolution No. 63-51,
was duly passed, approved and adopted by said City Council, approved and
signed by the Mayor, and attested by the City Clerk, all at a regular meeting
of said City Council held on the 6th day of May, 1963, and that the same was
passed and adopted by the following vote, to wit:
AYES: Councilmen: Meyers, Smith, Tomchak, Wilson, Pinkley
NOES: Councilmen: None
ABSENT: Councilmen: None
DATED this 6th day of May, 1963•
City Clerk and ex -officio Clerk of the
City Council of the City of Costa Mesa
Deputy City Clerk
I