HomeMy WebLinkAbout64-97 - Gisler Avenue Drainage District - Accepting Bid for BondsRESOLUTION NO. 64-97
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 ACQUISITION
AND IMPROVEMENT AS CONTEMPLATED BY RESOLUTION OF INTENTION
No. 64-45.
WHEREAS, the City Council of the City of Costa Mesa has, in the manner
and form prescribed by law, called for bids for the sale of bonds in the
matter of the acquisition and improvement as described in Resolution of Inten-
tion No. 64-45 of the City Council, adopted on the 4th day of May, 1964; and
WHEREAS, at the time and place fixed for the receipt of bids, said
bids were publicly opened, examined and declared by the City Council; and
WHEREAS, the bid of FIRST CALIFORNIA COMPANY and STONE AND YOUNGBERG is
in regular form and in accordance with Resolution No. 64-85 of this City Council
adopted on the 8th day of September, 1964, authorizing the sale of said bonds;
and
WHEREAS, the bid of the aforesaid bidder is, in the opinion of this City
Council, considered to be the bid which will best serve the interest of the
owners of land included in the Assessment District and should be accepted by
this City Council;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COSTA
MESA, as follows:
SECTION 1. That the bid of FIRST CALIFORNIA COMPANY and STONE AND YOUNGBERG
for the purchase of improvement bonds for the acquisition and improvement
described in Resolution of Intention No. 64-45, 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
Division 7 of the Streets and Highways Code of the State of California, 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, to-
gether with all penalties thereon, and 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.
310
SECTION 3• Said fund shall be designated "DRAINAGE DISTRICT IMPROVEMENT
NO. 2 FUND".
APPROVED AND ADOPTED this 5tb day of October, 1964.
TI
Ma r of the City of Costa Mesa
ATTEST:
'e. l<-. P, .:
City Clerk of the City of Costa Mesa
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS.
CITY OF COSTA MESA )
I, C. K. PRIEST, City Clerk and ex -officio Clerk of the City Council
of the City of Costa Mesa, do hereby certify that at a regular meeting of the
City Council of the City of Costa Mesa, California, held on the 5th day of
October, 1964, Resolution 64-97 was considered section by section, and that
said Resolution was then passed and adopted as a whole by the following roll
call vote, to wit:
AYES: Councilmen - Pinkley, Jordan, Darck, Wilson
NOES: Councilmen - None
ABSENT: Councilmen - Meyers
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 6th
day of October, 1964,
14ED E2
City Clerk and ex -officio Clerk of the
City Council of the City of Costa Mesa