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<br /> principal amount of City of Redwood City Harbor Improvement Bonds of 1936. Said
<br /> bonds constitute part of an authorized issued' bonds of said City , known as the
<br /> "City of Redwood City Harbor Improvement Bonds of 1936" which authorized issue
<br /> aggregates in principal amount the sum of $266 ,000 , consisting of 266 bonds of
<br /> the denomination of $1000 each , all dated July 1 , 1936. Bidders mast specify
<br /> the rate of interest which the bonds hereby offered for sale shall bear and said
<br /> bonds will be awarded to the highest and best bidder , considering the rate speci-
<br /> fied and the premium offered , if any. Bidders will be permitted to bid different
<br /> rates of interest for different maturities of said bonds. The interest rate
<br /> stated in the bid must be in a multiple of one-quarter of one per cent per annum,
<br /> payable semi-annually , and the interest rate shall not exceed four ( 4) per cent
<br /> per annum, payable semi-annually on January 1st and July 1st of each year. Said
<br /> bonds hereby offered for sale constitute all of the bonds of Series "A" of said
<br /> authorized issue and mature as follows , to-wit :
<br /> $5 ,000 principal amount of said bonds mature and are payable on July 1st
<br /> in each of the years 1937 to 1941 , both inclusive ;
<br /> $8 ,000 principal amount of said bonds mature and are payable on July 1st
<br /> in each of the years 1942 to 1944 , both inclusive ;
<br /> $10 , 000 principal amount of said bonds mature and are payable on July 1st
<br /> in each of the years 1945 to 1948 , both inclusive ;
<br /> $12 , 000 principal amount of said bonds mature and are payable on July let
<br /> in each of the years 1949 to 1951 , both inclusive ; and
<br /> $15 , 000 principal amount of said bonds mature and are payable on July 1st
<br /> in each of the years 1952 to 1956 , both inclusive .
<br /> With each bid mast be submitted a certified check or Cashier ' s check in
<br /> the sum of $1000 , payable to the order of the Treasurer of the City of Redwood City,
<br /> as guarantee that the bidder will purchase and pay for said bonds in the event his
<br /> bid is accepted. Bids will be received for all or any of said $200 ,000 principal
<br /> amount of said Series A bonds at not less than their par value and accrued interest
<br /> a,s specified. All bids must be unconditional , and , together with bidder ' s check
<br /> must be enclosed in a sealed envelope endorsed "Proposal for City of Redwood City
<br /> Harbor Improvement Bonds of 1936. The City of Redwood City reserves the right to
<br /> reject any and all bids .
<br /> The legal opinion of Messrs. Orrick , Palmer & Dahlquist of San Francisco ,
<br /> California, approving the validity of said bonds , will be furnished to the success-
<br /> ful bidder without charge .
<br /> Said bonds were authorized at an election held on July 11 , 1936 , and will
<br /> be issued in accordance with Ordinance No . 379 of the City of Redwood City , reference
<br /> to which is hereby made and to the proceedings now on file in the office of the City
<br /> Clerk.
<br /> The City of Redwood City was incorporated 1867; 1897 ; Charter , 1929 . The
<br /> population ( Census of 1930 ) was 8 , 962; the present conservative estivate is 12 , 500.
<br /> The assessed valuation of all taxable property in said City for the year 1936-37 is
<br /> $14 , 254 , 000 . 00 , and the total bonded indebtedness ( not including this issue is
<br /> $210 , g77. o0 . The tax collection record of said City is as follows :
<br /> Total amount of Amount of City Taxes Amount of City Taxes
<br /> City Taxes levied uncollected at uncollected
<br /> Fiscal for each the end of each as of
<br /> Year fiscal year fiscal year July 1 , 1936
<br /> 1931-32 $174 , 547 . 58 $17 , 632. 89
<br /> 1932-33 146 , 976. 74 19 , 634. 25
<br /> 193 --3 14 68 . 42 19 698, 43
<br /> 7 , 5 9 , � 3
<br /> 1934-35 158 ,018. 28 21 ,0 2. 28 -
<br /> 1935-36 168 , 8 #0 . 51 16 , 516. 36 $60 , 731 . 53
<br /> Further information relative to the financial condition of the City will be
<br /> furnished to any bidder upon request .
<br /> This notice is given pursuant to Resolution of the Council of the City of
<br /> Redwood City adopted December 14 , 1936.
<br /> B . E . MYERS
<br /> City Clerk of the City of Redwood
<br /> City , California
<br /> Section 3. That the said City Clerk be , and he is hereby , authorized and directed
<br /> to mail notice of the sale of said Series A bonds to the State Treasurer and to the Depart-
<br /> ment of Finance of the State of California.
<br /> Section 4. This resolution shall take effect immediately.
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