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<br /> RESOLUTION OF THE COUNCIL OF THE CITY OF REDWOOD CITY CANCELLING
<br /> SALE OF $350 ,000 PRINCIPAL AMOUNT OF GENERAL IMPROVEMENT
<br /> FUND BONDS OF 1937
<br /> WHEREAS , the Council of the City of Redwood City on the 14th
<br /> day of December , 1936 , awarded $350 ,000 principal amount of its General
<br /> Improvement Fund Bonds of 1937 to Stone & Youngberg , said bonds to bear
<br /> interest at 2-3/44 per annum , payable semi -Annually; and
<br /> WHEREAS , it appears that it would be advantageous to cancel
<br /> said sale and to offer said bonds for public sale , and Stone & Youngberg
<br /> have agreed to cancel said sale ,
<br /> NOW, THEREFORE , BE IT RESOLVED by the Council of Redwood City,
<br /> as follows :
<br /> 1 . That the sale of $350 , 000 principal amount of General
<br /> Improvement Find Bonds of 1937 of the City of Redwood City to Stone &
<br /> Youngberg be , and the same is hereby, cancelled.
<br /> 2 . That the City Treasurer is hereby directed to return to
<br /> Stone & Youngberg the good faith check in the sum of $1 , 000 deposited by
<br /> Stone &. Youngberg with said City Council at the time of said sale .
<br /> 3. That said bonds shall be offered for public sale to the
<br /> highest and best bidder therefor .
<br /> Councilman Jones , seconded by Councilman Eva, proposed the adoption of the following
<br /> resolution ratifying and approving the action of the City Clerk in mailing Notice
<br /> of Sale of $350 ,000 General Improvement Fund Bonds of 1937 . Unanimously carried.
<br /> WHEREAS , the City of Redwood City heretofore duly authorized
<br /> the issuance and .sale of $350 , 000 principal amount of bonds of said City ,
<br /> to be known as " City of Redwood City General Improvement Fund Bonds of
<br /> 1937 , " consisting of 350 bonds of the denomination of $1 , 000 each ,
<br /> dated January 1 , 1937 and maturing in consecutive numerical order
<br /> $35 ,000 principal amount on January 1st in each of the years 193g to
<br /> 19 7 , both inclusive ; and
<br /> WHEREAS , the City Clerk of the City of Redwood City has here-
<br /> tofore mailed notices of sale of said bonds to investment dealers , banks
<br /> and other prospective purchasers , which notice described the bonds to be
<br /> sold and designated the time and place of such sale; and
<br /> WHEREAS , it appears that due and adequate notice of the sale of
<br /> said bonds has been given to all prospective purchasers ,
<br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City of
<br /> Redwood City , as follows :
<br /> i . That the action of the City Clerk in mailing notice of the
<br /> sale of said bonds and the form of such notice of sale , - be and the same
<br /> are hereby ratified, confirmed and approved.
<br /> Councilman Christensen , seconded by Councilman Jones , proposed the adoption of the follow-
<br /> ing resolution ratifying and approving the action of the City Clerk in mailing Notice
<br /> of Time and Place to which the sale of the Harbor bonds was postponed as well as the
<br /> form of such notice . Unanimously carried.
<br /> WHEREAS , the City of Redwood City heretofore duly authorized the
<br /> issuance of $266 ,000 principal amount of bonds of said City, to be known
<br /> as " City of Redwood City Harbor Improvement Bonds of 1936 , " consisting of
<br /> 266 bonds of the denomination of $1 ,000 each , all dated July 1 , 1936 ,
<br /> divided into two series , designated " Series A" and " Series B" in the prin-
<br /> cipal amounts of $200 ,000 and $66 ,000 , respectively; and
<br /> WHEREAS , said Council has heretofore authorized the sale of said
<br /> Series A Bonds of the above-mentioned issue and directed the City Clerk to
<br /> give notice thereof , such sale to be held on 'Tannery 4 , 1937; and
<br /> WHEREAS said sale was on said date duly and regularly postponed
<br /> to January 11 , 1937 , and said Clerk directed to give notice of such post-
<br /> ponement ; and
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