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229
<br />7 ornr*e % -fhelh 7e) C, 27.- 5
<br />Councilman P. A. McCarthy presents the following resolution
<br />and moves its adoption:
<br />7MREAS, the Council of the City of Redwood City did, on the
<br />19th day of May, 1930, at a regular meeting of said Council, pass
<br />and adopt a Resolution determining that the Municipal Improvement
<br />Bonds of 1930, dated May 19th, 1930, of said City, in the amount of
<br />Fifty -Five Thousand (055,000) Dollars being the bonds issued for
<br />certain municipal improvements in said City in pursuance of a special
<br />election held in said City on the 14th day'of April, 1930, be sold
<br />at private sale on the 2nd day of June, 1930, at the hour of 8:00
<br />31clock P.M. of said day; and whereas, the Clerk of the City of
<br />Redwood City did notify a number of the bond companies who usually
<br />purchase municipal bonds of the time and place of said sale; and
<br />whereas, the Clerk of the City of Redwood City did notify the State
<br />Board of Control and the State Treasurer of the State of California
<br />at Sacramento of the time and place of the sale of said bonds, as
<br />required by law; and
<br />WHEREAS, this is the time and place fixed for the sale of
<br />said bonds, and said Cotmcil of the City of Redwood City having
<br />received a bid from NATIONAL BANKITALY COMPANY offering to take all
<br />of said bonds and to pay for said bonds on a basis of four and one-
<br />half percent ( ') interest, par, accrued interest to date of delivery
<br />and a premium of Two Hundred Twenty -Three ($223.00) Dollars, and which
<br />said bid of NATIONAL BANKITALY COMPANY appearing to said Council to
<br />be the highest and best bid for said bonds:
<br />NOW THEREFORE, BE IT RESOLVED by the Council of the City of
<br />Redwood City that the bid of NATIONAL BANIaTALY COMPANY for the whole
<br />issue of said Municipal Improvement Bonds of 1930, dated May 19th,
<br />1930, of said City, numbered from 1 to 60, both numbers inclusive,
<br />aggregating Fifty -Five Thousand (,$55,000) dollars be and they are
<br />hereby sold to NATIONAL BANKITALY COMPANY for par, accrued interest`
<br />to date of delivery and a premium of Two Hundred Twenty -Three ($223.00)
<br />Dollars on a four and one-half percent (4-ro) interest basis; and
<br />BE IT FARTHER RESOLVED that the Treasurer of said City of
<br />Redwood City, upon the payment of said sum of par, being Fifty -Five
<br />i' Thousand (055,000) Dollars, accrued interest to'date of delivery
<br />and a premium of Two Hundred Twenty Three 0223.00) Dollars on a
<br />{. four and one-half percent (4%) basis, into the City Treasury of
<br />said City by said NATIONAL BANKITALY COMPANY be and he is hereby
<br />directed to deliver the said Municipal Improvement Bonds of 1930,
<br />j' dated May 19, 1930, of said City of Redwood City to said NATIONAL
<br />BANKITALY COMPANY, and,
<br />BE IT FURTHER RESOLVED by the Council of the City of Redwood
<br />City that said bonds be issued upon an interest basis of four and one-
<br />half percent (4-321a) instead of five and one-half percent (5,:L-%) as
<br />originally provided.
<br />i
<br />Councilman H. A. Beeger seconds the motion.
<br />Passed and adopted by the Council of the City of Redwood City
<br />at a regular meeting thereof held on the 2nd day of June, 1930, by
<br />the following vote:
<br />Ayes and in favor of the passage of the foregoing resolution,
<br />Councilmen: H.A.Beeger, W;J.Dusel, C.J.Hildebrant, E.B.Hinman, P.A.McCarthy,
<br />G.W.MeNulty, D.R.Stafford.
<br />Noes and against the passage of the foregoing resolution,
<br />Councilmen: NONE.
<br />Absent: Councilmen NONE.
<br />DANIEL R. STAFFORD
<br />Mayor of the City of Rechvood City.
<br />Attest:
<br />B. E. MYERS
<br />Clerk of the City of Redwood City
<br />f hereby approve the forgoing resolution this 2nd day of
<br />June, 1930,
<br />DANIEL R. STAFFORD
<br />itayvr vz me uvoy vi neauooa uivy.
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