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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 princial amount the sum of $266,OOQ, consisting of 266 bonds of
<br />the denomination of 1000 each, all dated July 1, 1936. Bidders must 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 sped-
<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 lst and July•lat.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 lst
<br />in each of the years 1937 to 1941, both inclusive;
<br />$8,000 principal amount of saidbonds mature and are payable on July lot
<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 let
<br />in each of the years 1945 to 1948, both inclusive;
<br />$12,000 principal amount of said bonds..mature and are payable.on.-Tuly, lst
<br />in each of the years 1949 to 1951, both inclusive; and
<br />1 $15,000 principal amount of said bonds mature and are payable on July let
<br />in each of the years 1952 to 1956, both inclusive.
<br />1
<br />With each bid must 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 thebidder- will purchase;ancl 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 />as specified. All bids must be unconditional., and, together with bidderl-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 />�i 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,esttftte is 12,500.
<br />The assessed valuation of all taxable property in said.Oity for the year 1936-37.is
<br />$14,254,000.00, and the total bonded indebtedness (not including this issue) is
<br />$2109877.00. 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 $174,5+7.59 $17,632..69 ------
<br />193� 34 147;65g.42 19,636.43 ------
<br />l93`►-35 159,016.29 21,22.29, ------
<br />1935-36 16g,84o.51 16616.36 $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 />iB. E. MYERS
<br />City Clerk of, the City of Redwood
<br />City, California
<br />Section 1. 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 />jSection This resolution shall take effect immediately.
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