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K11
<br />RESOLUTION. OF THE COUNCIL OF THE CITY OF RED1700D CITY CANCELLING
<br />SALE OF $350,000 PRINCIPAL AMOUNT OF GENERAL IMPROVEMENT
<br />FUND BONDS OF 1937
<br />17 AS, 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 2-3/4% per annum, payable semi-annually; and
<br />11HEREAS•, 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 />NOW8 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 Fund 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 snm of $1,000 deposited by
<br />Stone & Youngberg with said City Council at the time of'said sale.
<br />3. That said.bonde,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.sala 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 />1937,11 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 1938 to
<br />1947, 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 />1. That the action of the City Clerk in mailing notice of the
<br />sale of sai& 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 1936,11 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 January 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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