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1952-2029thousand dollars RESOLUTION NO. 2029 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM, CALIFORNIA, DIRECTING THE CITY CLERK TO PUBLISH NOTICE INVITING SEALED PROPOSALS FOR $1,000,000 BONDS OF SAID CITY. WHEREAS, an ordinance providing for the issuance of bonds of the City of Anaheim in the amount of five hundred 500,000) to be designated WATERWORKS EXTENSION BONDS, 1952, and in the amount of five hundred thousand dollars ($500,000) to be designated ELECTRIC WORKS EXTENSION BONDS, 1952, has been introduced; and. WHEREAS, it is desirable that said bonds be sold; NOW, THEREFORE, the City Council of the City of Anaheim, California, DOES HEREBY RESOLVE, DETERMINE AND ORDER as follows: Section 1. That said bonds be sold and that sealed bids or proposals for the purchase of said bonds be received up to the time stated in the notice hereinafter set forth. Section 2. That the City Clerk be and he is hereby authorized and directed to publish said notice once in the ANAHEIM BULLETIN, a newspaper of general circulation printed, published and circulated in the City of Anaheim six days a week, such publication to be at least ten (10) days prior to November 25, 1952. as follows: Said as follows: Section 3. That said notice shall be substantially NOTICE INVITING BIDS ON $1,000,000 BONDS OF THE CITY OF ANAHEIM, CALIFORNIA NOTICE IS HEREBY GIVEN that the City Council of the City of Anaheim, California, will receive sealed proposals for the purchase of $1,000,000.00 par value general obligation bonds of said city, at its Chambers in the City Hall in said city, up to the hour of 8:00 o'clock, F.M., November 25, 1952. 1,000,000.00 of bonds consist of two issues 1. S500,000 WATERWORKS EXTENSION BONDS, 1952, voted for the extension and improvement of the waterworks system of the city, numbered 1 to 500, inclusive, of the denomination of $1000 each, to be dated December 1, 1952, and to be payable in consecutive numerical order, $25,000 on December 1 in each of the years 1953 to 1972. both inclusive. 2. $500,000 ELECTRIC WORKS EXTENSION BONDS, 1952, voted for the extension and improvement of the electric distribution system of the city numbered 1 to 500, inclusive, of the denomination of $1000 each, to be dated December 1, 1952, and to be payable in consecutive numerical order, $25,000 on December 1 in each of the years 1953 to 1972, both inclusive. Said bonds are to be payable in lawful money of the United States of America, at the office of the City Treasurer of the City of Anaheim, California, in said city, or at the main office of Bank of America National Trust and Savings Association in Los Angeles, California, or San Francisco, California, or at any fiscal agency of the City of Anaheim in Chicago, Illinois, or New York, New York, at the option of the holder thereof. The bonds are general obligations of the City of Anaheim issued pursuant to the laws and Constitution of the State of California and under an act sometimes referred to as the Municipal Bond Act of 1901. Each of said issues of bonds is to bear interest at a rate or rates to be determined upon the sale thereof but not to exceed four per cent (4 per annum, payable annually for the first year and semiannually thereafter. Each bid shall state that the bidder offers par and accrued interest to date of delivery and the interest rate or rates and premium, if any, on each 2. issue of bonds. The premium, if any, and the interest rate or rates must be separately stated for each issue of bonds. Each interest rate bid must be in multiples of 1/4 of 1 Not more than two interest rates may be bid on any one issue of bonds. No bid for more than two interest rates on one issue of bonds will be considered. No bond shall bear more than one interest rate. No bid for less than all of said bonds will be considered. Each bid shall be for all of the bonds or none. The bonds shall be sold for cash only and for not less than par and accrued interest to date of delivery. A certified or cashier's check on a responsible bank or trust company, in the amount of three per cent (3 of the principal amount of the bonds, payable to the order of the City of Anaheim, must accompany each proposal as a guaranty that the bidder, if successful, will accept and pay for said bonds in accordance with the terms of his bid. The proceeds of the check accompanying any accepted proposal shall be applied on the purchase price or, if such proposal is accepted but not performed, unless such failure of performance shall be caused by any act or omission of the City of Anaheim, shall then be retained by the city. The check accompany- ing each unaccepted proposal will be returned promptly. The unqualified opinion of O'Melveny Myers, attorneys, approving the validity of said bonds will be furnished the successful bidder at or prior to the date of delivery of the bonds, at the expense of the city. At the time of payment for and delivery of said bonds, the city will furnish the successful bidder a certificate that there is no litigation pending affecting the validity of the bonds. At any time before the bonds are tendered for delivery, the bidder may disaffirm and withdraw the proposal if the interest received by private holders from bonds of the same type and character shall be declared to be taxable income under present federal income tax laws, either by a ruling of the Bureau of Internal Revenue or by a decision of any federal court, or shall be declared taxable by the terms of any federal income tax law enacted subsequent to the date of this notice. Payment for and delivery of said bonds shall be made in the office of the City Treasurer of the City of Anaheim, California, or at the option of the purchaser, at the main office of Bank of America National Trust and Savings Association, 66o South Spring Street, Los Angeles 14, California. 3. The City Council of the City of Anaheim reserves the right to reject any or all bids or to waive any irregularity or informality in any bid to the extent permitted by law. GIVEN BY ORDER of the City Council of the City of Anaheim adopted October 28, 1952. (SEAL) October, 1952. ATTEST: CHARLES E. GRIFFITH, City Clerk ADOPTED, SIGNED AND APPROVED this 28th day of By: Deputy City Clerk of the City o Anaheim, California CHARLES E. GRIFFITH, City Clerk By: Deputy City Clerk of the City o Anaheim, California (SEAL) Mayor of he City o Anaheim, California STATE OF CALIFORNIA COUNTY OF ORANGE ss. CITY OF ANAHEIM I, CHARLES E. GRIFFITH, City Clerk of the City of Anaheim, California, DO HEREBY CERTIFY that the fore- going resolution was duly adopted by the City Council of said city and was approved by the Mayor of said city at a regular meeting of said City Council held on the 28th day of October, 1952, and that it was adopted by the following vote to wit: AYES: Councilmen Pearson, Wisser, Heying and Boney. NOES: Councilmen None. ABSENT: Councilmen Van Wagoner. (SEAL) CHARLES E. GRIFFITH, City Clerk By: Deputy Clerk of the City of Y Y Y Anaheim, California 5.