1950 (#3889-4034) - Laserfiche WebLink

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NOTICE INVITING BID8 ON $475,000 BONDS OF Tm CITY OF SANTA ANA, CALIFORNIA. NOTICE IS HEREBY GIVEN that the Council of the City of Santa Ana, California, will receive sealed proposals for the purchase of ~475,000 par value general obligation bonds of said City, at its Chambers in the City Hall in said city, up to the hour of 2:00 o'clock, P.~.~., California Daylight Saving Time, August 21, 1950. The bonds are designated FIRE DEPARTS~NT BOND, 1950, are to be dated September l, 1950, are 475 in number, num- bered I to 475, inclusive, of the denomination of $1,000 each, and are to be payable in consecutive numerical order, twenty (20) bonds annually on September 1st of each year from September l, 1951 to September l, 1973, both inclusive, and fifteen (l~) bonds on September l, 1974. Said bonds are to be payable in lawful money of the United States of America, at the office of the Treasurer of the City of Santa Ana in said city. The bonds are general obligations of the City of Santa Ana issued pursuant to the laws and Constitution of the State of California and under an act sometimes referred to as the ~unicipal Bond Act of 1901. Each bid shall state that the bidder offers par and accrued interest to date of delivery, the premium, if any, and the interest rate or rates not to exceed four per cent (4%) per annum, payable semiannually, at which the bidder offers to buy said bo~ds. Said rate or rates must be in multiples of 1/~ of l~. Not more than two interest rates may be bid. No bond shall bear more than one interest rate. No bid for a part of said bonds will be considered. The bonds shall be sold for cash only ~nd 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 bid for, payable to the order of the City of Santa ~na, must accompany each pro- posal 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 Santa Aha, shall then be retained by the City. The check accompanying each unaccepted pro- posal will be returned promptly. The unqualified approving legal opinion of O'Melveny & Myers, attorneys, will be furnished the successful bidder or bidders at or prior to delivery of the bonds, at the ex- pense of the City. At the time of payment for and delivery of the bonds, the City will furnish the buyer a certificate that there is no litigation pending affecting the validity of the bonds. J