1934 (#2379-2403) - Laserfiche WebLink

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RESOLUTION NO. 2392 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA .~NA, CALIFORNIA, PROVIDING FOR THE EMPLOYMENT OF 0 '~.~ELVENY TULLER & ~SfERS IN CONNECTION 'JITH THE PROPOSED INVESTmeNT BOND PROC RED ING. W~EREAS, the City of Santa Aha has outstanding due and unpaid bonds issued under the "Improvement Bond Act of 1915"; and ';;H~REAS, because of delinquencies in the payment of assessments, it will be necessary for the city to levy a heavy tax upon all of the property in the city for the pa]rment of the principal and interest of such bonds; and ~HEREAS, the levy of such heavy tax this fiscal year may be made unnecessary by the issuance of Investment Bends of the City of Santa Aha, the proceeds of which would be used for the purpose of purchasing said bonds issued under the "Improvement bond act of 1915"; and V~EREAS, [he act under which said Investment Bonds will be issued has not been used and the procedure therefor has not been clearly defined by judicial decision, and it is advisable to employ bond attorneys to examine and give advice upon the proceedings, step by step as taken: NOW, THEREFORE, the City Council of the City of Santa Aha, California, does hereby resolve as follows: SECTION 1. That 0~Nelveny, Tuller & ~Iyers be and they are hereby employed to give advice in the preparation of the said proceedings, and their condensation therefor is h~reby fixed as the sum of eight hundred dollars (~800.00) in the event that the said bonds are authorized, and the sum of four hundred dollars (~400.00) in the event that said bonds are not approved by the voters at the election. If the bonds are authorized, the said services hereinabove mentioned shall include the opinion of said firm of attorneys upon the validity of said bonds. ADOPTED, SIG~DA~ APPROVED this 30th day of July, 1934. ATTEST: E. L. Vegely City Clerk 5~ayor o'f E. G. Warner the City of Santa Aha, California. (SEAL). 331