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4( 4 <br /> <br />BESOLUTION NO. 244,4 <br /> <br />i~ESOLUTION AUTHORIZING SALE OF SECURITIES HELD <br />BY FIRST NATIONAL BANK OF SANTA ANA IN BOWERS! <br />MUSEUM TRUST. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA: <br /> <br /> THA~ w~EAS, the First National Bank of Santa Aha has reported to this <br />city, as the beneficiary of that certain trust known as Trust No. 58 of the First <br />National Bank of Santa Aha, that certain bonds now held in said trust have a <br />market value of approximately $4,200.00, and <br /> <br /> WEEREAS, this City Council has believed that none of the securities <br />held in sai~ trust were of any market value; <br /> <br /> NOW, THEREFORE, BE IT RESOLVED, that the said First National Bank of <br />Santa Aha be and it is hereby ~uthorize~, empowered and directed to sell at market <br />at a p~lce ~f approximately $35.00 fc~ each $100.00 of the par value thereof, <br />$12,000.00 par value Mid-State Horticultural Company 6% bonds, now held in said <br />trust; and also to sell five (5) shares of Garden Land Company, Ltd., for a <br />market value of approximately $5.00 per share. <br /> <br /> The said First National Bank of Santa Ana is further authorized and <br />directed to pay to the City of Santa Ana the proceeds from the sale of said <br />bonds into the Bowers' Memorial Trust Fund thereof. <br /> <br /> PASSED AND ADOPTED BY THE CITY COUNCIL of the City of Santa Aha at its <br />regular meeting-held on the4th day of November, 1935. <br /> <br />ATTEST: <br /> <br />E. L. Vegely <br /> City Clerk. <br /> <br />Fred C. Bowl.and <br /> May or. <br /> <br />STATE OF CALIFOR~JIA <br />COUNTY OF ORANGE <br /> <br />I, E. L. VEGELY, City Clerk s.ud Ex-officio Clerk of the City Council of <br /> <br />the City of Santa Aha, do hereby certify that the foregoing ResoluTion No. 2444 <br /> <br />was regularly introduced and adopted by said City Council at a regular meeting <br /> <br />thereof held on the 4th day of November, 1935, by the following vote, to-wit: <br /> <br />AYES, TRUSTEES: <br /> <br />NOES, TRUSTEES: <br /> <br />ABSENT, TRUSTEES: <br /> <br />Joseph P. Smith, Plummet W. Bruns, W.H.Penn, <br />Ernest H. Layton, Fred C. Rowland. <br /> <br />None <br /> <br />None <br /> <br /> E. L. Vege!y . <br />~i%y Clerk and Ex-officio <br />Clerk of the City Council <br />of the City of Santa Ana. <br /> <br />(SZaL). <br /> <br /> <br />