1935 (#2404-2460) - Laserfiche WebLink

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