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RESOLUTION NO. uu-~ AUTHORIZING PAYi4ENT OF <br />THIRTY-THREE SA~?i~A ~i%NA ~4UNICIPAL IMPROVF24ENT <br />BONDS AND FIFTY-THREE INTEREST COUPONS <br /> <br />WHEREAS, heretofore, the Security First National Bank <br /> <br />accepted from customers and paid face value for Bonds and coupons <br /> <br />as follows: <br /> <br />33, City of Santa Ana, 1~% Municipal Improvement <br />Bonds, Nos. 993 through 1009; and Nos. 1025 <br />through 1040, each for $1,000, maturing July 1, <br />1960, and each having July 1, 1960 coupon for <br />$6.25 attached. 20 City of Santa Ana Municipal <br />Improvement Coupons at $6.25 each, due July 1, <br />1960, from bonds nos. 1125 through 1135 and nos. <br />1491 through 1500 - total $33,331.25. <br /> <br />and said bonds and coupons were, on June 30, 1960, transported <br /> <br />to the Santa Ana Branch of said Bank by Brink's, Inc., were <br /> <br />receipted for by a teller in said BranCh and thereafter disappeared, <br /> <br />and search has failed to locate the same; and <br /> <br /> WHEREAS, after long negotiation and effort, said Bank has <br />expressed the belief that said bonds and coupons were inadvertently <br />destroyed, and have now delivered to the City a Lost Instrument <br />Bond issued by Pacific Indemnity Company guaranteeing the City, its <br />agents and employees against loss by reason of the presentation of <br />any of the said instruments, which Bond is in the amount of <br />$33,331.25, the face value of said instruments, together with a <br />guarantee from said Bank whereby said Bank requests payment for <br />said instruments without their prior delivery and agrees at all <br />times to hold the City of Santa Ana, its officers and employees <br />free and harmless from all loss, liability, cost or damage, including <br />counsel fees and court costs which might be suffered or incurred by <br />reason of such payment without prior surrender for cancellation. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED: That the City of Santa Ana <br />hereby authorizes payment to the Security First National Bank in <br />amount of $33,331.25 for the payment and redemption of the 33 bonds <br />and 53 coupons,hereinabove described and referred to by number, <br />without the prior delivery of said instruments and the surrender of <br /> <br />-1- <br /> <br /> <br />