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{earing
<br />Amend. Appl. No. 323
<br />Elbert C. Mlssildine
<br />Ordinance
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<br />$ions or reservations on the title. The Mayor asked the Clerk if any written bid
<br />were received, and the Clerk stated two bids had been received. The Mayor instr
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<br />ted the Clerk to open the bids. The Clerk read the bid of Lincoln Savings and
<br /> Los Angeles,
<br />Loan Association,~in the amount of 4~2,000.00, reciting submission of a
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<br />49,200.00 check and Walter R. Gayner, Agent, Lincoln Savings and Loan Associatic
<br />advised he had in hand a Cashier's Check in the amount of 411, O00.O0 and submit-
<br />ted same to the Clerk. The Clerk read the bid of Dodd, Inc., in the amotuut of
<br />$92,000.00, being a term bid with a down payment of 437,000.00 First Trust Deed,
<br />and submitting a Cashier's Check in the amount of 410,0OO.OO. The Ma~or declare
<br />the amount of the highest written bid is 492,000.00 and stated the Council will
<br />now receive oral bids, the first bid must be not less than 4750.00 more than the
<br />$92,000.00, which is the amount of the highest written bid, and any subsequent
<br />bids after the first bid, if any, will be at the minimum amounts of 4100.00.
<br />Walter R. Gayner, Agent, Lincoln Savings and Loan Association, inquired whether
<br />this was a cash bid, and the Attorney explained the bid was to be cash only.
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<br />The Mayor stated that on the basis of the ruling by the City Attorney, the bid
<br />for cash is considered the highest and best written bid of 492,000.00, with the
<br />balance in thirty ds~vs. The Mayor stated the bid on the term basis was not
<br />considered to be an acceptable bid, and a written cash bid of 492,000.00 has bee
<br />submitted in accordance with the neWspaper advertisement. The Mayor asked if
<br />there are any bids to be submitted at this time from the floor? Walter Baker,
<br />Secretary, Dodd, Inc., 21~ W. Third Street, Santa Ana, raised their cash bid to
<br />$93,000.00. The City Attorney stated that both bids are qualified. Lincoln
<br />Savings and Loan Association raised their bid to 493,5OO.00; Dodd, Inc. raised
<br />their bid to 49h,000.00; Lincoln Savings and Loan Association raised to
<br />495,000.00; Dodd, Inc. raised to 497,500.00; Lincoln Savings and Loan Associati(
<br />raised to $98, O00.00~ Dodd, Inc. raised to $98,500.00; Lincoln Savings and Loan
<br />Association raised to 499,000.00; Dodd, Inc. raised to 4100,000.00; Lincoln
<br />Savings and Loan Association raised to $100,500.00~ Dodd, Inc. raised to
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<br />41Ol, OOO.O0; Lincoln Savtn~ and Loan Association raised to 4101,100.OO~ Dodd,
<br />Inc. raised to $101,200.00; Lincoln Savings and Loan Association raised to
<br />4101,300.00; Dcdd, Inc. raised to 4101,400.00; Lincoln Savings and Loan Associa-
<br />tion raised to 4101,500.00~ Dodd, Inc. raised to 4101,600.O0; Lincoln Savings
<br />and Loan Association raised to 410%,700.00. The Mayor asked if there are any
<br />further bids. The Mayor stated I have the bid of Lincoln Savings and Loan Assoc
<br />iation, in the amount of 4101,700.00, and if there are no further bids, this
<br />property will be sold toT~ncoln Savings and Loan Association. There will be onl
<br />two calls for bids. The Mayor announced there being no further bids, the Old
<br />Library property site is sold to Lincoln Savings and Loan Association, in the
<br />amount of $101,700.O0. It was moved by Councilman Hubbard, seconded by Heinly
<br />and carried~ that the Cashier's check submitted as deposit, in the amount of
<br />$10~OO.O0 be returned to Dodd, inc.
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<br />This being the date set for hearing on Amendment APplication No. 323, filed by
<br />Elbert C. Missildine, amending Sectional District Map 24-5-10, Exhibit 323-A,
<br />to reclassify from R-1 and R-2 Districts to C-2 District property described as
<br />36 lots, including the east side of Broadway, 480 feet south of the centerline
<br />of Edinger Street, the south side of Edinger Street between Broadway and Sycamor
<br />Street, and the west side of Sycamore Street 480 feet south of the center line
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