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HomeMy WebLinkAboutReso - CC - 011-1949RESOLUTION? NO. I1-49 DECLARING TIM INTENTION NOT TO SELL $170,000.00 GENERAL OBLIGATION BONDS, AUTHOIIIZED BY 5:�.�CIAL ELECTIOK HELD APRIL 13, 1948 WM!7tEI-;S, at a special Bond Election held April 13, 1948, in the City of Burlingame, the City Council was authorized to sell '', 1'70, 000.00 General Obligation Bonds of the City for the purchase of fire equipment and other purposes as stated in Proposition No. 1 on the Ballot in said election; and ,-411E LEAS, a question arose as to the validity of the election, based upon technicalities, and the result of which would have to be determined by the courts, and the time therein consummed might result to the disadvantage of the city; and WHEREAS, the City Council anxious to save money by taking advantage of an offer which could extend only until December 15, 1948, ordered a second election to be held on December 7, 1948, for the same purposes as stated in Proposition ?o. 1, on the ballot in Special w1lection held i pril 13, 1948; and WHEREAS, at said election on December 7, 1948, authority was again duly given for the same purposes as above referred to and bonds in the sum of `r'170,000.00 were again authorized to be sold; and WHEREAS, the Supreme Court of California on February 18, 1949, in an action therein pending involving a si-railar situation decided that the bonds voted and authorized in the election of April 13, 1948, were valid; and WIEREAS., the City Council is desirous of now making its position thoroughly understood, and to declare its intention herein, does now RE6OLV D, that it will only sell .,1170,000.00 general oblaga- tion bonds for fire purposes, as authorized by the election held December 7, 1948, and will not sell the $170,000.00 bonds authorized by the election held April 13, 1948, and will in due course cancel the unsold bonds as provided by law, and BE 1T FURTHER RESOLVED that the action taken by this resolution shall in no manner affect the Recreation Bonds here- tofore sold. U. S. SimonUs, Jr., - Mayor, I, Herbert K. '>>hite, City Clerk, do hereby certify that the foregoing resolution was introduced at a regular meeting of the Burlingame City Council, held February 21, 1949, and adopted thereafter by the following vote: AYES: COUPiCIL1EN: Dahl -Harper -Hunt -Love -Simonds NOLS: COUNCILI4EN: None ABSENT COUNCILMEN: None ��.�IOe/� erbert _, y cite - City Clerk