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
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erbert _, y cite - City Clerk