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Home My WebLink AboutMinutes - EVWD Board of Directors - 12/17/195426 December 1, 1954 RESOLUTION BE IT HEREBY RESOLVED AND ORDERED that the hereto attached NO. 19 Deed, executed by Marbarae Mutual Water Company to the East San Bernardino County Water District, dated December 1, 1954, be and the same is hereby accepted for and on behalf of said Water Dis- trict. BILL OF SALE FROM MARBARAE MUTUAL WATER CO. BE IT FURTHER RESOLVED, that a cony of this resolution be attached to said Deed and that the same be recorded in the office of the County Recorder of the County of San Bernardino, State of California, and filed in the records of this Board. Upon motion of Director Littleton, duly seconded by Director Wall, and carried unanimously, the following resolution is adopted and order made: RESOLUTION BE IT HEREBY RESOLVED AND ORDERED that the hereto attached No. 20 Bill of Sale, executed by Marbarae Mutual Water Company to the East San Bernardino County Water District, dated December 1, 1954, be and the same is hereby accepted for and on behalf of said Water District. ANNEXATIONS ADJOURNMENT December 17, 1954 ROLL CALL: BE IT FURTHER RESOLVED, that a copy of this resolution be attached to said I6"'and the same be recorded in the office of the County Recorder of the County of San Bernardino, State of California, and filed in the records of this Board. Petitions for annexation were discussed and arrangements made for the circulation of same. The Cordoza Ranch petition was received and same was mailed to Attorney Wilson. There being no further business, the meeting was adjourned to December 17, 1954 for the purpose of receiving and opening bids for the sale of the 1954 Water Revenue Bonds. PPROVEjl CtM z. E. Dana Brooks, President Myr e G. orth, Secretary EAST SAN BERNARDINO COUNTY WATER DISTRICT BOARD OF DIRECTORS - ADJOURNED REGULAR MEETING OF DECEMBER 17 1954_ The Board of Directors met at 7:30 o'clock P.M., December 17, 1954, at the regular meeting place. Directors Present: Botts, Brooks, Littleton, Wall Director Absent: Gesler Also present were Ernest A. Wilson of Kirkbride, Wilson, Herzfeld and Wallace, Attorneys at Law, San Mateo, California; J. B. Hanauer of J. B. Hanauer & Co., Los Angeles, California, and other interested parties. WATER REVENUE This being the time and place fixed for receiving bids for the BONDS OF 1955 sale of the Water Revenue Bonds of the District in the principal amount of $1,250,000.00 as indicated by Affidavits of Publica- tion on file with the Secretary of the District, President Brooks ordered the bids to be opened, which were found to be as follows: 27 December 17, 1954 1. Taylor and Comnany, Manager, Barcus, Kindred & Co., Gross, Rogers, Barbour, Smith, Boettcher and Comnany, Juran & Moody, Dempsey- Tegeler & Co., and Hannaford & Talbot bid $1,225,625, to bear interest at the following rates: For all of the bonds maturing in the years 1960 -70 inclusive, 3i% per annum; for all of the bonds maturing in the years 1971 -86 inclusive, 3 per annum; for all of the bonds maturing in the years 1987 -88 inclusive, 3% per annum. Iwo 2. J. B. Hanauer & Co., and Associates, bid 98.16721. of par, to bear interest at the following rates: For all of the bonds maturing in the years 1960 -63 inclusive, 2 3/4% per annum; for all of the bonds maturing in the years 1964 -69 inclusive, 3% ner annum; for all of the bonds maturing in the years 1970 -83 inclusive, 31% per annum; for all of the bonds maturing in the years 1984 -85 inclusive, 3J% per annum; for all of the bonds maturing in the years 1986 -88 inclusive, 3 per annum; 3. Blair & Company, Inc., bid 99% of par, to bear interest at the rate of 4%. By telegram the above bid was amended to read as follows: In connection with our bid for $1,250,000 nar value East San Bernardino County Water District Water Revenue Bonds of 1955, please lower the counon rate mentioned therein one -half percent (J%) and make the sum bid read ninety -eight and one one - hundredth nercent (98.011.) of nar.° 4. Schwabacher & Co., and John Nuveen & Co., bid $991.16 ner 1,000 bond, to bear interest at the rate of 3-%. Following discussion of the bids received, Attorney Wilson stated that the bid of Taylor & Company was the best bid, and he recom- mended that it be accented. AWARD OF RESOLUTION NO. 21 SALE OF BONDS RESOLVED, by the Board of Directors of the East San Bernardino County Water District, San Bernardino County, California, that WHEREAS, said Board, pursuant to its resolution calling for bids on sale of bonds adopted on November 3, 1954, gave due notice of said sale; WHEREAS, this is the time and place fixed therein for receiving bids for the purchase of said bonds, and said bids have been received and publicly opened, examined and declared by said Board; NOW, THEREFORE, IT I:9 ORDERED, as follows: 1. That all written bids received for the nurchase of said bonds, excenting the bid herein stated, be, and they are hereby, rejected, and that said bonds be, and they are hereby, ordered sold to Taylor. and Company, Manager, Barcus, Kindred & Co., Gross, i?ogers, Barbour, Smith, Boettcher and Company, Juran & Moody, Dempsey- Tegeler & Co, and Hannaford & Talbot as the highest responsible bidder therefor, with interest to the date of delivery of said bonds, said sale to be subject to all of the terms and conditions set forth in the notice calling for sealed nronosals. 2. That the Secretary of said District be, and she is hereby, directed to have said bonds printed forthwith, and that the same be immediately signed and sealed and delivered to said bidder On- ESON December 17, 1955 on receipt of the amount therefor as above stated, with interest but not otherwise, and upon the performance of the conditions contained in said written offer. 3. That said bonds be dated January 1, 1955, and that the rate or rates of interest on said bonds are hereby fixed as the rate or rates of interest stated in said bid: 1960 to 1970 maturities at 3 -1/21. oer annum, 1971 to 1986 maturities at 3 -1/41 oer annum, 1987 to 1988 maturities at 37. oer annum. ADJOURNMENT January 5, 1955 ROLL CALL: MINUTES: 4. That the price to be oaid for said bonds, as stated in said bid, is the sum of one million, tow hundred twenty -five thou- sand, six hundred twenty -five dollars ($1,225,625), plus accrued interest to the date of delivery. Upon Motion of Director Littleton, seconded by Director Botts Vote Polled: AYES: Directors: Botts, Brooks, Littleton, Wall NOES; Directors: None. ABSENT: Director: Gesler. On motion by Director 'gall, seconded by Director Littleton, and carried unanimously, the Secretary was instructed to return the bid checks to the unsuccessful bidders. There being no further business, the meeting was adjourned. APPROVED0 I E. ana Brooks, President Myrl r. No Secretary EAST SAN BERNARDINO COUNTY WATER DISTRICT BOARD OF DIRECTORS - REGULAR MEETING OF JANUARY 5,_1955 _______ The Board of Directors met at 7 :30 P.M., January 5, 1955, at the regular meeting place. Directors present: Botts, Brooks, Gesler, Littleton, Wall Lirectors absent: None. Minutes of the last meeting were read and approved. WAGES PAID BY A statement in the amount of $3,950.45 was oresented by McGLOTHLEN Mr. McGlothlen for wages paid for District labor by the Pioneer Gardens Water Company. Upon motion by Director Botts, duly seconded by Director Gesler, the statement was unanimously approved for payment. OBST CLAIM A notice of lien in the amount of $40,000.00 by Obst Jr., was OF LIEN presented to the Board by his attorney. After discussion said claim was ordered filed. In view of the above claim, upon motion by Director Wall, duly seconded by Director Gesler, and carried unanimously, it was ordered that Mr. McGlothlen of the Pioneer Gardens Water Company be required to provide a guarantee in Escrow that holds the District free and harTiless of all costs and liabilities that may arise by reason of such above liens, by depositing the pro- ceeds of any of these contracts in trust. Attorney Holcomb later stated that the claim had been settled and that no action need by taken by the District)