Imperial Valley press., 1910-03-19
CITY WATER BONDS
 SOLD BY TRUSTEES Small Premium Obtained on Five and a Half Per
 Cent. Basis.
Abortive Attempt to Saddle Pearson on Next Board as Superintendent of Water System-Board Makes Contract For Drilling Test WelI- Corporation Notes Disposed of.

The City Trustees of El Centro met in special session at the City Hall at 7:30 o'clock on Tuesday even ing, March 15, all members being present.
 After the reading and approval of the minutes of the meeting of March 8, the advertisement for bids for the purchase of $69,O0O water works con- struction bonds was read by the Clerk | There being no bids the matter of the sale of said bonds under said adver- | tisement was declared closed. It was then decided to offer the bonds at private sale and to request bids from anyone present.
 Bids were then presented by the James H. Adams Company and the William R. Staats Company, said bids being presented in sealed envelopes and opened in due form by the City Clerk.
 The James H. Adams Company of fered to purchase the $69,000 bond is- sue for par, accrued interest and $69 premium, provided the bonds bear five and one-half per cent interest.
 The William R. Staats Company of- fered to purchase these bonds for par accrued interest and $1238 premium provided the bonds bear six per cent interest. Both bids were accompan- jed by the required certified checks.
 The bids so offered were discussed by the Board, and it was decided to the issuance of the bonds at five per cent interest, and enact new ordin- ance authorizing their issue at a rate of five and one-half per cent interest. Such an ordinance was introduced by Trustee Pellet and given its first reading, and then passed to it's sec ond reading and it's further consid- eration was deferred to the next reg ular meeting, March 22.
 The bid of James H. Adams Con- pany was then accepted by the unani- nous vote of the Board, and arrange ments were made for this company to superintend the printing of the bonds.
 The matter of the city notes for drilling the artesian well was then taken up and discussed, and was laid over to be considered at an adjourned meeting to be held on March 16, at 7:30 D. m.
 Ordinance No. AT, calling the muni- cipal election to be held April II for the election of five trustees, clerk, a marshal and a treasurer, was read by the clerk and adopted.
 w. c. Whitescarver asked for per mission to erect wagon scales in the street on Broadway fronting lot 91, block g, and such permission was granted.
 All bids for erecting the Public Li- brary were rejected by the Board and the readvertisement for bids was or dered.
 The Board then adjourned to meet on March 16, at 7:30 o'clock.
 Wednesdays Session.
 The City Trustees met in adjourn ed session on Wednesday evening, March 16, and after reading and ap- proval of the minutes of the previous meeting, the ordinance providing for the issuance of the city's notes for $5000 to secure money for sinking an artesian well, was placed on it's second reading, and adopted.
 After the passage of the ordinance, F. B. Fuller, for the El Centro Ma | tional Bank, made a verbal bid for the first two notes of $500 each, bear ing interest at the rate of seven per cent; and C,B. Estle, for the Coachel- la Valley Development Company, made 9 verbal bid for the third and fourth $500 notes of this issue Both bids were accepted, Mr. Fuller stated that he had assurance of placing the bal apce of the notes with Los Angeles savings banks in case the money is required to complete the we'll project
 The City Clerk read the proposed contract between the Coachella Valley Development Company and the city for drilling the we'll, and the City En- gineer explained to the Board the diff