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HomeMy WebLinkAboutCC Ord 898 1973-03-12 I' I 'I , . . ORDINANCE NO.U. AN ORD INAlI; E OF THE CITY OF SEAL BEAC H, CALIFORNIA, ORDERING, CALLING, PROVIDING FOR AND GIVING NOTICE OF A SPECIAL ELECTION WITHIN MUNICIPAL PARK IMPROVEMENT DISTRICT NO. 1 OF THE CITY OF SEAL BEACH (AS THAT DISTRICT IS DESCRIBED IN SECTION 2 OF SEAL BEACH ORDINAlI;E NO. 896) ON MAY 15, 1973, FOR THE PURPOSE OF SUBMITTING TO THE QUAL- IFIED VOTERS OF SAID DISTRICT A PROPOSITION TO IN::UR BONDED INDEBTEDNESS BY SAID DISTRICT FOR THE PURPOSE OF ACQUIRING AND IMPROVING A PARK WITHIN THE DISTRICT WHEREAS, pursuant to Article 6, Chapter 2 of Division 5 of the Public Resources, the City Council of the City of Seal Beach has received a petition signed by more than ten percent of the qualified electors of Municipal Park Improvement District No. I, has adopted an Ordinance of intention to call an election (Ordinance No. 896), has held the required protest hearing at which there was less than a majority protest, and has denied all protests; NOW, THEREFORE, the City Council of the City of Seal Beach does hereby ordain as follows: Section 1. That a special election be held and the same is hereby called to be held within Municipal Park Improvement District No.1 of the City of Seal Beach on May 15, 1973, for the purpose of submitting to the qualified voters of said District the proposition hereinafter set forth of incurring indebtedness I and issuing bonds of said District therefor, in the principal I amount stated in the ballot propositio~ hereinafter set forth, , , and for the object and purpose set forth in said Ordinance No. 896 and recited below. -1- Ordinance Number " Section 2. The exterior boundaries of Municipal Park Improvement District No. 1 of the City of Seal Beach II are: Beginning at the intersection of the northerly right of way line of Route 405 and the easterly City boundary; thence northerly along said east City boundary to its inter- section with the north City boundary line, said line also being the northerly right of way line of Lampson AVEnue; thence westerly and southwesterly along said northerly right of way line of Lampson Avenue to the intersection of the prolongation of the easterly line of Parcel No. 2 as shown on Record of Survey Map 3849 as recorded in Miscellaneous Maps of Orange County; thence southwesterly along the southerly line and its pro- longation to the intersection with the centerlin~ of Basswood Avenue; thence southwester~y along said centerline to the inter~ section of Aster Street; thence southerly along the centerline 1 I of Aster Street and its prolongation to the intersection of the northerly right of way line of Route 405; thence easterly along said right of way line to the true point of beginning; all within the City of Seal Beach. Section 3. The improvement or work proposed to be acquired or constructed consists of the acquisition and develop~ ment for public park purposes of that certain parcel of vacant land consisting of approximately 7.85 acres located in the City of Seal Beach within an area bounded by Lampson Avenue on the West, Candleberry Avenue on the North, Aster Street on the East and Basswood Street on the South. Section 4. , I That the estimated cost of the improvement or work described in said ballot proposition is the sum of .,gf{7~ OtOo./ $9,7gela~o. The estimated cost of incidental expenses of >- ~ ~2~ I 1 I Ordinance Number said municipal improvement, including but not limited to, the following: (a) legal or other fees incidental to or connected with the authorization, issuance and sale of the bonds, and (b) the costs of printing the bonds and other costs and expenses incidental to or connected with the authorization, issuance and sale of the bonds is the sum of $30,000.00. Section 5. The principal amount of said bonded indebtedness will be one million@l,OOO,OOO.OO) dollars and the rate of interest to be paid on such indebtedness shall not exceed 7 per centum per annum. Section 6. The principal and interest on the bonded indebtedness shall be paid by an annual tax to be levied and collected upon all taxable property in the District in the same manner as for the general tax levy in an amount sufficient to pay the interest on the bonds for that year, and such portion of the principal as is to become due before the time for making the next general tax levy; provided, however, that if the maturity of the indebtedness created by the issue of such bonds be made to begin more than one year after the date of issue, such tax shall be levied and collected, each year sufficient to pay the interest on the indebtedness as it falls due, and also to constitute a sinking fund for the payment of the principal on or before maturity. The tax shall be in addition to all other taxes levied for municipal ,purposes and when collected shall be paid into the treasury of the city and be used for the payment of the principal and interest on such bonds and for no other purpose. Section 7. That the maximum rate of interest to be paid on said indebtedness shall not exceed seven per centum -3- Ordinance Number (7%) per annum, the actual rate or rates of interest on said bonds to be determined at or prior to the time of the sale r ' or sales thereof. Said interest shall be payable semiannually II except that interest for the first year may be made payable at the end of said year. Section 8. That the proposi~ion voted upon at said election shall be substantially as follows: PARK IMPROVEMENT DISTRICT BOND PROPOSITION: Shall bonded indebtedness be incurred by the issuance of bonds of Municipal Park Improvement District No. 1 of the City of Seal Beach in the principal amount of one million ($1,000,000.00) dollars and an interest rate of not to exceed 7 per centum per annum, which I principal and interest shall be paid by an annual tax levy upon all taxable property in the District, for the ~_j purposes of acquiring and improving an approximately 7.8~ ~ acre park within the District? , Section 9. That if the proposition for the incurring of bonded indebtedness so submitted receives the requisite number of votes, to wit: two-thirds of the votes of the qualified electors voting on said proposition, bonds of said District, in not exceeding the principal amount stated in such proposition, may be issued and sold for the object and purposes set forth in said proposition. Section 10. That except as otherwise provided in this ordinance, the election called hereby shall be conducted ~- as provided by law for other municipal elections in the City I I of Seal Beach. Section 11. That for the purpose of holding said Special Municipal Election there shall be and are hereby -4- I 1 I Ordinance Number . Voting Precinct 5, comprising of regular election precinct 36-318. Polling Place: Inspector: Judge: Clerk: Barry Residence, 3781 Wisteria Street Mrs. D.M. Barry, 3781 Wisteria Street Mrs. J.A. Woodson, 3740 Wisteria Street Mrs. L.L. Laisy, 3730 Wisteria Street Voting Precinct 6, comprising of regular election precinct 36-319. Polling Place: Inspector: Judge: Clerk: Clark Residence, 4448 Dogwood Avenue Mrs. B.J. Clark, 4448 Dogwood Avenue Mrs. J.R. Thomas, 4440 Dogwood Avenue Mrs. R.R. Bargemann, 4509 Dogwood Avenue Voting Precinct 7, comprising of regular election precinct 36-334. Polling Place: Inspector: Judge: Clerk: Fober Residence, 4764 Hazelnut Avenue Mrs. P.A. Fober, 4764 Hazelnut Avenue Mrs. D. Sparks, 4880 Ironwood Avenue Mrs. M.R. McVerry, 4856 Hazelnut Avenue Section 12. That the compensation of the persons hereinbefore named as election officers is hereby fixed at the sum of Twenty-one Dollars for each Inspector and Eighteen Dollars for each Judge and Clerk for said election. The rental for each of such polling places, where a charge is made, shall be the sum of Eifteen Dollars for said election. Section 13. That the polls for said election shall be open at seven o'clock A.M. of the day of said election and shall remain open continuously from said time until eight o'clock P.M. of the same day when said polls shall be closed, except as provided in Section 14436 of the Elections Code of the State of California. Section 14. That the procedure for the preparation and form for the submission of arguments for this election shall be as prescribed in Article 4, Chapter' 3, Division 4, of the Elections Code of the State of California. -6- 1 I I Ordinance Number . ., Section 15. That notice of the time and place of holding said election is hereby given and the City Clerk is hereby authorized, instructed, and directed to give such further notice of said election in time, form, and manner as required by law. Section 16. Pursuant to Section 416 of the City Charter, this Ordinance shall take effect and be in force immediately upon its adoption. Section 17. The City Clerk shall certify to the passage and adoption of this Ordinance by the City Council and shall cause the same to be posted as required by law. -d PASSED, APPROVED, AND ADOPTED this /~ -day of March, 1973. ~A-A~ ~~ MAYOR OF T CITY OF SE BEK:H ATTEST: t, Jerdys Weir, City Clerk of the City of Seal Beach, hereby certify that the foregoing ordinance was introduced and a~~ at a re~~~ of the:Seal Beach City Council held on the __day of ___, ~~:~ '~~~~:1~A_$~~)~'J I r ABSENT: Councilmen_ ~ 11 .-J