HomeMy WebLinkAboutCC Ord 259 1941-10-02
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ORDINANOE ~O. 259
INAYOE OF THE OITY OF SEAL BEAOH,
O~':IA..!. PROVlDI,:G FOR THE ISf:jU~ICE
~DS O~' BAlD OI~Y FOR THE PURPOSE
OF I..;(JURRI"~G BO:'DED EDEBTED~.ESS BY Sit.ID
CITY FOR 'l'HE AOQUISITIOIT OF LAUD; ALSO
FO~ THE PURPOSE CF THE AOQUISITIOll, UON-
,STRUUTIO.r xm CC:.PLETIO:t OF A JETTY .ii.~lD
BREAI;.,I.ii.TER; .a~D, ALSO FOR THE P'DRPOBE
OF THE A0QUIBITIO~, OORSTRUCTIOi AND
1J0:.PLETIClT OF GROI:..rs .\;:1) DREDGIllG.
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.:HERUS, pursuant to Ordinance :!o. 255 of the City of
Seal Beaoh, Oalifornia, a special election ~as duly and regularly
held in seid City on the 12th day of August, lS~l, at uhich election
there were subu1tted to the qualified voters of said Oity the foll-
owing propositions, to-uit:
PROPOSITION I: Shall the Oity of Seal Beaoh incur a
bonded indebtednesB in the principal amount of $0,000.00
for the acquisition by the Oity of Seal Beach, of a
certain 1:111nioi::;>81 i:.:.proveL::ent, to-\1i t: The acquisition
of land along the ooean front for street and recreatio~al
purposes?
PROPOSITIO:: II: Sh['l.ll the (11 ty of Sed Be'och incur a
bonded indebtedness in the ,rincipal sum of j55,lOO.QO
.for the aoquisition, construction and coopletion by the
Oity of 3eal Beach of a certain ourilciual i~~roveuent;
to-uit: The acquisition, construction" and completion
of a jetty and breakwater to protect the streets, evenues,
lenes aud other publio plaoes and other property in such
City, from overflou by uater, and to prouote co~eroe,
fisheries uud navigation including the acouisition of
land and rights-of-way alm all labor, l.1.aterials and
, other property uecess~ry therefor?
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PROPOSITIon III: Shall the Uity of Seal Beach incur a
bonded indebtedness in the )rincipal SUli1 of ,Sl03,600.00
for the aoquisition, oonstruction and completion by the
Oity of ~eal Beach of a certain munioipal iuprovewent;
to-wit: The acquisition, construotion and completion
of groins exteudinb into the Pacifio Ooean and the
dred~ing and de?osit of dredged material to proteot the
streets, avenues, lanes and other places and other
property in such Oity from overflow by water, including
the aCQuisition of ~~l land, rights-of-way, labor,
aaterials and other )roperty necessary therefor?
and
.;~EAS, eBch of said propositions received the 8ffir~ative
vote and assent of 1.1.0re than tuo-thirds of all the qualified voters
of srid Oity votin~ ~t scid election ~nd the said Oity is nou
~utnorized to issue bon~a in the amounts and for the pu~oses here-
inbefore specified:
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Ordinance Number
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.:0.:, THEREFuRE, the Oi ty tJouncil of tile CJi t~r of 6eEll Beech,
OEllifornia, does ord~in as follous:
BEO~IC~: 1: ~nRt bonds of the Oity of Seal Beach in the ~ount
of Forty Thousand Dollars (;40,000.00), be issued end sold for the
purposes stete~ in Proposition I, set forth in the recitals herein
above. 5e.id bonds to 'be desi.::;nated "Bercll ",cC!llisition BO~lds of 1941".
Said bonds to be forty (~O) in number, numbered fr~J one (1) to forty
(40), inclusive, fmd silall "oe of the denooination of One Tl1ouse.nd
Dollars (~l,OOO.OO) each; all of said bonds shall be dated December 1,
19~1, and shBll ~ature and be payable in consecutive nuuerical order
from lower to hiITher, two bonds of the denominction of One Thousand
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Dolla.rs (.,pl,Ooo.OO) ecch 0,1 Deceuber 1st in each of the years from
1942 to 1961; both inclusive.
SEOTIO~ 2: That bonds of the City of SeEl~ Beaoh in the auount
of Fifty-Five Thousand One Hundred Dollars ()55,lOO.00) be issued and
sol~ for the ,urposes stcted in Proposition II, set forth in the
reci tals herein a"oove. &aid bO.lds shall 'be designr.ted "Bree.l::\'!ater
Bonds of 19~1". Said "oonds shell be fifty-six (56) in number, nULlbered
frow one (1) to fifty-six (56), inclusive and shall be of the deilomi-
l1ation of One Thousand Dollars (.;1000.00) each \lith the exception of
bond nU1llber fifty-six (56) u.lich s.lell "oe of the deuowinEl.tion of One
Hundred Uolle.rs (jlOO.OO); all of said bonds s~all be dated December
1, 19~1, end slla,ll 1.llture and be paye.ble in cOl1secutive nuuericl:~
order frow lo~er to hi~her, three bOllds of the denooination of one
ThouSL'nd Dollcrs (,;1000.00) ench 011 Dece..iber 1st in each of the ~'ears
from 19!j.2 to 1958, inolusive, and four bonds of the denomination of
One Thousand Dollars (jlOOO.OO), ~nd one b01ld of One Hundred Dollare
( 1100.00) on Deceober 1st, 1959.
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Ordinance Number
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SECTIO~ 3. Thpt bonds of the Oity of ,eel Beach in the amount
of One Hur~red Three ~Aousand r~d Six Hundred Dollars ()103,600.00)
~e issued and sold for the purposes stated in ~roposition III set
forth in tne recitals ~erein above. Said bonds shall be designated
\I Dredging Bonds of 1911-l". 3aid bonds shall be one hundred four (104)
in nU1,lber, num'bered from one (1) to one hundred E),nd four (104), inclu-
sive, and shall be of the denomination of One Thousand Dollars (jlOOO)
ili th the exception of bond nUh1ber one hundred and four (1011-) which
shell be of the deno~ination of Six Hundred Dolla~s (J600.o0); all of
said bonds shall be dated Deoember 1, 19!j.l, Dnd shall uature and be
payable in consecutive nuuerical order froc l0\7er to hi~her, five
bonds of the denooination of One Thousand Dollars (~1000.00) eaoh, on
December 1st in eaoh of the years frou 1942 to 1952, inclusive, and
six bonds of the deno~inetion of One Thousond Dollars (;1000.00) each
on December 1st in each of the years fro~ 1953 to 1959r inclusive,
a,nd six bonds of the den6~ination of One Thousand Dollars (.,plOOO:OO)
eaoh and one bond of ijix Hundred Dollars (J6oo.00) on Dece~ber 1st,
1960.
BEU'flU;':' 4. .all of the 00 nds ,:::o'1ided for herein shall bear
iL.terest a,t a rc,te or r!'tes to be hereafter fixed by resolution but
not to ,exoeed six per cent (6~) !1er annw, ,ayable se:li-e.nnually on
June and December 1, in each year, which interest sAall be evidenced
by ooupons nttached to each bond, a~ each of seid coupons shall
represent six months' interest on the bond to uhioh it is attaohed.
The principal end interest of said bonds shall be payable at the
office of the Oity ~reesurer, Sepl Beeoh, Oalifornie., in lom'ul h10ney
of the United ~t8tes of _~erioa.
BEOTIOY 5. Soid bonds shall each be subst~ntially in the
follo~7ing fori.l, the blaU::s in sfl.id foru end in the form of ooupon
given below, to be filled \lith ap;Jro:!)riate \Tords or ficrures, nauely:
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tUfITED ST~TES OF ~RICA
STATE OF ai~IFOR~IA
County of Orange
OITY OF B"Ji:AL BEACH
BOj"l)B OF 19lj.l
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The CITY OF BEAL BEAOH, Oalifornia, a municipal corporation
of the state of Oalifornia, hereby acknouledges itself indebted
e.nd for value received prolaises to pay to the bearer (or, if this
bond be registered, to the registered ouner tilereof), on the 1st day
of Dece~ber, 19___, the sum of
DOLLARS
and to pay interest hereon at the rate of per annum,
pl:'ya"ole on June 1st and Dece.:ioer 1st in et',ch year until 118turi ty,
upon surrender of the annexed coupons as they severally bee ODe due
(or, if this bond be re3istered as to both 9rinciyal end interest,
to the re~istered ouner hereof). Both principal and interest of
this bond are ~)eyable in la\;ful Doney of the Uni ted States of _trlerice.
at the office of the Jity Treasurer in the City of Seal Bench, OrDn~e
.Jounty, ";alifornia. For the punctual peytlent of this bond, tTi th
interest hereon as aforesaid, and for the levy and collection of
taxes sufficient for that purpose, the full faith pnd credit of said
Jity of Seal Beach are hereby irrevocably pledged.
This bond may be registered as to both principal and interest
in accordance uith the provisions on the back hereof.
This bond is authorized by a two-thirds vote of the qualified
voters of said Oity of Seal Beach voting at an election duly oalled
and held on the 12th day of August, 19lj.l, and is issued pursuant to
the Uonstitution and Btatutes of the state of California, including
an Act of the Legislature of the State of California entitled "An Act
authorizing the incurring of indebtedness by cities, tor-ns and rmni-
cipal corporations for cunicipal illprovenents and rebulatinb the
acquisi tion, construction or co;.;pletion thereof, II uhich becalJe a la.u
Februpry 25, 1901, End acts auendatory thereof end sup~leuente.ry
thereto.
It is hereby certified and recited that all the conditions,
ects and thin~s re~uired by the Oonstitution and Statutes of the
state of California, to exist, to ha,ve ha:Jpened ;ond to he,ve been
perforued, precedent to and in the issuance of this bond exist, exist,
heve happened, end have been perfonled, end that the issue of bonds
of tlhieh this is one, to~ther lli th all other il1debtedness of s(lid
uity of Seal Ber.ch, is uithin every debt e.Tld other lio.it prescribed
by tr.e Gonstitution and Leus of s~id stete.
Ij,'; .:I"i'~-.d:.:.a "F.EREOF, the Oi ty of Seal Beach has caused this
bond to be si~ned by the ~yor end Treasurer of the Oity of Seal Beach,
to be countersigned ~y the Gity Clerk of the Oity of Seal Beach, and
to be se~led uith its corporate seol, and the ooupons hereto annexed
to be si~ned by the frcsilJile si~nature of its Treasurer, and this
bond to be dated the 1st dc,y of Decelolber, 1941.
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~;ayor of the City of Seel Beech,
Oalifornia.
Oounte'rsibned:
Treasurer of the Oity of Seal Beaoh,
ue,lifornia.
iJity Clerk of the Oity of
Seal Beach, Oalifornia.
(Ooupon Form)
On the _day of
19_
Ooupon I!o.
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The OITY CF SEAL BEAOH, a uunicipal corporation
of The State'of Oelifornia, uill ~ay to the
bearer the s~ of J , in lauful Doney
of the United states, at the office of the
Treasurer of Seal Beach, in Seal Beaoh, ualif-
orni~, bein the seni-annual interest then due
on its Desi~nated Bond of 19
d~ted Dece~ber 1, 1, end beering no.
O. Z. IRVIi!E
Treasurer of the uity of
Seal Beach, Oalifornia.
SA:O'l'IOE 6: For the purpose of paying the principal and interest
of said bonds the Oity Council of said City of Seal Beach shall, at
the ti~e for fixing the general tax levy and in the ~anner for such
aeneral t~~ levy provided, levy ~lld colleot annually each year, until
such bonds are :Jc.id or until there shall be a sum in the trea.sury of
s~id Oity set epart for that purpose suffioient to meet all sums
becoming due for principal and interest on said bonds, a tax sufficient
to pay the annual interest on said bonds, as the same beco~es due, and
also such part of the principal thereof as shall beco~e due before
the proceeds of a tax levied at the time for ~aking the next general
tax levy can be uade available for the payment of such principal.
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Said tax shall be in addition to all other taxes levied for
~unicipal purposes, and shall be collected at the same tioe and in
the se~e manner as other municipal taxes are oollected, and as
colleoted shall be forthwith paid into a fund or funds for ~hich the
same were levied and collected. Such funds shall be designa.ted,
respecti vely, a.s II,Beach jlcquisi tion Bond Fund of 194111, IIBreakwater
Bond Fund of 194111, and IIDredging Bond Fund of 1941"; and all sums
to become due for principal and interest on said bonds shall be paid
from such funds.
SEOTIOH 7: The Layor of said City of Seal Beach and the
Treasurer of said 'Oity are hereby authorized and directed respeot-
ively as suoh officers, to sign each of said bonds on behalf of said
Oity, and the Oity Olerk is hereby authorized and directed to
countersign each of said bonds and to affix the corporate seal of
said City thereto; and t~e said Treasurer is hereby authorized and
directed to sign each of the interest coupons by his printed,
lithographed or engraved fa~si~ile signature.
SEOTION S: That there are hereby created and established
the following funds respectively, to-wit: IIBeach Acquisition Fund
of 194111, IIBreakwater Construction Fund of 194111, and IIDredging and
Groin Construction Fund of 194111, into which respective funds all
of the respective proceeds of the sale of said respective issues of
bonds shall be placed by the Treasurer. The respective proceeds of
the sale of said respective issues of bonds, when so deposited in
said respective funds as aforesaid, shall respectively be used
exclusively for the respective objects and purposes stated'in the
respective propositions set forth in the recitals hereof.
BECTION 9: The City Olerk shall certify to the passage
and adoption of this Ordinance by a vote of more than tuo-thirds
of all of the members of the City Council of said Oity at a regular
meeting of said Uouncil and its approval by the i:ayor of said Ui ty,
and shall cause this Ordinance to be published at least once in the
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II Seal Beach Post & "i'avell, a neuspaper of general circulation,
printed and published \ieekly in s/;'l,id Oi ty.
Passed, adopted and approved this ~~ day of October, 19~1.
(SEAL)
ATTEST:-Plk IJ,~
Ui ty lllerk
1.&YOr~~f::;;:
Oali ornia.
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STATE OF O.u.IFOR~;I.\)
Oounty of Orange)
City of Seal Beach)
I, OL~IE B. PADRIOK, 0ity Olerk of the City of Seal Beach,
Oelifornia, do hereby certify thct the foregoing Ordinance was
duly passed and adopted by the Oity Council of said~ity at a
regular ~eeting of said Oounoil duly held on the~~_ day of
October, 19~1, and signed f.nd approved by the ~~ayor-or said
City, and that said Ordinanoe uas passed and adopted by a vote
of more than tuo-thirds of the members of said Uity Oounoil,
as follous:
SSe
AYES:
Oouncilmen: ~t:~
Oouncilmen I ~
Councilmen.. ~
~;AYES:
ABSI!::lT:
(SEAL)
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Oler 01' the' y 0
Seal Beach, aalifornia.
STATE OF OALIFORUIA ~
County of Orance ss.
Oity of Beal Beach
I, OLLIE B, PaDRICK, Oity Olerk of the City of Seal Beach,
County of Oran;;e, State of Oalifornia, do hereby certify that
the foregoing is a full, true and correct copy of the original
Ordinance i:o. 259 no\'1 on file and of record in my office, ui th
r.hich ori~inal I have oarefully cOlilpared the S(l1_ie.
II'!' \1ITlIESB ~/HEREOF, I ha,ve hereunto set ny hand and affixed
the official secl of said City of Seal Beach, Op.lifornin, this
a~ day of October, 1941.
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(J Y Jler 0 he 0 y of
Seal Beech, Oalifornia.
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