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HomeMy WebLinkAboutCC Ord 144 1928-04-19 .. 1 I I ORDINANCE NO./U- AN ORDINANCE OF THE CI'l'Y OF SEAL BEACH PRO- VIDING FOR THE ISSUANCE OF BONDS OF 5AID CITY IN THE AMOUNT OF $20,000.00 FOR THE ACQUISITION AND CONSTRUC~ION BY SAID CITY OF A CERTAIN MUNICIPAL IMPROVEMENT, TO-WIT" THE EXTENSION OF THE PRESENT SEWER SYSTEM OF SAID CITY. WHEREAS, pursuant to Resolution No. 149 and ordinance No. l4l, of the City of Seal Beach, a special election was duly and regularly held in said city on the 12th day of March, 1928, at which election there was submitted to the qualified voters of said city the following proposition, to-wit: Shall the City of Seal Beach incur a bonded indebtedness of $20,000.00 for the purpose of the acquisition and construction by the City of Seal Beach of a certain municipal improve- ment, to-wit: The extension o~ the present sewer system of said city by the acquisition and const~ction of a sewage pumping plant and the construction ot additional collecting sew- ers, including lateral sewers, ~ntercepting sewers and main-...'line sewer&;; in~'s B.i:d' ci ty, and including the-~cquisition ot.al~'materials and machinery therefor. .. , .yo. ." , and " .' ~J , ' WHEREAS, said.proposition received the affirmative . " I " ' vote and assent or more the -t'wo':'thirtl:s' "of all tlie', qual ified voters of said city voting ~t the said election and the said city is now authorized to issue bonds in the amount and for the purpose hereinbefore specified; y NOW, THEREFORE, the City Council and Board of Trustees or the City of Seal Beach do Seotion 1: That ordain as follows: " bonds of the City of Seal Beach in the amount of Twenty Thousand Dollars ($20,000.00) be issued and sold for the purpose set out in the recital hereof. Said bonds shall be twenty (20) in number, numbered from one (1) to twenty (20), inclusive, and shall be of the, denomination of one Thousand Dollars ($1,000.00) each. All of said bonds shall be, dated April I, 1928. Bond No.1 shall be payable April 1, 1929, , " ~ " .. - ~... J _ ". . 1 I I Ordinance Number ~d one of said bonds, in numerical order, shall be payable annually each year thereafter until all of said bonds are paid. Said bonds shall bear interest at the rate of five and one-half per cent C6t%) per annum, payable semi-annually, on the first days of April and October of each year. Both principal and interest of said bonds shall be payable in lawful money of the United States at the office of the City Treasurer of the City ot Seal Beach in said city. Section 2: That the executive of said City, to-wit, the Mayor or and President or the City Council and Board of Trustees of said city, and the Treasurer of said city, are hereby authorized and directed to sign all of said bonds and the City Clerk is hereby authorized and directed to countersign said bonds and to affix thereto the corporate seal of said city, and the Treasurer of said city is hereby authorized and directed to sign the interest coupons of said bonds by his printed, lithographed or engraved tacsimile signature, and to number said interest coupons of each of said bonds consecutively. Section 3: That all of said bonds shall be issued in accordance with the provisions of an Act or the Legislature of the State of California, entitled "An Act authorizing the incur- ring ot indebtedness by cities, towns and municipal corporations for municipal improvements, and re~lating the acquisition, con- struction or completion thereof", which became a law February 25, 1901, and acts amendatory thereof and supplementary thereto. Section 4: That said bonds and coupons for the interest thereof shall be issued in substantially,the following form: 2. ~ . I 1 1 Ordinance Number UNITED STATES 010' AMERICA, STATE OF' CALlFORNIA, CITY OF S~AL BEACH, (MUNICIPAL SEWER BOND, 1928) $1,000.00 No. Seal Beach, California, April I, 1928. The CITY OF SEAL BEACH, a municipal corporation, situated in the County of Drange, State ot California, FOR VALU~ RECE1VED, hereby acknowledges its indebtedness and promises to pay to the bearer hereot, at the office of the Treasurer of said city, in said city, the sum of ONE THOUSAND DOLLARS ($1,000). in lawful money ot the United States of America, on the rirst day of April, 19 , with interest thereon in like lawful money at the rate --- of ti ve and one-halr per cent (51%) per annum, payable semi-annually, on the first days of April and October of each and every year rrom the date hereof until this bond is paid, on presentation and surrender of the respective interest coupons hereto attached. v This bond is issued by the CITY OF SEAL BEACH under and in pursuance of and in contormity with the provisions or an act of the Legislature of the State ot California, entitled: "An Act authorizing the, incurring of indebted- ness by cities, towns and municipal corporations for municipal improvements, and regu~:ting the acquisition, construction or completion thereof", which became a law February 25, 1901, and acts amendatory thereof and supple- mentary thereto, and in pursuance of the laws and constitu- tion of the State of California, and is authorized by a vote of more than two-thirds or all the qualified voters of said ~ity of Seal Beach voting at an election duly and legally called, held and conducted in said City of Seal Beach, on the 12th day of March, 1928. . IT IS HEREBY CERTIFIED. RECITED AND DECLARED that all acts, cunditions and things required by law to exist, happen and be performed precedent to and in the issuance or this bond have existed, happened and been performed in due time, form and manner as required by law, and that the amount of this bond, together with all other indebted- ness of said city, does not exceed any debt limit prescribed by the laws or constitution of the State of California. 1/ IN WITNESS WHEREOF, said City of Seal Beach has caused this bond to be signed by the Mayor of and President of the City Council and Board ot Trustees of said city and by its Treasurer, and countersigned by the Clerk of said city, and sealed with the corporate seal of said city, and has caused the interest coupons hereto attached to be signed by its Treasurer. ~ ( Seal) Countersigned: Mayor or and President or the uity Council and Board or Trustees of the City of Seal Beach, California. Clerk or the City or Seal Beach, California. 3. ~reasurer 01 ~ne U1~y 01 ~ea~ ~eacn, California. e., I 1 I Ordinance Number (Coupon Form) No. $27. 50 On the first day of "' 19 , the City of Seal Beach, Oalifornia, W1LL pay ~o the~rer at the office of the City Treasurer of said city, in said city, the sum of Twen~y-seven and 50/100 Dollars ($27.50), in lawful money of the United States of America, being the semi-annual interest then due on Municipal Sewer Bond No. , dated April 1, 1928. J Treasurer or the C1ty or Seal BeaCh, California. Section 5: That the proceeds of the sale of said bonds shall forthwith be turned over and placed to the credit or a fund ot the City of Seal Beach, to be known as "1928 MUNICIPAL SEWER BOND FUND", and shall be used exclusively for and the acquisition,~construction ~[~~~~ of the munioipal improvement described in the recitals hereof. Seotion 6: That for the purpose of paying the prin- cipal and interest of said bonds, the CitY Council and Board of Trustees of the City of Seal Beach shall at the timecf fixing the general tax levy,- and in the manner for suoh general tax levy provided, levy and collect annually each year until said bonds are paid, or until there shall be a ~um in the treasury or said city set apart tor that purpose suffioient to meet all sums ooming due for the principal and interest on said bonds, a tax sufficient to pay the annual interest on said bonds, and also such part of the principal thereof as shall become due before the time for fixing the next general tax levy. Said tax shall be in addition to all other taxes levied for municipal purposes and shall be collected at the time and in the same manner as other municipal taxes are collected, and shall forthwith be turned over and paid into a fund of the City of Seal Beach, to be known as "1928 MUNICIPAL SEWER BOND INTEREST AND BOND RmBIPTION FUND". 4. .> I I I Ordinance Number said fund shall be used for no other purpose than the payment of said bonds and accruing interest thereor. Section ?: That the City Clerk shall certify to the passage and adoption of this ordinance by a vote of more than two-thirds 01' all the members of the City Council and Board of Trustees of said city at a regular meeting 01' said Council and Board, and its approval by the President 01' said Gounail and Board, ordinance to be published once in and once in the , newspapers the of general circulation pr.i~ted and ~ub+i~hed in said City of Seal Beach and shall cause copies of said ordinance to be posted at~~~~~r7/~~~ and ~<L-j(~~t_o publi. pl8Oo. in .aid city. Section 8: That this ordinance shall take effect thirty days after the ADOPTED, ~ ' 1928. final passage thereot. SIGNED AND APPROVED this /J"4 day of (Seal ) Mayor O~~~~ity Council and ~oard of Trustees of the City of Seal Beach, California Attest: ~4~ Clerk 0 t e ty 0 ea eaCh, California. 5. co .... I, I'." I ,- " . " _"J' Ordinance Number i " , , .. STATE OF CALIFORNIA COUNTY OF ORANGE CITY OF SEAL BEACH . . SS I, OLLIE B. PADRICK, City Clerk of' the City er Seal Beach, California, do hereby certify that the foregoing . ordinance was introduc~d at a regular~meeting of the, citi,:Council and Board of Trustees of' said Qity, duly ~rld ~n the"~)O?:t day of ~ ' 1928, and was th:re- '~her-at a ~egular meeting of' said C6unc1l"and the Jf~ day of ~ by said Council and Board and thereupe~ . < , Board duly held on . ~ ~ " passed and.~~opted , .1928" duly .. I 'duly signed 'and approved by the President of said CoUncil .... and Board, <S:,rid that said ordinance was adopted by the follow- ing vote: J AYes:~,wtd~,~ Noes: ~. Absent: ~ (Seal) ~~I/J~~ aoler o. sald 0 y. .. lft 6.