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HomeMy WebLinkAboutCC Ord 78 1921-10-06 1 1 1 ~ \ '31$ , l-;:;;e;NAL O~, ;;: 'l'4~Opy NOT TO r~ TAl':'. . ,: )',\ Ti-IE CITY CLERK':; O.;F;Cc ~ 1 2 3 ORDINANOE NO. -00000-- AN ORDINANCE PROVIDING FOR THE ISSUANCE OF BONDS OF THE CI TY OF SEAL BEACH, STATE OF CALIFORNIA, IN THE Al.lOUNT OF FIFTY 5 THOUSAND ($50,000) DOLLARS, FOR THE PURPOSE OF ACQ.UIRING, CON- 6 STRUCTlNG AND COMPLETING A CERTAIN REVENUE PRODUCING JruNICIPAL 7 8 IUPROVEl4ENT, TO-WIT: WATm WORKS FOR SUPPLYING THE CITY AND 9 ITS INHABITANTS WITH WATER, INCLUDING THE ACQUISITION OF LANDS, 10 RIGHTS OF WAY, MACHINERY, PIPES, APPARATUS, WELLS, PIPE LINES, 11 MAINS, LATERALS, METERS AND ATTACHMENTS, AND OTHER WORKS NEC- 12 ESSARY THiREFOR, IN ACCORDANCE WITH AND AS AUTHORIZED AT A SPEa- 13 IAL ELEOTION HELD IN SAID CITY OF SEAL BEACH ON THE 14th DAY OF 14 JUNE, 1921. 15 WHEREAS, the Board of Trustees of the City of Seal Beach, l6 California, at its regular meeting held on the 17th day of March 17 1921, by a vote of more than two-thirds of all its members, duly 18 passed and adopted a Resolution, being Resolution No. 31 of 19 said City of Seal Beach, determining that the public interest 20 and necessity of said City of Seal Beach demands the acquisitio~ 2l construction and completion by the City of Seal B.ach of a oer- 22 tain revenue producing munioipal 1mprovement, to-wit: Water 23 Works for supplying the City and its inhabitants with water, in- 24 cluding the aoquisi tion of lands, rights of way, machinery, pipes 25 apparatus, wells, pipe lines, mains, laterals, meters and attach- 26 ments, and other works necessary therefor; and that the estimated 27 costs of such public improvement will be the sum of Fifty 28 Thousand ($50,000) Dollars; and determining that the oost thereof 29 is and will be too great to be paid out of the ordinary annual 30 income and revenue of said City; which said Resolution was there- 31 after, to-wit, on the 18th day of March, 19Z1, duly published ~; in the .Seal Beach Post," a weekly newspaper, published and cir- , , culated in said City of Seal Beach, and 4 -1- I , It I 1 17 18 19 20 21 22 23 24 25 26 I 27 28 29. 30 31 32 Ordinance Number 1 2 3 4 5 WHEREAS, the Board of 'rrustees of said Oity of Seal i; Beach, at its regular meeting held on the 5th day of llay, 1921, by a vote of more than two-thirds of all of its members, duly passed and adopted. an ordinance, being Ordinance No. 69 of said Oity of Seal Beach, ordering the submission of the proposition of incurring a bonded debt, for the purpose set forth in said Resolution No. 31 to the qualified voters of said City at a special municipal election called to be held on the 14th day of June, 1921, which said Ordinance No. 69 was thereafter, to- wit: on the 13th and 20th days of Uay, 1921, ,duly p9blished in the .Seal Beach Post,. a weekly newspaper of general circula- tion printed and published less than six days a week in said Oity of Seal Beaoh, and WHEREAS, said special munioipal election was held in said City of Seal Beach on the 14th day of June, 1921, in accordanoe with the proVisions and requirements of said Ordinanoe No. 69 of said Oity, ordering, oa1ling, providing for and giving I notice of suoh election, and as proVided by law for holding muni- cipal elections in said City; and WHEREAS, the proposition of incurring the bonded debt hereinbefore recited received more than two-thirds of the votes of the qualified eleotors of said City voting at such electionJ and WHEREAS, all and singular the proVisions of an Act of the Legislature of the State of California, entitled "An Act authoriBing the incurring, of indebtedness of cities, towns, and munioipal corporations for municipal improvements, and reg- ulating the acquisition, construotion, or completion thereof," which became a law February 25th, 1901, and all Acts amendatory thereof and supplementary thereto, and the General Laws of the State of California, have been fully complied with so as to authorize the issuance of said bonds and WHEREAS, the pUblio interest and necessity demands that all of said bonds be issued and sold at the earliest practioable dateJ , 6 7 8 9 10 11 12 13 14 15 16 -2- I 1 7 8 9 10 11 12 13 14 15 16 17 18 19 20 2l 22 23 24 1 25 26 27 28 29 30 31 32 Ordinance NUmber ~ 1 2 3 4 5 NOW. THEREFORE, the Board of Trustees of the Oi ty of Seal Beaoh do ordain as follows: Seotionl. That bonds of the City of Seal Beach, Califor- nia, in the 811m of Fifty Thousand ($50,000) DOllars, be issued in aocordance with the Act of the Legislature of the State of California, entitled DAn Act authorizing the incurring of in- debtedness by cities, towns, and munioipal corporations for munioipal improvements, and re~lating the acquisition, oon- struction, or oompletion thereof, D which became a law February 25th, 1901, and all aots amendatory thereof and supplementary thereto, and the !Jeneral Laws of the state of California, for the purpose of the acquisition, oonstruction and oompletion by the City of Seal Beach of a oertain revenue prodUcing municipal improvement, to-wit: Water Works for 811Pplying the Oity and i 111 inhabitants with water, including the acquisition of lands, riglt of way, machinery, pipes, apparatus, wells, pipe lines, mains, laterals, meters and attaohments, and other works necessary therefor; that said bonds shall be designated and called IWater Works Bond, Election 19211, and shall be ei~hty (80) in mmber, and shall be numbered from One' (1) to Eighty (80), both inolus- i ve, and shall be of the denomination of One Thousand (11000.00) Dollars each for the odd numbered bonds, and shall be of the denomination of Two Hundred Fifty ($250.~0) Dollars each for the even numbered bonds, and the principal and interest thereof shall be payable in lawful money of the United States at the offioe of the Treasurer of said City of 8eal Beach, California; that said bonds shall be dated January 2nd, 1922, and shall bear interest at the rate of Six (6%) per oentum, per anmm, payalbe semi- annually on the 2nd day of July and the 2nd day of Jamary of every year, beginning July 2nd, 1921, until the maturity thereof; and that said bonds shall be payable in the following manner: Bond No.1, for $1000.00 on January 2nd, 1922 Bond No.2, for $ 250.00 on January 2nd, 1922, 41 'j 6 -3- ~I ~i Ordinance Nnmber ~ Bond No. 3, for 1000.00 on January 2nd, 1923, Bond No. 4, for 250.00 on January 2nd, 1923, 1 Bond No. 6, for 1000.00 on January 2nd, 1924, Bond No. 6, for 250.00 on January 2nd, 1924, 2 Bond No. 7, for 1000.00 on January 2nd, 1925, I Bond No. 8, for 250 .00 on January 2nd, 1925, 3 Bond No. 9, for 000 .00 on January 2nd, 1926, Bond No. 10, fGlr 250.00 on January 2nd, 1926, 4 Bond No. 11, for 1000.0~ on January 2nd, 1927, Bond No. 12, for 250.00 on January 2nd, 1927, 5 Bond No. 13, for 1000.00 on January 2nd, 1928, Bond No. 14, for 250.00 on January 2nd, 1928, 6 Bond No. 16, for 1000.00 on January 2nd, 1929, Bond No. 16, for 250.00 on January 2nd, 1929, 7 Bond No. 17, for 1000.00 on January 2nd, 1930, Bond No. 18, for 250.00 on January 2nd, 1930, 8 Bond No. 19, for 1000.00 on January 2nd, 1931, Bond No. 20, for 250.00 on January 2nd, 1931, 9 Bond No. 21, for 1000.00 on January 2nd, 1932, Bond No. 22, for 250.00 on January 2nd, 1932, 10 Bond No. 23, for 1000.00 on January 2nd, 1933, Bond No. 24, for 250.00 On January 2nd, 1933, 11 Bond No. 25, for 1000.00 on January 2nd, 1934, Bond No. 26, for 250.00 on January 2nd, 193&, 12 Bond No. 27, for 1000.00 on January 2nd, 1935, Bond No. 28, for 250.00 on January 2nd, 1935, 13 Bond No. 29, for 1000.00 on January 2nd, 1936, Bond No. 30, for 250.00 on January 2nd, 1936, 14 Bond No. 31, for 1000.00 on January 2nd, 1937, Bond Nlil. 32, for 260.00 on January 2nd, 1937, I 15 Bond No. 33, for 1000.00 on January 2nd, 1938, Bond No. 34, for 260.00 on January 2nd, 1938, 16 Bond No. 36, for 1000.00 on January 2nd, 1939, Bond No. 36, for 250.00 on January 2nd, 1939, 17 Bond No. 37, for 000.00 on January 2nd, 1940, Bond No. 3S, for 250.00 on January 2nd, 1940, 18 Bond Nlil. 39, for 1000.00 on January 2nd, 1941, 19 Bond No. 40, for 250.00 on January 2nd, 1941, Bond No. 41, for 1000.00 on January 2nd, 1942, 20 Bond No. 42, for 250.00 on January 2nd, 1942, Bond No. 43, for 000.00 on January 2nd, 1943, 21 Bond No. 44, for 250.00 on January 2nd, 1943, Bond No. 45, for 1000.00 on January 2nd, 1944, 22 Bond No. 46, for 250.00 On January 2nd, 1944, Bond No. 47, for 1000.00 on January 2nd, 1945, 23 Bond No. 48, for 250.00 on January 2nd, 1946, Bond No. 49, for 1000.00 on January 2nd, 1946, 24 Bond No. 50, for 250.00 on January 2nd, 1946, Bond No. 51, for 1000.00 on January 2nd, 1947, 25 Bond No. 52, for 250.00 on January 2nd, 1947, Bond No. 53, for 1000.00 on January 2nd, 1948, 26 Bond No. 54, for 250.00 On January 2nd, 1948, Bond No. 66, for 1000 .00 on January 2nd, 1949, 27 Bond No. 66, for 250.00 On January 2nd, 1949, Bond No. 67, for 1000.00 on January 2nd, 1950, 1 28 Bond No. 6S, for 250.00 on January 2nd, 1950, Bond No. 69, for 1000.00 on January 2nd, 19511!, 29 Bond No. 60, for 250.00 on January 2nd, 1951, Bond No. 61, for 1000.00 on January 2nd, 1952, 30 Bond No. 62, for 250.00 on January 2nd, 1952, Bond No. 63, for 1000.00 on January 2nd, 1953, 31 Bqnd No. 64 for 250 .00 on January 2nd, 1953, , , Bond No. 65, for 000.00 on January 2nd, 1954, 32 Bond No. 66, for 250.00 on January 2nd, 1954, Bond No. 67, for 1000.00 on January 2nd, 1956, Bond No. 68, for 250 .00 on January 2nd, 1955, ~ -4- I - I 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 1 25 26 27 28 29 30 31 32 Ordinance Number ~ I 2 3 Bond No. 69, for 000.00 on January 2nd, 1956, Bond No. 70, for 250.00 1m January 2nd, 1956, Bond No. 71, for 1000.00 on January 2nd, 1957, Bond No. 72, for 250.00 on January 2nd, 1967, Bond No. 73, for 1000.00 on January 2nd, 1958, Bond No. 74, for 250.00 on January 2nd, 1958, Bond No. 75, for 1000.00 on January 2nd, 1959, Bond No. 76, for 250.00 on January 2nd, 1959, Bond No. 77, for 1000.00 on January 2nd, 1960, Bond No. 78, for 250.00 on January 2nd, 1960, Bond No. 79, for 1000.00 on January 2nd, 1961, Bond No. BO, for 250.00 on January 2nd, 1961. Section 2. 'rhat said bonds shall be substantially in 4 5 6 the following form, to-wit: No. UNIT ED S'rA'rES OF AlIERICA STATE OF CALIFORNIA CITY OF SEAL BEACH "WATER WORKS BOND,ELEC'rION, 1921." $ Seal Beach, Oalifornia, January 2nd, 1922. On the 2nd day of January, 19_, (year of Maturity) the City of Seal Beach will pay to the bearer the swn of Dollars with interest thereon at the rate of Six per centum per annum, payable semi-annually, July 2nd and January 2nd, upon presentation and surrender of t he interest coupons hereto attached; both prjncipal and interest are pay- able in lawful DlCmey of the United States at tho office of the Oity Treasurer of the City of Seal Beach in Seal Beach, California. 'rhis bond is issued in punuance of and in full com- pliance with the provisions of the Act of the Legislature of the State of California, entitled "An Act authorizing the in- curring of indebtedness by cities, towns and municipal corpora- tions for municipal improvements and regulating the acquisition construction, or completion ther flJf," which became a law Feb- ruary 25, 1901, and of all Acts amendatory thereof and supplem- entary thereto. -5- I 1 , . ,2 " 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 2l 22 23 24 25 26 27 28 29 30 31 32 1 I Ord<nance Number ~ It is further certified, that all r~irements of the constitution, and laws of the State of California, and all Ordinances of said City of Seal Beach have been flllly compl1ed with by the proper officers in the issuing of this .Bond; that this issue of bonds has been authorized by the vote of two- thirds of the duly qualified eloctors of said City voting on the question of suoh issue at a special eleotion duly and regularly called and held in said City on June 14, 1921; and that the total amount of this issue, together with all other indebtedness of said City, does not exceed the limit prescribed by the con- stitution and laws of the State of California; that before or at the time of incurring the debt sVidenced hereby, proVision has been made for the collection of an ammal tax Sl1fficient to pay the interest on such indebtedness as it falls due, and also provision to oonsti tute a sinking fund for the payment of the principal thereof on or before maturity. IN WUNESa WHEREOF, the said Oity of Seal Beach has oaused tbis bond to be signed by the executive of said munici- pality, to-wit: the President of the Board of l'rustees of said City, and to be oountersigned by the Clerk of said City and has caused the corporate seal of said City to be hereto affixed, and the said City has also caus4ld the said interest coupons hereto attached to be numbered consecutively and signed by the .asurer of said Oity of Seal Beach. President of the Board of Trustees Of tllil City of Seal Beach, California. Oity rreasurer of the City of Seal Beac~ California. Oountersigned: m. ty Olerk of the City of Seal Beach Oalifornia. !hat ooupons shall be attached to each of said Eighty -6- 1 1 1 , ' 9 10 11 12 13 14 15 17 18 19 20 21 22 23 24 '25 26 27 Ordin..,. Numb.r.~ (80) bonds for the interest accxuing thereon, and that said 1 ooupons shall be numbered consecutively and shall be substantial- 2 ly in the following form, to-wit: :5 .. (the amount of interest on bonds to 4 which coupon is attached). Ck1 the 2nd day of 5 (month of maturity) A.D. (year of maturity) the City of 6 Seal Beach, California, promises to pay to bearer, at the office of the Treasurer of said City, in Senl Beach, California, the sum of DOllars, in lawful money of the United States, be:lng the semi-annual interest due on Water Works Bond, Election, 1921, No. (the Number of bond to which coupon is attached). 7 8 16 City Treasurer of the City of Seal Beach, California. Section 3. That said bonds shall be signed by the ex- ecutive of said City of Seal Beach, to-wit: The President'of the Board of Txustees of said City and by the Treasurer of said City, and shall be countersigned by the Clerk of sdd City, and said City Clerk is hereby authorized and directed to affix the corporate seal of said City thereto, and the Treasurer of said City is hereby authorized to sign the interest coupons of said Bonds, and said Bonds shall be delivered by said City Olerk to said City Treasurer in such amounts as the Board of Txustees of said City may from time to time determine; and such City Treas- urer is hereby authorized and directed to sign all of the inter- Qst coupons of said Bonds by his lithographed or engraved sig- nature. 28 Section 4. That for the purpose of securing and pro- 29 viding for the payment of the principal and in 1le1'8 st on said 30 bonds, the Board of Txustees of said City shall, at the time of 31 fixing the general tax levy, and in the maJU18 r for such general 32 tax levy provided, levy and collect annually each year until sudb bonds are paid, or until there be a sum in the treasury of said -7- I I I ~ Oity set apart for that purpose to meet all sums coming due for principal and interest on said bonds, a tax su-fficient 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 J that such taxes shall be in addition to all other taxes levied for municipal purposes, and shall be collected, and be used for no other purpose than the payment of said bonds and accruing interest; that as collected said taxes shall be forthwith paid into the fund for which the same were levied and collectedJ that such fund shall be designated "Water Works Bond, Election 1921, Inters st and Sinking Fund.. Section 5. That the proceecis of the sale of said bonds shall be placed in the Treasury of said City to the credit of a fund to be known as the .Water Works Bond, Election 1921 Fund, n and shall be applied exclusively to the purpose mentioned in this Ordinance, to-wit: for the purpose of the acquisition, constructimn and completion by the City of Seal Beach of a cer~ reveIlUe producing municipal improvell'.ent, to-wit: Water Works for the supplying the City and its inhabitants with water, includ- ing the acquisition of lands, rights of way, machinery, pipes, apparatus, wells, pipe lines, mains, laterals, meters and at tacbments , and other works %l8 cessary therefor. Section 6. That the Oity Clerk shall attest thia Ordinance and certify to its passage and adoption and shall cause the same to be published once in the .seal Beach Post,. a weekly newspaper of general circulation, printed, published and circulated in the City of Seal Beach, and U.at this Ordinance shall take effect immediately upon its passage and adoption. Passed and adopted by the Board of Trustees of the Oity of Seal Beach, this day of November, 1921. , . 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 (Seal of City of Seal Beach) Ordin..o_ Numb_r ~ -PreSident of the Board of Trustees of the City of Seal Beach, cal1forn:\. a -8- . , I I 19 20 21 22 23 24 25 26 27 I 28 29 30 31 32 \ \ Ordinance Number . ' , \ I 2 3 4 5 Attest: /3iB/~ City dlerk of the Oity of Seal Beach, California. 6 7 8 9 10 11 12 STATE OF CALIFORNIA, County of Orange, City of Seal Beach. ss. ) . 5 13 I, B. B. Brown, Oity Clerk of the Oity of Seal Beach, do hereby certify that the foregoing Ordinance was intrOduced before the Board of Trustees of Ii~City, atdh~,!egular meet- ing of said Board, held on the h-' day of NcW~er, 1921; that said Ordinance was duly passed and adopted by said Board of Trustees at a regular adjourned meeting of said Board, held 14 15 on the 16 17 Brd. day of November, 1921, by the following vote,to-w:j.t: Ayes, Truste.~~~~ ~~,J$..,., '\ Noes, Trustees~~ {~~ Absent, ~stees /Yl-~ IN WI'l'NESEl WHEREOF, I have hereunto set my hand-and af- fixed the seal of the City of Seal Beach this 1Sfd. day of Novem- 18 er, 1921. ..J6n /frr~_____ Oity Clerk of the City of Seal Beach, California. (Seal of Oi ty of Seal Beach(.