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Home My WebLink AboutCC Ord 42 1917-11-22 ~ / I I I ~> . , ORDINANCE NO. ~ ~ AN ORDINANCE PROVlDnm FOR THE ISSUANCE OF BONDS OF l'HE CITY OF SEAL BEACHj STATE OF CALIFORNIA. IN THE AMOUNT OF FORTY-FIVE THOUSAND ($45.000) DOLLARS. FOR THE PURPOSE OF ACQUIRING.1JJ01TSTROO?ti,lG AND ~~1!l'.l'J-mlG A CERTAIN REVENUE PROmCING MUNICIPAL IlIPRO'lEMENT. TO-WIT: WATER WORKS FOR SUPPLYING THE CITY AND nil INHABIl'ANTB , WITH WATER. INCLUDIllG THE AC~USITIOU OF LANDS.RIGHTS OF WAY. MACH INERt PIPES. APPARATUS. WELLS , PIPE LINES. MAINS. LATERALS. METERS AND ATTACHJiEIU'S. AND OTHER WORKS NECESSARY THEREFOR. IN ACCORDANCE WITH AND AS AUl'HORIZED AT A SPECIAL ELECl'ION HELD IN SAID CITY OF SEAL BEACH ON THE 12th DAY OF NOVEMBER.1917. WHEREAS. the Board of Trustees of the City of Seal Beach. California, at its regular meeting held on the 20 If day of ~~ 1917. by a vote of more than two-thirds of all its members. duly passed and adopted a Resolut~on. being Resolution No. Itf ~f said City of Seal Beach, determining that the public interest an~necess- ity of said City of Seal Beach demands the acquisition. construction and completion by the City of Seal Beach of a certain revenue producing municipal improvement. to-wit: Water Works for supplying the Oity and its inhabitants with water. including the acquisition of lands. rights-of-way, machinery, pipes. apparatus, wells, pipe lines. mains. la~erals. meters and attachments, and other works necessary therefor; and that the estimated costs of such public improvement will be the sum of Forty-five Thousand ($45.000) Dollars; and determining that the cost thereof is and will be too great to be paid out of the ordinary annual income and revenus of said City; which said Resolution was thereafter. to-wit: on t~e ~ day of ~~1917, duly pub- li~hed in the "Seal Beach Post", a weekly newspaper, published and circulated in said City of Seal Beach. and WHEREAS, the Board-of Trustees of said City of Seal Beach, at its regular meeting held on the L1.1?/. day of ().d~ 1917, by a vote of more than two-thirds of all of its members, duly passed I I I Ordinance Number and adopted an Ordinance, being Ordinance Ho. of Seal Beach, ordering the submission of the j q of said Oity I proposition of incurr- ing a bonded debt, for the purpose set forth in said Resolution No.f.i.. - to the qualified votsrs of said Oity at a special municipal election called to be held on the 12th day of November,1917; which said Ordi- nance NO.1t- wa.s thereafter, to-wit: on the/.).-J/ and 1..!f!f- days of .(f) ei:;L 1917, dUly published in the "aeal Beach Post n, a weekly newspaper of general circulation printed and published less than six <<ask days a week in said City of Seal Beach, and WHEREAS, said special municipal election was held in said Oity of Seal Beach on the 12th day of November, 19l7, in accordance with the provisiions and requirements of said Ordinance NO.~ of said City, ordering, calling, providing for and giving notice of such election, and as provided by l~~,~ for holding municipal elec- tions in said City; and WH~REAa, the proposition of incurring the bonded debt here- inbefore recited received more than two-thirds of the votes of the qualified electors of said Oity voting at such election; and WHEREAS, all and singular the provisions of an Act of the Legislature of the State of California, entitled"An Act authorizing the incurring of indebtedness by cities, towns, and municipal corpora- tions for municipal improvement~' and regulating the acquisition,con- ~,. -. struction, or completion thereof, n which became a law Feb~.25th,190~ 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 public interest and necessity demands that al~ of said bonds be issued and sold at the earliest practicable date; ,NOW,tHER~FORE,the Board of Trustees of the City of Seal Beach do ordain as follows: Section 1. That bonds of the City of Seal Beach,Oalifornia, in the sum of Forty-five thousand ($45,000) Dollars, be issued in accordance with the Act of the Legislature of the State of California, . -2- I I v I Ordinance Number entitled "An Act authorizing the incurring of indebtedness by cities, towns, and municipal corporations for municipal i~provement9, and regulating the acquisition, construction, or completion thereof," which became a law Feb~,1901, and all acts amendatory thereof and ^ supplementary thereto, and the General Laws of the State of Oaliforni~ for the purpose of the acquisit~on, construction and completion by the City'of Seal Beach of a certain revenue producing municipal im- provement, to-wit: Water Works for supplying the City and its inhabi- tants with water, including the acquisition of land~ rights-of-way. machinery, pipes. apparatus, wells. pipe lines. mains. laterals, meteD and attachments, and other works necessary therefor; that said bonds shall be, designated and called "Water Works Bond. Election 1917," and shall be a:mll1t)tx~(ik sixty (60) in number, and shall be numbered from One (1) to Sixty (60). both inclusivs, and shall be of the denom- ination of One ~,housand ($1000) Dollars each for the odd numbered bonds and shall be of the denomination of Five Hundred ($500) 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 office of the Treasurer of said Oity of Seal Bet~hjr~h~t'said bonds I' shall be dated January 2nd, 1918, and shall bear interest at the rate of Five (5%) per centum. per annum, payable semi-annually, on the 2nd day of July and the 2nd day of January of every year, beginning July 2nd,19l8,until the maturity thereof; and that said bonds shall be payable in the following manner: 81000 .00 on $500 . 00 on 1000.00 on 500.00 on 000.00 on 500.00 on 1000.00 on 500.00 on 000.00 on 500.00 on &lOOO.OOon 500.00 on 1000.00 on , 500.00 on 1000.00 on 500.00 on 1000.00 on t 500.00 on Bond No .1,. for Bond No.2, for Bond No.3, for Bond No.4, for Bond !io.5, for Bond No.6. for Bond lio. 7, for Bond !To.8, for Bond No.9, for Pond No .10, for Bond No.ll, for Bond No.12,for Bond !To.15. fpr Bond No.14,for Bond No.15, for Bond No.16.for Bond No.17,for Bond No.18, for January 2nd.1919. January 2nd.1919. January 2nd.1920, January 2nd,1920. January 2nd,1921. January 2nd .1921, January 2nd.1922. January 2nd.1922. January 2nd,1923, January 2nd,1923. January 2nd,1924. January 2nd,1924, January 2nd,1925, January 2nd,1925, January 2nd,1926. January 2nd,1926. January 2nd,1927, January 2nd.1927, -~- I I I Bond No.19, for Fond No.~O, for Bond No.21, for Bond No.22, for Bond No.23, for Bond No.34, for Bond No.25, for Fond No. 26,for Bond No. 27, for Bond No.28, for Bond No.29, for Bond No.3O, for Bond NO,31, for Bond No.32, for Bond No.33, for Bond No.34, for Bond No.56, for Bond No. 36, for Bond No.37, for Bond No. S8,for Bond No.59, for Bond No.4O, for Bond No.4l, for Bond No.42, for Bond No.43, for Bond No.44, for Bond No.45, for Bond No.46, for Bond No. 47,for Bond No.48, for Bond No. 49,for Bond 11'0.50, for Bond No.51, for Bond No.52, for Bond No.53. for Bond No.54, for Bond No.56, for Bond No.56, for Bond No.57, for Bond No.58, for Bond No.69, for Bond No.GO, for Ordinance Number 000.00 on January 2nd, 1928, 500.00 on January 2nd,1928, 1000.00 on January 2nd, 1929, 500.00 on January 2nd, 1929, 1000.00 on January 2nd, 1930, 500.00 on January 2nd, 1930, 1000.00 on January 2nd, 1931, 600.00 on January 2nd, 1931, 1000.00 on January 2nd, 1932, 500.00 on January 2nd, 1932, 1000.00 on January 2nd, 1933, 600.00 on January 2nd, 1933, 1000.00 on January 2nd, 1934, 500.00 on January 2nd, 1934, 1000.00 on January 2nd, 1935, 500.00 on January 2nd, 1936, 1000.00 on January 2nd, 1936, 600.00 on January 2nd, 1936, 1000.00 on January 2nd, 1937, 600.00 on January 2nd, 1937, 1000.00 on January 2nd, 1938, 600.00 on January 2nd, 1938, 000.00 on January 2nd, 1939, 500.00 om January 2nd, 1939, 1000.00 on January 2nd, 1940, 600.00 on January 2nd, 194A1l, 1000.00 on January 2nd, 1941, 500.00 on January 2nd, 194Z, 000.00 on January 2nd, 1941, 500.00 on January 2nd, 1941, 000.00 on January 2nd, 1941, 500.00 on January 2nd,1943~ 000.00 on January 2nd, 1944, 500.00 on January 2nd, 1944, 000.00 on January 2nd, 1945, 500.00 on January 2nd, 1945, 000.00 on January 2nd, 1946, 500.00 on January 2nd, 1946, 000.00 on January 2nd, 1947, 500.00 on January 2nd, 1947, 000.00 on January 2nd, 1918, 500.00 on January 2nd, 1948, Seotion 2. That said bonds shall be subtantially' in the follow1na form to-wit: No. . UNITED STATES OF AMERICA STATE OF CALI FORNIA. OITY OF SEAL PEACH ~$ "WATER WORKS BOND~~ECrION,1917. ... . , Seal Beaoh,Ca11fornia, January 2, 1918, ,On the 2nd day of January,19_, (year of maturity) the Oity' of S~al Beach will pay to the bearer the sum of IoJBr8 with interest thereon at the rate of Five per centum per annum, payable -4- I I I Ordinance Number , semi-annually, July 2nd and January 2nd, upon presentation and surrender , , of the interest coupons hereto attached; both principal and interest are payable in lawful money of the United states at the office of the City Treasurer of the City of Seal Beach in Seal Beach,California. This bond is issued in pursuance of and in full compliance with the provisions of the Act of the Legislature of the state of ~alifornia, entitled "An Act authorizing the incurring of indebtedness by cities, towns, and municipal corporations for munici~al improvements, and regu- lating the acquisition,construction, or completion thereof", which became a law February 25,1901, and of all Acts amendatory thereof and supplementary thereto. It is further certified, that all requirements of the constituti~ and laws of the State of California, and all Ordinances of said City of Seal Beach have been fully complied with by the proper officers in the ~ssUing of this Bond; that this issue of bonds has been authorized by tm vote of two-thirds of the duly qualified electors of said City voting on the question of such issue at a special election duly and regularly cal~ ed and held in said City on November 12,1917; and tr~t the total amount of this issue, together with all other indebtedness of said City, does not exceed the limit prescribed by the constitution and laws of the state of California; that before or at the time of incurring the debt evidenced hereby, provision has been made for the collection of an annual tax sufficient to pay the interest on such indebtedness as it fals due, and also provision to constitute a sinking fund for the payment of the principal thereof on or before maturity. \ IN WITNESS WHEREOF, the said City of Seal Beach has caused this bond to be signed by the executive of said municipality,to-wit: the President of the Board of Trustees of said City, and also by the Treas- urer of said City, and to be countersigned by the Clerk of said Oity, and has caused the corporate seal of said City to be hereto affixed, and the said City has also caused the said interest coupons hereto attached to be numbered consecutively and signed by the Treasurer of said City of Seel Beach. -5- Presidont of tne-Board of TrUB~ees of the City of ~eal Beach, California, ' I I I Ordinance Number City Treasurer o! the City of Seal Beach California. Countersigned: __ _______ _ City Clerk 01 tne City of Seal Beach, Oalifornia. That coupons shall be attached to each of said Sixty (60) bonds for the interest ~ thereon, and that said coupons shall be num- bered consecutively and shall be substantially in the following form, to-wi t: ~ .. ( the amount of interest on bond to which coupon is attached) On the 2nd day of ,(month of maturity) A.D. ,(year of maturity) the Oity of Seal Beach, California, promises to pay to bearer, at the office of the Treasurer of said City, in Seal Beach,Cal- ifornia, the Sunl of Dollars in lawful money of the ~______~_~___ I United States, being the semi-annual interest due on Water Works Bond, Election 1917, No. (the Number of bond to which coupon is attachea Ci ty TreasureF of-tlie City of Seal Beach, California, Section 3. That said bonds shall be signed by the execut1~.4Y said City of Seal Beach, to-wit; the President of the Eoard of Trustees of said Oity, and by the Treasurer of said City, and shall be counter- signed by the Clerk of said City, and said City Clerk is hereby author- ized 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 sa~d City Clerk to said City Treasurer in such amounts as the Board of Trustees of said City may from time to time determine; and such City Treasurer is hereby authorized and directed to sign all of the interest coupons of 1 . ~ said Bonds by his lithograph or engraved signature. A-. Section 4. That for the purpose of securing and providing for the payment of the principal and interest on said bonds, the Board of Trus- tees of said City shall, at the time of fixing the general tax levy, and in the manner for such general tax levy provided, levy and collect ~nnually each year until such bonds are paid, or until there be a sum in the treasury of said City set apart for that purpose to meet all sums coming due for principal and interest on said bonds, a tax sufficient -6- I I I Ordinance Number to iay the annual interest on said bonds, and also such part of the principal thereof ae shall become due before the time for fixing the next general tax levy; that such taxes 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 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 collected; tr~t such , fund shall be designated" Water Works Bond,Election 1917, Interest and Sinking Fund". Section 5. That the proceeds 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 1917, Fund," and shall be applied exclu~ive~y to the purpose mentioned in this Ordinance, to-wit: for the purpose of the acquisition, construction and completion by the City of Seal Beach of a certain revenue, producing municipal improvemen~ to-wit: Water Works for the supplying the City and its inhabitants with water, including the acquisition of land~ rights of way, machinery,pipe" apparatus, wells,pipe lines, mains, laterals, meters and attachments, and other works necess~ry therefor. Section 6. That the City Clerk shall attest this Ordinance and certify to its passage and adoption and shall cause the same to be pub- lished once in the "Seal Beach Post", a weekly newspaper of general circulation, printed, published and c~,culated in the City of Seal ~eac~ and that this Ordinance shall take if. effect immediately upon its passage ~nd adoption. Passed and adopted by the Board of Trustees of the City of Seal B~ach this ~~day of November,1917. ~ , ATTEST: ~'I\ of ~each,California. state of California, ~ County of Orange, Ss Oi ty' of Seal Beach, ""President 0 tIle Oi y Sea! -7- I .' . . . ~ Resolution Number I, M.H. SNOW, Oity Olerk of the Oity of Seal Beach, certify that the foregoing Ordinance was introduoed before regular Trustees of said Oity. at the~eeting of said Roard held on the 15th ~ay of November. 1917; that said Ordinance was duly passed and adopted by said Board of Trustees. at a regular adjourned meeting of said Board held on the 22nd day of November. 1917. by the following vote. to-wit: A,..; Trust... ~ ~d ~ Noes: Trustees _ _ ~_ Ab~ent..;"Trustees )Ju JI'~ -~.(' ~__== ~ .'. ~ IN WITNESS WHEREOF. I nave hereunto Bet my hand and affixed the Seal of.' the Ci ty of Seal Beach this "}.. 2 ~ day of November. 1917. I .... I I , .~. ~ ...; " y of Sea e.ac~\ Oaliforni ..... '" ",; " .. .. I I I' Ordinance Number Affidavit o~ Mailing. 1 State of California ~ ) ~ ss. 2 County of orange, 3 '4 City of Seal p,each. M H Snow being first duly sworn dep~ses and says: That I am the qualified and acting City Clerk of the City of Seal Fleach, Orange County, California that I have delivered to each person appointed by the Board of Trustees of the Oity of Seal F!each, to act as a member of the election board for the special election to held in the Seal Beach precinct, City of Seal p,each on Monday 'the 12th day of November, 1917, a notice notifying them of their appointment, the date o~ election,the polling place, the precinct in which he or sh~ is , 5 6 7 8 9 /. 10 11 12 13 14 15 16 to act. ~~^- City Clerk. '~ 17 Subscribed and ,rl ~ '-day of Bowrn to before me this 18 October, 19l7. ~Pu{f;;(BtnAJ~', 19 20 21 22 23 24 25 26 'Z1 28 29 80 31 32