HomeMy WebLinkAboutCC Ord 43 1917-11-22
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ORDINANCE NO.U
AN ORDINANCE PROVIDING FOR THE ISSUANCE OF BONDS OF THE CITY OF
SEAL BEAOH, STATE OF CALIFORl~IA, IN THE AMOUNT OF FORTY-FI7E THOUSAND
($45,000) DOLLARS I FOR THE PURPOSE OF ACQUIRING,CON3TF.UCTING AND COll-
PLETUTG BY THE CITY OF SEAL BEACH OF A CERl'AIN MUNICIPAL IMPROVEMENT,
TO-WIT: A SEWER SYSTEM IN SAID CITY, INCLUDING ALL PIPES,rIPE LINES,
MA~NS, LATERALS, CONNECTIONS, A11'AOHMENTS,~ANHOLES,MACHINERY, SEPTIC
~ANKa, PROPERTY, APPARATUS, AND APPLIANCES NECESSARY OR CONVENIENT FOR
THE PURPOSE OF PROPERLY AND SANITARILY DISPOSING OF THE SEWAGE OF THE
CITY OF SEAL BEACH, IN ACCOROANCE WITH AllD AS AUTHORIZED AT A SPECIAL
ELECTION HELD IN SAID CITY OF SEAL ~EACH ON THE 12th DAY OF NOVEMBER,
1917.
WHEREAS, the Board of Trustees
California, at its regular meeting held
1917, by a vote of more than two-thirds
of the Oity of Seal Beach,
on th~ q.ay of dfLt.-,.
of all its members, duly passed
and adopted a Resolution, being Resolution NO.~ o~ said Oity Of,
Seal Beach, determining that the public interest and necessity of said
City of Seal Beach demands the acquisition, construction and,completion
by the City of Seal Beach of a certain municipal improvement, to-wit:
A Sewer system in said City, including all pipes, pipe lines,mains,
laterals, connactions.'attachments, manholes, machinery, septic tan~,
property, apparatus, and appliances necessary or convenient for the pur-
pose of properly and sanitarily disposing of the sewage of the City of
Seal Beach, and that the estimated cost of such improvement is the sum
of Forty-five Thousand ($45,OOO) Dollars, and determining that the cost
thereof is and will be too great to be paid out of the ordinary annual
income and revenue of said Oity; which said Resolution was thereafter
to-wit: On the"'.)./;;:! day of ~.:&;_'-/1917, published in the "Beal
Beach Post", a weekly newspaper, published and circulated in said Oity
~f Seal Beach, and
WHEREAS, the Board of Tr~~~ of said City of Seal Beach,
at its regular meeting held en the day of Qd-I!..,. 1917.
by a vote of more than two-thirds of all of its members, duly passed
and adopted an Ordinance, being Ordir~nce NO.~ of said Oity of Se~
BeaCh, ordering the submission of the proPosi~~~-:f inourrlng a bonded
debt, for the purpose set forth in said Resolction No.1? to the qua-
ified voters of said City at a special municipal election called to
be hel~ on the 12th day of November, 1917; which said Ordinance NO..~
.
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was ~hereafter, to-wit: on the l..t:::d and 1..!{!l days of O~
1917, duly published in the "Seal Beach Post", a weekly newspaper of
general circulation printed and published less than six days a week
in said Oity of Seal Beach, and
WHEREAS, said special municipal election was held in said
Oity of Seal Beach on the 12th day of November,1917, in accordance
wi th the prov-isions and requirements of sai,d Ordinance No.~
of said City, ordering, calling, providing for and giving no{ice of
such election, and as provided by law, for holding municipal elections
in said City, and
WHEREAS, the proposition of incurring the bonded debt herein-
before recited received more than tv{o-thirds of theVvotes of the quali-
fied electors of said City voting at such election, and
all
WHEREA3'Aand singular the provisions of an Act of the Legis-
lature of the State of California, entitled "An Act authorizing the
incurring of indebtedness by cities, towns, and municipal corporations
for muniCipal improvement~ and reg~ating the acquisition, construction,
,
or completion thereof, n which became a law Feo; a?tlfl-;l, and all , ,
Acts amendatory thereof and supplementary thereto, anf the General Laws
of the State of California, have been fully complied with so as to auth~
orize the issuance of said bonds; and
WHEREAS, the public interest and necessity demands that all
of said bonds be issued and sold at the earliest practicable date;
NOW TH~EFCRE, the Board of Trustees of the City of Seal Beach
do ordain as follows:
Section 1. That bonds of the City of Seal Beach,California,
in the sum of Forty-five Thousand (~5,OOO) Dollars, be issued in accop-
dance with the Act of the Legislature of the State of California, en-
titled, "An Act authorizing the incurring of indebtedness by cities,
towns, and municipal corporations for municipal improvements, and ragu
lating the a<<quisition, construction, or completion thereof," which
became a law Feb~th, 1901, and all Acts amendatory thereof and supp~
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ementary thereto, and the General Laws of the State of California, for
the purpose of the acquisition, construction and completion by the City
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Ordinance Number
of Seal Beach, of a certain municipal iuprovement, to-wit; A sewer Sy~tm
in said City, including all pipes, pipe lines, mains, laterals, connec-
tions, attacr~ents, manholes, machinery, septic tank~ property, appara-
tus, and appliances necessary or convenient for the purpose of properly
and sanitarily disposing of the sewage of the City of Ssal Beachithat
said bonds shall be designated and called n Sewer System Bond,Election
1917," and shall be sixty (60) in number, ana sr~ll be numbered fro~
One (1) to Sixty (60) both inc+usive, and shall be of the denomination
of One Thousand ($1000) Dollars each for tr~ odd numbered bonds and aak
shall be of of the denomination of Five Hundred ($500) Dollars each for
the even numbered bonds, and the principal and interest thereof sr~ll be
payable in lawful money o~th United states at the office of the Treas-
" said
urer of said City of Seal Be chi that bonds shall be dated January 2nd,
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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,1918, until the maturity there
ofi a~ that said bonds shall be payable in the following manner:
Bond No.1, for toOO.oo on January 2nd, 1919,
Bond No.2, for 500.00 on January 2nd, 1919,
Bond No.3, for 000.00 on January 2nd, 1920,
Bond No.4, for $500.00 ~n January 2nd,1920,
Bond No.5, for 1000.00 on January 2nd,1921,
Bond No.6, for 0.00 on January 2nd, 1921,
Bond No.7, for 1000.00 on January 2nd, 1922,
Bond No.8, for 500.00 on January 2nd, 1928,
Bond No.9, for 000.00 on January 2nd, 1923,
Bond No.10,for 500.00 on January 2nd, 1923,
Bond No.ll, for 11000.00 on January 2nd,1924,
Bond No.la, for 500.00 on January 2nd,1924,
Bond No.1S, for 11000.00 on' January 2nd, 1925,
Bond No.14, for 500.00 9n January 2nd,1925,.
Bond No.15, for 000.00, on January 2nd,1926i
Bond No.l6, for 500.00 on January 2nd, 1926,
Bond No.17, for 000.00 on January 2nd, 1927,
Bond No.18, for 500.00 on January 2nd, 1927,
Bond No .19, for 000.00 on January 2nd, 1928"
Bond No.20, for 500.00 on January 2nd, 1928,
Bond No. 21, for 000.00 on January 2nd, 1929,
Bond No.22, for 500.00 on January 2nd, 1929,
Bond 1io.23, for $1,000.00 on January 2nd, 1950,'
ji,ond No. 24, for $ 500.00 on January 2nel, 1950,
Bond NO. 25, for~OOO.OO on January 2nd, 1931,
Bond No. 26, for t500.00 on January 2nd,193l,
Bond No. 27, for 1000.00 on January 2nd,1932,
Bond No. 28, for 500.00 on January 2nd,1932,
Bond No.29, for 000.00 on January 2nd,1933,
Bond No.30, for i 500.00 on January 2nd, 1933,.
Bond No.31, for FOOO..oo on January 2nd, 1934,
Bond No.52, for 9 500.00 on January, 2nd,1934,
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Ordinance "Number
Bond No.33, for 11000.00 on January 2nd, 1935,
Bond No. 34,' for I 500.00 on January 2nd, 1935,
Bond No. 35,for 1000.00 on January 2nd, 1956,
Bond No. 36,for 600.00 on January 2nd, 1936,
Bond No.37, for 1000.00 on January 2nd, 1937,
Bond No. 38,for t 500.00 on January 2nd, 1957,
Bond No. 39, for $1000.00 on January 2nd,1938,
Bona No. 40, for $ 500.00 on January 2nd,1938,
Bond No.4l, for 1000.00 on January 2nd, 1939,
Bond No.42, for 500.00 on January 2nd, 1939,
Bond No.43, for 1000.00 on January 2nd, 1940,
Bond No.44, for" 500.00 on January 2nd, 1940,
Bond No.45, for 1000.00 on January 2nd, 1941,
Bond No.46, for E 500.00 on January 2nd, 1941;
Bond No.47, for 1000.00 on January 2nd,1942,'
Bond No.48, for, 500.00 on January 2nd,1942, .
Bond No.49, for 1000.00 on January 2nd, 1943"
Bond No.50, for 500.00 on January 2nd, 1943,.
Bond No.51, for 000.00 on January 2nd, 1944;
Bond No.52, for 500.00 on January 2nd, 1944,"
Bond No.53, for 1000.00 on January 2nd, 1945,'
Bond No.54, for 500.00 on January 2nd, 1945,'
Bond No.55, for 000.00 on January 2nd, 1946,'
Bond No.56, for 500.00 on January 2nd, 1946,
Bond No. 57,for 000.00 on January 2nd, 1947,'
Bond No.58, for k 500.00 on January 2nd, 1947;
Bond No.59, for '11000.00 on January 2nd, 1948,.
Bond No.60, for t 500.00 on January 2nd, 1948,
Section 2, Thateaid bonds shall be substantially in the following
form to-wi t:
No.
UNITED STATES OF AMERICA
STAT&: OF CALIFORIllA
CITY OF SEAL BEACH
.SEWER SYSTEM BOND, ELECTION 1917"
$
Seal Beach,Ca1ifornia, January a,l918,
On the 2nd day of January, 19_{year of maturity) the City of
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Seal Beach will pay to the bearer the sum of
_________Dollars,wtth
interest thereon at the rate of Five per centum per annum, payable
semi-annually, July 2nd and January 2nd, upon presentation and surrend..
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 Le~atuDe of the state of Californi~
entitled, "An Act authorizing the incurring of indebtedness by cities,
towns and municipal corporations for municipal improvements, and regul~
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Ordinance Number
ing the acquisition, construction or completion thereof", which became
a law February 25th,l90l, and of all Acts amendatory thereof and
supplementary thereto.
It is further certified, that all requirements of the consti-
tution 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 issuing of this Bond; that this issue of bonds has been authori-
zed by the vote of t~thirds of the duly qualified electors of said Ci1U
voting on the question of such issue at a special election duly and
regularly called and held in said City on November 12, 1917, and that 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 haSfbeen made for the collection of an
annual tax sufficient to pay the interest on such indebtedness as it fala
due, and also provision to constitute a sinking fund for the payment of
the principal thereof on or before maturity.
IN WIrNEad~EREOF. tibe said City of Seal Beach has caused
this bond to be signed by the executive of saidlmunicipality to-wit:
the President of the Board of Trustees of said City, and also by the
Treasurer of said City, and to be countersigned by the Clerk of said
~ty. 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 seal Beach.
President of the Board of Trustees of
the City of seal Beach,California.
.
City Treasurer of the City of Seal
Beach,California.
Countersigned:
City Clerx of the City of Seal Beach
California.
That coupons shall be attached to each of said Sixty (60) bonds for the
interest accruing thereon, and that said coupons shall be numbered con-
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conseoutively and shall be substantially in the following form to-wit:
$ _ (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,California,
the sum of
Dollars, in la~ful money of the United
states, being the semi-annual interest due on Sewer System Bond,
Election 1917, No.
(the Number of bond to which coupon is attached)
City Treasurer of the City of Seal
Beach,California.
S~ction 3. That Baid bonds shall be signed by the executive
of said City of Seal Beach, to-wit: the President of the Board of
Tr~tees of said City, and by the Treasurer of said City, and shall
be countersigned by the Clerk of said City, and said City Clerk is
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hereby auth?rized and directed to affix the corporate seal of'gaid City
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thereto and the Tra~surer of said City is hereby authorizsd to sign the
interest coupons of said Bonds, and said Bqnds shall be delivered by
said 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 Oity
Treasurer is hereby authorized and directed to sign all of the interest
coupons of said Bonds by hiA lithograph~ engraved signature.
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Section 4. That for the pur~ose of securing and ~roviding for
the payment of the principal and interest on said bonds, the Board of
Trustees 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
annually 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 suffic-
~~t to-pa~ the annual interest on said bonds,and also such part of tha
principal thereof as shall become due before the time for fixing the
tax
next generalAlevy ; that such taxes shall be in addition to all other
taxes levied for municipal purposes, and shall be colleoted at the time
and in the same manner as
used f
or no other purpose
other munioipal ,taxes are oolleoted, and be
than the payment of said bonds ~
and accruing
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kn~ as the" Sewer System Bond, Election 19l7,Fund", and shall be
,,-, ...,app~a.d :e~clusiVelY for the purpose mentioned in this Ordinanoe, towit:
~, ~ ~~for ~he purpose of the aoquisition, construction, and completion
?IbY):.he O~~Y of Seal Beach of a ce:rtain municipal improvement, t*Al...W1, t:
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,_ ~~et'~r.stem in said Oity, including all pipes,pipe lines, mains,
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",lat'rals,,'''Connections, attachments,manholes, machinery, septio tanks,
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J.p~Operty~apparatus, and appliances necessary or convenient for the pur-
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spose of ~operly and sanitarily disposing of the sewage of the City of
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,Seal BeaQh.
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interest; that as collected said taxes shall be forthwith paid into
the fund for which the/same were levied and collected; that such
fund shall be designated "SeweJ: System Bond, Election 1917,!lnterest
and Sinking Fund".
Section 5. That the prooeeds of the sale of said bonds shall
be placed in the Treasury of said City to the credit of a Fund to be
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section 6.
That the Oity Olerk,shall attest this Ordinance
and certify to its passage and adoption and shall cause the same to be
publish~d once in the "Seal Beach Post", a weekly newspaper of general
circulation, printed, published and oirculated in the City of Seal Beach
and that this Ordinance shall take effect immediately upon its passage
and adoption.
Passed and adopted by the Board of
Beach this 1.. '2. ~ day of November ,1917.
Trustees of the City of saal
Al'rEar:
Oi
~ (()rrd ,
e Board of Trustees of
Seal Beach,California,
01 eal Beach,
Ca ifornia.
State of Oalifornia, ~
County of Orange, sa,
City of Seal Beach,
I, Y.H.aNOW City Olerk of the City of Seal Beach, do hereby
certify that the foregoing Ordinance was introduced before the Board of
Trustees of said City at the regular meeting of said ~oard held on the
15th day of November,1917, that said Ordinance was duly passed and adop-
ted by said Board of Trustees at a regular adjourned meeting of said
Board held on 1he~"n~' day qf~ovember,1917,by the following vote towit:
AyeS,T~ustees~-,~u~~ _ ~
l,oes, Trustees ' (j, Absent/H~ W ~~
'.IN Wl'rN1i:33 WHgREOF I have hsreunt.aAlst my hand and affixed
the S~!1l o~ ths City of aeai Beach this 2.i}f!1' day vemb 1',1917.
\ "" ' Ci t~Clerk of the ITYof Seal each,