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HomeMy WebLinkAboutCC Res 242 1935-04-18 t, ,/ I I I ...".... ~r~...~ ~ RESOLUTION NO. 242 .II. RESOLUTION OF THE CITY OF SEAL BElUlH, CALIFORNIA, PROVIDING FOR THE ISSUANlE OF BONDS OF SAID CITY FOR THE PURPOSE OF I~URRING BONDED INDEBTEDNlmS BY SAID CITY FOR THE ~QUISI'l'ION,C:ONSTRUCTION AND COMPLETION BY S.Il.ID CITY OF CERTAIB MUNIC IP.Il.L IMPROVlDltENTS; TOWIT: THE AOQUISITION,CONSTRUOTION AND OOMPLETION OF A SEW- AGE TREa.TMENT PLANT;ALSO FOR THE PURPOSE OF THE aO- QUISITION,OONSTRUOTION AND C:OJIPLErION OF A BREAKWATER; AND,ALSO FOR THE PURPOSE OF THE AOQOISITION,OONSTROCTION AND COMPLETION OF A WATER WORJiS SYSTElrA. wll.lllUSAS, pursuant to Ordinanoe No.le9 of the City of Seal Beaoh; California, a speoial eleotion was duly snd regularly held in said oity on the 29th day of Maroh,1935,at which election there were sub- mitted to the qualified voters ot said city the following proposl~ions, towlt: PROPOSITION I: Shall the OUt _ of Seal Beaoh inour a bonded indebted- nesa in the princIpal amount ot 140,000.00 for the aoquisltlon,oon- stru.otlon and completion by the c1ty of Seal Beach it a oertain muniol- pel improvement;towlt: The aoquisltlon,construction and completion ot ma1n and supplementary sewers 01' instrumentalities of san1tat10n,to- gether with the neoessary outlets,manholes,oatch baslna,flush tanks, disposal plants,pumping plants,conneoting sewers dito~es,drains,con- dults,tunnels,ohannels 01' other appurtenances,an&' the acquisition and installatIon ot maohinery and equipment necessary therefor;and includ- ing the ~~~uls~~_~on ~f l_an~'l, _ _ __ __ __ _ _~ _ _ ___ _ __ _ __ PROPOSITION II: Shall the Oity ot Seal Be"cJ.:1. inour a bonded indebted- ness in the principal amount of i62,000.00 tor the aoqu1s1tion,con- struotion and completion by the City of Seal Beach of. a oertain munioi- pal improvement;towit: The aoquisition,construotion and completion of breakwaters,levess,bulkheads and walls ot rook 01' other material to proteot the str~ets,avenues,lanes,alleys,courts,plaoes,public ways and other property in such olty,trom overflow by water,incl.ding the ao- qu1s1tlon ot land,reolamation of submerged lands,right-of-way,machinery, apparatus and other property necessa1'1 t~eref9rl . PROPOSITION III: Shall the 01ty of Seal Beach Inour a bonded indebted- ness in the ppinolpal amount ot ~30,000.00 for the aoquisition,con- struction and oompletion by the 01ty ot Seal Beach of a oertain munici- pel improvement;towit: The acquisitlon,oonstruotlon and completion of a water works system includIng wells,pumps,dems,rese:rv01rs,storage.tanks, Channels,tunnels,conduits,plpes,bydrants,meters 01' other appurtenances necessa1'1 therefor,fand~dp9lpd1~ the acqUisition of land theretor,for supp1Jlng 01' d1atri'buting a domestio water sup)ly and for tire pro- tectlon'i' , and WHEREaS, eaoh of said propositions reoeived the affIrmative vote and assent of more than two-th11"da of all the qualified voters of said city voting at said eleotion and the saId oity is now wuthorized to issue bonds in the amounts a nd for the purposes hereinbefore specified. NOW,THEREFORE, the Oity Council of the Oity of Seal Beach doea resolve as follows: 1. ,t I I I .. , Resolution Number SeotioD 1: i'bat bonds of' the City of' Seal Beaoh in the amount of FoI't7 Thousand Dollars(t40,OOO.00),be issued and sold f'o1':,.the purposes stated In Proposition I.,set forth In the reoitals hereof. Said bonds shall be designatedllSewage Treatment Benda of 1935;' . Said bonds shall be torty(40)in number, numbered from onell)to forty(40), 1nolua1ve,and shall be of the denomination of One Thousand Dollars (fl,OOO.OO)eaoh;al1 of' said bonds shall be dated Deoember 1,1934. Said bonds s~ll IIIBture 1D oODseoutiV'e DUmerioa1 order, as tOllows, namely: On Deoember t1rst in years and amounts: as follows: 1935 to 1954, both IncluBive,t2,000.OO. Seot1on 2: That bonda of the City of Seal Beaoh in the amount of Sixty-two Thousand Dollars(f62,000.OO),be issued and sold for the purposes stated In the Proposition II.,set forth In the reoltals hereof. Said bonds shall be designated ,lBreakwater Bonds of 1935" .Sa1d blinds shall be s1xty-two(62)1n number,numbered from onellJto sixty-two(62J, inclusive,and ahall be of the deDb1nation of One Thousand Dollars (91,000.OO)eaOh;al1 of said bonds shall be dated &~roh 1,1935. Said ~------ _. .---- - -~ ~- - - bonds shall IIIBture in conseout1ve numerioal order,as fOllows,namely: on JUroh first in the years and amounts as follows: 1936 to 1953,both 1nolusive,.;3,OOO.OO; 1954 to 1955,both 1no1usive'i'4,000..OO. Seotion 3: bt bonds of the,C1ty of Seal Beaoh in the amount of Thirty Thousand ;oollarS\930,OOO.OO),be issued and sold tor the pur- , . pose! stated in the ProposItion III.,set forth in the recitals hereot. Said bonds shall be designated "water Works System Bonds of 1935,1. SaId bonds shall be ot the denomination ot One Thousand Dollarsl91,000.OOJ esoh;all of' said bonds shall be dated AprU lst,1935. Said aonds shall IIIBture in oonsecut1ve numer10al order as follows,namely: On April first in the years and amounts as f'01lows:1936 to 1945,both 1nolus1ve, 91,000.00,1946 to 1955,both inclusive,t2,OOO.OO. Section 4: All of the bonds provided for herein shall bear inter- est at the rate of four per oent(4%Jper annum,from date until paid, payable semI-annually. Both prIncipal and interest of said bonds shall be payable in lawfUl mon87 of' the United States of arner1caiat the offloe of the City Treasurer of the City of Seal Beaoh in said o1ty. Seot1on 5, That the execut1ves of' said o1ty,towit: the Mayor of It. ~ I I I " . Resolution Number aaid c1ty, and the Treasurer of said cIty, are hereby authorized and directed to sign all of aaid bon~ and the City Clerk is hereby author- ized end directed to countersign said bonds and to affix thereto the corporate seal of said oity, and the treasurer of said city ia ~ereby authorized and direoted to sign the interest ooupons of s aid bonds by his prInted, lithographed or engraved facsimile signature,and to number sai~ interest ooupons of each of said bonds conseoutively. Section 6: That all of said bonds shall be issued in aooordance with the provisIons of an act of the Legislature of the State of Cali- fornia,emtitled ,: An Act authorizing the incurring of ind.ebtetlness by cities, towns and munioipal corporationa for mun~clpal improvementa, and regalating the acquisition,construct10n or oompletion thereofi"whioh became a law Februa17 25,190l,and acts amendatJo17 thereof and supple- menta17 thereto. Seotion 7: That all of said bonds and coupons for the interest thereof shall be isaued in substantially the followIng form: FOlU4 OF BOND --- UNITED STATES OF AMERICA STATE OF CALIFORNIA 'COUNTY OF ORll.NGE CITY OF SEaL BElLCH, No. " lDesignationJ Bond The City of Seal Beach,California,a municipa~ corporation of the State of Ca1ifornia,hereby acknowledges itself indebted and for value received promises to pay to the beRrer(or,if this bond be registered, to the regIstered owner thereof),on the day of ,19 , the sum of DOLLARS, iiiicrto pay intereat hereon - at the rate or 1"our per oentl416)per annum, payable on and in each year until matur1ty,upon surrender of the annexed ooupoma as they severally beoome /lue( or,if this bond be regis- tered as to both principal and interestito the registered owner hereof). Both principal and interest of this bond are payable in lawfUl money of the United States of America at the offIce of the City Treasurer in the City of Seal Beach,Orange County,california. For the punctual payment of this bond, with interest hereon as aforesaid, and for the levy and col- leotion of taxes sufficient for that purpose, the full faith and oredit of said City of Seal Beaoh are hereby irrevooably pledged. Thia bond may be registered as to both prinoipal and interest in accordanoe with the provIsions on the baok hereof. This bond is 1ssued by the City of Seal Beach for the purpose of and by vlrtue of a two-thirds vote of the qua~ifled votera of sald Clty of Seal Beaoh voting at an e1eotion /luly oalled and held on the 29th day of' urch,1935,and pursuant to the Constitution and Statutes of' the State of California,ino1uding an Actof the Legislature of the State of' Oa1ifarn1a ent1tled"an AOt 3. t I I I " . Resolution Number authoriz1ng the inourring of 1ndebtedness by clt1es,towns and municipal corporations for municipal improvements and regulating the acquisition, oonstruotion or completion thereof,"whioh beoame a law February 25,1901; and aots amendatory thereof and supplementary thereto. It is hereby certified a nd reoited that all the conditions ,aots and things requ1red bJ the Constitution and Statutes of the State of Gali- fornis to exist,to have happened and to have been performed;precedent to and in the issuanoe of this bond exist,have happened,and have been performed,and that the issue of bonds of whioh this Is one,together with all other indebtedness of said City of Seal Beaoh,is within every debt and other limit presor1bed by the Constitution and Laws of said State. IN WITNFBS WHEREOF, the City of Seal Beaoh has oaused this bond to be signed b1 the Jil8yor and Treasurer of the City of Seal Beaoh,to be counte! sigildd by the CIty Clerk of the City of Seal Beaoh,and to be sealed by its corporate seal,and the ooupona he..to annexed to be signed by the faosimlle signature of ita Treasurer,and this bond to be dated the day of ,19 . ' - - ( SEA L ) , mayor or line 01li7 or Seal Beach, Oalifornia . Countersigned: 01liy OlerK of lihe C1ty or Seal Beaoh,Oaliforniaa Treasurer or the C1liy of Seal Beaoh, Oalifarn1s . (FORl4 OF COUPON) -- No. ;; The 0Ity of Seal Beaoh,californ1s;a munIoIpal corporation of the State of Oalifornia,wlll pay to the bearer on the day of 19 ,the sum of DOLLARS In lawful mon87 or the UnIted States of Amer10a~at the orr1ce of the City Treasurer of the City of Seal Beaoh,Orange County,Oaliforn1a,being months' interest then due on itslDesignation)Bond of 1935,dated - ,19 ,and .I:learing No. '. - , Treasurer or the C1liy or S8al Beaoh, ca lifornia . (~ 2E REnISTR.II.TION INDORSEIII&IIr) ThIs bond 1s regIstered pursuant to the statute in such oasea made and p;'vided in the name of and jhe I~terest and prIn- ~pal thereof are hereafter payable lio suoh owner. 'l'reasurer or the 01liy or Seal Heaoh, CalifornIa. Seotion 6t That said bonda shall be sold by the CIty Council of said oity as it may hereafter determine and the pro.eeds of the sale 01 sa1d l'4Unio1pal Improvement Bonds shall forthwith be turnedoover and plaoed to the oredit of a tI1nd or funds of the 01ty of Seal Beaoh, to be knoWD;respeotively as : "Sewsge Treatment Bond Fund of 1935"and "Breakwater Bond Fund of 1935" and "Water Works System Bond Fund of1935", 4. '" ~." Resolution Number t I and shall be used exclusively for the acquislticn,ccnstI'Uction and completion of the municipal improvements,respectively,descr1bed in the Propositions set torth in the recitals hereof. Section 9: That tor the purpose ot payi1'lg the principal on and interest ot each of said issues of bonds, the City Council of the City of Seal Beach shall, at the time of f1xi1'lg the general tax levy and in the manner tar such general tax levy provided, levy and collect snnually eaoh year, until such issue ot bonds is paid or until there shall be in the Treasu~ of saId city set apart for that purpose a sum sufficient to meet all sums ooming due for principal and interest ot such issue of bonds, a tax sufficient to pay the annual interest thereon and also suoh part of the principal thereof as shall become due betore the time for f1xi1'lg the next general tax levy. Said tax shall be 1n addition to all other taxes levied for munioipal purposes and shall be colleoted and forthwith be turned over and pa1d into a fund of the City of Seal Beach which shall be used for no other purpose than the payment of the prinoipal of and interest on such issues of bonds. The name of the said I I - -- fund established for the payment of the issue of Sewage Treatment Bonds of 1935 shall be 'Sewage Treatment Bonds Interest and Redemption FUnd.' the . The name of/said fund established for the payment of the issue of Breakwater Bonds of 1935 shall be 'Breakwater Bonds Interest and Re- demption FUnd.' The name of the saId fund established tor the payment , of the issue of Wate1'Vlorks System Bonds of 1935 shall be I Waterworks System Bonds Interest and Redemption Fund'. Seotion 10: That the City Clerk shall oertify to the passage and adoption of this resolutIon 'by a vote of at least two-thirds of all the members ot the City Council ot said City of Seal Beach at a regular meeti1'lg of said Council and its approval 'by the mayor of said City. ADOPTED, SIGNED AND a.fI'ROV~ this 15th dsy ot AprU; 1935. ~ -. .,.,~.\ ~.... ~ ~-. .... ...-- "' ~ --....~"'A \)2.';'10"::-'-:~~:'-. ~ ~ . "O~ 't:' ~t?' ..........~ .... "^' >:...... 'S " ..:I'! ._ ~~ , ,... "": (SE.A::::-Ld e. ' -''-:' ~\ 9- ';;;:':~ ~~!." ,jI,ttes~I....,",?, ~.~" '" t:;;...-..,:S'.... ~~ \...., . -;l'::",.,~'.- ~ ""...,,- - - '.., er 0 M8YO~eaCh; Cal1torn1a. 5. . _, of Resolution Number I STATE OF CALIFORNIA) COUNTY OF ORANGE ) SSe OI~ OF SEAL BEAOH ) I, Ollie B.Padriok, Olerk of the City ot Seal Beaoh,CalltGrn1a, do hereby oertify that the toregolng resolution was &11'1 passed and adopted at a regular meeting ot the Oity Oounoil ot said o1ty, &11y held on the 18th day ot April,1935,and thereupon &11'1 signed and approved by the l4lIyor o.t said oity, and that said resolution was adopted by the tollowing vote: AYES: Councilmen Tim Hussey E.G.Wa,idler E.R.Muse ""':. .. ... .,. ....-........ .. ~, ::- --" .:," ~ ~""_-"'- -.......r .-\. ~.('...~t'\.' "I ~,,-...~ ...... ~~ , ...;,r """'" r...... q~' ~ ~ ~:; ( S E~Ah~ ) 0.; C':"-z =:=t .:~ ... '=' zr.. f:"......... -........ ...~~ .......,..;:... ="0. .. .rL..... . ~........."':~_ \o..'.~~ ;>('._. :0"'- ..-~~ t.,:,...a....:....~~~. "..""- ".-.'. \... . .. ,.: E. J. Hughes NOES:Counoilmen ABSENT:C ouncilmen None Dr.E.R.Green I ----------x-------- STATE OF CALIFORNIA J COUNTY OF ORANGE ) ss. C.I~ OF SEAL BElLCH ) I, Ollie B.Padriok, City Clerk ot the City ot Seal BeaCh, County ot Orange,State ot California, do hereby oertify that the foregoing is a fUll, true and oorreot oopy of the or1ginal Reaolution No.242, now on file and of reoord in ~ offioe, with whioh original I have carefUlly compared the same. ,IN WITNESS WHEREOF, I have hereunto set ~ hand and affixed the offiolal seal of said City of Seal Beaoh, this 18th day of Aprl1,1935. --." ~~I''' , ". -=::'''\- ....... . ~/i ' I ,--\ ~\'5;(.~~, -$:i"~ c y or 0 e ~ 3eal Beaoh, ......... .~'" 'J ~ .......,. (S E A'" - J California. ~~ . ... -... :.~ ........ -.-' ..... --- ". 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