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HomeMy WebLinkAboutResolution No. 35021 RESOLUTION NO 350 A RESOLUTION OF THE BOARD.OF TRUSTEES OF THE CITY OF AZUSA , PROVIDING FOR THE ISSUING OF BONDS OF THE CITY OF AZUSA, IN THE SUM OF $55,000.00, FOR THE ,PURPOSES OF ACgTIRING CERTAIN PROPERTIES FOR 46 <MUNICMPAL WATER SYSTEM, AND FOR THE RECONSTRUCTION AND REMODILING OF THE MUNIDIPAL BI.ECT$IC LIGHTING SYSTEM. THAT WHEREAS, The Board of Trustees of the City of Azusag at a regular meeting thereof held January 26th,1914, by a vote of two-thirds of all its members duly passed and adopted a resolution determining that the public interest and necessity demands the acquis- ition, by said City, of certain municipal improvements which are more particularly set forth hereinafter, and determining that such cost was and will.be too great to be paid out of the ordinary annual income and revenue of said City, and said Resolution was duly published on January 30th,1914, in "The Pomotropio", a weekly .newspaper of general circulation, printed and published in said Cityuof Azusa, and MiRREAS, THE Board of Trustees of said City of Azusa, as a regular meeting thereof held on February 9th, 1914, by a vote of two-thirde of all its members, duly passed and adgpted an Ordinance calling a Special election , and submitting to the qualified voters of said City the proposition of incurring a bonded debt in the sum of Fifty-five thousand Dollars ($55,000.00)0 for the purposes more particularly hereinafter set forth, and said ordinance was thereupon duly published for two weeks in the aforesaid newspaper "The Pomotrop�c", and W011FAS, such special election was held on the,3rd ,, day of March,1914„ as provided by said Ordinance calling the same, and by law for holding municipal elections in said City, and there was submitted at such election the propositions of incurring a bonded indebtedness of fifty- five thousand Dollard ($551000.00) for the followinit purposds. to -wit; (a) The acquisition,by purchase, condemnation, or j15 - 316 otherwise of land or lands for the purpose of developing water thereon. The acquisition by pur- chase, condemnation, appropriation, or otherwise of water and water rights of whatsoever kind or nature, and whether the same be riparian, pond, lake, surface, subterranean, percolating , diffused, storm, well, artesian, or whatsoever other nature, kind or description. The acquisitionw, construction and completion of all the necessary machinery and equipment fpr the development of water on said land or lands, or for each, any or all of said water rights, and the con- struction and completion of wells and other means or methods of producing or procuring water from e*ch, any and all of the above named sources, and the acquisition, construction, and completion of all necessary ma- chinery and equipment for the operation of any or all of such means or methods. The acquisition by purchase, cpndemnation or otherwise of rightsaof-way for pipe lines, aqueducts, ditches, tunnels or other means which may be necessary or convenient in conveying such water from its source or production to such point or points of distribution as said City of Azusa may desire. The construction of pipe lines, acqueducts, ditches, tunnels and other means for the purpose of conveying such water from its source of production to such point or pointe of.distribution as said City of Azusa may desire. The acquisition by purchase or otherwise of pipe, pipes, tools, and all materials for the replacing , repairing, and waking such alterations as may be necessary in the pipe, or pipes, hydrants, turnouts, reservoirs, or any part or parts of the Water System of the City of Azusa, or that may be necessary to add to or Increase the presdnt:Vater System to meet the requirements of the increased population and public demadd of said City of Azusa. (b) The acquisition by purchase, oondemnation . 317 or otherwiew of poles, wire, transformers, crone -arms, electriometere, tomle and any and all kinds of supplies and materials neceeeary for the replacing, repairing and of making of such alterations asr.=ay be necessary in the poles, wire, transformers, cross - arms or any part or parts of the Electric System as owned and controlled by the City of Azusa, or that may be necessary to add or increase the present Electric Syetem to meet the requirements of the increased popu- lation , and public demand of said City of Azusa, and WHEREAS, said 11roposition received more than two- thirds of the votes of $11 voters voting at such special election, and WHHRBAS,$11 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 Corporations, for Municipal Improvements, and regulating the acquisition, construction, or completion thereof," adopted February 25th,1901, and of all acts amendatory thereof, or s%tpplemensary thereto, and the provisions of the ordinances of said City of Azusa, having been fully complied with so as to authorize the issuance of said bonds: NOW THMFORE, the board of Trustees of the City of Azusa do resolve as follows; SECTION 1. That bonds of the City of Azusa, in the sum of Thirty-five thousand Dollars ($359000.00) be issued in accordance with 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 Corporations, for Municipal Improvements, and regulating the Acquisition, Construc- tion or Completion thereof," adopted February 25th,1901, and with the acts amendatory thereof, and egkVplementary thereto, and with the ordinances of said City of Azusa; That said Bonds shall be eighty in number and shall be issued in the denomination of Four hundred and r - thirty seven dollars fifty cents ($437.50) each, and the principal and interest thereof shall be payable s..- M -1A n.-4- _P +1,. TT -4+-A Q+n+on MU.+ +1A." eU011 hs .318 • - • dated April lat,1914, and shall bear interest at the rate of five per cent (5%) per annum, payable semi-annually on the let, day of October, and on the let day of April of every year during the life thereof. Said eighty bonds shall be payable in the manner following: Two of said bonds on the following date, to - wit; The let day of April,1916, and two of said bonds on the same day and date of each and every Year thereafter together with the interest on all sums unpaid aY such date until the whole of said bonds, together with the interest to accrue thereon is paid. Said bonds and said interesp coupons shall be payable at the office of the Treasurer of the City of Azusa; Said bonds shall be substantially in the follow1ng form, to -wit; 437.50 NOi United States of America, , 1 , State of California, City of Azusa. Municipal Water System Improvement Bond, Azusa, California, April let,1914. On the let day of April, (Year of ma$urity) the Citymof Azusa will pay to the bearer at the office of the City Treasurer of the City of Azusa, the sum of Four Hundred and thirty seven dollars, fifty cents ($437.50) with interest at the rate of five per cent (4) per annum, semi-annually on the let ,day of October, and the let day of April of each year, as specified in'.the interest coupons hereto attached, at the office of the Treasurer of the City of Azusa, upon the presentation and surrender of said interest coupons. Principal and interest payable in Gold Coin of the United States. This bond is issued is pursuance with the provisions of an Act of the Legislature of the State of California, entitled "An Aft authorizing the Incurring of Indebtedness by Cities, Towne and Municupal Corporations, for Municipal Improvemenks and Regulating the-AcquisitiontA Construction,,or Com- pletion thereof," adopted February 25th,1901, and with all the acts amendatory thereof, and supplementary thereto. And it is further certified, that all the erequire- ments -of law and of Ordinances of the City of Azusa have been fully complied with by the proper officers for the issuing of this bond. That this issue of bands.has been authorized by the vote of two-thirds of all the voters voting on the question of such -issues at a special Election duly and regularly called and held in said City on March 3rd,1914, and that the total amount of this issue, together with all the indebtedness of said '( City, does not, in the aggregate , exieed fifteen per cent (15%) of the assessed valuation of all non-operative taxable property within the said,Gity of Azusa, nor does it exceed the limit provided �y the Constitution and laws of the State of California. IN WITIfESS YMERLOF, the City of Azusa has caused this bond to be signed by the executive of said Munioi- pality, to -wit; The president of the Board of Trustees of the said City of Azusa, and also by the Treasurer thereof, and to be countersigned by the City Clerk of said City, and the corporate seal of said City to be affixed thereunto, and the said City has cauded the coupons thereto attached to be numbered consecutively and signed by the lithographed signature of the Treasurer of said City of Azusa. President of the Board of rustees of the City of Azusa. Countersigned by (Seal) City Clerk o the City of Azusa. Treasurer`of the City of Azusa. `That interest coupons shall be attached to each of said eighty bonds representing each installment of interest to aocrue-on such bonds up to the maturity thereof. Which 01441 interest coupons shall be sub- 320 stantiWlxy in the foXiowing form, to -wit; N0. n On the .,i,_, day of (Month of maturity) (Year of maturity) the, City of "zusa promises to pay to the bearer, at the A office of the Treasurer of the City of Azusa, the sum of Ten Dollars ninety -three and one-half cents ($10.93*) Gold Coin of the United States, being phe semi-anauali�nterest due on Municipal Water Improvement Bond N0. ___(N0, of bond to which coupon is attched.) Treasurer of the City of Azusa. ,_i Section 2. That bonds of the City of Azusa, in 1 the sum of Twenty -thousand Dollars ($20,000.06) be issued4acoordance with the provisions of an Aot of the Legislature of theinState of California, entitled "An Act Authorizing the Incurring of Indebtedness by Cities, Towns and Municipal Corporations , for Municipal Improvements, and Regulating the Acquisition, Construction or Com- pletion Thereof," adopted February 25th,1901, and with the acts amendatory thereof,.and supplementary theret0,and with the Ordinances of said City of Azusa. That said bonds shall be eighty in number and shall be issued in the denominations of Two Hundred and Fifty Dollars ($250.00) each, and the principal and interest thereof, shall be payable in Gold Coin of the United States. That they shall be dated April lst,1914, and shall bear interest at the rate of five per cent (5%) per anntim,payable semi-annually on the let day of October, and on the lot day of April of every year during the life thereof. Said eighty bonds shall be payable in the manner following; Two of said bonds on the following date, to -wit; The ist day of Apri1,1915, and two of said bonds of the same day and date of each and every year thereafter, together with the interest on '321 all sums unpaid at such date until the whole of said bonds, together with the interest to accrue thereon, is paid. Said boh4e and said interest coupons shall be payable at the office of the City Treasurer of the City of Azusa. Said bonds shall be substantially in the follow- ing form, to -wit; $260.00 HOS Unitgd States of America. Syate of California. City of Azusa. Municipal Electric System Improvement Bond. , Azusa ,California, April lst,1914. On the lot day of April ,�.(Year of Maturity) the City of Azusa will pay to the bearer, at the office of the City Treasurer of the City of Azusa, the sum of Two.,Hundred and fifty Dollars($250.00), with interest at the rate of five per cent k%%) per annum, payable semi-annually on the lot, day of October and the lot day of April of each year, as specified in the interest coupons hereto attached, at the office of the Treasurer of the City of Azusa, upon the presentation and surrendwr of said interest coupons. Principal and interest payable in Gold Coin of the United States. This Bond is issued in pursuance -with the provisions of an act of the Legislature of the State of California, entitled "An Act Authorizidg phe incurring of Indebtedness by Cities. Towns. and Municipal Corporations, for Municipal Im- provemeAy,% and Regulating the Acquisition, Construction., or Completion thereof," adopted February 25th91901. and with all the sots amendatory thereof and supplementary thereto. And it is further certified, that all the require- ments of law and of,the Ordinances of the City of Azusa have been fully complied with by the proper officers for the issuing -of this bond, That this issue of bonds has been authorized by the gjate of two-thirds of all the voters voting 0n the question of such issue at a special election duly and regularly called %nd held in said City on March 3rd,19141 322 0 0 and that the total amount of this issue, together u . with all ,the indebtedness of said City, does•not, _J in the aggregate, exceed fifteen per cent (15%) of the assessed valuation of all non-operative taxable property within the said City of AZytsa, nor does it exceed the limit provided by the. constitution and laws of the State of California. IN WITNESS WHEREOF., the City of Azusa, has caused this bond to be signed by the executive of said Municipality, to-wAt; The President of the Board of Trustees of the said City of Azusa, and also by the Treasurer thereof, and to be countersigned by the City Clerk of said City, and , the -corporate efial of said City to be affixed -1 thereupto, and the said City has also caused the coupons thereto attached to be numbered con- secutively and.signed by the lithographed signa- ture of the Treasurer of said City of Azusa. President of the Board of Trustees of the City of Azusa. Treasurer of the City of Azusa, Countersigned by (Seal) City Clerk of the City of Azusa. That interest coupons shall be attached to each , of said eighty bonds representing each installment of interest to perue on such bonds up to the maturity thereof, whi6h ehldlinterest coupons,shall , be substantially in the following form, to -wit; On the let day of (MOnth of Maturity) (Gear of Maturity) the City of Azusa promises to pay to the bearerru attthe office of the Treasurer of the City of Azusa, the sum of Six dollars twenty five cents ($6.25) Gold Coin of the United States, being the semi-annual Interest due on Mt6nicipal Electric Sjtstem Im- provement Bond NO (NO, of bond to which , coupon is attached.) 0 0 323 reaasurer of t y of liusa. SECTION 3. That the President of the Board of True - tees of the City of Azusa being the executive of said Municipality and the City 'Treasurer of said City are hereby authorized and directed to sign all the brands herein provided for, and the City Clerk is hereby authorized and directed to countersign the same and affix the corporate s6SL of the City of Azusa thereto, and the City Treasurer of said City is hereby authorized and diredted to sign the interest coupons of said bonds by his lighographed signature thereto affixed, and said bong shall be delivered by said City Clerk to said City Treasurer in such amounts as the Board of Trustees of the City of Azusa shall from time' to time determine. Section 4. That for the purpose of paying the'principal'and interest of such bonds, the Board of Trustees of said City shall, at the time of fixing the general tax levy, and the manner for such general tax levy provided, levyand collect,annually until said bonds are paid, or dntil there shall be a sum in the Treasurery of said City set apart for that purpose, sufficient to meet all sums coming due from principal and interest on such bonds, a tax sufficient to pay the annual interest on sue bonds, and also such part of principal thereof as shall be- come 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 be used for no other purpose that the payment of said bonds and accruing interest. Section 5. The proceeds from the sale of said Municipal Water System Improvement Bond shall be placed in the City Treasury to the credit of a fund to be known as the Municipal Water System Improvement Fund, and the same shall be applied exclusively for the purposes and objects mentioned in thLe Resolution. .324 0 0 0 0 SECTION 6. The proceeds of the sale of said Municipal Electric System Improvement Bonds shall be placed in the City Treasury to the credit of a fund to be known as the Municipal Electric System Imppovement Fund, and the same shall be applied exclusively for the purposes and objects mentioned in this Resolution. SECTION 7. This Resolution shall become in full force and effect immediately upon its adoption. SECTION 8. The City Clerk shall certify to the passage of this Resolution and shall cause the same to be published once in the"Pomotropic " , a weekly newspaper of general oirculation,pub- lished and circulated in said City of Azusa. The fogegoing Resolution was duly adopted by the Board of Trustees of the City of Azusa. State of California, at a reguka'r meeting thereof held on the 9th day of March,1914. That the same was adopted by the following vote,to-wit; Ayes; Collins, Barnes, Clark, Case and Roach. Noes; None. Absent; None. City Cle{rrk., or tile City of Azusa. (Seal) Adopted and approved this 9th day of March,1914. .d^ I.D.Roach. Presidentof the oarsof ustee� s o�r"'- the City of Azusa.