HomeMy WebLinkAboutResolution No. 41272
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RESOLUTION NO 412.
A RESOLUTION OF THE BOARD OF TRUSTEES OF THE CITY OF AZUSA
PROVIDING,FOR THE ISSUANCE OF BONDS OF THE CITY OF AZUSA
IN THE SUM OF THIRTY-FIVE THOUSAND DOLLARS ($35,000.00)
FOR THE PURPOSE OF ACQUIRING CERTAIN PROPERTIES FOR A
MUNICIPAL WATER SYSTEM.
THAT Y&EREAS, the Board of Trustees of the City of
Azusa , at a regular meeting thereof held Septembgr 21st
19149 by a vote of more than.two-thirds of alb its members
duly passed and adopted, a resolution determining that
the public interest and necessity demands the.acquieltion
construction and eompletign of certain municipal improve-
ments 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 resolutiorm. was duly published on
September 26bh,1914, in "The Pomotropie", a weekly news-
paper of general circulation, printed and published in said
City of Azusa, and
WHEREAS, the Board of Trustees of said City of Azusa,
at a regular meeting thereof held on October 5th,1914,
by a vote of two-thirds of all its members, duly passed
and adopted, 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
Thirty-five Thousand Dollars ($35,000.00) for the
purposes more particularly hereinafter set,forth, and
said ordinance was thereupon duly published for two weeks
in the aforesaid newspaper,"The Pomotropic", and
WHEREAS, such special election was held on the 24th
day of October,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
proposition of incurring a bonded indebtedness of Thirty-
five Thousand Dollars ($35,000.00) for the following
purposes, to -wit;
"The acquisition, construction and completion by pur-
chase, condemnation or otherwise by said City of land or
lands for the purpose of developing water thereon; of
,•9 nh f a _ of whatsoever kind or nature;
of all necessary machinery and equipment for the development
of water upon said land or lands; of wells or other, means
or matters of producing or procuring water; of rights of
way for pipe lines, aqueducts, ditches, tunnels or other
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means which may be necessary or convenient in conveying such
water from it source of production to its point of distri-
bution, and of. pipe, pipes, tunnels, pLpe lines, agpeducts,
ditches and other means for the purpose of conveying such
water from its source of production to such point of distri-
bution as said City of Azusa may desire," and
Mir -JIM, said proposition received more than two-thirds
of the votes of all voters voting at such special election,
and
1HEREAS, all and singular, the provisions of an Act of
the Legislature of the State of California, entitled,"A n
Act authorizing the incurring of Indebtedness by cities,
towns and municipal corporations, for municipal improvements,
and regulating the acquisition, construction and completion
thereof," adopted February 2501901, and of all acts amendatory
thereof or supplementary 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;
NO1t THEREFORE, 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-fivo Thousand Dollars ($35,000.00) be issued in ac-
cordance 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, construction, or completion thereof". adopted
February 2591901, and with the acts amendatory thereof and
supplementary thereto, and with the Ordinances of said City
of Azthsa;
That said bonds shall be seventy (70) in number and
shall be issued in the denomination of,Five Hundred Dollars
($500.00) each, and the principal and interest thereof shall
be payable in gold coin of theUnited States. -That-they shall
be dated 2Ad 197K, and shall bear interest at the
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on the second day of � and on the second day of
XL[of every year during the life thereof. Slid seventy
bonds shall be payable in the manner following;
Two of said bondgs'�onntthe following date,to-wit;
the second day of bfiftemwilgliq and two of said bonds
on the same day and month of each and every year there-
after, together with the interest on all sumo unpaid at
such date until the whole of said bonds.together with the
interest to accrue thereon, to paid.
Said bonds and said interest shall,be payable at the
office of the treasurer of the City of Azusa; and said
bonds shall be substantially in the following form.to-wit;
$500.00
UNITED STATES OF AMERICA,
STATE OF CALIFORNIA,
NO'.
CITY OF AZUSA.
MUNICIPAL NATER SYSTEM IMPROVEMENT BOND.
Azusa California, ,_.__,- 1914.
On the 2nd day of (year of maturity.)
the City of Azusa will pay to the bearer Iat the office
of the Treasurer of the City of Azusa, the sum of Five
Hundred Dollars ($500.00) with interest at the rate of
six per cent,(6%) per annum, payablesemi-annually on the
2nd day of Neee•r and the 2nd day of of each year
as specified in the interest coupon 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 in pursuance 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 improve -
manta and regulating the acquisition . construction or
completion thereof." adopted February 25th.1901, and with
all the acts amendatory thereof and supplementary thereto.
And it is further certified that all the requirements
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 hae been
authorized by the mote of two-thirds of all the voters
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voting on the question of such issues at a special election
duly and regularly called and held in Paid City on October
24,1914, and that the total amount of this issue, together
with all the indebtedness of said city, does not, in the
aggregate exceed fifteen per cent,(lb%) of the assessed val-
uation of all non-operative property in the said City of Azusa,
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'lthe executive of said municipality,to-wit;
The President of the Board of Trustees of the said City
of Azusa, and also by the Treasurer thereof, and to be counter-
signed by the City Clerk of said City, and the corporate seal
of said City of Azusa, to,-beiaffixed thereunto, and the said
City has caused the coupons thereto attached to be numbered
consecutively and signed by the lithographed signature of the
Treasurer og said City of Azusa.
M
(SEAL)
President of t e Board of Trustees
of the City of Azusa.
Countereigned by
City Clerk of the City of Azusa,
Treasurer of the City of Azusa.
That interest coupons shall be attached to each of
said seventy bonds representing each installment of interest
to accrue on said bonds up to the maturity thereof, which said
interest coupons shall be subatantially in the following form,
to -wit;
NO
On the 2nd day of (month of maturity)
1year of maturity) the City of Azusa promisee
to pay to the bearer, at the office of,the Treasurer of the
City of.Azuea, the sum of Dollars,
($ ) Gold Coin of the United States, being the
semi-annual interest due on Municipal Water System Improvement
Bond NO, (No. of bond to which coupon is attached .)
fireasurer of the City of Azusa.
SECTION 2. That the President of the Board of Trustees
of =aid mimicinality.
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and the City Treasurer of said City, are hereby authorized
and directed to sign all the bonds herein provided for,
and the City Clerk is hereby authorized and directed
to countersign the same and affix the corporate seal of
the City of Azusa thereto, and the City Treasurer of
said City is hereby authorized and directed to sign
the interest coupons of said bonds by his lithographed
signature thereto affixes, and said botjde shall be
delivered by said City Clerk to said City Treasurer
in such amounts as the Board of!;Trustess of the City of
Azusa shall from time to time determine.
SECTION 3. That for the purpose of paying the
principal and interest of such bonds, the Board of
Trustees of Paid City shalle at the time of fixing the
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general tax levy, and in the manner for'euch general
tax levies provides, levy and collect 'annually until
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said bonds are paid, or until there shall be a sum
in the Treasury of said City eet apart for that purpose,
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sufficient to meet all sums coming due an principal and
interest on such bonds, a tax sufficient to pay the
annual interest on such bonds, and alsoisuch part of
principal thereof ad shall become due before the time
for fixing the next ileneral tax levy, Said tax shall
be in addition to all rather 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 accrueing interest.
SECTION 4. The proceeds from the sale of said
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Municipal System Improvement Bonds shall be placed
In the City Treasury to the credit cof':a fund to be
known as the Municipal Plater System Improvement Pund,
and the same ehall be �--Uplied exclusively for the
purposes and objects mentioned in this Resolution,
SECTION 5. This Resolution shall become in full
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force and effect immediately upon its adoption.
SECTION 6. The City Clerk shall certify to the
passage of this Resolution and shall cause the same to
be published once bn the Pomotropic, a weekly newspaper
of general circulation, published and circulated in said
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City of Azusa.
ATTEST;
Approved,this 9th day of November,1914.
aenti or tae boara or xrus
the City of Azusa.
C.W.Bouldin.
City Clerk of the City of zusa.
STATE OF CALIFORNIA,
CITY OF AZUSA.
I, C.W.Bouldin, City Clerk of the City of Azusa, do hereby
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certify that the foregoing Resolution was duly passed and
adopted by the Board of Trustees of the City of Azusa,, and
signed by t% e•President of said Board and attested to by
the City Clerk, all;•at a regular adjourned meeting held on
the 9th day of November,1914, by the following vote;
Ayes; Barnes,- Thompson, Petty, Clark, Collins.
Noes; None. -
Absent; None.
(seal)
City ler�k of— the City oaf Azusa.
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