HomeMy WebLinkAboutResolution No. 41166
RESOLUTION NO 411.
A RESOLUTION OF THE BOARD OF TRUSTEES OF TIM CITY OF
AZUSA, PROVIDING FOR THE ISSUANCE OF BONDS OF THE CITY
OF AZUSA IN THH' S UH OF TVaXTY THOUSAND DOLLARS ( 020, 000.00)
r
FOR TI.E PUHPOSE OF ACQUIHING CERTAIN PROPERTIES FOR A
MUNICIPAL LLIICTHIC DISTRIBUTING GYSTEM IN SAID CITY.
THAT Wlin3WAS, the Board of Trustees of the City of
Azusa, at a regular meeting thereof held on the 21st day
of Septeraber,1914, by a'vote of more than ,two-thirds of all,
its memberf3V duly .passed and adopted a Resolution determin-
ing that the public, interest and nerep sit) demands the ac-
quisition, construction and completion of certain mmnivi-
pal improvements whish are more particularly set forth
hereinafter, nrid 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 September 26thy1914, in"The Pomotropic", a
weekly newspaper of general circulation printed and pub-
lished in said City of Azusa, and
WHEREAS, the Hoard of Truotees of said City at a regu-
lar meeting held on the 5th day of October,1914, by a vote
of two-thirds of all itc membere, duly passed and adopted
an Ordinance calling a special election and submitting to
the qualified voters of said City the proposition of in-
curring; a bonded debt of Twenty Thousand Dollars (0"-0,000.00)
for the purposes more particularly hereinafter set forth,
and said Ordinance was, thereupon duly published for two
weeks in the aforesaid newspaper, "Thr, Pwnutropic", and
1-IIIhftLAS, such special election was held on the 24th
day of October,1914, as provided by t;aid Ordinance. calling;
the same, and by law for holding; municipal elections in
said City, and there was submitted at such election the
proposition oiincizrring; a bonded indebtedness of Twenty
Thousand Dollars (:)20,000.00) for the following; purposes,
,to-Wt;
"'Phe acquisition, gonstruction and eomplction by
said city of poles, wires, transformers, cross -arms,
electric mctere, tools, and any and ull kinds of supplies
and materials necessary for the acquisition, building and
d
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completion of an electric distributing system in the City of
Azusa", and
VIMRRAS, said proposition received more than two-thirds
of the votes of all voters voting at such special election on
said proposition, and
VlIUMBPAS, 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 corporations, for municipal improvements, and
regulating the acquisition, conetruction and completion thereof,
adopted February 25,1901, and of all acts amendatory thereof or
ornendator,r, thereof, and the provisions of the ordinances of
said City
of
Azusa, having
been duly complied with so as to
authorize
the
issuance of
said bonds;
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NOVO,TIILI:LFORL, the Board of Trustees of the City of Azusa
do resolzrc as follows;
Section 1. That bonds of the City of Azusa in the sura of
Twenty Thousand Dollars (020,000.00) be issued in accordance
with the provisions of an act of the Legislature of the State
of California, entitled,"An Act authorizing the insurring of
indebtedness by cities, towns,, :end municipal corporations for
municipal improvements, and regulating the aecquisition, construe -
tion or completion thereof", adopted February 25,1901, and with
the acts amendatory thereof and supplementary thereto, and with
the ordinances of said City of Azusa.
That said bonds shall be forty (40) in number and shall
be issued in the denomination of Five Hundred Dollars (0500,00)
each, and the principal and interest thereof shall be paid in
gold coin of the United States. That ther shall be dated
January ^nc1,1915, and shall hear interest at the rate of six
per cent, (GJ) per annum, payable semi-annually on the 2nd day
of
January,
and on
the
second day
of July of
every year
during
the
life thereof.
Said
forty bonds
shall be
payable in
the
manner following;
i
One o0 aid bonds on the following; date,to-wit;
the second day of January,1916, and one of said bonds on
the same day and month of each o-ind every year thereafter,
I
together with the interest on all sums unpaid at such date
until the whole of said bonds,
accrue thereon. is raid.
together'with the interest to
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C)8 • •
Said bonds and said interest shall he payable atthe
office of the Treasurer of the City of Azusa; and said ; `,
bonds shall be substantially in the following; form,
t0 -wit;
0500.00
UNITED STATES OF AMMIQA,
STATE OF CALIFORNIA,
CITY OF AZUSA.
NO.
UUNICIPAL BLECTRIC SYSTIM IIiPROVEMENT BOND.
Azusa California, .11914.
On thek4j( day of (year of maturity)
the City of Azusa will pay to the bearer at the office
of the Treasurer of the City of Azusa, the sura of Five
Hundred Dollars (4500.00) with interest at the rate of
six per cant 0%) per annurn, payable serai-annually on
the 2nd day of January, and the grid day of July of each
year, as specified in the interest coupon hereto at-
tached, at the office of the Treasurer of the City of
Azusa, upon,the presentation nand surrender of said
interest coupong. Principal and interest payable in gold
coin of the United :hates. This bond is issued in pur-
suance with the provisions of an act of the Legislature
of the Steto of Cnlifornia,entitled,"An Act authorizing
the incurring of indebtedness by oititns;, tgwns and
municipal corporations, for municipal iraprovements
and regulating the acquisition, construction or com-
pletion thereof," adop*.ed Februnry 25,1901, and with all
the acts immidailory t;zereof mud 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 board. That this: issue of bonds has been
authorized by the, vote of two-thirds of all the .roters
votinL; on the question of larch issues at a special
election duly and redularl.1+ cr.11ed and held in said
City oil October 24th,1914, and that the total amount
of this issue, together with all the indebtedness of
said city, does not, in the r.gt;regate exceed fifteen
per cent,(15°f) of the 713sessed valuation of all non-
operative property in the said City of Azusa, nor does
it exceed thAimit provided by the Consgtution and latus
of the State of California.
IN WITNESS WH'.BRBOL', the City of Azusa has caused this
bond to be signed by the executive of said municipality,
to -wit;
The Preeidenb of the Board of Trustees of the laid
City of Azusa, and also by the Treasurer thereof, and to be
countersigned by the City Clerk of said City, and the corpor-
ate seal of said City to be; affixed thereunto, and the said
City has caused the Corporis thereto attached to be numbered
con8ecutively and si(;pred by the lithographed signature of the
Treasurer of said City of Azusa.
(seal)
'l�rcr'ae'ri'erit of L1'e''B'riird of ^r'urte�e of i,ha �'
City of Azur-n.
Countersigned by
City Clerk of the Cit;, of Azusa.
Treasurer of t1ie City of A'zus-a.
That interest coupons aha.11 be attached to each of said
forty bonds representing each installment of interest to
accrue on said bonds itp to the maturity thereof, which sal.id
interest coupons shall be subHWntlally in the following form,
to -wit;
Ido
On the day of „ (rnorrth of Maturity)
of maturity), the City of Azusa
protnises to pay to the bearer, at the uffive of the Treasurer
of the City of Azuna, the sum of Dollars
(y) Gold Coin of the United :hates, being the semi-
a.nnual'interest due on Vunicipal Blectric System Improvement
Bond VO. (NO, of bond to which coupon is attrnched. )
Treasurer of the City of Azusa.
Section ?. That the President of the Bo,.rd of Trustees
of the City of Azuva, beim; the executive of .9;.Ad Municipality
, -,nd the City 'Treasurer of said City, are: hereby authorized
and directed to sign all the bendy herein provided for, and
the City Clerk is hereby outhovized and directod to counter-
Fit,n the carne and affix the corporate seal of the City of
Azue;a thereto, and the City Treasurer of snid City is hereby
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authorized and directed to sign the interest coupons of
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said bonds by his lithographed signature thereto affixed,
and said bonds shall he delivered by said City Clerk to
maid City Treasurer in such amounts as the Board of Trus-
tees of the City of Azusa sliall from Lime to time determine.
Section 3. That for the purpoee of paying the principal
and interest of such bonds, the Br,ard of Trustees of saihd
City shall, at the time of fixing the general tax levy, and
in the manner for such general tax levies provided, levy
and collect annually until said bends aro paid, or until
there shall he a sum in the Treasury of said City set
apart for that purpose, sufficient to meet all surae c:om-
iri6 due on principal and interest on such bonds, a tax
suffieient to pay the annual interest on such bonds, and
also such part of principal thereof as shall become 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 tis other municipal taxes are
colle,e,ted, 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
Municnpal Electric 13yotem Improvement Bonds shall be
placed in the City Treasury to the credit of n. fund
to be known as the Ni4nicinnl Electric System Improve-
ment Fund, and the, same shell be applied exclusively for
the puryioses and objects mentioned in this Resolution.
SIXTION 5. This Resolution shall become in full
force and effect immediately upon its adoption.
Section; G. The Cit; Clerk shall certify to the
passne;e of this Resolution and 813.111 cause the sar.ce to
be published on(-(,- in the Poraotropic, a weekly newspaper
of general circulation, published and circulated in said
City of Azusa.
Approved this 9th day of Novemb.or,1914.
ATTEST:
J.:;.Collins.
President of tare Board of Trustees
of the City of Azusa.
City Clerk of the City of Azusa.
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STATE OF CALIFORNIA
SS.
CQUNTY:-,OFZLOS. ANGE14S
I, C W.Bouldin, City Clerk of the City of Azusa, do hereby
certify that the foregoing Resolution was duly passed and
adopted by the Board of Trustees of the City of Azusa, signed
by the Procident of said Hoard and attested to by the City
Clerk, all at a regular adjourned meeting held on the 9th day
of November,l914, by the following vote;
Ayes; Barnes, Thompson, Petty, Clark, Collins.
Noes; None.
Absent; None.
City Clerk of the City of Azusii. -- -
(Seal) /� a'�"'`�1 Cg",�e)
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