HomeMy WebLinkAboutOrdinance No. 88r
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ORDINANCE NO.
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AN ORDINANCE PROVIDING FOR THE ISSUING OF BONDS OF
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THE CITY OF AZUSA IN THE SUM OF ELEVEN THOUSAND DOLLARS FOR THE
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PURPOSE OF CONSTRUCTING BY THE SAID CITY OF AN ADDITION TO THE
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WATER WORKS OF THE CITY OF AZUSA,
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WHEREAS, the Board of Trustees of the City of Azusa, at a
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regular meeting thereof, held July 11th, 1906, by a vote of two -
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thirds of all its members, duly passed and adopted a Resolution
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determining that the public interest and necessity demanded the
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construction by said City of a certain municipal improvement, to -
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grit: An addition to the Water Works of said City of Azusa; and
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that the estimated cost of said municipal improvement was Eleven
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Thousand Dollars, and that such cost was and will be too great
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to be paid out of the ordinary income and revenue of said City,
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and said Resolution was approved by the Executive of said City
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to -wit: The President Pro Tem, of said Board of Trustees on said
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11th day of July, 1906, at said meeting of said Board, and was
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duly published on the � day of + —_, 1906, in
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the POMOTROPIC, a weekly newspaper ofen6r circulation, print -
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ed and published in saidCity of Azusa; and
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WHEREAS, The Board of Trustees of said City of Azusa, at
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its meeting of July 18th, 19061 by a vote of two-thirds of all
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its members, duly passed and adopted an Ordinance calling a
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special election, and submitting to the qualified voters of said
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City the proposition of incurring a debt in the sum of Eleven
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Thousand Dollars for the purpose of constructing the aforesaid
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addition to the Pater Works of the City of Azusa, and said Ord -
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inance was approved by the Executive of said City, to -wit: The
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President of the Board of Trustees on said 18th day of July, 1906,
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and said Ordinance was thereupon duly published once a week for
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two weeks in the POTMTROPIC, a weekly newspaper of general cir-
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culation, published less than six days a week in said City of
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Azusa, and
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WHEREAS, such special election was duly held on the 7th
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day of August, 1906, as provided by said Ordinance calling the
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same, and by law for holding municipal elections in said City;
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and the proposition of incurring a bonded indebtedness of Eleven
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Thousand Dollars for the purpose of constructing by the said City
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of Azusa of an addition to the Water Works of the City of Azusa
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received more than two-thirds of the votes of all voters voting
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at such special election; and
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WHMEAS, All and singular the provisions of the Act of the
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Legislature of the State of California, entitled, "An Act author -
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izing the incurring of indebtedness by cities, towns and muniei-
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pal corporations for municipal improvements, and regulating the
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acquisition, construction or completion thereof," which became a
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law February 25, 1901, andthe law and Ordinances of said City
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have been fully complied with, so as to authori.zerthe issue of
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said bonds.
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NOW, THEREFORE, The Board of Trustees of the City of Azusa
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do ordain as follows:
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SECTION 1: ' That, bonds of the City of Azusa in the sum
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of Eleven Thousand ($11,000.00) Dollars, be issued in accordance
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with the provisions of the Act of the Legislature of the State of
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California, entitled, "An Act authorizing the incurring of in -
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debtedness by cities, towns and municipal corporations for rminici-
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pal improvements, and regulating the acquisition, construction or
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completion thereof," which became a law February 25, 1901, and
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with the Ordinances of said City; that said bonds shall be forty
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in number, and shall be issued in the denomination of Two Hundred
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Seventy-five Dollars each, and the principal and interest thereof
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shall be payable in lawful money of the United States; that they
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shall be dated September let, 1906, and shall bear interest at
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the rate of sig per cent. per annum, payable semi-annually on
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the first day of March and on the first day of September of every
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year. Said forty bonds shall be payable in the manner following:
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One of said bonds on the following date, to -wit: The first
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day of September, 1907, and one of said bonds on the same day and
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date of each andevery year thereafter at the City Treasury of said
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City, together with the interest on all sums unpaid at such date,
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and said bonds shall be substantially in the following form, to -
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wit:
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No .
...............
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UNITED STATES OF LITRICA,
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STATE OF CALIFORNIA,
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CITY OF AZUSA.
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WATER WORKS IMPROVF11ENT BOND
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$275.00.
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Azusa, California, September 1st, 1906.
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On the first day of September, A. D. (year of maturity)
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the City of Azusa will pay to the bearer at the office of the
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City Treasurer of the City of Azusa the sum of Two Hundred Seven -
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ty-five Dollars with interest at the rate of sig per cent per
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annum, payable semi-annually on the first day of March and the
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first day of September of each year as specified in the interest
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coupons hereto attached, at the office of the City Treasurer, upon
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the presentation and surrender of said interest coupons. Principal
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and interest payable in lawful money of the United States. This
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bond is issued in pursuance of the provisions of an Act of the
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Legislature of the State of California, entitled, "An Act author -
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izing the incurring of indebtedness by cities, towns and. munici-
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pal corporations for municipal improvements, and regulating the
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acquisition,construction .ori completion thereof," which became a
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law February 25, 1901.
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IT IS FURTHER CERTIFIED, That all the requirements of law
and of the Ordinances of the City of Azusa have been fully com-
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plied with by the proper officers for the issuing of this bond;
that this issue of bonds has been duly authorized by the vote of
two-thirds of all voters voting on the question of such issue at
a special election duly and regularly called and held in said City
on the 7th day of August, 1906, and that the total amount of this
issue, together with all indebtedness of said City, does not in
the aggregate exceed fifteen per cent, of the assessed value of
all the real and personal property of the said City of Azusa, nor
does it exceed the limit, prescribed by the Constitution and laws
of the State of California.
IIT WITNESS ThMEOF, The said City of Azusa has caused this
bond to be signed by the Executive of said municipality, to -wit:
The President of the Board of Trustees of said City of Azusa, and
also by the Treasurer of said City, and to be counter -signed by
the Clerk of said City, and the Corporate Seal of said City to be
affixed thereto; and the City has also caused the coupons thereto
attached to be numbered consecutively and signed by the Treasurer
of said City of Azusa.
President of-thpfBoard o`Trustees of
the City of Azusa.
Treasurer of the City of Wzusa.
Countersigned by 0`l, � ��Zi� ..
1ty er of �the ,y o Azusa.
(Seal)
That interest coupons shall be attached to each of said
forty bonds, representing each installment of interest to accrue
on such bond up to the maturity thereof, which said interest
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held on the 15th day of August, 1906, and that the.same was
passed bzr the f ollova ng vote:
Ayes.
Noes.6/1
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Absent.
IN WITNESS WHERE I wave ereunto set my hand and affix-
ed the seal of the City of Azusa this 15th day of August, 1906.
.1 y erTi o— e ,i y o zusa.
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