HomeMy WebLinkAboutOrdinance No. 2251
2
3
4
5
6
7
8
9
10
11
12
13
°z 14
Z a J
a
omc+ 15
90
0,07
m
°o�Z,0 16
aaoe
J � M z o
¢_
Z 17
IVJ
F
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
ORDI1]6F CE 110.,Z;�3 ..
A:1 ORDIf1AI1C11 .32OVDII]G 1'0'2 TITS'ISSliIl;G 011' BOLDS 0N' 2OITY
024 _?MU, C1LI,40R11Iii, D THE SUII OF T3I3TY-i IV; TaOUSAM DOLLARS
11'03 'NE AC`UTIS Ti' IOIi , COBSTRU CTIOI; , 73Z IR , I.IAII]T 24ANC'; ArD CO'_'_
FL11 OF ST.2I:1:T i"ORY, U2011 TIS 2UBLIC STR?7.,`T10 Cid THE CITY OF
AZUSA.
7-1E1'EAS the Board of Trustees of the City of ,I-usa, Cal-
ifornia, at a regular meeting thereof, held an the 16th day of
July, 1923, by a vote of two-thirds of all its members duly
passed and ,adopted a resolution determining that the public in-
tereet and necessity demand the acquisition, construction, repair,
maintenance and completion by said City of t,zusa of the following
municipal improvements, to -wit;
The acquisition, construction, repair, maintenance and com-
pletion of street work upon the public streets of the City of
Azusa; and that the estimated cost of such municipal improvements
was Thirty-five Thousand (x35,000.00) Dollars, and such estimated
cost was and will be too great to be paid out of the ordinary
annual income and revenue of said City; and,
7TI REAS Said resolution was approved by t'c,e ysecu.ti3re of said
City, to -exit ; rhe ?resident of said Board of Trustees, on said
16th daj of July, 1923, at said meeting of said board of Trustees,
and was published on the 27th day of July, 19P-3, in the Yomo-
tropic, a weekly newspa,er of general circulation, published
and circulated in said City of Lzusa; and
"ll MAS, the Board of Trustees of said City of "zusa at a
regular meeting thereof, held on 'die 20 day of
1923, by a vote of two-thirds of all its mrnbers, duly pa sed
and adopted an Ordinance, calling -- special election and subraiittinl
to. the qualified voters of said City, the following proposition
set forth in said resolution;
The proposition of incurring a bonded debt of the sum of
1.
I
+� 6
1
Tiiirty-five i'housand (135,000.00) Dollars, for the acquisition,
2
construction, repair, rzwintenance and completion of street work
3
1 upon public streets of tie City of Azusa; and said Ordinance
4
was approved by the Executive of said City, to-snit; The Presi�lent
5
of the Hoard of 'Trustees on the said do
0.Y „ 19, ?r , an1
6
sail Ordinance was thereupon duly published once a �i ek for t;+o
7
weeks in The Pomotropic, a weakly news Byer of l
p general circulation(
8
published less 'dian six dt s a aee'r, in sai' City of .zusa; ;and,
9
1
IIi�R�A5 , such special el acti on was duly held on ti: e 26th d• z
10
of September, 1923 asT
provided by said Ordinance calling ti•�e s:a,ie
11
and by law for holding municipal elections in said. City; and said
12
proposition of incurring such bonded indebtedness hereinabove set
13
forth, received the votdo of more than trio-thirds of all the
= 14
zo;
voters voting at Burn. special election; and,
a 15
o,
.
ao Nm
'j
.�..., °
,. , all and similar the yrovisions of the �,et othe
x
Z0
0aau0 16
3„=o
Legislature of the State of Ca _ifornia, entitled; "fin act author-
w„<. 17
i;9
izin the incurring of indebtedne ss by cities, towns and muni-
L 18
cipal corporations for municipal improvements, and xegulatirg the
19
acquisition, construction or completion thereof,” wLich beca;ne a
20
21
lad? February 25th, 1901, together with all &mend.tents hereto,
and the Laa and Ordinances of said City have been fully complied
22
23
..ith so as to authorize the issue of said bonds;
24
IaO': TH R 20TTS the :3oar.d of Trustees of the City of .,zusa
25
do or dai n a s fo l low s ;
26
Section 1. That bor's of the said City of Azusa in the sum
27
of Tiirty-f_ive i'nouean.i (')35,000.00) Dollars be issued in accord-
28 I
ante with the provisions of the uct of the Legislature of tce
29
of California, entitled; ",in act authorizing the incurring of
30
indebtedness by cities, towns and municipal corporations for.
31
municipal improvements, ani regvlatinZ the acg1lisit.ior, con-
32
straction and completion t:ieraof," which became a law I'ebruary
25th, 1901, together witch all amendn,ents therefo, and with the
2.
st.
F
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
Ordinances of said City; that said bonds shall be thirty-five
(35) in number and shall be issued in the denomination of One
Thousand 01,000.00) Dollars each, and the principal and interest
thereon shall be payable in lawful money of the United States.
They shall be dated Dovquker 1, 1923, and bear interest at
the rate of six per cent (6%) per annum, payable semi-annually on
the lot day of may and the lot day of Doverber, of each year.
And said thirty-five (35) bonds shall be payable in the manner
following:
One of said bonds of the denomination of One Thousand.
(01,000.00) Dollars shall be paid on t:.e lot day of 1?ove:.ber, 1924,
and one of said bonds of the denomination of One Thousand Ql,OOO.0
Dollars on the same day anI date of each and every year thereafter
at the City Treasury of said City of uzusa, together alth interest
on all sums unpaid at such date.
t0 -wit ;
laid bonds shall be substantially in the following form,
No.
UIJITI:D STATES OF ,i.u;BICA
State of California
City of uzusa
STREET +l02K BOND.
:1,000.00
uzusa, Calif ornia,
November 1, 1923.
On the lot dry of November, A. D. (your of aaturity) the
City of .uzusa will pay to the bearer at the office of the City
Treasurer of the City of .uzusa, in the County of Los .,n6eles, °tut
of California, the sum of One `.�''Zousand Dollars, with interest at
the rate of six per cent per annum, payable semi-annually on the
let day of Lay and the 1st day of .1ovember of each year, as
specified in the interest coupons hereto attgched, at the office
of the City Treasurer, upon the presentation an.4 surrender of
said interest coupons. 'rincipal and interest payable in lawful
money of the United States.
This bond is issued in pursuance of the provisions o! as .
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 regula-
ting the acquisition, construction or completion thereof," which
became a law February 25th, 1901, together with all amendments
thereto.
3.
.Q_
1
2
3
4
5
C:
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
If
IT I3 FURTH23 CORTIPEOD, that all the requirements oflar:,
and of the Ordinances of the City of Kzusa for the issuinj of this
bond have been fully co«,plied with by the proper officers; that
this issue of bonds has been duly authorized by the votes of tWo
thirds of all t ie voters voting at a special election duly an a
regularly allad and held in said City on the 26th day of Septembers,
1923, and that the total amount of Kis issue, together. with all �
indebtedness of said City, does not in the aggregate exceed
fifteen per cent of the asse;sed value of all the real snd personal
property of the said Oity of nzusa, nor does it exceed the limit
prescribed by the Constitution and laws of the State of Cali£ornja�
III :7ITMS3 :T.,4mpan, the said City of Azusa has caused this
bond to be signed by the inecutive 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 countersigned
by the Clerk of said City, and the Corporate Seal of sai 3 City to
be affixed hereto; and the City has caused the coupons hereto
attached to be numbered consecutively and signed by the Treasurer
of said City of Azusa.
^esident of the Board of Trustees of
the City of nzusa
Treasurer of the City o ;;zusa.
Countersi,ned by
City Clerk of the City of >zuan.
(Seal)
That the interest coupons shall be attached to each of said
thirty-five (35) bonds representin;; each installment of interest
to accrue on such bDnds up to the uaturity thereof which said in-
terest coupons shall be substantially &s follows;
On the tat day of (mo nth of maturity)
A. D•. (year A maturity), e CiVy of Azusa promises
to pay tha bearer at the office of the City Wreasurer of the City
of Azusa, the sum of (amount of interest), in lawful money of the
United States the semi-annual interest due on etreet `fork Bond
Ito. �It0. of bond to which coupon is attached).
Treasurer of the Oily of nzusa.
Section 2. That the 2resident of the Board of Trustees of
the City of Azusa being the 7xecutive of the municipality, and the
City Treasurer of said City, are hereby authorized and directed to
siSn all the bonds herein grovided for, and the City Clerk is
hereby authorized and directed to countersign the sarue and to affi
4.
w
1
the corporate seal of the City of Azusa thereto, and the City
i
2
Treasurer of said City is hereby authorized and directed to si3011
3
the interest coupons of said bonds,and said bonds shall be
4
delivered by said City Clerk to said City Treasurer in such achount,
5
as the Board of Trustees of said City may from time to time de-
6
termine.
7
rection 3. That for the pamp>oe of paying the principal and
8
interest on such bonds, the Ward of Trustees of said City shall,
9
at the time of fixing; the general tax levy, an ,1 in the manner for
10
suchener.31 tax levy y provided, levy and collect annually, each
11
year until said bonds are
' paid, or until there shall be a sum in
12
the Treasury of said City, seta sufficient
par. mor that purpose, su�fa.cient
13
to meet all sums coming due for principal and interest on such bonfe,
Z
Z 3 j
14
a tax sufficient to pay the annual intar.est on such bonds, and ala
o31U
ans"
15
such part of the prinoi xa.l thereof as shall become due before the
;a a =
16
JZ ,
time for fixing the next general ax levy.
o �i
l tlQ'n
ZZo
_;;
17
Said tax shall be in addition to all other taxes levied for
18
municipal purposes, and shall be collected at the sate time and in
19
20
the same manner as other municipal taxes are collected, and be use
21
for no other pur.aose than the payment of sail bonds and accruing
interest.
22
23
Section 4. The proceeds of the sale of said 4treet .fork
24
Bonds shall be placed in the City 'Treasury to the credit of a
25
fund to be known as the :street Vork Bond Pund, to. 2., and the sacs
26
shall be applied exclusively for t!-.e purposes and objects above
27
mentioned in this Ordinance, for Bich such indebtedness of shirty
28
"ive Thousand Q35,000.00) Dollars was incurred.
29
Section 5. The City Clerk shall certify to the passage of
30
this Ordinance , and its approval by the .2resident of said Board.
31
and shall cause the same to be pablisned by one insertion in
32
The'omotropic, a'.weekly newspaper of general circulation,publi.she.l
and circulated in said City of Azusi, and theteupon and thereafter
5.
1
2
3
4
5
6
7
8
9
10
Z 14
Z 0 j
omo+
15
®O W W m
;ei . 16
3 a a :
`>:)Q=
��
„d 17
I 0
BJ
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
the same shall be in full force and effect.
ndopte d this ,Z day of
cnu oz tide .soara of Trustee
of the City of Azusa.
11 Attest.
e vary of =zusa.
(S -AL)
STATE 02 CALIPO%�: I6 , )
)ss.
City of Azusa, )
I, J. 0. DLRRELL, City Clerk of tila City of tizusa, do hereb;
certify that the foregoing Ordinance was duly passed by the Board
of Trustees of the City of ,,zusa, and signed by the 'resident of
the Board at a regular nneting thereof held on the _ _day of
1923 , and that the a mie w, -Ls passed by the
tollowLi - vote:
A)Mq- Trustees:
DOES: 72a -- tee_
II7 '',:7 iT.SS ':E3i:$':0 I have hereunto set my hand and afi-;dd
the
Officia/l teal of the City of :zusa, this z �_ day of
0r1 --r/1 / , 1923.
6.