HomeMy WebLinkAboutCC Reso No 1926-168 CompleteR,SOIUTION NO. 168
.4HEREAS on the Bth day of December a certain resolution ii 165 was passed by this board authorizing
the issuance of serial funding woos of the City of Elsinore in the total amount of $6000.00;
NOV9 THEREFORE be it resolved, that pursuant to said resolution the President o1 the Board of Trustees
of the Citv of Elsinore is hereby authorized to execute I'or anti in behalf of the said City twelve bonds in
words and figures substantially in the following form:
"93500.00
STATE O F C A L I F O R N I A
CITY OF ELoINORE
S E R I A L F U N D I N G B O N D.
No.
Know all men b^ these presents that the Cite of Elsinore acknowledges itself indebted and
for value received hereby promises to pay to the bearer hereof the sum of Five Hundred Dollars in lawful money
of the United Ste yes of America on the 15th day of December 1927 to?ether with interest on said sum from the
date hereof until paid at the rate of 51 ywar centem per annum, payable semi - annually on the 15th Gays of June
and December of each year, upon presentation and surrender of the interest coupons hereunto attached as they
severally become due. Both principal and interest are payable at the office of the City 'freasuere of the City
of Elsinore at tine City hall in said Clty of Elsinore, State of Cali fornia.
This hand is one of a series of 12 bonds numbered consecutively from one to twelve, inclu-
sive, each of a like amount, becoming due on the 15th day of December of each succeadibg year for twelve years,
and is issued by the City of Elsinore for sic purpose of funding a certain judgment against the said City of
Elsinore rendered by the Superior Court of the State of Californai in and for the County of Riverside, aid in
full conformity with, and under and by virtue of, and in pursuance of a certain act of the Legislature of the
State of California entitled "An act authorizing the Common Council, Board of Trustees, or other governing
body of any incorporated city or town other than cities of the first claw to refund its indebtedness, to issue
bonds therefor and to provide for the payment of the same." approved March 9, 1897 and the amendments thereto;
and it is hereby certified that all the requirements of law have been fully complied with by the proper officers
in issuing this 'bond and that the total amount of this bond issue does not exceed the limit prescribed by the
constitution or statutes of the State of California.
In testimony whereof the Board of Trustees of the City of Elsinore 'rave caused this bond to
be si ^ned by their president, countersigned by the City Treasurer and attested by the City Clerk, this 15th. day
of December 1926.
Countersigned:
President of the Board of Trustees.
Attest:
City Treasurer City Clerk
which said 'bonds shall be numbered and become due and payable as follows, to -wit:
Bond #1, payable December 15, 1927
Bond i/2, payable December 15, 1928
Dona H3, payable December 15, 1929
Bond 1l4., payable December 15, 1930
Bond 65, payable December 15, 1931
bond ,Q6, payable December 15, 1932
Bond p7, payable December 1.5, 1933
Bond /i8, payable December 15, 1934
Bond { {9, payable December 15, 1935
Bond ii10j payable December 15, 1936
Band /ill, payable December 15, 1937
Used #12, payable December 15, 1938
each of ahich bonds shall be in the denomination of Five Hundred and no/100 ($5(X1.00) Dollars and shall hear
interest at, the rate of 51% per annum and sha11 have attached thereto intereet coupons in the amount of $13.75
each, substantially in the following farm, one coming due for each semi- annual interest payment:
"No.
On the 15th day of (&Uceaeal) 19 , the City of Elsinore promises to pay to :tearer Thirteen and
75/100 Collars ($13.75) in Lawful money of the United States at t he office of its City Treasuree being six
months interest then d ne on its Serial. Funding Bond NO. , dated December 15, 1926.
City 'treasurer "
BE IT FURTHER RIS:OLVED that the Cit^ Clerk be authorized to attest said bonds with his
signature and the City Treasurer be authorized to countersign the said bonds and to sign the :aid coupons and
that when so executed, attested and countersigned and sold in accordance with law and the provisions of this
resolution and said resolution k 165 of Deceuber 6, 1926, that said bones became valid obligations of the City
of Elsinore.
Pa -seo at a regular meeting of the Board of 'Trustees of the City of Elsinore on the 22nd
day of ilecenbev 1926.
'trustee A. G. Neck, voting Aye 'trustee L. B. 'Paylor, voting Aye
Jos. Bell, " " v P. C. Graham "
if. L. Everett, Absent