HomeMy WebLinkAboutOrd. No. 1925-176�lG x 1 e
ORDINANCE NOe 17b
AN ORDINANCE OF THE CITY OF ELSINORE PROVIDING FOR
THE ISSUANCE OF BCNDS OF SAID CITY IN THE AMOUNT OF
$28,000.00 FOR THE ACQUISITION, CONSTRUCTION AND
COMPLETION OF A SEVER SYSTEM FOR SAID CI!Y, AND FOR
THE REDEMPTION OF SAID BONDS..
Y
W ^ffRW, pursuant to Resolution No, 101 and Ordinance No. 151 of
they City of Elsinore, a special election was duly and regularly held in
said city on the 14th day of April, 1924, at which election there was
submitted to the qualified voters of said city the following proposition,
to -wit:
Shall the City of Elsinore incur a
banded indebtedness of Twenty -eight
thousand dollars ($28,000) for the
purpose of the acquisition, construct -
ion and completion by the City of
Elsinore of.a certain municipal im-
proa >smank,, to-wit: A system of works
for the treatment and disposal of
sewage from said City of Elsinore,
including the gcquzsition of lands
for sewer farm purposes, the acquia- -
ition, construction and completion
of a treatment plant and a sludge bed
for treating said sewage, the recon-
struction of the outfall sewer pipe
Pane of said city, the reconstruction
of the sewage pumping plant of said
city, the acquisition of a sewage pump
and the gcquisition of machinery, equip-
ment, apparatus, mat4rials, 'sands, ease-
ments, rights of way, and all other works
and property necessary therefor?
and
1AEP,EAS, said proposition received the affirmative vote and
assent of more than two - thirds of all the qualified voters of said city
voting at the said election and the said city is now authorized to issue
bonds in the amount and for the purpose hereinbefore specified:
NON, THEREFORE, the Board. of Trustees of the City of Elsinore do
ordain as follows:
etaa2 l< That bonds of the City of Elsinore, in the amount
of Twenty-eight thousand dollars ($28,000), be issued and sold for the
purpose set out in the recital hereof. Said bonds shall be designated
MUNICIPAL SEWER BONDS 192& Said bonds shall be twenty -eight (28), in-
clusive, and shall be of the denomination of One thousand dollars
(01,000) each. A l of said bonds shall be dated 1924, Bond Noe I shall
be payable, 1925, and one of said bonds, in numerical order, shall be pay-
able annually each year thereafter until all of said bonds are paid. Said
bonds shall bear interest at the rate of five and one -half per cent (51%)
per annum, payable semi-annually, on the first days of January and July
of each years Both principal and interest of said bonds shall be payable
in lawful money of the United States at the office of the City Treasurer
of the City of Elsinore in said city<
,.shawl That the executive of said city, to -wit: the
President of the Board of Trustees of said city, and the Treasurer of
said city, are hereby authorized and directed to sign all of said bends
and the City Clerk is hereby authorized and directed to countersign said
bonds and to affix thereto the corporate seal of said city, and the
Treasurer of said city is hereby authorized and directed to sign the
interest coupons of said bonds by his printed, lithographed or engraved
facsimile signature, and to number said interest coupons of each of said
bonds consecutively.
2
S�&'d9tAon x . That all of said bonds shall be issued in accordance
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 munici
On the first day of l the City of Elsinore,
California, will pay to the bearer at the office of the City Treasurer
of said city, in said city, the sum of Twenty-seven and 501100 dollars
( 27,50), in lawful money of the United States of America, being the
semi - annual interest then due on Municipal Sewer Bond No. ._,..
dated March 9, 1925
Treasurer of the City of Elsinore.,
California.
fjgjjan_j: That said bonds shall be sold by the Board of
Trustees of said city as they may hereafter determine and that the pro-
ceeds of the sale of said binds shall forthwith be turned over and placed
to the credit of a fund of the City of Elsinore, to be known as "1924
MUNICIPAL SEVER BOND FUND", and shall be used exclusively for the ac-
quisition, construction and completion of the municipal improvement de-
scribed in the recitals hereof.
Section 6; That for the purpose of paying the principal and
interest said bonds, the Board of Trustees of the City of Elsinore
shall at the time of fixing the general tax levy, and in the manner for
such general tax levy provided, levy and collect annually each year until
said bonds are paid, or until there shall be a sum in the treasury of said
city set apart for that purpose sufficient to meet all sums coming due
for the principal and interest on said bonds, a tax sufficient to pay the
annual interest on said bonds, and also such part of the 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 as
other municipal taxes are collected, and shall forthwith be turned over
and paid into a fund of the City of Elsinore, to be known as "1924 MUNICIPAL
SEVER BOND iNTEREST AND BOND REDEMPTIH FUND." Said fund shall be used
for no other purpose than the payment of said bonds and accruing interest
thereof.
SAW-1% That the Sity Clerk shall certify to the passage
and adoption of this ordinance by a vote of more than two-thirds of all
the members of the Board of Trustees of said city at a regular meeting
of said board, and its approval by the president of said Board, and shall
cause this Ordinance to be published once in the LAKE ELSINORE VALLEY PRESS,
a weekly news paper of general circulation printed and published in said
City of Elsinore.
MEMO, That his Ordinance shall take effect thirty days
after the final passage thereof,
ADOPTED, SIGNED AND APPROVED THlq_2_ day of march 1925
L. S_ �B.T,_, 1a�o
An-1111n-_
(Signed) President of the Board of
Trustees, of the City of Elsinore,
ATTEW: California.
... NAjjjxMjwQ:Q ,Signed)
d
STATE OF CALIFORNIA, )
City of Elsinore, ) as.
CCYJNTY OF RIVERSIDE. )
1, William Herbert, Clerk of the City of Elsinore, California,
do hereby certify that the foregoing Ordinance was introduced, at a regular
adjourned meeting of said Board of Trustees of said City, duly head on the
3rd= day of Parch 1925, and was thereafter at a regular adjourned meeting of
said Board duly held on the 9th day of Parch 1925, Passed and adopted by said
Board and thereupon duly signed and approved by the President of said Board,
and that said Ordinance was adopted by the following rote:
Ayes: Trustees: H. Bel
Sz eC} < P, NoS�ain, ESA. HBacao a:ad
1SiR d} Aae2a D. Reed
%
Noes: Trustees Eong m
Absent: Trustees: Idle.
Saga Si saeda lisaa aiarbest, r
Clerk of the City of Elsinore,
California
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