HomeMy WebLinkAboutCC Reso No 1926-159
Resolution No. ~.~.
A resolution af the Board of Trueteea of the C
(.) f I~:l ;;'in~):re,
lfDl:'ni~.
directing that
interest 00 the band. issued to cover thti cost
or the Vh-ttel' Supply {UHl Distribut systBm shell ba collscted in tre Y'i1f~r pril:t~dil'g
that
tI in which it, would otherwise be col18cted undM'che H::tons (',it the
Improvement Bond Act of 1915.
The BQar'd of Trustees of tht3 City of lnsiniJre, i do N'"
solve as follows:"
Section 1. Wheress the City (If Elsinore ha.s heretofore issued
certain bonds under the provisions of tho Imprl)v~uumt Bond Act 0 f 1915
to pay for the eost of f.l. water supply and distributing eystem in aa:ld
ci.'l;y, baing the work particularly dtlscrib~d in a Resolution of !.ntention
of this BOt'l.rd of Trustees, numbered 117, adopted March 12th, 1925,
reference to which is hereby made for a deacriz;.tion of the work and for
all further pa.rticul:u6j Now, therefore, H. i8 hereby found, resolv'3d nnd
declared, and it has bean made to appear to the satisfaction of this Board
of Trustees that, accoruingto the dates whm:'i theta.xea 0 f thfJ City (t'
Elsinore are colhH::ted.. there will l'~:I an insufficient amount on hfind to
pay t.he interest on said bonds when due, according to the method of collec-
tion provided by sa.ld Improvement Bond Iv:;t v f 1915.
Section 2. By reason of the foregoing it is resolvtHi IUld det~H'-
mintd that there ahall be an additional amount of interest on ~aid bond
iflsue collected with the taxes for the year'f; taxes or the Y'2;8r 1926, and
that said actdiUonal umount of interest shall 'bt) the interest eln said
bond issue for the period Qf six months in addition to thll.t which would
normally be collected.
Sec:.. 3.. Be it further resolved thttt tha interest on said bemd
issue for each f..md every succeeding year during thE! 11113 of 8nid bonds sh~ll
in like matm{lr be ~:DlaJlUJ. collac.rted i.n adV!3nce e07ering ,\ period
of six months in addition to that which would be no collected,
according to the mathcd prcndded by said Impt'oven:l'iiH'lt Bond Ad of 1915,
until the full amount 0 f interl'HJt to be collected undel' law
and the prcceedingB shall h6ve been collected.
J~ppro\'ed __~2~~~~~}J.....
President of the Board or Trustee.. ~
Attest a&~-<~
City lar.k.
State 0 Califo:rni~,
County or Rivf;rside.
It C. J. Kal.ini'1, City C::'e.i>. o.f t.he Chy of T~ldnl'Jre,
Cd.if~rnia, do h€,r€:by eertHy that the above and J QTegoing n;-l601u.tion
was duly and regu;a r1y adopted at a regulZlj" meeting of the Boa I'd of
Tnulteee of the Ci~ of Elfli.no.re,~alif0r.'nn.iiaJ. h€lld.at the City Ha.l.l.or
sa. id Ci'ty on the -..~'-.&day. of . ~_, 1'2.6, 'by the. followlnj~votG:
:~::~ Trust5u ~(3T7~~@~~~ c;~~~;~ .~41~/d.eIf
."s.nt'~~ ~~~~_
City Clerk of the cEfj of Elsinore, Cal.