HomeMy WebLinkAboutCC Reso No 1938-317
1
2
:3
4
5
6
7
8
9
10
11
12
13
" 14
0
0
I- iil 1L
Ul '" ::i 15
1II z <(
m ~ \)
o '" . 16
z ., ~
<( 0 -
I-zUl
Ul < ffi 17
1II ... >
m ~ it
0 18
0
c:
19
20
21
22
23
24
25
26
27
28
29
30
31
32
RESOLUTION NO. ~/ 1
WHEREAS, the Council of the City of Elsinore by
Ordinance No. 232 adopted on the 14th day of March, 1938, did
call and proclaim a special municipal election to be held in
said City of Elsinore on Tuesday, the 12th day of April, 1938,
for the purpose of submitting to the qualified voters of said
city at such election the proposition of inqurring a bonded
indebtedness in the amount of $15,000.00, the proceeds of which
are to be applied toward the costs of the acquisition of all
the outstanding improvement bonds dated May 10, 1926, and
designated "Series Xu, issued by the City of Elsinore, under
the Improvement Bond Act of 1915; and,
WHEREAS, it is desirable that bids be received for
the purchaseof said bonds on Monday, April 25, 1938, at the hour
of 7:30 P.M. in the council chamber of the City Hall in said
City of Elsinore, and that notice for calling such bids should
be given;
NOW, THEREFORE, BE IT RESOLVED that the City Clerk of
the City of Elsinore be and he hereby is authorized and directed
to give notice of the sale of said bonds in substantially the
following words and figures:
NOTICE OF SALE OF MUNICIPAL BONDS OF THE
CITY OF ELSINORE, CALIFORNIA
NOTICE IS HEREBY GIVEN that sealed proposals will be
received by the City Clerk of the City of ElSinore, California,
at the council chamber of the City Hall in said city up to 7:30
P. M. on Monday, April 25, 1938, and at that time publicly
opened and read, for the purchase of all or none of the series
of municipal improvement bonds of the City of Elsinore, Calif-
ornia, described as follows:
-1-
1
2
3
4
5
6
7
8
9
10
11
12
13
It: 14
u
0
I- ~ a.:
Ul .. ::i 15
ILl Z 0(
m ~ 0
o 1&1 . 16
z ., ~
0( c -
I- Z ~
Ul < III 17
lJJ ... >
m .. ii:
:;:
0 18
0
0:
19
20
21
22
23
24
25
26
27
28
29
30
31
32
A series of municipal improvement bonds in the total
par value of $15,000.00, issued for the purpose of the acquisi-
tion by the City of Elsinore of all of the outstanding and un-
paid bonds dated May 10, 1926, issued by the City of Elsinore
under the Improvement Bond Act of 1915 and designated as
"Series X", together with appurtenant and unpaid coupons thereon.
Said bonds will each be dated April 25, 1938, and wil+
be fifteen in number and will be numbered from 1 to 15, both
inclusive, and of the denomination of $1,000.00 each and shall
mature in the following manner:
Bond # 1, payable April 25, 1939
Bond # 2, payable April 25, 1940
Bond Ii 3, payable April 25, 1940
Bond # 4, payable April 25, 1941
Bond # 5, payable April 25, 1942
Bond # 6, payable April 25, 1942
Bond # 7, payable April 25, 1943
Bond # 8, payable April 25, 1944
Bond # 9, payable April 25, 1944
Bond # 10, payable April 25, 1945
Bond # 11, payable April 25, 1946
Bond # 12, payable April 25, 1946
Bond # 13, payable April 25, 1947
Bond # 14, payable April 25, 1948
Bond # 15, payable April 25, 1948
The rate of interest to be paid on sal d bonds shall be
five per cent per annum, payable semi-annually, both principal
and interest to be payable at the office of the Treasurer of the
City of Elsinore, ElSinore, California. All of said bonds will
be sold for cash and at not less than par value and accrued
interest to date of delivery and each bid must state that the
bidder offers par value and accrued interest to date of delivery,
and state separately the premium, if any, offered for the bond
for which the bid is made.
A certified cheek or a caShier's check for a sum not
less than $750.00, payable to the order of the Clerk of the
City of Elsinore must accompany each bid as a guaranty that the
bidder, if successful, will accept and pay for said bonds in
accordance with the terms of his bid, and such check shall remain
-2-
1
2
:3
4
5
6
7
8
9
10
11
12
13
:< 14
u
0
!- iil .,:
III Ul ::i 15
JJJ z <(
m ~ \J
o "' . 16
z " ~
<( c -
!-Zoo
III < ffi 17
JJJ " >
m ~ ii:
0 18
0
'"
19
20
21
22
23
24
25
26
27
28
29
30
31
32
in the possession of the Clerk of the City of Elsinore until all
of said bonds are paid for.
Said bonds will be ready for delivery on or about the
28th day of April, 1938, or as soon thereafter as said city can
have the same prepared and ready for delivery, and will be de-
livered at the office of the Treasurer of the City of Elsinore,
in Elsinore, California, and shall be paid for in full as soon
as ready for delivery.
The bonds herein referred to are issued in pursuance
of an act of the Legislature of the State of California, approv-
ed April 26, 1909, as amended entitled: "An Act to authorize
municipal corporations to issue bonds for the purpose of acquir-
ing other general obligation bonds of the municipal corporation,
or bonds issued by or for districts therein, or bonds issued for
street work or other public improvements, and providing for ac-
quiring such bonds, and the levy or collection of taxes and as-
sessments to pay principal and interest of bonds acquired, the
use of funds derived from bonds issued under this act or acquired
under this act, and the pa'Ylllent of bonds issued under this actll,
and pursuant to the ordinances of the City of Elsinore.
The COuncil of the City of ElSinore reserves the right
to reject any and all bids.
The City of Elsinore was incorporated under the laws
of the State of California on April 22, 1888, and is now operat-
ing as a Sixth Class City, under the Municipal Incorporation
Act of the State of California.
The assessed valuation of the taxable property of said
city for the year 1937-38, upon which such bonds are a lien, is
the sum of $1,102,140.00. The total amount of other bonded
indebtedness which is a lien on said property is the sum of
$46,000.00.
Dated:
...etC
April I~ , 1938.
/~' /7
~. .....-. ~--
01 ty cPr 0 ~C:h.1nore
-3-
1
2
3
4
5
6
7
8
9
10
11
12
13
l< 14
u
0
I- ... .
m Ii.
III .. :i 15
w z .(
lD ~ u
oW,
z ., ~ 16
.( 0 -
I- z III
III < III 17
W " >
lD ~ a:
0 18
0
'"
19
20
21
22
23
24
25
26
27
28
29
30
31
32
Said notice sball be publisbed twice in tbe Elsinore
Leader-Press, a weekly newspaper publisbed and circulated in
the City of Elsinore, prior to the date for receiving bids, and
a copy of such notice shall be mailed, postage prepaid, to the
Department of Finance of the State of California, and to the
State Treasurer of California at Sacramento, in accordance with
the provisions of Section 673 of the Political Code.
I, C. J. Kalina, the duly elected, qualified and act-
ing Clerk of tbe City of Elsinore, California, hereby certify
that the foregoing resolution was duly and regularly introduced
and adopted by the Council of said city at its regularly adjourn-
ed meeting held on the IC~day of ~ ' 1938, by the fol-
lowing vote:
Ayes: Councilmen ~#, ~" - d If?, ~~.: -I,
W:~P~/8~~of 17.~~.~
Noes: Councilmen ~ i
4~~_~d i,
Absent: Councilmen (."'/~
'7)~"':!_"":~ /.~ l
(,.1::::. .. j/ n.c:J ~~ C(.
Clerk ~'>~he <Oi ty of EISino;e
EB:MB
-4-