HomeMy WebLinkAboutCC ORD 1927-566 Bond issuance (Special)72.
Ofi:DINhNOk. NO. . 5 6
AN OhiadANOU OF 24.r.: OITI OP NATIONAL CAL-
WORN:A, PPOVIDTHO POP THS MILING4 OF Oda1)6
OF UITY IN TH.-. SIM OF 0180,000.00 FOL TILE
AOC/OUTTION OF A OfteTAIN YUNICIfAL 7414PhQV.t.:JCATT
ooN816T130 op n 1=IN CITY.
Wi1itO4iAti, the board of Trueteot tr the City or National
City, ealifornia, at a regular nestinti, thereof held on the 5th
day of Oetober, 102d, by a vote of more than two.thirda of all of
ite mombere„ duly paeasd and adopted lta liesolution No. 1074,
wberein it determined that the public interest amd necessity de.
mandod the acquisition, construction and completion b said City
of !latienal GIty of that oertain municipal Improvement, to -wit:
&tract work, coneleting of the oonstruction of a pave-
ment time 1neta6 thiolc Pnid, mixteen feet in width, oic;ht feet on
ouch oide of the center line thereof, oxevt that tht% earners be.
tween intersecting pavements at all ttreot intereections shall be
Paved t4 aOUrV4, 4104VOK to the center of said Intereuotions,
having a realms of twenty foot* upon the follewinL namoil street*
14 the said Oity of Rational City, to -wit:
FIR5T.4TBalt from the easterly line of P Avenue to a lino paral
lel thereto and dietut 290 feet eafterly fron the easter.
ly line of F Avenue; .
abg9dir,,Th4.47 from the easterly line of Firet Avenue to a line
parallel thereto quid 41etant eisht felt westerly frum tbe
°enter .the of V Avenue and from line parallel thereto
end distant faight feet easterly from the center tin e of
Highland tvonus to R line parallel thereto and diatult
eight foot westerly crom ',:ne center iine or Laurel ,5-venue;
THIRD OTHAIT fre,, .he easterly /ine of First Avenue to a line
paJ.,allei thereto end dietant eigilt feet westerly from the
(xlx“;er Itna of agialand tvenue;
1:92:21jamagt2rom the oastorly line of Firet Avenue, to n tine
parallel thereto and distant eight feet westerly from the
7 3 .
center line of elehlene Avenue and from the westerly line
of L Avenue to a line eaeallee therote MNI dieteet eight
feet easterly free tee eeetor lino of e evenue;
n SeNeeT ream the eaeterle liee ee Feeet e,aeve te te
erie ltne of L Avenue;
eeTee *Tee:2T from the easterly line of First A
ore line of e Avenue;
Seiteee from the easterle lie A Av
line E Aveleue;
7:::UTH,3TA4ZZ- trom tee easterly 1lne et Viret .venue to a line
parellel thereto and distant etght feet weeterle from the
center Itne et eighland Ave;
sINV:13VT4 e7eeET tram a line perallel tbereto and diatant eight
feet masterly tram the eenter line of Firet Avenue to a
line parallel thereto amt. dletent eight feet wet .; rozn
this center lino of L Avenue;
eleeTee'T" 4 °from the easterly line ef Biehth evezue to a
line parallel thereto end dlotant eight feet terir from
tee• oenter line of tlend Avemnel
ieeleirr ein '11
fro a line parallel teareto meld distant
eight feet easterly from the ()enter line of Richland Avenue
to a line parallel thereto and dietant 456 feet easterly
from the easterly line of R Avenue;
FIRST AVM= tram a line parallel thereto and distant 20 teet
souther y tram tee center line of Mole Street to the oene
ter lime of lath etroot;
4Ree eeeted4,from the *enter line of leth Street to a line passel
lel thereto and distant °lett feet nertherle from the eerie
ter line or 1Sth etreet;
eveeee from the southerly line of Dim n 8tro
erle line of Thirtieth Street;
Leeetee
from a line parallel thereto and distant eight
feet rtherly from the •center line of &mond Street to a
line parallel thereto and distant eight feet southerly
from the center line of Fourth Street;
- 2 -
?�.
northerly line of
' tW. m a lipp
sourly from the
iino parallel thereto
from .. the center lire of Twenty,
from a line parallel thereto and diatent ¢ :
y fram t B center lire of Fourth Stroot t
p r ie t o aand distant eight root northerly
t sete�r of3tnth trot
foliow s
Also st
''ti!e°' me to €1
y from the
l-i to and distant
the eenter line or w3
The construction of a pavement 1 ihee th3 e3 s
ty .four feet in sixth on E AVLITUU
f i hth +treet 9 o is lino parallel tboxlato and a iet t 3
northex iy from the center of Tenth Street and bo' o+en
of said E. Avenie and a line parallel to and
easterly from tho cent r line of said
Wale
paw
berl
sixteen
to and distant 24 fob
to a line parallel t
the center lip or lifeblood Avenue
and distant eight feet northerly
center line of Tenth Street;
t ween lines.
et oath.
of N Alamo
3. from
thereto Es
The construction. of a pav
Ettatnwidth onki&%:
4 feet `th
Tenth tre t e. 1141 a
enter llna '
WO
and
>�r
3.Y2t?
fly e bas t iekk a
7,1rJF., from a line ei
tho center
tt nslata t f:of
lne between
*o t
In width
distant sigh
rth Street to a Xing s lel
rrtberly from the center line
lineo parallel t
t.s
from u Line ss r lletl
OZ Ulf) ccn,tr lime
rxez h a treat:
oat westerly
1averJao
astruction `f a pavement Lie InchebiC and
x
.EWE= 3TVLIIT trim alino parallel
start
arid. 4 #' rtwesterly frx .z the eon
Co
t
of Thirti
in width en
dts
26 feet vrostariy from the cantor l',na of
en o to a line peralle1 thereto and dtst2AaL aso foot
air the fluter iino of hi bland Avenue and bet s►e
e1to and distant e s t feet nort e 1 24 foot
y dry. tho °eatery �. ins of i 1 te{■e�nthStreet;
J�
�,PfE i c 4ion of a paYy five e Inches thick.�.' 1d
width on HIOniAN3) r
poet to e line
from the northerly y l ine
hereto .fit' distant
620 Coat northerly from the :u t Zrrly .1 of Thirtieth Street
and between linos parallel to and distant, eight Coot westerly
an 0 feet wear rly from the center line of Highland Avenue; and
:' ► by said
mAif 3 tint the ee
too grey
of ec+.id City; and
o1utt33 No. 1174 it was also deter.
of said municipal Improvement was
erdinary awl totem and revenue
76.
HER4i8, the Be untoes of said Olt
4
regular meeting thereof held on the 3rd day of Hovether*
by a vote of tore than twowthirde of all its
duly
Passed and adopted its Ordinance No. 564 ealling aspoeial election
and submitting to the qualified voters or said city the proposition
of incurring a bonded debt in the sum of One Hundred Eighty Thou.
sand (1 ,:4,000*00) Dollars for the purpose of the acquisition, o
struetion and completion of said municipal lavrovemont„ and said
Ordinanee was thereupon duly published once a week for two (2) weeks
in The National Cl News* a weekly newspaper published and 'arm.
lilted in said Cit7 of National City less than sin (6) days a week;
r
id City on
the 6th day of Deelember* 1926* as provided in said Ordinance *all*
ing the stAmes and by law for holding municipal el,—tione in said
otitis and there was eubmitted at said election the proposition of
inourring a bonded indebtedness of :*,00041,00 for the following
purpose, to -wits street work consisting of the paving of certain
portions of certain streets and avenues in *aid City, all as set
forth in the o milling said elections and
WERfitA8, said proposition reeelved more than two.thirds
of the votes of all the voters voting at such special eleotionj
and
the Leslie
authorising the to/Nerving or ifldebtodre*s by cities, town. rt
municipal (coporations* for municipal lawsevements* and egelat.
inc the acquisition* menstruation or completien thereof** which
bee -,,,, a law February 26* 1901* and of all aete emd*tor thereof
or eupplementary thereto* and the provisions of the ordinances of
said City have been fully complied with me as to authorise the
issuance of said bons*
7 7 .
NOW, THE/WORE, the Board of City of
National City do ordain as follows:
SocitiOn 1, That bonds of the 0tt7 of National City in
the sum of tI80,000.00 be issued in accordance with the provisions
of an ant of the Legislature of the State of California entitled
"An Act authorizing the incurring of indebtedness by cities, towns,
and mnnicipal corporations, for nunicipal improv rite, and regum
lating the aoquisition, oonstruotion or completion thereof", which
became a law February 26, 1901, and with the acts amendatory there.
of and supplementary thereto, and with the ordinances a said city,
for the construction, acquisition and completion of the municipal
improvement sonsisting of the street work hereinbefore described*.
That said bonds Shall be Ono Hundred eighty (180) in
and shall be numbered from 1 to 180, both inclusive, and
shall be issued in the denomination of el„000.00 each, and the
principal and interest thereof shall be payable in gold coin of
the United States of America; that said bonds shall be dated Feb.
ruary 15, lam, and shall bear interest at the rate of five per
cent per annum, paeable semt.annually on the fifteenth day of Feb-
ruary and on the fifteenth day of August of eaoh and every year
during the life of said bonds* Said bonds shall be payable as
follows: Six (6) of sidd bonds shall be due and payable 6n the
fifteenth day of February, 1928„ together with interest thereon
and on all emu unpaid at such date, and Six (6) of said bonds
shall bo due and payable on the fifteenth day of February of each
and every year thereafter until all of said bonds are paid, to-
gether with interest thereon and on all sums unpaid on said re-
spective dates. Said bonds and mild interest shall be payable
at the office of the Treasurer of the City of National City,
California. Said bonds Shall be aubstantially in the following
form, to -wit:
16,
ST Tis OF AMERICA
ciLIFonsiA
NATIONAL CITY
dear
tZ'te'[3ia
prosisea to
of February, l
with interest t o n at
coat per annum, payable
day. of February and the t
and every year hereafter un"
pr en tnttz and surrender of
they soyorQ2 i.7 become due, both
payable in gold coin of the United
thea co of the Treasurer of said
is taau in purge of the Previa.
� 3i�tx a of tra State of C 1tfo
28th, 1901, and all
incurring rri.ng of indebtedness
esa
ta, and the tissue at the
pert has been authorised
e of all the duly qualified
at .a special election duly and
din said city an the sixth
t which the PrePosition c$ autb .
ryas aubmitted,
to d and doeIa ced that
by law to exist,
and in the issu..
and been per..
oquired by lee,
with all other
the limit pre••
the State ot
e, as required
collection of
t of this bond
fund for the
before matur•�
of National
t of prin.
1 res d.�
the Ci'
7 9 .
to
coupons sx1 na a
i:nata1iment of tar
th re , whieh said
be aubetanttally in form, to -wit:
=TER= COUPON
rest improvemen`
d of 1927.
Intern t• Coaatpcn No.
the tittee:
of National
this coupon a
tatty will pay to bearer
eoln of the United State* of
aemi..anrual Interest due on t
his coupon is attached.
th day of February
their numbering. The six lowest
on the t' f ennth day of February,
of FE bV cry of each and every yes
eat numbered bondo ehell become d
o each of said
accrue on such
st coupons stall
all be dated the fifteen.
e due in the order of
bonds shall become due
on the fifteenth flay
f'ter the six next high.•
ayablo until a l% of said
bonds s a 1.1 have been paid. interest said bonds ohail become
due and payable semi-annual 1y on the f 3 ft th day of February and
on the fifteenth day of Ault of each year upon the presentation
to the Treasurer of said City of the coupons therefor.
the
, i
and
City
of 'Truth e°;
e mine.
Ito meet
r
w Per ti
e?':eh bonds and also swell
' arr of nnid
ttod to.
is hereby er tho i
'i tiro eorporeata
surer of !mid
t ixeterest emplane or
to 9ff aed f and said bo
said City Treasurer
1 t4 of Nattonel G4
of
du
0
1 o
id
w rtvic
to cottn
i ty of National
authorised
w ee by hor
r,!o eh ai:l be
Eeh ;prinr 1pr .1
for
of
of fix
aw levy
or until
apt for that
ter.
ent to 'pa the ammual intoz eat
tbo prinsipal thereof i' as shall
ehle before the time for i'iaix g tho nett general tax lever,
a herein required to be levied and oolleoted shall be in
on to all ether taxe* X evtec . for 'vuni.e pai purposes ana
+al. +.ee ; 13 ,.t t .me € n 9 in the ea manner r as other
ev aro eoiaeetol ce e be used for no other purpcaeo
art of said 1,,enee an ; interesta�
15,E mere is here
t or of the dity oi'* +ton t City
nt ei tte i*i7C.atpal
lobed ae3
It
on id bo ds
Sis and the
pros aforesaid shell be paid into said
sinking fUnd as soon as shall be colleted* and ahall row
in in said sinking fund until required for the payment of tho
prineipal or intersot of said bonds. When the respective payments
of principel tad interest of said bends shall fall duo, the Tra*.•
surer of mai eity is hereby authorised and directed to pay the
saw out of the money*• in said fund upon the surrender of the bonds
end eoupone representing
4eet104 d, The proceed*
be pl in the City sbeausivy t* the oredit of a fund to be imown
as• "Uwai44m1 Street Bond Fund of 1987w, and the ewe
shall be applied exclusively to the purposes and objects mentioned
in this ea
said Board of trustee* and shall
lished ono& in The National Citr News, slesehlYnewspi
and eireulated in said City of National Cibi#0
gsu.and adopted on this 414.,, day
by the following vote* to.cits
Per Published
a JKOMarrik 1927,
AdI.is1 Biz" Ccrc3.ing1y, iritzLur
attest;
10,0
Alex Murray f w
trus.
City tiona2
A= OF' CA.
OVJUTY or ant .'+,
7,1 sty day of December
ill el C" Ming of said
was thereupon emu,
Cox r 4a', ..z.z., :''°1
Trust
roved and signed
r3 or said City *t Hational City ama
a
r the `"ii. seal
this...WI or January
,AL)
I hereby certify that the above and foreR7cinR is
fu.i , true
correct copy of Ordinance ITo. 566 of the Ora—
inances of the City of x't;wtio na.i City, California, as adopted
by the Board of Truste....on the 4th day of January 1927;
and the title of said Orai nanoe is as follows: "AN OPJ)INiAITC7
OF THE CITY OF ATT,O CITY, I -�..Rr I O
.. :�x3� CT'.L,.�I �- �; �:° , PROVIDING �; FOR THE
T1
i `S7UAYC.OF BO_Qf6 JF 6_ 1 CITY IN T E SUM OF4' 6O,v Q• FOR
.i�.� CST iF+ U� ].gin "O 00
TF`. ACQUISITION OF A C FTAIN MUNICIPAL IMPR O T- r T CONSIST—
ING OF STREET WORK i tt TIIIN SAID CITY." and said Ordinance was
published once in a
required by Law.
sular issue of Thy N ,tiona-i. City News, as.
City Clerk of the City of National
City, California.