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HomeMy WebLinkAbout0219 1 2 3 4 5 6 7 8 9 10 11 12 0 13 z z - < 0- o ~ .J Z 14 w....:;G:: O.JlII~ 0:: I- 1oI- :lo(.J.J 15 I-I/)~< <n >. > u Willi. .,zz- 16 " > zo 0 e " Z e z ::l< 0 17 0 I 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 ORDINANcE NO. 219. , 0, ;;Z If) AN ORDINANCE OF THE CITY COUNCIL AND BOARD OF TRUS- TEES OF THE CITY OF ARCADIA PROVIDING FOR THE ISSUANCE OF BONDS OF SAID CITY OF ARCADIA AUTHORIZED AT A SPECIAL MUNICIPAL ELECTIO HELD ON THE 30TH. DAY OF OCTOBER, 1928, IN THE SUM OF $45,000.00, FOR THE CONSTRUCTION AND COMPLETION BY SAID CITY OF ARCADIA OF A CERTAIN MUNICIPAL IMPROVEMENT HEREINAFTER PARTICULARLY SPECIFIED. WHEREAS, the City Council and Board of Trustees of the City of Arcadia,at a regular meeting of said City Council and Board of Trustees, held on the 19th. day of September, 1928, by the unanimous vote of all its members, duly passed and adopted a Resolution declaring that the public interest and necessity deman the construction and completion by said City of Arcadia of a cer- .tain municipal improvement, to-wit: The acquisition of Lots Nineteen (l9) and Twenty (20), Block 74, Part of Arcadia, in the City of Arcadia, County of Los Angeles, State of California, as per Map recorded in Book 15,page 9 Miscellaneous Records of said County and the construction thereon of a Public Library Building, and WHEREAS, said Resolution was approved by the Mayor of and President of said City Council and Board of Trustees on said 19th. day of September, 1928, and WHEREAS, the said City Council and Board of Trustees did thereafter, at a regular meeting of said Board, held on the 17th. day of October, 1928, by the affirmative vote of more than two-thirds of its members, duly pass and adopt an Ordinance call- ing a Special Municipal Election to be held in said City of Arcadia - J on the 30th. day of October, 1928, for the object and purpose of submitting to the qualified electors of said City the proposition of incurring an indebtedness and issuing bonds for the purposes set forth in said Ordinance, to-wit: The proposition of incurring a bonded indebtedness and issuing bonds in the sum of Forty-five Thousand ($45,000.00) Dollars for the construction and completion by said City of Ar- cadia of a certain municipal improvement, to-wit: The acquisition of Lots Nineteen (19) and Twenty (20) Block 74, Part of Arcadia, in the " , City of Arcadia, County of cJ~e, ,;%. ,;(/Y' Los 8 9 10 11 12 . 13 z z - < 0- o~...z 14 w <( 50: OJIDO a:::t-w~ :J<.JJ 15 ~. ~ ~.:! ~ tIl> > Will';' o(Izz- 16 . > zo 0 ~ z ~ ~ ::l< 0 17 0 1 , 18 19 21 22 23 '24 25 1 Angeles, State of California, as per Map recorded in Book l5, 2 Page 89, Miscellaneous Records of said County, and the construc- 3 tion thereon of a Public Library Building, and 4 ,WHEREAS, said Ordinance was approved by the Mayor of 5 and President of the City Council and Board of Trustees of said 6 City of Arcadia and attested by theCi ty Clerk of said City of 7, Arcadia on said 17th. day of October, 1928, and said Ordinance was thereafter duly published in The Arcadia News" ._. a, weekly newspaper published and circulated in said City of Arcadia, once a week for two successive weeks prior to the date of said Special Municipal Election, and WHEREAS, said Special Municipal Election was held on the said 30th. day of October. 1928, as provided by said Or- dinance calling the same and by law for holding Municipal Election in said City and said proposition of incurring the bonded indebt- edness hereinbefore mentioned received more than two-thirds of the votes of fhe qualified voters voting at such Special Municipal Election, and WHEREAS, all and singular the provieions of an Act 20 . of the Legislature of the State of California, entitled: II An Act 26 Authorizing the inourring Of Indebtedness by Cities, Towns and Municipal Corporations for Municipal Improvements and Regulating the Acquisition, Construction or Completion !hereof", which be- came a law February 25, 1901, and all Acts amendatory thereof and supplementary thereto, and the laws of the State of California, governing Cities of the eixth class and of the Ordinances of said City, have been fully complied with so as to authorize the issue 27 28 of such bonds; 29 NOW THEREFORE, the City Council and Board of Trus- tees of the City of Arcadia do ordain as follows: 30 3l 32 SECTION 1: That bonds of said City of Arcadia in -2- ~~c~A0_~/~ 1 2 3 4 5 6 7 8 9 10 11 12 . l3 z z - < Q - O~.JZ 14 w.c51l:: O.J III 0 III-...!: ::J<(.J-J 15 I-U)::!< U)>>u l&J1Il.( oOzz- 16 " > zo 0 " " Ze z :J< 0 17 0 ~ 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 - the sum of Forty-five Thousand ($45,000.00) Dollars be issued in accordance with the provisions of an Act of the Legislature of the state of California, entitled: "An Act Authorizing the In- curring of Indebtedness by Cities, Town,s and Municipal Corpora- tions for Municipal Improvements and Regulating the Acquisition, Construction or Completion the~eof", which became a law February 25, 1901 and all Acts or parts of Acts amendatory thereof and supplementary thereto and with the laws of the State of Califor- nia for Cities of the Sixth Class and with the Ordinances of said City, for the purpose of the construction and completion by said City of Arcadia of a certa.in municipal improvement, to-wit: The acquisition of Lots Nineteen (19) and Twenty (20), Block 74, Part of Arcadia, in the City of Arcadia, County of Los Angeles, State of California, as per Map recorded in Book 15, Page 89, Miscellaneous Records of said County and the construc- tion thereon of a Public Library Building. That said bonds shall be 60 in number; that they shall be designated as "Arcadia Public Library Bonds, 1929" and shall be numbered from 1 to 60, both inclusive; that 30 of said bonds, numbered from 1 to 30, both inclusive, shall be issued in the denomination of $1000.00 each and 30 of said bonds, num- bered from 31 to 60, both inclusive, shall be issued in the de- nomination of $500.00 each; that the principal and interest there of shall be payable in lawful money of the United States; that said bonds shall be dated January 1, 1929 and bear interest at the rate of five per cent perannum, payable semi-annually on the first day of July and the first day of January of each and every year, beginning July 1, 1929; that the principal and in- terest thereof shall be payable at the office of the City Treas- urer of the City of Arcadia, in the City of Arcadia, in the manner following, to-wit: One of said bonds of the denomination of $1000.00 and one of said bonds of the denomination of $500.00 -3- V'~~- ,z'/,Y' 1 2 3 4 5 6 7 8 9 10 11 12 . 13 z z 0 ~ . 03:.JZ 14 W 0:( ; 0:: O.J II 0 crt--w~ :l 0:( oJ.J 15 I- ~ : 0( V) > > U Wille ""zz- 16 a: > ZO 0 .. . z.. z ::J< 0 17 0 1 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 shall be payable on the first day of January, of each and every year, beginning January l, 1930, until all of said 60 bonds shall be fully paid . SECTION 2: That all of said bonds hereinbefore men- tioned shall be substantially in the following form: to-wit: No. UNITED/STATES OF AMERICA. STATE OF CALIFORNIA. CITY OF ARCADIA. ARCADIA PUBLIC LIBRARY BONDS, 1929,. (Amount) $ Arcadia, California, January 1, 1929. "On the first day of January, . (year of maturity) the City of Arcadia will pay to the bearer at the office of the City Treasurer of said City of Arcadia, in the City of Arcadia, California, the sum of $ , with interest thereon at the rate of five per cent per annum, payable semi-annually on the first day of July and the first day of January of each year, be- ginning July 1, 1929, at the office of the City Treasurer of said City of Arcadia, in the City of Arcadia, California, upon the presentation and surrender of the interest coupons hereto at- tached. Principal and interest payable in lawful money of the Uni ted States. This bond is issued in pursuance of the provisions of an Act of the Legislature of the State of California, entitled: lIAn Act Authorizing the Incurring of Indebtedness by Cities, Towns and Municipal Corporations for Municipal Improvements, and Regulating the Acquisition, Construction or Completion Thereofll, which became a law February 25, 1901, and all amendments thereto, authorizing the incurring of indebtedness by Cities for municipal improvements. .... -4- d~~-dJ,y 1 2 3 4- 5 6 7 8 9 10 11 12 . 13 z z - < 0- O:;:.JZ 14- W 0( :5 0: O.J II 0 a: I- lot ~ :Jo( .,J.J 15 f- III : <l: (/) > > 0 lilW';' II1lZZ- 16 " > zo 0 >- a: z>- z :J< 0 17 0 1 18 19 20 21 22 23 24- 25 26 27 28 29 30 31 32 It'is further certified that all requirements of the Con- stitution and Laws of the State of California and all Ordinances of said City of Arcadia have been fully complied with by the pro- per officers in the issuing of this Bond; that this issue of bonds has been authorized by the vote of two-thirds of the duly qualified electors of said City voting at the Special Election duly and. regularly called and held in said City on the 30th. day of October, 1928, at whicrh the propositl~ of authorizing this issue of bonds was submitted and that the total amount of this issue, together with all other indebtedness of said City, does not exceed the limit prescribed by the Constitution and Laws of the State of California; that provision has been made for the collection of an annual tax eufficient to pay the annual interest on this issue of bonds, and also such part of the principal there of as shall become due before the time for fixing the next gen- eral tax levy. IN WIT~ESS WHEREOF, the City of Arcadia has caused , this bond to be signed by the Executive of said Municipality, to-wit: the Mayor of and President of the City Council and Board of Trustees of said City and also by the Treasurer of said City, and to be countersigned by the Clerk of said City and the corpor- ate seal of said City to be affixed thereto and the said City has also caused the coupons hereto attached to be numbered con- secutively and signed by the Treasurer of said City of Arcadia. , Mayor of an President of the City Council and Board of Trustees o~ the Ci ty of Arcadia. /Ja4&~ Treasurer of the City of Arcadia. COUNTERSIGNED: Ai ~ Fu~ ~d). City Clerk of the Ci~y of Arcadia. -5- o.A/'h~/X./'/, &. :Z/9 1 2 3 4 5 6 7 8 9 10 11 12 . 13 z z - . 0- o~.Jz 14 Wo(51:l: o.Jlle a:: t- r.I- :l<.J.J 15 /-UJ=o( Vl >- > u ~~~~ 16 . > zoO z' · , z ::I. 0 17 0 1 18 19 20 21 22 23 24 25 26 27 28 29 SECTION 3: That interest coupons shall be attached to each of said bonds representing each installment of interest ac- cruing on such bonds up to the maturity thereof, which said cou- pons shall be substantially in the following form, to-wit: No. (Amount) On the firet day of (month of maturity) A. D. (year of maturity), the City of Arcadia promises to pay to the bearer at the office of the City Treasurer of the City of $ Arcadia, in the City of Arcadia, State of California, the sum of $ (Amount of interest) in lawful money of the United States, for semi-~nnual interest due on (Designa- tion of Bonde) No. is attached). (Number of bond to which coupon /:Ja/?cz45 Treasurer of the City of Arc dia. SECTION 4: That the Mayor_ of and President of the City Council and Board of Trustees of said City of Arcadia and the City Treasurer of said City are hereby authorized and directed to sign all of the said bonds and the City Clerk of said City is hereby authorized and directed to countersign said bonds and to affix the corporate seal of said City of Arcadia thereto and the City Treasurer of said City is hereby authorized and directed to, sign the interest coupons of said bonds and said bonds shall be delivered by said City Clerk to said City Treasurer in such amounts as the City Council and Board of Trustees of said City may from time to time determine and said City Treasurer is here- by authorized and directed to sign all of the interest coupons 30 of said bonds, by his lithographed or engraved signature. That the proceeds of the sale of said "Arcadia SECTION 5: 31 Public 32 ^ Library Bonds, 1929", shall be placed in the Treasury of said -6- Okd'?nanc.u.4J-,;1/ j? 1 2 3 4 5 6 7 8 9 10 11 12 . 13 z >: - < 0- o~.Jz 14 lLJ<;a:: OJalO a:1-1d~ :;, 0( .J.J 15 .... III = <( 0') >- > u Wid';' ot'l Z Z - 16 . > >: 0 0 >:" . " z :;)< 0 17 Q ~ 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 City of Arcadia to the credit of a fund to be known as "Arcadia Pub~ic Library Bonds, 1929" and shall be applied exclusively to the purposes mentioned in this Ordinance,to-wit: The construction and completion by said City of Ar- oadia of a oertain munioipal improvement, to-wit: The acquisition of Lots Nineteen (19) and Twenty (20) Block 7~, Part of Arcadia, in the City of Arcadia, County of Los Angeles, State of California, as per Map recorded in Book 15, Page 89, Miscellaneous Records of said County and the oonstruc- tion thereon of a Public Library Building. SECTION 6: That for the purpose of securing and providing for the payment of the principal and interest of said "Arcadia Public Library Bonds, 1929' there is hereby created a Fund to be known and designated as follows: "Arcadia Public Library Bonds, i929 , Interest and Sinking Fund"; that all the money .which from time to time shall be placed in said Fund shall be and is hereby set apart exclusively for the purpose of meet- ing all sums coming due for principal and interest on all of the aforesaid bonds, to-wit:uArcadia Public Library Bonds, 1929", which may be issued under the proceedings hereinbefore recited; that for the purpose of paying the principal and interest of said bonds, the City Council and Board of Trustees of said City shall at the time of fixing the general tax levy, and in the manner for such general tax levy provided, levy and col~t annually each year, until said bonds are paid, or until there shall be a sum in the Treasury of said City of Arcadia set apart for that purpose to meet all sums coming due for principal and interest on such bonds, a tax sufficient to pay the annual interest on such 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 herein required to be levied and collected -7- ~~. ::</y 1 2 3 4 5 6 7 8 9 10 11 12 . 13 z ~ < 0- 03;.JZ 14 W<:ill: (J.JlIlO 1r1-1II~ :J<(.J..J 15 f-(/)~< l/)>>u Wl&I-i. c(lZZ- 16 a: > ZO 0 e . Z e z ::l< 0 l7 0 I 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 shall be in addition to all o,ther taxes levied for municipal purposes and shall be collected at the time and in the same man- ner as other municipal taxes are collected, and shall be used for no other purpose than the payment of said bonds and accruing in- terest. SECTION 7: The City Clerk shall certify to the adop- tion of tnis Ordinance and shall cause the same to be published once in The Arcadia News, a weekly newspaper published and cir- culated in said City of Arcadia and hereby designated for that purpose and thirty days from and after the final passage thereof, the same shall take effect and be in force. The foregoing Ordinance was adopted at a regular meeting of the City Council and Board of Trustees of said City of Arcadia, held on the 21st. day of November, 1928, by the af- firmative vote of at least three Councilmen and Trustees, to-wit:' AYES: Councilmen and Trustees, BOlz, Granville, Holt, Multer and Schermerhorn, NOES: None, and signed and approved this 21st. day of November, 1925. aJl~ Mayor of and President of the City Council and Board of Trustees. ATTEST: gk~ City Clerk. State of California, County of Los Angeles, City of Arcadia. ) ~ ss. I, G. G. Meade, City Clerk of the City of Arcadia, do hereby certify that the whole number of members of the City Council and Board of Trustees of the City of Arcadia is five and that the foregoing Ordinance was passed and adopted by a -8- O~.#C;,?Z/? 1l , 1 2 3 4 5 6 7 8 9 10 11 12 . 13 z z - < 0- O~.JZ 14 W < :i 0: Q..J III ~ a:: I- I&l - ~ < .J...J 15 I- III : 0( U') >- > u Wid'; ~ Z z_ 16 " > zo 0 z>- " >- z :J< 0 17 0 ~ 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 " vote of all its members and approved by the Mayor of and Presi- dent of said City Council and Board of Trustees, at a regular meeting thereof, held on the 21st. day of November, 1928. ~~ ~"r:4. City Clerk of the City of Arcadia. ~ ~, ~ -9- c:/'~ no> ~J9' ...