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HomeMy WebLinkAboutOrdinance #174 Ordinance No. 174, An ordinance providing for the issuing` of; Ronde of the X City of Huntington Aeach, in the sum. of Twenty thousand fr Dollars , ( 20,000.00) for the purpose`of" the acquisition ` 1 , and construction of a Gas Distributing',System for the- of Huntington peach : California. Rhereas , the Board of Trustees of the pity of Runttngton Bea 3 at its regular meeting held on the F.ight�c day: of :.NovW)or, 1915, by a vote of more than two-thirds of its members, dul*/ paeaad ILM 4. adopted a resolution determining that the publio interest and 6 necessity of the city of Buntington Reach, demanded the aaquisith1j construction and completion of a certain munioipal imj; rovexent 4 wit : 6 to- ., 5: The acquisition,-construction and completion`of a gas distft ing system, to be owned and controlled by the city of .Huntington 7 Peach, and determining that the estimated cost of such:Improveaent 8 is .the sum of Twenty thousand ((20,000.CO) Dollars ind".that such cost is and will be too great do be paid out of the":ordinary rev anus of Cald city of Huntington ?each; which resolution.`was,lon 9 the said 8th day of ;lovecber, 1915) duly approved by hs Chief Executive officer of said city, to-wit : The Prom ident e.of the Board 10 of Trustees of said city of Huntington Aeach and the said Roard of Trustees of said city of Huntington.`Beach, .did there : li aft or , at it s regular meet ing on the 29th day, of Noveaberl .1915,; 12 by a vote of four-fifths of all its members , duly-pass and adopt an ordinance calling a special election to be held.iux the sp d 13 city of Huntington peach on the 28th day of December,' 1915 `.sub.• :: mitting to the qualified voters of said city the proposition of 14 incurring debt and issuing bonds for the purpose set forth in said resolution, to-wit: 11he proposition of incurring' debt and 16 issuing bonds inrth® spm"rof:.Twenty thousand Dollars : ( 20,GG0.06 for the purpose of acquiring , constructing and compfsting a gas �', 16 distributing systeu and apurtenances thereof, to be ==owned and coa_ trolled by the said city of Huntington ?each and whereas the said 17 Ordinance calling the said election was duly and regularly publisIdl, once a week for two successive creeks in the Huntington Reach Xt'!sIj ? 18 a newspaper published less than six days a week in the city of Huntington ueach; and whereas such special election was duly.-and'= 19 regularly held in the city of Huntington Ree_ah on the. 28th dap of December, 1915, as provided by said Ordinance calling the sate atd 40 by the laws of the state of California, and more than two-thirds; of the qualified voters voting at such election voted in favor 4f, 21 incurring said bonded debt herein before Lontioned and, whereas:." at its regular misting held on the third day of January) 1916, e 24 the Roard of Trustees of said city of Huntington Beach , duly and` regularly canvassed the vote cast at such speoiii' election,and 23 caused the result of such canvass to be entered Cn the a�inutes of said Board , and , whereas all and singular of the provisions of 0ei 24 Act of the Legislature of the state of California entitled,"An Act authorizing the incurring of indebtedness by Cities, towns and municipal corporations for municipal improvewentt and regulating I the acquisition thereof which became a law February.. 25th, 1901,<. l . 26 and the laws of the state of California and Ordinanee of said cit bearing thereon being fully Complied with so as to authorize t.he:' 27 said bonds and each and all of said bonds; Now therefore the Board of Trustees of the city of Iluntingtoa; . 48 Aeaoh do ordain as follows : 29 Cection 1, That 9onds of the cityofHuntington i n n toneach in the sum of Twenty thousand Dollars , (�2G,G u O.GO) be issued�in accord- 801,anos with the provisions of the act of the legislature of th:l state' Of California entitled, "An act authorizing the incurring of in- °' ' 81 debtedness by L; Cities , Towns ,and Municipal Corposations for mum nicipal improvement and regulating the acquisition, oonstruction 82 and Completion thereof" which became a law February 25th , 1901s { fi (2�. 2 ,nnd"with the "laws of the state of.�-California- an&the 4rdinanoes of ` eaifl=city boaring thereon; fora the purpose of acquiring , oonst rust n nand comp let in a as dist`ribut in ® st ei t,o eth" r with the - completing g g y g appurtenances thereof, to be owned, operated and controlled by said-City; said bonds of the pity of, Huntington Beach shall be 1esi xiated' "Gas Bonds of the City;of Huntington-Beach" and shall be issued I :the,, following denomination y'ortp Songs .of,,the denomination-"of ,Five hundred Dollars each," and tht`prinoIpal and interest thereof shah be -pay bl® in gold co n of .th*­Vnited" States; all bonds shall tie serial in=,character and. 4 6 he numbered consecutively from An® 1} o tart ( y" (4t } both nun -bore .inolueivm,' thee 'they shall, be.datad arch ` t ; .1916,: and bear- the .rate of yive: percent ,annusib 'payeble eewi- 7annually ;on "the firs*, day of September :and the first "flay .of March : of. each 9eQinning °on th® first da :'of March :1817; and�theres�fter on R the .first day: of Maroh of each succeeding year, ;twa bf .said bands �in :consecutive numerical order :shall be made payable at the office 14 ✓df, the City..Vreisurer of said city tog6thwr with. interest on all { 4 sums,,unpaid at said date until &11 od said "bonds "shall have been: , 11 aid. Said Sortp bonds, shall be :substantiAlly yin 'the following oxe+';` to®grit m F tom`' 1 .,... United States of America, -State of,"California, 24 City of Huntington Reach, Gas Bond of the city of Huntington Beach, California. 16 500.ao Huntington 139achp California, March. Is -19186 18 On the dap of Am Da the. city' of Hunting on sac , alifornia, r 11 py" 'be"area, at the offSco 27 of the City Treasurer in said city, the "sum of Five hundred Dollars #500.00) with interest thareon at ,the rate of Five per- cent (5 } per annul,, payable aeti annually `on the: first day of 1� Coptamber and the first day of. Ho.rchi of each year.at the office of -the City Treasurer upon presentat ion and 'surrender of the interest: coupons hereto attached, prinoipal and interest pay- able in old coin of the United Ststoe, �2 'oh s bend is issu®d in persuando of an act{,of the Lsgisla� rt tutu .of the;stat® of Callfornira whioh beoatue a' law February 25th 1401 , authorising the incurring`'of indobt�edrjess' by' cities for ® municipal improvement . It is further certified that all the roquirements of law and of the ordinances of this. city of Huntin - ton fleach have been fully oomplied-with by` the: proper officers � in iseuing, of this bond; that this issue of bonds has been autho ixed by a vote of more thna two-thirds of the duly qualified oleotors of, said city voting on the question of such issue at a-s eci�al election duly and regularly held in saidcity on the r 48 26 .day-,.of Deoember' 1916) and that the total amount of this is�ue tiogether.with a22 ether indebtedness of said city does not ex- oeed'the lis►it prescribed by the constitution and the laws of 49 th s; st ate of;Cal i f orni a . a% `�itnes®'whereof the said city of fu'ntingt�on Reach by its Board of-Trustees,' has &ivsn this bond to be. signed by the 4 President of its -Board of. Trustees -,is Exooutivs of said municip aliiy anc9 "miss;by:-,its treasurer :theraof and aquritesined by the City Clerk thereof. an6' the,'corpar&ta soal of"the" city of Huntington '�0 Aaach"to' W,-hereuntio'`affixed and the attached co�zpo�ns to be signed by the Treasurer of the city of fiuntington Beach this �1 first day of March, 1016, R, I �'u ra Preafd®nt if tSo'Bo' d~af Trustsa0 2 of the city. of xuit iztgt dA -Be _ Califon a 3 fi'reaeuzer of tFa cI'ty cFf 1r. Huntin®ton Beach , Calif. x: 4 Countersigned, HAX 6 1 -c I*e-k-rei-z'f n ni Clerk of the Board of Trustees of the � 7 city of .Huntington Beach, Califs $ That coupons shall be attached to aach of said, forty bonds 9 for the interest accruing thereon and said Coupons shall be substantially in the following form, t0-w it::' 10 "On the first day of 19 the; oity of ^Huntington Beach promises to pay to t i# a Tearer at.:,tht offioa of the 11 Treasurer of the city of Huntington Beach;Y the sux eP Dollars in gold coin of the United- Stites," the semi-i-WIL Interest due on Gas Pond of the City oY xuntington Beach, 12 California, No. f 13 Treasur®r o the �ity'o �,� v , 14 Hunt i nit on,;Beach, 'CaliP.w 15 Section Z, That the . President of the Board of Trustees and Treasurer of said c:My are hereby authorized°hnd...direct ad i5 to sign all of said bonds and the City Clerk ..of:,oaid`;I`oity;to •,� i . countersign the same and said bands shall bo dolivered by said 17 City Clerk to said City Treasurer in such Amounts as -the said Hoard of Trustees may from time to time detorminq; `land said Treasurer is hereby authorized and directed°;to: sign all of the 18 - interest coupons of said bonds as aforesaid'by his lithographed 19 or engraved or printed signature. 20 Section 3 , That the proceeds of the sal® "at said ass Bonds of the city of Huntington Beach, California,. shall be placed in 91 the Treasury of said city to the credit of. the-,Fund to be desig nated and known as the Gas Fund and shall be applied exclusively *` 22 to the purpose and object in this ordinance , to-Nit ; the purpose of acquiring , constructing and extending a gas distributing systs 23 in said city. J 24 Section 4, That for the purpose of securing and providing k for the payment of the principal and interest of thesaid Gas Bon . 25 of the city of Huntington Beach , California,' there is hereby or-ated a fund to be known as the "Sinking Fund for the payment Of GasAonds of the city of Huntington Beach and the interest a rest 28 thereon." That all the money which shall from tiros to time be 87 placed in said fund shall be and is hereby set apart sxolusivelf 'f for the purpose of meeting all sums coming due 'for principal and 28 interest on all of the aforesaid bonds which may- be issued under $E the provesdings herein before recited . That for the purpose 29 of paying the principal abd interest of said bonds the Board of Trustees of said city shall at the time of fixing the general tax .80 levy and in the manner for said general tax leery providad, levy and collect annually each year until said bonds �ars paid, or 81 until there shall be a sumin the Treasury of said city set apart for that purpose sufficient to meet all .sums' coming due for 84 principal and interest on said bonds , wtax sufficient to pay the annual interest on such bonds and also :suoh part of the ate, h r e n r c y F pr;incipi thereof as shall become due ba.foro the ties of fixing �the next "general. tax lovyr Said :Tad sh .11 be in; additi®n to , . a l tither .taxes . ovied .for municipal purposes°aad;:shalf bo• _. coliectodt the- saws tine andin"'the:'sau,s tanner;>as other { 8 �rtrxsiunicipaS taxes are :aalloctmd and :farthr ith, `aa C.olleCt�d, shall �r : be turnod. ovart:t and be :put into the said ,"Sinking ''Fund" �43 4 4 =beere.'mentioned; and shall be used:f®r ne other purp©tie than _ Y the p�.gmont nt said -bonds and accruing intero_at. a � M Sectiart 5 ThAt the prapgsed'iadobtedness ®t Twenty -thou r, Q £� sand .Ik►llara, aO OOO.00) fnr sitiid` Cao 'bistribut ng &ystow-as �f {�evidenoed by said R©nds in, the: aggro gate; sum 4f Twenty thousand = #xf)ollars ( 2O,bO0.C4) in additist� te';.all `other;-, Me 'tedness in- ry �=,,burred by-said `city for municipal' iapronement's will`not iri'the ' 8 ag$reg te•'excaad Fi%taon f the asaeaeed valuation Z ' a:of the"roa.l and°.;poroenal property, ®P the .tit ei Huntington YW 5 � r 8eadh� Caliioitia. Ib y 8ecticin 6 x} The Cit Clerk:di: said" dity is ,horobe instruct d , � a r h � tnp. e 3 *., t® advertise %or sale all sf'. said gasi bonds :,of the city of ;, X i ,Huntington ' each at ;;not less than their; par.value'a,nd accrued ' " interest thereenand to require- a ce_rtifiod Check of Five:portent, the; am®unt of thewbid 'from each ;person pre®anting s-soal` d `s' bid f d r;the.:•`purchasa.` of said bonds .according to-the not ids t® be: rr .: 18 hars aft 6vpub11shad effarin -said _bands for.sala. 'fihelPoard of heraby'iutharixed�to..eell, said ,?onde in allotmanta 14 s-r yap:;=reaervo apart 9d:`said :bands- for nature eels: as 'aaid ' oa`rd ,sap doter1hina is said n®tic® to be hereafter published by 15 the said City Clark.: Sr18 �P }"A ;ectima !�, Tha Citq Clerk of the `oity 'of KuntinQt®n 3oath �b ta11 £cart l ty t o the passage;and.:adopt ion of• thie;,Ordinance 17 ;s=and shall• cause;;the,_sane;:ta'Ve pt�blishad ®ncf in ,en® regular . I8 _71isatis ot ..ths Runtingtan 'Beach•Nsws, a woekly sew paper';printed and published `in the said city ®% Huntington Beach, and upon . suoh ;publicat iah and the- 4xpi rat isri of thirtp daps there or :saae_ghall>' ake offsot and n 40 YBection $, All Ordinances or parts of Crdinancos in c©n- iH ;•, 41 flirt with this Ordinancs are hor`by ropsaled. f FresTdont o%'"Xo ®ard o rueteea o% the city :of"'Huntizigton beach, CfiAB. R. NUTT, California, 24 At test Z'6, �larF:.anT ex::*Tf ado C�Ark of mard of Trustees of the Huntington Aeaoh, .Cali%. ' £3tate of C.413farnia, County of Orange , City of 'u;►� in ;ton "? 8�.:h. $7 }�. Autt , Citlr Glirk.and ex-officio lark of. the A k +eard of 'ruoteea of the oit"y of S�ur�tingtc�r Beach �ic� hretiy �r�- f 4 g8 that ►e .,torsgoiag ardinante No i174,. waa re al to thm oar:3 f rusteee ®x` sai'd r :'s;eetn"g . of said n.oardl on. she gb ",'Ii516 ,' �i' th da oi�; ugust , trid .:that ttie. size sear passe i and dry;=t .� nerd held r the "5rd day of Au.--uaU " tilt a #OU ar moat i t 'of siiei 80loa iqi Vol, � h 4 A atse,r Rust sn, Chs.pl.a,-a'Tax!��sic,. flels=o $1 °Noes �n j Abeent oker, {l t y ) eVi]•it ( , r1 , It �p ti§{ al ylWw . -. mint,n t 2? Calif .