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HomeMy WebLinkAboutOrdinance #331 - I r ORDINANCE NO. ` AN ORDINANCE OF THE CITY OF HUNTINGTON BEACH, PROVIDING FOR THE TMNG OF BONDS OF THE CITY OF HUNTINGTON BEACH AS AUTHORIZED AT A SPECIAL MUNICIPAL ELECTION HELD IN SAID CITY ON TUES- DAY THE 18TH DAY OF FEBRUARY, 1930. I f I WHEREAS, the City Council of the City of Huntington Beach, at a regular.. adjourned meeting thereof held on the 16th day of December, 1929, by a vote of more than two-thirds of all of its members duly passed a resolu- tion determining that the public interest, and necessity demanded the acquisition, construction and 'completion by said City of Huntington Beach of the following municipal improvements . and each of them, to-wit: i i "(a) RECONSTRUCTION OF VHARF: The acquisition, construction and completion of a municipal wharf, together with such I equipment and appurtenances as may be necessary or . con- venient to the use thereof; said wharf to be so con- structed and completed as to include such portions- as may be suitable therefor of the present wharf now ex- tending into the Pacific ocean from the termination of Main Street in said City at the coast line of said ocean. i 11(b) EXTENSION OF WHARF: The acquisition, construction and j completion of a municipal wharf, together with such equip- ment and appurtenances as may be necessary or convenient to the use. thereof; said wharf to extend into the Pacific i ocean a-dtstance of five hundred (500) •feet from the out- er end of the municipal wharf now extending into thePacif- ic ocean from the termination of fain Street in said City !. at the coastline of said ocean.n AND WHEREAS, said Resolution was approved by the Mayor of said City and = attested by the City Clerk and ex-officio Clerk of said City Council on I the said 16th day of December, 1929; ANDJHEREAS, thereafter at a subsequent meeting of the said City Council, ! to wit-: on the 6th day of January, 1930, there was introduced and read to said City Council Ordinance No. 330, which said Ordinance was there- after -at• a regular adjourned meeting of said City Council held on the I i 13th day of January, 1930, by a vote of more than two-thirds of all its members duly and r.e.gularhy passed and, adopted, which said Ordinance i 1 r I called a Special Election to be held in said City of Huntington Beach, t County of Orange, State of California, on the 18th day of February, 1930, f -for the object- and purpose of submitting to the qualified voters of said City the propositions hereinabove set forth as having been mentioned in said Resolution adopted- on- the-16th-day--of December, 1929; AND WHEREAS, said Special Municipal Election was held in said City on the 18th day of February, 1930, as provided in said' Ordinance calling same and by law for holding municipal elections in said City,and said propositions of incurring bonded indebtedness hereinbefore mentioned each received the favorable vote of more than two-thirds of all the voters voting at said election upon said propositions; AND VEEREAS, all and singular, the provisions of an act of the Legislature j of the State. of California, entitled «An Act Authorizing the Incurring of k Indebtedness by Cities, Towns and Municipal Corporations for Municipal Im- provements and Regulating the Acquisition, Construction. and Completion thereof}l, which became a law February 25, 1901, and the, Acts Amendatory thereto, and the laws of the State of California governing cities of the I sixth class, and all Ordinances of said City of Huntington Beach_ have been fully complied with so as to authorize the issuance of said bonds; I NOW, THEREFORE, the City Council of the City of Huntington Beach do ordain as follows: . I SECTION 1. That in- accordance with the provisions of an Act of the Legislature of the State of Califorbi entitled, "An Act Authorizing the i Incurring of Indebtedness by Cities, Towns and Municipal Corporations for Municipal Improvements and regulating the *Acquisition, Construction and Completion thereof", which became a law February 25, 1901, and the Acts Amendatory thereto and supplemental thereto, and the laws of the State of i California governing cities of the sixth class, and the Ordinances of said i City of Huntington Beach that bonds of said City of Huntington Beach in the sum of $60,000.00 be issued for the purpose of the acquisition, • - 2 - � I i I construction and completion by said City of Huntington Beach of a cer- tain municipal improvement, to-wit: (a) RECONSTRUCTION OF WHARF:' The. acquisition, construction and completion of a municipal wharf, together with such equipment and appurtenances as may be necessary or con- venient to the use -thereof; said wharf to be so con- structed and completed- as to include. such portions as may be suitable therefor of the present wharf now -extend- ing into the Pacific ocean from the termination of Main Street in said City at the coast line of said ocean. And that bonds 6f said City of Huntington Beach in the sum of $622 000.00 be issued for the purpose of the acquisition, construction and completion i by said City of Huntington Beach of a certain municipal improvement, to- wit: - I i (b) EXTENSION OF WHARF: The acquisition, construction and completion of a municipal wharf-, together with such equipment.,and appurtenances as .may.. be necessary or con- j venient to' the uset}hereof; said wharf to extend into the Pacific ocean a distance of five hundred (500) feet 1 from the outer end of the municipal wharf now extending into the Pacific ocean from the termination of fain Street in said City at the coast line of said ocean. I That said bonds to be issued for the acquisition, construction and com- pletion of the municipal improvement, to-wit: (a) RECONSTRUCTION OF WHARF, shall be sixty (60) in number; they shall be designated as "Huntington Beach Municipal Wharf Bonds 19301T and shall be numbered consecutively from 1 to 60 both inclusive; that said bonds shall be in a denomination of One Thousand Dollars ($1,000.00) each, and the prin- ct5al and interest thereof shall be payable in lawful money of the United States; that said bonds shall be dated the lst day of March, 1930, and shall bear interest at the rate of five (5) per cent per annum payable semi-annually on the lst day of September and the 1st day of March of each and every year, interest payments beginning on the 1st day of' Sept- ember, 1930, and continuing until the full amount of principal and in- terest shall have been paid; that the principal and interest of said bonds shall be payable at -the office of the City Treasurer of the City \ of Huntington Beach, California, in the following manner, to-wit: Said sixty (60) ,bonds numbered 1 to 60 both inclusive, shall be payable as follows: 1 - 3 - i+ ' i , I i Bonds numbered 1 to 4 both inclusive shall be payable March -11 1931. _ Bonds numbered 5 to 8 both inclusive shall be payable March 11 1932. Bonds numbered 9 -to 12 both inclusive shall be payable March 12 1933. Bonds numbered 13 to 16 both inclusive shall be payable March 11 1934. Bonds numbered 17 to 20 both inclusive shall be payable March 11 1935. Bonds numbered 21 to 24 both inclusive shall be payable March 1, 1936. Bonds numbered 25 to 28 both inclusive .shall be payable March 1, 1937. Bonds numbered 29 to 32 both inclusive shall be payable March 11 1938. . Bonds numbered 33 to 36 both inclusive shall be payable March 10 1939. I ' Bonds numbered 37 to 40 both inclusive shall be payable March 11 1940. Bonds numbered 41 to 44 both inclusive shall be payable March 12 1941. Bonds numbered 45 to 48 both inclusive shall be payable March 1, 1942. Bonds numbered 49 to 52 bath inclusive shall be payable March -1, 1943. Bonds numbered 53 to 56 both inclusive shall be -payable March 1, 1944. Bonds numbered 57 to 60 both inclusive shall be payable March' l, 1945. And said bonds shall be substantially in the following form, to-wit: No. UNITED STATES OF AMERICA STATE OF CALIFORNIA CITY OF HUNTINGTON BEACH HUNTINGTON BEACH MUNICIPAL WHARF BONDS 1930 $19 000.00 i Huntington Beach, California March 1,, 1930 On the first day of .March, A.D. (year of maturity) . the City of Huntington Beach, California, will pay to the bearer at the_ office of the City Treasurer of said City of Huntington Beach, in the City of Hunt- ington Beach, California, the sum of One Thousand Dollars ($1;000.00) with interest thereon at the rate of five (5) per cent per annum, parable semi- -annually on the 1st day of September and the lst day of March of each year., interest payments beginning September 1, 1930, at the office of the City Treasurer of said City of Huntington Beach, in the City of Huntington Beach, California, upon the presentation .and surrender of the interest coupons hereto attached. Principal and interest payable in:. lawful money of the United States. This Bond is issued in pursuance- of the pr yisi©ns of an Act of the Legislature of the State of California, which became a law February 25, 1901, and all amendments thereto, authorizing the incur- ring of indebtedness by cities for municipal improvements. It is further certified that, all requirements of the Constitution ,and Laws of the State of California and all Ordinances of said City of Hunting- ten Beach have been fully complied with by the proper officers in the ; issuing. of this Bond; that this issue of Bonds has been authorized by a vote of more than two-thirds of the duly qualified voters of said City voting at a Special Municipal Election held in said city on the 18th day of February, 1930, 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 before or at the time of incurring the indebtedness evidenced hereby, provision has been made for the collection of an annual tax sufficient to pay the in- terest of such indebtedness, as it falls due, and also' a provision to con- stitute a sinking fund for the payment of the principal thereof on or before maturity. IN 4JITNESS WHHEREOF; the City of Huntington Beach haacaused this Bond i to be signed by the Executive of said municipality, to-wit: the .Mayor of r said City, and also by the Treasurer of said City, and to be countersigned - 4 - i by the Clerk of said City and the corporate seal -of said City to be affixed thereto and •the said City has also caused the coupons thereto attached to be numbered consecutively and signed by the Treasurer of said City of Huntington Beach. Mayor 'of the' City of Huntington Beach, California" Treasurer of the City of Huntington Beach, California COUNTERSIGNED: City Clerk of the City of Huntington Beach, California (( SEAL )} (of the City of Huntington Beach, California) SECTION 2. That interest coupons shall be attached. to each of said sixty (60) 'bonds representing each installment of interest accruing on said Bonds ' up to the maturity thereof, which said coupons shall be sub- i stc.ntially in the following form, to-wit: I No. i (amount) On the first day of , 19 _(date__installment i of interest is due) the. City of Huntington Beach, California, "promises to pay to the bearer at the office of the City Treasurer of the City of Huntington Beach, in the said City of Huntington Beach California, the sum of (amount of interest3 in lawful money of the United States, for semi-annual interest due on the t{Huntington Beach Municipal- Wharf Bond 1930 No, n (number of bond to. which coupon is attached) . Treasurer of the City of Huntington Beach, California SECTION 3. That said bonds to be issued for the acquisition, construct- i ion and completion of the municipal improvemeh ,to-wit: (b) EXTENSION OF - 5 - � 1 WHARF, shall be sixty-two (62). in number; they shall be designated as "Huntington Beach Municipal Wharf Extension Bonds 1930" and shall be ( numbered consecutively from 1 to 62 both inclusive; that said bonds - shall be in a denomination of One Thousand Dollars ($1,000.00) each, and the principal and interest thereof shall be payable in lawful money of the United States; that said- bonds shall be dated the lst day of March, 1930, and shall bear interest at the rate of five (5) per cent .per annum payable semi-annually on the lst day of September and the lst day of March of each and every year, interest payments beginning on the lst day of September, 1930, and continuing until the' full' amount of principal and interest shall have been paid; that the principal and interest of said bonds shall be payable at the office of the City Treasurer of the City of Huntington Beach, California, in the following manner, to-wit: Said sixty-two (62) bonds numbered 1 to 62 both inclusive, shall be payable as follows: Bonds numbered 1 to 4 both inclusive shall be payable March 1, 1931. Bonds numbered 5 to 8 both inclusive shall be payable -March 1, 1932. Bonds numbered 9 to 12 both inclusive shall be payable March 11 1933. Bonds numbered 13 to 16 both inclusive shall be payable March 10 1934. Bonds numbered 17 to 20 both inclusive shall be payable March 11 1935. Bonds numbered 21 to 24 both inclusive shall be payable March 11 1936. Bonds numbered 25 to 28 both inclusive shall be payable March 1, 1937. Bonds numbered 29 to 32 both inclusive shall be payable March 11 1938. Bonds numbered 33 to 36 both inclusive shall be payable March 1, 1939. Bonds numbered 37 to 40 both inclusive shall be payable March 1, 1940. Bonds numbered 41 to 44 both inclusive shall be payable March 1, 1941. Bonds numbered 45 to 48 both inclusive shall be payable March 1, 1942. Bonds numbered 49 to 52 both inclusive shall be payable March 11 1943. Bonds numbered 53 to 56 both inclusive- shall be payable March 12 1944. Bonds numbered 57 to 62 both inclusive shall be payable March 11 1945. And said bonds shall be substantially in the following form, to-wit: No. UNITED STATES OF AMERICA STATE OF CALIFORNIA CITY OF HUNTINGTON BEACH HUNTINGTON BEACH MUNICIPAL WHARF EXTENSION BONDS 1930 $1,000.00 Huntington Beach, California �J March 1, 1930 On the first day of March, A.D. (year of maturity) the City of Huntington Beach, California, will pay to the bearer at the office of the City Treasurer of said City of Huntington Beach, in the City of Hunt- ington Beach, California, the sum of One Thousand Dollars ( 1,000.00) with interest thereon at the rate of five (5)per,:cent per annum, payable I - 6 - semi-annually on the lst day of September and the' lst day of March of each year, interest payments beginning September 1, 1930, at the office of the City Treasurer of said City of Huntington Beach, in the City of Huntington Beach, California, upon the presentation and surrender of the interest coupons hereto attached. Principal and interest payable in lawful money of the United States. This Bond is issued in pursuance of the provisions of an Act of the Legislature of the State of California, which became a. ' law February 25, 1901, and all amendments thereto, authorizing the incur- ring of indebtedness by cities for municipal improvements. It is further certified that all requirements of the Constitution and Laws of the State of California and all .Ordinances of said City of Hunting- ton Beach have been fully complied with by the proper officers in the issuing of this Bond; that this issue of Bonds has been authorized by a vote-,of more than two-thirds of the duly qualified voters of said City voting at a Special Municipal Election held in saJd City on the 18th day of February, 1930' 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 before or at the time of Incurring:' the indebtedness evidenced.`hereby, provision has beenmade for the collection of an annual tax sufficient to pay the in- terest of such indebtedness, as it falls due, and also a provision:: to con- stitute a. sinking_, fund for the payment of the principal thereof on or be- fore maturity. IN WITNESS WHEREOF, the City of Huntington Beach has caused this Bondi to be signed by the Executive of . said municipality, to-wit: the Mayor of said City, and also by the Treasurer of said City, and to be countersigned by the Clerk of said City and the corporate seal of said City to be affixed thereto and the said City has also caused the coupons thereto attached to be numbered consecutively and signed by the Treasurer of said City of Huntington Beach. Mayor of the City of Huntington Beach, California Treasurer of the City of Huntington Beach, California COUNTERSIGNED: City Clerk of the City of Huntington Beach, California ( ( S E A L )) (of the City of Huntington. Beach, California) (77) SECTION 4. That interest coupons shall be attached to each of said sixty-two -(62) bonds representing each installment of interest accruing on said bonds up to- the maturity thereof, which said coupons shall be substantially in the. following form, to-wit: _ 7 - i i I No. (amount) On the first. day of , 19 (date installment _ of interest is due) the City of Huntington Beach, California, premises to pay to the bearer at the office of the City Treasurer of the City of Huntington Beach, in the said City of Huntington Beach California, the sum of $ (amount of interest j in lawful money of the United States, for semi-annual interest due on the nHuntington Beach Municipal Wharf Extension Bond 1930 No. " (number of bond to which coupon is attached) . -t - - - Treasures of the City of Huntington Beach SECTION 5. The Mayor of said City of Huntington Beach and the Treasurer of said City are hereby authorized and directed to sign all - of said bonds, and the City Clerk of said City is hereby directed to countersign and to affix the corporate seal of said City to all of said sixty (60) 1THuntington Beach Municipal Wharf Bonds 193011 and to all of i said sixty--two (62) "Huntington Beach Municipal Wharf Extension Bonds � 193011, and the said Treasurer of said City is hereby directed to sign the interest coupons on all of said bonds, and said bonds shall be de- livered by said City Clerk to said City. Trea-surer in such amounts as the City Council of said City may from time to time determine; and the said City Treasurer is hereby authorized and directed to sign all the interest coupons by his lithographic printed or engraved signature. SECTION 6 . - That the proceeds from the sale of said "Huntington Beach Municipal Wharf Bonds 1930" shall be placed in the treasury of said City to the credit of a fund to be known as 111930 Wharf Fund1l; and the pro- ceeds from the - sale of said "Huntington Beach Municipal 'Wharf Extension Bonds 193011 shall be placed in the treasury of said City to the credit. of a fund to be known as 111930 Wharf Extension Fund", and such proceeds shall be applied exclusively. to the purposes mentioned for which the same were voted and issued. - 8 - j y SECTION 7. That 'for the purpose of securing and providing for the principal and interest 'of the said Huntington' Beach Municipal Wharf Bonds 1930 there is hereby created a fund of said .City to be known as f►1930 Wharf Interest and Sinking Fundtt and also for the purpose of ` creating and providing for the principal and interest of said Hunting- ton Beach Municipal Wharf Extension Bonds 1930 there is hereby created a fund of said City to be known as "lb30 Wharf '.Extension Interest and Sinking Fund.rl That all money which shall from time 'to 'time be placed in said funds shall be and is hereby set apart exclusively for the pur- pose of meeting all sumscoming due for principal and interest of all of said bonds which may be issued under the proceedings here'inbefore recited; that for the purpose of paying the principal and interest of said Hunting- ton Beach Municipal Wharf Bonds 1930, and said Huntington Beach Municipal Wharf Extension Bonds 1930 and each of them, the City Council 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 collect annually a tax sufficient to pay the interest of such indebtedness upon-each of said bond issues as it falls due, and also to constitute a sinking fund for the payment of the principal thereof on or before maturity. -Said tax shall be levied for each of said issues of bonds and shall be in addition to all other taxes levied for municipal purposes and shall be collected at the same time and in the same manner as other municipal taxes are collected, and forthwith as' collected shall be turned over and paid into the funds provided there- for and be used for no other. purpose than the. payment of said bonds and interest thereon, SECTION ,B. The City Clerk shall certify to the passage of this Ordinance and' shall cause the. same to be published by one insertion in the Huntington Beach News, a weekly newspaper of general circulation printed and published in said City of Huntington Beach and hereby designated for that purpose. II 1 This Ordinance shall take effect and be in' force from and after the - 9 - a passage ' ther.eof. The foregoing Ordinance was passed and adopted at_ a regular -- meeting of,the said City Council of the City of Huntington _r Beach on the day of , 1930, by the following vote, to-wit: AYES: Trustees /I;P�_ NOES: Trustees - ABSENT: Trustees Mayor of the City of 7 - Huntington Beach, California ATTEST: City Clerk and'ex-officio Clerk of,'the -City. Council of the City of 'Huntington Beach, California i i 10 - i i