HomeMy WebLinkAboutCity Council - 286A RESvLUTTO" ITO. 2�56
A resolution Providing; for 'J e Issuance , Sale
and Reder otion of Bonds of the CitIr of Huntin£ ton
7:each, California , to the r ount of 20 000. 001
for the Purpose of the Acquisition and 6onstruct-
ion of a Systesl of Gays Pipe Lines , PIains, Laterals,
T, eters and Attachments, for t1he Distribution and
Su~p-ply of Gas in said City, in Accordance with and
as Aut lorized at a Snecia.l Election held in said
City on the 28th da,y of December, 1915.
Z-thereas, a Tecia.1 election was held on the 28th day of
December, 1915, in the City of HuntinEton Beach, California, in
accordance with provisions and, reo irements of Ordinance o. 166
of the said City, calling, providing; for and �7,;iving notice of said
election, reference to said Ordinance for further particulars
being here made and,
? herea.s, it has been determined by a Hesolution of the Board
of Trustees of said City, - do-oted- January 3rd, 1916, ( reference
t1-ereto for furtr-.er octrticulars being, here made) that more than
two-thirds of the votes east at said special election -,ere cast and
counted as bein`,° in favor of and authorizing; the incurring; of a
bonded indebtedness of said City for the .purpose and to the amount
therein stated;
VTow Therefore , the Board of Trustees of said City of
Huntington Be:p.ch do resolve as follows:
Section 1. That bolds of the City of Huntington Beach,
California, will be issued in accordance with the result of the
sT)ecial election held in said. City of the 28th day of December,
1915, and in compliance with the statutes of the State of Cali-
fornia, and the Ordinances and Resolutions of said City, to the
amount of20,000.00, for the acquisition and construction of a
c
municipal improvement in said City of Hunting tonBeach, to.rit:
a. system of Gas �pi-,oe lines, rains , laterals , meters attach-
ments, for . Pjad
the distribution and suoply of gas in said ' ty,and
includin,--,; all other alp-,Oaratus an."t ap )liances necessary and ,-roner
for receivin,-7' gas et- a source of suxply in the City of
Peach, an,-, to transmit and. distribute the same to the inhabitants,
11-- 0 f or t- �,q Of 11-ht and
;public buildin,,�-:,,s and '-)l��ces t_re., f ) ne nurDose,
heat; bo'.,a-ds sh,-111 be celled "Gas Distributing System Bonds",
and shall be �-orth inclusive, -nd shall e�;.ch be for the -orincinal
sun, of rnd tl,7iro of sai,,_,'_ bonds, beginninr, Y-rith the loivest
numbers and continuinL,, consecutively, shE?1-,,- be pe-,yable each year
on the first day of :;.arch, comr.-ieilcing on the first day of !.,.-,arch,
1917; and tv!o of s,rid bonds shall thereafter be paid each year in
successive numerical order, until all of said bonds shall- have
been paid.
All of Ssid bonds , as herein provided, shall be of the form
and character knoT7n as Serials. All of said bo,n(fts s1ia,ll be dated
Larch lst, 1916, and shall bear interest at the rate of five per
cent. Der anniuri, payable semi-annually, that is , on the first day
of Se-otelilber and the first d,�-.y of .'arch of each year until the
maturity thereof and the Drinci-pal Pi-,,d interest-of all said bonds
shall be in Gold Coin of the United States at the office
of tI,.e Treasurer of said Citir of Hu_,-.t--inc,,ton Beach
Section 2. Said bonds shy-�.11 be signed by the executi~;e
1 of sai(5.. City, he being.; U-e President of tlae Bocrd of Trustees of
said City, and by the Treasurer of said City, and sha-_;_l be counter-
signed by the City Clerk of said City, and the seal of sr,'Ad City
shia] ` be a-l-l"ixed thereto; said_ bonds shal-i be substantially in the
.L I I _L
followinc form:--
U17=-ED STATES OF ALERICAt
STAT'E] OF CAL TFORITIA,
City of Huntington Beach.
GAS DIST-7-tIBUTINTG SYST= M"D.
7,110. $500.00
For value received, the City of Huntington Beach,
California, a municio&l corporation organized and ex-
isting under the laws of the State of California, here-
by acknowledges itself indebted to, and promises to pay
to, the bearer on the first day of 1.11arch, 19_, $560.
00, t7,ith interest thereon at the ra.te of five per cent:
per annum, payable semi-annually, September first and
1.1arch first, on -,pre sent at ion and surrender of the Cou-
pons hereto attached, as they respectively become due,
both principal and interest being; payable in Gold Coin
of the United States at the office of the Treasurer of
said City.
This Bond is issued under and nursuant to the con-
stitution and statutes of the State of California,,, and
under Pn(,-' -,pursuant to Ordinances , and proceedings of
said City duly adopted and taken, and a vote and assent
of I more than two-thirds of all the oualified electors of
said City voting; at a special election duly and legally
called and held for t1nP�Jc -)urn. ose.
It is hereby certified, recited and declared that
all acts, conditions and things required by law to ex-
ist, hap-pen and be nerformed precedent to and In issu-
ance of this bond have existed, happened and been per-
formed in due time, form and manner, as required by law,
and that the amount of this bond, together 'ith all other
Indebtedness of said 'City, does not exceed any limit pre-
scribed by the constitution or statutes 010 said State,
and that orovision has been made as required by the con-
stitution and statutes of said State for the collection
of an annual tax sufficient to pay the interest on this
bond as it falls due, and also provision to constitute
a. sinkinc,- fund for the -payment of the principal of this
bond on or before maturity. The full faith and credit of
said City are hereby pledged for the punctual payment of
t l'i - of this bond.
he principal and interest
-3-
I T, %41 T T I S 3 �rT E 0 F Hunti.n.-r-ton Beach sai- "'ity o.L
has caused this bond to be executed under its corporate
seal, s-L('--'ned by its President of the Board of Trustees,
and its Treasurer, and counter-signed by its City Clerk;
and has clused the interest cou-pon hereto Fl-.It;�.ched to be
sii-,'ned by its Trepsurer, and this and to be dated IuI-'.e
first, day of ilIarcIn, 1916.
President of the Board of Trustees
of the City of H.',jntin-ton Eeach.
City Treasurer.
Count-ersi-ned:
City Clerk.
Section 3. Interest couDons shall be attached to erIch bond
bond grill run until
ie nur.-io,er o� years such to the number o� trice
maturity the,:eof, and each in an amount of 8,12. 50, Sijum shall
be the amount due for interest or, such bond fo-1, six months; such
cocoons shall be numbered frolu one lZowards consecutively r.nd shall
state the number Of the bond to is attached. Such cou-r,)ons
shall be signed by the Trea,surere of so,il-IL City) by his name written
(7-1 City,
or stpri'i-Ped by himself, or by his engr&-ved or lit`no----r,-.T3hed signature,
and be subs tc nt y in the followinf form, :--
FORL: OF CjOUPO'11
I'To. $12.50
lst, 19_, the
Citl':' of Huntington Beach i
Calif—orZLa, F'�ri-ll nay to the
bearer at the office of the Treasurer of said City $12. 50)
in Gold Coin of the United States, beinL,, six months in-
-4-
terest then "tue on its Ga,s Distributing System Bond,
dated _,arcah lst, 1916, Number
Treasurer.
Section 4. For the ourpose of .paying the principal and
interest of said bonds, the Board of Trustees of the City of
Huntington Beach, shall at the time of fixing; the general tax levy
and in the manner for marling s; .ch general tax levy provided, levy
and collect for t _e fund hereinafter orovided for, annually, each
year, until such bonds are ,a.id, or until there shall be a sum in
the Treasury of sP,id City set apart for that purpose, sufficient
to meet all sums becomeing due for t.-_e principal and interest of
said bonds , a tax sufficient to oay tam annual interest on said
bonds and such oart of the orincioal thereof as s'-_-,ll become due
before the time for fixing_; the next general tax levy. Said tax shall
be in addition to all other taxed levied for municipa-1 purposes, and
shall be collected ot t"r e sa ie Line and in the s .me -a,�nner as other
munici�<:al t, xes a.re collecte z, an as collected shall be fort'rn°Tith
raid into t-he Puna_ for t, ._ .c the sa a,e ?Fs levied and collected:
and such fund shall be designated "Gas Bond Interest and Redemption
Fund, 1916, 11 and all sums that become due for orincipal and interest
on said bonds shall be 1oa.id from such fund.
Section 5. The Board of Trustees shall sell said bonda at
such tines and in such amoun is as it ,:lay determine al-ld the aroceeds
arisin& from any such sale shall be placed in the treasury to the
credit of "Gas Distributing System Fund" , which fund is hereby
-5- ° `,
created; and bonds sh.--,!1 be used ei,,clusively for the -pur-pose
for staid bonds were issued.
E. HELI
President Pro-tem of the Doprd of Trustees
of the City of Huntington Beech, California.
AT T_.Ej S T 07--kS. R. INUTT
City Clerk and Ex-Officio Clerk
of the Bo,��,rd of Trustees of the City of
Huntington Beach, Californip.
State of' C l if o-z-n ie
County ofOr_,n,e, ss.
Citlr of Huntington '_'e,!!D,ch.
ly i 1, Chas. R. ',�utt , City Clerk and Ex-Offico Clerk of the
Board of Trustees of the Cit,r of Huntington Beach, California,
do hereby certify t h�' t'
fo, eg:oin,�', Resol-,.atioll' was introduced
and adonted at a re5Dmlar 1zeeting of spill 3oC--'.-..,d of Trustees held
on 'the 3rd dp.y of January, 1916, by the folloiF,!inc-" stated vote:
X 1E ES TRiSTE'ES: RosenberE,er, Tarbox, Huston, Hel.me
NOES TEU S'T E E S none
A33EI,T TRUSTEES: French
"IF, I S T T
1-0 m R. I�T V.1T
City Clerk and Ex-Cfficio Clerk of the
Board of Trustees of the City of Huntington Beach.,
California.
Approved this 3rd day of January, 1916.
dray
E. HEEMLIE
President Pro-tem of the Board of Trustees
of the City of Huntington Beach, California.