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HomeMy WebLinkAboutORD NO 1117 ' ' ORDINANCE 'NO. 1117 New Series AN ORDINANCE OF THE CITY OF BAEERSFI.ELD, CALIFORNIA, PROVIDING FOR THE ISSUANCE OF BONDS OF SAID.CITY IN THE AMOUNT OF $395,000. WHEREAS, pursuant %o Emergency'OrdinanCe No. 1112 NS 'of.%he cibY of Bakersfield,· California, a special municipal election was duly and regularly Held in said city on the 19th day Of March~ 1957, at which election there was'submitted to the qualified voters of said city the following bond proposi- tion,.to wit: PUBLIC TRANSPORTATION BoND PROPOSITION: Shall the City of'Bakersfield incur a bonded indebtedness in ~he principal amount, of $395,000 for the purpose of the acquisition and construction by said city of.a certain muniqipal improvement, to·wit: a-municipal bus'system for said city, including the acquisition and improvement of certain buses, fare boxes, service equipment and vehicles,· office equipment, and other appurtenant property presently owned by the Bakersfield Transit Co., the acquisition of additional buses, fare boxes, service.equipment, automobiles, shop tools, radio equipment, office equipment and other property neces- sary lot'.said system, and the acquisition of land and. the construction thereon of. offices, shops, fuel station~ fuel tanks, and other buildings and structures necessary for the operation of said System? and W~EREAS,. said proposition received the affirmative vote and assent of more than two-thirds of all of the qu~li- __.fT~-vo-t~r~-of--saTd-.6.~ty~vot.~n~..~..~.£d...pro~-b-s.i~on%--an.d-~ said city is authorized to issue.bonds. in the amount and for the purpose set forth in said proposition; and" WHEREAS, it is nec'essary'and desirable tO issue and sell said bonds at this time;' NOW, THEREFO .RE, BE IT oRDAINED, by .the Council of' the City of Bakersfield, California, as follows: .. .Section 1..' That bonds.of the..Ctty'of Bakersfield,' '. California,· in .the principal sum·of threelh~ndre~.nlnety,five thousand do'liars ($B95,000).be. lssued and sold for the purpose Set'f0~tl~ in ~he bond.proposition in the recitals hereof. ~ · .' :Said :bonds'Shall be designat'ed .MUNICIPAL BUS' SYST~24 BONDS, 1957, · - "" 'Shall be three hundred ninety-five in ~umber,"numb'ered 1 to · ' .395, l~clusi~e, and shall' be of the denomination'.of'$1,O00 · ' each.. Said bonds shall be dated. May li 1957, and'shall' be · ' .... payable ':~n Consecutive numert6al' 0rder~ $35",000'.on 'May 1', 1958, and $40,,300 on May 1 in each of' the years.1959 to '1967' .both " .' Said bonds shall bear·interest at a rate or rates " %0 be'"hereafter fiXed'by resolution,' put nOt to' exceed six per'cent (6%)'per.annum, payable annually the first year and · ' ... semiannually ~he'reaft~r'.' "Said b0fids and. the interest'thereon · shall'be p~yable in. lawful'money of the United States of .. .America at the office of the Treasurer of %he.'City b.f. Bakersfield~ California, in said city, '' ... Section 2. ·That the.. Mayor 0~ the'City of'Bakersfield '.. ...and the Treasurer of said city are hereby authorized and 'directed. tO:sign all of said. bonds by their printed, lithe- ''.' "' ...~phe.d ............. ~ .... ...~.~_ . ..... . ..... ~ ................ . ' or'engraved_facsimile Signatures,' and the .Clerk of · ' .... said"citY is h~reby a~th0rlzed and directed..to countersign "".i .said' bo~ds and. to affix thereto the corporate Seal of said '"' city,.and the 'TreasUrer .of said citY. is hereb~ authorized and dir~c't6d. . to sign the.interest coupon's, of said bonds · by'hi.S'pri~ed,, lithographed, or 'engraved facslmlle.slgna- ...... tUre, :and to' number said interest coupons of'each of said bonds"consec~tively.. -.' .... Section 3. That said'bo~ds .a~d the coUpons for .. ':"' the interest thereon' shall be issued in 'substantially the "..".. f0~l'owing form: " """. .. UNITED STATES' OF AME. ~icA .. ' .. .' STATE OF CALIFORNIA. · ". .-... CITY OF BAKERSFIELD ,. · ... MUNICIPAL BUS SYSTEM BOND, 1927 · The CITY 'OF BAKERSFIELD', a municipal C'orporat'ion -"- '. Situated in. the County of. Kern, state of California,. FOR VALUE RECEIVED, hereby, acknowledges.its indebted.- ness and. promises.to pay to. the bearer hereof the sum' ·. o~ ONE.THOUSAND DOLLARS ($i,000~O0)..on the first day o~ May, 19 , with lnte~est..the~eon from the date .. -. hereof'at %=h-grate of . · per .cent ( %).per 'a~nu'm~ interest.for the first'year PaYable a-~e ..end 0f"said year and .interest thereafter payable · semiannually on the first days'.of May and'.November. " · ' of.leach'and every year until this.bond is~paid'~i, on: · ... ''. '. .presentation a~d surrender of ~he respective interest' coupons' her'eto'attached. .Both principal'and'in~erest · . are payable in lawful money of'the United 'States'of -.. America at the office of the T~eaSurer..of the City of · ... . Bakersfield, California, In"said 9ity~...' · " -.. This bond i.s issued by the City :of'Bakersfield· · . under.and in pursuance of and in ~onformity with the '-. : 'provisions of.the Charter of said City'and. of'Article 1, · . Chapter ~, Division ~, Title ~ Of the Government Code ... ' of the State of California, and. acts'supplementary there~ .. .'. 'to, and in pursuance of the laws and Constitution Of'the " 'State of California,.and. is authorized by a"vote of'mc.re than two~thirds of all the' qualified voters· of said City of Bakersfield'voting at an el'ection.duly and legally called, held a~d. cOnducted in.said.'city .on. the 19th day of March, .1957~ .... " .. "' ~'-"'"": I~-i§ HEREBY CERTIFIED, RECITED AND'DECLARED that · '-... all 'acts, conditions and things .'required 'bY law t6 '. -. .- .exist, happen and be performed precedent".to and in the issuance of this bond' have· existed, happened and ·Been performed in due time, form'and manner as required by "' 'law, and'.that, the amount of. this bond, together with - all other indebtedness of said city, does not exceed · a~y debt· limit· prescribed 'by the laws or Constitution · . of.the State' Of California or the Charter. of said City. IN WITNESS WHEREOF, said City of Bakersfield,' has · . 6aused·this bond tO·be, signed by.~helMayor and the '" .i'.'-"~'..' Treasurer of said city by their facsimile signatures, " ..countersigned by the Clerk of said city, and' sealed' .... .. ~.'."......with the.corporate seal of said city., and the interest · ..'.' coupons'hereto attached to be signed by. the Treasurer ~: ~. '- ". by his facsimile, signature,:and has caused this bond '" '""..'.' .:. to be dated the first day.'0f May! 195~ · ' ' . " (fadsimile signature) ".. .' .~ '. " Mayor of the City of ... Bakersfield, California. · (facsimile ~ignature~ · .'.. '. Treasurer of the City or · .' ""' ·Bakersfield, California. ·' . cOUNTERSIGNED: -'.i .-' Clerk'.'of the City .of".. ..... Bakersfield, California.' .... .".' (~EAL) ' : -' (COUPON FORM) · . '- ...On the first day of " ' ' " the city of. BAKERSFIELD, CALIr'. 19 . " ".: FORNIA, will pay to.the.bearer' .." at the office of.the .Treasurer :~Coupon No. " of the.City of Bakersfie'ld~ in said city,'the sum of $" .. in lawful money ..of the.United· .... · .- States of America,. being the "" ... '-i.' '" (annual or semiannual) interest ' ". ... then due on'MUNICIPAL BUS SYSTEM" '-. ."'.. BOND, 1957. No..'__ · ' " . · · dated May l, 1957 .. · ' (facsimile'signature) Treasurer of the City of ' " " Bakersfield, California, · '" " ' " '~'" ' '" ' ' ' ~"' '"'~'.'..:4'~-"' · .~ ~. ....... ..- . ..'.~:_~.~ ~.~ .. '. · .', · ~..... '. ~... ..... i _ ~.~ ...... . .......... · ..... " - ..... Section 4. That the. Proceeds of the sale of said bonds (except premium~ if'anY, and accrued interest) shall forthwith be turned over tO and placed.in the muni- cipal treasury of the City of Bakersfield tO the.credit of a ·fund hereby created and designated "MUNICIPAL BUS SYSTEM BONDS 'AcQUisITION AND IMPROVEMENT FUN~,. 1957", and the moneys in said''~und.shal~' be applied'exClusively to'the acquisition and construction of themunicipal improvement described in the bond proposition in the recitals hereof. Section 5. That. any premium or accrued interest " re'~eived from'the sale Of said bonds shall forthwith be · '~urned over to'and, placed in.said treasury in the interest · . "and'redempt'ion fund hereinafter created. That for the put- ' pose of paying the principal'and, interest of.said bonds, the Council of the City of Bakersfield shall, at the time of fixing the general tax levy, and .annually thereafter until said bonds 'are paid or until there is a'sum in the treasury. " of said. city set',apart for that purpose sufficient to meet' all " -'u payments of principal and interest On said .bonds as they become due, levy' and c011ec% a tax sufficient, to pay the interest on such indebtedness'as it.falls due.and such part of the'principal as will ·become due before the proceeds of a " tax levied at the next general tax'levy will be available..· · Said tax shall be in addition to all other taxes'levied'for 'muhi. cipal .purposes and shall be levied and collected as other City. taxes, and shall forthwith be'turned'over and ·paid into a fund of the City of Bakersfield to be known as "MUNICIPAL BUS' SYSTEM BONDS, 1957, INTEREST AND REDEMPTION FUND. To the. extent that, pursuant to Charter-provision.or '6th~rwise, moneys are actually placed in sa'id fund from a source other ': than.said, annual tax.'I'evy, the tax.h~reinbefore required '" to be levied may be reduced, and if all of'the moneys re-. .... qUired to 'he'.raised bY. any such tax levy 'have actually · '.. been placed in' said fund .from. some such other sour'ce, the :itax.levy h~rei~before required fOr'.suc~.'year need'not'be made. .... ...'i.~aid ~und 'shalI be used'.~or"nb other'.purPose than the pa~ent, of ..--" said bonds and'interest'thereon until .said bonds and interest · .. .'are 'fully paid. ' .: -. "':' ..'""""..'.i'.~ .Section 6. 'That"'the'.Clerk shaii' certify. to the.passage ahd · ... ':adoPtion of this o~dtnahc'e 'by :'the iCouncil of said citY.,. ~nd. "..'. . " 'sh&lt.c~use this ordinance to be'Posted', as.provided in Section 1 . ..~. '.of.'.~rdina'nce No, 527 N.SJ of' said City. :" " ' ' Section 7.. This ordinance shall take effect upon. · .'.. :..'i'i-:t~e'.expiration of thirty .(BO) dams from. the time.of, its passage~ · .~ .... ADOPTED, SIGNED AND'APPROVED this 22nd .day of April," · ......- '.' · Mayor .'. ". Bakersfield, California, STATE OF CALIFORNIA ) .. COUNTY OF KERN I ss. CITY 'OF BAKERSFIELD' .. I, MARIAN S. IRViN, ·Clerk of the City of Bakersfield, California, DO HEREI~P/' C~TIF¥ 'that the foregoing, ordinance was'-duly passed and adopted by the Council of said City and signed and approved by the Mayor of said ·City at a regular · meeting of said Council held April 22, 1957, and that said --' ordinance was passed and adopted by a vote 'of not less " than two-thirds of the members of said ·Council, to wit: · ' AYES:. Councilmen Balfanz, Bentley: Carnakts: .. . ...C.o~.}..lins: Crees: Doolin: Schweitzer NoEs': Councilm.en None .. .. " ABSENT: Councilmen .Non. '. .k' Affi au ! of ®r nanres STATE OF CALIFORNIA, I ' County of Kern ~ ss. MARIAN S. IRVIN, being duly sworn, deposes and says: That she is the duly appointed, acting and qualified City Clerk of the City of Bakersfield; and that on ........ .t...h..e.....2...3..r...d.....d..a._Y___._°_.f__..__A..P...r.~..]:.;_ .......................... , 1~..7. .... she posted on the Bulletin Board at the City Hall, a full, true and correct copy of an ordinance passed by the Councii of said City at a meeting thereof duly held on ..... .t...h..e......2..2...n...d....d..a...Y.___.°___f.___..A.P__.r_~..]:.: ................ ,19....5..7.., which ordinance was numbered ....... .]:_._]:._1_._7. ................... New Series, and entitled: AN 'ORDINANCE OF THE CITY OF BAKERSFIELD, CALIFORNIA, PROVIDING .FOR THE ISSUANCE OF BONDS OF SAID CITY IN THE AMOUNT OF $395,000. ~Subscribed and sworn to before me this .~. ~_ -. -- ~'~'~.'~ · ~ k~ :~ ~ ..'_--' 23-r,d~ ~ April, -~ 57 .~ ~ '= ~__:~.__ully 0I ............................................ , 1~ ......... ~., . ~... . ~ ~' ~, . .............. .~_~_=~ ........... ~..~ ............... ' '~' N : ! '' .... ~ ~ ~ .. o~ ~Mx~m and for t~ ~nty oI Kern, S~ of Cahforma ~,-.. ~ ~ ..- ~ . . ~_~ ' z ~'~ ~,'~ M~ Commission Ex~raa ,..me 9, 195P · .