HomeMy WebLinkAboutORD NO 1229 ORDINANCE NO. 1229 New Series
AN ORDINANCE OF THE OITY O~ BAKERSFIELD,
CALIFORNIA, PROVIDING P0R THE ISSUANCE
OF BONDS OF SAID CITY IN TBE AMOUNT OF
$3,750,000.
WHEREAS, pursuant to Ordinance No. 1198 N.S. of
the City of Bakersfield, California, a special bond election
was duly and regularly held in said city on the 4th day of
November, 1958, at which election there was submitted to the
qualified voters of said city the following bond proposition,
to wit:
CITY OF BAKERSFIELD MUNICIPAL AUDITORIUM
BONDS: Shall the City of Bakersfield incur a
boned indebtedness in the principal sum of
$3,750,000 for the purpose of the acquisition
and construction by said city-of a certain
municipal, improvement, to wit: a municipal
auditorium and public assembly building suitable
for conventions, trade shows, sports and athletic
events, exhibitions, musical and dramatical pres-
entations and group meetings, together with land-
scaping and off-street parking facilities therefor
and including the acquisition of all land, furni-
ture, furnishings, apparatus, equipment and other
property necessary therefor?
and.
WHEREAS, said proposition received the affirmative
vote and assent of more than two-thirds of all of the quali-
fied voters of said city voting on said proposition, and
said city is authorized to issue bonds in the amount and for
the purpose set forth in said proposition; and
W~EREAS, it is necessary and desirable tO issue
and sell said bonds at this time;
NOW, THEREFORE, BE IT ORDAINED by the Council of
the City of Bakersfield, California, as follows:
Section 1. That bonds of the City of Bakersfield,
California, in the principal sum of three million seven
hundred fifty thousand dollars ($3,750,000) be issued 'and
sold for the purpose set forth in the bond proposition in
the recitals hereof. Said bonds shall be designated
"MUNICIPAL AUDITORIUM BONDS, 1959," shall be three thousand
seven hundred fifty in number, numbered 1 to 3750, inclusive,
· .and shall be of the denomination of $1,000 each. Said bonds
shall be dated April 1, 1959, and shall be payable in consecu-
tive numerical order on April 1 in each of the years and in
the amounts as follows:
Year Amount Year Amount
1960 $100,000 1970 $200,000
1961 100,000 1971 200,000
1962 125,000 1972 200,000
1,96'99~ 125,00o, 1979 225,000
1~ 150,000 1974 225,000
il 150,000 197 225,000
l~~ 150,000 197~ 250,000
1967 175,000 1977 250,000
1968 175,000 1978 275,000
1969 175,000 1979 275,000
Said bonds shall bear interest at a rate or rates
.to be hereafter fixed by resolution, but not to exceed six
per cent (6%) per annum, payable annually the first year and
semiannually thereafter. Said bonds and the interest thereon
shall be payable in lawful money of the United States of
America at the office of the Treasurer of the City of Bakers-
field, California, in said city.
Section 2. That the Mayor of the City of Bakers-
field and ~he Treasurer of said city are hereby authorize~
and directed to slgn all of said bonds by their printed,
llthographed or engraved facsimile signatures, and the
.Clerk of said city is hereby authorized and dlrecte~ to
countersign said bonds and to affix thereto the corporate
seal of said city, and the Treasumer of said city is hereby
authorized and directed to sign the interest coupons of
said bonds.by his printed, lithographed or engraved facsimile
signature, and to number said interest coupons of each o~
said bonds consecutively.
Section 3. That said bonds and the coupons for
the interest thereon shall be issued in substantially the
following
UNITED STATES OF AMERICA
STATE OF CALIFORNIA
CITY OF BAKERSFIELD
MUNICIPAL AUDITORIUM BOND, 1959
NO. $1,000
The CITY OF BAKERSFIELD, a municipal corporation
situated in. the County of Kern, State of 0alifo~nia,
FOR VALUE RECEIVED, hereby acknowledges its indebted-
ness and promises to pay to the bearer hereof the sum
of oNE THOUSAND DOLLARS ($1,000.00) on the first day
of April, 19 , with interest thereon from the date
hereof at th~-~ate of per cent (___~) per
annum, interest for th~'first year payable~e end
of said year and interest thereafter payable semi-
annually on the first days of October and April of each
and every year until this bond is paid, on presentation
and surrender of the respective interest coupons hereto
attached. Both principal and interest are payable in
lawful money of the United States of America at the
office of the Treasurer of the City of Bakersfield,
Califo:mnla, in said city.
This bond is issued by the City of Bakersfield
undeF and in pursuance of and an conformity with the
provisions of the Charter of said city and of'Article'l,
Chapter 4, Division 4, Title 4 of the Government Code
of the State of California, and acts supplementary
thereto, and in pursuance of the laws and Constitution
of the State of California, and is authorized by
a vote of more than two-thirds of all the qualified
voters of said City of Bakersfield voting at an
election duly and legally called, held and cgnducted
in said city on the ~th day of November, 195~.
IT IS HEREBY CERTIFIED, RECITED AND
DECLARED that all acts, conditions and things re-
quired by law to 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 indebted-
ness of said city, does not exceed any 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 Bakers-
field has caused this bond to be signed by the Mayor
and the 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 of April,
1959.
, [facsimile signature]
Mayor of the City of
Bakersfield, California.
Bakersfield, California.
COUNTERSIGNED:
CT~rk of the CISy of
BakerBfield, California.
(SEAL)
(COUPON Fo ).
On the first day of
the CITY OF BAKERSFIELD, CALIFORNIA, 19 ,,
will pay to the bearer at the office
of the Treasurer of the City of
Bakersfield, in said city, the sum of $
in lawful money of the UnltedStates
of America, being the (annual or semi-
annual) interest then due on MUNICIPAL
AUDITORIUM BOND, 1959 No.
dated April 1, 1959
Bakersfield, California.
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 munici-
pal treasumy of the City of Bakersfield to the credit of
a fund hereby created and designated "MUNIGIPAL AUDITORIUM
BONDS AG~UISITION AND IMPROVEMENT FUND, 1959," and the
moneys In said 'fund shall be applied exclusively to the
acguisition and construction of the municipal improvement
described in the bond proposition in the recitals hereof.
Section 5. That any premium or accrued interest
received from' the sale of said bonds shall forthwith be
turned over to and placed in said treasury in the interest
and redemption fund hereinafter created. That for the pur-
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 kS' meet
all Payments of principal and interest on said bonds as they
become due, levy and collect 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
municipal 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
AUD TORI BONDS, 1959, AND
the extent ~hat, pursuant to Charter provision or otherwise,
moneys are actually placed in said fund from a source
other than said annual tax levy, the tax hereinbefore
~eq.uired to be levied may be reduced, and if all of the
moneys required to be raised by any such tax levy have
actually been placed in said.fund from some such other
source, the. tax levy hereinbefore required for such year
need not be made. Said fund shall be used for no other
purpose than the payment of said bonds and interest
thereon until said bonds and interest are fully paid.
Section 6. That the Clerk shall certify to the
passage and adoption of this ordinance by the Council of
said city, and shall cause this ordinance to be posted as
'provided in Section i of Ordinance No. 527 N.S. of said
city.
section 7. This ordinance shall take effect
upon the expiration of thirty (30) days from the time of
its passage.
ADOPTED, SIGNED AND APPROVED this 2nd day of
March, 1959.
Mayor ~ot~temC~yt~ City of
Bakersfield, California
ATTEST:
.~ ..,-~'C~e~,,k'.of the City of
~':..~¥. '..~),; .Bake~£1eld, California
.......
~. ..-'
"'~? ~ ~"
STATE OF.CALIFORNIA )
COUNTY OF KERN I ss.
CITY OF BAKERSFIELD
I, MARIAN S. IRVIN, Clerk of the City of
Bakersfield, Callfornla, DO HEREBY CERTIFY that the fore-
~oing or.~inance was duly passed and adopted by the
Council of said city and st~ned and approved by the Mayor
of said city at a regular meeting of said Council held
March 2, 1959, 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, Carnakis,
Croes, Dewire, Doolin
NOES: Councilmen None
ABSENT: Councilmen Collins
Affi a ! of r nan es
STATE OF CALIFORNIA, /
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
the 3rd day of March, ........
on ........................................................................................... ,19 59 she posted on the Bulletin Board at
the City Hall, a full, true and correct copy of an ordinance passed by the Council of said City at a
meeting thereof duly held on ............t...h..e...__2..n_..d.....d...a.._Y.___.°_.f..___.M.a...r.._c__h..~_ ............ ,19..5..9...., which ordinance
was numbered ............1..2...2..9._ ............... 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
$3,750,000,
Subscribed and sworn to before me this
,.,..Notary Publi~ in and for the County of Kern, State of California
My Com~issian ~.Cxplres June 9.