HomeMy WebLinkAboutORD NO 1364 ORDINANCE NO. 1364 New Series
AN ORDINANCE OF THE CITY OF BAKERSFIELD,
CALIFORNIA, PROVIDING FOR THE ISSUANCE
OF BONDS OF SAID CITY IN THE AMOUNT OF
$850,000.
WHEREAS, a special bond election was duly and
regularly held in the City of Bakersfield on the 28th day
of February, 1961, at which election there was submitted
to the qualified voters of said city the following bond
proposition, to wit:
CITY OF BAKEP~SFIELD MUNICIPAL AUDITORIUM
ADDITIONS BONDS: Shall the City of Bakersfield
incur a bonded indebtedness in the principal sum
of $850,000 for the purpose of the acquisition and
construction by said city of a certain municipal
improvement, to wit: additions to the municipal
auditorium and public assembly building including
an ice: rink refrigeration system, au ice rink floor
system, a pit hoist, carpeting, fixed seating,
kitchen equipment and kitchenettes, stage draperies
and a counterweight system, stage dimmers and
control panels including portable lighting, sound
equipment, cers~.ic tile wainscots, exterior painting,
asphaltic tile flooring, acoustical tile on plaster,
communication equipment over the arena, together with
paving of parking areas, ornamental shrubbery and
curbs, gutters and sidewalks, and including all
furniture, 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
WHEREAS, 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 eight hundred fifty
thousand dollars ($850,000) be issued and sold for the
purpose set forth in the bond proposition in the recitals
hereof. Said bonds shall be designated "MUNICIPAL AUDITORIUM
ADDITIONS BONDS, 1961," shall be eight hundred fifty in number,
numbered 1 to 850, inclusive, and shall be of the denomination
of $1,000 each. Said bonds shall be dated July 1, 1961, and
shall be payable in consecutive numerical order on July 1
in each of the years and in the amounts as follows:
Years- Amount
Inclusive Each Year
1963 - 1967 $15,000
1968 - 1972 ;~5,000
1973 - 1980 60,000
1981 70,000
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 Bakersfield, California,
in said city.
Section 2. That the Mayor of the City of
B~kersfleld and the Treasurer of said city are hereby
authorized and directed to sign all of said bonds by
their printed, lithographed or'engraved facsimile
signatures, and the Clerk of said city is hereby
authorized and directed to countersign said bonds
and to affix thereto the corporate Seal of said
city, and the Treasurer of said city is hereby
authorized and directed to sign the interest coupons
of ~aid bonds by his printed, llthographed or engraved
facsimile signature, and to number said interest
coupons of each of said bonds consecutively.
Section 3. That said bonds and the coupons
for the interest thereon shall be issued in sub-
stantially the following form:
UNITED STATES OF AMERICA
STATE OF CALIFORNIA
CITY OF BAKERSFIELD
MUNICIPAL A33DITORIUN ADDITIONS BOND, 1961
No.__ $1,000
The CITY OF BAKEBAFI~.D, a municipal corporation
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
of ONE THOUSANDDOLLAR8 ($1,000.00) on the first day
of July, 19__.__~ with interest thereon from the date
hereof at the rate of per cent ( %)
per annum, interest for the first year payable at the
end of said year and interest thereafter payable semi-
annually on the first days of January and July 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,
California, in said city.
This bond is issued by the City of Bakersfield
under and in pursuance of and in 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 conducted
in said city on the 28th 'day of February, 1961.
IT IS HEREBY CEB~IFIED, REOITEDAND DECLARED
that all acts, conditions and things required 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 indebtedness of said city,
does not exceed any debt limit prescribed by the
laws or Constitution of the State of Calif~nia
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 July, 1961.
]facsimile signature]
Mayor of the City of
Bakersfield, California
~facsimile signature]
Treasurer of the City of
Bakersfield, California
COUNTERSIGNED:
'Clerk ~f the City of
Bakersfield, California
(COUPON FOI~)
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 United States
of America, being the (annual or semi-
annual) interest then due on MUNICIPAL
AUDITORIUMADDITIONS BOND, 1961, No.
dated July l, 1961
~facsimile signature ]
Treasurer of the. City of
Bakersfield, California
Section ~. 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 municipal
treasury of the City of Bakersfield to the credit of a
fund hereby created and designated "MUNICIPAL AUDITORIUM
ADDITIONS BONDS ACQUISITION AND IMPROVEMENT FUND, 1961,"
and the moneys in said fund shall be applied exclusively
to the acquisition and construction of the municipal im-
provement 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
purpose 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 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 avialable. Said tax shall be in addition to all
other taxes levied for municipal purposes and shall be
levied'and co'llected as other city taxes, and shall forth- :..
with be turned over and paid into a fund of the City of
6.
Bakersfield to be known as "MUNICIPAL AUDITORIUM ADDITIONS
BONDS, 1961, INTEREST AND REDEMPTION FUND." To the extent
that, 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 required
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 1 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 12th day
of . June ~ 1961.
_~Ta~r of the City of
Bakersfield, ~ai.i-fornla.
ATTEST:
Bakersfield, California
(a AL) ?.
STATE OF CALIFORNIA ) ~' ..
COUNTY OF KERN ss.
CITY OF ~IELD '.~...:..'
I, MARIAN S. IRVIN, Clerk of the City of
Bakersfield, California, DO HEREBY CERTIFY that the fore-
going 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
~ 1961, and that said ordinance was pas--~
an a ope y a vote of not less than two-thirds of the
members of said Council, to wit:
AYES: Councilmen Balfanz, Croes, Doolin.
M~rchb~-k~t Moss.an
NOES: Councilmen None
ABSENT: Councilmen Collins~ Stiern
(SEAL) Bakersfield, California