HomeMy WebLinkAboutORD NO 1593 · .. :~1~ "ORDZI~ANCl~ 01~ TI:lB CITY 0F ]3AEER~F:LELD, "
" '" .C.~IF~IA,' ~R~N~ FOR T~ iSSU~O~ '
· ... " W~As,. ~,u~t to O~!n~ge No, 1~7~ of the
C~ty off. ~kersfleid
· ..':"e!e~t{on' was duly'~d ~l~ly ·held ~n .sa~d' .O~ty. 0n. the =."
"" ' RSth d~ of' Sept~be~ , 19 65=, .at wh~oh eleOti0n ~he~e
was. suborned 'to the qualified voters of. sa~d o~ty the .fo!l~-
· - ~ ·bond p~0pos~lons, to 'w~t m .. ..
· . .BO~ ~O~OS]T]ON A - S~ SYS~i 'S~' the' ..
' . ~ty off
· .'.. 'the..princ~p~ ~o~t of $3,~R~,000 for the PU~ose.
off the acquisition. ~d
a certa~
.. .to ~d ~prov~ents off the. se~e co~ec2ion ~d
d~sposal syst~ of said city lncludi~ t~ Sewers
· ' .'- ~d sewage treatment facilities .~. the .~cquisit~on
of all l~ds, eas~ents~ pipe, p~s, ~chine~. ~d
.other pr~er~y necessary therefor? ... - ..
BO~..~OP~iTION B -
Shall the' c~ty. 'of B~ersfleld inc~ .a ~onded lndebt-
.... e~.ess in the principal ~o~t 'of .$i2~000' for 'the
" pu~ose, of the acquisition ~d const~ction...by said .
city of a c.ert~n m~icip~l i~rov~ent, to ~t:
additions to the fire fighting syst~ of the City
'' includi~ a fire station ~d ~ncludi~ the acq~si-
tion of a~ real property, ~rnlture,. fixtures, fare
flghtl~ tools, .apparatus, equipmen~ ~d othe=
property necessa~ therefor?
.and
~EAS, said propositions received the affirmative
vote and assent of more· tb~n.two-third, s' of all of ~he
qualified voters of said city voting on each of said proposi-
tions, and s&id city is authorized to issue bonds 'in the
amount, and for the' purpose 'set forth in each of Said ....
: p~opositions; and . ..
· . ~EAS, it is necessary and desirable to issue and
sell the following amounts of bonds at this time;
.. Proposition A - Sewer System . $1,'000,000
· . Proposition B - Fire Fighting 125~OOO.
System
NOW, THEREFORE, the City Councii of the City of
" Bakersfield, Cali'.fornia, DoEs .oRDAIN as' f0116~s: " .'
section 1. That bonds of the City. of Bakersfield,
Calif6rnia, in the principal sum of $1,125.,000'i be issued and
sold for the purposes set forth .in the bond propositions in
the recitals hereof. Said bonds shall be designated'
"MUNICIPAL IMPR~ BONDS, 1966, SERIES A,". ·Said bonds
shall b'e all in' the denomina~ion of $1,000 'each, or ail. in
'the denomination of .$5~000 each, at the option of the
purchaser, and shall be either 1,125 in number, numbered
· 1 to 1,125, inclusive, or 225 in number,, numbered 1 to 225;
inel.usive, depending upon the denomination specified. Said
in csnsecu'tive numerical order on January '! ~ln the amounts for
.. each of the,~aeve, ral years as follows:
Years Prlnc~'pal
· ~. Inclus ive Amount · -.. ·
1972 25,000 '
197~ ' 3o, ooo .
~97~ m 35, 000 '. m'm m mm mm mm
.1981-1982 .. 6550:000
· 1983-1984 " 000
1988-19~9 70,000 '
1990-1991 .75,00'0
Said bonds shall bear·in~erest .at'a. rate or rares
to be' hereafter fixed by resolution, but not to exceed ~our
And .one-half per cent (~-1/2%) per annum, payable 'annually
the first year and semiannually thereafter. Said bonds· and
the interest th..ereon shall be payable in lawful mone~..of the.
Un~'ted States of America at the office of the Cit~ Treasurer
of said city in Bakersfield, California, or at the option of
the holder thereof,· at the main office of Bank of America
National Trust ..and Savings. Association, Los Angeles or
san .Francisco., California, or at a~y fiscaI kgent of the. city
in Chicagol Illinois, or New York, New York~
Se6tion 2. That the Mayor and the city Treasurer"
'of said city are hereby authorized and directed to sign all
of said bonds by their printed, lithographed or engraved
hereby authorized and directed to countersign, said .bonds and
to affix {h~.r..e. to' the corporate seal of. said dlt~, and
Cit. y Treas. urer of said city is hereby au~h0rlzed "~nd directed
. to sign the interest coupons of said bonds 'by his printed,
lithographed or engraved facsimile' s~gnature, and to number ~..
said interest coupons of e~eh of said bonds consecutively.·
section 3. That the proceeds oP' 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 the
following funds: $i,000,000 shall be placed 'in a fund
'.. hereby created and designated "MuNIcIPAL IMPROVEMATT .BONDS,
1966, SEWER-ACQUISITION AND IMPROVEMENT '.END," and $t25',000
shall be placed in a fund hereby created and ~esignated
"MUNICIPAL IMPROVEMENT BONDS, 1966, FIRE FIGHTING ACQUISI- ,' .
TION AND IMPROVEM~.NT FU~D," and the .moneys ~'n ,s.,a,~i,d. funds .-,.,.
shall .be applied exclusively to the acquisition and.' con- "'.~;...
· ' .struction of the municipal improvements, d~scribe, d in each of
· the bond propositions in the recitals hereof, .'e'xcep% 'as'
provided in Section li. B628 of the Government Code.
Se'ction ~.' That any premium or.accrued interest
received from the sale of said bonds shall forthwith be -
turned· over to and placed in said treasu~3r in. the interest --
and redemption fund hereinafter created. That for the
purpose of pay.ing the principal and interest· of said bonds.,
the .City Council of ~aid city shall .at the time of fixing ..
the'g~neral tax levy, .and annually ~hereafter 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
become· due, levy and collect a tax sufficient to pay. the
interest on s~id bonds...aa it ~al'ls .due and to constitute a
sinking fund for payment of the principaI on or b~fore
m~turity. 'Said ts~x sl~ll be in addition Go-all other taxes
levied for m~niclpal purposes and shall be levied and
collected ~s other city taxes, and shall forthwith be turned''::...
over and paid into a fund of the city to be known as '. .... '~.,.~'.,.."
"MUNICIPAL IMPROVEMENT BONDS, 1966, I~EREST AND. REDEMPTION '
· . FUND." To the extent that, pursuant to Charter provision
or otherwise moneys are actually placed ~n said fund from'a ..:..
source other tl~n said annual tax levy, the tax hereinbefore .... '
required to be levied may be reduced, and if all o~ the..
moneys required go be raised by ~ such tax levy. have
actually been placed &n said fund from 'some Other 'source, the · ..'. :/'.:"'
tax'levy hereinbefore required for such year need not be made '.'".'~'.
'Said fund shall be used for no other pu~2:~ose than the payment
of said.bonds a~d'interest thereon until said'bonds and
interest are fully paid. "'"
Section 5. That said bonds and tho' 6oupons for the "
i? ·
interest thereon shall be issued'in substantially ~he' ""'..'
following form: ..'
· ..~..~.~.,~.~..~ · .
.~;~s~ s~s ox' ~~... .' ". .... "'
· '. .. S~ OF
CO~Y OF ~.
CITY OF ~SFIE~
~IC~AL ~R~NT BO~ 1966, S~I. ES A
No, '- '$
oo=po~at~on s~t~t~d .~n the..Co~t~ 'of Kern~
ac~owled~es ~ts ~ndebtedness and. ~om~ses
· ~. 'the bea~e~ 'hePe~f.~he ~ 0f ~0~
~~. ($ ). o~ th~ f~rSt ,..'. da~. of..' · .
J~hua~ , 19 'w~th' ~te~est. the~e~6 ~t the' ' '"
~ate of per c~t ( ~) pe~ ann~, ~nte~- ..
est fo~ the f~s~ ~ea~' ~Ble at ~he.end of
yea~. and ~nte~est. the~eafte~ ~ble 'se~ann~11~ .~n ~..:'['~'
the first days Of July and" .J~nuary .:'~'..
. .... ~...: f~,,; .
of eaeh and.eve~ ~ea~ f~om the date he,eof ~t~l.. .:~':~:.:.
th~s bond ~s pa~d, on p~esenta.$~on .and su~ende~ of "'";';'"~'"
.. the ~espeot~ve ~nte~est coupons he, et0 .at~ched; ."
~th p~cl~l and ~nte~es~' a=e pa~ble ~n lawful ..= :..
money of ~he ~l~ed Sta~es of ~e~ca at the off~ce "'
~l~fo~a~ ~n sa~d c~t~ ~r at the option of the '.'
· ' ·holder hereof, ~t ~he ~in office of Ba~ of .~e?~e'a .. :...
National T~st an~ S~vi~s Associatlon~ Los Angeles ...
~. or San Fr~cisco~ C&llf'ornl~ or ~ &~ fiscal ~ent
of the city ~ Oh!ua~o, Illlng!s~ .or New York,
· New .York. · ·
~s ~nd ~s ~ssued by the C~ of'Bakersfield
~der and ~n p~s~noe of and ~n confo~ .w~th the'
~ter of ~a~d c~t~ and the ~=ov~s~on~ ~f A=t~cle.'
~pte= 4,. D~v~sion 4~ T~tle 4 of ~he' Gove~e~ Code
of the'S~te of Ca12fo~a, and acts supplementa~
the~eto~ ~d ~n p~suance 0f. the laws ~d'
of the State of Cal~fo~a, and ~s authorized
vote of more t~n ~w~-~hi~ds. o~ all the q~l~f~ed.
vo~ers of. sa~d C~t~ of' B~kersfield '.vot~n~ at an
elec%~on dul~ and le~lly called, held' and conducted
~n sa~d c2t[ on the ~Sth da~ of.. Sept~ber~ 196~.
ali"acts,, conditions and thanes ~equ~ed By law
exist, happen and be pe~fo~ed precedent to ~d ~n
lss~nce of th~s ~nd ~ve existed, happened ~ been
pe~fo~ed. ~n due t~me~ fo~ and ~e~ as ~equ~ed
............ ~ ......law~'..and ~t th'g a~ .of--th~s-bond~'-~o~ethe=--~'th--'f ...... .' ' :"
all o~he~ ~ndebte~ess .of ~d c~t~ .does no~ exceed· '~ ~ ' '
an~ debt limit prescribed b~ the ~r~e~ of
o= ~h~' laws O= Constitution of the $~ate of
6 . -
· . .. .'. ... :.'.. ..
. . .. .~ ~, ..... . ~ .. '.. '~ ~ "'
· . .:- .... . ~,:. ~.:~ . .~,·.~?. · .... . '... .
.IN WITNESS WHEP, EOF,. :said City ofl Bake.r..s..f..~e'.l..d'
ha.s caused this bond to be sl~ed by 'the' Mayer and.
the.City T~easurer of sa2d' city by their-facslml'le
signatures', co~ntersiEned by the City .Clerk of 'sa~d "'
· ' city and. sealed with the corporate seal of said ...
.c'lty, and'the ~nterest coupons hereto attached to.
· " be. sl~ned by the City T~easu~er by..hl.s'-facsimile
si~nature, and has caused th~s bond itc be' dated the ."
first .. .' day of January, '1966. '-... ...
.... ...-.:
" · · .': B~ker. sf£eld, California.
...... Bakersfi'~.ld, Cali.~ornia. '..
C~y ~ler.k ~f ~he 'City of "
Bakersfield, ·California. ..
(CO~ON '~0~)
. On the. first day of
. the CITY OF BAKERSFIELD.~ 19
'bearer, at 't.he office of the ..
'.. .City T~easu~er of said 'city, Coupon' No..
in said c.~ty, or at t~e opt. ion
of the holder hereof,'at 2he' · "'
.. main off, ce of Bank of America
Natlohal Trust' and Savln~s Assocl- ..
ation, LOs Angeles or San ...
fFrancisco, California, or at . .mtY. '
iscal' .a~ent .of the city in 'Ch_l~a~o, "'
Illinois, -or New York, New. YorK, '~: "
.the sum or .% · ..
· 'in lawful ·money of the United ". .....
· States of. America,. be~r~ the ..
Interest then.due on its ."
' MUNICIPAL IMPRINT BOND, No.
· ~ .. ' 1966, 8EaIF~ A, ....
· ' Dated Januar[. 1 · ,. 1966. '
.: ........ =.. _. ........... · ..... A. .... · ...... ~-'.:.-'.- -- ........ ' ...... ~---;'-'- .....
.
'Bakers'field, California.· ...
' ' .'. · -. ~ '.' '~.'.'i" ' . ' .!' .i ~.'.'.)":.' ' "'~ :.:'.
· . . '.~., ~?· . · . · . · .. '¢.',..'.'.:/.~ .. ,.... , . . ~'...
· '. . . . .. ..... "~(~ ~.....,. ..... ..,,'.~... ......-. ?;,j::.:,. .... ..~..~,..,..'~*~:-, '" ~' '"' ~;~r...:;:~:.
· . . ' ..... . ...~.~ . ....:.-,..:.,..: ....... ~..~ ....... : -,,~' .~:~ .... AT~ .~,'~..,.
~/6~ m '
~. ~ ~. ~ .'' ''
.. . . ..~? ?' ... ...
· Substantially the following p~ovi~ons
t~ation' shsll be p~nted on the ~eve~se s~de. of. each.' ' ~nd'~ .,.
· ".. .Th.is bond .may be ~egiste~ed .in the.'.name .off
'any person.'as the registered owner he~eo~;' either' ...'
· -.. as. bo principal only or as to both principal 'and ..''
· .~nlteregt, and,. iff registeredm~ ~e~t~.er, of Said ,-
for~s, may be ohansed to re. giStra.t'~on in. the 'other
.. . oF said Fo~;,,,s or discharBed Fr~m .~egistrat~on.
'mmm ~Ohregistration,, transfer' after Pegistra-.
.. .' rich, change of form.of registration, or discharge
from registration of this bond. sBall be entered .by
· the City .T~easurer ~n books kept for the purpose
· ' and noted by said T~easurer.in. the registration ·
..' blank below. Registration as.to-.principal only
.. shall not .affect the negotiability by delive~of
· the.~ouponB Pertainins hereto. UPOn
mm mas bO both princ~p&l and interest, all unmarried
coupons pertaining hereto shall b~'stu-~endered...
..... bo the City T~easurer.and may be prese.~ved or
· ' Cancelled in the discretion oF said T~easq~er.' ..
mmm. mm m ..... So, ll0ngas this-:bond islreg~ste~ed~'no brans-.
· Fer hereof shall.be va~id flor any purPoSe unless
made by.the registered owner and entered and
..: noted as he~e~n prov~ded,..and the principal hereof
.. and any redemption p~emivm shall b~ payable only
bo the'registered..owne~, o~ to his o~der~ Interest
.on this bond, iF registered as to both'principal
.. and ~nberest~ shall be payable ~o the .person whose
name appears upon the regis.try books as
.... feted owner hereof at' the close o~.business on
the tenth day preceding the ~nteres~'payment'd~tej'
'. " or'~o h~s order. IF this bond is.registered as-
'bo bo'th'pr~nc~pa~ and interest a~d its'~eg~sq~a-
.. : .' t~ %s ohansed to registration.as to p~inc~pal
~' only~ or iF. it ~s discharged f~o~
· there shall be attached hereto coupons rep~esent-
'' in~ interes~ hereon .to become due'thereafter to
the date oF matu~ity hereoF. In lieu thereoF,
..and'upon surrender and cancellation hereo~, the .
· . City T~easurermay ~ssue ~n exchange hereF~ra '
i'.. ' ...... ~.ew_.bond,. with.such.coupong, attached, .ide~ti-ca~ .... ' ......... : ...... ~....
with. this. bond, except For.the p~evio~s notations ..
On the registration blank hereon, and except that
· -'" the sl'~natures on the.new'bond shall be. those
.... :" off the'pe~sons' hold~n&, the O£f~oes at the t~ '..
of 'a£.~lxln&'.-sUch s~Kna.tureso Tl~e ~ssuance. of
an~r such new bond or new coupons 'shall be at
· '.-:~'*-;-':'". expense o£ 'the registered owner° ·
~oli 'd~scharge hereof ~'~o~ rel~stration ·shall
-'. be .effected. by an entry on the ref;2Otry' boolcs.,
and a notation ~n the"b, lank below~ that. th~s bond
~s pa. 7able' .to bearer, whe~upon th~s bond Sha!~. '
"' becoe~ 'an .unr.eg;lste~ed bearer. ~nst~ument~ nea;ot~
able b:F.. delivery aa ~l' ~t had never been
tei-ed. Each request For registration, '.trans£e~,
'" ohan&e or disoharae must be ~n £o.~n.
.. to the Clt~r'.Tr~asurer. and must' be minds ~n
s~&ned 'bT. the re&istered owner., or b~r h~8 a&ent
.. dul,T authorized In wr~t~n&~, or b:Y tho bearer, aa
the case nu~r be.
" .. Date of Tn ~lhose N_--me Manner. of 'S~tur~ of
· Rel~strat~on Rez~ste.~.e..,d.' I~e&~strat~on. . . C~t~r..
Unless this.bond ma~u~es on or. prior.to
January l, 1976, it is redeemable prior to
ma. tu~lty in accordance with .the. provisions
" for redemption endorsed hereon.
coupon] ·
If the bond to which this coupon is
attached is ~edeemable and ~s duly
called for rede?tion on a date
prior to the matu~ltTdate, of this
coupon, this.couponwill be vo2d.
PROVISIONS FOR I~EDEMPTION
" Unless this bond matures on or pr~o~ to
January 1, 1976,1t is redeemable in the
manner and subject to the terms and provisions,
.. and with the effect, set forth in Ordinance
.N6.1593 N.'S'. (adopted by the Cltu Council of ·
said'city on December 29,1965 .4 at the option
· ' of said City Council on January 1, I976," . · ..
or on.any interest payment date· thereafter·
.prior to maturity, upon at least thix~cyi.(50)
days' prior'notice in a financial newspaper
or Journal of national circulation, published
in the City and 3tare of New York, at a redemp-.
.. tlon px~lc~ equal to the principal amount ·hereof,
· plus acqrued interest, plus.a premium equal to
1/4 of l~'for each year or fraction of a. year...
from the 'redemption date to the maturSty date of
the bond, but in no event shall the premium
exceed 3~[ '"'
.. .. .Section 6 · The bonds· maturing on or prior to
· .'January l, 1976, · shall· not .be subject to call or re-
demption prior to ~atU~lty~ The bonds· matu~i.r~ on or a~ter
ffanuary l, i977, or. any of them, may be Called be£ore
maturity and redeemed at the option o£ the C. lty Council of
said·city on J. anuary 1,' 1976, or On any lnte~es.t payment"
date thereafter prior to maturity, 'at a redemption price
.for each redse~able bond equal t~ the p~incipal amount
thereof, plus accrued intere~'t,, plu~., a premium equal to 1/4 .~
· of 1% for each year or fraction of a year' from· the re~emp- "
tion' date to the maturity date of the 'bond,' but in 'no event
sh~l'l the premium exceed ~f .-i,...~.
Ail 'or any.of the bonds subject to ca. ll' may .b.e ·called
for redempti, on at any one tlm~. If les's .~han. all of the
ho'rids are redeemed at any .one ti.me., such binds shall be
"' re'deemed only in inverse order of matu~l, ty and
be.gi, nnl~ with the highest numbered bond.. The interest
payment date on which bonds ·which a~e called· are to b.e
· presented f~r redemption is herelnaf, ter sometimes ·called
t~e "redemption dat~.'" ..
.... ' ........ "' 'S'ectlSn '7 . N0~l'ce o'f the ln~eflded'.redemptlon
shall be published by one (1) publication· l~ a financial
.newspap.er or 'Jou~nal of national circulation,, published
m In the City. and Sta~e of New York, said publication to 'be
at least thirty (SO) days but not more than sixty. (60)
_.days pr. lot to 'the redemption:date. 'The notice of-redemp-.
'"' tics shall (a).state the redemption date;· (b') state the
'm~ i redemption. Price; (c) state the n~ubers and dates of
[maturity 'of the to'sds to be redeemed; pPovided, however,
t.hat whenever 'ar~. call includes all of the bonds of a
.ma. tu~ity, the numbers of such maturity need not be stated;·
'(d) require .that such bonds be surrendered wi. th all in'
.terest coupons maturing subsequent to the redemp2ion date
· - (eXcePt. that no coupons need be surrendered on bonds
· ~egiste~ed as' to both .principal and interest): at the office of. the City Treasurer of said city in Bakersfield, C~.lifornia,' or
· '..at.t~{e option, of the holder thereof, at the main office of
" B~nk of America National Trust and Savings Association, Los Angeles
or' SM Francisco, .6aliforuia, Jr" fiscal agent .of the city In
Chicago, Illinois, or New York,· New York,
(e) require that bonds which at the time of call are regis-
tered .so .as. to be 'payable other than: to behrgr"shAll be
accompanied by' appropriate instruments of assignment duly
executed .in blank; and (f) give notice .that further inter-
est.on such bonds will not accrue afte~ the'desi .snared ·
redemption date.
If any of the bonds designated fop redemption
shall be registered so aa to be payable otherwise than to
bearer, the City 'T~easu~er shall, 'on or before the date o~.
the publication of said notice of redemption,..mail a similar
notice, postage prepaid, to the respective registered owners
thereof at the addresses appearing on the bond registx-~ books.
'. .The actual receipt by the holder of any bond (herein-
a.fter.refex-~ed to as "bondholder#') of notice 'of ·such redemption
shail .not be a condition .precedent to.redemption, and fall-
u~e to receive such notlce sh~il not affect the' valldlty
· "' Off the p~oceedln~s for the rede~tlon o~ such ~nds or. the
cessation of Interest' on the date fflxed ~o~ ~ed~tlon.
s~ll.'be given .~ the Clt~ ~eas~er, A certificate ~ said'
., ~ c0n~ZuslVe as.a~lnst all.parties; and.no.~ndholder whose
.. registered ~ Is called 'for ~ede~tlon ~ay object thereto
" o~ object to the eessatt0n of Interest'on the ~e~tlon. date
fixed '~ any. eial~ e~ sho~ t~t he failed to aet~ll2 ~e-' ::~::..(..
.'eetve Such ·notice of call and ~ed~tlon. ""'
... Section 8. P~lor to the tl~e the City ~cll
de~e~lnes t0 call ~d redeem any of said ~nds there
~ established In the treas~ 'of said city a Red~t[on ~nd
to ~. described or kno~ as "~ZCZPAL ~ROV~NT B0~S,. 1~66,
R~~[0N' ~"(herel~fter somet~es referred to as "Rede~tton
. and prior' to the .'publication of the ~tlce of a redempttbn
· ' there ~st ~ set aside In said Red~tlon ~d ~neys avai'l-
able: fo~. ~he p~ose and ' sufficient 'to ~edeem, at the p~ml~s
~ble as tn .this ~esolutton p~v!ded, the bonds desisted
ln. such notice of ~ede~tlon. ~ld ~neys ~St be se~ aside
in said f~d solel2 fo~ t~t p~se .and s~ll be applied on
or 'afte~ the ~ede~tton date to' pa~nt (prlne!pal and prell)
for the ~nds to be' ~ede~ed ~0n p~esentatlon and s~ende~
· 'P~lncl~l ~d lnte~st)'all lnte~st cou~ns ~t~l~ after
the red~tlon date, and s~ll ~ Used onl[ for t~t
13.
. . .:...:.,, .... ,: ...... ,,.
Any 'Interest coupons due' on or prior to the redemption
date ,shall be pa. ld £r~m the .Interest.,.and Redemption Fund
provl.d, ed for here.l.n, upon p~esent, at!on .and s.tmrende~, thereof.
An~ interest due on or prior to the redemption date upon
bonds registered-as .'to both' prtnctpa'l 'and' interest shall be
paid..f .r~m said Interest Fund. E~ch bond p~esented (if un-
registered or.registered as to principal only) must 'have
attached .thereto' or presented therewith all' interest· coupons
matu~lr~ after the redemption date. If a. fter all of the
· . bonds have. been redeemed and cancelled or paid and cancelled
there are ~oneys remalnl~ 'in said' Redemption Fund, said
m.o. neYs shall be t~ansfer~ed to the general f~nd of said cttyj
p~0. vtded, .however, that if said moneys are. part of the p~o-
eeeds of refunding bonds, said moneys shall be transferred
to the fund created for the pa~naent of' principal o.f and'
lnteres~ on such refunding bonds.
Section 9. · ~hen notice of redem~tion .has been
given, substantially as p~ovided for hereln~ and when the
amount necessa~ for the redemp.tlon of the bonds called for
?edemption (principal and premium)' is set aside for that
purpose.in the 'Redemption Fund, as p~ov~ded for here~n, the
· . bonds designated for redemption shall become d~e. and pa~able.
.. on' the date fixed .for redemption thereof, and upon pres. en- ·
ration and stmr~nder of. said bonds and (except as to bonds
.registered as to both principal and Interest.) all Interest
coupons ~turin~ .after the redemption date, at the Place'
bonds b'e ~egiste~ed, upon the appropriate assignment there-
of In blank,' such Bonds shall be redeemed and paid at sald
~ede~p~lon price out o£ the Red .e~pt.,ion Fund, and no interest"
will .accrue on such., bonds .called..for -reden~l:/ti~n 'or' on 'anat. ·
in suoh notice, and the holders off' said '.~nds sO '.called .for "."?."
redempt+on after such redemption ·date shllll 'look 'fO1~ the
pa~nent Of .such bonds and the premium there~n 'only. tom SSld
Redemption .i~ad, '~ll bonds redeemed' and all 'intereSt c~upons.
th®l'eo£' 'slaail .~e .cancelled .'forthw'~ th' l:~r' the Ci~'.'l~e&sm,~
and shall not be reissued.
· Ail interest coupons .pertaining to any .~edeemed
bonds, which coupons have matured on or Ir~ior to ~he t~me."
fixed' for r~demption, shall continue to be pa~.bl..e to the
respective holders thereof but ~thout interest'thereon.
Ail unpaid inter~st parable at or prior to the date fixed
· . for'iredemption upon bonds registered in such' manner that
the interest is payable only to 2he registered owners shall
continue .to be payable to the respective registered owners
of. such bonds, or their order, but without interest thereon.
Section 10. That any of said bonds may be .regis'- ...
· tered either' as to principal only or as 't$"both principal and
interest, and the. 'form of registration of .any 'registered bond
may .be' changed' or any registered bond m~y be' discharged, from
registration, in the m~_ner and with the' effect', set forth in~ "'-'"" '
· ..'the provisions for registration contained in the form of bond
set forth herein.
.. Sec~i.on' 11. That the Ci.ty 'Cler~ shall certify to
{he passage .and' adoption of this ordinance by a vote of' at
· . ··least two-thirds of all. the members of 'the. City Council of
said ~ity, and 'shall cause this ordinance to be published'
· ·once in THE BAKERSFIELD CALIFORNIAN, a news~'aper Of general
c'irculation in said city.
Section 12. That theCity clerk· sha~l cause .a copy
of this 'ordinance to .be posted as provided in Section 1 of
Ordinance No. 527 N.S. Of said city. ..
Section'13. This ordinance shall.' take ·effect 'thirty
m m I ( S O) days after .its adoption.
ADOP~E.. D, SIGN~. AND ApPrOVED this 2~-h day of"
.. Bakersfield,. California.
ATTEST:
~ ~'~ .. · . .. '...::...'.....'-.,:,..~~~'~:.:....-:',.
· . . ... .. ....?.....;.. .. ·
STATE OF CALIFORNIA. ... ' ,., ,, ...
" . COUNTY OF' KERN" SS ' :'" "'"~"'
· ' ' C~TY OF' · ]~AI~:~,~TW.I~D ''". '"' ""':"~:" "...." '. ~:~'~"'"~' ', '.. "':
· .. . .- ... ..': .. ':%'.~
. . .' · . . . '. ·. o · ·. · . . . ...:~ :~.. .....
· . ; ''~'
".."' · I, MARIAN. S. -IRViN.. . ,. City Clerk 'o.~.. ".
· ' 'the. 'C~ty of .~a~ersrle±a .. , Call£orn!a~. DO HEREBY . '.:. ' ':.
... CERTIF. Y that ~he ..foregoing o~di. nance was intr.0duoed-and' .. '..'.,.
'~ead: at a. 'regular .~eet:~ng' of the City 6- ""
· Council du-~y held on ~he .13th day of '' December , 19~_~ "'"
" ' a~d t~ereafter: at a regular,mee~ln$ of ..... -'. ,.'.:-'.~.
'said. City. Council du-"ry hel.~, on l;ne. ~ day. of.
" 196__5 ', was reread, duly passed'and ~ed.bY..'.s.a~]~ ~.' .'
':." · .Council and sisned and. 'approved by 'the Mayor.o£.'Said '~..~Y, .'. ., ?:..'..i..:'
· and. t. hat said o~.dlnance was passed and. adopted, bY a vote of "'~"'"
' '.' more than two-thirds of ·the.members of said':Cl'ty Counoi.1,'
· '.. :to wl~: .. ' '.. , ..
". .. ' A~rE~q :.. Com'lcllmen Balf~,n~. ! .. Doo.lin
" ...Park, RuCker~ Stiern/'WhAtte~ore .
"' " NOES: C~uncilmen None .'. · "'-:,.' :.
:' ".. · ABSENT: .Councilmen None · -':~ ' '.. ': .. · ..... .:" '~.-'''''':
"iSEAL) '
Bakersfield, C&~ifornta. " '" ·
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STATE OF C~,?.TFORNIA,~ ss.
County of Kern }
MARIAN S. IRVlN, 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 ............................... J~lll~..~L ......................... ,19t~t.. she posted on the Bulletin Board
at the City Hall, a full, true and comet copy of an ordinance passed by the Council of said City
at a meeting thereof duly held .on .................. ..D~..~.~..]ze...r......2..0.. .................. , 19.~.~.., which ordinance
was numbered .............. .1...5...9..3.. ............... New Series, and entitled:
AN ORDINANCE OF THE CITY OF BAKERSFIELD,
CALIFORNIA, PI~OVIDING FOR THE ISSUANCE
OF MUNICIPAL IMPROVEMENT BONDS OF SAID
CITY IN THE AliOUNT OF $1,125,000.
Subscribed and sworn to before me this
...2..1...s..t....day of ............... ...~....c...e..=...b...e..r.. ........... , ~e...6...5...
Notars. Public in and for the Counts. of Kern, State of Callicrn|a
' ~ WALTER W. SMITH !..
NOTARY PUBLIC-CALIFORNIA [
PRINCIPAL OFFICE IN i
KERN COUNTY I
WALTER W. SMITH
My Commieslon Expires June 8, 1969