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HomeMy WebLinkAboutORD NO 119 ORDINANCE NO. ll~ · An Ordinance declaring the result of the special election held in the City of Bak~r'sfield on March 2§, 1907 and providing for the issue, sale arid-redemption of bonds cf the said city in accordance with the result of said special election,f' Whereas, this board did at a regular meeting held on the 4th day of ?ebruary, 190~, adopt a resolution declaring and determining that the public interest and necessity de~.~ands the acquiring and. con- structing of a main and Outfall Sewer System, together with disposal plant and site or tract of land upon which the same may be located and constructed, and that ~said main and outfall Sewer System, together with disposal plant and. site or tract of land upon which the same ',lay be located and constructed, are necessary and convenient to carry out the objects, purposes,, and the powers of the City of Bakersfield, and to pro~.~o~e the sanitary con.d.i~ions of-said city, .a~n.d $~e__health of the inhabitants thereof and. which are to be used for municipal purposes by the said City and the inhabitants thereof; and V~hereas, this Board did. at a regular meeting held on the 20th day of February, A. D. 1907, by an ordinance then adopted bY ~t least two thirds of this board, and approved by the president of said board, call a special election and submit to the qualified electors of said city of Bakersfield 'the proposition of incurring a municipal indebtedness of One Hundred and Twenty Thousand Dollars for the pur- pose of acquiring and constructing, a Main and 0utfall Sewer System, together with disposal plant and site or tract of land upon which the same maybe located and constructed, are necessary and convenient to carry out the objects~, purposes~ and the powers of-the City of Bakers- 'field, and to promote the sanitary' conditions of said city and the health of the inhabitants thereof and which are to be used for munici- pal purposes by the said City and the inhabitants thereof, and fixing .March 2~., 1~07 as the date for holding said election; and Whereas, said election has been held as provided by law, and the ordinances of this city after due and legal notice, and the election board having canvassed the votes cast at said election and deposited their returns thereof with the City Clerk, and this board having canvassed said return; now therefore, The Board of Trustees of the City of Bakersfield., do ordain as follows: Section 1. It is hereby declared that at said special election held on March 25th, 1907, at which the proposition of incur- ring a municipal indebtedness of One Hundred and Twenty ·Thousand Dol- lars for the purpose of acquiring and constructing a main and 0utfall '. Sewer System, together with disposal plant and site or tract of land upon which the ssmle may be located and constructed, and that said main and .outfall Sewer System, together with disposal plant and site or tract of land upon which the same may be located and constructed, are necessary and convenient to carry out the objects, purposes and powers of the City of Bakersfield, s. nd to promote the sanitary condi- tions of said City and the health of t?2 inhabitants thereof and which are to be used for municipal purposes by the said City and the inhabi- tants thereof, was s. ubmi.tted to the qualified electors of said city, the whole number of votes cast by the electors voting thereat was 591; that the whole number of votes cast in favor of the proposition of in- curring said municipal indebtedness was 499; that the whole number of votes cast ~.gainst the proposition of incurring said municipal in- debtedness was 91; and t~ whole n~u, ber of votes rejected was none; that 499 electors voting at said electi'on, that number being more than two thirds of all of the electors voting at said election, having voted in favor Of incurring said municipal indebtedness of One Hundred and Twenty Thousand Dollars by said City of Bakersfield and the issuance of the bonds of said city to that amount therefor, for the purposes above mentioned, is'~d~c~r~'d to be determine~,' accepte~ ~nd authorized. Section 2. The City of Bakersfield shall incur an indebted- ness of One Hundred and Twenty Thousand Dollars for the object': and. purpose of acquiring and constructing a Main and 0utfall Sewer System, 2 together with disposal plant and site or tract of land upon which the same may be located and constructed, and that said main and outfall Sewer System, together with disposal plant and site or tract of land upon which the same may be located and constructed, are necessary and convenient to carry out the objects, purposes, and powers of the City of Bakersfield, and to promote the sanitary condition~ of said City and the health of the inhabitant~ thereof and which are to be used for municipal purposes by the said City and the inhabitants th~ereof. Section 3. Bonds of. said City of Bakersfield evidencing said'indebtedness shall be issued in the amount of one hundred and twenty thousand dollars, of the number', denomination and character hereafter designated. ~ection 4. ~or the purposes above ~amed there shall be issued one hundred and twenty bonds, eond said bonds shall be issued in the denomination of one thousand dollars each. Said one hundred and twenty bonds shall be numbered consecutively from one to one hun- dred and twenty inclusive. Said bonds shall be payable in United ~tes Gold ..Ce&a at the office of the Treasurer of the City of Bakers- field. Attached to each bond shall be interest coupons, each coupon being for twenty two~ dollars and fifty .c~nts, and.said interest coupons shail be payable in United States Gold Coin' at the office 'of the Treasurer of said City of Bakersfield. Section 5. Said one hundred and twenty bonds shall be pay- able in the n~nner following: Three of said bonds on the following date, to-wit; the first day of Nay, 1908; and.three of said bonds in numerical order on the sa~,e day"and date of each and every year there- after unti~l all' of said bonds are paid, at the City Treasury of said City, together with the interest on all sums unpaid on said date. Said ......... bon'ds--sha-l'l'cease to bear-int-erest--unle-ss-presented at maturity for payment. Each of t?~e interest coupons above mentioned shall represent one half year's interest due on the bond to which it is attached, and shall be payable to bearer, and the number of coupons attached to each bond shall be equal to twice the n~u,ber of years the bond has to run before due. Section 6. The form and language of said bond shall be sub- stantially as follows: UNITED STATES 01~ AUF_~ICA State of Cal-ifornia. · Bond No. $1,000. S~ BOND of the City of Bakersfield.' On tile first day of May, A. D. 19, the City of Bakersfield, a municipal corporation, incorporated under the laws of the State of California, for value received,· hereby· promises to pay to the bearer at the office of. the Treasurer of .said ·City in the City of Bakersfield, Cou~nty o..f Kern, State of California, the susa of one thousand dollars in go~d°coin of t~e United States, with interest thereon in like g~t~b. / c.oin'f.rom the. date hereof at the rate of four and one half·per cent· .per annu~n, payable semi-annually, at the ·office of ths ·Treasurer 'of" said City on the first days of November and'~'ay of each year upon the presentation and ·surrender of the proper interest coupon hereto attached. This bond is one of one hundred and twenty of like date, · ·tenor and effect issued by the City of Bakersfield, for the purpose of acquiring and constructing a main and outfali sewer system, to- Eether with disposal plant and site or tract of land upon which the same may .be located and constructed, and that said main and outfall · Sewer system, together with disposal P. lant 'and site or ·tract of land Upon which the sanle .may be located and constructed, .are necessary and convenient to carry out the objects, purposes and. powers of the City ....... bf-'B~Ee~sfi'etd-'*i'- a-nd' .to*.-pr'Omote the sanitar.y .c.ondttions_..of. said. C_i.-t~. - 'and the heal'th of the inhabitants thereof and which are to' be used · for municipal purposes by the said City and the inhabitants thereof, .. and ·is issued ·under and in pursuance of and in conformity with an Act of the Legislature of 'the State of California entitled, "An Act authorizing the incurring of indebtedness by Cities, Towns, and Muni- cipal Corporations for Municipal improvements and' Regulating the Acquisition, Construction and Completion. thereof" in effect February .2§, 1901. ~ And it is her. eby certified, asserted and declared that this bond is issued in pursuance of and in conformity with the constitution and laws of the State of Califo~'nia, and the ordinances of' the City of Bakersfield, and in pursuance and ·in conformity with a vote of more · than two-thirds ·of .all the qualified electors of said City of Bakers- field .Voting at a special election duly and regularly called and'held in said city as provided in said act, on the 2§th day of March, notice .thereof having been duly and regularly given and published in the mann&r and for the period required by law. It is further certified and declared that all the provisions and requirements of the constitution ·and laws of the State of Calif- orn.·.ia',·'.and·of the ordinances of said C~ty Of Bakersfield, have been duly, regularly and fully complied With by' the' proper officers of' said city in the issuance of this bond; and thettotal indebtedness of the City of Bakersfield, including the indebtedness evidenced by this issue of bonds does not exceed the limit prescribed by the constitu- tion and the laws of the State of California. This bond ceases to bear interest unless presented at maturity for payment. In witness whereof the said City of Bakersfield, by its Board of Trustees, has caused this bond to be' signed by the president of its Board of Trustees, and Treasurer of said City, and to be counter- eig~.ed...:by, its-said Clerk, and has caused its City Clerk to affix hereto· the corporate seal of the. said City of Bakersfield, this 1st day of May in the year .of our Lord one thous~nd~ninehundred and seven. President of the Board of Trustees of .the ·City of Bakersfield. Treasu~'er of the City of Bakersfield Countersigned The interest coupons attached to said bonds shall be sub- stantially i.n the following form and language: · Coupon No. $ 22.50 SEWER BOND NO. of the City of Ba~kersfield', ..,~.: .... ..... .. .. .... On the 'fi'rst day of .. ~.. .. .... , 19 , the. city of Bakersfield will pay to the bearer hereof at the office'of the Treasurer of said City in the City of Bakersfield, 'County of Kern, State of California, the sum of twenty two dollars and fifty cents, .gold coin of th~' United States, for semi-annual interest to that ·date ,.-.,.. upon its Sewer Bond No. Dmted May 1st, 1907. · .... · ... ;..;.." . . . : .... · ' section 7. The' Presi~ent.'":of' the. Beard of TA~us. tees,.the,.~.~.................~../~ Treasurer and the Ci'ty Clerk of the said City of Bakersfield are here- by authorized and' directed to sign .and execute ail said bonds as of the date of 1st day .of May, 1907, and said 0ity Clerk is authorized and direc~e~ to affix to each of said Bonds. the, corporate seal 'of said City of Bakersfield, and the staid Treasurer re-sign all said interest coupons in substantially the manner and form prescribed in section 6 of this ordinance, And the acts of each of them in so doing are hereby declared and shall be construed to be both for his official self and .. f'or ..the said ·City· of. Bakersfield. The Conunittee'on Finance of the Board of Trustees is hereby authorized and directed to supervise the printing and execution of s~id bonds and coupons. · said Board of Trustees .at not less than their par value, and at either 'public or private sale, with or without further notice. The proceeds of. the' sale' of sai~ bonds or any of t h~m, shall be Placed in the Treasury of said city to the creditJ'of the fund hereby designated ~nd to be known as Sewer Bond Fund Nu~zber One. .,.. Section 9. The legislative branch of said city shall at. the time of fixing the general tax.levy, and in the manner for such general tax levy provided, levy and collect annually each year, .until the bonds herein provided for are paid, or until there shall be a sum in the .Treasury of said city set apart for that purpose to meet all sums ·coming· due for principal and .interest on such bonds, ~ bax suf- ficient to pay the annual interest .upOn 'such bonds, and also such par. t of the principal thereof as shall become due before the time for fixing the next general tax levy. The ·taxes herein provided for and required to be levied and collected shall.be in addition to all other taxes levied for municipal purposes, and shall be collected at the s'.~me .ti,':,e and in the same manner as other municipal taxes are collected, 'and shall be used for no other purpose than the pay~ent of said'bonds and accruing interest. Section 10. This Ordinance sh.~.ll take effect from and 'after its final passage, appr. ov~l and publicati, on,' and shall be pub- lished'by being printed in the. DAILY CALIFORNIAN, a newspmper printed in said ·City 'of Bakersfield, according to law. Passed by the following vote this ~ ~ ' ~ day of April, A. D. 1907. Ayes: Trustees ~~~__ · Noes: Trustees ~~' . . ~. ~~:E~' Absent:. Trustees _'~: ~-~.~ ~ , ~k~' ' · l~ ' ~ ' ~ '~. ~ ~'~ ~-~ ~ '" t . . ~ .~ .~' ~ ~/~:' - .. · _. . .. .... "-d~'~ 'c~r~-~~Lc~ o~. ~er.~....:.. _.. ....... ..: .....