HomeMy Public PortalAboutOrd. 0094r�
ORDINANCE NO. .
AN ORDINANCE OF THE CITY
FOR THE ISSUANCE OF BOND,
AMOUNT OF $50,000.00 FOR
STRUCTION AND COMPLETION
IMPROVEMENT, TO - 1NIT : THE
HALL BUILDING.
OF LYNGVOOD PROVIDING
3 OF SAID CITY IN THE
THE ACQUISITION, CON -
OF A CERTAIN MUNICIPAL
CONSTRUCTION OF A CITY
WHEREAS, pursuant to Resolution No. 396 and
Ordinance No. 90 of the City of Lynwood, a special election
was duly and regularly held in said city on the 22nd day of
October, 1927, at which election there was submitted to the
qualified voters of said city the following proposition, to-
wit:
Shall the City of Lynwood incur a bonded debt
of Fifty Thousand Dollars ($50,000) for the
purpose of the acquisition, construction and
completion by the City of Lynwood of a certain
municipal improvement, to -wit: The construction
of a city hall building for the purpose of houe-
ing offices of the various city officials and
employees, and fire fighting equipment and per-
sonnel?
and
WHEREAS, said proposition received the affirmative
vote and assent of more than two- thirds of all the qualified
voters of said city voting at the said election and the said
city is now authorized to issue bonds in the amount and for
the purpose hereinbef ore specified:
NOW, THEREFORE, the City Council and Board of
Trustees of the City of Lynwood do ordain as follows:
Section 1: That bonds of the City of Lynwood,
in the sum of Fifty Thousand Dollars ($50,000.00), be issued
and sold for the purpose set out in the recital hereof. Said..
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Said bonds shall be designated "City Hall Bonds, 66 1927 ".
66
Said bonds shall be sixty -six
( 1 in number, numbered from
one (1) to sixty -six
(66 ), inclusive, and all of the odd
numbered bonds beginning with bond numbered one (l shall
be of the denomination of One Thousand Dollar )
each and b s 01,000.00)
bond numbered sixty -six (66) shall be of the de-
nomination of One Thousand Dollars ($1
numbered bonds 1 All even
from number two 2
( ) to number sixty -four (64)
both inclusive, shall be of the denomination of Fi
Dollars Ve Hundred
0500.00) each. All of said bonds shall be date
December 1, 1927 d
and shall bear interest at the rate of five
per cent (5%) per annum
Payable se mi - annually on June first
and December first of each year. Said bonds shall ma
numerical order Fifteen Hundred Dollars tune in
from 01500.00) annually
and including December 1, 1928, to and includin December
1 ' 1959, and Twa Thousand Dollars g Fiber
0 on December 1
1960. Both P and
p interest of said bonds shall be pay_
able in lawful money of the United States at the of
City Treasurer of Of fice o� the
the City of Lynwood in said city.
Section 2: That the executive of
The President of the Board of said city, t
Trustees and City Council and
Mayor of
Y said city, and the Treasurer of said city, are
authorized and directed to sign all of hereby
said bonds and the Cit
Clerk is hereby authorized and di Y
directed to countersign said
bonds and to affix thereto the corporate seal of
and the Treasurer of said city is he said city,
hereby authorized and
directed to sign the interest coupons of said bond
printed, lithographed lithographed or e s by his
facsimile signature, and
to number said interest coupons of each of said bonds onds con
e
Section
zo� 3; That all of said bonds shall be issued
in accordance with the provisions of an Act of the
Of the State of Legislature California, entitled "An Act authorizing
the
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incurring of indebtedness by cities; towns and municipal
corporations for municipal improvements, and regulating the
acgzrisitjgn, construction or completion thereof ", which be-
came a law February 25, 1901, and acts amendatory thereof and
supplementary thereto.
Section 4: That said bonds and coupons for the
interest thereof shall be issued in substantially the follow-
ing .form:
UNITED STATES OF AMERICA
STATE OF CALIFORNIA
CITY OF LYNiNOOD
CITY HALL BOND, 1927.
No.
Lynwood, California,
December 1, 1927.
The CITY OF LYNYNOOD, a municipal corporation,
situated in the County of Los Angeles, State of California,
FOR VALUE RECEIVED, hereby acknowledges its indebtedness
and promises to pay to the bearer hereof, at the office of
the Treasurer of said city, in said city, the sum of
Dollars (gip ), in law
money of the United a es of America, on tFie first day of
December, 19 with interest thereon in like lawful money
at the rate five per cent (5/) per annum, payable semi-
annually, on the first days of June and December of each and
every year from the date hereof until this bond is paid, on
presentation and surrender of the respective interest coupons
hereto attached.
r
This bond is issued by the CITY OF LYN1'd00D under
and in pursuance of and in conformity with the provisions of
an act of the Legislature of the State of California, en-
titled: "An Act authorizing the incurring of indebtedness by
cities, towns and municipal corporations for municipal im-
provements, and regulating the acquisition, construction or
completion thereof , which became a law February 25, 1901,
and acts amendatory thereof and supplementary thereto, and
in pursuance of the laws and constitution of the State of
California, and the ordinances of the City of Lynwood, and
is authorized by a vote of more than two - thirds of all the
qualified voters of said City of Lynwood voting at an elec-
tion duly and legally called, held and conducted in said
City of Lynwood, on the 22nd day of October, 1927.
Y
IT IS HEREBY CERTIFIED, RECITED AND DELCARED that
all acts, conditions and things required by law to exist,
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happen and be performed precedent to and in the issuance
of this bond have existed, happened and been performed
in due time- ' fo ra and manner as required by law, and that
the amount o 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.
IN '.VITNESS WHEREOF, said City of Lynwood has
caused this bond to be signed by the President of the Board
of Trustees and City Council and Mayor of said city and by
its Treasurer, and countersigned by the Clerk of said city,
and sealed with the corporate seal of said city, and has
caused the interest coupons hereto attached to be signed
by its Treasurer.
(SEAL)
res en o e our of rus-
tees and City Council and Mayor
of the City of Lynwood, California.
Treasurer of the Lyn-
wood, California.
Countersigned:
Cl erk of e y o
Lynwood, California.
No.
$25.00
On the first day of , 19 , the City of
Lynwood, California, will pay to tFie earer aT the office
of the City Treasurer of said city, in said city, the sum
of Twenty -five Dollars ($25.00), in lawful money of the United
States of America, being the semi - annual interest then due on
City Hall Bond No. dated December 1, 1927.
(Coupon Form)
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Treasurer of e y o
Lynwood, California.
Section 5: That the proceeds of the sale of said
bonds shall be turned over and placed to the credit of a
fund of the City of Lynwood, to be known as "1927 CITY HALL
'1
BOND FUND ", and shall be used exclusively for the acquisition,
construction and completion of the municipal improvement
described in the recitals hereof.
Section 6: That for the purpose of paying the
principal and interest of said bonds, the City Council and
Board of Trustees of the City of Lynwood 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 said bonds are paid, or until there shall be a
sum in the treasury of said city set apart for that purpose
sufficient to meet all sums coming due for the principal and
interest on said bonds, a tax sufficient to pay the annual
interest on said bonds, and also such part of the principal
thereof as shall become due before the time for fixing the
next general tax levy. Said tax shall be in addition to all
other taxes levied for municipal purposes and shall be col-
lected at the time and in the same manner as other municipal
taxes are collected, and shall forthwith be turned over and
paid into a fund of the City of Lynwood, to be known as "1927
CITY HALL BOND INTEREST AND BOND REDEMPTION FUND ". Said fund
shall be used for no other purpose than the payment of said
bonds and accruing interest thereof.
Section 7: That the City Clerk shall certify to
the passage and adoption of this ordinance by a vote of more
than two- thirds of all the members of the City Council and
Board of Trustees of said city at a regular meeting of said
council and board, and its approval by the President of said
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aw... ... . _ .... .
board and council and Mayor of said city, and shall cause
this ordinance to be published once in the LYN`NOOD TRIBUNE,
a newspaper of general circulation printed and published
in said City of Lynwood.
Section 8: That this ordinance shall take effect
thirty days after the final
passage thereof.
ADOPTED, SIGNED and APPROVED this day of
Octobez
rresid.ent o t e oar o
(SEAL) Trustees and City Counc and
Mayor of the City of L wood,
California.
Attest
Z`Zer`ie -y o
Lynwood, California.
STATE OF' CALIFORNIA )
COUNTY OF LOS ANGELES, )
CITY OF LYNINOOD )
I, C. L. STODDARD, Clerk of the City of Lynwood,
California, do hereby certify that the foregoing ordinance
was introduced at
Council and Board
the 4 day of
_ 00YRed regular -
held on the /
adopted by said cc
anpegular — meeting of the City
of Trustees of said city, duly held on
October, 1927, and was thereafter at a
_meeting of said council and board duly.
_day of vv er, 1927, duly passed and
iuncil and board and thereupon duly signed
am
)i
and approved by'the President of said board and council
and Mayor of said city, and that said ordinance was adopted
by the following vote:
AYES: Trustees : 1w�edu ��1e�L�l i 11C1°/�urraciai[c�
NOES: Trustee: _ f(� ol�1- .
ABSENT: Trustee: : Non e
( SEAL)
er o the City of ynwood,
California.
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