HomeMy Public PortalAboutOrdinance 321ORDINANCE NO. 321
AN ORDINANCE OF THE CITY OF BEAUMONT,
CALIFORNIA, PROVIDING FOR THE ISSUANCE
OF SEWER BONDS OF SAID
CITY IN THE AMOUNT OF $ 140,000.
WHEREAS, pursuant to Ordinance No. 308 of the
City of Beaumont, California, a special municipal
election was duly and regularly held in said city on the
20th day of October 19 59, at which election there was
submitted to the qualified voters of said city the following
bond proposition, to wit:
SEWER BOND PROPOSITION:
Shall the City of Beaumont
incur a bonded indebtedness
in the principal sum of
$140,000 for the purpose of
the acquisition and construc-
tion by said city of a certain
municipal improvement, to wit:
enlargement of and additions
to the sanitary sewage treat-
ment and disposal plant of
said city, including the
acquisition of all easements,
pipe, pumps, machinery, equip-
ment and other property
necessary therefor?
and
WHEREAS, said proposition received the affirmative
vote and assent of more than two-thirds of all of the
qualified voters of said city voting on said proposition,
and said city is now authorized to issue bonds in the
amount and for the purpose set forth in said proposition;
NOW, THEREFORE, the City Council of the City of
Beaumont, California, DOES ORDAIN as follows:
Section 1. That bonds of the City of Beaumont
California, in the principal sum of $ 140,000 be issued
and sold for the purpose set forth in the bond proposition
in the recitals hereof. Said bonds shall be designated
SEWER BONDS, 1960
shall be one hundred forty
in number,
numbered 1 to 140, both inclusive, and shall be of the
denomination of $1,000 each. Said bonds shall be dated
August 15, 19 60, and shall be payable in consecutive
numerical order $5,000 on August 15 in each of the years
1961 to 1982, inclusive, and $10,000 on August 15 in each
of the years 1983 to 1985, inclusive.
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 City Treasurer of the City
of' Beaumont, California, in said city .
2.
Section 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
facsimile signatures, and the City 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 City Treasurer of said city is hereby authorised 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 of said bonds
consecutively.
Section 3. 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 Beaumont to the credit of
a fund hereby created and designated
"SEWER BONDS, 1960, CONSTRUCTION FUND,"
and the moneys in said fund shall be applied exclusively
to the acquisition and construction of the municipal improve-
ment described in the bond proposition in the recitals hereof,
except as provided in Section 43628 of the Oovernment Code.
Section 4. 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 City Council of the City of Beaumont shall at
the time of fixing the general tax levy, and annually there-
after until said bonds are paid or until there is a sue in
3.
the treasury of said city set apart for that purpose suf-
ficient to meet all payments of principal and interest on
said bonds as they become due, levy and collect a tax suf-
ficient to pay the interest on said bonds as it falls due
and such part of the principal thereof 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 forth-
with be turned over and paid into a fund of the city to
be known as
"SEWER BONDS, 1960, INTEREST AND REDEMPTION FUND."
Said fund shall be used for no other purpose than the pay-
ment of said bonds and interest therealuntil said bonds
and interest are fully paid.
Section 5. That said bonds and the coupons for
the interest thereon shall be issued in substantially the
following form:
4.
City Bonds --Ord.
of I3suance
UNITED STATES OF AMERICA
STATE OF CALIFORNIA
CITY OF BEAUMONT
SEWER BOND, 1960
No. $1,000
The CITY OF BEAUMONT , a municipal
corporation situated in the County of
State of California, FOR VALUE RECEIVED, hereby
acknowledges its indebtedness and promises to pay
to the bearer hereof the sum of ONE THOUSAND DOLLARS
($1,000) on the fifteenth day of August , 19 ,
with interest thereon at the rate of per Cent
( %,) per annum, interest for the firs year payable
ai the end of said year and interest thereafter pay-
able semiannually on the fifteenth days of February
and August 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. Both principal and interest are payable
in lawful money of the United States of America at
the office of the City Treasurer of the City of
Beaumont, California, in said city.
This bond is issued by the City of Beaumont
under and in pursuance of and in conformity with
the provisions of Article 1, 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 Beaumont voting at an election duly
and legally called, held and conducted in said city
on the 20th day of October, 1959.
IT IS HEREBY CERTIFIED, RECITED AND 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 Cali-
fornia.
50
City Bonds --Ord.
of Issuance
City Bonds --Ord.
of Issuance
IN WITNESS WHEREOF, said City of Beaumont
has caused this bond to be signed by the Mayor and
the City Treasurer of said city by their facsimile
signatures, countersigned by the City Clerk of said
city and sealed with the corporate seal of said
city, and the interest coupons hereto attached to
be signed by the City Treasurer by his facsimile
signature, and has caused this bond to be dated the
fifteenth day of August, 1960.
COUNTERSIGNED:
Mayor of the City of
Beaumont, California
City Treasurer or the City or
Beaumont, California
CI1y Clerk of the City of
Beaumont, California
(SEAL)
(COUPON FORM)
On the fifteenth day of
the CITY OF BEAUMONT
California, will pay to the
bearer, at the office of the
City Treasurer of said city,
in said city,
the sum of
in lawful money of the United
States of America, being the
interest then due on its
SEWER BOND, 1960
Dated August 15, 1960.
tify Treasurer or the City of
Beaumont, California
6.
19
No.
Section 6 . 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 of
said city, and shall cause this ordinance to be published
once in the
BEAUMONT GAZETTE
a newspaper of general circulation in said city.
Section 7 . This ordinance shall take effect
thirty (30) days after its passage.
ADOPTED, SIGNED AND APPROVED this llth day of
July , 19 60.
ATTEST:
ce.„
City Clerk of the City of
Beaumont, California
(SEAL)
Mayor of the/•t y o
Beaumont, �� California
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE
CITY OF BEAUMONT
}
ss.
I, BERNICE CONINE , City Clerk of
the City of Beaumont , California, DO HEREBY
CERTIFY that the foregoing ordinance was introduced and
read at a regular meeting of the City
Council duly held on the 27th day of June , 19 60,
and thereafter at a regular meeting of
said City Council duly held on theIt day of J 1
1960 , was reread, duly passed and adopted by said City
Council and signed and approved by the Mayor of said city,
and that said ordinance was passed and adopted by a vote of
more than two-thirds of the members of said City Council,
to wit:
AYES: Councilmen McClellan, Houston, Leeb,
Moore and Allen
NOES: Councilmen None.
ABSENT: Councilmen
None.
City Clerk of the City of
(SEAL) Beaumont, California.