NS-1132 - Laserfiche WebLink

Home Browse Search

ORDINANCE NS-1132 OF THE CITY COUNCIL OF THE CITY OF SANTA ANA, CALIFORNIA, ORDERING, CALL- ING, PROVIDING FOR AND GIVING NOTICE OF A SPECIAL ELECTION TO BE HELD IN SAID CITY ON NOVEMBER 7, 1972, FOR THE PURPOSE OF SUBMITTING TO THE QUALIFIED VOTERS OF SAID CITY PROPOSI- TIONS TO INCUR BONDED INDEBTEDNESS BY SAID CITY FOR CERTAIN MUNICIPAL IMPROVEMENTS, AND CONSOLI- DATING SAID ELECTION WITH THE GENERAL ELECTION TO BE HELD ON SAID DATE WHEREAS, at a meeting held prior to the meeting at which this ordinance is adopted the City Council, by a vote of at least two-thirds of the members thereof, adopted a resolution determin- ing that the public interest and necessity demand the acquisition and construction of certain municipal improvements, and making findings relating thereto; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA ANA DOES ORDAIN AS FOLLOWS: SECTION 1: That a special election be held and the same is hereby called to be held in the City of Santa Ana on November 7, 1972, for the purpose of submitting to the qualified voters of said city the propositions hereinafter set forth of incurring indebted- ness and issuing bonds of said city therefor, in the respective principal amounts stated in the respective ballot propositions here- inafter set forth, and for the respective objects and purposes set forth in said resolution and in said ballot propositions. SECTION 2: That the respective estimated costs of the respective municipal improvements described in the ballot proposi- tions hereinafter set forth are as follows: Proposition Estimated Cost A $2,681,000 B $4,988,000 C $4,642,500 That in each case the estimated cost of said municipal im- provement includes the following: (a) legal or other fees inci- dental to or connected with the authorization, issuance and sale of the bonds, and (b) the costs of printing the bonds and other costs and expenses incidental to or connected with the authorization, issuance and sale of the bonds. SECTION 3: That the maximum rate of interest to be paid on each said indebtedness shall not exceed the maximum rate per- mitted by law, to wit, seven per cent (7%) per annum, the actual rate or rates of interest on said bonds to be determined at or prior to the time of the sale or sales thereof. Said interest shall be payable semiannually except that interest for the first year may be payable at the end of said year. SECTION 4: That the polls for said election shall be opened at seven o'clock A.M. on the day of said election and shall remain open continuously from said time until eight o'clo¢k P.M. of the same day, when said polls shall be closed, except as pro- vided in Section 14436 of the Elections Code of the State of Calif- ornia. -1-