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REGISTRATION: The bonds will be coupon bonds <br />registerable only as to both principal and interest. <br /> <br /> NOT CALLABLE: The bonds are not callable before <br /> <br />maturity. <br /> <br /> PURPOSE OF ISSUE: The bonds were authorized for <br />the acquisition and construction of a public library build- <br />lng with vehicle parking therefor and the planting and <br />landscaping of the library grounds. <br /> <br /> SECURITY: Said bonds are issued pursuant to <br />Article 1, Chapter 4, Division 4, Title 4 (Sections 43600 <br />et seq.) of the Government Code of the State of California, <br />sometimes known as the Municipal Bond Act of 1901. For the <br />purpose of paying the principal and interest of said bonds, <br />said Act requires that the City Council shall at the time <br />of fixing the general tax levy, and annually thereafter <br />until said bonds are paid or until there is a sum in the <br />treasury of said city set apart for that purpose sufficient <br />to meet all payments of principal and interest on said bonds <br />as they become due, levy and collect a tax sufficient to pay <br />the interest on said bonds as it falls due and such part of <br />the principal thereof as will become due before the proceeds <br />of a tax levied at the next general tax levy will be <br />available. Said tax shall be in addition to all other <br />taxes levied for municipal purposes and shall be levied <br />and collected as other city taxes. <br /> <br /> <br />