1920 (#639-682) - Laserfiche WebLink

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lees than their par value, and the procee~e~0f s~Ob bonds when sold shall be placed in the municipal treasury of the city of Santa Aha to the credit of its appropriate fund, and s. fund for each of the purposes for which said bonds are to be sold is hezeby created for the re- ception of said moneys and the money in'each of-said funds shat~ be applied exclusively ~o the p~posee a~d objects for Which the ~ame ~as voted and ~ is mentioned in Ordinance No. 6~1 of the city of Santa Ans, Section 1~. ~The Bo~d of Trustees of the city of S~ta ~a as the legislative bra~ch of said~ city ~hal~, at the time of fixing the general tax levy, and in the manner for such general tax levy provided, levy and ~nually collect each ye~ ~til ~l said bonds ~e paid, or until there shall be a s,~ in the treasury of the city of Santa Aha set apsrt for that p~pose to meet all s~s coming due for principal ~d interest on said bonds, a tax sufficient to pay the semi- ~nu~l interest on such bonds ~d ai~o such a part of the principal thereof ss shell become due before the time of fixing the next general tax levy. The taxes herein required to be levied and collected shall be in addition to all Other taxes levied for m~icipal p~po~ee, ~d shall be collected at the e~e time and in the same manner as other m~ioipal taxes ~e collected, ~d shall be placed'in the m~icipal ~ream~y of the city of S~ta Ana in f~de separate from each other and separate from all other f~de therein, ~d'seid Sep~ate fund~ shall be desig- nated ~d known ~y some appropriate designation, principal and interest redemption f~nd, which f~ds are hereby created for the.reception of said tax, and the same shall be used for no other p~poee th~ the payment of said bonds~ and accruing interest. ' The Clerk of %he City of Santa Aha is hereby instructed under ~d p~suant %o Sec. 6~ of %he Pqlitical Code of the S~ate of California, when said bonds ~e re~dy for s~le, to forthwith by m~il, postage, prepaid, notify the State Bo~d of Control ~nd State Treasurer of the Stets of California at the capital theroqf of such iaauence ~d e~le of the bonds here- in mentioned, specifying the purposes for which said bonds w~e voted, the ~o~t of the total issue, the denomination of each bond, showing the date of i~ue ~nd date of maturity, the rate of interest, showing when ~d where payable, the assessed venue of the property upon which said bond~ ~e a lien ~d the total amount of all other bonded indebtednee~ which i~ a lien upon said property; ~n~ b~ I~ further hereby i~structed to advertise for ~s]e a!] o~ ~id bonds end require a certified check of two per cent. o~ the ~ount o~ the bid, certified by a re- eponaible bmnk~ ~d each person presenting a sealed bid for the purchase of smid bonds, sccord~- lng to the Notice oF S~le, to hereafter be published ~der the direction of the Board of Trust- ees of the C~ty of Santa Ana offering bonds for sale. Section 1~. The~above ~d foregoing Resolution No. 661 was passed and adopted o~ thi~, the 2nd day of Au~st, ~920, by the Board of Trustees of theCity of Santa Ana, and on said day st~ed and approved by John C. ~itchell, President of th~ Bo~d of Trustees,[~he e~me being passed by the affirmative vote of the following named members of the Board of Truztee~, to-wit: 192o. A~TE~ Ayes: Trustees J. ~. Tubbs, C. H. Chapman, John G. ~itchell. Noes: Trustees, None. Absent: vTrustees, None. The ~bow~ ~n~ foregoing Resolution No. 661 Dele, .~. A. Greenleaf and is spproved by me thia 2nd d~y of August JoNm G. Mitchell of tbs Board of Trustees of the Oity of ~.~nta Aha. President