1922 (#755-899) - Laserfiche WebLink

Home Browse Search

~he interest coupons shall be consecutively numbered from 1 upward on each bond and the interest thereby represented shall' be paid on the 2nd day of January and July in each year, commencing with the 2nd day of January, 1924, provided, that the coupons representing the first payment of interest which shall become due the 2nd day of January, 1924, being six months ~ before the maturity of the first annual series of the bond, shell be for the interest accruing thereon from the 28th day of November, 1922. Bond No. 1 shall constitute annual series No. 1 and be payable July 2nd, 1924, being the second day of July next succeeding nine months after the 19th day of December, 1922, the date of said bonds. 'l~ereafter, on the 2nd day of July each year one additional bond in successive numerical order shall fall due and be paid and shall constitute the annual serles the bonds are to be paid. Fourth. Ail of the bonds shall be for the year in which sold to the highest bidder there- for, but not less than their par and accrued interest at the date of their delivery, and the proceeds of the sale thereof shall be deposited in the treasury of the city of Santa Aha to the credit of French Street Improvement Bond redemption fund, and from which there shall be paid to the contractor or his assigns the balance due him upon the assessment and warrant for the work done and improvement made upon a portion of French Street, including interest upon the principal amount at the rate of seven per cent per annum from the 28th day of November, 1922, and the surplus of such proceeds, if any, shall be credited to said redemption fund for the payment of such bonds$ If no satisfactoty bids are received, or the Board of Trustees determine that the bids received are not satisfactory as to price or responsibility of the bidder, the Board of Trustees reserves the right to reject all bids received, if any, and readvertise the bonds for sale, or deliver said bonds to the contractor or his assigns in satisfaction of the sum due him upon the assessment and warrant. Fifth. The assessment, levy, and collection of taxes in and for the city of Santa Ana being made through and by the County of Orange and the officers thereof, it is ordered that a copy hereof be filed in the office of the A~ditor of the Oounty of Orange, California. I hereby certify that the foregoing resolution and order was regularly introduced before and passed by the Board of Trustees of the city of Santa Ana, at a regular meeting thereof