1923 (#900-1161) - Laserfiche WebLink

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(2) ~he aggregate amount of the unpaid assessments for the work done and improvement made as briefly described in said Resolution of Intention is (8) Bonds shall be issued upon the security of the un- paid assessments shown on the list thereof as hereinabowe determin- ed for the aggregate principal of the sum of unpaid assessments, to wit: $15,048.M8, and shall be payable in ten annual series on the 2nd day of July of each year mext succeeding nine months after their date until th whole sum of the aggregate principal is paid. Said bonds and each of th~m shall bear inter,st at the rate of V% per annum from the 2~rd day of April, 1928, the date of f~ling with the Clerk of the city of ~anta Ama of the °treat Superintende~ list of unpaid assessments, and until the whole sum of principal and interest is paid. The interest shall be paid semi-annually by coupons on the 2nd day of Jan~ry and July, respectively of each year after the date of the bonds, provided that the first payment of interest shall not be unti] the 2nd dm¥ of January, 1924, being six months before the maturity Of the first annual series of the bonds. The bonds ~nd interest shall be paid at the office of the Treasurer of the city of S~nta Ana, in said city, County of Orange, State of California, and upon the presentation of the proper bonds and coupons, out of the redemption fund, and under no circumstances shall said bonds or interest thereon be paid out of any other fund. A redemption fund shall be kept by the Treasurer of the city of Santa Ana designated West Sixth and Olive Streets improvement bond redemption fund, in which the Treasurer shall place all sums re- ceived from the collection of assessments made for the payment of the cost of the work and improvement, upon w~ich the bonds are issued, and the interest and penalties thereon. Ail of the bonds shall be dated the Vth day of May, 192~, and shall be numbered consecutively from 1 to 20, both inclusive. Bonds numbered from 1 to 10, inc~usive, shall b~ each in the denomination of $1000.00; bonds numbered from 11 to 19, inclusive, shall be each in the denomination of $$04.~8; BondNo. 20 shall be in the denomination of $504.~8. The form of the W~onds shall be substantially as provided by Sec. 8 of the Improvement Bond Act of 191S, provided that the same shall contain the appropriate words and figures to make the smid bonds and the form thereof applicable to the denomination, annual series, and purposes for which the bonds are to be i~sued, as herein set forth. The bonds sba;: be signed by the Treasurer and the Clerk of the city of Santa Ans. There shall be attached to each bond interest coupons representing the payments of semi-annua~ interest accruing and made payable upon the principal of the bonds to which they are attached.