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ij59 <br /> <br />(The use hereafter in this Resolution of the words "municipal improve- <br />ment" is intended to mean, does mean, and at all times and places <br />shall be held and construed to mean the completion of the sewer system <br /> <br />of the City of Santa Aha, ~cluding the outfall sewer.) <br /> Section 2. <br /> <br /> The bonds of the City of Santa Aha having been duly aUtho- <br />rized shall be issued and sold in the sum of $182,000.00 which is the <br />principal of the indebtedness to be incurred by the City of Santa Aha <br /> <br />for the described municipal improvement. <br /> Section 5. <br /> <br /> The sum of $182,000.00 indebtedness shall be represented by <br />one hundred eighty-two (182) bonds, each in the denomination of <br />$1000.00, numbered from 1 to 182,both inclusive, all dated the 1st day <br />of July, 1925, and shall be paid as follows: <br /> <br /> On the 1st day of July, 1927, seven (7) of said 182 bonds, <br />being bonds Nos. 1-2-~-4-5-8-7, shall be paid, and on the 1st day of <br />July, 1928, seven (V) of said 182 bonds, being bonds Nos. 8-9-10-11-12 <br />1~-14, shall be paid, and annually thereafter on the first day of each <br />succeeding month of July six (6) additional of said 182 bonds shall be <br />paid, until all of said bonds, both principal and interest, shall have <br />been well and truly paid, being an annual payment of not less than <br />one-fortieth part of the principal of said indebtedness in the sum of <br />$182,000.00. <br /> <br /> Section 4. <br /> <br /> The rate of interest to be paid on said indebtedness is here. <br />by fixed at five per cent. per annum, payable semi-annually, on the <br />first day of January and July after the date of said bonds until all <br />of said bonds are paid, and which is not in excess of the ma~mum rate <br /> <br />of interest recited in Ordinance No. 795. <br /> Section 8. <br /> <br /> Both the principal and interest shall be paid in gold coin <br />of the United States, and at the office of the Treasurer of the City <br /> <br />of Santa Aha, in said City, County of Orange, State of California. <br /> Section 6. <br /> <br /> The bonds representing said indebtedness shall be substan- <br />tially in the following form: <br /> <br /> "No. Series No. <br /> <br />UNITED STATES OF AMERICA <br /> <br /> State of California <br /> <br /> City of Santa Aha <br /> Sewer Completion Bond <br /> <br /> BE IT KNOWN that the City of Santa Ana, in the County of <br />Orange, State of California, hereby acknowledges its indebtedness to <br />the bearer of this bond in the sum of one thousand dollars ($1000.00), <br />gold coin of the United States, aud promises to pay the bearer the <br />sum of one thousand dollars in goild coin of the United States on the <br /> <br /> <br />