1930 (#2159-2271) - Laserfiche WebLink

Home Browse Search

California, in and for the County of Orange, for the condemnation of the property necessary to be taken for the acquisitions herein ordered, and described in Section i of said Resolution of Intention No. 2184, and to do all things necessar' to prosecute said action to final determination. 5. That the public interest and necessity require, and it is hereby ordered that the City of Santa Aha, plaintiff in the said condemnation action, take immediate possession and use of the property herein ordered to be acquired, upon complying with the requirements of law applicable thereto, and that the said City Attorney report to this City Council the amounts of money required therefor as soon as the same can be ascertained. 6. That to defray the expenses of the acquisitions herein ordered bonds will be issued to the total amount of the same; that the interest rate to be paid on all acquisition bonds and inm~ediate possession bonds, if any, which shall be issued under these proceedings shall be issued at a maximum rate which shall not exceed eight percent (8~) per annum, payable semi-annually, the exact rate of interest at which such bonds are to be sold to be determined at the sale of such acquisition or immediate possession bonds, the first interest payment to be made on the 2nd day of January or the End day of July (whichever month first succeeds the date of the bonds) next succeeding one year after the date of such bonds, and the aggregate principal of all bonds issued to be paid and discharged within thirteen (13)-years after the date of issuance, approximately one-tenth of said aggregate principal to be paid annually, all in gold coin, and that a special fund for the payment of said bonds will be constituted by the levy of special assessment taxes upon the lauds within the Assessment District according to the assessed value of said lands, exclusive of the improvements thereon, and in the manner provided by the provisions of the said Act under which said acquisition proceedings are had and t~cen, the first pa~ent on the aggregate principal of all bonds issued will be made three years after the issuance thereof. __ 7. That the proceedings for said acquisztzon shall be had and taken _ under and in accorRance with an Act of the Legislature of the State of California, known and designated as the "Acquisition and Improvement Act of 1925", approved May 23, 1925, and amendments thereto, and said bonds shall also be issued in accordance with the provisions of said act. The foregoing Resolution was duly and regularly passed and adopted by the affirmative vote of the City Cotuucil of the City of Santa Aha, at a regular meeting thereof held on the-19th day of ~ay, 1930, by the following vote, to-wit: AYES, TRUSTEES: NOES, TRUSTEES: ABSENT, TRUSTEES: J. L. ~cBride, W. J. Stanley E. Goode, F. None Kelly, B. 0. Sutton, L. Purinton. None (SE~!~L) . ATTEST. E. L. Ve~ely 'Clerk of the City of Santa Aha.