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RESOLUTION NO. 2389 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA. <br />ANA, DETERMINING THAT THE PUBLIC INTEREST AND NECESSITY <br />DEMAND THE PROCURING OF FUNDS FOR THE PURP0~E OF <br />INVESTMENT ON THE PART OF THE CITY OF SANTA ANA IN <br />1915 STREET IMPROVEMENT BONDS NOW DELINQUENT AND OUT- <br />STANDING~ OBLIGATIONS OF SAID CITY~ AND THAT THE COST <br />THEREOF WOULD BE TOO GREAT TO BE PAID OUT OF THE <br />ORDINARY ANNUAL INCOME AND REVEEIrE OF THE MUNICIPALITY, <br /> <br /> WHEREAS, the said City of Santa Ana is now confronted with a delinquency in <br />tt~ 1915 Street Improvement Bonds at this time, amounting to over Two Hundred Thousand <br />Dollars ($200,000); and <br /> <br /> WHER~iAS, the City of Santa Aha is confronted with a general obligation on its <br />part to raise funds to take care of the delinquencies under said I915 Bonds as aforesaid <br />and <br /> <br /> WHEREAS, the public need and necessity require the procuring of funds as an <br />investment in said 1955 Street Improvement Bonds, so as to relieve the City from con- <br />tempSated litigation concerning said 1915 Street Improvement Bonds; and <br /> <br /> WHEREAS, it is considered a good investment and of great benefit to the City <br />to acquire said 1935 Street Improvement Bonds now delinquent and outstanding against <br />the said City of Santa Aha: <br /> <br /> NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES of the City of <br /> <br />Santa Aha: <br /> <br /> (1) That public interest and necessity demand the calling of an election for <br />the purpose of voting bonds as an investment to take care of the 1915 Street Improve- <br />ment Bonds now delinquent and outstanding against the said City of Santa Aha. <br /> <br /> (2) That the cost of such investment in said 1915 Street Improvement <br /> <br />Bonds~ as aforesaid~ will be too great to be paid out of the ordinary income and <br />revenue of the City of Santa Ana. <br /> <br /> I HEREBY CERTIFY the foregoing to be a full, true and correct copy of <br />Resolution No. 2389, introduced and adopted at a regular meeting of the Board of <br />Trustees of the City of Santa Ana, held on the 16th day of July~ 1934, by the following <br /> <br />vote: <br /> <br />AYES, TRUSTEES: <br /> <br />NOES, TRUSTEES: <br /> <br />ABSENT, TRUSTEES: <br /> <br />A.F.LeGaye, Fred C. Rowland, W.H.Penn, Plummet W. <br />E. G. Warner. <br /> <br />None <br /> <br />None <br /> <br />BI'tU~ s s <br /> <br />ATTEST: E.L. Ve~el~ <br /> Clerk of the City of Santa Aha <br /> By: Erma Keeler, Deputy <br /> <br />(SEAL). <br /> <br />3 <br /> <br /> <br />