1913 (#552-565) - Laserfiche WebLink

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49 Treasurer of the City of Santa Ann. Section 6. Any and all bonds issued in pursuance hereof shall bo sold in the manner provided for by tho Board of TrL~teee to the hizhest bidder thereof, for not less than their par value, for Gold ~o~n of the United States, and th~ Bo~rd of Trustees of said city ~A1 at the time of fixing the g~neral tax levy and in the manner for such jeneral tax, levy provided , levy and collect annuml~y each year u~t~l said bonds are paid, or until there shall be a sum. im the treasury of said city set apart for that purp~se to meet all sums com~nz due for principal and interest on such bonds, a tax sufficient to pay the annual interest on such bonds, and a~so such part of the principal thereof ~s shall become due before the t~e for f~xing the next general tax le~J. The taxes'herein re~Auired to be leveled and'collected shall be in addition to all other tax~s levied for municipal purposes and shall be collected at the time and in the same manner ~s other municipal taxss are collected and be issued for no other purposes than the payment of said bonds and accruing inter, st. Sa~d Board shall provide a fund for th~ receftion of moneys derived from the sale of said prospective bonds and also a sinkinz fund for any payment of prineipH1 and imterest on bonds unpaid. Section 7. That the pro~osed indebtedness of Sixty- three Thousand Dollars, ($6~,000) fo~ Water Works improvements Grid Twslve Thousand Dollars, (~lS,000) for ~re Department improvements, and evidenced by said bonds in the aggregate sum of ~75,~0~ in addition to all other indebtedness alread]J in- curred by said city for municipal improvements will not in the ag~rejate exceed fifteen (15) per cent of the assessed valua- tion o~ the real and personal property of the Oity of Santa Ann. Section g. ~Re City Clerk is her~sby instructed to ad- vertise ~or sale, all of said Water Works and Mire Departn~ent bonds and to re~luire a certified check of five (8) per cent of the amount of the bid from each person presentdnz a sealed bid for the purchase of said bonds according to the notice ~ be herea£ter i~ublishsd offsrinj said bond for sale. The Board of Trustees is hereby authorized to sell all of said bonds or a part of said bonds in each of the series, and it may sell said bonds in allot~ente or may reserve a part of said bonds for future sale as said Moard may deter~'~ine in said notice to be hereafter given by said 01erk of said 0ity of Santa Ann. Section 9. Th* City Clerk shall cause this Ordinance to be published once in the "Evening ~lade" a newspaper printed, pun~ished and generally circulated in said title, and thereupon and thereafter it shall take effect and be in force.