1925 (#764-787) - Laserfiche WebLink

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construed to mean the municipal improvement described in this Ordinance and set £o~th in Resolution No. 1484 of the City of Santa Ana. The estimated cost of the proposed public improve- ment, being the completion of the municipal water works of the City of Santa ^na, is the sum of $1,206,000.O0,and the amount of the principal of the indebtedness to be incurred therefor is the sum of $1,206,000t00, which sum is and will be too great to be paid out of the ordinary annual income and revenue of the City of Santa Ana. The maximum rate of interest to be paid on such in- debtedness shall be and is hereby fixed at five per centum ~r annum, payable seml-annually~ which rate of interest shall not be exceeded in the issuance of bonds for such indebtedness. Section 2. The Board of Trustees of the City of Santa Ana hereby orders the submission of the proposition of incurring a bonded debt by the City of Santa Ana for the. completion of the munici- paS water works thereof in the sum of ~1,206,000.00, being for the objects a~d purposes set forth in Resolution No. 1484 and hereinbefore in tWis Ordinance described, to the qualitifed voters of the City of Santa Anm, and for that purpose an elec- tion is hereby called and ordered to be held at and within the City of Santa ina on Tuesday, the 23rd day of June, 1925, which day is hereby fixed as the da~e on which said election ~ll be held, and the election shall be a special election. At the said special election there shall be and is hereby submitted to the qualified voters of the City of Santa Ana the proposition of incurring a bonded debt by the City of Santa ^na in the sum of $1,206,000.00, for the completion of the municipal water works of the City of Santa Ana. Section 3. The manner of holding such special election and the voting for or against incurring such indebtedness shall be as follows: The proposition of incurring a bonded debt by the City of Santa Ana in the sum of $1,208,000.00 for the comple- tion of the municipal water works thereof, shall be sumitted to the qualifled'voters of the City of Santa Ana by printed ballot. On said ballot the proposition together with the amount of the principal of the indebtedness to be incurred therefor shall be stated, and the ballot used at such elec- tion, except as otherwise provided for in this ordinance, shall be prepared, printed, furnished, and distributed as provided by law for preparing, printing, furnishing, and dis- tributing ballots for municipal elections in the City of Santa Ana.