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No. $ <br /> <br /> On the first day of ~ 19 , the City <br />of Santa Ana, California, will pay to ~earer at the <br />office of the Treasurer of said City, in said City, the <br />sum of dollars ($ ), in lawful <br />money of the United States of America, being the semi- <br />annual interest then due on Municipal Improvement Bond <br />No. , dated July l, 1946. <br /> <br /> Treasurer of the City of Santa Aha, <br /> California. <br /> <br /> SECTION 4. That the proceeds of the sale of said bonds shall be <br />apportioned and placed in funds as follows: <br /> <br /> 1. One-third (1/3) of said proceeds shall forthwith be turned over and <br />placed to the credit of a fund of the City of Santa Aha, to be known as "1946 <br />STREET IMPROVEMENTS BOND FUND", and shall be used exclusively for the acquisition <br />and construction of the municipal improvement described in Bond Proposition No. 1 <br />in the recitals hereof. <br /> <br /> 2. Twenty-three sixtieths (23/60th) of said proceeds shall forthwith <br />be turned over and placed to the credit of a fund of the City of Santa Ana, to be <br />known as "1946 STORM DRAIN BOND FUND", and shall be used exclusively for the <br />acquisition and construction of the municipal improvement described in Bond <br />Proposition No. 2 in the recitals hereof. <br /> <br /> 3. One-fifth (1/8) of said proceeds shall forthwith be turned over and <br />placed to the credit of a fund of the City of Santa Ana, to be known as "1946 <br />SEWER CONSTRUCTION BOND FUND" , and shall be used exclusively for the acquisition <br />and construction of the municipal improvement described in Bond Proposition No. 3 <br />in the recitals hereof. <br /> <br /> 4. One-twelfth (1/12) of said proceeds shall forthwith be turned over <br />and placed to the credit of a fund of the City of Santa Ana, to be known as "1946 <br />SANTIAGO CREEK FLOOD CONTROL BOND FUND", and shall be used exclusively for the <br />acquisition and construction of the municipal improvement described in Bond <br />Proposition No. 4 in the recitals hereof. <br /> <br /> SECTION 5. That for the purpose of paying the principal and interest <br />of said bonds, the City Council' of the City of Santa Ana shall, at the time of <br />fixing the general tax levy, and in the manner for such general tax levy provided <br />levy and collect annually each year until said bonds are paid, or until there shal <br />be a sum in the treasury of said City set apart for that purpose sufficient to <br />meet all sums coming due for the principal and interest on said bonds, a tax <br />sufficient to pay the annual interest on said bonds as the same becomes due, and <br />also such part of the principal thereof as shall become due before the proceeds <br />of a tax levied at the time for making the next general tax levy can be made <br />available for the payment of such principal. Said tax shall be in addition to <br />all other taxes levied for municipal purposes and shall be collected at the time <br />and in the same manner as other municipal taxes are collected, and shall forthwith <br />be turned over and paid into a fund of the City of Santa Ana, to be known as "1946 <br />MUNICIPAL IMPROVEMENT BONDS INTEREST AND REDEMPTION FUND". Said funds shall be <br />used for no other purpose than the payment of said b~nds and accruing interest <br />thereon. <br /> <br /> SECTION 6. That the Clerk shall certify to the passage and adoption <br />of this ordinance by a vote of more than two-thirds of all the members of the City <br />Council of said gity at an adjourned regular meeting of said Council, and its <br />approval by the Mayor of said City, and shall cause this ordinance to be published <br /> <br /> <br />