Laserfiche WebLink
bonds of said City therefor, in the amount hereinafter <br />set forth, and for the objects and purposes set forth in <br />said resolution and hereinafter stated. <br /> <br /> Section 2. That the objects and purposes for <br />which said indebtedness is proposed to be incurred and <br />bonds issued therefor are as follows: <br /> <br /> The acquisition and construction by the <br />City of Santa Ana of a certain municipal <br />improvement, to wit: a recreation park, <br />consisting of playground areas, athletic <br />fields, tennis courts, swimming pool, <br />baseball diamonds, amphitheater, and other <br />courts for various sports. <br /> <br /> Section $. That the estimated cost of the pro- <br />posed municipal improvement described in Section ~ hereof <br />is the sur~ of three hundred thousand dollars (~300,000.00); <br />and that the amount of the principal of the indebtedness <br />to be incurred therefor is the sum of three hundred <br />thousand dollars (~ZO0,O00.O0); and that the maximu~ rate <br />of interest to be paid on said indebtedness shall not <br />exceed three per cent (Z%) per annum, payable semiannually. <br /> <br /> That if the proposition for the incurring of <br />bonded indebtedness so submitted receives the requisite <br />number of votes, to wit, two-thirds of the votes of the <br />qualified voters voting on said proposition, bonds of s~id <br />City, in not exceeding the principal!~amount stated in such <br />proposition, shall be issued and sold for the objects and <br />purposes set forth in s~id proposition. <br /> <br /> <br />