HomeMy WebLinkAboutCC RES 15RESOLUTON NO. 15
A RESOLUTION OF THE CITY COUNCIL AND BOARD OF TRUSTEES
OF THE CITY OF TUSTIN, CALIFORNIA, PROVIDING FOR THE ISSUANCE
OF $13,000.00 PRINCIPAL AMOUNT OF "CITY OF TUSTIN MUNICIPAL
IMPROVEMENT BONDS OF 1930"; PRESCRIBING THE DATE AND FORM OF
SAID BONDS AND OF THE COUPONS TO BE ATTACHED THERETO; FIIXNG
THE RATE OF INTEREST OF SAID BONDS, AND PRESCRIBING THE
MATURITIES THEREOF; AUTHORIZING THE EXECUTON OF SAID BONDS AND
COUPONS, AND PROVIDING FOR THE LEVY OF A TAX TO PAY THE PRINCIPAL
AND INTEREST THEREOF; AND PROVIDING FOR THE SALE OF SAID BONDS.
all the requirements of law have been complied with
in c~lling and holding the consolidated general municipal
election and special bond election held in the uity of 'i'ustin
on the lgth day of z~pril, 19~0, at which election the proposition
to issue bonds of said ~ity in the principal sum of ~l~,O00.O0
for the purpo~e of acquiring, constructing and completing the
following municipal improvements of said uity, to-wit. For
the purchase and acquisition of modern fire apparatus ~.znd
equipment and the purchase andacquisition of ;.t, afzd'?'for the
purpose of constructing a fire hall, thereon and the purchase,
acquisition and construction of a fire hall, and furnishings
and equi'pment for said fire hall, was submitted to the voters
of said uity; and the Oouncil of ~aid uity did meet and canvass
the re~urns of the said election on ~onday, the ~lst day of ~pril,
19D0, (said day being the first monday after said election;,
and did as the result of such canvass determine snd declare,
and do hereby certify, that said propesition received at said
election the affirmative vote of more than two-thirds of all of
· ~he voters voting at said election, and was thereby carried and
adopted by said election, and the issuance of all said bonds by
said uity was duly authorized;
.,..'-'.0;'~, '"'"~"~-'_n.~,~ ~E,,.", D~ iT RESOaVED by the oity uouncil and
Board of 'z'rustees of the uity of 'z'ustin, as follow~-
Section 1. 'i'hat the bonds of the uity of '~'ustin in the
aggregate principal sum of ~1~,000.00 be known as the
"City of Tustin ~uni¢ipal improvement oonds of 1950", shall
issue to pay the cost of purchase., ~-~cquisiti.on,~ construction
and completion o-~' the ±'ollowing municipal ilaprovements of said
City, to-wit. '~'he purchase and acquisition of modern fire
apparatus and equipment -~.~.nd. the purchase and acquisition of land
for the purpose of constructing a fire hall thereon and the
purchase, acquisition ~nd construction of a fire hall, and
£urnish~ngs and equipment for said fire hall, ,
Section I~, '~.'hat said bonds shall be issued as hereinafter
set forth.. ~aid bonds sh~l..[ be neg":tiable in £orra, and of the
character know~':t as serial, and shall be thirteen 113) l~.'~ number,
numbered consecutively from I to 13, both i:~clusive, of the
denomination of $1,000.00 each. ~.'~ll of said bonds shall bear
interest from their date until paid at the rate oJ~ five I~ per
cent. per annum, payable semiannually, which interest shall be
evidenced by coupons attached to each bond. ~.:ach o±~ said coupons
shall represe~.t six months' interest on the I:}ond go whiel~ ig
s~al± be a~tache,~'j.. '~'he principal a~xd. interest of said. bonds sh~ll be
payable at the office of the '~.'reasurer of said city of '~.'ustin
in lawful money of the united States of America. ~atd ~onds shall
be daged ,July l, 1930, and shall mature and be payable in con~
secut lve numerical order from lower to higher, one Il) '~ond on
July 1st in each of the years 1931 to 19~, both inclusive. ~aid
interest coupons shall be payable on the 1st day of 0'anuary and
the 1st day of ,July in each year until and at the respective dates
of maturity of said bonds, the first coupon on each bond being
payable oanuary 1, 19~1.
Sec.tio. n....3.._.: Said bonds shall each be substantially in the
following form, the blanks in said form and in the form of coupon
.~..:iven below, to lae filled with r~ppropriate words or figures,
name ly I' '
UNITED STATES 0F AMERICA STATE 0~ CALIF0.~IA
CITY OF TUSTIN MUNICIPAL I~PROV~[EN',, ,~ ~ BONDS 0~ 1930.
No. _ $1,000.00
~or value received, the 0ity of ~usttn, a munie£pal x
corporation organized and existing under the constitution and
laws of the ~tate of California, hereby aoknowledges itself
i.r~debted and promises to pay to t~he bearer herof on the 1st day
of 0uly, 1931, $1,000.00 with interest thereon a~ ~.:he rate of
five I5) per cent. per annum, payable semiannually., on the 1st
days of ~nuary and ~lly of each year, on presentation and sure
surrender of the coupons hereto attached as they respectively
become due; both principal and interest being payable in lawful
money of the united States of America at the office of the
-reasurer of said 'z'own.
This bond is issued under and pursuant to the constt-
tut ion and statutes of the State of California, and under and
pursuant to ordinances and proceedings of .said uity duly adopted
and taken and a vote and assent of more than two-thirds of all
the qualified electors of stid Town, voting at a special election
duly and legally called and held for that purpose.
It is hereby certified., recited and declared that all
acts, conditions and things req"~.ired by law to exist, happen and
to be performed precedent to and in the issuance of this bond
have existed, happened and been performed in due time, form and
manner as required by law, and that the amount of this bond,
together with all other indebtedness of said ~ity does not exceed
any limit prescribed by the constitution or statutes of said
state or the charter of said ~ity and that provision has been
made as required by the constitution and statutes of said state
for.the collection of an annual tax sufficient to pay the
principal of, and interest on, this bond as the same becomes due.
The full faith and credit of said ~ity are hereby pledged for the
punctual., payment of the principal and interest of this bond.
IN WITI~E$S WHi~.!ilEOF, Said City of 'Tustin has caused this
bond to be executed under its corporate seal, signed by its ~ayor
and Treasurer, and countersigned by its Clerk, and has caused the
interest coupons attached to be signed by its .z'reasurer, and this
bond to be dated the 1st d~:~y of ~uly, 1930.
'~aY0r'- ~0f .... the CitY '-jf-'f'~s'tYh''~ ' .............
~Trda-sur~er 'bf -t~he "~6ity .... $ f 'TUSt in;:-~ '
Countersigned:
C ~ e'r~~f ~ he' C it ~/ o f- TUS~i'n.-
The interost coupons sh~ll, be. signed .by.~the Treasurer
·
of said City, by his engraved or. lithogr.'..-~ph, ed signature, and
~'hall be substantially in the following form:
(Porto of Coupon~
No. _- .......... , ..... $~5. O0
On the 1st day of ~anuary, 1931, the City of Tustin,
Orange County, State of California, will pay to bearer at the
office of the ?reasurer of said City, twenty-five ~25) dollars
in lawful money of the united 5tates of America, being six
~onths' interest then due on its ~unicipal improvement Bonds
'-~e~s~r~r-~o~h~ 'b~y~~Tust in
Section 4__t For the purpose of paying the p~incipal and
interest of said bonds the ~ouncil of said uity of 'z'ustin shall,
at the time of fixing the general tax levy and in the manner for
suc~ general tax levy provided, levy and collect annualy each
year, until such bonds are paid or until there shall be a sum
in the treasur~ of said ~ity set apart for that propose, to meet
all sums coming due for principal and interest on said bonds, a
tax sufficient to pay the annual inberest on said bonds, and also
such part of the principal thereof as shall become due before
the time for fixing the next g'eneral tax levy; provided, however,.
that s~ch tax shall be levied ~nd collected at the time and in
the manner aforesaid, annually each year sufficient to pay the
interest on such indebtedness aS it falls due and also to consti-
tute a sinking fund for the payment of the principal thereof on
or before maturity.
Said tax shall be in addition to all other taxes levied
for municipal purposes, and shall be collected at the same time
and in the same manner as other municipal taxes are collected,
and as collected sha~l be forthwith paid into the fund for which
the same was levied and collected. Such fund shall be designated
as "t~unicipal improvement oonds of 1950"Interest and oinking Fund",
and all sums to become due for the principal and interest on said
bonds shall be paid from such fund,
Section ,5. The ~ayor of the said u. ity of "~'ustin and the
~reasurer of said uity of ~'ustin are he."eby authorized and
..
'~~ directed respectively .as. such...of£~.icers, to. sign.each of said
bonds on behalf of said City, and the ~ity ~lerk is hereby
authorized and directed to countersign e~ch of said bonds and
to affix the corporate seal of said Oity thereto; and the said
Treasurer is hereby authorized and directed to sign each of the
interest coupons, either by his own hand or by lithorgraphed or
engraved facsimile signa~t~re; and such sign';ng, countersigning,
and sealing shall be a sufficient and binding execution of said
bonds and coupons by said ~ity.
Section 6. There is hereby created and established a
fund to be known as the "R~unicipal zmprovement Bonds of 1930
Interest and ~inking ~k~nd", which shall be kept by the '~'reasurer
of said Oity; and all proceeds of sale of any of said bonds shall
be placed by the '~'reasurer to the credit of said fund, and shall
be applied exclhsively to the acquisition, construction and
completion of the aforesaid municipal improvements.
Section ....7. '~'he City ~lerk is directed to cause to be
lithographed, printed or engraved a sufficient n~unber of blank
bonds and coupons of suitable quality, and to cause the blank
spaces thereof to be filled in to comply with the provisions'.
hereof, and to procure their execution by the proper officers,
and to deliver them, whan so executed, to' the 'z'reasurer of said
City, who shall safely k,.~ep the same, and thereafter he shall
deliver them to the purchaser or purchasers thereof, on receipt
of the purchase price as hereinafter set forth.
·
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Section 8. And the city clerk is further ordered and
- -- Iii _ ,
directed, as the clerk of this u. ouncil, to ca~se a notice of
the sale of said bonds to be published in The Tusttn ~ews, a
newspaper printed and published in the city of ".'ustin, county
of Or~nge, State of california, for the period of three weeks
to-wit, three successive issues of said paper; that this City
Council and ~oard of '~'rustees will, up to the 3Oth day of ~une,
1930, at 7-30 o'clock ~. ~i. of said day, receive sealed proposals
for the purchase of said bonds, or any portion thereof, for cash,
at not less than par, and accrued interest; the board of
·
supervisors, however, reserving the right to reject any and all
bids for said bonds.
~ection 9. This Resolution~sh~ll take ~effect from and
after its passage and approvel.
The foregoing resolution and order was passed and adopted
by a vote of ~ members of the ~ity ~ouncil of the 0ity of Tustin,
State of ~alifornia, this 2nd day of June, 1930.
Trustees of the ~ity of 'Z'ustin,
~alifo mia.
Attest
¢'i~Y u~e~k; o-f-th~ uity Of
i~resented to and approved by me this 2nd day of June, 1930.
~-~'or -and- ~es'i~ient:~o~ t'he ~:oa-~d-"O~-
Trustees of the ~ity of '~'ustin,
~alifornia
CLERK'S CERTIFICATE
I hereby certify that the foregoing resolution was
introduced and read at a regular meeting of the Cou$cil of the
City of Tustin, Ualiforni~., duly called and held on the 2nd
day of 0uno, 19~0, and that said resolution was thereafter on the
2nd day of ,June, 1930, adopted and passed by vote of ~ members
of said uouncil, ms follows-
AYES: Councilmen: Logan, nuntley, ~iser
NOES: COUncilmen' None
ABSE~T: Councilmen- Schwendeman.
And · further certify that said resol'~tion was presented
to, and signed and approved by ~. A. Crawford, the mayor of. said
City of Tustin on the £nd day of June, 1930.
~ further certify that the foregoing resolution is
sPread.in full upon the records of the ~ity ~ouncil of the
C~ty of 'z'ustin, ualifornia, at page 34 in Book une of
Reso lut ions.
1930.
WITNESS my hand and the seal 'of said 'i'own this 2nd day of ~une,
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1 '~ adopted by said election, and the issuance of all said bonds b
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MORRIS CAIN
ATiORN6Y•AT•LAW
SANTA ANA, CAL.
said City was duly authorized;
NO11, THEREB~RE, B~ IT RESOL4ED by the City Council and
Board of Trustees of the City of Tustin, as followss
Section 1. That the bonds of the City of Tustin in the
aggregate principal sum of X13,000.00, bo be known as the
"City of Tustin Municipal Improvement Bonds of 1930", shall
issue to pay the cost of purchase, acquisition, construotion
and completion of the following municipal improvements of said
City, to-wit: The purchase and acquisition of modern fire
apparatus and equipment and the purchase and acquisition of land
for the purpose of constructing afire hall thereon and the
purohase, acquisition and construction of afire hall, and .
furnishings and equipment for said fire hall.
Section 2. That said bonds shall be issued as hereinafter
set forth. Raid bonds shall be negotiable in form, and oP the
character known as serial, and shall be thirteen (13) IN number,
numbered consecutively from 1 to 13, both inclusive, of the
denomination of X1,000. each. 411 of said bonds shall bear
interest from their date until paid at the rate of five (5) per
cent. per annum, payable semiannually, which interest shall be
evidenced by coupons attached to each bond. Each of said coupons
shall represent sic monthe~:intere~t on the bond to which it
is attached. The principal and interest of said bonds shall be
payable at the office of the Treasurer of said City of Tustin
in lawful money of the IInited States of America. Said bonds shall
be dated July 1, 1930, and shall mature and be payable in cow
secutive numerical order from lower to higher, one (1) bond on
July lst in each of the years 1931 to 19+3, both inclusive. Said
interest coupons shall be payable on the lst day of January and
the 1st day of July in each year until and at the respective dat
of maturity of said bonds, the first coupon on each bond being
payable January 1, 1931.
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MORRIS CAIN
wrroRtvev.wr•~.ww
SANTA ANA. CAL.
8eotion 3. Baid bonds shall each be substantially in the
following form, the blanks in said form and in the form of ooupon
given below, to be filled with appropriate words or figures,
namely:
UBTITED BTAT~B OF AMERICA
BTATE OF OALIFORDtIA
QITY 08' TUSTIN MUbTIOIPAL Il[PROVEMEDTT BObtDB 08' 1930.
Eo. X1,000.
B'or value reoeived, the Oity of Tustin, a municipal
corporation organized and existing under the constitution and
laws of the State of Qaliforaia, hereby acknowledgOr itself
indebted and promises to pap to the bearer hereof on the 1st day
of July, 1931, X1,000.00 with interest thereon at the rate of
five (5) per cent. per annum, payable semianndial.ly on the lst
days of January and duly of each year, on presentation and sari
surrender of the coupons hereto attached as they respectively
become due; both principal and interest being payable in lawful
money of the United States of America at the office of the
Treasurer of said Town.
This bond is issued under and pursuant to the consti-
tutioa and statutes of the Btate of Oalifornia, and under and
pursuant to ordinances and proceedings of said CJity duly adopted
and taken and a vote and assent of more than two-thirds of all
the qualified electors of said Town, voting at a speoial election
duly and legally called and held for that purpose.
It is hereby certified, recited and declared that all
acts, oonditions and things required by law to exist, happen and
to be performed precedent to and in the issuance of this bond
have existed, happened and been performed in due time, form sad
manner as required by law, and that the amount of this bond,
together with all other indebtedness of said Oity does not eacee~
any limit prescribed by the constitution or statutes of said
state ar the charter of said Oity and that provision has been
made as required by the constitution and statutes of said state
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MORRIS CAIN
ATTORNBY•AT•LAW
SANTA ANA, CAL.
j for the collection of an annual tan sufficient to pay the '
principal of, and interest on, this bond as the same becomes due.
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The full faith and credit of said Oity are hereby pledged for the
II punctual payment of the priao*pal and interest of this bond.
I
I1~ WITNE88 WHEREOF, said Oity of Tustin has caused this
bond to be executed under its corporate seal, signed by its Mayor
and. Treasurer, and countersigned by ite Olerk~, and has caused the
interest coupons attached to be signed by its Sreasurer, and this
bond to be dated the 1st dap of July, 1930.
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Oountersigned:
Treasurer o the. ity o stir...
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er o e. y o s .
The interest coupons shall be signed by the Treasurer
of said Qity, by his engraved or lithographed signature, end
shall be substantially in the following forms
(Form of Oonpon)
Ho. X25.00
On the 1st day of January, 1931, the Oity of Tustin,
Orange Oounty, Btate of Oalifornia, will pay to bearer at the
j office of the Treasurer of said Oity, twenty-five (25) dollars
in lawful money of the United States of America, being aia
months interest then due on its I:unicipal Improvement Bonds
of 1930 No.
reasurer of the itp o st s.
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MORRIS CAIN
ATTORNBY•AT•LAW
SANTA ANA, CAL.
ee_ioa ~. For the purpose of paying the principal and
interest of said bonds the Oouaoil of said City of Tustin shall,
at the time of fining the general tas levy and in the manner for
such general tan levy provided, levy and collect annually each
year, until ev~eh bonds are paid or until there shall be a sum
in the treasury of said City set apart for that propose, to meet
all sums coming due for principal and interest on said bonds, a
tea sufficient to pay the annual interest on said bond8, and also
such part of the principal thereof as shall become due before
the time for fining the neat general tan levy; provided, however,
that such teat shall be levied and collected at the time and in
the meaner aforesaid, annually each gear sufficient to pay the _.
interest on suoh indebtedness as ~t falls due and also to consti-
tute a sinking fund for the payment of the principal thereof on
or before maturity.
Said taz shall be in addition to all other to=es levied
for municipal purposes, axed shall be collected at the same time
and in the same manner a,s other municipal taxes ass collected,
and as oolleoted shall be forthwith paid into the fund for which
the same was levied and collected. Such fund shall be designated
ae MM'unicipal Improvement Bonds of 193o~'Interest and Kinking Fund
and all sums to become due for the principal and interest on said
bonds shall be paid from such fund.
Kection 5. The Magor of the said City of Tustin and the
Treasurer of said City of Tustin are hereby authorized and
directed respectively as such officers, to sign each of said
bonds on behalf of said City, and the City Clerk is hereby
authorized sad directed to countersign each of said bonds and
to affix the corporate seal of said City thereto; and the said
Treasurer is hereby authorized sad directed to sign each of the
interest coupons, either by his own hand or by lithographed or
engraved faAMmil~ signature; and such signing, countersigning,
sad sealing shall ba a sufficient and binding execution of said
bonds and coupons by said City.
5..
1 8eotion 6. There is hereby created and established a
z Ii fund to be known as the "Municipal Improvement Bonds of 1930
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MORRIS CAIN
ATTORNlY•AT•LAW
SANTA ANA, CAL.
Interest and Sinking Hind", which shall be kept by the Treasurer
of said City; and all proceeds of sale of any of said bonds shall
be placed by the Treasurer to the credit of said fund, and shall
be applied exclusively to the acquisition, aonstruation and
completion of the aforesaid municipal improvements.
Bectio_ 7. The City Clerk is directed to cause to be
lithographed, printed or engraved a sufficient number of blank
bonds and coupons of suitable qualitq, and to cause the blank
spaces thereof to be filled in to comply with the provisions
hereof, and to procure their execution ~ the proper offioers,
and to deliver them, when so executed, to the Treasurer of said
City, who shall safely keep the same, and thereafter he shall
deliver them to the purchaser or purchasers thereof, on receipt
of the purchase price as hereinafter set forth.
Section ~. And the City Clerk is further ordered and
directed, as the clerk of this Council, to cause a notice of
the sale of said bonds to be published in the Tustin News, a
Me~rspaper printed and published in the City of Tustin, Countq
of Orange, State of California, for the period:of three weeks,
to-wit, three. successive issues of said paper; that this Citq
Council and Board of Trustees will, up to the 30th da,~ of June,
1930, at 7:30 o~clock P. M. of said day, receive sealed proposals
for the purchase of said bonds, or any portion thereof, for Dash,
at not less than par, and accrued interest; the board of
supervisdrs, however, reserving the right to reject any and all
bids for said bonds.
Sh®tfoae4fli!}~i~~~~dtAon shall take effeQt from sad
after its passage and approval.
The foregoing resolution and order was passed and adopted
by a vote of _,~ members of the City Council of the City of
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32
MORRIS CAIN
ATTORNEY•AT•LAW
SANTA ANA, CAL.
Tustin, State of Oalifornia, this 2nd day June, 1930.
Mayor and President of the Board of
Trustees of the Oity of Tustin,
Oalifornia.
Attest:
(SEAL)
Oity Olerk of the Oity of Tustin.
Presented to aad approved by me this 2nd day oP June,
1930.
Mayor and President of the Board of
Trustees of the Qity of Tustin,
Oalifalcnia.
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OL~RB~ $ O~RTI>RICATE.
00000000
I hereby certify that the foregoing resolution was
introduced and read at a regular meeting of the Council of the
City of Tustin, California, duly called and held on the 2nd
day of June, 1930, and that said resolution was thereafter on the
2nd day of June, 1930, adopted and passed by Dote of
members of said Oouncil', as follows:
Ayes: Councilmen
Ngea: Councilmen: None.
Aba~nt: Councilmen: Q9~~..~,..~,. ~~~ ~,,,,
And I further certify that said resolution was presented
~to, ~d signed and approved by S. A. Crawford, the l[ayor of said
City of Tustin on the 2nd day of June, 1930.
I further certify that the foregoing resolution is
spread in full upon the records of the City Counoil of the
City of Tustin, California, at page _~~ in Book ~_ of
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~/IJ~/.L mot" .
WITNESS my hand and the seal of said Town this 2nd day
Hof mss, 1930.
of the City of Tnatin, California.
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