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HomeMy WebLinkAboutMinutes - May 17, 193524! COUNCIL CHAMBERS --CITY COUNCIL CITY HALL --CITY OF LODI Thursday, September 19, 1935. The City Council of the City of Lodi met in adjourned regular session at 8:00 o'clock P.M. of Thursday, September 19, 1935. The Mayor opened the meeting and the Clerk called the roll. Present: Councilmen, Clark, Grafflgna, Spooner, Weihe and Steele. Absent : Councilmen, None. Resolution No. 797, entitled, "A RESOLUTION OF THE CITY OF LODI, .CALIFORNIA, PROVIDING FOR THE ISSUANCE OF BONDS OF SAID CIT'! FOR THE PURPOSE OF FINANCING THE ACaUISITION AND CONSTRUCTION OF A CERTAIN MUNICIPAL IMPROVEM3NT IN SAID CITY," was introduced on motion of Councilman Weihe, seconded by Councilman Spooner and read at length by the Clerk and considered by the City Council. The said resolution was then passed and adopted by the following vote: -- AYES: Councilmen, Weihe, Spooner, Clark, Graffigna and Steele. NOES: Councilmen, None ABSENT: Councilmen, None RESOLUTION NO. 797. SHEREAS, pursuant to Ordinance No. 212 of the City of Lodi, a special election was duly and regularly held in said city on the 12th day of September, 1935, at which election there was submitted to the qualified voters of said city the following oroposYtlon, to -wit: PROPOSITION: Shall the City of Lodi incur a bonded Indebtedness in the principal amount of $468,000 for the acquisition and construction by the City of Lodi of a certain municipal improvement to -wit: The con- struction of a hydro -electric generating plant, Diesel electric generating plant and transmission line, in- cluding lands, rights of way, easements, dam, penstock, power plant and building, transmission lines, conduits, wires, poles, substations, transformers, dynamos, motors, switches, machinery, apparatus, fixtures, equipment, and other structures, works, rights and properties necessary or convenient to generate electricity to supply said City of Lodi and its inhabitants with electricity for light, heat and Dower? and WHEREAS, said proposition received the affirmative vote and assent of more than two-thirds of all the cualified voters of said city voting at the said election and the said city is now authorized to issue bonds in the amounts and for the Durposes hereinbefore specified: NOW, TIMEREFORE, the City Council of the City of Lodi does resolve as follows: Section 1: That bonds of the City of Lodi in the amount of Four Hundred Sixty-six Thousand Dollars ($466,000), be Issued and sold for the purposes stated in the proposition set forth in the recitals hereof. Said bonds shall be designated °1935 ELECTRIC BONDS". Said bonds shall be Four Hundred Sixty-six (466) in number, numbered from one (1) to Four Hundred Sixty-six (466), inclusive, and shall be of the denomination of One Thousand Dollars ($1000) each; all of said bonds shall be dated October 1, 1935. Said bonds shall mature in consecutive numerical order, as follows, namely: - $13,000 on October 1 in each of the years 1936 and 1937; 14,000 on October 1 in each of the years 1938 and 1939; 15,000 on October 1 in each of the years 1940 and 1941; 16,000 on October 1 in each of the years 1942 and 1943; 17,000 on October 1 in each of the years 1944 and 1945; 18,000 on October 1 in each of the years 1946 and 1947; 19,E on October 1 in each of the years 1948 and 1949; 20,000 on October 1 in each of the years 1950 end 1951; 21,000 on October 1 in each of the years 1952 and 1963; 22,000 on October I in each of the years 1954 to 1956; both inclusive; 23,OCfl on October 1 in each of the years 1957 and 1958; and 24,COO on October 1 in each of the years 1959 and 1960; 250 COUNCIL CHAMBERS -- CITY COUNCIL CITY HALL - - CITY OF LODI Section 2: All of the bonds Drovided for herein shall bear Interest at the rate of four Der cent (4%) per annum, payable semi- annually on the first days of April 1 and October 1 of each year. Both principal and.interest of said bonds shall be payable in any coin or currency which on the respective dates of payment is legal tender for the payment of public and private debts, at the office of the City Treasurer of the City of Lodi in said city, or, at the option of the holder, at NATIONAL CITY BANS, In the City and State of New York, Section 3: That the executive or said city, to -wit, the Mayor or said City, and the Treasurer of said City, are hereby authorized and directed to sign all of said bonds and the City Clerk is hereby authorized and directed to countersign said bonds and to affix thereto the corporate seal of said city, and the Treasurer of said city is hereby authorized and directed to sign the interest coupons of said bonds by his printed, lithographed or engraved facsimile signature, and to number said interest coupons of each of said bonds consecutively. Section 4: That all of said bonds shall be issued in accord- ance with the provisions of an Act of Legislature of the State of California, entitled "An Act authorizing the incurring of indebtedness by cities, towns and municipal corporations for municipal improvements, and regulating the acquisition, construction or completion thereof", which became a law February 25, 1901, and acts amendatory thereof and supplementary thereto. Section 5: That all of said bonds and coupons for the interest thereof shall be issued In substantially the following form: NO. FORM OF BOND UNITED STATES OF AMERICA STATE OF CALIFORNIA COUNTY OF SAN JOAQUIN CITY OF LODI. 1935 ELECTRIC BOND. $1,000.00 The City of Lodi, a municipal corporation of the State of California, hereby acknowledges itself indebted and for value received promises to pay to the bearer (or, if this bond be registered, to the registered owner hereof), on the 1st day of October, 19___' the sum of ONE THOUSAND DOLLARS, and to pay interest hereon at the rate of four per cent (4%) per annum, payable semi-annually on April 1 and October 1 in each year, upon surrender of the annexed coupons as they severally become due (or, if this boad be registered as to both principal and interest, to the registered owner hereof). Both principal and interest of this bond are payable in any coin or currency which on the respective dates of payment is legal tender for the payment of public and private debts at the office of the City Treasurer in the City of Lodi, San Joaquin County, California, or, at the option of the holder, at NATIONAL CITY BANS, in the City and State of New York. For the punctual payment of this bond, with interest hereon as aforesaid, and for the levy and collection of taxes sufficient for that purpose, the full faith and credit of said City of Lodi are hereby irrevocably pledged. This bond may be registered as to both principal and interest In accordance with the provisions on the back hereof. This bond is issued by the City of Lodi for the purpose of financing the acquisition and construction of a certain municipal im- provement, to -wit: a hydro -electric generating, plant, a Diesel electric generating plant and transmission lines, and by virtue of a two-thirds vote of the cualified voters of said City of Lodi voting at an election duly called and, held on the 12th day of September, 1935, and pursuant to the Constitution and Statutes of the State of California, including an Act of the Legislature of the State of California entitled "An Act authorizing the incurring of indebtedness by cities, towns, and municipal corporations for municipal Improvements and regulating the acquisition, construction or; completion thereof," which became a law February 25, 1901, and acts amendatory thereof and supplementary thereto. 251 COUNCIL CHAMBERS - -CITY COUNCIL CITY HALL - - CITY Of LODI It is hereby certified and recited that all the conditions, acts and things required by the Constitution and Statutes of the State of California to exist, to have happened and to have been performed, precedent to and In the issuance of this bond exist, have happened, and have been performed in regular and due time, form and manner as rea-uired by law, and that the issue of bonds of which this is one, together with all other indebtedness of said City of Lodi, is within every debt and other limit prescribed by the Constitution and Laws of said State. IN WITNESS WHEREOF, the City of Lodi has caused this bond to be signed by the Mayor and Treasurer of the City of Lodi, to be countersigned by the City Clerk of the City of Lodi, and to be sealed with its corporate seal, and the coupons hereto annexed to be signed by the facsimile signature of its Treasurer, and this bond to be dated the 1st day of October, 1935. (SEAL) (SIGNED) G. M. STEELS Mayor of the City of Lodi, California Countersigned (SIGNSD)J. F. BLAKELY (SIGNED) J. HAMILITON DAVIS City Clerk of the City of Lodi, Treasurer of the City of Lodi, Calif. California FORM OF COUPON NO. $20.00 The City of Lodi, a municipal corporation of the State of California, will pay to the bearer on the 1st day of 19_, the sum of TWENTY DOLLARS in any coin or currency which on said date is legal tender for the payment of public and private debts, at the office of the City Treasurer of the Cityof Lodi, San Joaquin County, California, or, at the -option of the holder hereof, at CITY NATIQXAL BANK, In the City and State of New York, being six months' interest then due on Its 1935 ELECTRIC BOND, dated October 1, 1935, and bearing NO. (SIGNED) J. HAMILITON DAVIS Treasurer of the City of Lodi, Calif. (FORM OF REGISTRATION INDORSEMENT) This bond is registered pursuant to the statute in such cases made and provided in the name of and the interest and principal thereof are hereafter payable to such owner. (SIGNED) J. RAMILITON DAVIS Treasurer of the City of Lodi, Calif. Section 5: That said bonds shall be sold by the City Council of said City as it may hereafter determine and that the proceeds of the sale of said 1935 Electric Bonds (exclusive of accrued interest and exclusive of any premium up to but not in excess of $31,640 but inclusive of any such premium In excess of $31,640) shall forthwith be turned over and placed to the credit of a fund of the City of Lodi, to be known as 01935 ELECTRIC IMPROVEMENT FUND" and shall be used exclusively for the acquisition, construction and completion of the municipal improvement described in the Proposition set forth in the recitals hereof. Section 7: That for the purpose of paying the principal and Interest of said 1935 Electric Bonds, the City Council of the City of Lodi shall at the time of fixing the general tax levy, and in the manner for such general tax levy provided, levy and collect annually each year until said bonds are paid or until there shall be a sum in the Treasury of said city set apart for that purpose sufficient to meet all sums coming due for principal and interest of said bonds, a tax sufficient to pay the annual interest on said bonds, and also such part of the principal thereof as shall become due before the time for fixing the next general tax levy. 252 COUNCIL CHAMBERS --CITY COUNCIL CITY HALL - - CITY OF LODI Said tax shall be in addition to all other taxes levied for municipal purposes and shall be collected at the time and in the same manner as other municipal taxes are collected, and shall forthwith be turned over and paid into a fund of the City of Lodi, to be known as 01935 ELECTRIC BONDS INTEEREST AND BOND REDEMPTION FUND." Said fund shall be used for no other purpose than the payment of said bonds and accruing Interest thereof. Accrued interest received on the sale of said bonds shall be deposited in said fund. Any premium received on the sale of said bonds up to but not in excess of 4319640 shall likewise be deposited in said fund. Section 8: That the City Clerk shall certify to the passage and adoption of this resolution by a vote of at least two- thirds of all the members o: the City Council of said City of Lodi at a regular meeting of said Council and to its approval by the Mayor of said City. ADOPTED, SI''dED and APPROVED this 166th day of September, 1935. (SIGNED) G. M. STEELE Mayor of the City of Lodi, Calif. ATTEST: (SIGNED) J. F. BLAKELY Clerk of the City of Lodi, Calif. (S3AL) The resolution was then approved and signed by the Mayor. Resolution No. 799, entitled, "RESOL'U'TION OF THE CITY COUNCIL OF THE CITY OF LODI, CALIFORNIA, ORDERING PUBLICATION OF NOTICE OF SALE OF BONDS" was introduced on motion of Councilman Weihe, seconded by Councilman Graffigna, read in full by the Clerk and considered by the City Council.' The said resolution was then passed and adopted by the following vote: - AYES: Councilmen, Neihe, Graffigna, Clark, Spooner and Steele. NDES: Councilmen, None AB ENT: Councilmen, None RESOLUTION NO. 799 The City Council of the City of Lodi, California, does hereby resolve and it is hereby ordered: 1. That sealed proposals will be received by the City Council of the City of Lodi up to the hour of 8 o'clock p.m. on the 30th day of September, 1935, for the purchase of those certain bonds ordered to be Issued pursuant to Resolution No. 797 duly adopted by the City Council of the City of Lodi on the 19th day of September, 1935, for cash, at not less than principal and accrued interest, said City Council reserving the right to refect any and all bids; and that a certified check drawn by the cashier of a recognized bank payable to the order of the City of Lodi, California, in the sum of 3% of the amount of said bonds shall be required to accompany each bid (except that of any State or Federal agency) as a guarantee that the bidder, if successful, will accept and pay for said bonds in accordance with the terms of his bid when the same are ready for delivery. 2. The Clerk of this Board shall cause notice of the sale of said bonds, stating the terms of sale as hereinabove provided, to be published by one insertion before said date of sale in "The Lodi News- Sentingl,a a newspaper printed and published in the City of Lodi, and he shall cause notice of said sale to be mailed as provided by law, to the State Treasurer and the State Department of Finance of the State of California. ADOPTED, SIG4E'D and APPROVED this 19th day of September, 1935. ATTEST: (SIGNED) J. ? ?LAKELY (SE. -1) (SIGNED) G. M. STEELE Mayor of the City of Lodi. 253 COUNCIL CHAMBERS - - CITY COUNCIL CITY HALL -- CITY OF LODI The resolution was then approved and signed by the Mayor. Mr. J. A. Henning, Superintendent of Public Utilities recommended that immediate action be taken to secure NPA assistance in the extension of public utilities to the newly annexed portion of Hutchins Homestead - Addition. On motion of Councilman Spooner, seconded by Councilman Clark, the Mayor was authorized to sign such an aoolication to the works Progress Administration and the Clerk was directed to execute his certificate - thereto. In the furtherance of Immediate construction of the Cltyts Power Plant Project, the following resolution was introduced and read: RRSOLUTION NO. 800 WHEREAS, in order to relieve unemployment, it is necessary that work on the Lodi Hydro -electric Power Plant Project be initiated with the least delay -possible; and, WHEREAS, the approach of winter may make such work difficult and unnecessarily expensive; and WHEREAS, the Cityts Board of Consulting Engineers in their report and recommendation submitted May 17, 1935 set up the sum of $2,500.00 as necessary preliminary expenses for the construction of said Project, from which sum, $500.00 approximately has been already expended. THEREFORE, BE IT RESOLVED, by this City Council of the City of Lodi that the acting City Engineer be, and he is hereby authorized and directed to immediately proceed with the preliminary surveys and estimates for the construction of said Project and to employ such assistance as he may consider necessary but the total of the expense thereof shall not exceed the sum of $2,000.00 unless specifically authorized by this City Council. It is intended herein that the said total sum of $2,500.00 shall be considered as an advance of bond moneys and that the same.or any part thereof that - may be expended, shall be returned to the General Fund of this City If and when said refund may be legally made. The foregoing Resolution No. 800 was then passed and adopted by the following vote: AYES: Councilmen, Spooner, Aeihe, Clark, Graffigna and Steele. NOES: Councilmen, None ABSENT: Councilmen, None On motion of Councilman Weihe, Clark second, the City Council then adjourned to and until 8:00 o1clock P.M. of Monday, September 23, 1935. Motion carried unanimously. City lerk of the City of dl Zia foregoing ainu.as of an adjourned regular meeting of the City Council of the City of Lodi were read and op.ovad viz. lout -C. iOn at a su s- -:ant =e-3-. In, o f said �;iof Ca it Reid 6cz._ber 7, la 3a. ifay7r of zhe amity 3f Lodi October 7. 1935