HomeMy WebLinkAboutMinutes - September 23, 1935254
COUNCIL CHAMBERS -- CITY COUNCIL
CITY HALL - - CITY OF LODI
Monday, September 23,1935
The City Council of the City of Lodi met at 8:00 o'clock P.M. of Monday,
September 23, 1935 pursuant to its adjournwent from the previous meeting of
September 19, 1935. In tipe absence of the Mayor and City Clerk, it was
moved by Councilman Weihe, seconded by Councilman Spooner and carried, that
Councilman Graffigna be elected Mayor pro -tem and Councilman Clark be elected
City Clerk pro -tem. Mayor Graffigna then took the chair and opened the meet-
ing. The Clerk called the roll.
Present: Councilmen, Clark, Graffigna, Spooner and WeLhe.
Absent: Councilmen Steele.
On motion of Councilman Spooner, seconded by Councilman Weihe, and carried,
the reading of the minutes of previous meetings was ordered dispensed with.
Resolution No. 801, being ° A R3SOLUTI011 R3SCINDING RESOLUTION 110.797"
was introduced on motion of Councilman weihe, seconded by Councilman Clark:
RESOLUTION NO. 801.
A RESOLUTION RESCINDING RESOLUTION NO. 797
BE IT P,ESOLV-,D , by the City Council of the City of Lodi, as follows:
Resolution No. 797 heretofore adopted by this City Council on September
19th., 1935 be and the same is hereby repealed.
After consideration of the foregoing resolution by the Council, the
same was passed and adopted by the following vote: -
AYES: Councilmen, Spooner, Wei -he, Clark and Graffigna-
NOES: Councilmen, None.
ABSENT: Councilman, Steele.
Resolution No. 602, entitle* ° A RESOLUTION OF THE CITY OF LODI, CALIF-
ORNIA, PP.OVIDINrr FOP. THE ISSUANCE OF BONDS OF SAID CIT: ?OR THE PURPOSE OF
FINANCING THE ACQUISITION AND CONSTRUCTION OF A CERTAIN MUNICIPAL IMPROVE-
MENT IPI SAID CITY" was introduced by Councilman Spooner, seconded by Council-
man Weihe and considered by the Council after the ware had been read in full
by the Clerk:
RESOLUTION NO. 907-
A RISOLUT104 OF THE CITY OF LOD-T, CALIFORNIA, PROVIDING
BOR THE ISSUAgOE OF BONDS OF SAID CITY FOR THE PURPOSE
OF FINANCING THE AC2UISITION AND CONSTRUCTION OF A CERT-
AIN MUNICIPAL IM.FRCIVE0" IN SAID CITY.
NIMIRE:'LS, 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 Proposition, to -wit: -
PROPOSITION: Shall the City of Lodi incur a bonded indebted-
ness in the principal amount of $466,000 for the acquisition
and construction by the City of Lodi of a certain municipal
improvement, to -wit:- The construction of a hydro -electric
generating plant, Diesel electric generating plant and trans-
mission line, including lands, rights of way, easements, dam,
penstock, power plant and building, ttansmission.lines, con-
duits, 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 lights, heat and power; and
C6' -11771 -AS, said proposition received the affirmative vote and assent
of more than two-thirds of all the qualified 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 ,urposes hereinbefore specified:
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COUNCIL CHAMBERS - - CITY COUNCIL
CITY HALL -- CITY OF LODI
NO?•Y, TFFT_E?SFORn, 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 (34.66,000), be issued and sold for the purposes stated
in the proposition set forth in the recitals hereof. Said bonds shall be
designated "1935-.ECTRIC 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 ($1,000)
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;
169000 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;
19,000 on October 1 in each of the years 1943 and 1949;
20,000 on October.;l in.each of the years 1950 and 1951;
21,000 on October 1 in each of the years 1952 and 1953;
22,000 on October 1 in each o' the years 1954 to 1956 ;
both inclusive;
23,000 on October 1 in each of the years 1957 and 1958; and
24,000 on October 1 in each of the years 1959 and 1960.
Section j All of the bonds provided for herein shall bear interest
at the rate of four per cent (0) 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 NATIOMAL CM BANK, in the City and State of
New York.
Section 3: That the executive of said City, to -wit, the Mayor of
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 accordance 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 acquisitions,
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 MM ICA
STATE OF C.=LIFORNIA
COUNTY OF S."N JOAgUIN
CITY OF LODI.
1935 ELECTRIC BC...D
$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 rea.istared o:,aer hereof),
on the first day of Cctober i9_, the sum of ONE TFOUS.04D 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 bond be registered
as to both principal and interest, to the registered owner hereof). Both
principal and irate -est of this bond are payable in any coin or currency :ahi�h
on the respective ;aces of payment is legal tender for the payment of public
256)
COUNCIL CHAMBERS- -CITY COUNCIL
CITY HALL -- CITY OF LODI
and rrivate de -Its at the office of the City Treasurer in the City of.Lodi,
San Joaquin County, California, or, at the option of the holler, at
'Y 3.;..V,the City and State of -.au York. For .ne pu_ ctua'
payment cf this. bond, with interest hereon as aforesaid, and for the levy
and collection of taxes sufficient for that purpose, the full "aith 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?rove-
ment, 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
qualified 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
i=rove>remts and regulating the acquisition, construction or completicn
thereof," which became a law February 25, 1901, and acts amendatory thereof
and supplementary thereto.
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 required bylaw, 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 WrEKEOF, 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 let
day -of October, 1935.
(SEAL)
Countersigned:
(Signed) J. F. BLr1Kr_.LY
City Clerk of the City of Lodi
California
NC.
(SIGNED) G.M. STA -EI?
Mayor of the City of Lodi, California
(Signed) J. Et-MLTON DAVIS
Treasurer of the City of Lodi
California
(FORM OF COUPON)
$20.00
The City of Lodi, a municipal corporation of the State of California
will pay to the bearer on the let day of 19___, the sum
of TW=Y DOLL.,RS 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 City of Lodi, San Joaquin County, California, or, at the
option of the holder hereof, at NATIONAL CITY 3&a, in the City and State of
New York, being six mo-iths' interest then due on its 1935 =-C4AIC BOIND,
dated Cctober 1, 1935, and bearing NO.
(Si�-ned) T. _HAMILTON CAMS
Treasurer of the City of Lodi, Calif.
(FO?L' OF 33CISTB:iTICN IP_ORSE:,.�T)
19_
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.
Treasurer of the City of Lodi,
California
254
COUNCIL CHAMBERS - - CITY COUNCIL
CITY HALL -- CITY Of LODI
Section 6: That said bonds shall be sold by the City Council of
said City as it :say hereafter determine and that the proceeds of the sale of
said 1935 Electric Bonds (exclusive of accrued interest) shall forthwith
be turned over and Dlaced to the credit of a fund of the City of Lodi, to be
known as •"1935 ELECTRIC II:._OVFLZNT rTMI 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 winner 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 meat all sums coming due for principal and
interest of said bonds, a tax sufficient to Day the annual interest on said
bonds, and also such part of the :rinaipal thereof as shall become due before
the time for fixing the next general tax levy. Said tax shall be in addition
to all other taxes levied for municipal purposes and shall be collected, and
shall forthwith be turned over and paid into a fund of the City of Lodi; to be
;mown as "1935 ELECTRIC BOSS INTh'3.3ST AND BOND ?L'DMIFTION 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.
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 of the City Council of said City of Lodi at a regular meeting of the
said Council and to its approval by the Mayor of said City.
'ter consideration of the foregoing resolution by the Council, the
same was passed and adotted by the following vote: -
AYES: Councilmen, Spooner, Weihe, Clark and Graffigna
NOES: Councilmen, None
ABSENT: Councilmen, Mayor Steele
City Attorney Blest presented the Affidavit of Publication in the
matter of the Notice of Sale of Bonds, and saris was ordered filed.
Resolution No. 803 entitled, "A RESOLUTION COt`ri1S'i5G NOTICE OF
SAL: CF CITY OF LODI'S 1935 EI CTRIC BC,MS," was introduced by Councilman
Spooner, seconded by Councilman Clark.
RESOLUTION NO. 803
RESOLUTION COI I.t�IIi1G NOTICE OF SALE OF CITY
OF LODI'S 1935 ELECTRIC BONDS.
3E IT RESCUED By the City Council of the City of Lodi, as follows:
The action of the City Clerk in publishing and mailing notice of
sale of City of Lodi's 1935 Zlectrie Bonds, all dated October 1st, 1935,
aggregating in principal amount ;our Hundred Sixty-six Thousand ($466,000)
Dollars, and the form of such notice as presented to this City Council be
and the same are hereby approved and confirmed.
The foregoing Resolution No. 803 was then passed and adotted by the
following vote:
.`-,M : Councilmen, Spooner, r"yeihe, Clark and Greffigna
LACES: Councilmen, None
ABSENT: Councilmen, Mayor Steele
COUNCIL CHAMBERS -- CITY COUNCIL
CITY HALL - -CITY OF LODI
The City Attorney brought up the TEtter of the City furnishing legal
opinion regarding the validity of the Bonds and thus strengthening the sale
of same. .after considerable discussion, the following Resolution was
introduced on motion of Councilman Clark, Councilman 'Neihe, second.
RESOLUTION NO. 804
WH Pa -13, at an election held in the City of Lodi on September 12th,
1935, the electors of said City, being more than the necessary two-thirds
majority, authorized the issuance and sale of bonds of said City in the sum
of Four Hundred Sixty-six Thousand ($466,000) Dollars wherewith to acquire
moneys wherewith to acquire and construct a Hydro -Diesel Electric generating
plant and transmission line (and all the necessary works and appliances in
connection therewith); and
?1-ME-RZAS, the City Council of said City of Lodi has this day
passed and adopted its Resolution No. 802 authorizing and directing the
issuance of said bonds;
NOW, TF Z ORE, BE IT RESOI:r1M, By the City Council of the City
of Lodi t'nat said City shall and does hereby employ the firm of Messrs.
Orrick, Palmer and Dahlquist, Attorneys at Law, of San Francisco, California,
to make and render to said City of Lodi and to any purchasers or purchaser
of said bonds the legal opinion of said firm as to the validity of said
bonds.
BE IT FURTHER RESOLVED, That the compensation to be paid said
firm of Orrick, Palmer and Dahlquist for their said services, is and shall
be the sum of One Thousand ($1,000) Dollars, which shall be a legal and
valid charge against said City, and that said opinion shall be furnished
to the purchaser or purchasers of said bonds, without any charge to such
purchaser or purchasers, and at the sole cost and exzense of said City.
The foregoing Resolution No. 804 was then passed and adopted
by the following vote:
AYES: Councilmen, Spooner, Weihe, Clark and Graffigna
DOES: Councilmen, None
ABS -IT: Councilmen, Mayor Steele
On motion of Councilman Spooner, seconded by Councilman Weihe
Resolution No. 305 was introduced and read to the City Council.
RESOLUTION NO. 805
RESOLUTION OF I=CITY COUNCIL OF THE
CITY OF LORI, C',I.L'ORNIA, ORDERING PUB-
LICATION OF NOTICE OF SALE OF BONS.
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. 802 duly adopted by the City Council of the City
of Lodi on the 23rd day of September, 1935, for cash, at not less than
principal and accrued interest, said City Council reserving the right to
reject 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 accordemce
with the terms of his bid when the same are raady for delivery.
2. The Clerk of this Board shall cause notice of the sale of
said bonds, stating the teras of sale as hereinabove provided, to be
published by one insertion before said date of sale in "The Lodi New -
Sentinel," a newspaper printed and published in the City of Lodi, and he
shall cause notice of said sale to be mailed as provided gy law, to the
State Treasurer and the State Department of Finance of the State of California.
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COUNCIL CHAMBERS-- CITY COUNCIL
CITY HALL -- CITY OF LODI
3. That said notice shell state, and give notice, that the City
of Lodi will furnish to the successful bidder, without charge, the unqualified legal
opinion of Messrs. Orrick, Palmer and Dahlquist of San Erarcisco, California,
certifying to the validity of the said bonds, together with a certified trans-
cript of the proceedings for their issuance.
ADOPT2D, SIGND AND O?_RC9rD,this 23rd day of September, 1535
The foregoing Resolution No. 804 was then passed and adopted by the
following vote:
AYES: Councilmen, Spooner, Weihe, Clark and Graffigaa.
ACES: Councilmen, None
ALBS =- iT: Councilmen, Mayor Steele.
It was decided to be to the best interest of the City during the stress
and rush of extra legal work entailed in connection with the new bond issue
to embloy a stenographer with an office in the City Fall. Upon motion of
Council -nn Spooner, seconded by.Councilnon Clark, and carried unanimously,
the City attorney was authorized to secure the services of a competent
stenographer.
On motion of Councilman Spooner, seconded by Councilman rleihe, the
City Council then -adjourned to and until 8:00 p.m. of Monday, September
30, 1935. Motion carried unanimously.
The foregoing _nutez ;f as acjo+r
regu_ar mee._ a ..a Co.:nc_
of zrie City of . xl were- read
eCuent ,...._inn; s:_.;, ...zy
aeld October 7, 1935.
idayor o: ;e _ .v of Loci
Oc-jber 7. 1935