HomeMy WebLinkAboutResolutions - No. 05-07-1923bMinutes
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Provided,nevertheless, that the streets, avenues and alleys
situate within said districts, shall be omitted from any assessment
made or levied for paying the costs and expenses of the above men-
tioned work and improvement, the said streets, &,-enues and alleys
belonging to said City and being in use as public streets, avenues
and alleys.
;Jven . that serlsa �bo:
UnpIdd - assessment
5t at the rate of z"
et1*ww3i,,VM_W`
Lt'of 'Which -bond& zhoM %
years fr= the 2nd day
This Resolution is ad opted pursuant to the nrovisions of those
certain -Acts of the Le,-islature of the State of California des-
ignared respectively as the "Improvement Act of 1911" and the "Imp
rorement Bond Act of 1915" and Acts Amendatory thereto.
The City Clerk is hereby directed to post a notice of said work
tozether with the plans and specifications therefor, conspicuously
for five days on or near the council chamber door, inviting sealed
proposals or bids for doing the work ordered.
He is also directed to publish three times a notice inviting
such proposals, and referring to the specifications posted -or on
file, in The Lodi News, a tri -weekly newspaper published and
circulated in said City of Lodi and hereby designated for that
purpose.
...........
...........
Resolution 14o. 398 in the matter of the issuance of bonds to
defray the cost of the sewage disrosal plant was then passed and adopt
adonteL,
RESOLUTION NO. 3 9 8.
A R`SOLUTION PRO VID T G FOR THE ISSUANCE AYD RED1__-w?TION OF
TIE BONDS OF 7H3 CITY OF LCDI, STATE OF C-LIFORITIA TO TF---
A1.'OUNT OF ON HTJNDRED THOUSP11D DOLLARS, FOR T1_- AC-,-,:,ISITIOIT
CCITS-_--'UCTION _'IM C012LETION OF A CEIRTAIN 1.7-71�TIC12AIL Iz;�:FROV—
E121INT -FOR CITY, 111, -,CCORD.LECE i=,.H 'IM AS AUTHORIZED
AT A SPCI�_ ZL:Cil Civ `_7:`LD SAID CITY ON THE SIXT3iMTH
DAY OF JANUARY',-' A. D. 1:923
1:F_ PZj.S,a sz�,ecial electicn -;.as held on the 16th day of January,
v, -t -a the 1�rovis_-Qne aped requirements of
D. 192Z, in accord I
Ordinance 7,-o, 13-58, of said City, ce-ilirF -rrov—* 2-4 for,_..d Eivins
-
notice of such election, reference to said ord_Jnce for further
yartic,,.ilars beim mere ::�ade; a ,
S, it ?, -
as been dete,.ndned uv a carvass of '6,-.e returns of
456
said elec-tion by 3oard of trustees of s3i: c'_`..y. ..tilde �i:ond
February 5, *,.D. 1923, a.,,d entered upo note �irutes of said Board,
that at said special election t_-ie-ncurrirg of a bonded indebtedness
by said City :or rur ?cse e=.d to t' --.e mount st-ated in said Ord-
inance .;o. 138.as authorized by --n affir=ative vete of more than
tv;o-,.i11r'.:S .^.S all tG- voters voting then.,-yon eaid ropos-tion;
ITO . T1i_M2 OF;;;, M -2 ?UI.3OZY:3D, by til- 3oCiT'C of yrustees of the
City of Lodi, as zollor:s:
Section 1. That the bonds of the City of Lodi, State of Calif-
ornia, :Dill be issued in accordance -r:itz t-,-- result of the special
election held in said City on the loth day Of T Ur �j, ...D. 1923,
and in co^•,liarce a.~nth tale statutes of the State of California,and
the ordinance o" said City, to the amount of Ore Hundred _housand
Dollars (?'100,000) for tale purposes stated in sE.id OrdinzLnce i:o.13a;
that s�:id bonds shall be Galled, "IL'.'prove :e nt Bonds," shell be one
hundred in number, of tale denomination of One T_aousand Dollars 01000)
eac, and shrill be numbered consecutively frcr_ ohne to one hundred,
both inclusive, and shall he nay -able in numeric al order consecutively,
co_:_aencing sitih to^e 10.,e ,. nu.nbers i:, t:.e ra nner :ollo;,in.-, that is
to say: -Five o' s,id bonds each -year for tlr,enty consecutive years
co.- ening June 1, 1924, =...d until a -i of said bonds shall be paid.
11 of said bonds issued as herein rrovided sh_wIl be of tae
for. and character k norm as 'Serials." _.ley shall be dated tulle 1,
1923, shall bear interest at the r -ate of five er cent her annum,
nay"ble se: -1 -annually on the first days of June and Decei2:ber cf each
year until the =turity- tiereof; anti the rinoipa1 and in tereat
1. _a = shall be payablein gold Cain of ane United Jtctes, at the
office of the ire asurer of said City, or, at t.'^_e op,`3ion of tae :older,
at t..., fisc=al agency of sial Ci.iy in the laity of -;e- Yorl{.
Sec . Said bor.:!Z be signed b- the ?resider., of ,._e 3oard
of _rustees cf sail City, are, by -le Treasurer thereof they scall be
countersi.Sned by the Clerk of sai City, and _'.e seai of said City
sh..11 be affixed :heshalleto, Said bonds s:be subs ,sntially in tine
f o l'_o ::4 %g�fo r:a :
ulilT STAE3 03 - RICA
ST."T2 -!2 CALI:CRTIA
CITY OF LODI
I jjiC`I' 30:7D.
X1000.00.
=or value received, the City of Lodi, a =unicipal cor-
cora ion organized and e"lsti^- U der t+:e 2::i.�iS of 6h State
oI al.iforn'i- _^:er?�y acbrc:,_edges itself Inde t.ed and Mro-
Ses to Tay�to The bearer on the ay of 19
One Zhousand Dollars ( $1,000) , with interest thereon at tyle
rate of five per cenzur. ,sr annum, pajable se i-annu:.'_ly,
on preseaTwtion ;art surrender of tae coupons hereto attached
ahs they respectively beco:.-;e due • both princi_„al and interest
beingnayable in l' -old coin of t_le United Statesat the office
of the _reaeurer of.. ..'_d City, or at the o7 ti on of the hold-
er,aw_e fisc -al agency of said City in the ity
T?lis bond is issued under wnd ^ursua t to the Constitu-
tion and. statutes of the State of California, and under and
rursu"nt tc ordi ances 5.nroceedings cof
..aid City duly
adc7.ted and t2. -en and & vote and assent of more than two -third's
of All tale ^_u..lified electors of swiw city voting wt a spec-
ial election duly .ar.-, legally called w.. '_Held for t zt purr_ose.
is 'hereby certi.ied, recited and dec'_ared that all
acts CO.-.diLions _.rd thingsth_Jngs required by =..sr to �
exist happen
Z. -1 e erfcr� ;recede_:, to an, in t_e'is.aarce oft_.ia bond
have existed, happened ,and been perfcr:.ad in due -1i"e,
form
and
n-.,nner ws reo*.sired by 1- a:.d that the a_:cun-. of this
'fond. together with :all ,.tier' indebtedness of said city does
not exceed any, limit nrescribed by the constit.:tion or stat-
utes of said state, ar_d t _--t provision: '_.:as been made as re-
quired by the .constitution and statu::es o: said state for
the collection of an annual t.ax sufficient :.o cay the inter-
(
est on this bond as it fallsu w:r_ w'_so .0rovision to eonsti-
tute _ s i �:inn- fund, for :a ayment .,f ie princ i; a 1 o
o—d on or before turi�y. the _ul_ f._�lth and credit o:
...:.i: city :iereb; cled-Jed for __:e punctual payment of ,.e
_�
_ci-al as._4 interov' oft.._,. bond.
s.__d City of Lodi, has ,..-used
bor:d c be ex. _.:ed under its cornor_..a se 1, sigmec, by the
"eside-nt of z '0 30ard of S'de0, n -nal by its
counte_.. _7 -ad by its Cler'_t and: lh:ls ..ueed t --.e interest OU-
-:ons Aereto att c ad , t0 siyred oy iy .. =r2 .surer, zind t --._
Js
bond to be dated the dni J_
President 02 3o¢.,rd of Trustees
lounter2 ined
City Clem: ---
r- City
Sec. 3. Interest coucons sh.11 ce attached to each bond to the
number of t:vice .e number of y,ears such bond will run until the
-ty t:ereof, and in the O :Dunt of t ten ty-five dollars,(j25.00)
each, Tmaich sL= will be the amount due for interest cn such ..c^ds
for _ix .i:onths. Such couror_s shall be numbered from one uu -ards and
ch state state these number of the bond tc, -.ic h it is attached. Such
Coupons Sall be siz-ned by .._`:e i�
re eurer ofsaid City, by __iS engrav-
ed or lithograrhed sicr_ture, -and be substantially in the follovdng
fo= .
FOR`.. a_ C CUP011
On 9 the City of Lodi , Ca lif-
ornia, ;:ill pay to the bearer at �e Office _ t e _r2aa-
urer of ..ail City,or, at :.:ie on.i or. c_ the holder, ".
ha 'i scat �;encyof i Ci ty in the City
in „old coin _:. the :finned States, he. S_:{ ....,_.ths in-
terest ;hen due on _tS _ _rOVe�.2 '.t 3cndJ_'.O, .
_ ed
Yi reasurer
Sec.4. For the purpose of prying the rincipal and interest of
said bonds, tne Board of Trustees of the City of Lodi, shall at the
time of _xing the general tax levy ani in tih=a
e nner for such genenal
tat levyfi
-rovidew, levy and collect for the fund hereinafter -rovided
forJnually�.w eye_ until sail bon e arpaid or until t:.ere
sih:ill-e a sum in ..__e treasury of said city, are
apart for pur-
rose sufficient to meet all sums beconin- due for the rincipal and
interest on said bonds a tax sufficient toUpay the annual interest on
said bonds, and also such part of the _r.cipa 1 thereof as shall be-
come due before t_e time for fixing the next general tax levy. Said
tax sh-11 be in addition to all other taxes levied for municipal rur-
poses, and shall be collected at the same time and in the same manner
as other MUniciral t . cel are collected, a ---d as collected shall be
fortlwit!i _ii i_.to ._a fund for ...Lich t:ie s_....,, v;es levied _n.d col-
lected. Such fund =hall be deli; _..ted 113ond Interest and Rede=tion
fund, 1923" and ill sums tc bec-n- due for the principal and inter-
est on said b -.r s s..w11 be _raid from such fund.
pec. 5. ^.e preside. Vof ,,._ 3c�r'x o-rustees and t%ie -re--surer
are hereby aut aorized and directed to fill in o'ie bl�_n'k snaces in
sui- bonds in accordance jvitrh t.hi s resalution and to sion-1 said
bonds on behalf of said city, _:r. .e c v authorized i N� ser{ is uu Y11.7ri ell Vo
countersign the ...:_7e and to affix the City's seal there'.
here to .
Sec. ^O, the 3oa d of -r 1stees may sell sr; i-., bonds at Such times
and in . L,c - mounts as _ G fete r_.i n and ds arisi ng fro:..
suc�. ..__le -.a_1 be __ced in ,._.e :re•:.su^Jto the credit of t:.e _...-
rove_.._n:; ;on_.._ict_,n _u,,d`, fund i hereby cr-._.tel; and such
459
On .. ti^. o'--uste•� Hale t:_e 3-owrd journed until _.a.y 1-,
19x13, at aou= - o'cicc__ r.