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!' ORDINANCE NO. 'i'� C3-
An
3An Ordinance Providing for the Incurring of a Bonded
Indebtedness of the City of Redlands in the Sum of #50,000.
for Certain Purposes Herein Set Forth, and Providing for the
Issuance of Bonds Evidencing Such Indehtednesis.
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The
000-----The Board of Tru*ees of the City of Redlands do Ordain
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as Follows:
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Section 1. A special election having been duly and reg-
ularly held in said City of Redl,znds, in the County of San
Bernardino, State of California, on the 13th day of December,
t' 1906, after due notice thereof given and in pursuance of an
ordinance duly calling said election, to-wit; Ordinance No. 398
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duly passed by s .id Board of Trustees on the 27th day of Nov-
ember, 1906, at which election there was duly submitted to the
qualified electors of said City, as provided in said ordinance,
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the proposition of incurring by said City, a bonded indebtedness
of Fifty Thousand Dollars, principal sum, to pay for electric
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lighting of said City to be furnished by private company for
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fiscal year 1907, and for care and maintenance of the streets
and public parks of said City for said fiscal year ( not includ-
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Ing, however, any muxicipal improvement of any kind or nature
whatsoever. ) and said .Board of Trustees having duly canvassed
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the votes cast c.t such election, from which it appeared, and
said Board of Trustees having thereon so determined, that more
" ... i than two-thirds of all the voters voting at said election -voted
in favor of incurring said indebtedness; and it appearing to
said Board of Trustees and being hereby so determined and de--
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clared, that such indebtedness of Fifty Thousand Dollars, if
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incurred, together with all other indebtedness in said G#ty ,
4 will not in the aggregate exceed the limit of indebtedness, as
Fixed by the laws of said state, which said city may incur.
Now therefore, in pursuance of said election and of the
statute in such cases made and provided, it is by the Hoard of
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;;Trustees of said City of Redlands hereby,f y ordained and ordered
I'as follows:
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Section 2. That the bonds of said City of Redlands shall C
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be issued in the amount of Fifty Thousand Dollars ( 450,000. )
for following purposes, viz. : For electric lighting of said
" City to be furnished by private company for fiscal year 1907,
,sand for care and-maintenance of the streets and public -parks
sof said City for said fiscal year ( not including, however, any
municipal improvement of any kind or nature whatsoe%,er. ), as
specified and defined in said ordinance calling said election,
;;said bonds to be designated as "Special Municipal Bonds" of the
'City of Redlands.
Section 3. That the i.iode of creating; ,3ueh indobtedness,
and of paying the same, �3haii be by the issuance of bonds of
said Git in F:�anine ax d fora as h rQ�n700 tbands�;veaad' o4n the bonds sh�l cons s o one hunc.re
denomination, principal sum, of Fzve Hundred ( 0500.50 ) Dollars,
and shall be numbered consecutively from one to one hundred,
both inclusive.
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Section 4. Said bonds shall bear date the 15th day of
Jaz:uary, 1907, and shall be so issued that one-twentieth ( 1/20 )
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pant of the whole amount of such indebtedness, beside;,, interest,
shall be paid each and every year, thereafter on the 15th day
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of January thereof; that is to say, the first five of said
bonds, being numbered one, two, three, four and five, shall be
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made payable on the 15th day of January, 1908, the second five
of said bonds, being nw:ibered six, seven, eight, nine and ten,
shall be made payable on the 15th day of January, 1909, and so
!'.:on, five of said bonds in their regular numerical order, as
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I!numbered, being made payable on the 15th day of January of each
!succeeding year, so that the last five bonds, as so numbered, {
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being bonds numbered 96, 97, 98, 99 and 100, shall be made pay- j
J�able on the 15th day of January, 1927.
Section 5. Each of said bonds shall bear interest from
,date until paid at the rate of five per cent per annum, payable
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semi-annually on the 15th day of January and July of each year,
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and each bond shall have coupons attached thereto, numbered
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consecutively for the several installments of into est to become
payable on such bond, up to the time of maturity thereof.
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Section 6. That the principal and interest of said bonds
shall be payable in gold coin of the United States, in said
Ci'.y of Redlands, at the office of the Treasurer of +laid City*
uy 3uch. r'er €3ureZ , upon the aurrender to him of the bonde and
coupons respectively to be paid.
Section 7. Said bonds shall be signed by the executive
of said City, to-wit : the Pre8ident of the Board of Trustees of
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said City, and by the treasurer of said City, and � e countersigned
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by the Clerk of said City and shall have the corporate seal of
said City affixed thereto ; and said coupons shall be signed by
the treasurer of said- City, provided, that said coupons may be
! so signed by affixing thereto the lithographed signature of
said treasurer, which said lithographed signature so affixed,
shall have the same f�)ree and effect as would the written sig-
nature of said treasurer.
Section 8. Said bonds, exce_�t as to the number and date
of maturity of each, shall be of like tenor and shall be sub-
stantially in form as follows :
BOND NO.
j United States of America,
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State of California,
City of Redlands.
Special Municipal Bond.
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The CLty of Redlands, in the County of San Bernardino,
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State of California, for value received, promises to pay to
the bearer hereof, at the office of the treasurer of said City,
z 0n the 15th day of January, A. D. 1908, the sum of five hundred
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dollars, in gold coin of the United States, upon the surrender
Of this bond, and to pay interest thereon from date, in like
fold coin, at the rate of five per cunt per annum, payable seinl- !
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'i annually on the 15th day of January and July of each year,
said
such installment of interest to be paid at the office of„City C
Treasurer, upon the presentation and surrender of the respect-
ive interest coupons hereto attached. This bond is one of a
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series of one hundred bonds, all of like date, denomination and
tenor, except that said bonds are numbered consecutively_ i`rom :
one t-o--oi a hundred, both inclusive, and vas y as to .date of
maturity; said bonds being so issued anrl the date of maturity
so expressed in each, that five of said bonds in regular num-
erical order as so numbered, and being one-tilmntiet h of said
entire issue, shall become due and payable each succeeding year
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after date of issue. Said series of bonds ( and this bond is t
one of said series ) are issued in pursuance of an ordinance of
said City duly passed , wthori .ing and directing such issue,
and in accordance with a vote of the qualified electors of said
City, at an election duly and regilarly held for such purpose,
more than taro-thirds of the voters voting; at said election,
having voted in favor of such issue; and are issued under and
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in pursuance of and after full compliance with the provisions
of the Act of the Legislature of said state, in effect �f Y1C��c � 1
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1883, entitled, "An Act to provide for the organization, incor-
poration, and government of municipal corporations," and acts
I amendatory thereof, as the same relate to Cities of the Sixth
1 Class , and after full compliance .,,i th the laws of said state
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applicable to ;such issue, which laws provide for the issuance
of bonds of such cities for the purposes for which this bond
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is issued, The indebtedness of said City for public improvements
and all other purposes, including the whole amount of said bonds,
does not, in the aggregate , exceed fifteen per cent of the
, assessed value of all the real and personal property of such
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City ; and the total indebtedness of said City, including the
whole amount of said bonds, does not exceed the lii:dt of indebt-
edness that said City may lawfully incur under the laws of said k
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State. -4- I
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And provision has been duly made, by an ordinance of said City
duly passed and now In force, for the payment of the principal
and interest o-j"* each and all of said bands, as the same shall
become due, by the levy and collection of an annual tax upon
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all the real and personal property subject to taxation within
said City, sufficient for said purpose.
WItIleau Wher0of,t the SUid 01tY Of RedlWld3 r t y its
Board of Trustees, has caused this bond to be signed by the
executive of said City, to-wit : the President of said Board of
Trustees and by the Treasurer of said City and to be countersign- '
ed by the Clerk thereof and its corporate seal to be hereunto
affixed and the lithographed signature of said trea:iurer to be
affixed to each of said coupons, at the said City of Redlands,
this 15th day of January, 1907 .
Pre3ident of the Board of Trustees of trio
City of Redlands.
Treasurer of said City of Redlands,
Countersigned by
Clerk, of said City of Redlands.
Section 9. Said coupons, except as to number of coupon,
data of I)ayment .end number of bond referred to, shall be of
like tenor and in form substantially as follows:
412.50 INTLREST COUPON. No . 1.
The City of Redlands in the County of San Bernardino,
State of California, will pay to the bearer hereof, on the
15th day of July, 1907 , at the office of the treasurer of said
City, on surrender of this coupon, the sum of twelve dollars
and fifty cents in United States gold coin, said sum being the
Ik semi-annual interest due at that date u-1= bond No. I of the
series of bonds issued by said City, designated as "Special
Municipal Bonds" .
Treasurer of said City of Redlands.
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Section 1J. The Prasident of said Board ofT--m-istees and
the Treasurer of Said City are haraoy authorized and directed
to sign said bonds and the Clerk of said City to counteralgin
tht-) same and affix the oor-porate seal of said Cl'ty thereto, for
;; and on behalf of said City ;ni as its corporate act and deed;
a4a, aald Treasurer is hereby authorized and di reacted to sign
13,AIA u-01c{ 'Oerili" Of `Iul 1 2sty aa'l a"i C,.m7-porate
aot and deed, anther by writinE, his signatur,� capon ,3..,L:Ld coupons
or by causing such signature to be lithographed thoreon ; and
such si,;ning and sealing 3hui-j oe xaffiolent and binding exer,%u-
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tion of each aid all of said ponds and cou, ons of paidCity.
Sacsion. 11 . -Por .he Pu_-i)osa of tha paymant of said indebt-
edness aq it shall beo.olaa ,Jue , tha la,;i-31ative oranch of said
itY7 toyBiit : ,ha Board of Trustees, shall at. the time of fixing
the general tax levy and in the mannal, Lor such general tax
levy provided, levy and oollect annually ea,,,Ih year until said
Don'I" ;ire 'Jaid or IL-1tii thore �ihail bo a iu_i i- the tra.,.ji-ary of
said CJL-vY set apart for that purpose, to ml-et all Biu:-.,i-3 co.,jin,�
Aual fo_r 1principal and int,_-Vast on auu.rl ponds, U tax upon all
the real and per-3o-nai
p.,'operty :3u-L),la3t to taxation writhil-, said
City, sufficient to pay the annual intarast on such bonds and
also such part of the principal thereof as shall become due be--
tare the tii.,ia for fixing the next general tax levy. The taxes
herein ra4uIred to be levied and noIlacted shall ba in addition
to all other taxe:3 levied for muniol-pal pil--ljo3es in said +"ity
and shall be (3ole-Itad at L)-ia ,3�uaa t`iaj und in the aw-ne raa:-alazl
iias Other mUniOlPal taxes are collected, and shall be kept in the
treasury of said City as a separate fund to be designated as
11 "SPecial Municipal Bond -Pundll and shall be used for no other
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I! purpose than the paiment of said bonds and accruing inter-eat
thereon.
Section 12. The piaceeds of said bonds, when sold, shall
be placed In the treasury of said city to the credit of, the
proper fund, which fund is hereby created and shall
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be designated as "-0pec4L3l Municipal Bond Fund" and the sat:b
shall be applied exclusi.voly to the purposes and oo jects men-
tioned in paid ordinance calling 3 id ealection.
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Section 33. The Cie--k of said 'CIty i3 hereby directed
to publish thio ordinanca, uftex its passage, in the Redlands
.D"Iy Paote for one insertion and this ordinalloo
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Attest ?T . c' Pr sidont of the Board o,-!' Trustees
Civ Clark. LO, the City of zledland,i.
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I do hereby certify shut the foti-egoin> ordinance 'was duly
a, _ntad by -3 -Ad '�oar,l at a ra ular meat ink thareof hold on "he
16, by the foi owing vote:
ltV as
NOes:
Dat tad
City Clei k.
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