HomeMy WebLinkAboutOrdinances_1506_CCv0001.pdf ORDINANCE NO.
AN ORDINANCE OF THE CITY OF REDLANDS ,
CALIFORNIA, PROVIDING FOR THE ISSUANCE
OF 1962 SEWER BONDS, SERIES B, OF SAID
CITY IN THE AMOUNT OF $250,000
WHEREAS, pursuant to Ordinance No. 1173 of the
City of Redlands, California, a special election was duly
and regularly held in said City on the 10th day of October,
1961, at which election there was submitted to the qualified
voters of said City the following bond proposition, to wit:
BOND PROPOSITION: Shall the City
of Redlands incur a bonded indebtedness
in the principal amount of $1,000,000
for the acquisition and construction
by said city of a certain municipal
improvement, to wit: additions to the
sanitary sewage system of said city,
including trunk sewers and appurtenances
and appurtenant works, and sewage treat-
ment plant facilities, and including the
acquisition of all land, easements, pipe,
pumps, machinery and other property
necessary therefor?
and
WHEREAS, said proposition received the affirma-
tive vote and assent of more than two-thirds of all of the
qualified voters of said City voting on said proposition,
and said City is now authorized to issue bonds in the amount
and for the purpose set forth in said proposition; and
WHEREAS, $750,00.0 of said bonds have been issued
and sold, leaving $250 ,000 authorized bonds unissued; and
WHEREAS, it is deemed in the best interest of the
City of Redlands to issue and sell said $250, 000 bonds for
the purposes set forth in said resolution.7
NOW, THEREFORE, the City Council of the City of
Redlands, California, DOES ORDAIN as follows:
Section 1. That bonds of the City of Redlands,
California, in the principal sum of $250,000 be issued and
sold for the purpose set forth in the bond proposition in
the recitals hereof. Said bonds shall be designated
"CITY OF REIN 8, 1962 SEWER BONDS, SERIES B" , shall be
50 in number, numbered 1 to 50, both inclusive, and shall
be of the denomination of $5, 000 each. Said bonds shall be
dated February 1, 1973, and shall be payable in consecutive
numerical order on February 1 for each of the several years
that follows:
Years Prin2jpal- Amount
1974 $ 25,000
1975 25,000
1976, 25,000
1977 25,000
1978 25,000
1979 25,000
1980 25,000
1981 25,000
1982 25,000
1983 25,000
Said bonds shall bear interest at a rate or rates
to be hereafter fixed by resolution but not to P-zoppa --i-z
per cent (6%) per annum, payable semiannually. Said bonds
and the interest thereon shall be payable in lawful money
of the United States of America at the office of the City
Treasurer of the City of Redlands , California, in said city,
or at the op!tion of the holders of the bonds , at any paying
agent of said City in the Cities of Los Angeleso California,
Chicago, Illinois , or New York, New York.
Section 2. That the Mayor and the City Treasurer
of said city are hereby authorized and directed to sign all
of said bonds by their printed, lithographed or engraved
facsimile signatures, and the City Clerk of said City is
hereby authorized and directed to countersign said bonds and
to cause the corporate seal of said City to be impressed,
imprinted or reproduced thereon, and the City Treasurer of
said City is hereby authorized and directed to sign the
interest coupons of said bonds by the printed, lithographed
or engraved facsimile signature, and to number said interest
coupons of each of said bonds consecutively.
Section 3. That the proceeds of the sale of said
bonds (except premium, if any, and accrued interest) shall
forthwith be turned over to and placed in the municipal
treasury of said City to the credit of a fund hereby created
and designed "CITY OF REDLANDS, 1962 SEWER BONDS, SERIES B,
CONSTRUCTION FUND" , and the moneys in said fund shall be
applied exclusively to the acquisition and construction
of the municipal improvement described in the bond proposition
in the recitals hereof, except as provided in Section 43628 of
the Government Code.
Section 4. That any premium or accrued interest
received fromthe sale of said bonds shall forthwith be
turned over to and placed in said treasury in the interest
and redemption fund hereinafter created. That for the pur-
pose of paying the principal and interest of said bonds, the
City Council of said City shall at the time of fixing the
general tax levy, and annually thereafter until said bonds
are paid or until there is a sum in the treasury of said City
set apart for the purpose sufficient to meet all payments of
principal and interest on said bonds as they become due, levy
and collect a tax sufficient to pay the interest on said
bonds as it falls due and such part of the principal thereof
as will become due before the proceeds of a tax levied at the
next general tax levy will be available. Said tax shall be
in addition to all other taxes levied for municipal purposes
and shall be levied and collected as other city taxes, and
shall forthwith be turned over and paid into a fund of the
City to be known as "CITY OF RED D, 1962 SEWER BONDS,
SERIES B, INTEREST AND SINKING FUND. " Said fund shall be used
for no other purpose than the payment of said bonds and in-
terest thereon until said bonds and interest are fully paid.
Section 5. That two forms of bonds shall be pro-
vided: (1) those which are in negotiable form, payable to
bearer with negotiable coupons (herein sometimes referred to
as "bearer bonds") , and (2) those which are issued to facili-
tate registration and so are issued as non-negotiable fully
registered bonds payable as to both principal and interest to
the registered owner (herein sometimes referred to as "fully
registered bonds") .
Title to any bearer Bond, and to any interest coupon,
shall pass by delivery in the same manner as a negotiable
instrument payable to bearer. The bearer Bonds are not
registrable by endorsement and they may be exchanged for
fully registered Bonds as provided herein.
Any fully registered Bond may be transferred only►
upon the books for the registration and transfer of Bonds
upon the surrender thereof at the office of the Bond Registrar,
together with an assignment duly executed by the registered
owner or his attorney, substantially in the form set forth
herein. At the request of the transferee, upon the transfer
of any such fully registered Bond, there shall be issued in
the name of the transferee a new fully registered and or
Bonds of any of the authorized denominations, or, at the
option of the transferee, bearer Bonds with coupons attached
representing all unpaid interest due or to become due there-
on, of the same aggregate principal amount, interest rate
and maturity, as the surrendered Bond.
Bearer Bonds, upon the surrender thereof to the
Bond Registrar with all unmatured coupons and all matured
coupons in default, if any, pertaining thereto, may at the
option of the Holder or registered owner thereof, be exchanged
for an equal aggregate principal amount of fully registered
Bonds of like interest rate and maturity of the authorized
denominations . Fully registered Bondsp upon the surrender
thereof to the Bond Registrar, together with an assignment
duly executed by the registered owner or his attorney, sub-
stantially in the form set forth herein, may, at the option
of the registered owner thereof be exchanged for an equal
aggregate principal amount of bearer Bonds with coupons attached
representing all unpaid interest due or to become due thereon,
or for registered Bonds of any other authorized denominations,
of like interest rate and maturity.
The City Treasurer shall serve as Bond Registrar
or the City Council may appoint an agent to serve as Bond
Registrar.
One exchange or transfer of a fully registered Bond
for a bearer Bond or bearer Bonds will be made without a
charge to the Bondholder. The City and the Bond Registrar
may make a charge for every other exchange or transfer of
Bonds sufficient to reimburse them for any tax, fee or other
governmental charge, required to be paid with respect to
such exchange or transfer and the cost of preparing each
new Bond delivered upon such exchange or transfer and any
and all other expenses of the City and the Bond Registrar
incurred in connection therewith, and all such charges shall
be paid before any such exchange or transfer shall take
place. Neither the City nor the Bond Registrar shall he
required to make any such exchange or transfer of a Bond
during the fifteen (15) days next preceding an interest pay-
ment date on such Bond or after such Bond has been called
for redemption or, in the case of any proposed redemption of
Bonds, during the fifteen (15) days next preceding the date
of the publication of notice of redemption.
Said bonds and the coupons for the interest there-
on shall be issued in substantially the following form:
Oil
[FORM OF BEARER BOND)
UNITED STATED OF AMERICA
STATE OF CALIFORNIA
CITY OF REDLANDS
1962 SEWER BONDS , SERIES B
No. $ 51000
The CITY OF REDLANISS, a municipal corporation
situated in the County of San Bernardino, State of California,
FOR VALUE RECEIVED, hereby acknowledges its indebtedness and
promises to pay to the bearer hereof the sum of FIVE THOUSAND
DOLALRS ($5,000) on the lst day of February? 19 P with
interest thereon at the rate of I per ci-n—t ( %)
per annum, interest payable semiaiEually on the 1st days
of August and February of each and every year from the date
hereof until this bond is paid, on presentation and surrender
of the respective interest coupons hereto attached. Both
principal and interest are payable in lawful money of the
United States of America at the office of the City Treasurer
of the City of Redlandst California, in said City, or at the
option of the holder hereof, at any paying agent of said City
in the Cities of Los Angeles, California, Chicago, Illinoist
or New York, New York.
This bond is issued by the City of Redlands under
and in pursuance of and in conformity with the provisions of
Article 1. Chapter 4, Division 4, Title 4 of the Government
Code of the State of California, and acts supplementary there-
to, and in pursuance of the laws and Constitution of the State
of California, and is authorized by a vote of more than two-
thirds of all the qualified voters of said City of Redlands
voting at an election duly and legally called, held and
conducted in said city on the loth day of October, 1961.
IT IS HEREBY CERTIFIED, RECITED AND DECLARED that
all actst conditions and things required by law to exist,
happen and 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 bondt together with all other indebtedness of said
city, does not exceed any debt limit prescribed by the laws
or Constitution of the State of Caifornia.
IN WITNESS WHEREOF, said city of Redlands has
caused this bond to be signed by the Mayor and the City
Treasurer of said city by their facsimile signatures,
countersigned by the City Clerk of said city and sealed
with the corporate seal of said city, and the interest
coupons hereto attached to be signed by the City Treasurer
by his facsimile signature, and has caused this bond to be
dated the first day of February, 1973.
a x
or of the City of/,/-
Redlands, Califdrni,
City T each er of the
of Redlands, California
COUNTERSIGNED:
"I Z,
City the i y.. d
Eec�l
/M., Cali fir .ia
(SEAL)
(COUPON FORM)
On the day of
the CITY OF REDLANDS, l
California, will pay to the
bearer, at the office of the
City Treasurer of said city, Coupon No.
in said city, or at the
option of the holder hereof,
t any paying agent of said
City in the Cities of Los
Angeles, California, Chicago,
Illinois, or New York, New
York, the sum of
in lawful money of the United
States of America, being the
interest then due can its
1962 SEWER BONDS, SERIES B. Pica;.
Dated February 1 , 19 73
*, .
City Treasurer of t City 0-
Redlands , California
(FORM OF REGISTERED BOND)
UNITED STATES OF AMERICA
STATE OF CALIFORNIA
CITY OF REDLANDS
1962 SEWER BONDS, SERIES B
No. R- $
The CITY OF REDLANDS, a municipal corporation
situated in the County of San Bernardino, State of California,
FOR VALUE RECEIVED,, hereby acknowledges its indebtedness and
promises to pay to
or his gister-e-4 assigns , thetHe sum R
DOLLARS ($ ) on the lst day of FiSrUgry, _19
interest tHe—reon from February 1, 1973, or from themast
recent interest payment date to which interest has been paid
or duly provided for, at the rate of per cent ( %)
per annum, interest payable semiannually on the 1st days ol—
August and February of each and every year from the date hereof
until this bond is paid. Both principal and interest are
payable in lawfuly money of the United States of America at
the office of the City Treasurer of <the City of Redlands,
California, in said city, or at the option of the holder here-
of, at any paying agent of said City in the Cities of Los
Angeles, California, Chicago, Illinois, or New York, New York,
and are payable only to, or upon the order of, the person
appearing as the registered owner hereof at the closing of
business on the 10th day preceding the payment date on
registration books kept by the Bond Registrar.
This bond is issued by the City of Redlands under
and in pursuance of and in conformity with the provisions of
Article 1, Chapter 4, Division 4, Title 4 of the Government
Code of the State of California, and acts supplementary there-
to, and in pursuance of the laws and Constitution of the State
of California, and is authorized by a vote of more than two-
thirds of all the qualified voters of said City of Redlands
voting at an election duly and legally called, held and
conducted in said City on the 10th day of October, 1961 .
This bond is transferable by the registered holder
hereof in person or by his attorney duly authorized in writing
at the main office of the Bond Registrar but only in the
manner, subject to the limitations and upon payment of the
charges provided in the Ordinance of Issuance, and upon
surrender and cancellation of this bond. Upon any such
transfer the City shall issue in the name of the transferee
and deliver4 in exchange for this bond, a new registered
bond or new registered bonds without coupons, of authorized
denominations, or, at the option of the transferee, bearer
bonds with coupons attached representing all unpaid interest
due or to become due thereon, in aggregate Principal amount
equal to the principal amount of this bond, or the unre-
deemed
nre-dee d portion theareof, of the same maturity and bearing
interest at the same rate.
The bonds of the issue of which this bond is one
are issuable as bearer bands payable to bearer in the denomi-
nation
norm-nation of five Thousand Dollars ($5,000) each, and as
registered bands without coupons in the denomination of
Five Thousand Dollars ($5,000) each or in any multiple
thereof. The bearer bands and the registered bunds without
coupons are interchangeable for bonds of the same interest
rate and maturity upon the surrender thereof for such purpose
by the holder or registered owner at the main office of the
Band Registrar, all in the manner and upon the payment of
the charges and cotherwies as provided in the ordinance of
Issuance.
IT IS HEREBY CERTIFIED, RECITED AND DECLARED that
all acts, conditions and things required by law to exist,
happen and be performed precnent 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 city, does not exceed any debt limit precribed by the
laws or constitution of the state of California.
IN WITNESS WHEREOF, said City of Redlands has
caused this bond to be signed by the Mayor and the City
Treasurer of said City by their facsimile signatures,
countersigned by the City Clerk of said City and sealed
with the corporate seal of said city, and has caused this
bond to be dated the 1st clay ofFebruary_, 19 73
: s
yor of-the City o
Redlands,, California
E
Rr.
City Treasurer of the:. y o
Redlands, Cali fo i a
COUNTERSIGNED;
city- €° eof -the fa
ty o ���
Redl dsffy'c alifora
(SEAL)
(FORM OF SIGN NT FOR REGISTERED BONDS)
OR VALUE RECEIVED, the undersigned hereby sells
assigns and transfers unto
the within bond and hereby irrevocably constitutes and
appoints
attorney to transfer said bond on the registry books kept
for that purpose with full power of substitution in the
premises .
DATED:
WITNESS:
Section 6. That as to any fully registered Bond,
the person in whose name the same shall be registered shall
be deemed to be and shall be regarded as the absolute owner
thereof for all purposes, and payment of or on account of
the principal or redemption price of any such Bond and the
interest on such a fully registered Bond shall be made only
to or upon the order of the registered owner thereof or his
legal representative, but such registration may be changed
as hereinabove provided. All such payments shall be valid
and effectual to satisfy and discharge the liability upon
such Bond, including the interest thereon, to the extent
of the sum or sums so paid. The City and the Bond Registrar
may deem and treat the bearer of any bearer Bond and the
bearer of any coupon pertaining to any bearer Bond, as the
absolute owner of such bond or coupon as the case may be,
whether such Bond or coupon shall have matured or not, for
the purpose of receiving payment thereof, and for all other
purposes whatever and neither the City nor the Bond Registrar
shall be affected by any notice to the contrary.
Section 7. That the City Clerk shall certify to the
passage and adoption of this ordinance by a vote of
at least two-thirds of all the members of the City Council
of said city, and shall cause this ordinance to be
published once in the REDLANDS DAILY FACTS, a newspaper of
general circulation in said City.
Section 8. This ordinance shall take effect
thirty (30) days after its adoption.
ADOPTED# SIGNED AND APPROVED this 16th day of
January , 1973.
ror of twit o
eylands, Cal ifornia
ATTEST:
s
ter
of
Recd , +Califarn` a
(SEAL)
STATE OF MIPORNIA
COUNTY OF SAN BERNARDINO ss.
CITY OF REDLANDS
I, e A. Moseley , pity Clerk of
e City of Redlands, California,, DO HE EBY CERTIFY that the fore-
going ordinance was introduced and read at a regular
meeting of the City Council duly held on the2nd ay o
January , 1973, and thereafter at a
regular meet ng o said City Council duly held on t e 16th
day of January , 1973, was reread, duly F Se
and adopte y said Cify—Coucil and signed and approved
by the gayer of said city, and that said ordinance was passed
and adopted by a Mate of more than two-thirds of the members
of said, City Council, to wit:
AYES: Councilmen DeNrjy , Knudsen, Millen,
Sewall, Magor Cummings
NOES: Councilmen None
SENT Councilmen None
City f e Cltof
Redlan alifornia
(SEAL)
STATE OF CALIFORNIA }
COUNTY OF SAN BERNARDINO ss .
CITY OF REDLANDS
1, Pe A, Moseley , City Clerk of the
City of R d s, California, HEREBY CERTIFY that the above
and foregoing is a full, true and correct copy of ordinance
No. 1506 of said city and that said ordinance was
adopted at the t e and by the vote stated on the certificate attached
thereto, and has not been amended or repealed.
Dated: January 1 , 19 ` 7
4.1
rity ..
Redl ' d Califo i
(SEAL)