HomeMy WebLinkAboutOrdinances_1990_CCv0001.pdf ORDINANCE NO. 1990
AN ORDINANCE OF THE CITY OF REDLANDS,
ORDERING, CALLING, PROVIDING FOR AND
GIVING NOTICE OF A GENERAL MUNICIPAL
ELECTION TO BE HELD IN SAID CITY ON
NOVEMBER 3 , 1987 FOR THE PURPOSE OF
SUBMITTING TO THE QUALIFIED VOTERS OF
SAID CITY A PROPOSITION TO INCUR BONDED
INDEBTEDNESS BY SAID CITY FOR CERTAIN
MUNICIPAL IMPROVEMENTS
WHEREAS, at a meeting held prior to the meeting at
which this Ordinance was adopted, the City Council of the
City of Redlands, by a vote of at least two-thirds of the
members thereof , adopted Resolution No. 4263 determining
that the public interest and necessity demand the
acquisition of property and property rights , and making
findings relating thereto;
THE CITY COUNCIL OF THE CITY OF REDLANDS does
hereby ordain as follows :
SECTION 1 . That at the previously approved and
scheduled General Municipal Election called to be held in
the City of Redlands on November 3 , 1987 , a measure will be
submitted to the qualified voters of the City on a certain
proposition, namely: A proposition hereinafter set forth in
Section 3 for incurring indebtedness and issuing bonds of
the City therefor , in the principal amount stated in the
ballot proposition hereinafter set forth, and for the
objective and the purposes set forth in Resolution No. 4263
and in said ballot proposition with further particulars as
follows:
i . That the estimated cost of the municipal
acquisitions described in said ballot
proposition is the sum of $7 , 620, 000 . The
estimated cost of said municipal acquisitions
includes the following: (a) legal or other
fees incidental to or connected with the
authorization, issuance and sale of the bonds,
and (b) the costs of printing the bonds and
other costs and expenses incidental to or
connected with the authorization, issuance and
sale of the bonds.
ii . That the maximum rate of interest to be paid
on said indebtedness shall not exceed the
maximum rate permitted by law, to wit , twelve
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percent (12% ) per annum, the actual rete or
rates of interest on said bonds to be
determined at or prior to the time of the sale
or sales thereof. Said interest shall be
payable semiannually except that interest for
the first year may be made payable at the end
of said year .
iii . That if the proposition for the incurring of
bonded indebtedness so submitted receives the
requisite number of votes required by law of
the qualified electors voting on such
proposition, bonds of the City not in excess
of the amount stated in such proposition may
be issued and sold for the object and purpose
set forth in such proposition.
SECTION 2 . That the polls for said election shall
be opened at seven o' clock a.m. on the day of said election
and shall remain open continuously from said time until
eight o ' clock p.m. of the same day, when said polls shall be
closed, except as provided in Section 14436 of the Elections
Code of the State of California.
SECTION 3 . That the procedures for voting for and
against said proposition shall be those established by the
County of San Bernardino for elections and said propositions
shall be printed in substantially the following form:
PROPOSITION NO. 1 . Shall the
City of Redlands incur a general obligation Yes
bonded indebtedness in the principal
sum of not to exceed $7, 620 , 006 for the No
acquisition of park, recreation, and
open space land?
SECTION 4 . That except as otherwise provided in
this Ordinance, the election called hereby shall be
conducted as provided by law for municipal elections in the
City .
SECTION 5 . This Ordinance shall take effect upon.
the expiration of 30 days after the date of its first
publication.
SECTION 6 . The City Clerk is hereby directed to
publish this Ordinance in full once a day for at least seven
days in the Redlands Daily Facts , the newspaper of general
circulation for the City, and in each edition thereof during
each day of publication.
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APPROVED and ADOPTED this 7th day of _,uly ,
1987 .
Mayor , City of Redlands
ATTEST:
ity rlerk of AifyCity
of R dlands
I, LORRIE POYZER, City Clerk of the City of
Redlands, California, do hereby certify that the foregoing
Ordinance No. 1990 was regularly introduced and adopted by
the City Council of the City of Redlands, California , at a
regular meeting thereof held on the 7th day of July ,
1987 , by the following vote of the City Council:
AYES: Councilmembers Larsen , DeMirjyn , Johnson ,
Wormser; Mayor Beswick
NOES: None
ABSENT: None
and that said resolution has not been amended, superseded or
repealed, and is in full force and effect.
IN WITNESS WHEREOF, I have hereunto set my hand and
seal this 7th _ day of July 1987 .
i yerk
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