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HomeMy WebLinkAboutOrd 104-1919 AN ORDINANCE DIRECTING AND PROVIDING FOR INCUPJ~ING OF BOF])~D INDEBTEDNESS OF THE CITY OF'SOU~H SAN FRANCISCO, A MUNICI]PAL CORPORATION IN THE COUNTY OF SAN MATEO, STATE OF CALIFOENIA, N THE SUM OF ONE HUNDRE AND TmmTY-Nn THOUSAWO OZnA S ($129,000.00), OXm OF THE UNITED STATES OF AMERICA, TO PAY THE COST OF CERTAIN MUNICIPA~ IMPROVEMENTS IN AND FOR SAID CITY OF SOUTH SAN FRANCISCO, AUTHORIZED AT A SPECIAL ELECTION HELD ....IN. SAID CITY ON THE loth DAY OF JUNE, 1919, AND PROVIDING 'FOI~ THE ISSUANCE OF BONDS EVIDENCING SUCH IN])EBTEDNESS, 8X'~C2FY- lNG THE FORM OF SAID BONDS, PROVIDING FOR A TAX THE PAYMENT THEREOF, AND CREATING A I~NICrP~?, BOND FUND, ·hereas the City of Seutl~ San Francisco municipal corporation incorporated under the laws of State of California, and the legislative branch of said City of South San Francisco is designated as the Board of Trustees of the City of South San Francisco, and consists of five (5) members, and the President of said Board of Trustees is the chief executive of said municipality; and Whereas the legislative branch of said City of South San Francisco, a municipal corporation within the County of San Marco, State of Cali~or~ia, to-wit, the Board of Trustees of said City ~i~, on the 6th day of May, 191~, by an affirmative vote of more than two-thi~ds (~/3) of all its members, to-wit, four (4) members of the said legislative branch, ~etermine in due and prover form, by r~eselution, that the public interest and necessity deman~ the acquisition, construction and completion, by said City of South ~an Francisco, of certain municipal improvements, to-wit, a city hall and the grading of the Civic Center site of said City of South San Francisco; ah/~~ that the cost of said municipal improvement would be too great to be paid out of the ordinary annual income and revenue of said City of South San Francisco, and would, in addition to the other ex- penditures of said City of South San Francisco, exceed the income and revenue provided for in-any one year; and Whereas said Board of Trustees of the City of South San Francisco did, on the 6th day of ~y, 1919, by an affir- mative vote of more than two-thirds (2/3) of all its members, to-wit, four 14) members of the said Board of. Trustees, de- termine in due and proper form, by resolution, that public interest and necessity demand the acquisition, construction municipal improvements, to-wit, a system of sewers for that portion of said City of South San Francisco lying on the easterly side of the westerly boundary line of San Bruno Road; and that the cost of said municipal improvement would be too great to be paid out of the ordinary annual income and revenue of said City of South San Francisco, and would, in addition to the other expenditures of said City of South San Francisco, exceed the-income and revenue provided for in any one year; and Whereas said Board of Trustees of the City of South San Francisco did, on the 6th day of May, 1919, by an affirmative vote of more than two-thirds (E/J) of all its members, to-wit, foo_r (4) members of said B~a~r~ of Trustees, determine in due and proper form, by resolution, that the public interest and ne- cessity demand the acquisition, construction and completion, by said City of South San Francisco, of certain mu~icipal i~r~rovements, to-wit, a system of fire alarm telegraph apparatus; and that the -2- cost of said municipal improvements would be too great to be out of the ordinary annual income and revenue of said City of Somth ~an Francisco, and would, in addition to the other expenditures of said City of South San Francisco exceed the income and revenue provided for in any one year; and ~hereas the executive of said municipality, the President of the Board of Trustees of said City of South San Francisco, County of San Mateo, State of California, did, on the 6th day of May, 1919, duly and regularly approve such action of said legislative branch and each of the resolutionshereinbefore mentioned; and Whereas the cost of the acquisition, construction and com- pletion of said Oity hall, together with the grading of said Civic Center site, was determined to be $~4,000.00; an~ Whereas the cost of the acquisition, construction and eom. pletlon of said system of sewers was determined to be $35,000.00; ~nereas the cost of the acquisition, construction and bom- plenties of said system of fire.~alarm telegraph apparatus was de- termined to be $10,000.00; and Whereas the indebtedness to be incurred to pay the cost of the acquisition, construction and completion of said city hall, gerber with the grading of said Civic Center site, will be too great to be paid out of the ordinary annual-income and revenue of said City of South San Francisco, and will, in addition to the other expenditures of said City of South San Francisco', exceed the income and revenue provided for in any one year; and Whereas the indebtedness to be incurred to pay the cost of the acquisition, construction and completion of said system of sewers will be too great to be paid out of the ordinary annual income and revenue of said City of South San Francisco, and will, in addition to the other expeaditures of said City of South ~an Francisco, exceed the income and revenue.provided for in any one year; and Whereas the indebtedness to be incurred to pay the cost of the acquisition, construction and completion of said system of fire alarm telegraph apparatus will be too great to be pa~'~ out of the ordinary annual income and revenue of said City of South San Francisco, and will, in addition to the other expend- itures of said City of South San Francisco, exceed the income and rev$~tie provided for in any one year; and Whereas the total assessed valuation of all the real and personal property within said City of South San Francisco is the sum of SE,E$9,?§O.00; and Whereas the ~'~tal in~ebtednes, s hitherto .incurred for public improvements by said City of South San Francisco is $6E,000.00, and of said last mentioned amount the sum of $5E, remains unpaid; an~ Whereas the entire ~ebted~ess herein proposed to be incurred for all said municipal improvements hereinbefore mentioned shall not in the aggregate exceed fifteen per cent (1§%) of the assessed value of all the real and personal property in sai~ of South San Francisco; and Whereas on the 19th day of May, 1919, the said legis!a~ive branch of said City of South San Francisco did' duly and regularly pass and adopt by a vote of more than two-thirds IE/~! of all the members thereof, to-wit, four (4) members of said legislative ~ranch, an ordinance numbered 10~ calling a special election in said City of South San Francisco for the purpose of submitting and submitting to the qualified voters of the City of Sout~. Francisco, said mu~Wipal ~orpormtion, the three following p~e- positions for incurring a bended indebtedness by said City San Francisco, to-wit: PROPOSITION NO. 1 The proposition to incur a bonded indebtedness of $$A,000.00 in Gold Coin of the United States of America for ~he object ama purpose of acquiring, constructing and completing by the City of South San Francisco, a municipal corporation, a city hall and the grading of the Civic Center site in said City, PROPOSITION NO. ~ The proposition to incur a bonded indebtedness of $3§,000.00 in Gold Coin of the United States of America for the object and purpose of acquiring, constructing and completing by the City of South San Francisco, a municipal corporation, a system oi' sewers for that portion of said City lying on the easterly, side of the westerly boundary line of San Bruno Road, PROPOSITION NO. 3 The proposition to incur a bonded indebtedness of $10,000.00 in Gold Coin of the United States of America for the object purpose of acquiring, constrUetimg amd completing a s~wtem of alarm tet~aph apparatus; an~ ' · '""~'"'"'~' ' nee nmmber,e~ 10~ was ~,~Luly and re introduced a~. an a~Jo~Lrned regular meeting of said Board of Tr~ on the lgth day of May, 1919, and is hereby expressly referred to; and Whereas said ordinance numbered 10~ was thereafter, to-wit, on the 19th day of May, 1919, at a regular meeting of said Board Trustees, duly passed and adopted by an affirmative vote of more than two-thirds (~/~) of all the members thereof, to-wit, four of the members of said Board of Trustees of said City of South San 'Francisco; and W~ereas said ordinance numbered 10~ was thereafter on sai~ 19th day of May, 1919, signed and approved by the executive of said City of ~th San t~rancis~o, to-wit, the President of said B-ear~ of True~eee, e£ said~ City of South San I~ran,cisco, and sai~ ordinance was thereafter duly published in all respects as require~ by law and by the terms of said ordinance; and Whereas, on Tuesday, the 10th day of June, 1919, special election, as called and specified in said ordinance numbered lO3, was duly and regularly held and conducted in all respects as required by law and hy said ordinance; and Wherea's, at said special election, the three said pro- positions for incurring a bonded indebtedness and the issuing of bonds for said propositions as specified by said ordinance numbered 103, and hereinbefore mentioned, were duly and regularly submitted to the qualified voters of said City of South San Francisco in all respects as required by law and the provisions of said ordinance calling said special election; and Whereas, at said speoi&l election more than two-thir~s (E/~} of the qualifl~ voters of sai~ City of South San voting at said.-lspeelal in laver of each of sai~ prop o'~t't ion%~' ~$mit%e~ t~:.,,$~-~~Ifie~ ,vo% e~s.~ and a~cept e~ · ..:"(:.:.~.~=~-~.. ef~:-e~.id~..:~$~l%.~Wns,' and ~thereby' authorized issuing of Bonds for such indebtedness as provided by said ordinance and by law; an~:/~: ~hereas all the votes cast at said special election duly and 'properly cast and counted and the returns thereof duly certified, made, and canvassed; and ~hereas the whole number of votes cast and the whole number of voters voting at said special election was four hundred and forty (~40), of which whole number three hundred forty-one (341} voters voting and three hundred forty-one (3~1) votes were cast and given for and in favor of and accepting the proposition to incur a bonded indebtedness of $84,000,00 in Gold Coin of the United States of America for the object and purpose of acquiring, constructing and completing by the City of South San Francisco, a municipal corporation, a city hall and the grading of the Civic Center site in said City, and ninety-four (94) voters voting and ninety-four (94) votes were cast and given aga~'nst said prOposition and rejecting the same; and Whereas, of which whole number of votes cast and voters v~o~i~g at said special election, three hundred ~orty-three (~4~) voters votin~ an~ ~hree h~re~ for~y-t~ee ~) votes were c~s~ an~ ~iven for an~ in favor of an~ accep~in~ ~he proposi~ion ~o inc~ a bon~e~ in~eb~edness of $~,000.00 in ~1~ Coin of ~he United Sta~es of ~erica for ~he obJec~ and p~pose of acquiring, cons~ruc~in~ ~n~ co~le~in~ by ~he City of Sou~h San ~cisco, ~ municipal corporation, a system of sewers for ~h~ portion of sai~ City lyin~ on ~he easterly si~e of ~he wes~erly boundary line of ~n Brio Ro~, an~ ninety-~ne ~1) vo~ers vo~in~ an~ ninety-one (~1) vo~es were cas~ an~ ~iven a~ins~ s~i~ proposition ~n~ reJec~ing She s~me; ~ereas, of which w~ole~mber of votes ~ast and voters vo~ing at said special election t~ee hundred sixty-nine ($69) ............. .~ ....... ~.~S~..~e~ aa~ ~e.e .h~ed~sixty-mXme (.~.)~. votes were cast and given for and in favor of and accepting the proposition t~ ine~ a bonded tndebte~ess of $10,000,00 in ~ld Coin of the United States of ~erica for the object and p~pose of acquiring, constructi~ completing a system of fire alarm telegraph apparatus, and sixty- four (64) voters voting and sixty-four (64) votes were cast and given against said proposition and rejecting the same; and ~ereas each of the propositions hereinbefore mentioned ~s been duly accepted by the q~lified voters of said City of South ~n Francisco and said City of South ~n Fr~cisco ~s been, ~d how is, authorized and empowered to inc~ the aforesaid bonded in- debte~ess and the whole thereof; and ~ereas it is provided in said ordinance n~bered lO~ t~t, if at said special election two-thirds (2/5) of all the voters voting at said special election voted in favor of incurring a bonded indebt~- ness of Eighty-four Thousand Dollars ($84,000.00) for the p~pose ~ted in proposition number one in Section ~ of said ordinance numbered 105, bonds shall be authorized to be issued to the amo~t of Eighty-fo~ Thousand Dollars ($84,000~,~) for the purpose aforesaid; an/[ Whereas it is provided in said or/[inance numbered 103 that, if at said special election two-thirds (2/5) of all the voters voting at said special election voted in favor of incurring a bonded indebtedness of Thirty-five Thousand Dollars ($~5,000.00) for the purpose stated in proposition number two in Section IX of said or/[inance numbered lOJ, bonds shall be authorized to be issued to the amoUnt of Thirty-five Thousand Dollars ($55,000.00) for the purpose aforesaid; and Whereas it is provided in said ordinance numbered 103 that, if at said special election two-thirds (2/$) of all the voters voting at said special election voted in favo~ o~ imcurring a bombed indebtedness of Ten Thousand Dollars E$10,00/).~0) for t~e purpoae stated in proposition ma~ber tkree in Section IX of sal~ erdinane'e ............. H~ieret 103, bonds shall be authorize~ te be iseue~ to the amount of Ten Thousand Dollars ($10~00.00) for the purpose aforesaid; and` Whereas it was in said ordinance numbere/[ 102 provide/~ that said bonds shall be paid for as hereinafter provided, to-wit: The bonds authorized to be issued pursuant to said election shall bear interest from the date of their issuance until paid at the rate of five {5) per cent per annum, payable semi-annually, and the principal and interest of said bonds shall be payable in ~old Coin of the United States of America in the following manneri that is to say: one-thirtieth (1/30) part of the whole amount of the principal of said indebtedness created under any one or any two or all three propositions set forth in subdivisions lettered 'a", ~ and 'e" of Section VI of ~aid ordinance numbered 103 ~hA"Z~ 'b,.,' ~id a~a~ ~,,v,~ .'~er¥~X~][ ..~ the City Treasury of said City of South San Francisco on a day or date to be fixed by legislative branch of sai~ municipality, together with the interest on all sums unpai~ at such date, provided that the interest on such bonds shall be paid semi-annually so that there shall be a payment of interest on all sums then unpaid in each and every half year, one of such semi~annually~p~yments being at the date of the payment of the annual installment of the principal ef such indebtedness, as aforesaid; and Whereas it was further ~rovided in said ordinance numbered 103 that such interest shall be evidenced by the proper coupons attached to said bonds~ separate coupon being attached to each bond for each semi-annual payment of the interest to become d~te on such ~,bond; and that the total indebtedness authorized to be created at said election shall be represented by bonds payable in the manner aforesaid, and that said bonds shall be issued in such denominatiemB as the legisla~Ve branch of said City of South ~an Francisco may determine, except that no bond ahall be of a less denomination than One Hundred Dollars ($100.O0) nor of a greater .~=en~emin~'~ta One Thous~d Dollars ($~000.00) and that said bonds shall be know~ as Municipal Improvement Bonds, Series 1919. Now, therefore, the Board of Trustees of the City of South S~n Francisee~ a municipal corporation in the County of San Marco, State of California, do ordain as follows: SECTION 1. That in accordance with the will of the voters expressed at said special election held on the 10th day of e, and in accordance with said ordinance numbered lOS, regularlF passed and adopted on the 19th day of Nay, 1919, by said Board of Trustees of the City of South San Francisco, County of San Marco, State of California, as aforesaid, and tn compliance with the laws of the State of California, bonds of said City of South San Francisco in the sum of One Hundred Twenty-nine Thousand Dollars ($129,000.~, issued in accordance with the provisions of an act of the Legislat~m of the ~tate of California, entitled "An act authorizing the incurring. of indebtedness by citieS, towns and municipal corporations for municipal improvements, and re~ating the acquisition, construction and comple~ion thereof", which became a law February £Sth, 1901, and all acts amendatory thereof, for the purpose of paying the cost of the following public municipal improvements, to-wit: FIRST. Eighty-four Thousand Dollars ($8A,000.00) thereof for ~the acquisition, construction and completion of a city hall and the grading of the Civic Center site of said City, of South San Franois co; SECOND, Thirty-five Thousand Dollars ('$35,000.00) thereof for the acquisition, construction and completion of a system of s~wers for that portion of said City of South San Francis~°'' on the easterly side. of the westerly bound~y line m.f Sam · a'e~uisition, construction and eempletiem of a sys,~e,m of ............ ~elegraph a~pparatus. Section E. Said bonds shall be negotiable in form amd one hundred fifty (150) in number; they shall be numbered consecutive- ly~from one il) to one hundred fifty (150), both numbers bonds numbered one (1), six (6), eleven ill), sixteen one (El~, twenty-six (E6), thirty-one (Jt), thirty-six (~6), forty- one (Al), forty-six (A6~, fifty-one (~l), fifty-six (§61, sixty-one (~l), sixty-six (661, seVenty-one (?l), seventy-six (?6), eighty- one (81), eighty-six (86), ninety-one (gl), ninety-six (g6), one. hundred one (101), one hundred six (106), one hundred eleven one hundred sixteen (ll61, one hu~udred twenty-one (1El), one hundred twenty-six (1E6), one hundred thirty-one (l~ll, one hundred thirty- six (1J6), one hundred forty-one (~A1) and one hundred forty-six (1~6) shall be of the denomination of Three Hundred Dollars ($~.O0.00) each; the remaining one hundred twenty (lEO) of said bonds shall be of the denomination of One Thousand Dollars ($1000.00) each, and all said bonds shall be payable in Gold Coin of the United States of America, at the office of the City Treasury of said City of South San Francisco, County of San Mateo, State of California. -lC- Said bon~s shall be date~ as of the first day of , September, 1919, an~ shall bear interest from their date until paid at the rate of ~ve (51 per cent per annum, payable semi- annually in like ~old Coin at the office of the City ~reas~y of ~i~ City of So~th ~n Fr~cisco, Cowry of '~n ~teo, 3~te of Cal if ornia. One-thirtieth ~1/~0~ part of the whole amo~t of the prin- cipal of the entire in~e~bte~ess hereinbefore m~tione~ in Section 1 hereof s~ll be pai~ each an~ every year at the office of the City ~eas~y of the City of So~th San Francisco, Co~ty of ~ ~teo, 3ta~e of California, on the first ~ay of September of each ~e~, together with the interest ~n all s~s ~pai~ at such ~ate, provi~e~ t~t ~he interest on sai~ ~onRn a~ll be pa~ble semi- anm~lly ~o that thieve s~ll be a ~a~ent of ~erest on all s~s ann~1 paints in each year being at the date of pa~ent of the a~l'-inst:allment of the principal of said ln~ebte~ess as afore- said, to-wit: on ~he first day of September of each year,an~ the other of such semi-annul pa~ents in each year being on the first day of ~rch, a.nd provide~ f~ther that said interest s~ll be ~"' evidenced by proper coupons attached to said bonds and separate coupons being attached to each bond for each me~-ann~l pa~ent of the interest to become due on such bond; and said bon~s s~ll. ~t~e and be due and pa~ble as follows: Bon~s n~bered one (1), two (2), three (3), fo~ (4)~d five (5) s~ll ~t~e and be due and payable on the first ~ay of 3e~ tember, 19~.; Bonds n~bered six (64 seven (7), eight (8), nine (9)and tea ~'10} s~ll matte and be due and pa~ble on the first day of ~ep tember, 1921; Bonds n~bered eleven (11), twelve (12), thirteen (13), fourteen (14) and fifteen (15) z~ll ~t~e and be due and payable on the first day of.;September, 1922; Bonds numbered sixteen (16), seventeen (17), eighteen (15), nineteen (19) and twenty (20) shall mature and be due and payable on the first day of September, 1923; Bonds numbered tWenty-one (21), twenty-two (2~.), twenty- three (23), twenty-four (24) and twenty-five (25) shall mature and be due and payable on the first day of September, 19£4; Bonds numbered twenty-six (26), twenty-seven (27), twenty- eight (25), twenty-nine (~.9) and thirty (50) shall mature and be due and payable on the first day of September, 192§; Bonds numbered thirty-one (31), thirty-two three (55), thirty-four (54). and thirty-five [35) ~ends numbered thir-~slx .(~). eight (58), thirty-nine 159)and forty (40)shall mature and and payable on the first day of September, 1927; Bonds numbered forty-one (41), forty-two (42), forty-three 145), forty-four (44) and forty-five (45) shall mature and be due and payable on the first day of September, 1928; Bonds numbered forty-six (46), forty-seven 147), forty- eight (48), forty-nine (49) and fifty (50) shall mature and be due and payable on the first day of September, 1929; Bonds numbere~ fifty-one (51), fifty-two (52), fifty-three (55~, fif~y-four (54) and fifty-five (55) shall mature and be due and payable on the first day of September, 1950; Bonds'numbered fifty-six ~5~), fifty-seven (57), fifty- eight (58), fifty-nine (59) and sixty (60) shall mature and be due and payable on the first day of September, 1951; Bonds numbered sixty-one (61), sixty-two (62), sixty-three (65), sixty-four (64) and sixty-five (65) shall mature and be due and payable on the first day of September, 1952; Bonds numbered sixty-six 166), sixty-seven (67), sixty-eight (681, sixty-nine 169) and seventy (70) shall mature and be due and payable on the first day of Sep'tember, 195~; Bonds numbered seventy-one (?ll~ seventy-two (?E)'~ three (?~), seventy-four (?4) and seventy-five (?5) shall m~ture and be due and pa~ble on the first day of September, 19~4; Bonds n~Bered seventy-s~ (~6~, Seventy-seven ~, s~venty- eight (78), seventy-nine (79) and eighty (80) s~ll ~t~e and be due and Dabble on the first'~y of September, 1985; Bonds n~ered eighty-one (81), eighty-two (8E),. eighty- three '(8~, eighty-fo~ ~84) and eighty-five (85) shall ~t~e be d~e and-payable on the first day of September, 19~6; Bonds n~bered ei~ty-six (86), eighty-seven (87), (88), eight (89~ and ninety (9~J s~ll ~t~e an~ Bonds m~bere~ ~[ 91 ), ninety-'two - [ 9 ~) t~ee (gJ], ninety-fo~ [94)'~d ninety~five. (95) s~ll be due and payable on the first day of September, 19~8; Bonds n~ered ninety-s~ (96~, ninety-seven (9~), eight (98), ninety-nine (99) and one h~dred (lO0) shall ~ture ~d be due and pa~ble on the first day of September, 19~9; Bonds n~bered one h~dred and one ~lO1), one hundred and two (1OE), one h~dred and t~ee (10~), one h~ed and~ and one h~dred and five ~lO~) s~ll ~t~e and be due and pa~ble on the first day of September, 19~0; Bonds numbered one h~dred and six (lO~), one h~red and seven ~lO~), one h~dred and eight ~108), one h~dred and nine and one h~ed and ten (llO~ s~ll ~t~e and~ be due and payable on the first day ef September, 19Al; Bonds numbered one h~ed and eleven (lll), one h~dred ~d twelve (llE), one hundred and thirteen (llJ~, one h~ed and fo~teen ~llA~ and one h~ed and fifteen ~ll~) s~ll ~t~e and be due and payable on the first ~y of September, Bonds n~bered one h~dred and sixteen (ll6), one h~dred and seventeen (117), one hundred and eighteen (118), one hundred and nineteen (llg) and one hundred and twenty (lEO) shall mature and be due and payable on the first day of September, Bonds numbered' one hundred and twenty-one (1El), one hun- dred and twenty-two (I~E), one hundred and twenty-three ~3), one hundred and twenty-four (lEA) and one hundred and twenty-five' C125) shall mature and be due and payable on the first day of September, 1944; Bonds numbered one hundred and twenty-six (1E6~, one hundred and twenty-seven (127), one hundred and twenty-eight (128), one h~ed and twenty-nine (lEg) and One~re~ and thirty (1ZQ} shmtI mature and be due and payable on the first day of $e~ar', 19A5;~ Bonds numbered one h~md~r~d and thir~y.~ne ~i~, one ~ h~~ and thirty-two (18~), one hundred a~$ thirty-three eno hundred and thirty-four (l~AI and one hundred and thirty-five Ileal shall mature and be due and payable on the first day of September, 19A6; ~ds mu~mbered one hundred and thirty-six (1J6), one hundred and thirty-seven (137), one hundred and thirty-eight (138), one hundred and thirty-nine ~1~9) and one hundred and forty shall mature and be due and payable on the first day of September, 1947; /~ Bonds numbered one hundred and forty-one (1Al), one hundred and forty-two (1~$~., one hundred and forty-three IIAS}, one hundred and forty-four ~lAA) and one hundred and forty-five (lA§) shall mature and be due'and payable on ~he first day of September, 19A8; Boads numbered one hundred and forty-six (lA&}, one hun~re~ and forty-seven (lA?), one hundred and forty-eight (1AS~;~ one hundred and forty-nine ,~(1Ag) and one hundred and'~ifty (l~O~ ahall mature and be due and payable on the first day of September, 19A9 -lA- Attached to said bonds shall be interest coupons, referring to the number of the bond to which they are attached, which coupons shall each represent the semi-annUal interest on said bond to which it is attached and the number of comports attached to each bond shall be~ equal to twice the number of years the bond has to run before due. -~ch-of said coupons shall represent interest on said bond to which it is attached, for a period of six months immediately preceding the date of maturity of said coupon. The said interest coupons shall, be' payable at the office of the City Treasury of the City of South San Francisco, County of San Ma.tee, State of California. Said bonds shall be signed by the 2resident of the Board of Trustees ef~',~aid City of So~ ~$jFrancisco, who is the chief executive of said legislative.~ bx, aneh, and shall be sigmeA by ~,he Treasurer of said City of South Fx, aneisco, and shall also be reountersig~ed by the Clerk of said Git;y o~"-~outh San Francisco, and ~f~i'~'bon'dS'. shall have affixed therelo corporate seal of said corporation, to-wit: Said City of South San Franc!soo. The interest coupons 'of said bon~s shall be numbered con- seCatively and signed by the Treasurer of said City of South San Francisco. And said bonds elf said'City of South San Francisco shall be substantially in the following form and contain substantially the following recitals, to-wit: UNITED STATES OF AMERICA STATE OF CALIFORNIA, COUNTY OF SAN MATE0, CITY OF SOUTH ~AN FRANC ISC0. MUNICIPAL IMPROVEMENT BOND. Number ........................ $ ...................... KNO~ ALL M~N BY THESE PRESENTS: That the City of South San Francisco, in the County of San Nateo, in the State of California, is~ indebted to and promises to pay to the bearer the sum of ....... . .... ....................... Dollars ($... ........... ) in Gold Coin of the Unitea States of America of the present standard weight and fine- ness, on the first day of September, 19 .... , with interest thereon at the rate of five (5) per cent per annum, payable semi-annually on the first day of Narch and on the first day of September of each year, ~til the principal sum shall be paid, ~pon the presentation and surrender of the coupons hereto annexed and signed by the Treasurer of said City of South San Francisco. Both principal and interest of this bond are and shall be payable at the office of the City Treasury of the City of South San Francisco, County of San Narco, State of California, and all taxable real and personal $~roperty of said city is hereby irrevocably pledged for the prompt payment of this bond ~d the interest thereon as the same matures. This bond is one of a series of bonds of like date, and effect (differing only in the amounts and dates of maturity '~' thereof) iss~e~ by said City of Sou'~t~h, 'San Francisco, for the pu~Dese of paying the costs and expenses of acquiring certain public mun£c!~al improvements in and for said City of South San Francisco, by virtues of and in full compliance with an act of the Legislature of the State of California entitled "~n Act authorizing the incurring of indebted- ness by cities, $owns and municipal corporations for municipal improve-. ments and regulating the acquisition, construction or completion thereof", in effect February 'Z§, 1901, and all acts amendatory thereof, and in strict conformity with the Constitution and Laws of the State of California. And it is hereby certified, asserted and declared, thatthis bond is issued by the authority of more than two-thirds (~3) vote of all the qualified voters of the City of South San Francisco, voting at a special election for that purpose, duly called and held, and in pursuance of ordinances of the said City of South San Francisco duly pasa..e~,., a~opted and approved. And it is hereby certi~, recited and declared that provision has been duly made, and will hePeafter be made in the -16- manner provided by law, for the .levy and collection of taxes annually; sufficient to pay the interest upon this bond, and to discharge and redeem the principal thereof at maturity, and that all other-acts, conditions and things necessary to be done and to exist precedent to the making of said improvements, and the levying of said tax, and in the issuance of this bond and others of the same series have been properly ~.~ne, happened and performed, and do exist in regular and due form, time and manner, as required by the Constitution and I~ws of the State of California and the Ordinances of the City of South San Francisco, and that the total amount oi' bonds isaued or. other ln- debtedne.ss incurred on account of said improVEments does not exceed any statutory or constitutional limitation. '1~ IN 'WITNESS WHEREOF, said City of South San Francisco,~..:~.~ia the · County of San Mateo, State of California, has caused the corporate - seal of said City of South San Francisco to be hereunto affixed, this bond to be signed by the executive of said municipality, to-wit: I~. ;' The President of the Board of Tru~'t-~-~'~" Of said City of South San l~-ancisco, and by the .Treasurer thereof, and to be countersigned by the Clerk thereof, and the coupons hereunto annexed to be signed by the .Treasurer of said City. of South San Francisco, all as of the first day of September, 1919. of the City of South San F~ancisco. (Seal of the City of South San Francisco. ) Francis co. Countersigned by Francisco. ~he interest coupons attic.bed to said bonds and evidencin~ the interest to accrue thereon, shall be in substantially the following form and contain substantially the following recitals, to-wit: COUPON NUMB~ ....... i9...... $ ...... ........ ...... ... The City of South San Francisco, in the County of San Mat.o, in the State of California, will pay to.' the bearer at the office of the Treasury of said City of South San Francisco, the sum of .... .... .........,...............Dollars ($......,.....'} in Gold Coin of the United States of America, being the semi-annual interest upon its municipal improvement bond~.~dated September l, 1919. No ...... ...... T~easurer ef the City of ~euth ~an Francis co. And it is hereby ordered that the executive of said City of' S6Uth ~h-~rk~ciSC0, to-wit: ~he President of the Board of Trustees of said City of South San Francisco be, and he is hereby authorized to sign each and every one of said bonds, as aforesaid as President of the Board of Trustees of said City of South San Francisco, and the Treasurer of said City of South San Francisco be, and he is hereby authorized to sign each and every one of said bonds as the Treasurer of said City of South San Francisco, and that the City Clerk ef said City of South San Francisco be, and he is hereby~ authorized to countersign each and every one of said bonds as Clerk of said City of South San Francisco, and to affi~ the corporate seal of said City of South San Francisco to each and every one of said bonds; and that said signing and aealing shall constitute and be a sufficient and binding execution of each and every one of said bonds by ~aid City~ emf South San Francisco, and that the said Treasurer of the City of South San Francisco be, and he is hereby authorized to mig~ each and every one of the respective coupons attached to each bond the Treasurer of said City of South San resp e~tive Francis,o, and that the said signing of said coupons by said Treasurer shall -18- eomstitute and be a sufficient and binding execution of each and every one of said coupons by said City of South San Francisco. And it is hereby further ordered that in case any of such officers, whose signatures or countersignatures appear on the bends or coupons, shall cease to be such officer before the delivery of such bonds to the purchaser, such signatures or countersignatures shall, nevertheless, be valid and sufficient for all purposes the same as if they had remained in office until the delivery of such bonds. Section 3. And it is further ordained and ordered that there shall be levied and collected each and every year upon all property subject to taxation by said City of South San Francisco t%x sufficient to pay all the interest on said bonded sai~ interest falls due, a~d s=ffi$IeA~.,~j~$~'l~O,~p&y e&e ~hirtiet ~f the whole amount, off 'sai~ 'ia~~~L':~-a~r/~.'eVery year "~nd to pay the whole, amount of the principal an~ interest of said indebtedness on or before maturity; and the said Board of Trus~e;~ hereby makes provision for the levying and collecting of all sums shall or may be necessary to pay in full all of the interest and principal of said bonded indebtedness as the same shall fall due, and hereby contracts and agrees, represents and promises, that such levy shall be made, as aforesaid, in case the said bonds shall be issued, as aforesaid, and so far as this Board of Trustees of the City of South San Francisco, acting in and for the City of South 3an Francisco has p~ower now to make the said levy, do hereby make the same.. And the said Board of Trustees do further ordain that there shall be, and it is hereby provided, that a sinking fund is to be kep~t by the Treasurer of said City of South San Francisco and to be ~[~ignated as the ~$inking Fund for the Payment of the Municipal Improvement Bonds, Series 1919,-and that the proceeds of the levy above mentioned .'~hall be paid into safd sinking fund as soon as the same shall be collected and shall remain in said sinking fund until required for the respective payments of principal and interest to be made upon such bonds; 'and that when the respective payments -19- of the principal and interest of said bonds shall fall due, the Treasurer of said City of South San Francisco be, and he is hereby authorized, directed and commanded to pay out of the moneys of said sinking fund the said respective amounts thereof, whe~ demand shall be made ~erefor, as by law required, and upon the surrender of the corresponding bonds and the coupons to the said City Treasurer of the City of South San Francisco, and it shall be the dm~t2 of the Treasurer of said City of South San Francisco to cancel the same i ~'., lately after their payment; And it is further ordained, represented, promisedsnd agr~e~ that none of the moneys paid into said sinking fund shall be used for any other purpose than the payment of the principal of said indebtedness and the interest thereon until the whole amount of said indebtedness and the interest ihall hate been f~lly pai~A; and that each and every one of the conditions and provisions state~ '~-'~"p~:6~'i]['~d "i~ reI~ion t-0'~ ~' said bonds bY Said iOlr~l~'~-e~il~ng said election and by the laws of the State of California. shall be complied with. Section *. And it is hereby further ordained and ordered that the said bonds be printed or lithographed and the Clerk of this Board be, and he is hereby authorized and directed to have said b~m&s properly printed or li~hographed and that when the same are properly printed or lithographed, said bonds shall then be duly signed by the President of the Board of Trustees of the City of South San Francisco, and signed by the Treasurer of the City of South San Francisco, and also countersigned by the Clerk 'of the City of South San Francisco, as hereinbefore stated, and that, in. lieu of actual signing of ~he,~eeupons by the Treasurer of the City of South san Francisco, the name of said Treasurer of the City of South San Francisco be printed or lithographed upon said coupons to be attached to each of said bonds, and that said printing and litho~ing shall be taken to be the act and deed of the Treasurer of the City of So~h San Francisco thereto. · ~ection 5. This ordinance shall be published once'a ~ek for two {E) weeks in "The Enterprise" a weekly newspaper of general circulation printed, published and circulated one (1) day a week '"in the City of South San Francisco. Section 8. All ordinances and parts of' ordinances in conflict herewith are hereby repealed. Section ?. This ordinance shall go into effect and b in full force and effect after thirty (30) days from and after itS:?i':~i~': final passage, adoption and approval. Introduced' this ~ day of J~1~$, 1919. Passed and adopted as an ordinance of the City of South San Francisco, Co~y of San Mateo, State of California, at a regular meeting of the ~Board of Trustees of ~he City of South San F~an¢is.e~, Jul 1919, by the following vote: Des W..oes, Trustees Absen~ i-Trustees ,. ~;~;:~ ~ of the City of Soagh ~n City o~ ~ FranCisco. I hereby approve the foregoing ordinance this of the City of So~th ~n ~'oo.