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HomeMy WebLinkAboutOrd 124-1924 AN ORDINANCE AMENDING BEOTION ~ OF ORDINANCE NO. 1E2 OF TEE CITY 0F SOUTH SAN FRANOISC0 ENTITLED, "AN 0R- DINANOE DIRECTING AND PROVIDING FOR THE INCURRING BONDED INDEBTEDNESS OF THE CITY OF SleUTH SAN FRANCIS- C0,A MUNICIPAL CORPORATION IN THE COUNTY 0~~ SAN MATE0, STATE 0F CALIFORNIA, IN THE SUM OF FIFTY.~IGHT THOUS- AND D0Y~I~ARS ($58,000.001 GOLD COIN OF THE-UNITED STATES OF AMERICA, TO PAY THE COST OF CERTAIN MUNICIPAL IM- PROVEMENTS IN AND FOR SAID CITY OF SOUTH SAN FRANCISCO, AUTHORIZED AT A SPECIAL ELECTION HELD IN SAID CITY ON THE ~RD DAY OF DECEMBER, 19£~, AND PROVIDING FOR T~ ISSUANCE OF BONDS EVIDENCING SUCH INDEBTEDNESS, SPECI- FYING THE FORM 0F SAID BONDS, PROVIDING FOR A TAX LEVY FOR THE PAYMENT THEREOF, AND CREATING A MUNICIPAL IM- PROVEMENT BOND FUND" PASSED AND ADOPTED BY THE BOARD OF TRUSTEES OF THE CITY OF SOUTH SAN FRANCISCO 0N~H~ E1ST DAY OF JANUARY, 19EA. The Board of Trustees of the City of South San Francisco do or- dain as follows: · Section 1. Section 2 of Ordinance No. 1~£ of the City of South San Francisco entitled, "An ordinance direc~ting and providing for th~ incurring of bonded indebtedness of ~the City of South San Francisco, · a municipal corporation in the 0ounty of San Marco, State of California, in the sum of Fifty-eight Thousand Dollars ($58,000.00) Gold Coin of the United States of America~ to pay ~he cost of certain municipal im- provements in and for said City of South San Francisco, authorized at a special election held in said~ City on the ~r~ day of December, 19~, and providing for the issuance of bonds evidencing such indebtedness, specifying the form of said bonds, providing for a tax levy for the pay- ment thereof, and creating a municipal improvement bond fund", passed and adopted by the Board of Trustees of the City of South San Francisco on the Slat day of January, 19£A, is hereby amended so that said Section £, as amended, shall read as follows: Section £. Said bonds shall be negotiable in form and sixty in number; they shall be numbered consecutively from one (ll to sixty (601, both numbers inclusively. Bonds numbered six ~81, ,~welve ~1£), eighteen ~181, twenty-four (E~), thirty ~80), thirty-six ~61, forty- two ~A£1, forty-eight ~ASI, fifty-four (~AI and sixty (601 shall be of -1- the ~enomination of Eight Rundre~ Dollars ~$800.00} each; the remain- ing fifty (50) bon~s shall be of the denomination of One Thousand Dol- lars ($1,000.00) each, and all said bonds shall be payable in Gol~ 0oin of the United States of America, at the office of the City Trea- sury of said 0ity of South San Francisco, 0ounty of San Mateo, State of California. Said bonds shall be date~ as of the 1st day of June, 19£4, an~ shall bear interest from their date until paid at the rate of five (5) per cent per annum, payable semi-annually in like Gold Coin at the of- fi~e of the City Treasury of said City of South San Francisco, County of San Mateo, State of California. One-tenth (1/10) part of the whole amount of the principal of the entire indebtedness hereinbefore mentioned in Section 1 hereof shall be paid each and every year at the office of the City Treasury of the City of South San Francisco, County of San Mateo, State of California, on the 1st day of June of each year, together with the interest on all sums unpaid at such date, provided that the interest on said bonds shall be payable semi-annually so that there shall be a payment of interest on all sums then unpaid in each and every one-half ~1/£1 year; one of such semi-annual payments in each year being on the 1st day of June of each year, and the other of such semi-annual payments in each year being on the 1st day of December, and provided further that said interest shall be evidenced by proper coupons attached to said bonds and separate cou- pons being attached to each bond for each semi-annual payment of the interest to become due on such bond; and said bonds shall mature and be due and payable as follows: Bonds numbered one (1), two (2), three (3), four (4), five (5) and six (6) shall mature and be due and payable on the 1st day of June,1925; Bonds numbered seven (?), eight (8), nine (9), ten (10), eleven (11) and twelve (12) shall mature and be due and payable on the 1st day of June, 1926; -2- Bonds numbered thirteen (13), fourteen (14), fifteen (16), teen (16), seventeen (l?) and eighteen (18) shall mature and be due and payable on the 1st day of June, 19~.?; Bonds numbered nineteen (19), twenty (E0), twenty-one ('El), twen- ty-two (££), twenty-three (£~) and twenty-four (£4) shall mature and be due and payable on the 1st day of June, 19£8; Bonds numbered twenty-five (E6), twenty-six (~.6), twenty-seven (~?), twenty-eight (ES), tweedy-nine (Eg) and thirty (~0) shall mature and be due and payable on the 1st day of June, 19E9; Bonds numbered thirty-one ($1), thirty-two (~E), thirty-three (5~), thirty-four ($4), thirty-five (56) and thirty-six (56) shall mature and be due and payable on the 1st day of June, 1950; Bonds numbered thirty-seven (~?1, thirty-eight (~8), thirty-nine (59), forty (40), forty-one (41) and forty-two (4E) shall mature and be due and payable on the 1st day of June, 19~l; Bonds numbered forty-three (45), forty-four (44), forty-five (46), forty-six (46), forty-seven (471 and forty-eight (48) shall mature and be due and payable on the 1st day of June, 195£; Bonds numbered forty-nine (49), fifty (50), fifty-one (61), fifty- two (SE), fifty-three (65) and fifty-four (64} shall mature and be due and payable on the 1st day of June, 19~; Bonds numbered fifty-five (55), fifty-six (56), fifty-seven (57), fifty-eight (68), fifty-nine (59) and sixty (60) shall mature and be due and payable on the 1st day of June, ~1954; 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 bonds to which it is attach- ed and the number of coupons attached to each bond shall be equal to twice the number of years the bond has to run before due, Each 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 of- lice of the City Treasury of the City of South San Francisco, County of San Mateo, State of California. Said bonds shall be signed by the Pre- sident of the Board~' of Trustees of said City of South San Francisco, who is the chief executive of said legislative branch, and shall be signed by the Treasurer cf said City of South San Francisco, and shall also be countersigned by the Clerk of said 0ity of South San Francisco, and the bonds shall have affixed thereto the corporate seal of said corporation, to-wit: Said City of South San Francisco. The interest coupons of said bonds shall be numbered consecutively and signed by the Treasurer of said City of South San Francisco. And said bonds of said City of South San Francisco shall be sub- stantially ~in the following form and contain substantially the following recitals, to-wit: UNITED STATES OF AMERICA STATE OF CALIFORNIA, COUi~TY OF SAN MATEO, CITY OF sOuTH SAN FRANCISCO, MUNICIPAL IMPROVEMENT BOND. Number ..... $ ..... KNOW AI~ MEN BY THESE I~RESENTS: That the City of South San Francisco, in the County of San Mateo, in the State of California, is indebted to and promises to pay to the bearer the sum of ...................... . ...................... . Dollars [$ ............... ) in Gold 0oin of the United States of America of the present standard weight and fineness, on the 1st day of June, 19 ..... , with interest thereon at the rate of five ~5) per cent per annum, paya- ble semi-annually on the 1st day of December and on the 1st day of June of each year, until the principal sum shall be paid, upon the presenta- tion and surrender oS the coupons hereto annexed and signed by the Trea- surer 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 Treasurer of the City of South San Francisco, 0ounty of San Mateo, State of Calif- ornia, and all taxable real and personal property of said city is hereby -4- irrevocably pledged for the prompt payment of this bond and the interest thereon as the same matures. This bond is one of a series of bonds of ~lke date, tenor and effect (differing only in the-amounts and dates of maturity thereoft issued by said City of South San Francisco, for the purpose of paying the costs and expenses of acquiring certain public municipal improvements in and for said City of South San Francisco, by virtue of and in full compliance with an act of the Legislature of the State of California entitled "An act au- thorizing the incurring of indebtedness by cities, towns and municipal corporations for municipal improvements and regulating the acquisition, "in effect February 25, 1901 and all construction or completion thereof, , 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 that this bond is issued by the authority of more than two-thirds (2/3) 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 or- dinances of the said City of South San Francisco duly passed, adopted and approved. And it is hereby certified, recited and declared that provision has been duly made, and will hereafter be made in the manner provided by law, for the levy and collection of taxes annually, sufficient to pay the in- terest 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 done, happened and performed, and do exist in regular and-due form, time and manner, as required by the Con- stitution and Laws of the State of California and the Ordinances of the City of South San Francisco, and that the total amount of bonds issued or other indebtedness incurred on account of said improvements does not exceed any statutory or constitutional limitation. IN WITNESS WHEREOF, said City of South San Francisco, in the County of San Mateo, State of California, has caused the corporate seal of said City of South San Francisco to be hereunto affixed, and this bond to be signed by the executive of said municipality, to-wit: The President of the Board of Trustees of said City of South San Francisco, 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 1st day of June, 1924. 'l~resident of the Board of Trustees of the City of South San Francisco. (Seal of the City of South San Francisco. ) TreaS~rer of the City of South San Francisco. Oountersigned by Olerk of the Oity of South San Franc is co. The interest coupons attached to said bonds and evidencing the int- erest to accrue thereon, 'shall be in substantially the following form and contain submtantially the following recitals, to-wit: COUPON NUMBER ....... .... ... $ ....... The City of South San Francisco in the County of San Mateo, in the State of California, will pay to the bearer at the office of the Trea- sury of said City cf South San Francisco, the sum of .................. ................ . ........................ Dollars in Gold Coin of the United States of America, being the semi-annual in- terest upon its municipal improvement bond dated June l, 19EA. No ................ Treasurer of the City of South San Franc is c o. -8- And it is hereby ordered that the executive of said City of Soath San Francisco, to-wit: The 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 Ci~y 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 Oity Olerk of 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 ~rancisco, and to affix the corporate seal of said City of South San Francisco to each and every one of said bonds; and that Said signing and sealing shall constitute and be a sufficient and binding execution of each and every one of said bonds by said City of South San ~ranoisco, and that the said Treasurer of the City of South San Francisco be, and he is hereby authorized to sign each and every one of the respective coupons attached to each res- pective bond as the Treasurer of said City of South San Francisco, and that the said signing of said coupons by said Treasurer shall constitute 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 bo~s 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 2. This ordinance shall be published once a week for two (£) weeks in "The Enterprise", a weekly newspaper of ~eneral circulation, published and circulated one fl) day a week in the City of South San Francisco. I Section 3. This ordinance is an ordinance for the immediate pre- servation of the public health in said City ef South San Francisco and the facts constituting its urgency are declared to be as follows:~ there are no sewers in the portions ef said city described as follows: that portion ef San Bruno Road from Ohapman Avenue to the north bound- ary line of said city or in Butler Read, and that portion of said city lying west of Chestnut Avenue; the construction of such sewers is nec- essary for the immediate preservation of the public health in said city. For the foregoing reasons this ordinance shall take effect and be in force upon its final passage. Introduced this ~ ~ day of /~ay, 1924. Passed and adopt ed as an ordinance of the City of South San Fran- cisco, County of San ~ateo, State of California, at a regular meeting of the Board of Trustees of the City of South San Francisco, this ~ ~ day of June, 1924, by the following vote: Ayes,~Trustees _~~ Noes, Trustees Absent, Trustees ~~z~t h~o~oo~f Trustees AtteSt:~/.~/~~..~~~,, (~ _,j~.~/~/ of the City of South San Francisco. City_~tex~k:~f the City South San Francisco.~,? I hereby approve the foregoing ordinance this 2~ day of 19 24. June, ~en~~ o f/~t~?~~rus tees of the City of South San Francisco.