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ORDINANCE NO. 1431 <br />AN ORDINANCE OF THE CITY OF NEWPORT BEACH ORDERING, <br />CALLING, PROVIDING FOR AND GIVING NOTICE OF A <br />SPECIAL ELECTION TO BE HELD IN SAID CITY ON JUNE 6, <br />1972, FOR THE PURPOSE OF SUBMITTING TO THE QUALIFIED <br />VOTERS OF SAID CITY CERTAIN PROPOSITIONS TO INCUR <br />BONDED INDEBTEDNESS BY SAID CITY FOR CERTAIN MUNICI- <br />PAL IMPROVEMENTS, AND ORDERING THE CONSOLIDATION OF <br />SAID ELECTION WITH THE STATEWIDE PRIMARY ELECTION <br />TO BE HELD ON SAID DATE <br />WHEREAS, at a meeting held prior to the meetingat which <br />this ordinance is adopted the City Council, by a vote of at least <br />two- thirds of the members thereof, adopted a resolution determining <br />that the public interest and necessity demand the acquisition and <br />construction of certain municipal improvements, and making findings <br />relating thereto; <br />NOW, THEREFORE, the City Council of the City of Newport <br />Beach DOES ORDAIN as follows: <br />Section 1. That a special election be held and the <br />same is hereby called to be held in said City on June 6, 1972, <br />for the purpose of submitting to the qualified voters of said <br />City the proposition hereinafter set forth of incurring indebted- <br />ness and issuing bonds of said City therefor, in the principal <br />amount stated in the ballot propositions hereinafter set forth, <br />and for the objects and purposes set forth in said resolution and <br />in said ballot propositions. <br />Section 2. That the estimated cost of the municipal <br />improvements described in said ballot propositions are as follows: <br />Proposition A: $3,560,000 <br />Proposition B: $2,425,000 <br />Proposition C: $3,000,000 <br />The estimated costs of said municipal improvements include the <br />following: (a) legal or other fees incidental to or connected <br />with the authorization, issuance and sale of the bonds, and (b) <br />-1- <br />ti <br />