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HomeMy WebLinkAbout271 - Municipal Improvement District Boundariesoil ins'lNCE NO. 871. -N AN ORDINANC:E OF THE CITY OF NEWPORT BEACH DEFINING AND ES_TABLISHLSG THE BOUN. DARIES OF A MUNICIPAL AIL PROVEMENT DISTRICT IN SAID CITY, DESIGNATING THE NAME BY WHICH IT SHALL BE KNOWN AND CALLING AN ELECTION TO BE HELD WITHIN THE DIS- TRICT, AND PROVIDING FOR THE SUBMISSION TO THE ELEC- TORS THEREOF A PROPOSITION OF INCURRING A DEBT BY THE ISSUANCE OF THE BONDS OF SUCH DISTRICT FOR THE PUR. POSES SET FORTH IN ORDIN. ANCE OF INTENTION NO. 867, RECITING THE OBJECTS AND PURPOSES FOR WHICH THE PROPOSED INDEBTEDNESS IS TO BE LNCURRED, THE NATURE OF THE IMPROVEMENTS TO BE AC -1 QUIRED, THE ESTIMATED COST THEREOF, THE AMOUNT OF THE PRINCIPAL OF THE INDEBTED. NESS TO BE INCURRED THERE. FOR, AND THE RATE OF INTER- EST TO BE PAID ON SAID IN- DEBTEDNESS, FIXING THE DATE ON WHICH SUCH ELECTION SHALL BE HELD, THE MANNER OF HOLDING THE SAME, AND THE MANNER OF VOTING FOR OR AGAINST SAID PROPOSITION. The Board of Trustees of the city of Newport Beach do ordain as fol- lows: SECTION 1. That portion of the city of New- port Beach, the exterior boundaries of which are in this Ordinance describ- ed, is hereby declared to be and is formed into and shall constitute a municipal improvement district for the purpose of creating an indebted- ness to be represented by bonds of such district, for the objects and pur- poses hereinafter set forth, the said District to be known as and called MUNICIPAL IMPROVEMENT DIS- TRICT NO. 4 OF THE CITY OF NEWPORT BEACH. .SECTION 2. The exterior boundaries of Munici -i pal Improvement District No. 4 of thel city of Newport Beach are hereby described, defined, and established as i follows: Located in the city of Newport Beach, County of Orange, State of, California, and beginning at the in- tersection of the northeasterly line of Surf Avenue, and the northwesterly line of B Street; thence southeasterly along the northeasterly line of Surf Avenue to the southeasterly line of E Street; thence southeasterly in a di- rect line to the southwesterly corner of Lot "F" of Tract No. 618, as per map thereof recorded in Miscellane- ous Maps Book 17, pages 33, 34, 35 and 36, Records of Orange County, Cali - fornia; thence southeasterly along the southwesterly and southerly lines of Lots F. G. ti. I. and J, of the afore- said Tract No. 518 to the southeasterly corner of the last nlentioned Lot J; thence northwesterly in a direct line to the most southerly corner of Lot 1, Block "P" of the aforesaid. Tract No. 518; thence northeasterly along tkle SOAtheagteriy line of the last men- tioned Lot 1 to the most easterly corn- er of the last-mentioned Lot 1; thence northwesterly along the northeasterly line of the last mentioned Lot 1 and along the northeasterly line of Lot "If ", Block "P ", of the aforesaid Tract No. 518, to L`. S. Bulkhead Sta- tion No. 108, as said Bulkhead Sta- tion is laid out and shown upon a map of Newport Bay, California, show- ing harbor lines, approved by the War Department, January 18, 1917; thence northwesterly, along the U. S. Bulk- head line, extending from U. S. Bulk- head Station No. 108 to U. S. Bulkhead Station No. 109,'as said Bulkhead line and Bulkhead stations are laid out and shown upon the aforesaid Map of Newport Bay, California, showing harbor lines, to the last mentioned U. S. Bulkhead Station No. 109; thence northwesterly in a direct line to the . northeasterly corner of Lot 7, Block "S" of the Bay Front Section of the Balboa Tract, as recorded in MIS - cellaneous Maps Book 6, page 15, rec- ords of Orange County, California; thence westerly and northwesterly along the northerly and northeasterly' line of the aforesaid Bay Front Sec- tion of the Balboa Tract to its Inter - i section with the northeasterly pro - longation of the northwesterly line ot. B Street; thence southwesterly along the northwesterly line of B Street to the place of beginning. (The use hereinafter in this Ordin- ance of the words "the district.' means and shall at all times and places be' held and construed to mean Ilunlci- -pal Improvement District No. 4 of the city of Newport Beach as above des- cribed.) SECTION 3. An election is hereby called and ordered to be held in Municipal Im- provement District No. 4 of the city of Newport Beach on Monday, the 2nd day of February, 1925, for the purpose of submitting and at said election there shall be and is hereby( submitted to the qualified voters of the. district the proposition of in -. curring a debt by the Issuance of bonds of Municipal Improvemient Dis- trict No. 4 of the city of Newport Beach, for the purposes set forth in Ordinance of Intention No. 267. The nature of the improvement to hs acquired and the estimated cost thereof are as follows: A right of way for public street purposes and upon which to construct Land maintain a public street, over, ne- on, and along all that certain real property within the municipal Im- provement district located in the city of Newport Beach, County of Orange State of California, and Beginning at the intersection of the northwesterly line of B Street and a ( line, which line is six (6) feet south- westerly of and parallel with the northeasterly line of Central Avenue; thence southeasterly and easterly along a line, which line is six,(6) feet southwesterly of and parallel with the northeasterly and northerly lines of Central Avenue, to the southerly prolongation of the easterly line of L Street; thence southerly along the easterly line of L Street to the south- erly line of Section 35, Township 6 South, Range ID West, 'San Bernar- dino Base and Meridian; thence west- �r arty along the soutner y One or the last mentioned Section 35 t¢.ita hater- section with a line, which line `f9 (6) feet northeasterly of and pars with the southwesterly line of that. part of Central Avenue lying easterly of E. Street; thence northwesterly along a line, which line is six (6) feet northeasterly of and parallel with the southwesterly line of Central Avenue to its intersection with - the north= westerly line of B Street; thence northeasterly along the northwesterly. line of B Street to the place of begin- Ding. i SECTION 4. The estimated cost of the acquisi-1 tion of the described right of way [or 1 public street purposes and there are h- - connected therewith, and the prinet- pal of the indebtedness to be incurred therefore is the sum of $54,000.00. The objects and purposes for which the proposed indebtedness is propos -; ed to be incurred* in tha=w: at'$5 #, 000.00, is to pay the cost of the So- quisition of the described right of way for public street purposes and upon which to construct and maintain a public street. The acquisition of the described right of way is necessary for the pur- pose of a public street in the drotrtatv 1 in order to furnish and provide a safe; Illl adequate and convenient means oft public travel, and is a public improve- ment which the city of Newport Beach is authorized by law to acquire. SECTION 5. For the purpose of holding tho. election, Municipal Improvement Diems trict No. 4 of the city of NS"bif" Beach shall be and constitute - -sips voting precinct and Mrs. M. D. Ady's garage within the district is hereby designated and established as the polling place, at which polling place the polls shall be opened at the boor., open to the hour of seven o'clock p.• m. of the day of election, except as{ provided for in Section 1164 of the Political Code. A Board of Election, consisting -Of one inspector, one judge, and ene� clerk, each of whom is an actual rest dent and a qualified elector of the district, is hereby appointed to $old,; conduct and make returns of said election as follows: N Inspector— Horace G. Miller. Judge —Ethel B, Hill. Clerk— Mollie D. Ady. The election shall be a special elec -! tion and the manner of- holding 'the � same, and the manner of voting for or arafst said proposition shall be as follows: and in all particulars not re- cited in this Ordinance, the election shall be held as provided by law for holding general municipal elect -lmia in the city of Newport Beach. " The proposition of incuring a bond- ed debt and the Issuance of the bonds of the district in the principal sum of the indebtedness and for the objects and purposes hereinbefore recitedi shall be by means of a printed ballot. Ii Each ballot shall have printed on the face thereof the following: BOND ELECTION MUNICIPAL IMPROVEMENT AIy TRICT NO. 4 OF THE CITY OF NEWPORT BRACH. INSTRUCTIONS TO--1"Illm y,:l To vote in favor of the propoBltioir i stamp a cross (x) in the voting square at the right of the word YES follow- ing the proposition to be voted upon. To vote against the proposition stamp a.cross (x) in the voting square at the right of the word NO following the proposition to be voted upon. �. All marks except the cross (x) are forbidden. All distinguishing marks or erasures are forbidden and make) the ballot void. If you wrongly stamp,; tear, or deface this ballot, return it to the inspector of election and obtain another. PROPOSITION Shall Municipal Improve- ment District No. 4 of the •I city of Newport Beach in- YES i cur a debt and issue the bonds of said district for the acquisition of a right of way for public street NO purposes in the sum of • $54,000.00? At the election any qualified voter (of the district may vote YES and in favor of the issuance and sale of the !bonds of the district for the described 1` proposition by stamping a cross (xl ! on his or her ballot opposite the word YES following the Proposition and f any qualified voter of the district may vote against the Proposition by stamp- ` tug a cross (x) on his or her ballot after the word NO following the prop o i[ 1 If at such election twoAhirda or more of all the voters voting thereat shall vote in favor of incurring the indebtedness set forth for the deserib- ed purpose, then the Board of Tras- tees of the city of Newport Beach shall thereupon be authorized and empowered to issue the bonds of Municipal Improvement District No. 4 of the city of Newport Beach in the principal sum and for the objects and purposes for which the same was voted: If the issue and sale of the bonds of the district are. authorized at said lelection, the bonds of Municipal Im- provement District No. 4 of the city of Newport Beach will be issued and sold by the Board of Trustees of the city of Newport Beach as it may, de- termine but no bonds shall be sold for less than Par value and interest accrued thereon at the date of delty- ery. No bond shall be issued in a greater denomination than $1,000.00, or a leas denomination than $100.00. ly The indebtedness shall be repre- sented by fifty -four (54) bonds of the ! district, each in the denomination of $1,000.00, and numbered from I to 64, l both inclusive, and said bonds shall be Issued and sold by the Board of ( Trustees of the city of Newport Beach to the highest bidder therefor in cash, lawful money of the United States, but for not less than their pm value and accrued interest thereon- the_proceeds from the sale of any such onds shall be placed in the treasury (of the city of Newport Beach to the of the municipal improvement district fund, and shall be applied ex- clusively to the purposes for which the same was voted. All said bonds shall be dated the let day of March, 1925, and each and every bond issued and sold and the taomeyJhpreby, represented shall bear Wteiest at the rate of 6% per'annam, and which interes a all a p'3— aid seml- annually, on the 1st day of September and March. after their date, until said bonds shall have been paid, principal and interest. On the lot day of March, 1926, Bonds Nos. 1, 2, 3 shall be paid, and annually thereafter on the Ist day of March three (3) addi- tional of said bonds in successive numerical order shall De paid, making an annual Payment of $3000.00. All bonds issued shall be signed by the President of the Board of Trustees of the city of Newport Beach, also signed by the Treasurer thereof, and countersigned by the Clerk. The in- terest on said bonds shall be repre- sented by coupons which shall be numbered consecutively, and signed by the Treasurer of the City of New- port Beach by his engraved or litho- (graphed signature. All of said bonds and the interest thereon to be paid at the treasury of the city of Newport Beach, in said city, County of Orange, State of Cali - ifornia. SECTION 6. The Board of Trustees of the city !of Newport Beach shall, at the time of fixing the general tax levy and in the manner for such general tax levy provided, levy and collect a tax each year upon the taxable property in Municipal Improvement District No. 4 of the city of Newport Beach suffi- cient to pay the interest on all bonds issued for that year, and such a por- tion of the principal thereof as fs to become due before the time for mak- ing the next general tax levy. Such tax shall be in addition to all other taxes levied for municipal pur- poses and when collected shall be paid into the treasury of the city of New- port Beach and be used for the pay- ment of the principal and interest on such bonds and for no other purpose. The principal and interest on such bonds shall be paid by the Treasurer of the city of Newport Beach in the manner provided by law for the payment of principal and interest on bonds of said city, and 3t the times and in the amounts in this ordinance described. There being no daily newspaper published In the city of Newport Beach, this ordinance shall be Pub - lished twice in NEWPORT NEWS, a. weekly newspaper of general circuffi- tion printed and published in said city, land hereby designated for that pur- 1 Pose, and this ordinance and the pub - tlication thereof, as herein provided, !she]] constitute the notice of election, and no other notice need be given. SECTION 7. This ordinance calling and other- wise relating to an election, shall take Offset and be in force from and after its passage. The above and foregoing ordinance was passed at a regular meeting of the Board of Trustees of the city of Newport Beach held on the 29th day of December, 1924, by the vote of the following named members thereof, to- wit: Ayes. Trustees, GEO. P. WILSON, 11. C. S•LOAN, CONRAD RICHTER: L. S. 'WILKINSON. Noes, Trustees, NONE. Absent, Trustees, FRED W. YOUNG. The above and foregoing Ordinance No. 271 having been passed, is Chic 29th day of December, 1924, signed and approved by me. GEO. P. WILSON, President of the Board of Trustees Of the city of Newport Beach. Attest: �; •AzSE$RING, Clerk of ttie .vf33ewport Beach.