HomeMy WebLinkAbout369 - Special Election - 10-22-1929ORDINANCE. N0. 369
AN ORDINANCE OF THE CITY
OF NEWPORT BEACH, CALF.
F'ORNIA, PROVIDING FOR THE
ISSUANCE OF BANDS OF SAID
CITY IN THE AMOUNT OF
TWO HUNDRED THOUSAND
DOLLARS ($2(My99MW) FOR
THE ACQUiISITION,' C 0 N -
STRIICTTON' AND COMPLETION
OF A CERTAIN MUNICIPAL
IMPROVEMENT; TO -WIT, THE
IMPROVEMENT (IF THE MU-
NICIPAL HARBOR BY DEEP -1
ENING AND DREDGING THE'
CHANNEL AT THE ENTRINCE
THEREOF AND BY THE AC-
QUISITION AND CONSTRUC-
TION OF VARIOUS GROINS'
FOR THE PURPOSE OF CON-
TROLLING THE TIDE AND
PROTECTING EXISTING JET -'
TIES AND SHORELAIYDS AND
INCLUDING FOR SAID PUR-1
POSE THE ACQUISITION OF
LANDS AND RIGHTS -OF -WAY
IN ACCORDANCE WITH AND
AS AUTHORIZED BY THE
SPECIAL ELECTION HELD IN
SAID CITY ON THE `LAND DAY
OF OCTOBE& I"-
WHEREAS, a special election
was held on the 22nd day of Oc-
tober, 1929, in the City of Newport
Beach, County of Orange, State of
California, in accordance with the
provisions and requirements of
Resolution No. 526 of said City and
of Ordinance No. 366 of said City,
calling and providing for and giv-
ing notice of an election, at which
election there was submitted to
the qualified voters of said C£ty.
the following prepO0 Lo -Wit:
Shall bonds of the City of New-
port Beach in tine suns of two hun-
dred thousand dollars ($200,000.00)
be issued for tine acquisition and.
construction by said City of New-
port Beach of it certaini municipal
improvement, to -wit, the improve-
Mehl of tine municipal harbor by
"deepening and dredging the than-
eel at the entrance thereof, and by
i the acquisition and` "construction of
varirns groins for the purposo of
c ondrolltng the tide and protecting
(ue existing jetties and shorelands
rml ncluding for said purpose ' the
auluie;tum of lands and rights -of-
way and
',\'IiLRE4.S, all and sir.guiar the r.
- provernenT to-wit, the improve-
thereof ", which became a law Feb -
ment of the municipal harbor by
ruary 25, 1901, and acts amenda-
deepening and dredging the than-
tory thereof, .and in pursuance of
e,d at the entrance thereeof and by
t the constitution and statutes of
the acquisition and construction
the State of California and the or-,
of various groins for the purpose
dinance of the City Of Newport
of controlling the tide and protect -
ing existing jetties and shorelands
Beach, and be% been authorized by
vote of more than two-thirds (2/3)
and including for said purpose the
of the qualified voters of said City !
acquisition of burls and rlghta -oh
voting at a special election duly
way, which bonds shall be desig-
and regularly called, held and con-
noted "City of Newport Beach Har-
ducted in said City on the 22mi
bor Improvement Bonds, 1929 .
,lay cf October, 1'929. I
Said bonds shall be two hundred
!: It is hereby certified, recited arai
(200) In number and shall be
declared that all acts, conditions'
numbered from are (1) to two
and things required by law to ex-
hundred (200) inclusive, each in
ist, happen and he performed pre -
the denomination of one thous-
to and in the issuance Of
00.00)
and dollars ($10. All 04 said
�eedent
.this bond have existed, happene d'
braids shall be da[ed December 1,
and, been performed in due time'„
1929. and shall bear Interest at a
form and manmer as reghlred by
rate not to exceed six per centj
11w4 and that the amount of this.
if.%) per arum, payable semi-
lband, together witli all other £n-
annually on the first days of June
debtedness of said' City does not
and December in each year, said
exceed any limit prescribed by
interest rate Co be definitely fixed
ithe ronstlt.ation or statutes of said
hereafter by resolution, and the
State and that provision has been
principal and interest thereof shallimade
is required by the constita-
be. payable in lawful money of the
Ftion and statutes Of aald State for
United States of America. The.fUo
collection of an annual tax
principal of said bonds shall be
sufficient to pay the interest on
p::yable as follows:
this bond as it falls due and tar
Ten bonds shall be due and pay -,the
payment of the prircipal of
able on the first day of December
this bond on or before maturity.
for each of the years 1930 to 1949,
The full faith and Credit of said
inclusive.
City are hereby pledged for the
Section 2. Said bonds issued
punctual payment of this bond and.
hereunder shall be issued in ac-
interest therema.
cordance with the provisions of an
IN WITNESS WHEREOF said
Act of the Legislature of the State
City of Newport Beach has caused �
of California entitled "An Act
this bond to be executed by Its
Authorizing the Incurring of In-
Mayor and President Of the City
debtedness by Cities, Towns. and
Council and Hoard of Trusteef, and
Municipal Corporations for Mu-
by its Treasurer, and couatersign-
nicipal Improvements and Rego-
sit by Its Clerk, and attested Dy the
lating the Acquisition, Construe-
Seal of said City this first day oY
l
Lion and Completion thereof ",
December, 1929.
parts
dmthere
and
acts
amendatory is and l the
of the City of oY NewpBoard Beaeh, Cali-
general municipal corporation acts
of the State of California relating
(SEAL)
to cities of the sixth class and of
--------------------------------------------------------
City Treasurer of the City of
the constitution of the State of
Newport Beach, California.
California and the ordinance of the
City of Newport Beach. Said bonds
Countersigned:
shall be substantially in the fol-
------ -'"""""""""""""-" " " " " " " " " " " " " " " " " " " " " " " " " " " " "
City Clerk of the City of
lowing form:
(Form of Bond)
•Newport. Beach, California.
STATE. OF CALIFORNIA
Coupons shall be attached to
CITY OF NEWIORT BEACH
each of said bonds for the inter -
CITY OF NEWPORT BEACH
eat accruing thereon, which said
HARBOR IMPROVEMENT
coupons shall be in substantially
BONDS, 1929
the following form, to-wit:
piovislous Of an Act of the Legla -II No . ............... ..... __ $1,000.00
taints of the State of CaH4ornia; Newport Beach, California.
entitled "Ail Act Authorizing the II December 1, 1929.
Incurring of Indebtedness by Cit -' For value received the City of
its, Towns and Municipal Corpora - Newport Beach, a municipal cor-
tions for Municipal Improvements �l potation, duly organized and ex-
I and Regulating the Acquisition, isting under and by virtue of the
Construction or Completion there laws of the State of California,
lof", which became a lave Febru- hereby acknowledges its indebted-
!, sty 25, 1911, and all acts er parts ness and promises to pay- to the
i of acts supplementary thereto or I bearer on the first day of Deters-
amendatory thereof and all the I bee 19........ (year of maturity) ONE
general municipal corporation. acts THOUSAND DOLLARS ($1,000.00)
of the State of California relating with interest thereon at tine rate
to cities of the sixth class and of of ......-- ....... per cent per annum,
Ithe constitution of the State of payable semi- annually on the first
California and ordinances of the days of June ana December, on
City of Newport Beach having presentation and surrender of the
been in all particulars fully com- coupons hereto attached as they
plied with so as to authorize the respectively become due, both
Issuance of said bonds; principal and interest being pay -
NOW, THEREFORE, the City I able to lawful money of the United
Council and Board of Trustees of States of America at the office of
the City of Newport Beach, Cali- the City Treasurer of said City of
forma, does ordain as follows: Newport Beach.
Section 1. That bonds of the This bond 1s issued utdor and
City of Newport Beach in the. , in pursuance of an act of the
amount Of TWO HUNDRED I Legislature of the State of Cali -
THOUSAND DOLLARS ($200,000-1 fornia entitled "An Act Authorizing
00) be issued for the acquisition,) the Incurring of Indebtedness by
construction and completion by Cities, Towns and Municipal Corn.
said City of certain municipal im- porations for Municipal Improve-
"ments and Regulating the Acquisi-
tion, Construction and Com9letion
No. $..—_......._..
On the first day of.- .....................
(month of maturity) 19 ------- . (year
of maturity), the City of Newport,
Bosch, California, will pay to j
bearer at the office of the City
Treasurer of said City the sum of
.. ................... _ .... Dollars 0 ; ................I
in lawful money of the United
States of America, being six (6)
months interest then due on its
Newport Beach Harbor Improve-
ment Bond 1929 No ......................
December 1, 1929. l
............................. _..11..11.... .... .........
City Treasurer of the City of
Newport Beach, California -
That interest coupons shall be.
attached to each Bond to the num-
ber of twice the number of years
such Bond will run until maturity
thereof; that the coupons so at-
tached shall be In the amount of
....... _ ................... Dollars ($................).
Section 3. That the Mayor of
and the President of the City
Connell and Board of Trustees of
the City (it . Ne,*port Beach and the
C City Treasurer of said City are
Mhereby authorized and directed to,
sign said bonds and the City.,Clerk
of said City is hereby authorized
and directed to countersign said
bonds and to affix thereto the cor.
porate seal of said City, and the•',
City Treasurer o2 said city is for -until there shall be. a sum inT
ADOPTED, SIGNED AND AP-
,
hereby authorized to sign all of the treasury of said City set apart
PROVED this 4th day of November,
I
said interest coupons of said bonds. for that purpose sufficient to meet i
1929.
by his printed, lithographed or en- it all sums coming due for principal
MARCUS J. JOHNSON,
graved -signature and to number, and interest on said bonds, a tax.
Mayor of and ,President of the
consecutively the coupons of each j
sufficient to pay the annual inter -1
City Council and Board of Trustees
of said bonds.
est on such bonds and also such i
of the City of Newport Beach, Cali -
Section 4. That. all bonds is -'
part of the principal thereof as
fornia.
sued in pursuance hereof shall be
shall become tine before the time
Attest:
sold iu the manner provided by
for fixing the next tax levy. All
ALFRED SMITH,
law for not less than their par
taxes herein required to be levied
City Clerk of the City of
value. Said bonds shall bear inter - I
shall be in addition to all of the
Newport Reach, California.
est at a rate not to exceed six
taxes levied for municipal pur-
STATE OF CALIFORNIA, )
per cent (64'0). The proceeds from I
poses and shall be collected at the
County of Orange, ) as.
the sale of said bonds shall be
and In the manner as other
City of Newport Beach. )
placed in the treasury of the City
municipal taxes are collected and �.
I, .Alfred Smith, City Clerk of
of Newport Beach to the credit of
forthwith shall be turned 'over and i,
the City of Newport Beach, do
a fund to be known as "Newport
paid into a fund of the City of
hereby certify that the whole num-
Beach Harbor Improvement Bonds
Newport Beach to be known as
her of members of the City Council
1929 Interest and Redemption
"Newport Beach Harbor Improve+
and Board of Trustees of the City
Fund," and shall be applied to the
ment Bonds 1929 interest and Re-
of Newport Beach is five (6); that
purposes- and objects mentioned in
demption Fund," and shall be used
the foregoing Ordinance was pass -
I
Ordinance. to -wit, the im-
for no other purpo -ee than the pay-
ed by a vote of more than two -
pthis
rovement of the municipal harbor
ment of said bonds and accruing
thirds (2/3) of all the members of ��.
by deepening and dredging the
interest.
said City Council and Board of
channel ai the entrance thereof,
Section 6. That the City Clerk
Trustees and approved by the
and by the acquisition and con-
1 shall certify to the passage and
Mayor of and President of the City
struction of various groins for the
adoption of this Ordinance and to
Council and Board of Trustees at
I purpose of controlling the tide and
its approval by the Mayor of and
a regular (adjourned) meeting of
protecting the existing jetties and
President of the City Council and
said Board duly held on the 4th
I{ shorelands .ana including for said
I Board of Trustees of the City of
day of November, 1929, and that
purpose the acquisition of lands
Newport Beach, and shall cause
said Ordinance was passed by the
and rights -of -way.
1 this Ordinance to be published
following vote, to -wit:
Section 6. That for the purpose
once in the Newport News, a
, AYES: Councilmen, Hilmer,
of paying the principal and inter-
weekly newspaper published and
'Claire, Claire, Ellsworth, Williamson and
est of said bonds the City Council
circulated in said City of Newport
Johnson.
and Board of Trustees of the City
Beach and hereby designated for
NOES: Councilmen, None.
of Newport Beach shall, at the
that purpose, and said Ordinance
ABSENT: Councilmen, None.
time of fixing the general tax levy
shall be In full force and effect
(Seal) ALFRED SMITH,
I and in the manner for such general
thirty (30) days after its passage
City Clerk of the City of
tax levy provided, levy and collect
and adoption.
Newport Beach, California,
auuually until said bonds are paid,!
I, Alfred Smith, Clerk of the Cit- -,f
;ertify that the foregoing Ordinance No. 369 is
if an Ordinance passed by the City Council at a
in the 4th dajl of November, 1929, and that same
)ublished according to law,
Newport Beach do hereby
a, true and correct copy
regular meeting held
was printed and
n O D
City Clerk of Plewport Beach,