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