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HomeMy WebLinkAbout235 - Sale of Municipal Improvement District 3 Bonds• 1 2 3 4 5 6 7 8 9 10 11 z 0 12 z J Q w 2 13 3 0 m N J 14 fWU z4 15 a�a _ 16 z N a w 17 w 0 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 RESOLUTION NO. 335 A Resolution of the Boc.rd. of Truf7,thes of the City of Newport Bach, as the l2ginlativ a body thereof, directing the ie ^uanoe and hale of the bonds of Municipal Improveu,�nt District No. 3 of the city of Necrport Beach, fixin the date thereof, the time and pl.­e of payinent, principal and int^_rer!t, pre ^oribin; the form of the bonds and intere ^t coupons}. Vhereas, pursuant to Ordinance No. 239, there :ar held in Uunicinal Improvement District No. 3 of the City of Ne::?)ort Beach, on the 10th &ay of May, 1923, an election, at which there r >ubmitted tc the electors of acid di ^triot four (4) propo;-i- tionc of incurring a debt by the isnuan -ce of the bond- of r7sid district for the purporien set forth in Ordinance No. 229; 1.7herean, at a regular meeting of the Board of Trustees of the City of Newport Beach, hibld on the 14th a ay of Way, 19230 by a canv,, i of the returne of the n id. election held on the 10th day of ,iay, 1923, it a ,ppeared and the said. Boast: of Tru�7tees found and e, tablir.hed of record on t he minutes of r -aid u eeti.r, that, at aai,. election, the votes of tiro - thirds s,nd ,rare of cll the voter:: voting at said election ner- vote- TTS and in fa.vcr of incurring a debt, under proposition No. 3, in the num of x"145,000 and isnuinj the bend- of aid district for the oo notruction of a rep ^age collection oyrtem, sewage dirponU orks and purrpin.- tion, and necessary apparatus for the proper see- era -;e of the diu- tract; alno voter. YES and in f aver of incurring a debt, under proppsitioax to. 4, in the sum of A13,000.0j and. innuin; the bonds of -,aid dtntrict for the corrtruction of a main crater pipaline; Nor therefore, the Boar,! of Tru ^tces of the City of Nem- port Beach do resolve andorder an follown: 'Seotion 1. A debt is hereby created by :Wnicipal Improvewnut Dil�- trict 11o. 3 of the City of Me-port Beach in the sum of �P'145,000.OQ:- -1 • 1 for the oonntruction of ^ oelagae collection sy ^tew, sewa,-,e dierosal • 2, works and pumpin etation, and neeennary appar;tu�i for the colleo- 3 tion, treatment, and - i; ;Donal of the sewage accuinulatinE; in -,aid cliE. 4 trict, in order to make the -amo sanitary; tha raid incobtedner:� 5 of $145,000.00 shall be represented by 145 bonds;, of !aai2.. v.ietriot, 6 numbered from 1 to 145. both inclusive, each in the dencaina.tion of 7 $1000.00; all of r..aid bond- shall be dated the 15th de.y of Uay, 192 ; 8 On the 15th diy of May, 1924, bondn Nor,. 1,2,3,4 and 3 shall becoale 9 duP and be p id, and% annually thereafter five(5) additional of 10 ,said, boncl7, in nuoceosive numerical ordez -, ;shall become due and be 11 paid. z 0 12 Section 2. z w Z 13 A debt is hereby created by L3unicipal Improvement District 3 0 14 No. 3 of the City of No.-port Beach in the sum of 1;13,000.00 for the Wa U ZZaZ 15 Conitruction of a main water pipeline in aqt for Gain d.iRtrict, in 44Z 0 4 16 order to provide Balboa I- lend, ^hich constitutes saict dintrict, a w 17 crith ineanr; of obtainin r%ter for domestic urse ant'. the extinguish- 18 went effire; the ^.aid indebtedness of $13,000 AO shall be repre- 19 Rented by thirteen (13) bonds, of ^aic dintrict, numbered fros,: 1 20 to 13, both inolusive, each in the donominaticn of $1000.00; all 21 of said bonds chall be dated the 15gh cay of Ua.y, 1923; on the 15th 22 day of May, 1924, Bond No. 1 shall become due en be paid, t nd 23 annually thereafter one adc'.itioral of gaid bonC.R, in uocea i ve 24 numbrioal'.order, shall become due ane.. be paid. 25 Section 3. 26 The indebtedness hereby created bhall bear interc,it at 27 the :7 ate of !?is ?�r cent ppr Dnnul, an6 the -..dd. inter r:t ahw11 be 28 paid semi- ,?.nrually, the fir -t inntallmsnt of •.7hi.ch intertr :t �%h-Ul 29 beco:tie due and be ;paid. on the 15th day of November, 1923, snd Lhere. 30 after on t he 15th day of LUy and the 15 th day of November in each 31 year the oemi- annue.l intorrnt ^hall be paid. 32 _2 1 • 1 2 3 4 5 6' 7 S 9 10 11 z 0 12 z w z 13 3 0 myj 14 fWrt yU 44z 15 aj4 _ 16 Z a m w 7 1 0 0 18 19 20 21 22 23 24 25 26 27 40 zs 29 30 31 32 .ate Section 4. Botts the „ri:lcilml and tflc .::i. -orr,r I inter: -:t ehall bin milk' i'l -01c' Colt, cf the Un':t-cd nt t'i5 oflioe rf the Trea -I x r of th city of T" —:port Deach , i'; ^yia city,co' ;rty of O'-ao' e, St,','- rf C_li7ernic. 2-- otior. 5. TtC bor.-l.-:, of ':O_niei�al Imnro-�m.,.en' District Nc. 3 of thn city of F mart B=h % ij r-- �T1tin7 th_ 1- tle'tt _d -nenn h3r =by cre"-"-ed, rimllae i^ uerl . ^rr":. soli by tho Board of Truc:tec^. of the 01-ty of -'t vj:'.1 �i?.G81; 'In r!uch arr.,untr, wnd iv, the m.-1n ^r tb t they rtty fron tiros to time dot ermine,provided, that; none of noUk 'oon -.- ;'1 ^'.l be ­,al _ for la-- i r. -their g= x value and the inter =•;t av ru -: 3J t?i ^r -r- r -It th':: dc. i e o:' 0.o? tr F ?ry. 1.3.1 qum7z cf nanny rrcr'ivef.. froa, th= ''.le of id ban @s 9hallb^ '.n the Tree ^ur of Lha nit *•of Beach to that croc'.it of ',univural I- ,irra•romort District to. 3 of th- cityof :'_=;:'port B ?G ^h, Z-IlU. in ''ie'! -aratn f11vi.'?, one to bn lvloS"n a the Se:':er Fund, 0.n` on to be kiv,,.n .a 'ihs ^y'.el.'.ne cr,.:h of d1.°C��i.oh fund- are herby oreatcO. for 'til(, r^ef tion of r =Ael ',.Ioi?ey, anc. the ^,u,ia Loney '111 be sFakvfli`nly tc the re^p?.t37 rlrra' :;e for rhich the r•c -3;) em7 vo'ed. and a.: slpa -ified in Ordinance No.229 of th° city of Ne -:y o'x7t Beach. Scotian 6. The form of thn bonds rhich F:hall be. i€ suedand soU! and reprc -nont Fmid indebtedness F;hallbe nlbataatially in the follorino forty: Bond No.____ '`1,000.00 =7ICIPAL IMPROM- I,F;"T DISTRICT I70. 3 OF THWITY OF1?r..PORT BEACH Bo rcl. Luric ipal. Improvement Din -tric t T'o. 3 of the cityof PIF,;port Beach doec hereby eoknorled. .-e its! ir_6ebtcdnemn to the bearer of thi', bond in the sum of one thourand dollars, and promir +eq to pay -3 • 1 i • 2 3 4 s 6 7 8 9 10 11 z 0 12 z_ J a 13 w rc 3 0 mNJ 14 fWa U 4 Q Z 15 a�4 = i 16 N 4 w N 17 0 18 19 20 21 22 23 24 25 26 27 4F 28 29 30 31 32 .Add1w. naid r1uru to thF - of thin bond wt the; o ffic , of tae Tracsurer of _ city of1'''^_,.'nGIY Bo ch ca the 13'h r ?. r of -sy,19 , c -re 02' 1ori .17 -1. cur:, nor.0 aT of t:..°�: bon C.. MT—' ao,`:' i. iq hea "or the- zntruoticn of for :IunicipalImp ;ovenent Dictrict No.0 of tho cit., c:? 7r%:..,-rt B-a..eh, snd by .authority of an Act of tuc Lc in- 1-,turo of t_-.e Sts' e of Califcr Aa, entitbd: "Ar, net to provir'.e fcr th' : GZ:_ tier +. of CA!- trictr - -1th�n :�un.ci.=^*'3ti.p- for h. 'Gqui- i; -of - ubl',.c ifi'nr8sr,'li:ent,1, t7orkR, wyiC. i.,.blic foi th^ i^ iu iic , � nlc ynd ;? %yment of bong.: =. Gf ^^ dic,trict to ':'::ct the coot of .witch improvements;and for the aequi ^itic-,,k o•c oa- .- trvctic- of .uo':. i- q-,ovementn. "anc all acts that arc aaendotory th�i r:of. `rlhe I­ue of this: beet". =zd t._c ::abt ^cno:° t`s_r;by °� , .,.� 1• ^tr _- :�-•i�r. ''iO v`1 T -!-:' �T`� lion" -. cr__.U-.c- i_�.� . e: t,.�._ ,. � _ ., c. by t}i; •c *r c' tern - tip;... ....t of ,13.1 tb ao - ?rtin^ a-;- an el °c-t -ion held. r.t and v,tithe 1 .':.ni- ci-Wl Inr,lro;nn -•nt n3.:-�rict Vo.3 of th- c:.ty of i'ict °:;fort £ c - -.h on the 10: }1 _,.ayof May, 7.8330 calleCl by Orfiin_.nco 7,C.S29 of the city of X * or' B3, ch,pa-r ^c. ont %e °th 4.ayof .Irrl'.,1923, an.1 -uly IrIbli'thed c.nd fiirth�'r by -.athor' -'may of R3 ^olut n 7o. 21::5 of l .id. ci ,y; direct in.- th- in -ue h.reof. Dv-ry sot =C, proceedir.r.-� ncc�:ar<YIry or ep.-iortial to the vi1l"Ity of tMi bond hay; been taken, performed, and fulfilled, by' t42 prorer perf7on ^, board, _nd offic :rn at the time spa in the .anncr required- by lar, and this bond anr;. the debt thereby evidenc- ed. i^ r;ith:'n every 6ebt a•rd limitation provided by law and 116ho cor_- r'ti tt:ti r n. ' A sinkin_s fund for the payment of th_oprgncipal of thic bond before it i2aturity ar_C.. of the .. >e,-i- s.nnual paym nts of inter-s thoucon hac been created enift eri -t^ inthc 2manici- al trcc.r:ury of the city of Xer.;-jort B -ach. The le;ic'lacive brF.neh of the city of Ue,-•po B. ch will a =ch yea- at the time of fixing the �enera.l tax levy -4 • 1 2 3 4 5 6, 7 8 9 10 11 z 0 12 z J a 13 w 2 3 0 mmj 14 fwd a4Z 15 a.j4 0 i 16 x _N G M m 17 W 0 0 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 in the r. »nne, for 'r.' r sne:a ?. tcx 1_ay providcl, lsv-y and col- s. .w .. c n.. lect a ta:; uroTt tip.: _,.a;:lc rro sr�; ix.'11t: ioi al )- 0 -acct Dig riot 2:n.3 of t2n _clty of '?;.,,port BIach Fufficic-at to pay tho c, +;_, ': bc"C. st: th:, ri­oiral th,rcof when it 'ueccitez 21,sy "her ecllected shall be *_.a?zi.d intcthe ai iitir. fvncl �^. rr"ov apl' b^ a ad for r_o o the.r purpo ~e than the payiuent .I f r;n.-+ ME-7.7-011, x r- •. fin b-, ni.. -lr *. by the Pr :11c?t of it�_I Board al-o _i;nc<. ')y f = Tr:c.luror of :vI city, ::.md countersi ±nzd by ^.t Olcr::', ;a,t;;3tsu by i'�q corpurz.te ie: 1 Lher :1nato duly authoriz- ad iiy re'O VYV; - -: 'a. 35, anri dI•it cn.i _'." 154"ri d .yof ML1.7, 1922. Att �.b : ,'Irz,'iJLJ.en1t ul th.'!. _73a",:('. cfmr'1` '-- `.9es City of Dc=;ch T.r r.r o;. of the city of "rpor Clef'': O the Gity OT I:;-; ?;'ip:C'G L'each. Th_re shall be attach -ed to eachof said boa?^ ii••tercr.t couponn, n, mbered c o-onecutively, and nigned by the Trr zs carer of the city of Yewport Beech, by hip. cn„raved or lithogrp hed ^iunature ar_d which interest ecupow shall be ^ub.�tantially in the fcllewing form: Interest coupon Yo._ The Tr ^arurer of the city of Ncrport Bzach ?gill, e hip o ffice in paid city,nay to bearer cf thin coupon out of the rinking fund of !Dnicipal Improvement Dintriet ho. 3 of the city of 7er:port B_cx; h on the 15th dayof , 19 fir, . -re- Ventacion and surrender of this coupon, the cum of thirty dollars, -5 • 1 bein, ,e- i— a;�,�u '_ intrr ,t u?on B.�nr1 ixe. of :.id 2 Di'rict. 3 D -`r:P. t', ;,, 15th d-.yof ' !:�.y, 10'3. 4 P Tre�,ur::r of ch= a.ty of M o.:' B^ ch. 7 9ectl.nr7. 8 Th- l-I roOy of tl_e city of 'e crt - c ch ht ll, 9 --t the time of fish_ the � erer—al tea- levy. and in the: :ar +-r : for u 10 0 ,... r ; M„ t a ru s r:er- --:rul �..�. l ,,; proc*i.c�ec�., levy ''. co 11 tax y..,.r 11 upor the taaeble :•roi erty In Yu:nicin l I �procr-n.En t District 17o.3 z 0 0 12 of the city of TTc. ort F3,ach luMcient to �:ay the into - t on Ouch z w z 13 bond^ for the.t ye= , an-0. retch port3.cn of th,. priu2ipalthereof as is 3 0 fa14 to be.-one alas ba;ov the time for m9kinE the nest tt_--x levy. W U Q a i 15 Such ta.; sh ^.11 be 9 n 3ac?.iiion to c.11 ocher t _ev 1 cvied or -"unio ipa7 aj4 0 Z 16 rurroze- and when colleetvi -:hall be paid irtothe t r. a u ry of the 4 w " 17 city of Fs port Duch s.TT3 be usa�I for tb.c ?ayn ;Cnt of ti2e ;.rircipel o 0 18 ,nc'. ir.tere-t or. ?.i;'. bone'n land for rc ot'n;r 19 Tha nri-icira.l and inter.:,t on cu h bond�e ch9-11 be paid. 20 by the Trea urar of the oity of Be ~rpor;, Bzawh in the marzeA provideti 21 by for thr- - Cayment of 7:rincip21 and inter - =t on bond- of raid 22 city n at th^ time and in th^ mennc;r in t'_Zi^ resolution yet f;.rth. 23 The above and foregoing Resolution ra- duly i:itro.luoed 24 b^core the Board of Tr-uyteor of the city of `z -tort Beach %t a 25 rr ii a.r neettn- thereof held onthe 14th dayof ":Te.y, 3933, dc�•i -a::ted 26 Resolution No. 235, the roll wag called and the resolution purred 27 by the folloeri-n� named ..,embers�Jof said Board o f Trur tees: 28 Aye-,, Trwtaas . O r , Al. '0 r�''e. 1,9 /X . 29 30 Moe <., Truntec`3 iYIR. 31 Absent, T run :; 32 "� Clerk f the of ty of Newport B =ash. STATE OF CALIFORNIA ) COUNTY OF ORANGE ) CITY OF NEWPORT BEACH) I, MARGERY SCHROUDER, City Clerk of the City of Newport Beach, California, do hereby certify that according to the records of the City of Newport Beach filed and maintained in my office, the foregoing Resolution No. 235 was duly and Board of Trustees regularly adopted, passed, and approved by the of the City of Newport Beach, California, at a regular meeting of Board of Trustees said held at the regular meeting place thereof, on the 14th vote, to wit: day of May , 1923 , by the following AYES, COUNCILMEN: Schnitker, Sloan, Wilson, Richter, Wilkinson NOES, COUNCILMEN: None ABSENT, COUNCILMEN: None Dated this 18th day of May 19 60 ?. City Cierklan Ex-Otticio Clerk o the City Council, City of Newport Beach, State of California. 00