Daily Los Angeles herald., 1883-05-01
A Resolution

ance ana sale OF CITY Donus 10 DC
known as the "City Hall Bonds of the
City of Los Angeles, and the disposi
ton of the proceeds, and establishing
an interest and sinking fund for the
payment OF the principal aud interest
thereof and thereunto fixing the pro
cedure.
WHEREAS, At special election of the
qualified electors of the city Of Los An
geles, held on the third day Of May. A.
D. 1888, there was submitted the ques.
tion of the issuance Of city bonds of the
said city to an amount not TO exceed
100, 900 dollars, payable on or before the
expiration Of the period of twenty years
from and after the date of their issuance,
for the purpose Of raising money to pro-
cure a building and premises for city
purposes pursuant to the provisions and
authorization of the revised charter Of
tho city of Los Angeles and in accord
anoe with certain ordinance of the
Mayor and Council of the city Of Los
Angeles, entitled; can ordinance to
tprovide for the purchase of the neoes-
"sary lands ind the construction Of
"buildings thereon and the furnishing
"of the same for City Hall in and for
"city of Los Angeles and therennto es-
"tablishing the necessary regulations
"and rules Of procedure" approved
April lG, 1883, and with the resolution of
the Council of the city of Los Angeles,
entitled, "a resolution for the holding
"of special election at which shall be
"submitted to vote of the people the
"question OF issuing bonds to raise money
"to be used for the purpose of purchas-
"ing lot and erecting thereon public
"buildings for city purposes" " adopted
the 18th day of April, 1888; and
WHEREAS, At said election more than
two-thirds of the votes cast were in favor
of the issuance OF the bonds of the said
city for the objects and purposes speci-
fed in the said ordinance and the said
resolution; and,
WHEREAS, The power OF the corpora
tion of the city of Los Angeles to issue
its bonds in the sum, under the condi-
tions, and for the purposes in the said
ordinance and resolution specified, pur-
suant to the said election, is guaranteed
to the said corporation by its charter aud
the constitution and laws Of the State of
California; Now, Therefore,
Be it resolved by the Mayor and
Council of the City Of Los Angeles:
SEC. /. The Clerk Of the Council of
the City of Los Angeles shall cause to
be printed and prepared in accordance
with the form hereinafter given the
bonds of the City Of Los Angeles in
blank, to be known as the Getty Hail
Bonds of the City of Los Angeles, !"
which bonds SO printed and prepared in
blank he shall present to the Council at
lawful meeting thereof within two
months after the adoption of this reso-
luton.
SEC. 2. The said bonds shall collect
lively represent the sum of one hundred
thousand dollars. Each bond shall be
of the denomination of one thousand
dollars, and shall be redeemable not
sooner than FIVE years after the date Of
its issuance; and after the expiration of
said five years shall be redeemable on or
before the expiration of twenty years
from and after the dato of its issuance,
at the option of the said city. and shall
bear interest at the rate of six (6j per
centum per annum, payable semi annu-
ally on the first days of January and
July, respectively.
SEC. 8. The bonds hereinbefore pro-
vided for shall be in the following form !:
State of California Bond of the
City of Los Angeles---[City Hall
Bondl No. $1,000. The
City Of Los Angeles, in the County of
Los Angeles, in the State of California,
for value received, promises to pay to
the bearer thereof at the Office of the
City Treasurer of the said city. on the
first day of July, A. d. 1908, or at any
time after the expiration of five years
from and after the date hereof and be-
fore the said first day of July, A. D.
1903, at the option Of the said city, the
sum of one thousand dollars in gold
coin of the Government OF the United
States, with interest thereon in like
gold coin at the rate of six t6l per
centum per annum, from the date
hereof. payable at the Office OF the
said Treasurer semi annually. on the first
day OF January and the first day of July
in each year, on the presentation and
surrender of the interest coupon here
unto attached. This Bond is issued
by the City of Los Angeles
under the provisions OF the revised
charter of the said city, entitled ''an ac
to amend an act entitled an act
to revise an act entitled an act
to amend the charter of the City oi
Los Angeles, to define its limits ant
rights, to enlarge its powers and pro
vide for its more efficient government,
approved April lst, 1876, approved
March 30th, 1878. and in conformity
with the ordinance of the Mayor ant
Council of the City of Los Angeles, ap
proved April l8th, 1888, and the resolu
tion of the Mayor and Council of th'
City of Les Angeles. adopted the It'll
day Of April, 1888, and the resolution o
the Mayor and Council of the City o
Los Angeles, adopted A. d. 1883"
In witness whereof the City OF Lo
Angeles by its Council has caused thi
bond to be signed by the Mayor OF TIL
, City of Los Angeles, and attested b,
| the Clerk of the Council of said city
with the seal of the city attached thi
- day Of --, A. D. 1888.
GsEAL.l -
Mayor of the City of Los Angeles
J Attest: ---
Clerk Of the Council OF the City o