Daily Los Angeles herald., 1883-05-03
A Resolution


ance and sale Of city bonds to be
known as the "City Hall Bonds of the
City Of Los Angeles, and the disposi-
tion OF the proceeds, and establishing
an interest and sinking fund for the
payment Of the principal and 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 building and premises for city |
purposes pursuant to the provisions and
authorization Of the revised charter Of
the city Of Los Angeles and in accord |
ance with certain ordinance of the
Mayor and Council of the city of Los
Angeles, entitled: "An ordinance to
'proyide for the purchase Of the neces-
"sary lands snd the construction Of
"buildings thereon and the furnishing
"of the same for City Hall In and for
"city Of Los Angeles and thereunto es-
"tablishing ths necessary regulations
sand rules of procedure" approved
April 10, 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
"submittsd to vote of the people the
"question Of issuing bonds to raise money
ito 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 tho voTs 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-
tons, )And for the purposes in the said
ordinance and resolution specified, pur-
sylnt to the said election, is guaranteed
70 the said corporation by its charter and
the constitution and laws of the State Of
California; Now, Therefore,
Be II resolved by the Mayor and
Council Of tho City Of Los Angeles:
SEC. /. The Clerk of the Council of
the City OF Los Angeles shall cause to
DO printed and prepared in accordance
with the form hereinafter given the
bonds Of tho City of Los Angeles in
blank, to be known as the "City Hall
Bonds Of tho 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. 9. The said bonds shall collect.
ivoly 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 nfter the date Of its issuance,
at the option of the said city. and shall
bear interest at the rate of six (6) per
centum per annum, payable semi-annu-
ally on the first days Of January and
July. respectively.
SEC. 3. The bonds hereinbefore pro-
vided for shall be in the following form !;
State of California of the
City of Los Angeles------lCity Hall
Bond Mo. $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. ID.
1908, 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 (6l per
centum per annum, from the date
hereof, payable at the office of the
said Treasurer semiannually, on the first
day of January and the first day ofJuly
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 act
to amend an act entitled an act
to revise an act entitled an act
to amend the charter of the City OF
Los Angeles. to define its limits and
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 and
Council of the City of Los Angeles, ap-
proved April 10th, 1888, and the resolu-
tion of the Mayor and Council of the
City OF Los Angeles, adopted the 18th
day Of April, 1883, and the resolution of
the Mayor and Council of the City of
Los Angeles, adopted A. D, 1888"
In witness whereof the City of Los
Angeles by its Council has caused this
bond to be signed by the Mayor OF the
City of LossAngeles, and attested by
the Clerk of the Council OF said city,
with the seal OF the city attached this
day of -, A. d. 1888.
lsEAL.l -
Mayor of the City of Los Angeles.
Clerk of the Council of the City OF