Los Angeles daily herald., 1889-09-12

WHEREAS, Proper steps have heretofore been
taken by the Council of the City of Los An.
geles, complying with all requirements of
the Act OF the Legislature OF March 10th,
1889, authorizing the mourning of indebt-
edness by cities for public improvements;
and the question OF incurring an indebted
ness Of $500, 900, and the issuing of bonds
therefor having been submitted to the quail.
fed voters of said city at a special election,
and more than two-hirds of the votes cast
at such special election having been in
favor of incurring said indebtedness and
issuing said bonds, now, therefore,
The Mayor and Council of the City Of Los Angeles
do orddtn as fottoaos:
sRCTIoN /. That bonds of the City of Los
Angeles in the amount of $500 900 be issued in
accordance with the provisions of the Act OF
and the charter and ordinances of said city.
SEC. 2. That said bonds shall be two hundred
in number, each for the sum of 81 600. dated
october 1st 1889. and shall bear interest tpay-
able semi-annually)at five per cent. per annum:
both bonds and interest shall be payable
at the Chemical National Bank of New York
City, New York; one-twentieth of said bonds
being payable each year, there being ten bonds
payable each year from october lst, 1852; I'M
substan TALLY in words and figures as follows,
to-wit:
UNITED STATES OF AMERICA, STATE oE CALI
FoRNIA, CITY OF Los ANGELES.
Public School improvement Bond of the City
of Los Angeles issued for school purposes.
81, 900. Los ANGELES October LIST, 1889.
On the . day Of. So. "A D.. The City
Of Los Angeles will pay to the bearer at the
Chemical National Bank OF New YORK City,
New York. the sum of
80. ONE THOUSAND DOLLARS ............
With interest thereon from date at the rate OF
five percent per annum, interest payable SEMI
annually at said Chemical National Bank upon
the presentation and surrender OF the interest
coupon hereto attached.
This bond is issued in pursuance of the Act of
the Legislature, Of the State OF California,
mourning of Indebtedness by cities for the
construction of public improvements. and also
pursuant to the charter and ordinance OF said
city.
In Witness Whereof the said city by its Coun-
Gil has caused this bond to be signed by its
Mayor and Treasurer and countersgned by its
City Clerk, and has caused Its City CLERK TO
hereto affix the corporate seal OF said city.
Mayor Of the City of Los Angeles.
Treasurer of the City OF Los Angeles.
Countersigned by
City CLERK.
The interest coupons shall be substantially
as follows:
1926. Mo-.
On the first day Of ~ the City of Los An
geles promises to pay to the bearer at the
Chemical National Bank of New York City,
New York, the sum of Twenty-Five Dollars for
semi-annual interest due on Public Improve
ment Bond No, issued for school purposes
by said City of Los Angeles.
Treasurer of the City of Los Angeles.
SEC 3. The Mayor and Treasurer are hereby
authorized and directed to sign said bonds and
the City Clerk to countersign the same, and the
City Clerk is authorized and directed to af1x the
corporate seal of said city thereto, and the
Treasurer is hereby authorized and directed to
sign the interest coupons of said bonds, Said
bonds shall be delivered by the City Clerk to
the City Treasurer in such amounts as the
Council may from time to time determine and
from the time of such delivery the Treasurer
shall be responsible for the same.
SEC. a. The proceeds of the sale OF said
bonds shall be placed in fund to be known as
Public School improvement Fund"
SEC. s. The City Clerk shall certify to the
pafsag of this ordinance, and shall cause
the same to be published once in the
Los Angeles DAILY HERALD, and thereupon
and thereafter it shall take effect and be il
force.
I hereby certify that the foregoing ordinance
was adopted by the Council of the City Of Los
Angeles, at its meeting of September 10th, AID.
1889.
FREEMAN G. TEED,
City Clerk.
Approved this 18th day of September, 1889.
HENRY T.. HAZARD,
ae1O-1t MayOr