Imperial Valley press., 1908-10-31


 and interest payable in lawful money of the United States of America. This bond Is issued in pursuance of the provisions of the Act of the Legislature of the State of California, entitled "An Act authoriz- ing the incurring of indebtedness by cities, towns and municipal corporations for municipal improvements and regulat- ing the acquisition, construction or com pletion thereof" which became 8 law February 25, 1901, and in accordance with the ordinances of said city of El Centro. It is further certified that all the re- quirements of law and of the ordinances of the City of Fl Centro have been fully compiled with by the proper officers in the issuing of this bond; that this Issue of bonds has been authorized by the vote of two- thirds of all the voters voting on the question of such issue at a special election duly and regularly called and held in said city on the 18th day of Oc- tober, 190S and that the total of this issue together with all other indebted ness of said city does not, in the aggre- gate. exceed fifteen per cent 15 per cent) of the assessed value of all the real and personal property of the City of El Cen tro, and does not exceed the limit pre- scribed by the constitution and laws of the State of California.
 Tn Witness Whereof, The City of El Centro has caused this bond to be signed by the Executive of said municipality, to- wit: the President of the Board of Trus tees of the said city and also by the Treasurer of said city and to be counter signed by the Clerk of said city and the corporate seal of said city to be affixed thereto; and the city has also caused the coupons thereto attached to be numbered consecutively and signed by the Treasur- CT of the said City of Fl Centro
 ......................
 President of the Board of
 Trustees of the City of
 El Centro.
 ................,..
 Treasurer of the City of El
 Centro.
 Countersigned: ...................
 City Clerk of the City of Fl Centro. That coupons shall be attached to each Of said forty (4O) bonds for the interest accruing thereon, and said coupons shall be substantially in the following form, to-wit:
 $25.00
 On the first day of ........... (month of maturity A. D. .............. (year of maturity), the City of Fl Centro promises to pay to the bearer at the office of the City Treasurer of the City of Fl centro the sum of Twenty five Dollars ($25.0o) in lawful money of the United States, the semi annual interest due on Septic Sewer Bond No. ............ (number of bond to which coupon Is attached).
 ................. .....................
 Treasurer of the City of Fl centro. Section ?. That the President of the Board of Trustees of said city being the executive of said municipality and the Treasurer Of said city are hereby auth orzed and directed to sign all of said bonds. and the City Clerk of said city is hereby authorized and directed to countersign the said bonds and to affix the corporate seal of said city thereto, and the treasurer of said city is hereby authorized and directed to sign all the interest coupons of said bonds, and said bonds shall be delivered by said City Clerk to said City Treasurer in such amounts as the Board of Trustees of said city may from time to time determine. Section 8. That the proceeds of the sale of said septic sewer bonds shall be placed in the Treasury of said city to the credit of a fund to be known. as the Septic Sewer Bond Fund" and shall be applied exclusively to the purpose and objects mentioned in this ordinance, to- witt the purpose of constructing a septic sewer system for the collection and dis posal of the sewage of said city.
 Section 4. That for the purpose of securing ana providing for the payment of the principal and interest of said bonds the said Board of Trustees of said city shall at the time of fixing the general tax levy and in the manner for such gen. eral tax levy provided, levy and collect annually each year until such bonds are paid or until there shall be a sum in the Treasury of said city set apart for that purpose sufficient to meet all sums com ing due for principal and interest on such bonds, a tax sufficient to pay the annual interest on such bonds, and also such part of the principal thereof as shall be- come due before the time for fixing the next general tax levy
 Said tax levy shall be in addition to all other taxes levied for municipal purposes and shall be collected at the same time and in the same manner as other muni cipal taxes are collected and be used for no other purposes than the payment of said bonds and accruing interest
 Section 5. The City Clerk shall certify to the passage of this ordinance and shall cause the same to be published once in tba Iponariol Wa1laV PrasS a WaaIx1V