Los Angeles herald., 1910-08-31
COUNCIL APPROVES
TWO BOND ISSUES
Harbor and Electricity from the
Aqueduct to Be Cared for
Out Of Funds Secured
$6,500,00O is TOTAL OF BOTH
Lighting Systems to Be Provided
for Before Power and
Heating
S6,5Oo,o0O is TOTAL OF BOTH

Ordinances providing for the issu-
ance of $3,500,0O0 power bonds and $3,-
900 900 harbor bonds, in accordance
with the bond election held April 10,
We're passed by the city council yes
terday.
The power bond ordinance provides
for the issuance of bonds to be dated
June l, 1870 5000 in number, in the
denomination of 800 each, and to bear
interest at the rate of AZ per cent per
annum, payable semi-annually on the
first day of December and the first
day of June Of every year, and that
they shall be numbered from one to
$500, inclusive, the first 100 to mature
on the first day of June, 1915, the sec
ond 100 to mature on the first day of
June, 1917, and so on, 100 maturing
on the first day of June of each year
thereafter.
This ordinance prescribes the form
of the bonds and the coupons and
declares the policy of the city with ref
erence to the disposition of the electri-
cal energy produced in connection
with the operation of the Los Angeles
aqueduct system, namely, that the
water power created by the construc-
tion of the aqueduct shall be devoted
and applied, so far as may be, with
out prejudice to the aqueduct system,
to the generation of electricity by
means of the public improvement pro-
vided for by the issuance of bonds;
that the electricity to be generated by
means of the works shall be applied
to the public uses of the city, including
the lighting of it's streets, parks and
other public places, for heating, light
ing and power purposes in the city
hall. jails, police station, hospitals, fire
engine houses and other public build
ings for operating its police and fire
alarm systems; for power purposes in
connection with its aqueduct system
and any other public works or i'm
provements of the city, and for all
other municipal purposes and improve
ments of the city requiring electrical
energy.
THE SURPLUS
The city may at such time and in
such manner as the city council shall
deem expedient, provide for the dis
position of any surplus electricity or
electrical energy or power not re-
quired by the city of Los Angeles for
the purposes stated in the ordinance,
and for other public purposes, to the in
vice or utility for the purposes of
light, heat and power, subject to such
reasonable rules and regulations as
may be adopted by the city council
or other proper corporate authority
relating to the rendering Of said SER
vice.
1t is expressly declared in this or
dinance that electricity shall only be
furnished to the inhabitants of the
city for heating and power purposes
at the times when and under condi-
tions which make it possible for the
city to supply electricity from the
works for such purposes without in
terfering with the sufficient supply of
electricity to the inhabitants of the
city for lighting purposes, and that
in case there be any surplus of cleo
tricity after providing for the require
ments of the city and the inhabitants
thereof such surplus may be sold and
disposed of by the city of Los Angeles
in the manner and under the condi-
tions specified in the charter of the
city or as authorized by law. In gem
eral, this ordinance provides for all
the necessary steps as required by
law for the issuance of the electric
plant bonds.
The harbor bond ordinance is the
same as the power ordinance in the
manner of issuing bonds and the in
terest they draw.