Imperial Valley press., 1914-02-13


levy and collect annually every year
until each of said bonds is paid, or
until there shall be a sum in the treas
ury of said City. set apart for such
purposes, sufficient to meet all sums
coming due for principal and interest
on said bonds, respectively, taxes suf-
ficient to pay the annual interest on
such bonds, and also such part of the
respective principals thereof as shall
become due before the time for fix
ing the next general tax levy. Such
taxes shall be levied and collected at
the time and in the manner aforesaid
annually each year, sufficient to pay
the interest on such Indebtedness as
it falls due, and also to constitute
sinking fund for the payment of the
principal thereof on or before matur-
ity. Said taxes shall be in addition to
all other taxes leved for municipal
purposes, and shall be collected at the
same tine and in the same manner as
other municipal taxes are collected,
and be used for no other purpose than
the payment of said bonds and ac-
crued interest. Said Board of Trus-
tees herby makes provision for the
levy and collection of all sums that
shall or may be necessary to pay in
full the interest and principal of said
bonded Indebtedness as the same shall
fall due, and hereby contracts, repre-
sents and promises that such levy shall
be made as aforesaid, and so far as
it has the power to make such levy
possible it hereby makes the same.
Section 6. There shall be and is
hereby created fund to be designated
as Municipal Improvement Bond Fund
of 1918, to be carried in such name
upon the books of said City; the
proceeds of the levy above mentioned
shall be paid into such fund as soon as
the same are collected and shall re-
main in said fund until REQUIRED for
the respective demands of the princi-
pal and interest to be made upon said
bonds. That when the RESPECTIVE pay
ments of principal and interest of said
bonds shall fall due the Treasurer of
said City is hereby authorized and di-
rected, and commanded. to pay out Of
said money in said fund, said respect
i've amounts of principal and interest
: of said bonds as the same shall fall
due, when demand shall be made there
for, as provided by law, and upon the
surrender of said bonds and coupons
to said treasurer, it shall become the
duty of said treasurer to cancel said
bonds and coupons Immediately after
such surrender and payment.
1t is further ordained, promised and
agreed that none of said money paid
into said fund shall be used for any
other purpose than the payment of
said principal and interest on said
bonds as in this ordinance specified,
until the whole amount shall have
been paid.
Section 7. That Ordinance No. 9S,
providing for the issue of the same
bonds at five and one-half ger cent
interest, be, and the same is, hereby
repealed.
Section 8. That this ordinance shall
be in force and effect from and after
thirty days after its passape and ap-
proval and the publication thereof, as
required by law.
Section 9. The City Clerk of said
City shall certify to the passage, adop-
tion and approval of this Ordinance,
and cause the same to be published in
the Imperial Valley Press, a newspa-
per of general circulation, printed and
published in said City.
Passed and adopted this 10th day of
Feb, 1914.
! JOHN NORTON,
/ President of the Board of Trustees
of the City of Ell Centro.
Attest:
LAVINIA NORTHCUTT,
City Clerk of said City of Ell Centre
By CHAS. MCCORMICK,
| (SEAL). Deputy.
hereby approve the foregoing Or
dnance No. 113, this 10th day of Feb
! 1914.
JOHN NORTON.
President of the Board of Trus-
tees of the ity of Ell Centro.
State of California, County of lmpe-
rial, City of FL Centro-ss..
|, Lavinia Northcott, CITY CLERK
of the Citv of the City of Ell Centre
do hereby certify that the whole num-
Der of members of the Board of Trus-
tees of the City of Ell Centro is five;
that the foregoing Ordinance No 113
of the City of Ell Centro was passed
and adopted by a vote of two-thirds
of all the members of said Board OF
| Trustees at regular meeting held on
the 10th day of February, 1914, by the
| following vote, to-wit:
Ayes: Travers, Egerer, Swanson
Burger. Norton.
Noes: None.
Absent: None.
And that said Ordinance was intro
duced at meeting held at least five
days prior to its passage. and was
duly approved by the President of the
Board of Trustees on the 10th day of
February, 1914.
LAVINIA NORTHCOTT,
City Clerk of the City of Ell Centre,
BY CHAS. MCCORMICK,
! (SEAL) Deputy.
State of California, County of I'M
perial, City of El Centro-ss.
|, Lavinia Northcott, City Clerk of
the City of FL Centre, do hereby GER
tify that the foregoing is a full, true
and correct copy of Ordinance No. 113
of the City of Ell Centro as the same
was passed, adopted and approved on
the 10th day of February, 1914.
/ LAVINIA NORTHCOTT,
City Clerk.
By CHAS. MCCORMICK.