Imperial Valley press., 1920-04-07

thirds of the votes of the qualified
voters voting at such election, bonds of
said city in the amount of Twenty
eight Thousand Dollars ($28 ,000) shall
be issued and sold for the purpose of
acquiring, constructing and completing
u concrete lining of the settling basins
of the present water system Of said
city. Said bonds shall bear interest
at rate not exceeding six per centum
I C per cent? per annum, payable semi
annually and the principal and interest
thereof shall be payable in lawful
money of the United States of Ameri-
ca. One fortieth G-40) part Of the
principal of said bonds shall be paid
each and every year at the office of
City Treasurer of the City of Ell
!, Centro at said city in the County of
Imperial, State of California, on day
and date to be hereafter fixed in said
!. bonds until the whole principal has
been paid. The interest on said bonds
, shall be paid semi-annually at the
same place, one of such semi-annual
payments in each year being made at
the date of the payment of the annual
5 installment of the principal of such in
, debtedness as aforesaid; said indebted
, ness to be evidenced by bonds and
= proper coupons attached thereto, sep
arate coupons being attached to each
bond for each semi-annual payment of
{ interest to become due on said bonds,
and such bonds shall be issued in such
denominations or denomination as the
Board of Trustees of said city shall
] determine in accordance with law;
5 said bonds shall be signed by the presi-
i dent of the Board of Trustees of said
city and shall be countersigned by the
, City Clerk of said city. The coupons
E of said bonds shall be numbered con-
! secutively and signed by the Treasurer.
! SECTION XI. That for the purpose
of paying the principal and interest on
said bonds the Board of Trustees shall
e 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 said bonds
- are paid or until there shall be sum
! in the treasury of said city set apart
. for that purpose to meet all sums COM
ing due for principal and interest on
:, such bonds, tax sufficient to pay the
= annual interest on such bonds and also
such part of the principal thereof as
: shall become due before the fixing of
: the next general tax levy. Said taxes
. shall be in addition to all other taxes
levied for municipal purposes and shall
:, he collected at the sameS time. and In
u the same manner as other municipal
taxes are collected, and be used for
: no other purpose than the payment of
5 said bonds and accruing interest. ~
SECTION XII. That if the PROPOSE
l. tion of incurring the bonded indebted
: fness provided for in the last PROPOSE
: tion hereinabove mentioned so submit
|, ted at such election received the re-
I quisite number of votes, to-wit: two
II thirds Of the votes of the qualified
z voters voting at such election, bonds
I of said city in the amount of Fifteen
e Thousand Dollars ($15,000) shall be
Z issued and sold for the purpose of ac-
q quiring, constructing and completing
II Il a municipal fire alarm system for the
purspose of signaling to the fire de-
y partment of said city when its serv-
: ices may be needed for the eXtinguish-
u ment of fire. Said bonds shall ,bear
e interest at rate not exceeding six
e per centum C per cent? per annum
IL payable semi-annually and the prin-
e cipal and interest thereof shall be pay
. able in lawful money of the United
y States of America. One fortieth Q-40)
q part of the principal of said bonds
{ shall be paid each and every year at
E the office of the City Treasurer of the
City of Ell Centro at said city in the
e County of Imperial. State of Califor-
Il MIA, on day and date to-; be hereafter
fixed in said bonds until the whole
principal has been paid. i The interest
on said bonds shall be paid semi-an-
e nually at the same place, one of such
: semi annual payments in each year be-
: ing made at the date of the payment
of the annual installment of the prin-
= cipal of such indebtedness as afore-
Il said; said indebtedness to be evidenced
:, by bonds and proper coupons attached
u thereto. separate coupons being at
, tached to each bond for each semi-an-
y nual payment of interest to become due
on said bonds, and such bonds shall be
issued in such denominations or de-
nomination as the Board of Trustees
of said city shall determine in accord
y ance with law; said bonds shall be
signed by the president of the Board
of Trustees of said city and shall be
+. countersigned by the City Clerk of said
city. The coupons of said bonds shall
e be numbered consecutively and signed
n by the Treasurer.
u SECTION XIII. That for the pur-
J pose of paying the principal and in
terest on said bonds the Board of
Trustees shall at the time of fixing the
general tax levy and in the manner
for such general tax levy provided,
> levy and collect annually each year un-
til said bonds are paid or until there
J shall be a sum in the treasury of said
city set apart for that purpose to meet
all sums coming due for principal and
, interest on such bonds, tax suffi-
|. cient to pay the annual interest on
such bonds and also such part of the
principal thereof as shall become due
,, before the fixing of the next general
tax levy. Said taxes shall be in ad-
dition to all other taxes levied for
municipal purposes and shall be col
lected at the same time and in the
same manner as other municipal taxes
are collected, and be used for no other
purpose than the DaVment of said