Imperial Valley press., 1920-04-03

thirds OF the VOCeS OF the quallfled
voters voting at such election, bonds of
said city in the amount of Twenty
eight Thousand Dollars ($2S,000) shall
be issued and sold for the purpose of
acquiring, constructing and completing
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
| 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 Ameri7i
Ca. One fortieth (1-40) 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
Centre 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
linstallment 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
4 Board of Trustees of said city shall
determine in accordance with law;
I.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
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
at the time Of fixing the general tax
lew 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
1
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
be collected at the same time 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 accruing interest.
i T1ot %l,o
ton of incurring the bonded indebted
ness provided for in the last PROPOSE
ton hereinabove mentioned so submit
:. ted at such election received the re-
! quisite number of votes, to-wit: two
= thirds of the votes of the qualified
voters voting at such election, bonds
of said city in the amount OF F1fteer
: Thousand Dollars ($15,000) shall be
: issued and sold for the purpose of ac.
! quiring, constructing and completing
y a municipal fire alarm system for the
u purspose of signaling to the fire de
, partment of said city. when its serv
! ices may be needed for the extinguish
= ment of fire. Said bonds shall beal
: interest at a rate not exceeding si1
= per centum C per cent? per annum
!. payable semi-annually and the prin
: cipal and interest thereof>shall be pay
. able in lawful money of the United
J States of America. One fortieth GAO,
= part of the principal of said bonds
: shall be paid each and every year al
: the office of the City Treasurer of the
City of Ell Centre at said city in the
) County of Imperial, State of Califor
Il Il MIA, on day and date to be hereafter
e fixed in said bonds until the whole
l principal has been paid. The interes
5 on said bonds shall be paid semi-an
nually at the same place, one of sucl
: 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
u said; said Indebtedness to be evidenced
:, by bonds and proper coupons attached
= thereto. separate coupons being at
:, tached to each bond for each semi-an
! ! nual payment of interest to become due
on said bonds, and such bonds shall bt
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 bt
signed by the president of the Boarc
Of Trustees of said city and shall be
countersigned by the City Clerk of sale
city. The coupons of said bonds shal
be numbered consecutively and signed
by the Treasurer.
SECTION XIII. That for the pur-
Y 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
/, 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 payment of said
bonds and accruing interest.