Imperial Valley press., 1924-06-05

hereby authorized and directed to
countersign the same and to at
tach the seal of said city thereto,
and the Treasurer of said City is
hereby authorized and directed
upon the sale of said bonds to de.
liver said bonds and coupons to the
purchaser or purchasers thereof
upon payment to him of the amount
of the purchase price thereof and
accrued interest,", III
SECTION V. That for the pur
pose of paying the principal and
the interest on each an yreved&
the interest on each and every one
of said bonds by this ordinance di
rected to be issued the Board of
Trustees of the city of Ell Centre
shall at the time of fixing the gen
eral tax levy and in the manner for
such general tax levy provided,
levy and collect annually eaeh year
until said bonds are paid Or until
there shall be sum in the Treas
ury of said city set apart for that
purpose, to meet all sums coming
due for the principal and interest
On SUN BOIldhy bd-N W
pay the annual interest ON such
bonds, and also such part of the
principal thereof as shall become
due before the time for fixing the
revt 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 indebted
ness as it falls due, and also to
constitute sinking fund for the
payment of the principal thereof on
or before maturity. Said taxes shall
be in addition to all other taxes
levied for municipaf 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 ac-
cruing interest. Said Board of
Trustees hereby makes provision
for the levy and collection of all
sums that shall or may be neces-
sarv to pay in full the interest and
principal of said bonded indebted
ness as the same shall fall due, and
hereby contracts, represents, and
promises that such levy shall be
made as aforesaid, and so far as
it ha sthe power to make such levy
it hereby makes the same.
SECTION VI. That there shall
be, and is, hereby created fund
to be designated as Municipal
Water Bond Fund of 1922 to be
carried in such name upon the
books of said city; that the pro
ceeds of the levy above mentioned
shall be paid into said fund as soon
as the same are collected and shall
remain in said fund until required
for the respective demands of the
principal and interest to be paid
upon said bonds. That when the
respective payments of principal
and interest shall fall due the
Treasurer of said City is hereby au-
therized and directed and com
, manded to pay out of money in said
fund said respective. amounts of
principal and interest of said bonds
as the same shall fall due when de-
mand shall be made therefor as
provided by Law, and, upon the
surrender of said bonds and coupons
| to said Treasurer, to cancel said
| bonds and coupons Immediately at
ter such surrender and payment.
Tt is further ordained, promised,
and agreed that none of said money
paid into said fund shall be used
/ for any other purpose than the pay
! ment of the principal and interest
| ON said bonds as in. this ordinance
specified until the whole amount
! thereof shall have been paid.
SECTION VII. That this ordin-
ance shall be in force and effect
from and after thirty days after
| thirty days after its passage, adop-
tion, and approval and the publica-
ton thereof as required by law.
SECTION VIII. The City Clerk
shall certify TO the passage, adop-
ton, and approval of this ordin-
ance and cuase the same to be pub
! lished once in the Imperial Valley
Press, newspaper of general cir
culation printed and published in
said city.
Passed and adopted this 4th
day of June, 1924.
w. II. LAvAYEA,
President of the Board of Trustees
of the City of Ell Centre, Cali
fornia.
Attest:- t5tl I..t
j. S. LOOFBOUROW, City Clerk.
NCity Clerk of the City of FL Cen
tro, California.
(SEAL)
T hereby approve the foregoing
Ordinance No. 27S this 4th day of
June, 1924.
w. II. LAVAYEA,
President of the Board of Trustees
of the City OF El Centre, Cali
fornia.
State of California,
County of Imperial, )ss:
II, J. S. Loofbourow, City Clerk
of the City of FL Centro, Califor-
mia, do hereby certify that the
whole number of members of 'the
Board of Trustees of said City is
five; that the foregoing Ordin-
ance No. 27S, was passed and adopt
ed by vote of two-thirds of all
the members of said Board of ftTrus-