Imperial Valley press., 1924-04-12

twentieth part of the principal of
said bonds shall be paid each and
every year at the office of the City
Treasurer of the City of Ell Centro
at said City in the County of I'm
perial, State of California, on day
and date TO be hereafter fixed in
said bonds until the whole princi.
pal has been paid. The earliest
maturity of the indebtedness Great.
ed by the issue of the bonds may be
made to begin more than one and
not more than ten years after the
date of the issuance of said bonds;
that the interest on said bonds shall
be paid semi-annually at the same
place, one of such semi-annual pay.
ments in each year being made at
the date of the payment of the am
nual installment- the principal of
such Indebtedness as aforesaid; !;
said indebtedness shall be evidenc-
ed by bonds and proper coupons at
tached thereto, separate coupons be-
iIlICHtl W pOit IOi CsiCU
semiannual payment of interest to
become due on said bonds and such
bonds shall be issued in such demo-
limitations or denomination as the
Board of Trustees of said City shall
determine, in accordance with the
law; said bonds shall be signed by
the President of the Board of Trus-
tees of said City and also by the
Treasurer of said City and shall be
countersigned by the City Clerk of
said City. The coupons of said
bonds shall be numbered copsccu
lively and signed by the Treasurer.
SECTION VI. That for the pur-
pose of paying the principal and
interest of said bonds the Board of
Trustees of said City shall at the
time of fixing the general tax levy
and in the manner for such general
tax levy provided levy and collect
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 coming due for principal and
on such bonds, o tax suffi-
cient to pay the annual interest on
such bonds, and also such part of
the principal thereof as shall be-
come due before the time for fix
ing the next general tax levy; pro-
vided, however, that if the ma
turity of the indebtedness created
by the issue of the bonds be made
to begin more than one year aft
the date of the issuance of such
bonds such tax shall be levied and
collected at the time and in the
aforesaid, annually each
year, sufficient to pay the interest
on such Indebtedness as it falls due
and also to constitute q sinking
fund for the payment of the prin-
cipal thereof on or before maturity.
Said tax shall be in addition 10 all
ether taxes levied for municipal
and shall be collected ut
the same time and in the same man.
ner as other municipal taxes are col
lected, and be used for no other
purpose than the payment of said
bonds and accruing interest.
SECTION VII. The proposed in
lebtedness of Two Hundred Thous-
and ($200,000.00) Dollars, includ-
ing all other indebtedness already
incurred by said City for municipal
Improvements, will not in the ag-
gregate exceed fifteen per cent
(15%) of the assessed value of all
real and personal property of the
said city of El Centre.
SECTION VIII. That for the
purpose of such election the election
precinct, polling place, and officers
of election Hereinafter provided
for) shall be the same as those set
forth in Resolution No. 275, EMIT
led:
"A resolution of the Board of
Trustees of the City of FL Centre
establishing the voting precinct and
polling place and appointing cleo
ton Officers for the municipal cleo
tion to be held in said City on the
14th day of April, 1924" adopted
heretofore, to-wit, on the 10Th day
of March, 1924, by said Board.
The polls of said election Gas pro-
vided by ordinance calling the gen
eral municipal election to be held
at the, same time) shall be opened
at 6 O'Clock q. m. of the day of
said election and shall be kept open
until 6 O'Clock p. m. of the same
day, when the polls shall be closed:
however, that if at the
hour of closing there are any other
voters at the polling place or in
line at the door who are qualified
to vote and have not been able to
do SO since appearing the polls
shall be kept open q sufficient time
to allow them to vote. But no one
who shall arrive at the polls after
6 O'Clock in the afternoon shall be
entitled to vote although the polls
may be open when he arrives.
SECTION TX. The ballots to be
used at said election shall be print
ed in the manner and form pres
cribed by law and upon said ballots
the said proposition of incurring
said bonded debt shall be printed
in the following form:
Shn1