Imperial Valley press., 1924-07-17

thev are. hereby authorized and a.
feefna tn stEn sahi bonds. aud the
| CITY Clerk ~ said CITY + hereby
antharired ana directed "a counter.
sien the ssu1e and 20 attach the
seal af said city thereto, and the
| Treasurer 81 said City "a hereby an.
tharigef and directed mpen the sale
~ said bands 90 deliver said hands
! and coupons 20 the purchaser nr
/ purchasers thereof upan payment 10
hiui 81 the amaumt "a the purchase
price thereof and accrued Interest.
SECTION v. That for the pur
pose af paying the principal aud
/ the Interest an eseh and every Que
~ said bands bv thi. ordinance Al
reetesf 10 be issued the Board nf
| Trustees 6f the city II "a Centre
SHALL az the time ~ fixine the gen.
eral tax levy aud IN the manner far
such general tax lew. pro4ta tand levy
and COLLECTED nnna8llv each wear aH.
| til said bonds are paid uf until there
shalt be sHm 10 the Treasury af
said city set apart faF that purpose.
- meet aIl sams coming dae feF
| the principal apd iaieFest au such
| bonds, 4 tax sufficient ~ pay The
annual interest on such bends. aud
also snth part ~ tbr principal
thereof aa shall become doe before
the timr fer fixina the neEt general
tax levy. sueh taxes shalt bee lev
TED and collected at the time and
in the manner aforesaid. annually
each xear, sufficient "a pay The in
tercst an such indebtedness as II
falls due, and aisa io constitute
sinking fund for - saymeut 81
the principal thereof an or before
| maturity. said taxes shalt be IN ad
dition 30 ull other taxes levied for
municipal purposes and shall he col
| lceted at the same time AMI iH the
SAME manner rs other municipal
taxes are collected, ard be used for
no other purpose than 8he payment
of said bonds and aefraing inter
est. Said BOARD Of Trustees here.
bv makes provision for the lew
and collection of al sums that shall
or may be- necessary 70 pay in full
the interest aud principal OF said
bonded indebtedness rs the same
shall fan due. aud hereby contracts,
represents. and promises that such
| levy shall bc made as aforesaid, and
so far as il has the power To make
such levy il hereby makes the
same.
| SECTION VI. That there shall
be. and is, hereby created II fund
to be designated as Municipal
| Water Bond Fund of 1924 to be
carried in such name upon the
books of said city: that the pro
eecds Of the levy above mentioned
shall be paid into said fund as soon
as the same are collected aud shall
rpms - i'm said fund until required
! for the respective demands of the
urincipal 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 All
thorized ard directed and command
cd to pay out of money in sad
| fund said respective amounts or
| principal and interest of said bonds
! as the same shall fall due when de
mand shall be made therefor as pro
vided by law, and, upon the surren-
der of said bonds and coupons to
said Treasurer, to cancel said bonds
and coupons Immediately after such
surrender and payment.
It is further ordained, promised,
and agreed that none of said money
paid into said funds 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 Ordinance
No. 27S providing for the issuance
of such bonds to bear interest AZ
the rate of six per centum (6%D
per annum be, and the same -
hereby repealed.
SECTION VIII. That this ordin
ance shall be in force and effect
from and after thirty days after
it's passage, adoption, and approval
and the publication thereof as re.
quired by law.
SECTION TX. The City Clerk
shall certify to the passage, adop-
lion, and approval of this ordinance
and cause the same to be published
once in the Imperial Valley Prcss,
q newspaper of general circulation
printed and published in said city.
Passed and adopted this 10th day
of July, 1924.
w II. LANAYEA,
President of the Board, of Trustees
of the City of FL Centre, Califor.
MIA.
ATTEST.
j. S. LOOFBOUROW,
City Clerk of the City of FL Cen.
tro, California.
(SEAL)
hereby approve the foregoing
Ordinance No. 2S3, this 10th day
of July, 1924.
W. II. LAVAYEA,
President of the Board of Trustees
of the City of FL Centre, Cali
fornia.
STATE OF CALIFORNIA
COUNTY OF IMPERIAL )ss:
CITY OF FL CENTRIC
r, J. s. Loofbourow, City Clerk
of the City of El Centre, Califor.