Imperial Valley press., 1925-03-23
Legal advertisement

Trustees or said City shall. at the
tlme OF fixing the general tax levy,
and in the manner for such general
tax levy provided, levy and collect
annually each year, until said bonds
ara paid, or until there shall be
sun in the Treasury Of said Citv set
apaff for that purpose to meet all
sums( coming due for principal and
interest on such bonds, a tax suf.
flelent to pay the annual interest
on such bonds, and also such part
OF the principal thereof as shall
become due before the time for fix.
ing the next general tax levy. Said
TAX shall be in addition to all 9th
er taxes levied for municipal pnr.
poses and shall be collected at tbe
same time and in the same manner
as other municipal taxes are collect.
ed, and be- used for no other Dur
pose than the payment of said
oonds and accruing interest.
SECTION XIII. That if the pro-
position of incurring the bonded i'm
debtedness provided for in the third
proposition hereinabove mentioned.
50 submitted at such election. re.
celves the requisite number of votes.
to-wlt, two-thirds of the votes of
the qualified voters voting at sucb
election, bonds of said CITY in the
amount of Four Thousand five bun.
dred Dollars ($4,50OOO) shall he ia.
sued and sold for the purpose of ac-
curing, constructing and completing
sad municipal improvement men,
TONED in said third proposition. Said
bonds shall bear interest at a rate
not exceeding six per centum (6%,1
per annum, payable semi-annually
and the principal and interest there
OF shall be payable in lawful money
OF the United States Of Americ3.
one-tenth part of the principal of
SAD bonds shall be paid each wear
at the office of the City Treasurer
OF the City of Ell Centre, in said
olty, in the County of Imperial.
STATE of California, on a date to he
hereafter fixed in said bonds. until
the whole principal has been paid:
That the interest on said bonds shall
De paid semi-annually at the same
place, one of such semi-annual paw
ments IN each year being made at
the date of the payment of the an
nuai !nstallment of the principal of
such indebtedness as aforesaid. said
indebtedness shall be evidenced bv
ponds and proper coupons alta ached
thereto, separate coupons being at
tached to each bond for each semi
annual payment of interest to be-
come due on said bonds and such
ponds shall be issued in such demo-
minatlons or denomination as the
Board of Trustees of said City shall
determine in accordance with law.
sad bonds shall be signed bv tbe
president of the Board of Trustees
or SAID City, and also by the Treas
rrer of said City, and shall be
countersigned by the City Clerk Of
said City. The coupons of said
bonds shall be numbered consecu-
lively and signed by the Treasurer.
SECTION XIV. That for the
purpose 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 III the manner for such general
tax levy provided, levy and collect
| annually each year, until said bonds
are paid. or until there shall he y
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, a tax suf-
tlclent 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 fixing
the next general tax levy. Said tax
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.
SECTION XIV. That if the pro-
position of mourning the bonded in
debtedness provided for in the
fourth proposition hereinabove men
toned 80 submitted at such cleo
ton, receives the requisite number
OF votes, to-wit, two-thirds of the
votes of the qualified voters vot-
ing at such election, bonds of said
City in the amount of Three thou
said five hundred Dollars ($3.5oO0 00)
shall be issued and sold for the pur.
pose of acquiring, constructing and
completing said municipal improve
ment mentioned in said fourth pro-
position. Said bonds shall bear in
terest at rate not exceeding six
per centum (6To) per annum, pay
able semi-annually and the prin-
cipal and interest thereof shall be
payable in lawful money of the
United States Of America. One
tenth part Of the principal of said
bonds shall be paid each year at
the office Of the City Treasurer of
the City of Ell Centre, in said City,
in the County of Imperial, State of
California, on date to be hereaf-
ter fixed in said bonds, until the
whole principal has been paid; 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
tho date of the payment of the an
nual installment of the principal of
such Indebtedness as aforesaid; said
Indebtedness shall be evidenced by
bonds and proper coupons attached
thereto, separate coupons being at
tached to each bond for each semi
annual paYment of interest TO be.