Imperial Valley press., 1925-03-14
Legal 4 advertisement
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SECTION MT That for ,bo ;,

'"o''oH VI Hiiu 'ltp snail, at the
Time of fixing the general tax lew.
and in the manner for such general
tax levy provided, levy and collect
annually each year, until said bonds
+ are paid, or until there shall bo \
sum IN the Treasury of said CITY Snt
apart for that purpose to meet all
sums coming due for principal and
interest on such bonds. q fax suf.
flclent to pay the annual interest
on such bonds, and also such part
of the principal thereof as shah
4 become du" 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 pr
poses and shall be collected at the
sam" time and in the same manner
as other municipal taxes arc collect
'd' ana be used for no other pur-
pose than the payment of said
bonds and accruing interest.
SECTION Nl1T. That if the pro.
position of incurring the bonded in.
d"btcdncss provided for in the third
proposition hereinabove mentioned,
so submitted at such election. re.
rcivcs the requisite number of votes.
to-wit, twOthirds of the votes of
tn" qualified voters voting Mt such
: election. bonds of said CITY in the
amount of -Four Thousand five hun.
dred Dollars ($4 4,j00.0O1 shall bc is.
sued and sold for the purpose of ae.
qulrlng. constructing and completing
Sald municipal improvement men.
toned in said third proposition. Said
bonds shall bear interest at n rate
not exceeding six per centum (6Go)
per annum, payable semi-annuallv
and the principal and interest there.
of shall be payable in lawful money
of the United States of America
One-tenth part of the principal oe
said bonds shall be paid each wear
at the office of the Citv Treasurer
of the City of FL Centre. in said
city, IN the County of Imperial
state of California, on a date to be
hereafter fixed in said bonds. until
the whole principal has been paid:
that the interest on said bonds shall
be paid semi,annuallv ut the same
place, one of such semi-annual paw
ments IN each year being made mt
the date of the payment of the IN.
nual installment of the principal of
such Indebtedness rs aforesaid; said
Indebtedness shall be evidenced bv
bonds and proper coupons attached
thereto. separate coupons being nj
tached to each bond for each semi
annual payment of interest TO be
come 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 law:
said bonds shall be signed by the
president of the Board of Trustees
of 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-
tivelv and signed by the Treasurer.
SECTION NV. That for the
nnrposc of paving the principal and
interest of said bonds the Board of
Trustees Of said City shall. AT the
time of fixing the general tax lew.
and III the manner for such general
tax levy provided, levy and collect
annually each wear, until said bonds
are paid. or until there shall be n
sum in the treasury of said CITY sot
apart for that purnosc. 10 meet all
sums coming dnc for principal and
interest on such bonds. n tax suf-
ficient TO pay the annual interest
on such bonds, and also such part of
the principal thereof rs shall be
come due before the time for fixing
the next general tax levy. Said tax
shall be in addition 10 MI other
taxes levied for municipal purposes
and shall be collected at the same
tima and in the same manner rs
other municipal taxes arc collected,
and ho used for no other purpose
than the payment of/said bonds and
ac"ruino interest.
SECTION XIV. That if the pro-
nosition Of incurrinp tho bonded in
dcbtedn"ss provided for in the
fourth proposition hcrcinabove men
TONED so submitted At such eloc-
of votes. to-wit, two-thirds Of tho
votes of the qualified voters vot-
ing at such election, bonds of said
Citv in the amount of Three thnu-
said five hundred Dollars (S3.500. 00)
shall be issued and sold for the pur-
pose of acquiring, constructing and
completing said municipal improve
position. Said bonds shall hear in
tcrest ut rate not exceeding six
per centum (GTtl per annum. paw
able scmi-annuallv and the nrin-
cipal and interest thereof shall ba
pnvablc in lawful monev of the
United States Of America. One
tenth part of the principal Of said
bonds shall be paid each year at
the office Of tho City Treasurer Of
tho Citv of FL Ccntro. in said Citv.
IN tho County OF Imperial. State Of
California, on date to be hercaf-
ter fixed in said bonds, until the
whole principal has been paid; that
tho interest on said bonds shall bo
paid semi-annuallv at the same
nlace. one Of such semi-annual pay
mcnts in each year being made at
the date of the payment of the an
nual installmant of the prinriDal of
such indebtedness 20 aforesaid: said
| Indebtedness shall be evidenced bv
, bonds and proper coupons attached
thereto. separate counons being at-
tachcd TO each bond for each semi
annual payment If interest to be-