Imperial Valley press., 1925-04-10
Legal advertisement

ing and competing certain munlcl-
pal improvements, namely, that Ger
tain street work, to-wit, pavement
of thos1 certain portions of streets
respectively described in said rcso-
lutions and in said propositions sub
nittcd at said elcct.on-said propo-
sitions being designated in said
Ordinance respectively as PROPOSE
ton 40. /, Proposition No. ,, Propo-
sition No. , and Proposition No. 4;
and,
Whereas, said Board Of Trustees
at an adjourned regular meeting
thereof, held on the 30th day of
March, 1925, (being the time fixed
by law, and by the Ordinance aforc
said, for canvassing the returns Of
said clcction) did canvass the re
turns of said election aud did then
and there find and declare by rcso-
luton. that said election had been
regularly held; that at said election
80 votes and no more were cast;
that upon the said proposition Of in
curing bonded debt in the sum
Of Sixteen Thousand Dollars ($16,-
0O0.00) (bcing the proposition dcsig-
mated in said Ordinanc as PROPOSE
tion No. T. $50 votes and no more
were east, of which 297 were in fav-
or of incurring said bonded debt i'll
said sum of Sixteen Thousand Dol
votes were east against incurring
such bonded debt; that upon the said
said proposition of incurring a
bonded debt in the sum of Eighteen
Thousand Dollars ($1S,000.00) (be-
ing the proposition designated in
said Ordinance us Proposition No.
p 32S votes and no more We're cast,
of which 279 were in favor of in
curing said bonded debt in said
sum of Eighteen Thousand Dollars
($1S, 100000 and - of said votes
were cast against mourning such
bonded debt; that upon the said
proposition Of incurrihg Il bonded
debt in the sum Of -Four Thousand
Five Hundred Dollars 100000
(bcing the proposition designated
in said Ordinanc as Proposition No.
3 324 votes and no more were east,
of which 246 were in favor Of IN
curing said bonded debt in said
sum OF Four Thousand Five Hundred
Dollars ($4,500.00) and IS Of said
votes were east against incurring such
bonded debt; that upon the said
proposition of mourning Il bonded
debt in the sum of Three Thousand
Five Hundred Dollars S3,JO000)
(bcing the proposition designated in
said Ordinance rs Proposition No.
+ 323 votes and no more were east,
of which 243 We're in favor of in
curing said bonded debt in said
sum Of Three Thousand Five Hun
drcd Dollars ($3,50O.O0} and 50 Of
said votes were east against incur
ring such bonded debt; and that
more than two-thirds of All the yot-
crs voting at said election voted
to authorize the mourning of the
bonded Indebtedness mentioned in
said Propositions numebered /, >.
> and + respectively and submitted
/ ut said election; and.
Whereas the total amount of the
/ indebtedness provided for in said
several propositions is the sam of
| FortF-tWo Thousand Dollars (5l2,-
! 000.00), and said sum, together with
! all the present indebtedness Of said
/ City is within the limits provided
! by the laws of the State of Califor-
mia, and it becomes the duty of
said Board of Trustees to direct
the issuance Of said bonds as pro
vided by law and by said Ordinance
No. 287;
Now therefore, the Board of Trus-
tees of the City of FL Centre do or
dain as follows:
SECTION |. That bonds of the
City of FL Centre in the sum of Six
teen Thousand Dollars ($l6,00000)
be issued in accordance with the
provisions of an act of the Lcgisla-
turc of the State of California
which became Il law under constitu-
tional provision without the Cover
nor S approval, February %, 1901,
and all acts and parts of acts am
mandatory thereof or supplement-
arv thereto, and in accordance with
the ordinances of said City, and the
laws of the state of California; said
bonds to be thirty in numbcr-tcn
of said bonds to be of the dcnomi-
! nation of One Thousand Dollars
Isl ,000.000) each, ten Of said bonds
to be of the denomination of Five
Hundred Dollars ($500.00) each,
and ten of said bonds to be of the
dcnomnatiuu of One Hundred Dol
lars (SlO0.OOl cach--Shall be dated
the first day Of June, 1925, and sold
for not less than thcir par value,
to provide money for the ,acquisi-
+ ton, construction, and completion
Of the municipal Improvement des-
cribcd in said Proposition No. /;
that said bonds shall be numbered
consccutiNcIY one to thirty, both in
elusive, according to the date of ma
turity, commencing with those Of
earliest maturitY-ouc of said bonds
of each of said denominations to
mature each year subsequent to
their date until all OF said bonds
are mature; that on the first day
Of Imc, 1926, one bond Of each Of
said denominations being the bonds
Numbered one, two and three, re
spvctivcly, shall mature, and there
.ttcr one bond Of each of said de
nominations as numbered cOuSGcu-
tiNe,y shall mature ON the first day
of June of each such succeeding
year until the first day of June,
1893, when the last three of said
bond, shall NATURE
SECTION IL, That all sums un-
paid upon said bonds shall bear in
trcst al the rate Of six per ccntum