Imperial Valley press., 1925-03-18
3" SSs.9
Legal Advertisement


Centre in the sum of Three thou
sand five hundred dollars (S3. 800. .OOI
principal, and from the sale OF
such bonds to pay cost of acquiring
constructing and completing . cor
tain municipal improvement. namely
certain street work, to-wit, pave
mcnt of the roadway of that portion
of Sandalwood Drive in said City
/ (shown by map recorded in Book =
of maps at page 80, rd,ords of
Imperial County, California; cx.
! tending from thc west curb line of
fourth Street to the east curb line
of Fifth Street.
Said election shall be held on
said oath day of March, 1925, in
said City of FL Centre, in all par
ticularS not recitcd in this ordin-
ance, as provided by law for hold.
ing municipal elections in said nun.
icipalitv.
SECTION VIII. That if the pro.
position Of incurring the bonded
Indebtedness hercinabove first men.
toned, so submitted at such elec-
tion. receives the requisite number
of votes, to-wit, two-thirds of the
votes of the qualified voters voting
at such election, bonds of said CT.
tv in the amount of Sixteenth thou
sand dollars, ($l6,000.O0) shall be
issued and sold for the purpose of
acquiring, constructing and complct.
ing said municipal Improvement
mentioned in said proposition. Said
bonds shall bear interest ut rate
not exceeding SIX per centum (6Co(
per annum, payable semi-annually
and the principal and interest there
of shall bn payable in lawful mon
ev of the United States of Ameri-
ca. One-tenth part of the princi-
pal Of said bonds shall be paid
each wear at tho office of the City
Treasurer of the City of FL Centre
in said City. in the County of lx-
perial, State of California, on
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-annually
at the same place, one of such
semi-annual payments in each
year being made at the date
of the payment of the annual ins.
tallmeDt OF the principal of such
Indebtedness as aforesaid; said in
0ebtedness shall be evidenced by
bonds and proper coupons attached
thereto, separate coupons being at
tached 10 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 pre-
sident of the Board OF Trustees of
said City, and also by the Treasu-
rer Of said City, and shall be coun-
tersicned by the City Clerk of said
City. The coupons Of said bonds
shall be numbered consccutiyclv and
signed by the Treasurer.
SECTION TX. 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 IN the manner for such general
tax levy provided, levy and collect
each year, until said bonds
are paid, or until there shall be a
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, tax
sufficient 10 pay the annual inter
est on such bonds, and also such
part OF the principal thereof as shall
become due before the time for fix
-ng the next general tax levy. Said
tax shall be in addition TO all 9th.
Pr taxes levied for municipal pur-
poses and shall be collected at the
same time and in the same
manner rs other municipal taxes are
collected, and be used for no other
purpose than the payment of said
bonds and accruing interest.
SECTION y. That the proposed
indebtedness Of Sixteen thousand
Dollars ($1G,000o0J, together with
Ill outstanding indebtedness hereto
fore incurred by said City for mum
ipal provements, and all indebt-
adness proposed by this ordinance 10
be incurred, will not in the aggregate
exceed fifteen per cent (15G) of
the assessed value of all rea! and
personal property of said City of
FL Centro.
SECTION XI. That if the propo.
sition of incurring the bonded iu.
tehtedness provided for in the see
ond proposition hercinabove men,
toned, so submitted at such elee-
lion, receives the requisite number
Of votes, to-wit, two-thirds Of the
votes Of the qualified voters voting
lt such election, bonds of said City
in the amount Of Eighteen thousand
Dollars 8,O00.00) shall be issued
and sold for the purpose Of acquir-
ing, constructing and completing
said municipal improvement men.
toned in said second proposition.
Said bonds shall bear interest at
4 rate not exceeding six per cen
tum (6Eo) per annum, payable semi
and the principal and in
terest 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 FL Centre,
in said City, in the County Of Im.
porial, State of California, on n
date to be hereafter fixed in said
bonds until the whole principal has
been paid; that the interest on said