Imperial Valley press., 1925-03-16
Legal Advertisement

/ 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
annually each year, until said bonds
are paid, or until there shall be n
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
tielent 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 pur.
poses and shall be collected at the
same time and in the same manner
rs other municipal taxes are collect.
ed, and be used for no other pur.
pose than the payment Of said
ends and accruing interest
SECTION X1II. That if the pro-
sitlon of incurring the bonded in
labtedness provided for in the third
proposition hereinabove mentioned.
so submitted at such election, re-
eelFes the requisite number of votes.
to-|lt, two-thirds of the votes of
the qualified voters voting at such
. election, bonds of said CITY in the
amount of Four Thousand five hun
dred Dollars ($4,50000) shall be is.
sued and sold for the purpose of ac-
curing, constructing and completing
said municipal improvement men.
toned in said third proposition. Said
bonds shall bear interest at a rate
not exceeding six per centum (6Gs)
per annum, payable semi-annuallv
and the principal and interest there
of shall be payable in lawful money
of the United States of America.
Ope-tenth part of the principal of
said bonds shall be paid each wear
at the office of the City 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 at the same
place, one of such Semi-annual nav.
ments in each year being made at
the date of the payment of the an
hual Installment of the principal of
such indebtedness as aforesaid: said
Indebtedness shall be evidenced bv
bonds and proper coupons attached
thereto, separate coupons being at
taehed 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;
sald bonds shall be signed by the
president of the Board of Trustees
of said City, and also by the Treas
trcr of said City, and shall be
counterSigncd by the City Clerk of
said City. The coupons of said
bonds shall be numbered eonsccu-
tivelv and signed by the Treasurer.
SECTION NV. That for the
purpose 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 levy.
and IN the manner for such general
tax levy provided, levy and collect
ahnGallv each wear, until said bonds
are paid. or until there shall be n
sum IN the treasury of said CITY sot
apart for that purpose, to meet all
sums coming due 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 as shall be
come due before the time for fixing
the next general fax 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 municipaI taxes are collected
and he used for no other purpose
than tho payment of said bonds and
'"rruinP interest.
SECTION XIV. That if the pro.
ro"itiou of incurrino tho bonded in
'ohtedness provided for in the
fourth proposition hereinabove men.
: toned so submitted AZ such elec.
tion. receives the requisite number
/ of votes, tO-wit, two-thirds of tho
votes of the qualified voters vot.
] ing at such election, bonds of said
CITY in the amount of Three thou
said five hundred Dollars ($3.5o0.00)
shall he issued and sold for the pur-
nose of acquiring. constructing and
completing said municipal improve
ment mentioned in said fourth pro-
! nosition. Said bonds shall bear in.
terest at rate not exceeding six
per centum (6%a) per annum, pay
able semi-annuallv and the prin-
/ cipal and interest thereof shall be
navable 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 Imperial. State of
California, on date to be hcreaf.
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 bv
bonds and proper coupons attached
thereto, separate coupons being at
tachcd to each bond for each semi
annual payment Of interest TO- be-
on,s,n la. ,..I l,.,1. ',