Imperial Valley press., 1925-03-17
Legal advertisement

"'"'u SiGy SHdU, at Une
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 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 suf-
flclent 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 Dur.
poses and shall be collected at the
same time and in the same manner
as other municipal taxes are collect
ed, and be used for no other pur.
pose than the payment of said
bonds and accruing interest.
SECTION XIII. That if the pro.
position of incurring the bonded in.
debtedness provided for in the third
proposition hereinabove mentioned,
so submitted at such election. re.
celves the requisite number of votes.
to-"lt, twothirds of the votes of
the qualified voters voting at sucb
election, bonds of said CITY in the
amount of Four Thousand five hun.
dred Dollars ($4,500.O0) shall be is.
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%)
per annum, payable emi-annuallv
and the principal and interest there.
or snail be payable in lawful money
or the United States of America.
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
City, in the County of Imperial.
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 paw
ments IN each year being made at
the date of the payment of the an
nual lnstallment 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-
come due on said bonds and such
bonds shall be issued in such demo-
mlnatlons or denomination as the
Board of Trustees of said City shall
determine i'll accordance with law:
sald bonds shall be signed by the
president of the Board of Trustees
Of sad City, and also by the Treas.
urer of said City, and shall be
countersigncd by the City Clerk of
said City. The coupons of said
bonds shall bo 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 tbe
time of fixing the general tax levy
ana 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 III 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-
flclent 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 rs
other municipal taxes are collected
and be used for no other purpose
than the payment of said bonds and
accruing interest.
SECTION XV. That if thc nro.
position of incurring the bonded in
debtedness provided for in the
fourth proposition hereirabove men.
toned 80 submitted at such elec.
ton, 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 ($3,50O. .OO)
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 (6%o) 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-annuallv at the same
place, one of such semi-annual pay
mcnts in each year being made at
the 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.
come due on said bonds and such