Imperial Valley press., 1925-03-18
Legal A advertisement

= 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
arc paid, or until there shall be n
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 tax suf
ficient to pay the annual interest
on such bonds, and also such part
of the principal thereof rs shall
become due before the time for fix.
ing the next general tax lew. Said
tax shall be in addition to all 9th.
or 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' ana be used for no other pur-
pose than the payment of said
bonds and accruing interest.
SECTION NH. That if the pro.
position of incurring the bonded in
d"btcdncsS provided for in the third
proposition heteinabove mentioned.
so submitted ut such election, re.
crlvcS the requisite number of votes.
to-wit. 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.
drod Dollars ($4 ,50000) shall be is.
sued and sold for the purpose of ac-
! qulrng, constructing and completing
said municipal improvement men,
toned in said third proposition. Said
! bonds shall bear interest at n rate
+ not exceeding six per centum (6Go1
/ per annum, payable semi.annually
and the principal and interest there
OF shall be payable in lawful money
Of tho United States of America.
onc-tenth part of tho principal oe
said bonds shall he paid each yrar
! at the office of the CITY Treasurer
] OF the City of FL Centre, in said
+ City. in the County of Imperial.
E. state of California, on n date to be
! hereafter fixed in said bonds, until
! the whole principal has been paid:
that the inctrest 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 installment Of the princinal OF
such Indebtedness as aforesaid: said
Indebtedness shall be evidenced hy
/ 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.
limitations or denomination as the
board of Trustees Of said Citv shall
determine in accordance with law;
said bonds shall be signed bv the
president of the Roard Of Trustees
Of said CITY. and also by the Treas.
Crcr. of said City. and shall be
eountersigned by the City Clerk OF
said CITY. The coupons of said
bonds shall be numbered consecu.
tivelv and signed by the Treasurer.
/ SECTION XIV. That for the
purpose Of paving the principal and
interest of said bonds the Board of
Trustees Of said City shall. 1T 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 Citv set
/ apart for that purpose, 70 meet all
sums coming due for principal and
! interest on such bonds, n tax suf.
tcient 10 pay the annual interest
on such bonds, and also such part Of
I the principal thereof rs 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 md in the sahe manner az
other municipal taxes are collected,
and he used for no other purpose
than the payment Of said bonds and
accruing interest.
SECTION wv. That if the pro.
! position of incurrinR tho bonded in
! debtedness provided for in the
fourth proposition hercinabove men
J toned so submitted at such elee-
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-
aid five hundred Dollars ($3.5O0. .00)
shah be issued and sold for the pur,
pose of acquiring. constructing and
! completing said municipal improve
mnnt mentioned in said fourth pro-
position. Said bonds shall bear in
terest 1t n rate not exceeding six
per eentum (6cs) per annum, pay
able semi.annually and tho, nriu-
cipal and interest thereof shall be
pavahle 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 tho City Treasurer OF
tho Citv Of Fl Centre, in said City.
in the County of Imperial. State Of
California, on q date 70 be hereaf-
ter fixed in said bonds, until the
whole principal has been paid; that
tho interest on said bonds shall be
paid semi.annually at tho Same
place. one Of such semi annual pay
ments in each year being made at
tho date Of the payment Of the an
nual installmnnt 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