Imperial Valley press., 1931-10-26

tro, does not exceed the limit pre-
scribed by the constitution and
laws of the State OF California.
IN WITNESS WHEREOF, the
City of El Centro has caused this
)ond to be signed by the Mayor and
Treasurer of the City of Ell Centre,
md to be countersigned by the City
Clerk of the City of El Centre, this
1st day Of October, 1881.
..-......-...-.....- ...-..-.-....-.-...
Mayor of the City of El Centro.
Treasurer OF the City of Ell Centre.
Countersigned:
.............---...-..
City Clerk of the City of
q Centro."
Coupons shall be attached to each
If said bonds for the interest accru-
ng thereon, and said coupons shall
)e substantially in the following
sorm, to-wit:
On the 1st day of ..........................
month of maturity A. d. ID.
year of maturity, the City of Ell
1entro will pay to the bearer at the
)ffice of the Treasurer of the City
If Ell Centro, in Ell Centro, Califor-
lia, the sum Of
dollars
n lawful money of the United
States of America, being the semi
annual interest due on City of Ell
Jentro Funding Bond Series No. II
No (r1iir11ber of hofld to
which coupon is attached.
...-..--...---.- 'ia
Treasurer of the City of El Centro.r
SECTION 3. That the Mayor
and Treasurer of the City of Ell
Jentro are hereby authorized and
directed to sign all of said bonds,
and the City Clerk of the City of Ell
Centro is hereby authorized and di-
rected to countersign all of said
bonds and to affiX the corporate
seal of the City of Ell Centro there
TO, and the Treasurer of the City OF
81 Centre is hereby authorized and
directed to sign the interest coupons
Of said bonds by his autographed
Or engraved signature, and said
bonds shall be delivered by the City
Clerk of the City of Ell Centre to the
Treasurer of the City of Ell Centric
and shall be issued and sold as may
De provided by the City Council OF
she City of El Centre.
SECTION 4. The proceeds OF the
ale of said bonds shall be placed in
he treasury of the City of Ell Gen.
| lro to the credit of a fund to be
snown as the "City of El Centre
| Funding Bonds, Series No. l, Fund
! ng Fund" and shall be applied on
y to the purposes mentioned in this
| ordinance. to-wit, the funding OF
| he outstanding indebtedness of the
City Of Ell Centre represented by
Judgment in the case of George H.
Oswald VS.. City of Ell Centro.
SECTION 5. For the purpose OF
securing and providing for the pay
ment of the principal and interest
| If said bonds, there is hereby Great
| ed a fund to be known as the City
| Of Ell Centro Funding Bonds, Series
No. l, Interest and Sinking Fund
| and all the money which from time
to time shall be placed in said fund
shall be and is hereby set apart ex-
| clusively for the purpose of meeting
| all sums coming due for principal
| and interest on the aforesaid bonds
, 10 be issued under the proceedings
| nereinbefore set forth. That for the
purpose of paying the principal and
interest of said bonds the City
Council of the City of Ell Centre,
shall, at the time of fixing the gen.
eral tax levy for each year and in
the same manner as such tax levy
is made, levy and collect sufficient
money to pay such part of the prin-
,ipal of said bonds issued hereunder
as one year bears to the number Of
years for which said bonds are to
run, and also the annual interest
upon the sums unpaid. 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 municipal taxes are collected,
and shall forthwith be turned over
and paid into said City of Ell Gen.
tro Funding Bonds, Series No. /
Interest and Sinking Fund.-" and
the same shall be used for no other
purpose than the payment of said
bonds and interest.
| SECTION 6. The City Clerk of
the City of Ell Centro shall certify
to the publication of this ordinance
by the City Council of the City of
Ell Centre by a two-thirds vote, and
shall cause the same to be published
once in the Imperial Valley Press,
a newspaper of general circulation
printed, published and circulated in
said City of e. Centro.
PA SSED, APPROVED AND
ADOPTED this 7th day of October,
1881.
Fl. w. FAWCETT,