Imperial Valley press., 1932-04-07

line, or sewer-pipe from said City OF
Ell Centro to the outlet thereof,
northwest of El Centro in New
River" as shown by a map thereof
on file with the City Engineer of
said City of Ell Centre; and the do
ing of all trench work and all other
work necessary therefor and appur-
tenant thereto; and the acquisition
of all rights-of-Way and property
necessary for the construction and
completion of said sewer line; that
the estimated cost of said construe-
ton and acquisition of said rights
of-way, is $185, 10000, and said cost
is and will be too great to be paid
out of the ordinary annual income
and revenue of said city, and said
construction and said acquisition Of
said rights-of- way will require ex-
penditure greater than the amount
allowed for such improvement by
the annual tax levy; that the
amount of the principal of the in
debtedness to be incurred therefor
is $185 100000, and the maximum
rate of interest to be paid on said
indebtedness is six per cent per an
mum, payable semi annually, which
rate shall not be exceeded in the
issuance of the bonds for such in
debtedness.
SECTION ": That an election
shall be held in said City of FL
Centro on Monday, the 18th day of
April, 1882, and is hereby called on
that day for the purpose of sub
hitting to the qualified voters of
said city, the proposition herein
before mentioned, to-wit: the prop
osition OF mourning a bonded in
debtedness by said City of Ell Centro
in the sum of $185, 100000 principal
and from the sale of such bonds to
pay the cost of the acquisition, con-
structIon and completion of cer-
tain municipal improvement, to-
wit, the construction and inStalla-
ton of a sewer line or sewer pipe
from said City of Ell Centro to the
outlet thereof northwest of Ell Gen.
tro in New River" as shown by
map thereof on file with the City
Engineer of said City Of Ell Centre;
and the doing of all trench work
and all other work necessary there
for and appurtenant thereto; and
the acquisition of all rights-of-Way
and property necessary for the con-
struction and completion of said
sewer line.
Said election shall be held on
said 18th day of April, 1882, in said
City of El Centro in all particulars
not recited in this ordinance as pro-
vided by law for holding municipal
elections in said municipality and
! said election shall be held concur
rently with and shall be and is
hereby consolidated with the gen.
eral municipal election to be held
on said 18th day of April, 1882, and
the precincts, polling places and Of
ficers of election for the election
herein called shall be the same as
those set forth in Resolution No.
389 adopted by said City Council
at it's regular meeting held on
March 2nd, 1892, and entitled "a
Resolution Providing for the Pre-
cincts, Polling Places and Appoint
ing the Election Officers for the
General Municipal Election to be
held in the City of Ell Centro on
the 18th day of April, 1882; and-or
in the notice calling said general
municipal election and entitled
Notice of Election" and published
in the Imperial Valley Press, daily
newspaper of general circulation
published in said City of Ell Centro
and appearing therein on the 2lst
day of March, 1882, to which reso-
luton and notice, reference is here
by made for further particulars.
SECTION v: THAI If the propo-
sition of mourning the bonded in
debtedness hereinbefore mentioned,
so submitted at such election, re-
ceives the requisite number of votes,
| to-Wit, tWo-thirdS of the votes of
the qualified voters voting on such
proposition, bonds of said City in
the amount of $185, 100000 shall be
issued and sold for the purpose of
acquiring. constructing and COM
pleting said municipal improvement
and acquiring said rights -of-way
necessary therefor. Said bonds shall
bear interest at a rate not exceeding
six per centum (6%o) per annum,
payable Semi-annually and the
principal and interest thereof shall
be payable in lawful money Of the
United States of America. One
thirty-seventh U-37th part of the
principal of said bonds shall be
paid each year at the office of the
City Treasurer of the City of El
Centro, 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-an-
nually at the same place, one of
such semi-annual payments in each
year being made at the date of the
of the principal of such Indebtedness
as aforesaid; said Indebtedness shall
be evidenced by bonds and proper
coupons attached thereto, separate
coupons being attached to each
bond for each semi-annual payment
of interest to become due on said
bonds and such bonds shall be is
sued in such denominations or de-
nomination as the City Council of
said City shall determine in ac-
cordance with law; said bonds shall
be signed by the mayor and presi-
dent of the City Council of said
City, and also by the Treasurer of
said City and shall be counter
signed by the City Clerk of said
City. The coupons of said bonds
shall be numbered consecutively
and signed by the Treasurer.