Imperial Valley press., 1937-05-13
NOTICE OF PROPOSED RURAL
IELECTRIFICATTON ADMIN
ISTRATION CONTRACT
lNTarcy, IQ2Sl

NOTICE IS HEREBY GIVEN to
the electors of Imperial Irrigation
District that the Rural Electrifica-
tion. Administration, acting under
and for and on behalf of the Unit
ed States of America, has proposed
a contract to the Imperial Irriga-
ton District the nature of which,
in substance. is as follows:
The Rural Identification Admin
istration. under and pursuant to
the Rural ElectrDication Admins
tration Act of 1896, by and on
behalf of the United States Of
America proposes to lend to the
Imperial Irrigation District an
amount not to exceed 100000, for
the purpose of enabling the Dis
trict to construct rural electrifi-
cation project Gas more fully dc
Scribed in said contracO, consisting
of approximately 600 miles of
electric transmission and diStribu-
tion lines in rural areas within
Imperial Irrigation District, Impe-
rial County. State of California.
including lines on private property
to serve individual customers. TO
be constructed substantially within
the general plan Of location of lines
and other elements OF the project
Gas more fully described in said
contracD for the purpose of fur
nishing electric energy to approxi-
mately 1900 customers, together with
sub-stationS. SecondarieS. trans
formers meters ami all other ap-
purtnnanCeS necessary for the eff
cient operation of the project de
scrlbed III said contract, the pro
ceedS of said loan to be applied
to the cost of said project (as
defined in said contracb. including
certa in interest on the revenue bonds
hereinafter referred to during such
construction.
That the consideration therefor
is the iSSuancc by Imperial 1rriGa-
tion District Of revenue bonds not
TO exceed in aggregate principal
amount $700.00O, to be dated as Of
May I. 1897. or such later date as
may be satisfactory to the parties.
TO bear interest at the rate Of
2.771e per amum, payable semi
annually: TO mature serially in semi
annual irTtaImentS commencing
January |. 194i. and ending July |.
1856. i'm not less. than $1,000 nor
more than $4,000 per each semi
annual installment. and to be pay
abb, exclusively out of the special
fund to be designated Fifth Special
Issue United States Contract Fund. :"
derived from the revenues of said
rural electrification project to be
constructed from the proceeds of
said bonds (and in no event from
assessments or water tolls); said
bonds to be sold and delivered to
the United States of America by
and through the Rural Electrifica-
ton Administration for not less
than the par value thereof and
accrued interest thereon to date
of delivery.
That said contract shall become
effective on the date following the
approval thereof by the Qualified
electors of Imperial Irrigation Dis
trict voting at a special election
to be called and held for that pur-
pose (and for the purpose of au-
thoriZing the issuance of said rev.
enue bonds in the manner provided
by law and when duly executed by
the parties thereto upon the ap-
proval thereof by the California
Districts Securities Commission
Particular notice is hereby given
that the Board of Directors intends
to call and hold said election as
soon as practicable.
That a brief summary of the con-
tents of said contract is as follows:
Said contract provides for the con-
struction by said District by force
account of a rural Identification
project hereinbefore referred to, in
accordance with plans and specifi-
cations to be prepared by the Dis
trict and approved by the Rural
Electrification Administration. Pay
ment for said work shall be made
through funds advanced by the
Rural Electrification Administra-
tion through the purchase of the
revenue bonds to be issued by the
District, containing the terms and
subject to the conditions here
inbefore referred to. The District