Imperial Valley press., 1937-05-14
NOTICE OF PROPOSED RURAL
ELECTRIFICATION ADMIN
ISTRATION CONTRACT
March s. 1927

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
contract to the Imperial 1rriga-
ton District the nature of which,
in substance, is as follows:
The Rural Identification Admin
istration, under and pursuant to
the Rural Electrification Admins
tration Act of 1886, by and on
behalf of the United States of
| Imperial Irrigation District an
| amount not to exceed $700,000, for
the purpose of enabling the Dis
| trict. to construct rural electrifi-
cation project (as more fully de-
scribed in said contract, consisting
| of approximately 600 miles of
| electric transmission and diStribu-
ton 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 and all other ap-
purtenances necessary for the eff
cient operation of the project de-
scribed in said contract, the pro-
ceeds of said loan to be applied
to the cost of said project tas
defined in said contracD, including
certain interest on the revenue bonds
hereinafter referred to during such
construction.
That the consideration therefor
is the issuance by Imperial Irriga-
tion District of revenue bonds not
to exceed in aggregate principal
amount 100000, to be dated as of
May l, 1887, or such later date as
may be satisfactory to the parties;
to bear interest at the rate of
2.77% per annum, payable semi
annually; to mature serially in semi
annuat indictments commencing
January l, 194l, and ending July l,
1856, in not less than $1,000 nor
more than $4,000 per each semi
annual inStallment, and to be pay
able 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 Electrified
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
|
pose fand 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 eletrificatior
project hereinbefore referred to, II
accordance with plans and specifi'
cations to be prepared by the Dis
trict and approved by the Rura
Electrification Administration. Pay
ment for said work shall be made
through funds advanced by tht
) Rural Electrification Administra'
tion through the purchase of thu
; revenue bonds to be issued by thu
District, containing the terms ant
subject to the conditions here
inbefore referred to. The Distrlc
Is required to comply with all ap
plicable laws and to furnish propel
records OF account and to caus,
said revenue bonds to oe issued IL
compliance with the terms ant
conditions of said contract as here
in briefly summarized. A copy o
said contract is now spread upor
the minutes of the Board OF Di'
rectors of Imperial Irrigation Dis
trict and a copy thereof Is on fill
in the office of the Secretary o
said District and open to the in
: spection of all interested persons
during business hours Reference il
: hereby made to said Rural Electri
: fication Administration Contrac
March 5, 193D SO filed and entered
for further particulars thereof anC
the same is hereby incorporated
herein and hereby made a par
hereof.
Dated: Ell Centre Imperial County
California, this 11th day of May
1887.
BY ORDER OF THE BOARr
OF DIRECTORS OF IMPERI.
AL IRRIGATION DISTRICT
al .s.-a w w GOODSON