Ordinance No. 351
:;51
OI)P}~ANCE NO.
~
AN ORDINANCE OF ~HE BOARD OF TRUSTEES OF THE
CITY OF VERNON AMENDING ORDI1IANCE NO. 349 .
OF SAID CITY, WHICH IROVIDED FOR THE ISSUING
OF t455,000.00 OF <<ATER WORKS IMPROVEMENT BONDS
AND $15,000.00 OF FIRE AL.ABM IMPROVEMElIT BONDS
OF SAID CI'i'Y AND CHANGING THE NUMBER, lJENOM-
INATIONS AND DATES OF l.IATURITY OF SAID BONDS.
WHEREAS, by an Ordinanoe of the Board of 'rrustee.
of the City of ~ernon, duly passed and adopted by a vote of
more than two_thirds of all the msmbsrs of said Board, at a
~egular meeting of said Board, hsld on the 10th day of h~rch,
1825, signed and approved on said date, bonds of said City
were orders4 to issue in ths amount of 4455,000.00 for con-
struating, improving and operating wells and reservobB for
producing and conserving water and all pumps, motors, maina,
pipes, meters and all property and materials proper or convenient
for and to defray all other ooats of distributing, selling and
uBing water for fire and domeatio purposes (hereinafter called
were ordered to issue
1>he Water Works Improvem.ent); and bonds of said Ci ty/ in ths
amount of "15,000.00 for the acqulai t1on, comtruotlon and
completion of' extensions in "',;he existing fire alarm system
in said City, and all proper~y, materials and labor proper
or convenient therefor (hereinafter oal14d the Fire Amarm
Improvement); sald bonds being ordered to issue in oonformit~
with the vote authorizing the Same at a special election in
said City called for and held on the 27th day OT February,
1925, fcr the purpose of submitting to the qualified sleotors
of said Oity the proposition of inourring bonded indebtednesses
in the amounts and for the purposes eet forth in said Ordlnano8s;
and
No.,2U.
WHEREAS, in said ordinano~1 of 1~roh 10th, 1926,
the number, denominations and dates o~ maturit~ and other
dstails of said bonds were fixsd; and
WHEREAS, Baid Ordinanoe provided that aaid Water
Works I~ovement bonds should be 500 1n number, and 450
thersof should bs of tbe denomination of ~I,OOO.OO eaoh, and
60 thereof should bs of ths dsnomination of ~lOO.OO eaoh;
that said Fire Alarm Improvement Bonds should bs 150 in
number, of the denomination of ;100.00 eaoh;th~be principal
end intsrost GO said bonds, of both kinds, ahould be payabls
in lawful money of the united states; that they should be
datsd Maroh 1st, 1926, and bear intersst at the rats of not
to exceed 6~ per annum, payable Berni-annually, on the first
(jay of September a.nd the first day of March of eaoh ys.ar. and
NHEREAS said Ordinanos prcvided that said 600 ~atsr
Works improvamsnt bonds should be payabls in tbs following
manner: 15 of said Water Works Improvement Bonds, of the
denomination of ~l,OOO.OO eacb, should be paid on the first
day of ~~rch. 1936, and 15 of said Water Works Improvement
Bonds, of the denomination of ~l.OOO.OO each, on the first day
of March of each year thereafter. down to and including the
that
firat day of '~rch, 1964110ne of .aid dater Works Improvement
bonds, of the denomination cf wlOO.OO should bs paid on the first
day of March. 1936, and one (If' said 'Yater W,.Grks .improvement
~onds. of the denomination of ~lOO.OO on the first day of
March of eaoh year thereafter, down to and including the
first day of ~~rch 1944; that two of .aid water Works Improve~
ment ~onda, of tbs denomination of ~lOO.OO each, should be
paid on the first da~ of March, 1945. and two of said Water
Works Improvement ~onjs. of the denomination of ~lOO.OO eaoh,
on the first day of March of Bach year thereafter, down to and
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inoluding the :First day of March, 1964, at the City.'rsasury
of said City of vernon, together With the interest on all
BumS unpaid at BUch date; and
wHEREAS said urdinanoe j>rovidod that said 150 "ire
Alarm Improvsment Bonds should be payablo in the following
manner: 3 of aaid Fire Alarm Improvement Bonds should be
pai d on ths fi rst day of l'J8roh, 1926, and 3 of said Fire .uarm
Improvement Honda on the fi rst day of ~,iarch of each year
thereafter, down to and including the first day of March, 19351 that
tour of said J:!'tir e Alarm Improvement Bondsshould bs :paid on the
first day of March, 1936, and 4 of said ..I!'ira Alarm J.:mpr av erne nt
.Bonde on the fi rst day of Maruh of each year therea.fter. down
to and inoluding the first day of March, 1965, at the City
...'r€lasury of said Uity of vernon, together with the interest
on all sums unpaid at such date.
AN~, WH~~~AS. it is desired to change the number,
denominations and dates of maturity of said bonda.
NOW, THEREFORE, the Board of frustees of the City
of Vsrnon do ordain that said Ordil1anos No.)'y? be and the
.
same ia hereby amended sO far, and so far only, as the Bame
fixes the number, denominations and dates of maturity of
said bonds, and the sams is 60 amsnded; and it is hereby
provided that said Water Works Improvement Bonds shall be
480 in number, numbered from 1 to 480 both inolusive. 450
thsrsof Shall be of ths dsnomination of ~I,OOO.OO eaoh, and
30 thsrsof Shall be of the denomination of $166066-2/3 saoh;
that said Fire Alarm Improvement Bonds shall be 120 in number,
numbored from 1 to 120 both i~cluSive. 80 therao~ ahall be
of the dsnomination of ~lOO.OO sach and 40 thsrsof of the
denomination of ~175.00 each; principal and interest on Said
bonds of both kinds shall be payable in lawful money of the
United Statss.
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Said bonds shall be datsd Mareh 1st, 1925, and besr
interest at the rate of not to exoeed 6% per annum, pB3able
~ernl-annually on the 1st day of September and the 1st day of
1~roh of each year.
Said 480 wa.ter Works ImprovemClut Bonda 6ha~1. "06
payabls in the following manj~r: 15 of said Water Works
Improva~enta Bonds o~ the denomination of ~l.OOO.OO each
and one of said Water Works Improvamsnt Bonds cf the denomina-
tion of ~166.66-2/3 Shall be paid on the first day of March,
1935, and 15 of said Watsr Works Improvement Bonds of the
denomination of .1,000.00 each and one of said Water WorkB
Improvsmsnt Bonds of ths denomination of $166.66-2/3 shall bs
g.f eneh year
paid on ths first day of Maroh~heraafter, down to and in-
cluding ths first day of Maroh, 1964.
Two of said 1i re Alarm Improvemsnt Bonds of the
dsnomination of $100.00 eaoh and ore of said Fir e Alarm Im-
provement Bonds of the dsnomination of $175.00 saoh,shall be
paid on ths 1st day of 1mrch, 1926; two of said Fire Alarm
Improvement Bonds of the denomination of ~100.00 eaoh and
ons of said Fire Alarm Improl'ement Bonds of the denomination
of ii175.00 saohOhall be paid on the 1st day of lllarch of saoh
year thereafter, down to and including the 1st day of Maroh,
1965.
Said bonds of both kindssh.ll bs paid at the City
Treasury of the City of Vernon, together with the Intere8~
on all sumS unpaid.
Said bonda Ilnd ths .,oupons attached therst. shall
be substantially in the ~orm provided in said Ordinanoe No.
)7'9'
. /
, adopted Maroh lOth, 1925.
Said bonds shall be Bigned, countersigned, sealed
and delivered to the City Clerk a8 in said Ordinanoe provided.
-4-
Money Shall be raieed for ths payment of said bonds
and placed in a fund and aptlied as in said Ordinanos providsd.
The City Clerk shall oert1fy to the passage of thiS
OrdinanaQ and ahall cause the Bame to be posted for the time
and in the manner praSCrlD$d by law and thereupon ana therear~er
the same shall be in full force nnd
Adoptsd and approved this
effsc~
X- day of Me.roh, 1925.
,
L
"
dent, Board of
Trustees, Oity of Vernth.
Attssh
/
City Clerk,
I, T. J. FURLONG, City Clerk of ths City of Vernon,
do hsrsby oertify that ths foregoing Ordinanoe was duly passsd
by the Board of (~rusteeB of the City af Vernon, California,
meeting thereof
the President of said Board at a regular
held on ths ~ day of March, 1925, and
and approved by
that the same was passed by the following vots, to-wit:
Ayes:
FURLOi,U U~)HBiN LEVY KNIFFIN
LEONIS
Absent
7~
-~
Noes:
IN WITN]jSS\"IH]jR~OF, I have hereunto set my hand and
005"
1:1
affixed the Beal of the City of' Vernon, California. thi s U -
day of Maroh, 1925.
t~ Y of Vsrnon
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