ORDINANCE 181r�
1217
ORD INANCE N 0. 181
AN ORDINANCE PRESCRIBING THE FORM OF TIE BONDS
AND COUPONS AND PROVIDING FOR THE ISSUANCE OF
$1469816.00 BONDS OF ACT OF 1927 MUNICIPAL IM-
PROVEMENT DISTRICT 110. 1 OF THE CITY OF EL SE-
GUNDO, AUTHORIZED BY THE VOTERS OF SAID DIS-
TRICT AT A SPECIAL ELECTION HELD OCTOBER 291,
19319 FOR THE PURPOSE OF PAYING A PART OF THE
COSTS AND EXPENSES .OF ACQUIRING LANDS, RIGHTS
OF WAY AND EASEM_EffTS- NECESSARY IN ORDER TO° WIDEN
AND EXTEND THAT CERTAIN PUBLIC STREET COMKONLY
KNOWN AS ARIZONA DRIVE, BETWEEN COLLINGWOOD AVE-
NUE (ALSO KNOWN AS IMPERIAL HIGH'bAY) -AND ROSE -
CRANS AVENIE WITHIN SAID MUNICIPAL IMPROVEMENT
DISTRICT AND THE IMPROVEMENT OF SAID STREET BY
THE CONSTRUCTION AND COMPLETION UPON SAID STREET,
AS THE SAME MAY 19IS T AFTER IT IS WIDENED AND
' EXTENDED, OF CEMENT CONCRETE CURBS AND GUTTERS
AND OF AN ASPHALTIC PAVEMENT FORTY FEET IN WIDTH
ON A PORTION OF SAID STREET AND THE IMPROVE-
MENT WITH OIL OR OIL MACADAM OF OTHER PORTIONS
OF THE ROADWAY OF SAID STREET AND TAE CONSTRUC-
TION OF APPURTENANCES NECESSARY AND /OR CONVEN-
IENT TO SAID IMPROVEMENT.
'dJHEREAS, in pursuance of an act of the Legislature of
the State of California entitled "An Act to provide for the for-
mation of districts within municipalities for the acquisition or
construction of public improvements, works and public utilities;
for the issuance, sale and payment of bonds of such districts to,
meet the costs of such improvements. and for the acquisition or
construction of such improvements. " approved May 24, 1927, as
amended, and of Ordinance No. 179 of the City of E1 Segundo, ap-
proved September 23, 1931, a special election was held in that
certain territory contained within the boundaries of the pro-
posed Act of 1927 IJunicipal Improvement District No. 1 of the
City of El Segundo particularly described in said Ordinance No.
179, the following proposition was duly and regularly submitted
to the qualified electors of said district at such special
election, to -wit:
1-
"Shall that certain Act of 1927, Municipal
Improvement District, known as "Act of 1927 Muni-
cipal Improvement District No. 1 of tke City of
31 Segundo". imur a bonded indebtedness in the
amount of $146,816.00 to pay the costs and ex-
penses of acquiring lands, rights of way and
easements necessary, in order to widen and extend
that certain public street commonly known as
Arizona ?rive. between Collingwood Avenue (also
known as Imperial Highway) and Ro se o raps Avenn e
within said municipal improvement district and the
Improvement of said street by the construction and
--
completion upon said street, as the same may ex-
ist after it In widened and extended of cement
and
concrete curbs and gutters and of an asphaltic
pavement forty feet in width on a portion of
said street and the improvement with oil or oil
macadam of other portions of the roadway of said
street and the construction of appurtenances ne-
cessary and /or convenient to said improvement?"
TfflEREAS, aoamrding to the returns of such special
election as canvassed by the Council of said City of El Segundo
on the 2nd day of November, 1931, the result of which canvass
was then and there asoertained, entered., declared and record-
ed according to lean, more than two.- thirds of all the voters
voting at said election did vote in favor of incurring the
bonded indebtedness as describe.& in maid proposition, as sub-
mitted at said special election, thereby authorizing and em-
powering saLd Council to issue the bonds of said district for
the amount of $146,,816.00 for the purposes aforesaid, payable
2-
rcrk V ;
out of the funds of said district to be provided for as
in said act prescribed; and
WHEREAS, the public interest and necessity of
. - - such Act of 1927 Municipal Improvement District No. 1 of
the City of El Segundo demand, that said $146, 816.00 bonds
of said district be issued aryl sold at the earliest praoti-
cable date for the purpose of providing funds for the
aforesaid improvement.
NO W$ TBEREF0FZ, the City Council of the City of
El Segundo do ordain as followO:
SECTION 1: That bonds of the said Act of 1927, 66- p
Municipal Improvement district No. 1 of the City of Ei
Segun&q be issued in the total amount o f. $146, 816.00 in
accordance with the act of the Legislature of the State of
California entitled "An Act to provide for the formation of
districts within municipalities. for the acquisition or con -
struation of public improvements, works and public utilities;
for the issuance, sale and payment of bonds of such distriote
to meet the costs of such improvements and for the acquisition
or construction of such improvements, " approved May 24, 1927,
as amended. That said bonds shall be 147, in number and shall
be numbered 1 to 147, inclusive,, and shall be designated, "Act
of 1927 Municipal Improvement District No. 1 of the City of
El Segundo Bonds." Bonds numbered 1 to 146 inclusive, shall
each be in the denomination of $1, 000.00 and bond numbered
147 shall be in the denomination o f . $816.00, and the principal
and interest thereof shall be payable in lawful money of the
united States at the office of the Treasurer of said City of
El Segundo; they shall be dated November 18, 1931, and shall
bear interest at a rate not to exc=eed six per cent, peer annum
payable semi - annually on the 18th day of May and November of
each year, the exact rate to be hereafter fixed by resolution
of this council. Said bonds shall be payable in the following
manner:
�7-2
and
1220
Numbers
1
to
9
inclusive,
November
la,
1936;
Numbers
10
to
18
inclusive,
November
189
1937;
Numbers
19
to
27.
inclusive,
November
181,
1938;
Numbers
28
to
37
inclusive,
November
18,
1939;
Numbers
38
to
47
inclusive,
November
189
1940;
Numbers
48
to
57
inclusive,
November
18,
1941;
Numbers
58
to
67
inclusive,
November
18,
1942;
Numbers
68
to
77
inclusive,
November
189
1943;
Numbers
78
to
87.
inclusive,
November
18,
1944;
Numbers
88
to
97
inclusive,
November
189
1945;
Numbers
98,
to
107
inclusive,
November
18,
1946;
Numbers
108
to
117
inclusive,
November
18,
1947;
Numbers
118.to
127
inclusive,
November
189
1948;
Numbers
128
to
137
inclusive,
November
189
1949;
Numbers 138 to 147 inclusive, November-18,, 1950.
SECTION 2: That all of the bonds to be issued in
the above entitled matter, as authorized by a special election
duly and legally held on Thursday, the 29th day of October,
1931, shall be substantially in the following form, to-wit:
No.
UNITED STATES OF AMERICA
STATE OF CALIFOIUIA
CITY OF EL SEGUNDO
ACT OF 1927 MUNICIPAL IMPROVEREUT DISTRICT°
NO. 1 OF THE CITY OF EL SEGUNDO.
B 0 N D
November 18, 1931.
Under and by virtue of an act of the Legislature
of the State of Cali b m.ia entitled: "An Act to pro-
vide for the formation of districts within municipali-
ties for the acquisition or construction of public
improvementp, works and public utilities; for the
4-
issuance, sa:.e and payment of bonds of such districts
T to meet the costs of each improvements and for the so-
quisition or construction of such improvements.", apj4
-°`
proved May 240, 19274 as amended, Act of 1927 Municipal
Improvement District No. 1. of the City of El Segundo,
in the City of El Segundo,, State of California, by its
governing body, the City Council of said city, promisee
out of the fund hereinafter described, to pay to the
bearer on the 18th day, of November, 19 , the sum of
3. , with interest thereon at the rate of—.' _per
cent per annum payable semi - annually on the 18th day or
May and November of each year from the date hereof un-
til this bond is paid, upon presentation and surrender
of the interest coupons hereto attached, principal and
interest payable in lawful money of the United States, at
the office of the Treasurer of said City of El Segundo.
The principal and interest of this bond are payable ex-
olusively out of
a tax levied upon the
taxable
land
in
said Act of 1927
Municipal Improvement
District
No.
1 of
the City of El Segundo, and neither the City of El Segundo
or any officer thereof in holden for the payment there-
of otherwise. It is hereby certified that all the
requirements of the Constitution and the lass of tke
State of California an$ of the ordinances and resolu-
tions of said City of El Segundo have been fully com-
plied with,by the proper officers in the issuing of
this bond, that this issue of bonds has Seem author-
isod by a tva- thirds vote of the duly quallfied voters
of said district voting on the question of such issue
at a special election duly and regularly called
amd held in said district on the 29th day of October,
19319 and that provision has been made fo r
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the collection of an annual tax upon the taxable
land in said district sufficient to pay the inter -
est do this bond and the issue of which it forms a
part, as said interest falls due, and also provision
to constitute a sinking fund for the payment of the
principal thereof.
i
IN WITNESS 'i BBECF, the City Council of the
City of El Segundo, the governing autho ri ty of aai d
Act of 1927 Municipal Improvement District No. 1 of
the City of El Segundo, has caused this bond to be
signed by the Mayor and Treasurer of said City of El
Segundo and countersigned by the Clerk of said City
and the corporate seal of said City to be hereto af-
fixed, and the interest coupons hereto attached to
bear the faasimile signature of said Treasurer, and
this bond to be dated the 18th day of November, A.D.,
1931.
Mayor of y of Segun
COUNTERSIGNED BY:
Treasurer of a City OT El
Segundo
diry Clerk of the Ci
of E1 Segundo.
That coupons consecutively cumbered shall be attached
to each of saCd bands for the interest accruing thereon and said
coupons shall be substantially in the follodng form, to -wit:
0
On the 18th day of
El Segundo, California.
November 18, 193t.
(the month of
matmrity) A.D. 19__ -_ ( the year of maturity) Act of
1927 Municipal Improvement District No. 1 of the City
3r
9222
of
E1 Segundo,
in the
City of El Segundo,
County
of
Los Angeles,
State
of California, will
pay to
the bearer at the office of the Treasurer of the
City of El Segundo the sum of 0 _______J lawful
money of the United States,, the semi -enmal inter-
set due on Act of 1927 Municipal Improvement Dis-
trict No. 1 of the City of El Segundo Bond, Election
19M.0 No. (number of bond to which
coupon is attached), this coupon being pa;yab;le ex-
elusively from taxes levied upon the taxable lend
of sad d district.
Treasurer of e y o
L1 Segundo.
SECTION 3: That the City Clerk is hereby author
ized to receive said bonds ard that the Mayor and Treasurer of
said city are hereby authorized and directed to sign all of said
bonds, and the City Treasurer is hereby authorized and directed
to sign all of tike interest coupons attached to said bands with
his lithographic .or engraved signature, and the City Clerk of
said city is hereby authorized and directed to countersign said
bonds and affix the corporate seal of said city thereon; that
the City Treasurer is hereby authorized to receive ,said bonds
from the City Clerk and to deliver the same to the purchasers
or their duly authorized representative upon receipt of the pur-
chase price thereof.
That the proceeds of the sale of said bonds shall be
placed in the treasury of said City of El Segundo to the credit
of a fund to be ' known as "Act of 1927 Municipal Improvement
District No. 1 of the City of El Segundo Fund, 10 and aisall be
applied exclusively to the purposes and objects mentioned in
7-
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1223
the ordinance ordering the holding of this bond election and
to the inoidentab expenses in connection therewith.
s
SECTION 4 That for the puxpoae of securing and pro -
viding for the payment of principal and interest of said bonds
there is hereby ereated a fund in the treasury of the Oity of
31 Segundo to be known as "Act of 1927 Municipal Improvement
District No. 1 of the City of El Segundo Bond Election 1935
Interest and Sinking Pnnd.O That all the money which from
time: to t im® shall be placed in said fund shall be and is here-
by set apart exclusively for the purpose of meeting all sums
coming due for principal or interest on all of the aforesaid
G bonds which may be issued under the proceedings hereinbefore
recited. That for the purpose of paying the principal and in-
terest of said bonds the City Council of the City of E1 Se-
gundo shall at the time of fixing the general tax levy and in
the manner for such general tax levy provided, levy and col -
loot a tax each year upon the taxable land in such district
sufficient to pay the interest on such indebtedness as it falls
due and also to constitute a sinking fund for the payment of
the principal thereof on or before maturity. Said tax levy
shall be in addition to all other taxes levied for municipal
purposes and when collected shall be placed in the treasury of
said city and shall be placed in the said "Act of 1927 Munici-
pal Improvement District No. 1 of the City of El Segundo Bond
Eleotion 19M Interest and Sinking Fand" and be used for the
payment of interest and principal of sad.d bonds and for no
other purpose,
SECTION 5: The City Clerk shall certify to the pas-
; sage and adoption of this ordinance by a vote of at lsant two -
thirds of all the members, of the City Council of said city and
r�-
8-
1224
.
I
1225.`;
to its approval by the Mayor of said oity and shall cause the
same to be published once in the E1 Segundo Herald, a weekly
newspaper printed, published and oirculated within said City
- of El Segundo, California.
Passed, approved and adopted this math day of November,
19 al.
ayo r or the city of egun
city e
004
STATE OF CALIFOENIA )
COUNTY OF LOS ANGELES ) 33.
CITY OF EL SEG UND 0 )
I VICTOR D. MCCARTEEY, City Clerk of the City of El
Segundo, Cai fo mi s, do hereby certify that the whole number of
members of the City Council of said oity is lime; that the
foregoing ordiname., being Ordinance No. 181 was duly passed
and adopted by said City Council, approved and signed by the
Mayor of said cityy attested by the City Clerk of said city,
all at a regular meeting of said City Council held on the 18th
.� day of November, 1931, and that the same was so passed and
adopted by the folloidng vote:
AYES: Councilmen Gerow, Krimmel, Selby and Mayor Love.
NOES: Councilmen None.
ASSENT: Councilmen Binder. _
4
City Clerk of
(SEAL) Segundo, Californi
9-
1226
CLERK'S CERTIFICATE
STATE OF CALIFORNIA, )
COUNTY OF LOS ANGELES, ) SS .
CITY OF EL SEGUNDO. )
I. Victor D. McCarthy, City Clark of the City of
El Segundo, California, do hereby certify that the whole
number of members of the City Council of the said City is
five; that the foregoing ordinahce, being Ordiname No.
181 is a full, true and correct original of
rd ance No " I'M —0-1 the said City of El Segue o,
Cali to mia, entitled:
"AN ORDINANCE PRESCRIBING TEE FORM OF THE
BONDS AND COUPONS AND PROVIDING FOR THE
ISSUANCE OF $1469816.00 BONDS OF ACT OF 1927
MWICIPAL IMPROVEMENT DISTRICT NO. 1 OF THE
CITY OF EL SEGU9DO, AWM0RISED�. BY THE VOTERS
OF SAID D13 TRICT AT A SPECIAL ELECTION HELD
OCTOBER 299 19319 FOR THE PURPOSE OF PAYING
A PART OF THE COSTS AND EXPENSES OF ACQUIR-
ING LANDS, RIGHTS OF WAY AND EASEMENTS
NECESSARY IN OMER TO WIDEN AND EXTEND THAT
CERTAIN PUBLIC STREET COMUOtsLY KNOW AS
ARIZONA DRIVE BETWEEN C OLLINGWOOD AVENUE
(ALSO KNOWN AS IMPERIAL HIGHWAY) AND ROSE -
CRASS AVENUE WIT-IN SAID MUNICIPAL IMPROVE -
MENT DISTRICT AND THE IMPROVEMENT OF SAID
STREET BY THE CONSTRUCTION AMID COMPLETION
UPON SAID STREET, AS THE SAME MAY EXIST AFTER
IT IS WIDENED AND EXTENDED, OF CEMT CONCRETE
CURBS AND GUTTERS: AND OF AN ASPHALTIC PAVEMENT
FORTY FEET IN WIDTH ON A PORTION OF SAID STREET
AND THE IMPROVEMENT WITH OIL OR OIL MACADAM OF
-°- OTHER PORTIONS OF THE ROADWAY OF SAID STREET
AND THE CONSTRUCTION OF APPURTENANCES NECESS-
ARY AND /OR CONVENIENT TO SAID IMPROVEMENT."
which was duly passed and adopted by the said City Council,
approved and signed by the Mayor of said City and attested
by the City Clerk of said City, all at a regular meeting of
the said Council held on the 18th day of November, 1931, and
that the samme was so passed an -& adopted by the following
vote:
Aye s: Councilmen Gerow, Krimmel, Selby and Mayor Love.
Noes: Councilmen None.
Absent: Councilmen Binder.
I do hereby further certify that pursuant to the
pzuvisions of Section 878 of Act 5233 of the General Laws of
-- the State of California, (Deering 1923 Edition), as amended
to date, that the foregoing ordinance No. .181 vas duly and
regularly published according to the law a =the order of tke
City Council of said City in the E1 Segundo Herald, a weekly
newspaper of general circulation, printed, published and
circulated within the said City, and that the same was so
published therein on the following date, to -wit:
November 26th. 1931. •
1-
WITNESS my hand and the seal of said City
thi s 28th day o f No vembe r, A. D. , 19 31,
ity Clerk of t
El Segando, California.
( SEAL)
f '
2-
1,'Z 7