ORDINANCE 465ORDINANCE N0. 465
AN ORDINANCE OF THE CITY OF EL SEGUNDO,
CALIFORNIA, PROVIDING FOA THE ISSUANCE
OF BONDS OF SAID CITY IN THE AMOUNT OF
i0u,
tiHEHEAS, u_�°suanr. to 01dinance No. 342 of the City
of E1 Segundo, California, a special municipal election was
duly and regularly held in said city on the 14th day of December,
1948, at which election there was submitted to the qualified
voters of said city the following bond proposition, to wit:
BOND PROPOSITION: Shall the City of El Segundo
incur a bonded indebtedness in the principal sum of
nine hundred fifty thousand dollars ($950,000) for
the acquisition and construction of a certain munici-
pal improvement to wit: additions to and extensions
and improvements of the water works system of said
city, said additions, extensions and improvements to
consist of the acquisition and construction of water
storage facilities, the acquisition and construction
(including the reconstruction) of wells, water mains,
pipe lines, pumps and pumping equipment and appurten-
ances, and the construction of all buildings necessary
for the storage and housing of water works equipment
and supplies, including the acquisition of all land,
rights of way, pumps, equipment, apparatus, pipe,
material, works, and property necessary for said im-
provement?
and
WHEREAS, said proposition received the affirmative
vote and assent of more than two - thirds of all of the qualified
voters of said city voting at said election, and said City is
now authorized to issue bonds in the amount and for the purpose
set forth in said proposition; and
WHEREAS, $650,000 of said bonds designated WATERWORKS
BONDS, ELECTION 1948, SERIES 1, $100,000 of said bonds designated
WATERWORKS BONDS, ELECTION 1948, SERIES 2, and $100,000 of said
J
bonds designated WATERWORKS BONDS, ELECTION 1948, SERIES 3, have
heretofore been issued and sold; and
WHEREAS, it is necessary and desirable to issue and
sell at this time the remaining $100,000 of said bonds;
NOW, THEREFORE, the City Council of the City of
E1 Segundo DOES ORDAIN as follows:
Section 1. That bonds of the City of E1 Segundo,
California, in the principal sum of one hundred thousand dollars
($100,000) be issued and sold for the purpose set forth in
the bond proposition in the recitals hereof. Said bonds shall
be designated WATERWORKS BONDS, ELECTION 1948, SERIES 4, shall
be one hundred (100) in number, numbered 1 to 100, inclusive,
and shall be of the denomination of $1,000 each. Said bonds
shall be dated November 1, 1955, and shall be payable in con-
secutive numericallorder, $5,000 on November 1 in each of the
years 1956 to 1975, both inclusive.
Said bonds shall bear interest at a rate or rates to
be hereafter fixed by resolution, but not to exceed five per
cent (5%) per annum, payable annually the first year and
semiannually thereafter. Said bonds and the interest thereon
shall be payable in lawful money of the United States of America
at the office cf the City Treasurer of the City of El Segundo,
in the City of El Segundo, California.
Section 2. That the Mayor of the City of E1 Segundo
and the City Treasurer of said City are hereby authorized and
directed to sign all of said bonds by their printed, litho-
graphed or engraved facsimile signatures, and the City Clerk
of said City is hereby authorized and directed to countersign
said bonds and to affix thereto the corporate seal of said
City, and the City Treasurer of said City is hereby authorized
and directed to sign the interest coupons of said bonds by his
2.
X1`1017
printed, lithographed or engraved facsimile signature, and to
number said interest coupons of each of said bonds consecutively.
Section 3. That said bonds and the coupons for the
interest thereon shall be issued in substantially the following
form:
UNITED STATES OF AMERICA
STATE OF CALIFORNIA
CITY OF EL SEGUNDO
WATERWORKS BOND.
ELECTION 1948
SERIES 4
No.
$1,000.00
The CITY OF EL SEGUNDO, a municipal corporation
situated in the County of Los Angeles, State of Cali-
fornia, FOR VALUE RECEIVED, hereby acknowledges its
indebtedness and promises.to pay to the bearer hereof
the sum of ONE THOUSAND DOLLARS ($1,000.00) on the
first day of November, 19 , with interest thereon
from the date hereof at the rate of per
cent ( %) per annum, interest for the fi year
payable a�the end of said year and interest thereafter
payable semiannually on the first days of May and
November of each and every year until this bond is
paid, on presentation and surrender of the respective
interest coupons hereto attached. Both principal
and interest are payable in lawful money of the
United States of America at the office of the City
Treasurer of said City in said city.
This bond is issued by the CITY OF EL SEGUNDO
under and in pursuance of and in conformity with.the
provisions of Article 1, Chapter 4, Division 4, Title 4
of the Government Code of the State of California,
and acts supplementary thereto, and in pursuance of
the laws and Constitution of the State of California,
and is authorized by a vote of more than two - thirds of
all the qualified voters of said City of E1 Segundo
voting at an election duly and legally called, held
and conducted in said city on the-14th day of December,
1948.
IT IS HEREBY CERTIFIED, RECITED AND DECLARED that
all acts, conditions and things required by law to exist,
happen and be performed precedent to and in the issuance
of this bond have existed, happened and been performed
in due time, form and manner as required by law, and
that the amount of this bond, together with all other
indebtedness of said City, does not exceed any debt
limit prescribed by the laws or Constitution of the
State of California.
IN WITNESS WHEREOF, said City of El Segundo has
caused this bond to be signed by the Mayor and the City
Treasurer of said City by their facsimile signatures,
countersigned by the City Clerk of said City, and sealed
NP
with the corporate seal of said City, and the interest
coupons hereto attached to be signed by the City Treas-
urer by his facsimile signature, and has caused this
bond to be dated the first day of November, 1955.
(facsimile signature)
Mayor of the City of
E1 Segundo, California.
(facsimile signature)
C ty Treasurer of the City of
E1 Segundo, California.
COUNTERSIGNED:
City Clerk of the City
of E1 Segundo, California.
(SEAL)
(COUPON FORM)
On the first day of
the CITY OF EL SEGUNDO, California,
will pay to the bearer at.the office
of the City Treasurer of the City of
El Segundo, in said city, the sum of
in lawful money of the United States
of America, being the (annual or
semiannual) interest then due on
WATERWORKS BOND, ELECTION 1948
SERIES 4
dated November 1, 1955.
(facsimile signature)
City Treasurer of the City
of E1.Segundo, California.
Coupon No.
No.
Section 4. That the proceeds of the sale of said
bonds (except premium, if any, and accrued interest) shall
forthwith be turned over to and placed in the municipal treasury
of the City of E1 Segundo to the credit of a fund heretofore
created and designated "WATERWORKS BONDS, ELECTION 1948, CON-
STRUCTION FUND," and the moneys in said fund shall be applied
exclusively to the acquisition and construction of the municipal
improvement described in the bond proposition in the recitals
hereof, except as provided in Section 43628 of the Government
Code of the State of California.
Section 5. That any premiums or accrued interest
from the sale of said bonds shall forthwith be turned over to
and placed in said treasury in the interest and redemption fund
4.
hereinafter created. That for the purpose of paying the
principal and interest of said bonds, the City Council of
the City of E1 Segundo shall, at the time of fixing the
general tax levy, and annually thereafter until said bonds
are paid or until there is a sum in the treasury of said
City set apart for that purpose sufficient to meet all pay-
ments of principal and interest on said bonds as they become
due, levy and collect a tax sufficient to pay the interest
on such indebtedness as it falls due and such part of the
principal thereof as will become due before the proceeds
of a tax levied at the next general tax levy will be avail-
able. Said tax shall be in addition to all other taxes
levied for municipal purposes and shall be levied and col-
lected as other city taxes, and shall forthwith be turned
over and paid into a fund of the City of El Segundo to be
known as "WATERWORKS BONDS, ELECTION 1948, SERIES 4, INTEREST
AND REDEMPTION FUND." Said fund shall be used for no other
purpose than the payment of said bonds and interest thereon
until said bonds and interest are fully paid.
Section 6. That the City Clerk shall certify to
the passage and adoption of this ordinance by a vote of more
than two - thirds of all the members of the City Council of
said City, and shall cause this ordinance to be published
once in the EL SEGUNDO HERALD, a weekly newspaper of general
circulation in said city.
Section 7. This ordinance shall take effect thirty
(30) days after its passage.
ADOPTED, SIGNED AND APPROVED this 14th day of September,
1955.
Mayor of the 'City o egun o,
ATTEST: Californi
City Clerk or e City 0 (SEAL)
E1 Segundo, Californ' .
5.
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES ss.
CITY OF EL SEGUNDO
I, NEVA M. ELSEY, City Clerk of the City of E1
Segundo, California, DO HEREBY CERTIFY that the foregoing
ordinance was introduced and.read at an adjourned regular
meeting of the City Council of said City, duly held on the
7th day of September, 1955, and thereafter at a regular
meeting of said City Council, duly held on the 14th day of
September, 1955, was reread, duly passed and adopted by
said City Council, and signed and approved by the Mayor of
said City, and that said ordinance was passed and adopted
by a vote of more than two - thirds of the members of said
City Council, to wit:
AYES: Councilmen Frederick, Gordon, Swanson
and Mayor Selby;
NOES: Councilmen None;
ABSENT: Councilmen Baker
City Clerk or e o
(SEAL) El Segundo, Californ a.
6.
Affidavit of Publication
S'I ATE OF CALIFORNIA,
COUNTY OF LOS ANGELES, ss
CITY OF EL SEGUNDO,
• • • • • • • • • • • • * •' ^• ........ being first duly sworn, deposes and says: That
he is, and at all of the times hereinafter mentioned was, a c:t'zen of the United States of America,
over the age of eighteen years, and a res'dent f he Ccunty e' Lis Angel_ s, State of California ; that he
was, at, and during all of the time of the pablica;icn of the inztrarnent hereunto attached the........
rr.....::=......... V. 5 ............................................... ...............................
Editor of EL SEGUNDO HERALD, a newsp p_r of S_-ncral circulation, published and circulated weekly in
the City of El Segun lo, in said C unty and State; that :aid newspaper has been so published and
circulated at regular intcry ;ls of ol-1.3 Nveek for riore than one year immediately preceding the
publication of the instrument hereunto a: ax:e :; t..at said newspaper is, and was, at all of the times
herein mentioned, a newspaper of general circulation within the meaning of Section 4460 of the Political
Code of the State of California; that as provided by said ss: -_tion, said newspaper is published for the
dissemination of local or telegraphic news and intelligence of a general Oviracter, having a bona fide
subscription list of paying subs:ribcrs; that said n_w_LpL par is not and t.as not at any of the times herein
referred to, devoted to the interests, or published for the ente tainment or instruction of a particular
class, profession, trade, calling, race or denomination, or for any n mber of such classes, professions, trades,
callings, races or denominations, and that said newspaper is not devoted to or published for, nor was it
at any of the times herein mentioned devoted to or published for the purpose, whether avowed )r
otherwise, of entertaining or instructing such classes, professions, trades, callings, races or denomin-
ations, or any of such classes, professions, trades, callings, races or denominations.
That the notice, order, ordinance, resolution or instrument hereunto attached on page...... numbered
............................................................................. ...............................
hereof in all respects, including subject matter, and size and arrangement of type, is a full, true and
correct copy of the said notice, ordinance, resolution or instrument, in words and figures exactly as
published; that the same was set and printed in type not tnaller than nonpareil and that the body of
the same was preceded with words printed in black -face type not smaller than nonpareil, describing
and expressing in general terms the purpose and character of the notice, order, ordinance, resolution
or instrument intended to be published, as will appear from an inspection of the said annexed instru-
ment; that the..,..: =... 77..... : : :...�.. n 5 �� ......................... ...............................
of which the annexed is a printed copy as hereinabove stated, was published and printed in said news-
paper at least ... �, ....... Week...., by...... :..........consecutive publication...., commencing on the
day of :.. - �......... , A. D. ....... and ending on the...-. .......... of
�• • r• A. D. 19 .... and as often during said time as said newspaper was regu-
to- wit:. : �T�
larly issued, . ..+ ............................. ...............................
:.�. :.. :..... :.... JO.. .......................... ...............................
Subscribed e4nd sworn to before me this.. 7h V
?7.
day of ...: . A A2: 1 .... , A. D. 19.5
City clerk of the City of El Se ndo, County
of Los Angeles, State of California.
Deputy City Clerk of said City.