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HomeMy WebLinkAbout1964-01-21; City Council; 1086; 1962 Sewer Bonds series B issuancea ORDINANCE NO. 1086 AN ORDINANCE OF TKE CIClfY OF CARLSBAD, CALIFORNIA, PROVIDING FOR THE ISSUANC OF SEWER BOIQS DESIGNATED 1962 SEWER BONDS, SERIES B OF SAID CITY AMOW OF $1,000,000. WHEREAS, pursuant to Ordinance No. 1075 of the City of Carlsbad, California, a special municipal elec- tion was duly and regularly held in said city on the 16th day of January, 1962, at which election ther to the qualified voters of said city the following bond proposition, to wit: submitted \ BOND PROPOSITION: nded indebtedness in the principal 122,000 for the acquisition and con- struction of a certain municipal improvement for said city to be acquired and constructed in part jointly with the Vista Sanitation District, to wit: tion, treatment and disposal of sewage, includ- ing interceptor sewers, force mains, pumping stations, sewage treatment plant and deep water ocean outfall, and including the acquisition of all land, easements, rights of way and other Shall the City of Carlsbad works and facilities for the collec- necessary therefor? and WHEREAS, said vote and assent of more than two-thirds of all of the quali- fied voters of said city voting on id proposition, and said city is now authorized to issue bonds in the amount and for the purpose set forth in said proposition; NOW, THEREFORE, the City Council of the C Carlsbad, California, DOES ORDAIN as follows: , \ i ! '! i ection 1. That bonds of the City of Carlsbad, California, in the principal of $1, 0 be issued and t forth 5n the b oposition in th Said bonds shall be designated "1962 SEWER recitals hereof. said bonds are paid or until there is a sum in the treasury of said city set apart for tha all payments o become due, le interest on said bonds as it falls due and such part of the before the proceeds of levy will be available. incipal and interest o said bonds as they d collect a tax sufficient to pay the will become next general addition to all other taxes levied for d shall be levied and collected as shall fort h be turned over and d into a fund of the city to be known as "1962 SEWER BONDS, SERIES 13, INTEREST AND be used for no other purpose than the payment of' said bonds and interest thereon until said bonds and interest are Section 5. Any of said bonds may be registered either as to principal only or as to both principal and erest, and the form of registration of any registered hanged or any registered bond may be discharged tion, in the manner and with the effect set forth in the provisions for registration contained in the form of bond set forth herein. Section 6, That said bonds and the eo the interest thereon shall be issued in substantially the following form: 4, UMITED STATES OF MRICA STATE OF CALIFORNIA CITY OF CARLSBAD 1962 SEWER BOND, SERIES B NO. $ The CITY OF C =BAD, a municipal corporation situated in the County of San Diego, State of California, FOR VA CEIVED, hereby acknowledges its’indebtedness mises to pay to the bearer hereof the sum of THOUSAND DOLLARS ($ ) on the first day of July, 19 -’ with interest thereon at the rate of per cent ( $) per annum, interest for the first year payable at the end of said year and interest thereafter payable semiannually on the first days of July and January of each and every year from the date hereof until this bond is paid, on presentation and surrender of the respec- tive interest coupons hereto attached. Both prin- cipal and interest are payable in lawful money of the United States of America at the office of the City Treasurer of the City of Carlsbad, California, in said city, or, at the option of the holder here- of, at the paying agent of the city -Zn Los Angeles, California, Chicago, Illinois, or in New Pork, New YO This bond is issued by the City of Carlsbad 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 Cal fomia, and is authorized by a vote of more than two-thirds of all the qualified voters of said City of Carlsbad voting at an election duly and legally called, held and con- ducted in said city on the 16th day of January, 1962. Unless this bond matures on or prior to July I, 1983, it is redeemable prior to maturity in accordance with the provisions for redemption endorsed hereon. that all acts, conditions and things required by law to exist, happen and be performed precedent to and in th issuance of this bond have existed, happened and een performed in due time, form and manner as required by law, and that the amount of this bond, together with all other Sndebted- ness of said city, does not exceed any debt limit prescribed by the laws or Constitution of the State of California. IT IS €€EREBY CERTIFIED, RECITED AND DECLARED 0 REOF, said City of Carlsbad to be signed by the Mayor easurer of said city by their tures, countersigned by the City nd sealed with the corporate seal of said city, and the interest coupons hereto attached to be signed by the City Treasurer by his facsimile signature, and has caused this ated the first day of January, 1964. On the first day of will pay to the bearer, at the office of the City Treasurer of said city, in said city, or, at Coupon No. the option of the holder hereof, at the paying agent of the city in Los Angeles, California, Chicago, Illinois, or in New in lawful money of the United States of America, being the interest then due on its the CITY OF CARLSBAD, California, 19- York, New York, the sm of $ Sub st ant ially tion shall be printed on the reverse side of each bond: 6. 0 PROVISIONS FOR REGISTRATION bond may be reg ed in the name of any person as the registered hereof, either as to principal only or as to both principal and interest, registered in either of said foms may be to registration in the other of said forms harged from registration. Each registration, t.ran @r after registration, change of Tom of registration, or discharge from registration of this bond shall be entered by the City Treasurer in books kept by him for the purpose and noted by him in the registration blank below, Registration as to principal only shall not affect the negotiability by delivery of the coupons per- taining hereto. cipal and interest, all unmatured coupons pertaining hereto shall be surrendered to the Treasurer and may be preserved or cancelled in his discretion. shall be valid for any purpose unless made by the registered owner and entered and noted as herein provided, and the principal hereof and any redemption premium shall be payable only to the registered owner, or to his order. Interest on this bond, if registered as to both principal and interest, shall be payable to the person whose name appears upon the regist the registered owner hereof at the close on the tenth day preceding the interest p or to his order. IS this bond is re,gistered as to both principal and interest and its registration is changed to registration as to principal only, or if it is discharged from registration, there shall be attached hereto coupons representing in hereon to become due thereafter to the maturity hereof. In lieu thereof, an and cancellation hereof, the Treasure cretion may issue in exchange therefor a new bond, with such coupons attached, id tical with this bond, except foc the previous notati s on the registration blank hereon, and except that the signatures on $he new bond shall be those of the persons holding the offices at the time of affixing such signatures. The issuance of any such new bond or new coupons shall be at the expense of the registered owner. effected by an entry on the registry books, and a notation in the blank below, that this bond is pay- able to bearer, whereupon this bond shall become an unregistered bearer instrument, negotiable by delivery as if it had never been registered. Upon registration as to both prin- So long as this bond is registered no transfer hereof Each discharge hereof from registration shall be Each request 7. e registration, transfer, change or discharge must be in form satisfactory to the Treasurer, and must be made in iting, signed by the registered owner, or by his nt duly authorized in writing, or by the bearer, as the Date of Signature of Registration Registered Registration City Treasurer Substantially the following provisions for redemption shall be printed on the reverse side of the bond: July 1, 1983, ft is redeemable in the manner and subject to the terms and provisions, and with the effect, set forth in Ordinance No of' the City of Carlsbad, at the tion of the City Council of said city on July 1, 1974, or on any intarest payment date there- after prior to maturity, upon at least 30 days' prior notice published i a newspaper circulated in the City of Carlsbad, alifornia, and in a financial newspaper or journal of nation circulation published in the Cfty of New New York, at a redemption price equal to the principal amount thereof, plus interest to the date of redemption plus a premium equal to one-quarter of one per cent of the principal amount for each year or portion thereof remain- ing from the date of redemption to the maturity date of the bonds, or July 1, 1990, whichever occurs ffrst. coupon there shall be 0 7. The bonds maturing on or pr July 1, 1983, shall not be subject to call or redemption prior to maturity. The bonds maturing on on 3uly 1, 1974, or on any interest payment date thereafter prior to ma tion price for each redeemable bond pal amount thereof, plus interest to the date of redempt ne-quarter of one per cent of the beginning with the highest numbered bond.^ The interest pay- e on which bonds are to be p nafter sometimes called the 11 Section 8. Notice of the intended redemption hall be published by one insertion in eneral circulation in the Cit nd in a financial circulation pub lis said publications to b than 60 days prior to the redemption date. newspaper of- 1 of national rk, New York, The notice 9. I ion shall (a) state the re tate the redemption state the numbers and dates of maturity of the bonds to be redeemed, never any call includes all o he numbers of the b s of such matmfty ed; (a) require th bonds be sm- all interest coupons turing subsequent n date at the office of the City Treasurer Carlsbad, California, ereof, at the paying agent of if ornia, Chicago Illinois, or ; (e) require that bonds which a egistered shall accompanied ents of assignme uly executed in er interest on ill not accrue after the ignated redemp- If any of the bonds designate tered, the City Treasurer , on or before of publication of safd ice of redemption, mail ar notice, postage prepai the respec e addresses appearing on the bond registry books. The actual receipt by the holder of any bond to as "bondhol of' notice of ecedent to failure to receiv 10. the cessation of interest on the date fixed for redemption. this sectio shall be given by the City Treasurer. A certificate by the Ci%y Treasurer that notice of call and redemption has been given to holders of registered bonds as herein provided shall be conclusive as against all parties, and no bondholder whose registered bond is called The hotice or notices required by edemption may object thereto or object to the cessation of interest on the redemption date fixed by any claim or showing that he failed to actually receive such notice of 11 and redemption. Section 9. Prior to the time the City Council determines to call and redeem any of said bonds there shall be established in the City Treasury a redemption fund to be described or kn as 1962 SEWER BONDS, SERIES B, RE- hereinafter sometimes ferred to as , and prior to the publication of the a redemption there must be set aside in said s available for the purpose and suf- the premiums payable as in this rdinance provided, the bonds designated in such notice aid moneys must be set aside in said at purpose and shall be applied on or after the redemption date to payment (principal and he bonds to be redeemed upon presenta- interest coupon due after the redemption date. If after if said moneys are part bonds said moneys shall transferred to the fund created for the ent of principal of and interest n such refunding bonds. Section 10. When noklce of redemption has been tially as provided for herein, and when the unt necessary for the redemption of the bonds called for redemption (principal and premium) is set aside for that purpose in the Redemption Fund, as provided for here- ated for red ption shall become due date fixed fo edemption thereof, and, d surrender of said bonds and all wing after the redemption date, at the place spec in the notice of redemption, and, if registered, upon the appropriate of fn blank, such bonds shall be re- aid redemption price out of the 12.