HomeMy WebLinkAbout0214NORDINANCE NO. 214 (Neva Series)
AN ORDINANCE PROVIDING FOR THE LEVY AND COL-
LECTION OF A TAX TO PAY THE PRINCIPAL AND
INTEREST OF THE CITY OF SAN LUIS OBISPO WATER
BONDS OF 1939, SERIES B
WHEREAS, the Council of the City of San Luis Obispo did
heretofore, to -wit, on the 18th day of March, 1940, order the issu-
ance of $25,000.00 principal amount of City of San Luis Obispo
Water Bonds of 1939, Series B, being twenty -five (25) in number,
of the denomination of $1,000.00 each, all dated May 1, 1940,
maturing one bond on May lst in each year from 1941 to 1965, both
inclusive, said bonds bearing interest at the rate of three (3)
per cent per annum, payable semi- annually on May lst and November
lst of each ,year; and
WHEREAS, it is desirable to provide for the levy of a
tax to pay the principal and interest.of said bonds in accordance
with the provisions of the statute under which said bonds were
authorized, NOW THEREFORE
BE IT ORDAINED by the Council of the City of San Luis
Obispo as follows:
SECTION 1. The Council of the City of San Luis Obispo
shall, at the time of fixing the general tax levy, and in the
manner for such general tax levy provided, levy and collect
annually each year until said San Luis Obispo Water Bonds of 1939,
Series B, are paid, or until there shall be a sum in the treasury
of said city set apart for that purpose to meet all sums coming
due for principal and interest on such bonds, a tax sufficient to
pay the annual interest on such bonds, and also such part of the
principal thereof as shall become due before the time for fixing
the next general tax levy. The taxes herein required to be levied
and collected shall be in addition to all other taxes levied for
municipal purposes and shall be collected at the time and in the
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same manner as other municipal taxes are collected, and be used
for no other purpose than the payment of said San Luis Obispo Water
Bonds of 1939, Series B and accruing interest.
SECTION 2. This ordinance shall be published, together
with the ayes and noes for two days before its final passage in the
Telegram - Tribune, a daily newspaper printed, published and circulated
in said City and shall take effect and be in force thirty (30) days
after its final passage and approval.
INTRODUCED AND PASSED TO PRINT this 1st day of April, 1940,
by the following vote:
AYES: W.H. Brazil, R.P. Howell. Ralph C.Kennedy, F.C.Kimball, Joseph Lear
NOES: None
ABSENT: None
Mayor
ATTEST:
ctlj� L
City Clerk
Finally passed this 8th day of April 19409 by the
following vote :
Ayes : V1. H. Brazil, E.P.Howell,Ralph C.Kenn edy.F.Q.Kimball. Joseph leary
Noes : None
Absent: None
ATTEST
City Cle
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Mayor