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ORDINANCE NO. 126 ( New Series )
AN ORDINANCE PROVIDING FOR TIM LEVY A ND COLLECTION OF A TAX TO PAY
TT_-LE PRINCIPAL AND INTEREST OF T�]E CITY OF SAN LUIS OBISPO IMPROVE -
L1ENT BONDS OF 1927.
WHLRLAS the Council of the City of San Luis Obispo did
heretofore, to wit, on the 2-61hday of September, 1927, order
the issuance of $25,000 principal amount of City of San Luis
Obispo Improvement Bondsof 1927, being 25 in number of the
denomination of $1,000 each, all dated October 1, 1927, bear-
ing interest at the rate of five (5) per cent per annum, pay-
able semi- annually April lst and October 1st in each year and
maturing one bond on October 1 in each of the ,years 1928 to
1952;
AND !WHERECA S it is desirable to provide for the levy of
a tax to pay the principal and interest of said bonds, in accor-
dance with the provisions of the statute under which said bonds
were authorized,
NOV;I, 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 for fixing the general tax levy and in the
manner for such general tax levy provided, levy and collect
annually each year until said improvement bonds of 1927 are paid
or until there shall be a sum in the treasury of said city set
apart for that purpose to meet all suns 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 there-
of as shall become due before the time of fixing the next general
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tax levy. The taxes herein required to be levied and collect-
ed shall be in addition to all other taxes levied for municipal
purposes and shall be collected at the time and in the same manner
as other municipal taxes are collected and to be used for no
other purpose than the payment of said improvement bonds of 1927
and accruing interest.
Section 2. This ordinance shall be published with
the ayes and noes for two (2) days in the "San Luis Obispo Daily
Telegram ", a daily newspaper printed, published and circulated
in said City of San Luis Obispo, before its final passage, and
shall thereupon take effect and be in force from and after its
final passage and approval.
The foregoing ordinance was introduced and passed upon
by the City Council of the City of San Luis Obispo this 6th
day of February , 1928 , by the following vote:
Ayes: Chas 96rbes ,L.J.Defosset,H.E.Cox,John Chapek, L.F.Sinsheimer
Noes: None
Absent: None
mayor or the City
of San Luis Obispo.
Attest: Q?Y,
i y er
Finally p assbd � this o; day of, , - 9.28
/ y , by.,the following -vote:
Ayes
Noes
Absent : AQ�r
Attest
City Clerk
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o.; A. _..... .,. 7p
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