HomeMy WebLinkAbout0197NORDINANCE NO. 197 (New 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 A.
WHEREAS the Council of the City of San Luis Obispo did
heretofore, to -wit, on the 24th day of April, 1939 order the issu
ance of $25,000.00 principal amount of City of San Luis Obispo
Water Bonds of 1939, Series A, being twenty -five (25) in number
of the denomination of $1,000.00 each, all dated July 1, 1939,
maturing one bond on July lst in each year from 1940 to 1964, both
inclusive, said bonds bearing interest at the rate of three (3)
per cent per annum, payable semi - annually on January lst and July
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 A, -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
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for no other purpose than the payment of said San Luis Obispo Water
Bonds of 1939, Series A 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, formerly the Daily Telegram, 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 13th day of May, 1939,
by the following vote:
AYES: J.B.Berkemeyer, L.J.Defosset, JoseRh Lear:, ,.F Sjngh.
NOES:1r1n_n�___�_ -.- -
ABSENT: R.P0 Howa1? �-
ATTEST:
City Clerk
Finally passed this 22nd day, of May 19399 by the
following vote :
Ayes :tXH.Braz,,il.R.P.Howell.Ralph C.Kennedy,Fred C.Kimball, Joseph Leary
Noes : None
Absent: None
Attest :
City Cle-