HomeMy WebLinkAboutResolution 1958 - 0551RESOLUTION NO.551-11
RESOLUTION OF THE BOARD OF DIRECTOflS OD
COUNTY SANITATION DISTRICT NO.11 OF
ORANGE COUNTY,CALIFORNIA,PROVIDING FOR
THE ISSUANCE OP BONDS OF SAID DISTRICT IN
THE AMOUNT OF $1,515,000
The Board of Directors of County Sanitation District No.11 of
Orange County,California,resolves as follows:
WHEREAS,in accordance with the provisions of the County
Sanitation District Act,the Board of Directors of County Sanitation
District No.11 of Orange County,on April 28,1958,adopted the
report,required by Section 47148 of said Act,of Lowry-Overmyer and
Associates,Inc.,Engineers of said District;and
WHEREAS,on May 14,1958,this Board of Directors adopted a r~so
lution.calling and ordering a special election to be held in said
District on July 22,1958,for the object and purpose of submitting
to the qualified electors of said District the proposition of incur
ring a bonded debt in the amount of $1,515,000 for the purposes
stated in said report;and
WHEREAS,this Board of Directors on August 1,1958,duly canvas
sed the returns of said eleøtion and adopted its resolution finding
and determining that at said election more than two-tl-iirds of the
total votes cast were in favor of incurring such bonded Indebtedness;
and
WHEREAS,It is desirable that all of said bonds ($1,515,000.00)
to be designated as Election 1958,be issued at this time;
NO~1,THEREFORE,IT IS HEREBY RESOLVED,DETERMINED AND ORDERED,
by the Board of Directors of County Sanitation District No.11 of
Orange County,as follows:
1.That the bonds of County Sanitation District No.11 of
Orange County,California,in the principal sum of One Million,
Five Hundred Fifteen Thousand Dollars ($1,515,000.00)be Issued and
sold in accordance with the provisions of said County Sanitation
District Act for the objects and purposes Bet forth In the resolution
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calling said special election.Said bonds shall be designated
COUNTY SANITATION DISTRICT NO.11 OF ORANGE COUNTY,CALIFORNIA,
BONDS,ELECTION,1958,shall be one thousand five hundred fifteen
in number,numbered 1.to 1,515,inclusIve,of the denomination of
$1,000 each,and shall be dated December 1,1958.Said bonds shall
bear interest at a rate or rates to be hereafter fixed by reso
lution,but not to exceed six percent (6%)per annum,payable
annually for the first year and thereafter semiannually.The
principal of’and interest on said bonds shall be payable in lawful
money of the UnItes States of America at the office of the County
Treasurer of the County of Orange,in the City of Santa Aria,State
of California.
2.Said bonds shall be paid in consecutive numerical order,
$30,000 thereof on Dece’nber 1st of each of the years 1959 to 1962,
inclusive,$40,000 on December 1st of each of the years 1963 to 19~7
inclusive,$45,000 on December 1st of the year 1963,~~o,ooo on Dec
ember let of each of the years 1969 to 1988,Inclusive,and
$15,000 on December let of each of the years 1989 to 1998,Inclusive.
3.That said bonds shall be in substantially the following
form:
UNITED STATES OF AMERICA
STATE OF CALIFORNIA
COUNTY OF ORANGE
BOND OF COUNTY SANITATION DISTRICT NO.11
OF ORANGE COUNTY
ELECTION 1958
No.__________$1,000.00
COUNTY SANITATION DISTRICT NO.11 OF ORANGE COUNTY,CALIFORNIA,
a district created and existing under and by virtue of the County
Sanitation District Act,now Chapter 3,Part 3,DIvision V of the
Health and Safety Code of the State of California,FOR VALUE
RECEIVED,hereby acknow1e~dges itself indebted and promises to pay
to the bearer hereon on the first day of December,19 ,the sum
of One Thousand Dollars ($1,000.00)with interest thereon from the
date hereof,at the rate of
_____
percent (_____per annum,pay
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able semiannually on the first days of June and Deôember of each
year until this bond is paid,e;~oept,that interest for the first
year shall be payable in one installment at the end of said year
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 f.inerica,at the office of the County
Treasurer of the County of Orange,In the City of Santa Ana,State
of California.
This bond is one of a series of 1,515 bonds of like tenor and
date,e;:cept as to maturity and except that the interest rates
thereof may differ,numbered respectively from 1 to 1,515,inclusive,
amounting in the aggregate to One Million,Five Hundred Fifteen
Thousand Dollars.
This bond Is issued by the Board of Directors of County Sani
tation District No.11 of Orange County,California,under the
authority conferred upon said Board by the provisions of said County
Sanitation District Act and by virtue of a two-thirds vote of the
qualified voters of said District voting at an election duly called
and held on July 22,1958.
IT IS HEREBY CERTIFIED,RECITED AND DECLARED that said election
was duly called,duly held and duly conducted and the notice thereof
duly given and the returns thereof canvassed and declared in
accordance with all of the provisions of law relating thereto,and
that all of the proceedings of the Board of Directors of County
Sanitation District No.11 of Orange County in the matter of the
issuance of this bond were regular and in strict accordance with
the provisions of said County Sanitation District Act and of the
Constitution of the State of California.
This bond is in the form prescribed by resolution of the Board
of Directors of County Sanitation District No.1].of Orange County,
and the money for the redemption of this bond and the payment of
interest thereon shall be derived from an annual tax upon the taxable
S
real property in said District and all of the said property in said
District shall be and remain liable to be taxed for such payments.
IN~JITNESS WHEREOF,the Board of Directors of County Sanitation
District No.11 of Orange County,California,has caused this bond
to be signed by its Chairman by his engraved or lithographed signa
ture and countersigned by the Auditor of said District,and the
seal of said District to be affixed thereto,and the interest
coupons hereto attached to be signed by said Auditor by his engraved
or lithographed facsimile signature,this 1st day of December,1958.
COUN~ERSIGNED:
AUDITOR OF THE COUNTY OF ORANGE CHAIRMAN OF THE BOARD OF
AND EX OFFICIO AUDITOR OF COUNTY DIRECTORS OF COUNTY SANITATION
•SANITATION DISTRICT NO.11 OF DISTRICT NO.11
ORANGE COUNTY OF ORANGE COUNTY
SEAL
4.That coupons shall be attached to each of said bonds for
the interest accruing thereon and that said interest coupons of
said bonds shall be numbered consecutively and shall be in
substantially the following form:
Coupon No.
On the first day of
______________________
COUNTY SANITATION DISTRICT NO.11
OF ORANGE COUNTY HEREBY PROMISES TO PAY TO THE
bearer hereof,at the office of the County
Treasurer of the County of Orange,in the
City of Santa Aria,State of California,the sum of
_________in lawful money of the United States,
being the interest then due on
Election 1958,of said District
Dated December 1,1958.
AUDITOR O1~THE COUNTY OF ORANGE
AND EX OFFICIO AUDITOR OF COUNTY
SANITATION DISTRICT NO.11 OF
ORANGE COUNTY
19
$
Bond No.
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5.That the Chairman of the Board of Directors of County
Sanitation Distric~t No.11 be arid he is hereby authorized and
directed to sign all of said bonds by his printed,engraved or
lithographed facsimile signature and to affix thereto the sea].of
said District,and the Auditor of said District be and he is hereby
authorized and directed to countersign said bond8,and to sign by
his printed,engraved or lithographed signature the interest coupons
of said bonds.
6.That the proceeds of the sale of said bonds shall be
placed in the Treasury of the County of Orange to the credit of
County Sanitation District No.11 of Orange County,and all premiums
and accrued interest received shall be paid into the fund to be
used for the payment of principal and interest on the bonds,and
the remainder of the proceeds of the sale shall be paid into the
Construction Fund of the District and shall be applied exclusively
to the objects and purposes mentioned in the resolution of this
Board of Directors adopted May 14,1958,calling the special
election at which said bonds were authorized.
7.That the Board of Directors shall annually,at least
fifteen (15)days before the first day of the month in which the
Board of Supervisors of Orange County is required,by law,to levy
the amount of taxes required by law for county purposes,furnish
to said Board of Supervisors,a written statement of the amount
necessary to pay the interest on said bonds for that year and such
portion of the principal thereof as is to become due before the
time for making the next,general tax levy and the said Board of
Supervisors,in accordance with the duty imposed upon them by the
provisions of said County Sanitation District Act,shall annually
at the time and in the manner of levying other county taxes,levy
and cause to be Qol].ected,a ta::upon the taxable real property
in said County Sa~iitation District No.1].of Orange County,based
upon the last equalized assessment roll of said County,sufficient
to pay the interest on said bonds for that year and such portion
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of the pi~.~1~pa1 thereof as is to be~o~ue-~1~3Do.re the tinie for
ina~ci1ng the next gefi~ers.l tax levy.Said tax shall be colleeted at
the same time and in the same manner as the general tax levy for
county purposes and when collected shall be paid into the Treasury
of said Orange County to the credit of said District and shall be
used for the payment of the principal and tnterest upon said bon&~
and for no other purpose.The principal of and interest on sa~td
bo~a shall be paid by the County Treasurer of Orange County in tIW
manner now or hereafter provided by law for the payment of prin~ip&-l
of and interest on the bonds of said county.
The above an4 foregoing Resolution No,551—11 was r~gu.1arly
Paas~d and adopted by the Board of Directors of Coumty Sanitation
Dtstrict No.11 of Orange County,California,at a regular ad~our7Wd
r~eetirtg of said Board held on the 15th day of October,1958,
~
Secretary,Board of Directors
County Sanitation District No.U
Orange County,California
S~P?i~r~Oi~CALIFORNIA)
COU~y OF ORANGE )
I,ORA MAE ?RR~TT,~,~eezet~ry of the Board of ])irector~of
County Sanitation District No,11 of Orange County,California.,do
hereby certify that the above and.fore,~oin~Reaclution No.551-11
was regularly passed and adopted by the Board of Directors of.COUfltY
Sanitation District No.11 of Orange County,California,at aregu~1a
ad4ourned meeting of said Board held on the 15th day •f October,l95~
by the following roll call vote,towit
AYES:Directors WIllis H.Warner,VictOr Terz~y and Earl T.Irby
NOES:Directors None
ABSENT:Directors None
IN WITNES~WHEREOF,I have hereunto set niy hand and affixed the
o~fi.cia1 seaL of County Sanitation District No.11 of Orange County,
California,thIs 15th day of Octobe 58.
~or C~~rS
County Sanitation District No,11
Orange County,California
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