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HomeMy WebLinkAboutResolution 1958 - 0556RESOLUTION NO.556-2. RESOLUTION OF THE BOARD OF DIRECTORS OF COUNTY SANITATION DISTRICT NO.2 OF ORANGE COUNTY,CALIFORNIA,PROVIDING FOR THE ISSUANCE OF BONDS OF SAID DISTRICT IN THE AMOUNT OF $4,650,000. The Board of Directors of County Sanitation District No. 2.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.2 of Orange County,on April 9,1958, adopbed the report,required by Section 4748 of said Act,of J.R Lester Boyle arid Sidney L.Lowry,Engineers of said District;and WHEREAS,on June 11,1958,this Board of DirectOrs adopted a resolution calling and ordering a special election to be held in said District on August 5,1958,for the object and purpose of submitting to the qualified electors of said District the proposition of incurring a bonded debt in the amount of $8,63p,000 for the purposes stated in said report; and WHEREAS,this Board of Directors on August 15,1958,duly canvassed the returns of said election and adopted its res olution finding and determining that at said election more than two-thirds of the total votes cast were in favor of incur ring such bonded indebtedness;and WHEREAS,it is desirable that $4,650,000 of said bonds to be designated Election 1958,Series A,be issued at this time; NOW,THEREFORE,IT IS HEREBY RESOLVE~DETERMINED AND ORDERED,by~.the Board of Directors of County Sanitation Distric No.2 of Orange County,as follows1 —1— 1.That the bonds of Orange County,California,in the principal sum of Four Million Six Hundred Fifty Thousand Dollars ($4,650,000.)be issued and sold in accordance with the provisions of said County Sanitation District Act for the objects and purposes set forth in the resolution calling said special election.Said bonds shall be designated COUNTY SANITATION DISTRICT NO.2 OF ORANGE COUNTY,CALIFORNIA,BONDS, ELECTION,1958,Series A,shall be four thousand six hundred fifty in number,numbered 1 to 4650,inclusIve,of the denom— ination of $1,000 each,and shall be dated January 1,1959. Said.bonds shall bear interest at a rate or rates to be here after fixed by resolution,but not to exceed six percent ~6~) per annum,payabls annually for the first year and thereafter seminannually.The principal of and interest on said bonds shall be payable in lawful money of the United States of America at the office of the County Treasurer of the County of Orange,in the City of Santa Ana,State of California,or at the main office of the Bank of America National Trust and Savings Association in the City of Los Angeles,California, or the City of San Francisco,California,or at any fiscal agent of said County Sanitation District No.2 In the City of New York,New York,or the City of Chicago,Illinois,at the option of the holder. 2.SaId.bonds shall be paid in consecutive numerical order,$25,000 thereof on January 1 of each of the years 1960 to 1961 inclusive,$50,000 on January 1 of the year 1962,$100,000 on January 1 of each of the years 196~to 1964 inclusive,$150,000 on January 1 of each of the years 1965 to 1967 inclusive,$200,000 on January 1 of each of the years 1968 to 1979 inclusive,and $150,000 on January 1 of t -2- each of the years 1980 to 1989 inclusive. 3.That said bonds shall be in substantially the fol lowing form: UNITED STATES OF AMERICA STATE OF CALIFORNIA COUNTY OF ORANGE BOND OF COUNTY SANITATION DISTRICT NO.2 OF ORANGE COUNTY ELECTION 1958 SERIES A No.________$1,000.00 COUNTY SANITATION DISTRICT NO.2 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 acknowledges itself indebted and promises to pay to the bearer hereon on the first day of January,19 ,the sum of One Thousand Dollars ($1,000.00)with interest thereon from the date hereof,at the rate of percent (%)per annum,payable semi annually on the first days of July and January of each year until this bond is paid,except,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 herto attached.Both principal and interest are pay able in lawful money of the United States of America,at the office of the County Treasurer of the County of’Orange,in the City of Santa Ana,State of California,or at the main office of the Bank of’America National Trust and Savings Association in the City of Los Angeles,California,or the City of San Francisco,Calif ronia,or at any fiscal agent of said County Sanitation District No.2 in the City of New York, New York,or the City of Chicago,Illinois,at the option of the holder. -3- This bond is one of a series of 4,650 bonds of like tenor and date,except as to maturity and except that the interest rates thereof may differ,numbered respectively from ].to 4,650,in clusive,amounting in the aggregate to Four Million,Six Hun dred Fifty Thousand Dollars. This bond Is issued by the Board of Directors of County Sanitation District No.2 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 August 5,1958. IT IS HEREBY CERTIFIED,RECITED AND DECLARED that said election waa 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.2 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 Constiution of the State of California. This bond is in the form pre8crlbed by resolution of the Board of Directors of County Sanitation District No.2 of Orange County,and the money for the redemption of this bond and the payment of interest thereon shall be derived froman annual tax upon the taxable real property in said District and all of the said property in said Dist~’ict.shal1 be and remain lIab’e to be taxed for such payments. IN WITNESS WHEREOF,the Board of Directors of County Sani tation District No.2 of Orange County,California,has caused this bond to be signed by its Chairman by his engraved or lithographed signature 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 January,1959. COUNTERS IGNED AUDITOR OF THE CO~JNTY OF ORANGE CHAIRMAN OF THE BOARD OF AND EX OFFICIO AUDITOR OF COUNTY DIRECTORS OF COUNTY SANITATIO1~ SANITATION DISTR~CT NO.2 DISTRICT NO.2 OF ORANGE COUNTY CF ORANGE COUNTY SEAL ~.That coupons shall be attached to each of said bonds for the interest accruing thereon and that said interest cou pons of said bonds shall be numbered consecutively and shall be in substantially the following form: Coupon No. On the first day of 19 COUNTY SANITATION DISTRICT NO.2 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 Ana,State of Caflforni.a or at the main office of the Bank of P.xnerica National Trust and Savings Association In the City of Los Angeles,California,or the City of San Francisco,California,or at any fiscal agent of said County Sanitation Dist~~ct No.2 in the City of New York,New York,or the City of Chicago,Illinois,at the option of the holder the sum of $_______ In lawful money of the United States, being the interest then due on Bond No. Election 1958,Series A of said District Dated January 1,1959. AUDITOR 0?THE COUNTY OF ORANGE AND EX OFFICIO AUDITOR OF COUNTY SANITATION DISTRICT NO.2 OF ORANGE COUNTY 5.That the Chairman of the Board of Directors of County Sanitation District No.2 be and he is hereby authorized and directed to sign all of said bonds by his printed,engraved or -5- lithographed facsimile signature and to affix thereto the seal of said District,and the Auditor of said District be and he is hereby authorized and directed to countersign said bonds, and to sign by his printed,engraved or lithographed signa— ture 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.2 of Orange County,and all premiums and accrued interest received shall be paid.into the fund to be used,for the payment of prinoipal and interest on the bonds,andthe 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 Mey 29,1958,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 f or 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 Supervisor8,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 maimer of levying other county taxes,levy and cause to be collected,a tax upon the taxable real property in said County Sanitation District N0.2 of Orange Count,based upon the last equalized assessment roll of aaid County, -6— sufficient 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.Said tax shall be collected at the same time and in the same manner as the general tax levy for county pruposes 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 interest upon said bonds and f or no other purpose.The principal of and interest o~said bonds shall be paid by the County Treasurer of Orange County in the manner now or hereafter provided by law for the payment of principal of and Interest on the bonds of said county. The above and foregoing Reaolution No.556-.2 was regularly passed and adopted by the Board of Directors of County Sanita tion District No.2 of Orange County,California,at a regular adjourned meeting of said Board held on the 22nd day of October, 1958. Secretary,Board.of Directors County Sanitation District N.2 Orange County,California —7— a 0 STATE OF CALIFORNIA) SB COUNTY OF ORANGE ) I,ORA MAE MERRITT,Secretary of the Board of Directors of County Sanitation District No.2 of Orange County,California, do hereby certify that the above and foregoing Resolution No.556-2 was regularly passed and adopted by the Board of Director~of County Sanitation District No.2 of Orange County,California,at a regular adjourned meeting of said Board held on the 22nd day of October,1958,by the following roll call vote,to wit: AYES:Directors Howard M.Cornwell,Glenn G.Fry,Dale H. Heinly,Jim Kanno,W.A.MacKinnon,Rex A,Parks, Raymond L.Pound,Walter W.Walker,Willis H.Warner and Frank J.Schweitzer,Jr. Directors None ABSENT:Directors None IN WU~ESS WHEREOF,I have hereunto set my hand and affixed the official seal of County Sanitayion District No.2 of Orange County,California,this 22nd day of October,1958. Secretary,Board of Directors County Sanitation District No.2 Orange County,California -8-.