HomeMy WebLinkAboutResolution 1958 - 0557RESOLUTION NO.,557-3
RESOLUTION OF THE BOARD OF D~ECTORS OF
COUNTY SANITATION DISTRICT NO,3 OF
ORANGE COUNTY,CALIFORNIA,PROVIDING FOR
THE ISSUANCE OF BONDS 0?SAID DISTRICT IN
THE AMOUNT OF $9,715,000,
The Board of Directors of County ~an1tation District No.3
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 Sani
tation District No.3 of Orange County,on April 9,1958,adopted
the report,required by Section 4748 of said Act,of J.R.Lester
Boyle and 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 prop
osition of incurring a bonded debt in the amount of $13,015,000
for the purposes stated in said report;and
W~~EAS,this Board of Directors on August 5,1958,duly
canvassed the returns of said election and adopted Its resolution
finding and determining that at said election more than two-thirds
of the total votes cast were in favor of incurring such bonded
indebtedness;and
WHEREAS,it is desirable that $9,715,000 of said bonds to be
designated as Election 1958,Series A be issued at this time;
NOW,THEREFORE,IT IS HEREBY RESOLVED,DETERMINED AND ORDERED
by the Board of Directors of County Sanitation District No,3 of
Orange County,as follows:
1.That the bonds of County Sanitation District No,3 of
Orange County,Qalifornia,in the principal sum of Nine Million,
Seven Hundred Fifteen Thousand pollars ($9,715,000)be issued and
sold in accordance with the provisions of said County Sanitation
District Act for the objects and purposes set forth in the
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resolution calling said special election.Said bonds shall be
designated COUNTY SANITATION DISTRICT NO 3 OF ORANGE COUNTY,
CALIFORNIA,BONDS,ELECTION,1958,Series A shall be nine thousand
seven hundred fifteen in number,numbered 1 to 9,715,inclusive,
of the denomination of $1,000 each,and shall be dated January 1,
1959.Said bonds shall bear interest at a rate or rates to be
hereafter fixed by resolution,but not to exceed six percent (6%)
per annum,payable annually for the first year and thereafter
sexnlaniiually.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 Coun~r Sanitation
District No.3 in the City of New York,New York,or the City of
Chicago,Illinois,at the option of the holders
2,Said bonds shall be paid In consec~.ztIve numerical order,
$65,000 thereof on January 1 of the year 1960,$130,000 on Jan
uary 1 of the year 1961,$170,000 on January 1 of the year 1962,
$200,000 on January 1 of the year 1963,$300,000 on January 1 of
each of the years 1964 to 1971 Inclusive,and $375,000 on January 1
of each of the years 1972 to 1989 inclusive.
3.That said bonds shall be in substanti&lly the following
form:
UNITED STATES OF AMERICA
STATE OF CALIFORNIA
COUNTY OF ORANGE
BOND OF COUNTY SANITATION DISTRICT NO.3
OF ORANGE COUNTY
ELECTION 1958
SERIES A
No.________$1,000.00
COUNTY SANITATION DISTRICT NO.3 OF ORANGE COUNTY,
CALIFORNIA,a district created and existing under and by virtue
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of the County Sanitation District Act,now Chapter 3,?art 3~
Division V of the Health and Safety Code of the State of Calif
ornia,FOR VALUE RECEIVED,hereby acknowledges itself indebted
and promises to pay to the bearer hereon on the first day of
January,19,the sum of One Thousand Dollars ($l.000)with
interest thereon from the date hereof,at the rate of
____
percent
(__~%)per annum,payable semiannually on the first days of
July-and January of each year until this bond is paid,except,
that inte”est for the first year shall be payable in one install
ment 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
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 aational Trust and Savings
AeBociation in the City of Los Angeles,California,or the City
of San Francisco,California,or at any fiscal agent of said
County San1tati~n Dütr!ct No.3 In the ~ty ef New York,New
York,or the City of Chicago,Illino~.s,a~the option of the
holder.
This bond is one of a series of 9,715 bonds of like tenor
and date,except as to maturity and except that the interest
rates thereof may differ,numbered respectively from 1 to 9,715,
inclusive,amounting In the aggregate to Nine Million,Seven
Hundred Fifteen Thousand Dollars.
This bond is issued by the Board of Directors of County Sani
tation District No.3 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 daly called and held on August 5,1958.
IT IS HER~Y CERTIFIED,RECITED AND DECLARED that said
election was duly called,duly held and duly óonduoted and the
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notice thereof duly given and the returns thereof canvassed and
declared in accordance with a].].of the provisions of law relating
thereto,and that all of the proceedings of the Board of Director
of County $anitation D1strict~No..3 of Ovange 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 Constituti~on of the State of California.
This bond is in the form prescribed by resolution of the
Board of Directors of County Sanitation District No.3 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 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 WITNESS WHEREOF,the Board of Directors of County Sarii
tation District No.3 of Orange County,California,has caused
this bond to be signed by its Chairman by his engraved or litho
graphed 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.
COUNTERSIGNED:
AUDITOR OF THE COUNTY OF ORANGE CHAIRMAN OF THE BOARD OF
AND EX OFFICIO AUDITOR OF COUNTY DIRECTORS OF COUNTY SANITATION
SANITATION DISTRICT NO.3 OF DISTRICT NO.3
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 19
COUNTY SA}IITATION DISTRICT NO,3
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 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.3 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.
AITOROUThECOUNTY OP ORANGE
AND EX OFFICIO AUDITOR OP COUNTY
SANITATION DISTRICT NO.3 OF
ORANGE COUNTY
5.That the Chairman of the Board of Directors of County
Sanitation District No.3 be and 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 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 orlithographed 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.3 of Orange County,and all pre
miume 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 ex
elusively to the objects and purposes mentioned in the resolution
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of this Board of Directors adopted June 11,1958,calling the
special election at which said bonds were authorized.
7.That the Board of Directors shall annual1y~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 amcu~t of taxes required b;~law for county purposes,
furnIsh to said Boarr~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 be
fore 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 collected,a tax upon the
taxable real property in said County Sanitation District No.3
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 of the principal thereof as is to be
come 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 purposes and when
collected shall be paid into the Treasury of Bald Orange County
to the credit of said District and shall be used for the payment
of the principal and interest upon Bald bonds and for no other
purpose.The principal of and interest on 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.
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The above and foregoing Resolution No.557-3 was regularly
passed and adopted by the Board of Directors of County Sanitation
District No.3 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 No.3
Orange County,California
STATE OF CALIFORNIA)
ss
COUNTY OF ORANGE )
I,ORA MAE MERRITT,Secretary of the Board of Directors of
County Sanitation District No.3 of Orange County,California,
do hereby certify that the above and foregoing Resolution No.557-3
was regularly passed and adopted by the Board of Directors of
County Sanitation District No.3 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 Thomas Baroldi,Herbert Cook,Earl T.Irby
Jim Kanno,W.A,MacKinnon,Glenn G.Fry,W.A.Peak,
Frank J.Schweitzer,Jr.,Walter W.Walker,Willis
H1 Warner and Howard N.Cornwell
NOES:Directors None
ABSENT:Directors Paul C.Furman and John R.Dunham
IN WITNESS WHEREOF,I have hereunto set my hand and affixed
the official seal of County Sanitation District No.3 of Orange
County,California,this 22nd day of October,1958.
Secretary,Board of Directors
County Sanitation District No.3
Orange County,California
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