HomeMy WebLinkAboutResolution 1959 - 0705RESOLUTION NO.705-2
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 $4,000,000.
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,adopted the
report,required by Section 4748 of said Act,of J.R.Lester Boyle
and Sidney L.Lowry,~ng1neers 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 proposi
tion of incurring a bonded debt in the amount of $8,650,000 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 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,$4,650,000 of said bonds,designated as Election
1958,Series A,were sold on November 19,1958;and
WHEREAS,it is now desirable to sell the remainder of the
bonds,designated as the Election 1958,Series B,in the amount
of $4,000,000.
NOW,THEREFORE,IT IS HEREBY RESOLVED,DETERMINED AND ORDERED
by the Board of Directors of County Sanitation District No.2 of
Orange County,as follows:
1.That the bonds of Orange County,California,in the
principal sum of Four Million Dollars ($4,000,000)be Issued and
sold in accordance with the provisions of said County Sanitation
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Distriefr Act for the objects arid purposes set forth in the resolu
tion calling Baid spe~ta1 election.Said bonds shall be designated
COUNTY sA~NITA’rIc~DIsr~ioT .~O.2 OF CR~NGL COIJNTIT,CALIFORNIA,BONDS
ELECTION,1958,Series B,shall be four thousand in number,numbered
1 to 14000,inclusive,of the d.erioinination of $1,000 each,and shall
be dated January 1,1960.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 semiannually.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 Aria,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 Sari 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,
$50,000 thereof on January 1 of each of the years 1961 to 1963
Inclusive,$100,000 on January 1 of each of the years 19614 to 1966
Inclusive,$150,000 on January 1 of each of the years 1967 to 1987
inclusive,and $200,000 on January 1 of each of the years 1988 to
1989 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.2
OF ORANGE COUNTY
ELECTION 1958
SERIES B
No._________$1,000.00
COUNTY SANITA2101 ~)ISTRICT NO.2 OF ORANGE COUNTY,CALJFORNIA,
a district cre ed~o ~xIsting under and by virtue of the County
Sanitation Di3tri~Act,now Chapter 3,Part 3,DivIsion V ~f the
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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 8um
of One Thousand Dollars ($1,000.00)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 untI
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 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 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.
This bond Is one of a series of 4,000 bonds of like tenor and
date,except as to maturity and except that the Interest rates
thereof may differ,numbered respectively from 1 to ~,0OO,inclu
sive,amounting in the aggregate to Four Million Dollars.
Th18 bond is issued by the Board of Directors of County Sanita
tion 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
was duly called,duly held and duly conducted and the notice thereof
duly given and the returns thereof canvassed and declared In accord
an~e with all of the provisions of law relating thereto,and that al
of the proceedings of the Board of Directors of County Sanitation
District No.2 of Orange County in the matter of the issuance of
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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.2 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 tax
able real property in said District and all of the said property in
said District shall be and remain liable to be taxed for such pay
ments.
IN WITNESS WHEREOF,the Board of Directors of County Sanitation
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 lithographec
facsimile signature,this 1st day of January,1960.
COUNTERSIGNED:
AUDITOR OF THE COUNTY OF ORANGE CHAIRMAN OF THE BOARD OF DIRECTORS
AND EX OFFICIO AUDITOR OF COUNTY OF COUNTY SANITATION DISTRICT NO.2
SANITATION DISTRICT NO.2 OF OF ORANGE COUNTY
ORANGE COUNTY
SEAL
~.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 substan
tially 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 or 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
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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 B of said District
Dated January 1,1960.
AUDITOR OF 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
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 llthographed 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 Sani
tation 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 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 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 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
of making the next general tax levy and the said Board of Supervisors.
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in aocordance 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.2 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 princi
pal 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 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 interest upon said 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.
The above and foregoing Resolution No.705-2 was regularly
passed and adopted by the Board of Directors of County Sanitation
District No.2 of Orange County,California,at a regular meeting
of eaid Board held on the 9th day of September,1959.
ecre ary,oar 0 rec ore
County Sanitation District No.2
Orange County,California
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STATE OF CALIFORNIA)
SS
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.705-2
was regularly passed and adopted at a regular meeting of said Board
on the 9th day of September,1959,by the following roll call vote,
to wit:
AYES:Directors Frank L Schweitzer,Jr.,Howard N,
Cornwell,Glenn G,Fry,A.A,Hall,W.A,MacKinnon,
Re::A.Parks~Ray~nond L.Pound,Walter W.Walker,
Robert Wardlow and Willis H.Warner
NOES:Directors None
ABSENT:Directors None
IN WITNESS WHEREOF,I have hereunto set my hand and affixed
the official seal of County Sanitation District No.2 of Orange
County,California,this 9th day of September,1959.
~
Ora Mae Ne~iitt,Secretary of~ii~
Board of Directors of County
Sanitation District No,2 of
Orange County~California
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