HomeMy WebLinkAboutResolution 1959 - 0707RESOLUTION NO.707-3
RESOLUTION OF THE BOARD OF DIRECTORS OF
COUNTY SANITATION DISTRICT NO.3 OF
ORANGE COUNTY,CALIFORNIA,PROVIDING FOR
THE ISSUANCE OF BONDS OF SAID DISTRICT IN
THE AMOUNT OF $3,300,000.
The Board of Directors of County Sanitation 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 Sanitation
District No.3 of Orange County,on April 9,1958,adopted the report,
required by Section 1471~8 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 sub
mitting to the qualified electors of Bald District the proposition
of incurring a bonded debt In the amount of $13,015,000 for the
purposes stated in said report;and
WHEREAS,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,$9,715,000 of said bonds,designated as Election 1958,
Series A,were sold on November 19,1958;and
WHEREAS,it is x~ow desirable to sell the remainder of the bonds,
designated as the Election 1958,Series B,in the amount of
$3,300,000,
NOW,THEREFORE..IT IS HEREBY RESOLVED,DETER~NED~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,California,in the principal sum of Three Million
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Three Hundred Thousand Dollars ($3,300,000)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.3 OF ORANGE COUNTY,CALIFORNIA,BONDS,ELECTION,1958,
Series B,shall be three thousand three hundred in number,numbered
1 to 3,300,inclusive,of the denomination 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 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.
2.Said bonds shall be paid in consecutive numerical order,
$70,000 thereof on January 1 of the year 1961,$80,000 on January 1
of the year 1962,$100,000 on January 1 of the years 1963 to 1971
inclusive,and $125,000 on January 1 of each of the years 1972 to
1989 inclusive.
3.That said bonds shall be in substantially the following
form:
UNITED STATES OF AMERICA
STATE OF CALIFORNIA
COUNTY OF ORANGE
BOND OF COUNTY SANITATION DISTRICT NO.3
OF ORANGE COUNTY
ELECTION 1958
SERIES B
No.$a~ooO.oo
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COUNTY SANITATION DISTRICT NO.3 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 (~i,ooo)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 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.3 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 3,300 bonds of like tenor and
date,except as to maturity and except that the interest rates
thereof may differ,numbered respectively from 1 to 3,300,inclusive,
amounting in the aggregate to Three Million,Three Hundred Thousand
Dollars.
This bond is issued by the Board of Directors of County Sani
t~ation District No.3 of Orange County,‘~iliforriia,under the
c-,thorj.ty conferred upon said Board by ~provisions of said County
Sanitation District Act ~i:~d by virtue of a tv:thirds vote of the
c~ualified voters of said Dist.~Lct v’ting at an election duly called
~~nd held on August 5,1958.
IT IS HEREBY CERTIFIED,RECITED AND ~CLARED that said election
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was duly called,duly held and duly conducted and the notice thereof
duly given and the returns thereof canvassed and declared in accord
ance 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.3 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.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 8aid property in said
District shall be and remain liable to be taxed for such payments.
IN WITNESS WHEREOF,the Board of Directors of County Sanitation
District No.3 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,1960.
COUNTERSIGNED:
AUDITOE 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
L~.That coupons shall be attached to each of said bonds for the
interest aceruing thereon and that said inte~’est coupons of said
bonds shall be numbered consecutively and shall be In substantially
the following form:
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Coupon No.
On the first day of
____
COUNTY,SANITATION 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
Election 1958,SerIes B of said
District
Dated January 1,1960.
:
$________________
Bond No.
___________
AUDITOR OF ~E COUNTY OF ORANGE
--
AND EX OFFICIO AUDITOR OF 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 or lithographed signature the interest coupons of said bonds.
6.That.the i:roceeds of the sale r~f said bonds shall he placed
::‘~the Treasury of the County of 0rang~to t:~e credit of County
Sanitation District No.3 of Orange County,~r.d all premiums and
~crued interest received shall be paid into the fund to be used for
~payment of pr~.n.cip~and ±nter~st or..th~bonds,and the :~emaInder
the proceeds of the ~&~le shall be paid ~the Construction F’irid
the District an~i eh~11 be ~pplI~exclusi.”~1y to the objects ~
~‘pose~.rnent~oned in the resolution of this Board of Directors
~dopted June 11,1958,calling the special election at which said
bonds were authorized.
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7.That the Board of Directors shall annually,at lea8t
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
collected,a tax upon the taxable real property in said County
Sanitation District No.3 of Orange County,based upon the last
equalized a8sessment 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 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.707-3 was regularly
passed and adopted by the Board of Directors of County Sanitation
District No.3 of Orange County,California,at a regular meeting of
3atd Board held on the 9th day of September,1959.
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ecretary,Board of Directors
County Sanitation District No.3
Orange County,California
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STATE OF CALIFORNIA)
SS
COUi’~TY OF ORAJ~GE )
i,ORA NAB MERRITT,Secretary of the Board of Directors of
County Sanitation District No0 3 of Orange County,Cali.Eornia,do
hereby certify that the above and foregoing Resolution No..707-3
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 Howard M.Cornwell,Thomas Baroldi,
Herbert Cook,John R.Dunham,Glenn G.Fry,Paul C.
Furman,Earl T.Irby,Jim Kanno,W.A.MacKinnon,
Frank J,Schweitzer,Jr.,Walter W.Walker and Willis
H.Warner
NOES:Directors None
ABSENT:Director William R.Effinger
IN WITNESS ~JHEREOF,I have hereunto set my hand and affixed
the official seal of County Sanitation District No.3 of Orange
County,california,this 9th day of September,1959.
~
Ora W~ëMerritt,Secretary of the
Board of Directors of County
Sanitation District No.3 of
Orange County,California
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