HomeMy WebLinkAboutResolution 1959 - 0726RESOLUTION NO.726-3
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 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 sub
mitting to the qualified electors of said 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 15,1958,duly can
vassed 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 now 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,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,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°h)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 ysar 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 ANERICA
STATE OF CALIFORNIA
COUNTY OF ORANGE
BOND OF COUNTY SANITATION DISTRICT NO.3
OF ORANGE COUNTY
ELECTION 1958
SERIES B
NO.______________$1,000.00
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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 ($1,000)with interest thereon from the date hereof,
at the rate of
____
percent (7.)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 there
of 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 Sanita
tion 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 duly called and held
on August 5,1958.
IT IS HEREBY CERTIFIED,RECITED AND DECLARED 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 Sanita
tion District No.3 of Orange County in the matter of the issuance
of this bond were regular and in strict accordance with the pro
visions of said County Sanitation District Act and of the Constitu
tion 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 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.
COUNTERS IGNED:
AUDITOR OF THE COUNTY OF ORANGE CHAIRNAN 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:
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Coupon No._______
On the first day of 19
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 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.3 OF
ORANGE COUNTY
5.That the Chairman of the Board of Directors of County
•Sanitat~on 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 proceeds cf the sale of said bonds shall be placed
in the Treasury of the County of Orange to the cradit of County
Sanitation District No.3 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 June 11,1958,calling the special election at which said
l~onds were authorized.
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7.That the hoard of ~irec~ors Thai!ar~nu~fly,at 1eac~
fifteen (15)daq~beEo~p the fir~t day of che.nionti’in Wh1(~iI thr~
Board of Supetviso~:s ~Orange County is reqi~ireJ~by iaw,~c
the amotnt of taxes requires by law for county pu~pose~,to furnish
to said Boai~d of Supe~v±sc’rs,a written statement cf t~e a~uunt
necessary to pay the Interest on 3aid bonds for that ye~r~r and such
portion of the prIncipal thereof as is to become due bo~cre the time
for making the next geueral tax levy and the said Board of Super
visors,in accorda~ice with the duty imposed upon them by the pro
visions of said County Sanitation District Act,shall arLnualiy at
the time and in the manner of levying other county taxes,levy and
cause to be ccllected,a tax upon the taxable real property in said
County Sanitation District No,3 of Orange County,based upon the
last equalized assessment roil of said County,sufficient to pay the
interest on said bonds for that year and such portion of the principal
thereof as ic 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 Orar~e 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.726-3 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 said Board held on the 14th day of October,1959.
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Seereta~:y,B3ard of Directors of
County Sanitation DIstrIct No.3
Orange County,California
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STATE OF CALIFORNIA)
)SS
COUNTY OF ORANGE )
I,ORA MAE NERRITT,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.726-3
was regularly passed and adopted at a regular meeting of said Board
on the 14th day of October,1959,by the following roll call vote,
to wit:
AYES:Directors Howard M.Cornwell,Thomas Baroldi,
Herbert Cook,John R,Dunham,Paul C~Furman,
Earl L Irby,Jim Kanno,W.A.MacKinnOn,John W.
Stecko,Frank J.Schweitzer,Jr.,Walter W.Walker
and Willis H.Warner
Directors None
ABSENT:Director Glenn G.Fry
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 14th day of October,1959.
-
cliZi cv~
~
Secretary,Board of Directors of
Cotinty Sanitation District No.3
Orange County,California
NOES:
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