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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 -1— 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 -2- 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 -3- 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: -4- 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. —5— 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. ~v2~ Seereta~:y,B3ard of Directors of County Sanitation DIstrIct No.3 Orange County,California -6- 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: —7—