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 Calexico
 Code of Ordinances
 Title 3. REVENUE AND FINANCE
 Chapter 3.04. MUNICIPAL BONDS

§ 3.04.010. Form of bonds.  

Latest version.

  • Except as otherwise expressly provided, all bonds of the city, issued under the provisions of that act of the legislature of the state of California, entitled, "An act authorizing the incurring of indebtedness by cities, towns, and municipal corporations for municipal improvements, and regulating the acquisition, construction, or completion thereof," which became a law February 25, 1901, and amendments thereof, shall be substantially in the following form:

    "UNITED STATES OF AMERICA
    STATE OF CALIFORNIA
    CITY OF CALEXICO
    _____ Bond
    Election 20___

    Series _____(if any)       Class ___(if any)

    Calexico, California

    _____, 20___(date)

    On the _____ day of _____, A.D._____, (year of maturity) the City of Calexico, California will pay to the bearer at the office of the Finance Director/City Treasurer of the City of Calexico, in Calexico, California, or at any fiscal agency of the City of Calexico in the City of New York, New York, upon presentation and surrender of this bond, the sum of One Thousand Dollars (1,000) with interest thereon at the rate of _____ per centum per annum, payable semiannually, on the _____ day of _____, and the _____ day of _____, at the office of the Finance Director/City Treasurer of the City of Calexico, in Calexico, California or at any fiscal agency of the City of Calexico in the City of New York, New York, upon presentation and surrender of the interest coupons hereto attached; principal and interest payable in lawful money of the United States. This bond is issued in pursuance of, and in full compliance with the provisions of the Act of the Legislature of the State of California, which became a law February 25, 1901, and amendments thereof, authorizing the incurring of indebtedness by cities for municipal improvements, and the Constitution and laws of the said state.

    It is further certified that all requirements of the Constitution and laws of the State of California and of the Ordinances of the City of Calexico have been fully complied with by the proper officers in the issuance of this bond; that this issue of bonds has been authorized by vote of two-thirds of the duly qualified electors of said City voting on the question of such issue at a special election duly and regularly called and held in said City on the _____ day of _____, 20___; that provision has been made for the collection of an annual tax sufficient to pay the interest on said issue of bonds including this bond, as said interest falls due, and also provision to constitute a sinking fund for the payment of the principal thereof; and that the total amount of this issue, together with all other indebtedness of said City, does not exceed the limit prescribed by the Constitution and laws of the State of California.

    ___________
    MAYOR OF THE
    CITY OF CALEXICO

    Countersigned: _____

    FINANCE DIRECTOR/
    CITY TREASURER
    OF THE
    CITY OF CALEXICO

    ___________
    City Clerk of the City of Calexico."

    (Prior code §§ 1611, 1611.1)

(Ord. No. 1145, § 1(P), 10-2-2012)