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2/27/2014 1:45:17 PM
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2/20/2014 6:50:07 PM
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General Documents
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jshook
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Ordinances
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voters of said city as in this ordinance and by law provided, <br />then and in that event bends of th? slid city to the amount <br />authcrized shall to iddued and shall bear interest from the <br />date, thereof and at a rite nct exceeding__X-� <br />nQr cent per annuit., payable semi-annually, and the principal aid <br />,.nd interest of said bonds shall be payable in lawful money <br />of the United States of America in the manner following, <br />that is tc say; One-fourtiesth part cf the whole amount cf the <br />I <br />principal cf said indebtedness shall be paid each and every <br />year it the office of the City TreasurPzof the city of Colton, <br />it said city, in the county of Sin Pernirdinc, State cf Oil-- <br />"- ifornia, on 3 day and date to be hereafter fixed in paid bonds, <br />until the whole principal sum has '),Ann paid, that the interest <br />on said bends shall be paid semi-annually it the same place, <br />one of such semi- innually payments in each year being at the <br />date of the payment of the annual installr:ent of the principal <br />of said inde?_todness as aforesaid; and provided further that <br />said indebtedness shall be evidenced by bendsind proper ccupon8 <br />attached thereto, a soparite O6tpon being attached to each <br />bend for each semi-innuil payment of the interest to become <br />due on said bonds; th-.t the tctil indebtedness jut:hcrizrd to be <br />created cr incurred at said P,I/-action shall be rep:reoented by <br />bends payable in the manner aforesaid, and that such bonds shall <br />be issued in such denomination is the Eoird cf Trus,.tees of <br />said city shall determine in iccerdinee with liw, in',d the said <br />brnds shall be knc,vn is"Munioipil Irprcven:nnt' Ecnds:' <br />Section 7. Ir_ case the bonds cf thp city of Colton, <br />�ishall be issued and sold under the proposition for incurring <br />the indebtedness herein submitted to the quilified voters of <br />the said city of Ccltcn, the Board of Trustees cf the slid <br />city sl -all annually, it the time of fixing the general tax <br />levy And in the manner fcr such gener-il tax Dwy rrovided, levy <br />Ind Collect 01ch year until slid bends arra raid, or until <br />'th;re shall be a sum in the treasury of said city amp <br />
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