1938 (#2547-2611) - Laserfiche WebLink

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It is further resolwed and ordered that a note of the City of Santa Ana shall be issued pursuant to Section 3Vl~ of the Political Code of the State of California, and shall be executed by the Mayor mud countersigned by the City Auditor as the Chief Accounting Officer, and by the Treasurer of said City, and the same shall be and is hereby sold to the Bankamerica Company at the price set forth in its bid, to-wit: par value and accrued interest to date of delivery, plus a premium of $13.00, which said note shall bear interest ~ the rate of two (2%) per cent per annum of the face or par value of $50,000.00, and shall be dated as of the day of delivery, and shall be payable to bearer on or before December 31, 1938, but not prior to December 24, 1938, and said interest shall be computed on the basis of 365 days per year, and shall be paid on or before maturity of said note, which said note shall be in words and figures substantially as follows: CITY OF SANTA ANA OF ORANGE COUNTY, CALIFORNIA TAX ANTICIPATION NOTE FISCAL YEAR 1938-39. No. 1 $ 50,000.00 Santa Ana, California, October 4, 1938. On or before the 31st day of December, 1938, but not prior to December 24, 1938, the City of Santa Ana of Orange County, State of California, a municipal corporation duly orgauized and existing under and by virtue of the laws of the State of California, promises to pay to the bearer hereof, out of the funds herein after mentioned, at the office of the City Treasurer of said City of Santa Ana, the sum of fifty thousand dollars ($50,000.00) in lawful money of the United State of America, together with interest thereon at the rate of two per cent (2%) per annum from date hereof until paid, to be computed on the basis of 365 days per yea: This Note is authorized to be issued under and pursuant to a resolution of the City Council of said City of Santa Ana adopted under the authority of Section 3V19 of the Political Code of the State of California. This Note is payable exclusively out of taxes levied by said City fo~.the fiscal year 1938-39 and this Note issued and delivered under the a~thority of said resolution shall constitute a first llen and charge against the shid taxes levied by said City of Santa Aha for the said fiscal year 19~8-39 and the principal and interest of this Note shall be paid from the first moneys received by said City from said taxes. It is hereby certified, recited and declared that this Note is issued in strict conformity with the Constitution and laws of the State of California and th~ proceedings of the City of Santa Ana authorizing the same, and that all acts, conditions and t~ings required to exist, hsppen and be performed precedent to and in the issuance of this Note have existed, happened and been performed in regular and due time, fore and manner, as required by law, and that this Note, together with all other indebted_ness and obligations of said City, does not exceed any limit prescribed by the Constitution or statutes of said State. IN WITNESS WHEREOF, the City of Santa Ana has caused this Note to be signed on its behalf by the Mayor and countersigned by the City Auditor as the Chief Accounting Officer and by the Treasurer of said City and the seal of said City to be affixed hereto the day and year first above written.