HomeMy WebLinkAboutReso 1935-406 • Resolution No. 406 . ' , . . .
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t' - RPs40LIITI0N N0: 408 ' • '.
- OF THE CITY COIINCII. �OF.�' CITY OF CHQLA VISTA� CAI,ZgpHTTig�.
. PR09IDING FOR TEiS JUIII's 1 1935 SSdII-ANNQAL PgYMENT OF IN'FIIi�.
� ffiT IN 'I�S AMOIINT OF.$ET40.00 ON BOND9 OF 4� CI'IR OF CHQLA
- PISTA� CALIFORNIA,- IN TI� dMDIINT OF $107�000.00 'DATED DSCSE�
BF�t ! 1934. '
� VPHF�2EA3, the City oP Chula Vista, •CaliPoraia,, incurred a boaded �
iadebtednees�se oP Dea�ber 1 1934 in the mmouat of $107,000, the flret
intereat date oa nhich bonda. is Jime 1 1938, and the total �ount of eaid
interest being ia the emount oP $$140.00; and � ."
flH�REA9� eaid bonded ladebtedneee wae incurred after the taz levy and
' the budget for the current �iiacai year had been made; and accordingly no
provieioa �de therein for the�p�ment oP eaid June 1 1935 intereat; aad •
��ReS, iateeet had accrued on eaid bonde at the time of the sale
thereoP in the emoimt of $887:89 and wae paid togethe� with the per value .
of eaid bonds; Yiather, that there hae Deen received fram the Bank of America
N.T. 8c S. Asen. the sum of �812.93 ae iaterest_on eaid priacipal and accrued - -
latereat of eaid bonde; both-of,xhich intereat e�s heve been placed in the
Intereet aad 3lnking Fpnd Aocount o2 the Ciiy; and �
WHER&AS, there Sa a 'euYficieat s� in .the general fnnd of ths�City � :
to make up tt�e dllference between said 'totale of accri�ed iatereet and the �
amount_oP intereet due on said bonde ae oP June 1 1935; �
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AOW,' THSREFORS� SS IT RFsSOLVED HY '1ffi: CITY COIINCII. OF '1'� CITY OF CHIILA
• 9ISTA�' C6LIP'ORIQIA: .
�at the.Treaaurer of the City of Chula Vieta,. Californis� 'be and he
ia Lereby autharl2ed and directed to Lranefer fr� the geaeral fund �EO the
said Intereet and Sinklag Fund Account the eum of $859.28; 'that upoa due
preeentation of the 7une 1 1938 interest coupone of said Doada asid
Treaeurer be, and he is heraby, directed to pay Prom eaid-intereet enfl
einking' fund account the aPorementioned e� of $2140.00 in payment oi the
eaid intereat upoa eaid bonde,.;as called for therein; , .
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% AND BE FP F[JR�fi RFSOLVED, tLat" th3e Coun¢il ehall at.ite meeting held'for
the purpoae oP levying the taa foi the nezt fieoal' year and for setting up
a budget provide for,the procurement of funde bq taa eufficient to reimbiase
the �oimt heraby authorized and dreated to be withdrawn from said Geaeral
l�nd, the amount aecured fram t�e Bank of America N.T. & S. Aaefi., ae accrued
intereat� and tha emouat of Aocrued� Intereat realteQ at the" time of the eaid
� eale oY eaid boade, or any oP them ae may be proper ia the premiaee. _
PASSSD AND ADOPTED by the City Council of the City oP Chula Viata, -
California, thls 28th d�yy.of B9aq 1935 'by the Yollowing vote, to-w1t:
- . ' ' ' . ' A�S: . CO�CII.b4'N Itiyona, B�9z; Rifa, end Hawe.
, - � NAYS: - COIINCII.�iT- None:
' • ABSIIS�T'T: COWCII.�N: Browa. � � -
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- (G.°H. RiPe)
' : - ' � . _ M�yor oP Lhe Cit9 of �ula Vieta', CaliPornia
Atteat: y/�/��� � - , �
�\AI�WiVbLI/1M,¢L�(� . .
(O.S. Ti�one) � - -
City Clerk of the City of Chula .
Viata; CaliPornis: � ' � '