4158ORDINANCE NO. 4158
AN ORDINANCE OF THE CITY OF ANAHEIM,
CALIFORNIA, AMENDING ORDINANCE NO. 2980
OF SAID CITY, RELATING TO ELECTRIC
REVENUE BONDS
WHEREAS, the City Council of the City of Anaheim,
acting under and pursuant to the powers reserved to the
City under Section 5 of Article XI of the Constitution of
the State of California and pursuant to Section 1210 of the
Charter of the City of Anaheim, heretofore adopted Ordinance
No. 2980 entitled "An Ordinance of the City Council of the
City of Anaheim, California, Providing for Procedures for
the Authorization, Issuance and Sale of Electric Revenue
Bonds of Said City and Ordering, Calling, Providing for
and Giving Notice of a Special Election to be held in said
City on January 18, 1972, for the Purpose of Submitting
to the Qualified Voters of Said City a Proposition of
Issuance of Electric Revenue Bonds", and
WHEREAS, this City Council deems it necessary
to amend those portions of Ordinance No. 2980 which
establish procedures for the issuance of electric revenue
bonds;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY
OF ANAHEIM DOES ORDAIN AS FOLLOWS:
Section 1. Sections 1 and 2 of Ordinance No. 2980
are amended to read as follows:
"SECTION 1. That the City Council, exercising
the powers reserved to the City under Section 5 of
Article XI of the Constitution of the State of California
and pursuant to Section 1210 of the Charter of the City,
may when the public interest and necessity require,
by resolution or resolutions, issue bonds payable
only out of revenues of the electric system of the
City, for such purpose or purposes as shall have been
assented to by a majority of the voters voting upon
the proposition for issuing the same at an election
at which such proposition shall have been duly sub-
mitted to the qualified electors of the City.
"SECTION 2. That the procedure for the issuance
of such bonds shall be the procedure set forth in the
Revenue -Bond Law of 1941 (commencing with Government
Code Section 54300), and by this reference, with the
exceptions hereinafter stated, the provisions of said
Law are incorporated herein; provided, however, that
(a) No election to authorize the issuance
of said bonds other than that election required
by the City Charter shall be held, and to that
end Sections 54380 to 54387 of said Government
Code are not incorporated herein and shall not be
applicable to the issuance of said bonds;
(b) The restrictions of Government Code
Section 54310 shall not apply, and to that end
said Section 54310 is not incorporated herein;
(c) The City Council may sell such bonds
in such manner as it may determine, either by
private sale, or by means of competitive bid,
and to that end Government Code Section 54388
is not incorporated herein;
(d) Regardless of any maximum coupon rate
of interest specified in any ordinance or resolution
calling a revenue bond election pursuant to
2.
Section 1210 of the City Charter, said bonds
may be sold at a discount not to exceed ten
percent (10%) of the par value of said bonds,
and to that end Government Code Section 54418
is not incorporated herein; and
(e) The bonds shall bear interest at such
rates, payable at such times, as the City Council
may determine, notwithstanding any restriction
contained in Government Code Section 54402."
Section 2. That the City Clerk shall cause this
Ordinance to be published once, within fifteen days after
its adoption, in The Anaheim Bulletin, the official newspaper
of the City.
Section 3. This Ordinance shall become effective
thirty days from and after the date of adoption.
ADOPTED, SIGNED AND APPROVED this 9th day of September,
1980.
Mayor/of the City of Anaheim
Pro Tem
(SEAL)
ATTEST:
City Clerk •f the City of Anaheim
3.
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF ANAHEIM )
I, LINDA D. ROBERTS, City Clerk of the City of Anaheim, do hereby certify
that the foregoing Ordinance No. 4158 was introduced at a regular meeting
of the City Council of the City of Anaheim, held on the 2nd day of September,
1980, and that the same was duly passed and adopted at a regular meeting
of said City Council held on the 9th day of September, 1980, by the following
vote of the members thereof:
AYES: COUNCIL MEMBERS: Kaywood, Bay, Roth and Overholt
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: Seymour
AND I FURTHER CERTIFY that the Mayor Pro Tem of the City of Anaheim signed
said Ordinance No. 4158 on the 9th day of September, 1980.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official
seal of the City of Anaheim this 9th day of September, 1980.
CITY CLERk OF THE CITY ANAHEIM
(SEAL)
I, LINDA D., ROBERTS, City Clerk of the City of Anaheim, do hereby certify
that the foregoing is the original Ordinance No. 4158 and was published
once in the Anaheim Bulletin on the 19th day of September, 1980.
CITY CLEP: