2933CITY OF ANAHEIM.
ORDINANCE NO. 2933
ORDINANCE OF THE CITY COUNCIL OF THE
CITY OF ANAHEIM, CALIFORNIA, PROVIDING
FOR PROCEDURES FOR ISSUANCE OF WATER
REVENUE BONDS OF SAID CITY.
WHEREAS, the City of Anaheim is a City organized
and existing under a Charter duly and regularly adopted
pursuant to the provisions,of the Constitution of. the State
of California; and
WHEREAS, pursuant to Section 1210 of said Charter,
the City of Anaheim acting by and through its City Council,
is authorized to issue, on behalf of said City, revenue bonrs
for water purposes; and
WHEREAS, said Section 1210, Revenue Bonds, of said
City Charter, states as follows:
"Bonds which are payable only out of such
revenues as may be specified in such bonds may
be issued when the City Council by ordinance
shall have established a procedure for the
issuance of such bonds. Such bonds, payable
only out of revenues, shall not constitute an
indebtedness or General obligation of the City.
No such bonds payable out of revenues shall
be issued without the assent of a majority
of the voters voting upon the proposition
for issuing the same at an election at which
such proposition shall have been duly submitted
to the qualified electors of the City.
"It -shall be competent for the City to
make contracts and covenants for the benefit
of the holders of any such bonds payable only
from revenues and which shall not constitute
a general obligation of the Cite for the
establishment of a fund or funds, for the
maintaining of adequate rates or charges,
for restrictions upon further indebtedness
payable out of the same fund or revenues, for
restrictions upon transfer out of such fund,
and other appropriate covenants. Money placed
in any such special fund for the payment of
principal and/or interest on any issue of
such bonds or to assure the application thereof
to a specific purpose shall not be expended
for any other purpose whatever except for
the purpose for which such special fund was
established and shall be deemed segregated
from all other funds of the City and reserved
exclusively for the purpose for which such
special fund was established until the purpose
of its establishment shall have been fully
accomplished."
WHEREAS, pursuant to said Section 1210 of said
Charter, and Ordinance No. 254 of the City Council'of
the City of Anaheim, a special municipal election was held
in said City on November 5, 1968 for the purpose of submitt-
ing to the qualified voters of said City the proposition'
of issuing water revenue bonds in the amount of $2,000,000,
pursuant to the provisions of said Section 1210, for the
following purposes, to wit:
"To acquire, construct and finance additions
to and improvements of the works of the City for
supplying the City and its inhabitants with water,
shall the City of Anaheim issue water revenue bonds
in the principal amount of two million dollars?"
WHEREAS, said proposition was approved by the votes
of more than a majority of all the voters voting on said
proposition at said special municipal election; and
WHEREAS, the City Council of the City of Anaheim,
acting under and pursuant to the powers reserved to the
City under Sections 6 and 8 of Article XI of the Constitution
of the State of California and said Section 1210 of the
Charter of the City of Anaheim, finds that the public
interest and necessity require the establishment by this
procedural ordinance of procedures for the issuance and
sale of water revenue bonds for certain purposes.
2.
NOW, THEREFORE, THE COUNCIL OF THE CITY OF
ANAHEIM DOES ORDAIN AS FOLLOWS:
Section 1. The City Council, exercising the
powers reserved to the City under Sections 6 and 8 of
Article XI of the Constitution of the State of California
and Section 1210 of the Charter of the City, may when
the public interest and necessity require, by resolution
or resolutions, issue and sell water revenue bonds to
provide funds for the acquisition, construction, improve-
ment or financing of improvements, building system, plant,
works, facilities, or undertaking, for the following purpose:
the obtaining, conserving, treating and supplying of water
for domestic use, irrigation, sanitation, industrial use,
fire protection, recreation, or any other public or private
uses, including all appurtenances to any of the foregoing.
Section 2. The procedure for the issuance and
sale of revenue 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
exception hereinafter stated, the provisions of said Law
are incorporated herein; (a) provided, however, that no
election to authorize'the issuance of said bonds other
than that election required by Section 1210 of the City
Charter shall be held, and to that end Sections 54380
through 54387 of said Government Code are not incorporated
herein and shall not be applicable to the issuance of said
revenue bonds; (b) and, provided, however, notwithstanding
any provision contained in said Revenue Bond Law of 1941,
the City Council may issue and sell the bonds in such
manner as it may determine, either by private sale, or by
3.
means of competitive bid, and to that end, such sections
of the Revenue Bond Act, specifically including Sections
54388, 54403 and 54418, which shall be inconsistent with
such provision are not incorporated herein and shall not
be applicable to the issuance of said revenue bonds; provided
that regardless of the maximum coupon rate of interest
recited in the ordinance calling the election, said bonds
may be issued at a discount not to exceed 6% of the par
value of said bonds; (c) and, provided, however, that not-
withstanding anything contained in said Revenue Bond Act
of 1941, specifically including Section 54402 interest on
said bonds shall be payable for such periods and in such
increments as the City Council shall by resolution identify;
(d) and, provided, however, notwithstanding anything contained.
in said Revenue Bond Act of 1941, said enterprise shall
continue in operation in accordance with provisions in the
Charter of the City of Anaheim, and procedures therefor
adopted pursuant to said Charter and pursuant to such provi-
sion as shall be made for said operation in the future, so
long as said provision shall be consistent with terms, condi-
tions and covenants contained in the resolution providing for
issuance of said bonds; (e) and, provided that Section 54310
of said Revenue Bond Act of 1941 shall not be applicable to
the issuance of said revenue bonds.
Section 3. The provisions of this procedural
ordinance shall be liberally construed.
Section 4. The City Clerk shall certify to the
passage of this ordinance by the City Council of the City
of Anaheim and shall cause the same to be published accord-
ing to law. This ordinance shall take effect thirty (30)
days after its final passage and adoption.
4.
PASSED, APPROVED AND ADOPTED by the City Council
of the City of Anaheim at a regular meeting of said Council
held on the 1st day of .lune , 1971.
M�YPr of the it -of Anaheim
t
ATTEST:
City Clerk of the City -of Anaheim
(SEAL)
5.
STATE OF CALIFORNIA
COUNTY OF ORANGE ss.
CITY OF ANAHEIM
I, DENE M. DAOUST, , City Clerk of
the City of Anaheim Callfornia, DO HEREBY
CERTIFY that the' orego ng or finance was introduced at a
regular meeting of the City Council
duly Fe -on tom` 25th day of May , 19
and thereafter at a regular meeting 01,
said City Council duly hela on tFie 1st 3ay of June ,
19 71, was duly passed and adopted Ey said City Council
and signed and approved by the Mayor of said City, and that
said ordinance was passed and adopted by the following vote,
to wit:
AYES: Councilmen Stephenson, Pebley, Thom and Dutton
NOES: Councilmen None
ABSENT: Councilmen Roth
(SEAL)
City Clerk of the City of
Anaheim
STATE OF CALIFORNIA
COUNTY OF ORANGE ss.
CITY OF ANAHEIM
I, DENE M. DAOUST , City Clerk of
the City of. Anaheim a ornia, DO HEREBY
CER'T'IFY that the a ove an oregoing is a full, true and
correct copy of Ordinance No. 2933 of said city and
that said ordinance was adopted at t e time and by the
vote stated on the certificate attached thereto, and has
not been amended or repealed.
DATED: June 2 , 19 12--.
( SEAL)
City Clerk o e ty o
Anaheim
I, DENE M. DAOUST, City Clerk of the City of Anaheim, do hereby
certify that the foregoing is the -original Ordinance No. 2933 and was
published once in the Anaheim Bulletin on the 11th day of June, 1971.
I'_
City Clerk