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2780ORDINANCE NO. 2780 AN ORDINANCE OF THE CITY OF ANAHEIM, CALIFORNIA, ORDERING, CALLING, PROVID- ING FOR AND GIVING NOTICE OF A SPECIAL MUNICIPAL ELECTION TO BE HELD IN SAID CITY ON APRIL 14, 1970, FOR THE PURPOSE OF SUBMITTING TO THE QUALIFIED VOTERS OF SAID CITY A PROPOSITION TO AUTHORIZE THE ISSUANCE OF ELECTRIC REVENUE BONDS AND CONSOLIDATING SAID ELECTION WITH THE GENERAL MUNICIPAL ELECTION TO BE HELD ON SAID DATE. WHEREAS, the Charter of the City, in Section 1210 thereof, provides 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 propo- sition for issuing the same at an election at which such proposition shall have been duly sub- mitted to the qualified electors of the City. i°It shall be competent for the City to make con- tracts 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 City 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 appro- priate 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." NOW, THEREFORE, the City Council of the City of Anaheim, California, DOES ORDAIN as follows: Section 1. That a special municipal election be held and the same is hereby called to be held in said City on April 14, 1970, for the purpose of submitting to the qualified voters of said City pursuant to said Charter Section 1210, quoted in the recitals hereof, the propo- sition hereinafter set forth of issuing electric revenue bonds of said City in the principal amount stated in the ballot proposition hereinafter set forth and for the object and purpose set forth in said ballot proposition. Section 2. That the estimated cost of the acquisition, construction and financing described in said ballot proposition is the sum of $8,650,000. The esti- mated cost includes all engineering, inspection, legal or other fees incidental to our connected with the authoriza- tion, issuance and sale of the bonds, and the costs of printing the bonds and other costs and expenses incidental to or connected with the authorization, issuance and sale of the bonds. Section 3. The the maximum rate of interest to be paid on said indebtedness shall not exceed seven and one-half per cent (7,7.) per annum, the actual rate or rates of interest on said bonds to be determined at or prior to the time of the sale or sales thereof. Said interest shall be payable semiannually except that interest for the first year may be made payable at the end of said year. PM Section 4. That the manner of holding said elec- tion (including, without limitation, the time when the polls shall remain open) shall be the manner provided by law for the holding of the general municipal election to be held in said City on April 14, 1970, and the procedure for voting for or against said proposition and for count- ing said votes shall be the procedure provided by law in said City for voting upon measures at said general municipal election. Section 5. That on the ballots to be used at said special election, in addition to any other matters required by law, there shall be printed substantially the following: PROPOSITION E (ELECTRIC REVENUE : : BONDS): To acquire, construct and : YES : finance additions to and improve- : ments of the works of the City for : supplying the City and its inhabit- : ants with electric energy, shall : the City of Anaheim issue electric : revenue bonds in the principal : NO : amount of eight million six hundred : . : fifty thousand dollars? . Section 6. That, if the proposition so submitted receives the requisite number of votes, to wit, a majority of the votes of the qualified electors voting on such proposition, electric revenue bonds of said city, in not exceeding the principal amount stated in such proposition, may be issued and sold for the object and purpose set forth in such proposition pursuant to said Section 1210 of the Charter of the City and pursuant to an ordinance which shall establish a procedure for the issuance of such bonds. 3. Section 7. That the special municipal election hereby called shall be and is hereby ordered consolidated with the general municipal election to be held in said city on said date and such elections shall be held in all respects as if there were only one election and only one form of ballot shall be used thereat. The precincts, polling places and officers of election for this special municipal election shall be the same as those provided for said general municipal election and are set forth in the resolution providing for said general municipal election, to wit: Resolution No. 70R-72 adopted February 3 , 19 70 Section 8. That except as otherwise provided in this ordinance, the election called hereby shall be con- ducted as provided by law for other municipal elections in said city. 4. Section 9. That the City Clerk shall cause this ordinance to be published, within 15 days after its adoption, in The Bulletin, a newspaper published at least 6 days a week in the City. The City Clerk shall also publish in said newspaper the notice entitled "Measure To Be Voted On" in substantially the form and manner set forth in Elections Code Section 22835 once a week for 2 successive weeks. In such notice the synopsis of the measure to be voted on shall be the ballot proposition hereinbefore set forth. Section 10. This ordinance shall take effect upon its passage. ADOPTED, SIGNED AND APPROVED this 10th day of February , 1970. ATTEST: Cit Clerk of the City of Anaheim, California. (SEAL) �-` Mayo of the City of Anaheim, California. 5. STATE OF CALIFORNIA COUNTY OF ORANGE ss. CITY OF ANAHEIM I, Dene M. Williams , City Clerk of the City of An , a orn a, DO HEREBY CERTIFY that the roregoing or inance was introduced and read at a ---- regular meeting of the City Council duly held on the 3rd day of �FFgebbrr 19 70a and thereafter at a ----- regular mee ng of said City Council d—uTy held on e _1 tth�h day of , 19 70, was reread, duly passed and a�opTed by sald City Council and signed and approved by the Mayor of said city, and that said ordinance was passed and adopted by a vote of more than two-thirds of the members of said City Council, to wit: (SEAL) AYES: Councilmen Dutton, Krein, Schutte, Pebley and Clark NOES: Councilmen None ABSENT: Councilmen None City Clerk or the City o Anaheim, California. I, Dene M. Williams, City Clerk of the City of Anaheim, do hereby certify that the foregoing is the original of Ordinance No. 2780, duly passed and adopted by the Anaheim City Council on February 10, 1970, and was published twice in the Anaheim Bulletin on February 13 and 20, 1970. r City Clerk