69R-363
RESOLUTION NO. 69R- 363
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF ANAHEIM PROVIDING FOR THE
ISSUANCE OF A NEGOTIABLE NOTE IN THE
AMOUNT OF $636,000.
WHEREAS, funds are needed to meet the immediate requirements
of the City of Anaheim, including but not limited to the payment of current
expenses, capital expenditures, and the discharge of any obligation or
indebtedness of said City; and
WHERAS, the City may borrow for said purposes, such indebtedness
to be represented by a note or notes issued to the leander pursuant to
Article 7.6, Chapter 4, Part 1, Division 2, Title 5, of the Government
Code of the State of California; and
WHEREAS, the Bank of America, NTSA
lend the sum of $636,000 at an interest rate of
negotiable note to be made payable on or before
to date of payment;
has offered to
6% per annum, upon a
June 30, 1970, with interest
NOW, THEREFORE, the City Counci 1 of the City of Anaheim, California,
DOES HEREBY RESOLVE, DETERMINE AND ORDER AS follows:
Section 1. This Counci 1 finds that it is necessary for the City
to issue a negotiable note in the amount of $636,000 in order to meet the
immediate requirements of said City.
Section 2. The taxes, income, revenue, cash receipts and other
moneys to be received by said City during the current fiscal year are
estimated to be $372,418.74. The amount of the note hereby authorized to
be issued, together with other notes outstanding, if any, does not exceed
85% of the uncollected portion of said moneys.
Section 3. Said note shal I be dated as of the date of delivery,
shall be in the denomination of $636,000, shall be paid on or before
June 30, 1970, and shall bear interest at the rate of 6% per annum, pay-
able at the maturity thereof. The right shall be reserved to said City to
pay all or any part of said note prior to maturity, in which event the
interest due to date on the amount so paid shall be paid along with such
payment of principal, and interest shall cease on the amount of principal
so paid. No notice need be given prior to the exercise of such right by
the City.
Section 4. Both the principal of and the interest on said note
shal I be payable in lawful money of the United States of America at the
office of the City Treasurer in the City of Anaheim, State of Cal ifornia.
Section 5. Said note shall be payable from taxes, income, revenue,
cash receipts or other moneys of the City of Anaheim to be received during
the fiscal year 1969-70, said moneys being hereby pledged to repay said
note; provided, however, that if said moneys or any portion thereof when
received by the City wi 11 be encumbered for a special purpose other than
the repayment of said note, then pursuant to Section 53856 of the
Government Code an equivalent amount of the proceeds of said note shall
be set aside and used for said special purpose; and provided, further, that
said note with interest thereon may be paid from any other moneys of the
City lawfully avai lable therefor.
Section 6. Said note shall be signed by the Mayor and the City
Treasurer, and countersigned by the City Clerk, and shall be in substantially
the fol lowing form:
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CITY OF ANAHE I M
No. 1
NEGOTIABLE NOTE
FOR VALUE RECEIVED, the City of Anaheim, Ca1ifornia, a municipal
corporation, promises to pay to the Bank of America, NTSA
on order, on or before June 30, 1970, the sum of Six Hundred thHty-six
Thousand Dollars ($636,000) with interest thereon, payable at the maturity
thereof, at the rate of 6% per annum from the date hereof. Both principa1
and interest are payable in lawful money of the United States of America
at the office of the City Treasurer in the City of Anaheim, State of
California. The right is reserved to said City to pay all or any part of
this note prior to maturity, in which event the interest due to date on the
amount so paid shall be paid along with such payment of principal, and
interest shall cease on the amount of principal so paid. No notice need be
given prior to the exercise of such right by the City.
The principal of and the interest on this note are payable from
taxes, income, revenue, cash receipts or other moneys of the City of Anaheim
to be received during the fiscal year 1969-70, said moneys being pledged
for the payment of this note and the interest hereon. Notwithstanding said
pledge, this note is a general obI igation of the City and, to the extent
not paid from said moneys, shall be paid with interest hereon from any other
moneys of the City lawfully availab1e therefor.
IT IS HEREBY CERTIFIED, RECITED AND DECLARED that all acts, conditions
and things required by law to exist, happen and be performed precedent to and
in the issurance of this note have existed, happened and been performed in
due time, form and manner as required by' law, and that the amount of this
note, together with all other indebtedness of the City, does not exceed any
debt limit prescribed by the laws or Constituation of the State of California.
IN WITNESS WHEREOF, said City of Anaheim has caused this note to
be signed by the Mayor and the City Treasurer of said City and countersigned
by the City Clerk of said City and sealed with the corporate seal of said
City, and has caused this note to be dated the day of July, 1969.
MAYOR OF THE CITY OF ANAHEIM
COUNTERSIGNED:
CITY TREASURER OF THE CITY OF ANAHEIM
CITY CLERK OF THE CITY OF ANAHEIM
( SEAL)
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Section 7. This City Council hereby finds and determines that
it is necessary and desirable that the City borrow from the Bank of
America the sum of $636,000, such indebtedness to be represented by the
negotiable note authorized hereby. The Mayor and the City Treasurer are
authorized to sign said note and the City Clerk is authorized to countersign
said note and to date and seal said note on the date of delivery thereof.
Said note shall be issued according to the terms and substantially in the form
provided in this resolution.
Section 8. This resolution shall constitute acceptance of the
offer of the Bank of America, NTSA, above referred to.
THE FOREGOING RESOLUTION is approved and signed by me this 24th
day of June , 1969.
ATTEST:
i ~ ~ )- .
. ~ . J/.:..-:dL~->.r<<,~
CI Y CLERK OF THE CITY OF ANAHEIM
STATE OF CALIFORNIA
COUNTY OF ORANGE
CITY OF ANAHEIM
)
) ss.
)
I, DENE M. wrUIAMS, City Clerk of the City of Anaheim, do
hereby certify that the foregoing Resolution No. 69R-363 was intro-
duced and adopted at a regular meeting provided by law, of the City
Council of the City of Anaheim, held on the 24th day of June, 1969,
by the fOllowing vote of the members thereof:
AYES: COUNCILMBi : Dutton, Krein, SChutte, Pebley and Clark
~: OOUNCILMEN : None
ABSENT : OOUNCI~: None
AND I FURTHER CERTIFY that the Mayor of the City of Anaheim
approved and signed said Resolution No. 69R-363 on the 24th day of June,
1969.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed
the official seal of the City of Anaheim this 24th day of June, 1969.
/; <>): 2td~~
~LEiIK OF THE CITY OF AllAHEIII
(SEAL)
I, DENE M. WILLIAMS, City Clerk of the City of Anaheim, do
hereby certify that the fo~egoing is the original of Resolution No.
69R-363 duly passed and adopted the Anaheim City Council on June
24, 1969. '')( 11-_
, , :J
!:/ ..a
City Clerk
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