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Resolution Number 68-10-14-117 RESOLUTION NO. 68-10-14-1 A RESOLUTION OF THE CITY OF SAN JUAN CAPISTRANO, CALIFORNIA, PROVIDING FOR THE ISSUANCE OF MUNICI- PAL IMPROVEMENT BONDS OF SAID CITY IN THE AMOUNT OF $500,000 WHEREAS, pursuant to Ordinance No. 76 of the City of San Juan Capistrano, California, a special municipal election was duly and regularly held in said city on the third day of December, 1963) at which election there was submitted to the qualified voters of said city the following bond proposition, to wit: and BOND PROPOSITION: Shall the City of San Juan Capistrano incur a bonded indebtedness in the principal sum of $1,200,000.00 for the purpose of the acquisition and construction by said city of a certain municipal improvement, to wit: facilities for the transmission, treatment, and disposal of sewage, including all lands, ease- ments, rights of way, machinery, and other property useful and necessary for any of the foregoing? WHEREAS, said proposition received the affirmative vote and assent of more than two-thirds of all of the qualified voters of said city voting on said proposition, and said city is now author- ized to issue bonds in the amount and for the purpose set forth in said proposition: NOW, THEREFORE, the City Council of the City of San Juan Capistrano, California, DOES ORDAIN as follows: Section 1. That bonds of. -the City of San Juan Capistrano, California, in the principal sum of $500,000 be issued and sold for the purpose set forth in the bond proposition in the recitals hereof. Said bonds shall be designated "City of San Juan Capistrano 1964 Sewer Bonds, Series B," shall be one hundred in number, numbered 1 to 100 both inclusive, and shall be of the demonination of $5,000 each. Said bonds shall be dated November 1, 1968, and shall be pay- able in consecutive numerical order, as follows: Years Amount Inclusive Each Year 1969-1973 $15,000 1974-1978 20,000 1979-1982 25,000 1983-1986 30,000 1987-1989 35,000 Said bonds shall bear interest at a rate or rates to be here- after fixed by resolution, but not to exceed six per cent (6%) per annum, payable annually the first year and semiannually thereafter. W Said bonds and the interest thereon shall be payable in lawful money of the United States of America at the Main Office of United California Bank in Los Angeles, California, or at any fiscal agency of the city in San Francisco, California, or Chicago, Illinois, or New York, New York, at the option of the holder thereof. Section 2. That the Mayor and the City Treasurer of said city are hereby authorized and directed to sign all of said bonds by their printed, lithographed or engraved facsimile signatures, and the City Clerk of said city is hereby authorized and directed to countersign said bonds and to affix thereto the corporate seal of said city, and the City Treasurer of said city is hereby authorized and directed to sign the interest coupons of said bonds by his printed, litho- graphed or engraved facsimile signature, and to number said interest coupons of each of said bonds consecutively. Section 3. That the proceeds of the sale of said bonds (except premium, if any, and accrued interest) shall forthwith be turned over to and placed in the municipal treasury of said city to the credit of a fund hereby created and designated "City of San Juan Capistrano 1964 Sewer Bonds, Construction Fund," and the moneys in said fund shall be applied exclusively to the acquisition and construction of the municipal improvement described in the bond pro- position in the recitals hereof, except as provided in Section 43628 of the Government Code. Section 4. That any premium or accrued interest received from the sale of said bonds.shall forthwith be turned over to and placed in said treasury in the interest and redemption fund hereinafter created. That for the purpose of paying the principal and interest of said bonds, the City Council of said city shall at the time of fixing the general tax levy, and annually thereafter until said bonds are paid or until there is a sum in the treasury of said city set apart for that purpose sufficient to meet all payments of principal and interest on said bonds as they become due, levy and collect a tax sufficient to pay the interest on said bonds as it falls due and such part of the principal thereof as will become due before the proceeds of a tax levied at the next general tax levy will be avail- able. Said tax shall be in addition to all other taxes levied for municipal purposes and shall be levied and collected as other city taxes, and shall forthwith be turned over and paid into a fund of 1 the city to be known as "City of San Juan Capistrano 1964 Sewer Bonds, Series B, Interest and Redemption Fund." Said fund shall be used for no other purpose than the payment of said bonds and interest thereon until said bonds and interest are fully paid. Section S. That said bonds and the coupons for the interest thereon shall be issued in substantially the following form: UNITED STATES OF AMERICA STATE OF CALIFORNIA CITY OF SAN JUAN CAPISTRANO CITY OF SAN JUAN CAPISTRANO 1964 SEWER BONDS, SERIES B No. $ The CITY OF SAN JUAN CAPISTRANO, a municipal corporation situated in the County of Orange, State of California, FOR VALUE RECEIVED, hereby acknowledges its indebtedness and promises to pay to the bearer hereof the sum of THOUSAND DOLLARS ($ ) on the day of '19 , with interest thereon at the rate of per cent ( %) per annum, interest for the first year payable at the end of said year and interest thereafter payable semiannually on the first days of May and November of each and every year from the date hereof until this bond is paid, on presentation and surrender of the respective interest coupons hereto attached. Both principal and interest are payable in lawful money of the United States of America at the Main Office of the United California Bank in Los Angeles, California, or at any fiscal agency of the city in San Francisco, California, or Chicago, Illinois, or New York, at the option of the holder thereof. This bond is issued by the City of San Juan Capistrano under and in.pursuance of and in conformity with the Charter of said city and the provisions of Article 1, Chapter 4, Division 4, Title 4 of the Government Code of the State of California, and acts supplementary thereto, and in pursuance of the laws and Constitution of the State of California, and is authorized by a vote of more than two-thirds of all the qualified voters of said City of San Juan Capistrano voting at an election duly and legally called, held and conducted in said city on the 3rd day of December, 1963. 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 issuance of this bond have existed, happened and been performdd in due time, form and manner as required by law, and that the amount of this bond, together with all other indebted- ness of said city, does not exceed any debt limit prescribed by the Charter of said city or the laws or Constitition of the State of California. IN WITNESS WHEREOF, said City of San Juan Capistrano has caused this bond to be signed by the Mayor and the City Treasurer of said city by their facsimile signatures, counter- signed by the City Clerk of said city and sealed with the corporate seal of said city, and the interest coupons hereto attached to be signed by the City Treasurer by his facsimile signature, and has caused this bond to be dated the 1st day of November, 1968. (facsimile si nature) yor o t e ity or ban Juan Capistrano, California 20 COUNTERSIGNED: (facsimile si nature) City reasurer o t ecity o San Juan Capistrano, California City Clerk ot the City of— San Juan Capistrano, California (SEAL) (COUPON FORM) On the 1st day of 19 the CITY OF SAN JUAN CAPISTRANO, California, will pay to the bearer, at the main office of United California Bank in Coupon No. Los Angeles, California, or at any fiscal agency of said city in San Francisco, California, or Chicago, Illinois, or New York, New York, at the option of the holder hereof the sum of $ in lawful money of the United States of America, being the interest then due on its CITY OF SAN JUAN CAPISTRANO No. 1964 SEWER BONDS, SERIES B, Dated November 1, 1968. (Facsimile signature y uit fireasurer o t e it or San Juan Capistrano, California Substantially the following provisions for registration shall be printed on the reverse side of each bond: PROVISIONS FOR REGISTRATION This bond may be registered in the name of any person as the registered owner hereof, either as to principal only or as to both principal and interest, and, if registered in either of said forms, may be changed to registration in the other of said forms or discharged from registration. Each registration, transfer after registra- tion, change of form of registration, or discharge from registration of this bond shall be entered by the City Treasurer in books kept for the purpose and noted by said Treasurer in the registration blank below. Registration as to principal only shall not affect the negotiability by delivery of the coupons pertaining hereto. Upon registration as to both principal and interest, all unmatured coupons pertaining hereto shall be surrendered to the City Treasurer and may be preserved or cancelled in the discretion of said Treasurer. So long as this bond is registered, no trans- fer hereof shall be valid for any purpose unless made by the registered owner and entered and noted as herein provided, and the principal hereof and any redemption premium shall be payable only to the registered owner, or to his order. Interest on this bond, if registered as to both principal W and interest, shall be payable to the person whose name appears upon the registry books as the regis- tered owner hereof at the close of business on the tenth day preceding the interest payment date, or to his order. If this bond is registered as to both principal and interest and its registra- tion is changed to registration as to principal only, or if it is discharged from registration, there shall be attached hereto coupons represent- ing interest hereon to become due thereafter to the date of maturity hereof. In lieu thereof, and upon surrender and cancellation hereof, the City Treasurer may issue in exchange herefor a new bond, with such coupons attached, identical with this bond, except for the previous notations on the registration blank hereon, and except that the signatures on the new bond shall be those of the persons holding the offices at the time of affixing such signatures. The issuance of any such new bond or new coupons shall be at the expense of the registered owner. Each discharge hereof from registration shall be effected by an entry on the registry books, and a notation in the blank below, that this bond is payable to bearer, whereupon this bond shall become an unregistered bearer instrument, negoti- able by delivery as if it had never been regis- tered. Each request for registration, transfer, change or discharge must be in form satisfactory to the City Treasurer and must be made in writing, signed by the registered owner, or by his agent duly authorized in writing, or by the bearer, as the case may be. Date of In Whose Name Manner of Signature of Registration Registered Registration City Treasurer (TO BE INSERTED ON FACE OF BOND) Unless this bond matures on or prior to November 1, 1984, it is redeemable prior to maturity in accordance with the provisions for redemption endorsed hereon. (REVERSE OF COUPON) If the bond to which this coupon is attached is redeemable and is duly called for redemption on a date prior to the maturity date of this coupon, this coupon will be void. (REVERSE OF BOND) PROVISIONS FOR REDEMPTION Unless this bond matures on or prior to November 1, 1984, it is redeemable in the manner and subject to the terms and provisions, and with the effect, set forth in Resolution No. (adopted by the City Council of said city on October 14, 1968) at the option of said City Council on November 1, 1984, or on any interest payment date thereafter prior to maturity, upon at least thirty (30) days' prior notice in a financial newspaper or journal of national circulation, published in the City and 22 State of New York, at a redemption price equal to the principal amount hereof, plus the following premiums if redeemed at the following times: REDEMPTION DATES Calendar Year Premium ot Call 1984 4% 1985 3% 1986 2% 1987 1% 1988 2 1989 None Section 6. The bonds maturing on or prior to November 1, 1984, shall not be subject to call or redemption prior to maturity. The bonds maturing on or after November 1, 1985 or any of them, may be called before maturity and redeemed at the option of the City Council of said city on November 1, 1984 or on any interest payment date thereafter prior to maturity, at a redemption price for each redeemable bond equal to the principal amount thereof, plus the following premiums if redeemed at the following times: REDEMPTION DATES Calendar Year Premium of Call 1984 4% 1985 3% 1986 2% 1987 1% 1988 2% 1989 None All or any of the bonds subject to call may be called for redempt- ion at any one time. If less than all of the bonds are redeemed at any one time, such bonds shall be redeemed only in inverse order of maturity and number beginning with the highest numbered bond. The interest payment date on which bonds which are called are to be presented for redemption is hereinafter sometimes called the "redemption date." Section 7. Notice of the intended redemption shall be pub- lished by one (1) publication in a financial newspaper or journal of national circulation, published in the City and State of New York, said publication to be at least thirty (30) days but not more than sixty (60) days prior to the redemption date. The notice of redemp- tion shall (a) state the redemption date; (b) state the redemption price; (c) state the numbers and dates of maturity of the bonds to be redeemed; provided, however, that whenever any call includes all 23 of the bonds of a maturity, the numbers of such maturity need not be stated; (d) require that such bonds be surrendered with all inter- est coupons maturing subsequent to the redemption date at the main office of the United California Bank, Los Angeles, California, or at any fiscal agency of the city in San Francisco, California, or Chicago, Illinois, or New York, New York; (e) require that bonds which at the time of call are registered so as to be payable other than to bearer shall be accompanied by appropriate instruments of assignment duly executed in bland; and (f) give notice that further interest on such bonds will not accrue after the designated redemption date. If any of the bonds designated for redemption shall be regis- tered so as to be payable otherwise than to bearer, the City Treasurer shall, on or before the date of the publication of said notice of redemption, mail a similar notice, postage prepaid, to the respective registered owners thereof at the addresses appearing on the bond registry books. The actual receipt by the holder of any bond (hereinafter referred to as "bondholder") of notice of such redemption shall not be a condition precedent to redemption, and failure to receive such notice shall not affect the validity of the proceedings for the redemption of such bonds or the cessation of interest on the date fixed for redemption. The notice or notices required by this section shall be given by the City Treasurer. A certificate by said City Treasurer that notice of call and redemption has been given to holders of registered bonds as herein provided shall be conclusive as against all parties, and no bondholder whose registered bond is called for redemption may object thereto or object to the cessation of interest on the redempt- ion date fixed by any claim or showing that he failed to actually receive such notice of call and redemption. Section 8. Prior to the time the City Council determines to call and redeem any of said bonds there shall be established in the treasury of said city a Redemption Fund to be described or known as City of San Juan Capistrano 1964 Sewer Bonds, Series B, Redemption Fund (hereinafter sometimes referred to as "Redemption Fund") and prior to the publication of the notice of a redemption there must be set aside in said Redemption Fund moneys available for the purpose 24 and sufficient to redeem, at the premiums payable as in this resolution provided, the bonds designated in such notice of redempt- ion. Said moneys must be set aside in said fund solely for that purpose and shall be applied on or after the redemption date to pay- ment (principal and premium) for the bonds to be redeemed upon presentation and surrender of such bonds and all interest coupons maturing after the redemption date, and shall be used only for that purpose. Any interest coupons due on or prior to the redemption date shall be paid from the Interest and Redemption Fund provided for herein upon presentation and surrender thereof. Each bond presented must have attached thereto or presented therewith all interest coupons maturing after the redemption date. If after all of the bonds have been redeemed and cancelled or paid and can- celled there are moneys remaining in said Redemption Fund, said moneys shall be transferred to the general fund of said city; pro- vided, however, that if said moneys are part of the proceeds of refunding bonds, said moneys shall be transferred to the fund created for the payment of principal of and interest on such refunding bonds. Section 9. When notice of redemption has been given, substan- tially as provided for herein, and when the amount necessary for the redemption of the bonds called for redemption (principal and premium) is set aside for that purpose in the Redemption Fund, as provided for herein, the bonds designated for redemption shall become due and payable on the date fixed for redemption thereof, and upon presenta- tion and surrender of said bonds and all interest coupons maturing after the redemption date, at the place specified in the notice of redemption, such bonds shall be redeemed and paid at said redemption price out of the Redemption Fund, and no interest will accrue on such bonds called for redemtpion or on any interest coupons thereof after the redemption date specified in such notice, and the holders of said bonds so called for redemption after such redemption date shall look for the payment of such bonds and the premium thereon only to said Redemption Fund. All bonds redeemed and all interest coupons thereof shall be cancelled forthwith by the City Treasurer and shall not be reissued. All interest coupons pertaining to any redeemed bonds, which coupons have matured on or prior to the time fixed for redemption, 25 shall continue to be payable to the respective holders thereof but without interest thereon. All unpaid interest payable at or prior to the date fixed for redemption upon bonds registered in such manner that the interest is payable only to the registered owners shall continue to be payable to the respective registered owners of such bonds, or their order, but without interest thereon. Section 10. That any of said bonds may be registered either as to principal only or as to both principal and interest, and the form of registration of any registered bond may be changed or any registered bond may be discharged from registration, in the manner and with the effect set forth in the provisions for registration contained in the form of bond set forth herein. Section 11. This resolution shall take effect on the date of its adoption. ADOPTED, SIGNED AND APPROVED this 14th day of October, 1968. axe Mayor t e City ot San ATTEST Juan Capistrano, California Cityk Clerkot the Cit o an Juan Capistrano, Cali ornia (SEAL) STATE OF CALIFORNIA ) COUNTY OF ORANGE ss CITY OF SAN JUAN CAPISTRANO I, ERNEST A. THOMPSON, City Clerk of the City of San Juan Capistrano, California, DO HEREBY CERTIFY that the foregoing resolution was duly adopted by the City Council of said city and was approved by the Mayor of said city at a regular meeting of said City Council held on the 14th day of October, 1968, and that it was so adopted as follows: AYES: COUNCILMEN: BATHGATE, DURNFORD, FORSTER, OLIVARES and CHERMAK NOES: COUNCILMEN: NONE ABSENT: COUNCILMEN: NONE 'Gds z�✓ City Luerk of the city o an uan Capistrano, California