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Ordinance 896 iiiIiliiIil j. lli!' ~ \1L:SSD:gb 8/19/70 20c ORDINANCE NO.896 AN ORDINANCE CALLING A SPECIAL MUNICIPAL ELECTION TO OBTAIN APPROVAL OF INCREASING INTEREST RATE ON THE UNISSUED PORTION OF $950,000 OF BONDS AUTHORIZED APRIL 8, 1969 THE COUNCIL OF THE CITY OF GILROY DOES ORDAIN AS FOLLOWS: WHEREAS, a special municipal election was held within the City on April 8, 1969, at which the following measures were ap- proved by the qualified voters of the City, to wit: PROPOSITION NO.1: "Shall the City of Gilroy incur a bonded indebtedness (Library) in the principal amount of $600,000 in accordance with the provisions of the Ordinance calling the election at which this proposition is submitted, for the object and purpose of the acquisition of real property and the con. struction and completion thereon of a library building, including land and rights in land, site clearing and development, building, parking facilities, landscaping, furniture, furnishings, equipment, facilities and appur- tenances, and all things auxiliary thereto and necessary to complete the same?" PROPOSITION NO.2: "Shall the City of Gilroy incur a bonded indebtedness (Park Improvement) in the principal amount of $150,000 in accordance with the provisions of the Ordinance calling the election at which this proposition is submitted for the object and purpose of making certain additions and improvements to the City's Northside Park encompassing the construction and completion of park facilities for community use, including structures ,and equipment and incidental works and structures necessary or convenient to the maintenance and operation of a park?" ' "Shall the City of Gilroy incur a bonded indebtedness in the principal amount of $200,000 in accordance with the provisions of the Ordinance calling the election at which this proposition , is submitted for the object and purpose of the acquisition of real property and the construction and completion thereon of a headquarters fire station; the completion of grading, paving and site preparation of such real property; the purchase of furniture and equipment to furnish said headquarters fire station; and the purchase of fire apparatus and its equipment; and the acquiring of all lands, easements, facilities and,appurtenances and the completion of all incidental work necessary therefor?" . PROPOSITION NO.3: (Headquarters Fire Station) .B9? WHEREAS, section 4 of Ordinance No. 843 calling said election provided that the bonds shall bear interest at a rate not to exceed six percent (6%) per annum, which was the maximum rate of interest author- ized by law for said bonds at the time of said election; WHEREAS, $350,000 of said authorized issue has been issued and sold, and the remaining $600,000 of said issue were offered for sale on May 4, 1970, for par to bear interest at not to exceed said maximum rate and no bids were received for the reason that the market price for simi- lar bonds was in excess of the limitations in interest rate so provided; WHEREAS, the law pursuant to which said election was held has been amended to permit bonds issued under it to be issued bearing interest at not to exceed seven percent (7%) per annum; and WHEREAS, proceeds of said bonds are urgently required to meet the City's desire to acquire real property and construct and complete thereon a library building and facilities and appurtenances for which said bonds were authorized; NOW, THEREFORE, IT IS ORDERED as follows: 1. A special municipal election be, and it is hereby called and ordered to be held in the City of Gilroy on Tuesday, the 3rd day of November, 1970, at which election shall be submitted to the qualified voters of said City this ordinance and the following proposition, to wit: Shall the maximum interest rate be changed from 6% to the maximum rate authorized by law, to wit: 7%, on the unissued portion of all of the bonds authorized at the special municipal bond election held on April 8, 1969, in the City of Gilroy, being the bonds set forth and described in the three separate measures submitted to the electors at said election? PROPOSITION: (Bond Interest Rate) 2. If the legally required number of all votes cast at said spe- cial municipal election are in favor of the proposition submitted thereat, said proposition shall be deemed adopted. Bonds issued pursu- ant to this ordinance shall be negotiable in form and of the character 2 known as Serial, and shall bear interest at a rate of not to exceed the rate set forth in the proposition approved by the voters at said election, payable semiannually, except that interest for the first year after the date of the bonds may be made payable at the end of the year. 3. Said special municipal election shall be held and conducted, the votes thereof canvassed, the returns thereof made, and result thereof ascertained and determined as herein provided, and in all other particulars not prescribed by this ordinance the election shall be held as provided by law for general municipal elections in the City. 4. All persons qualified to vote at municipal elections in said City upon the date of the election herein provided for shall be quali- fied to vote upon the propositions submitted at said special municipal election. 5. The special municipal election is hereby consolidated as to all precincts which are the same for both elections, with the general statewide election which will be held within the County of Santa Clara and the State of California on Tuesday, the 3rd day of November, 1970. The special municipal election hereby called shall be held in the man- ner provided for the general statewide election with which it is con- solidated, and within the territory affected by the consolidation, the precincts, polling places, hours of election, and voting booths shall, in every case, be the same, and there shall be only one set of election officers in each of the precincts. Such precincts, polling places, hours of election, and precinct board members shall be the same as those provided for the general statewide election within the territory affected by the consolidation. 6. The Board of Supervisors of the County of Santa Clara is hereby authorized, pursuant to Section 23306 of the Elections Code, to canvass the returns of the special municipal election. The canvass may be made by the Registrar of Voters if under Elections Code Sections 18401 or 18461 the Registrar of Voters is required to make the canvass. 3 The election shall be held in all respects as if there was only one election; only one form of ballot shall be used and the returns of the special municipal election need not be canvassed by the Council of the City of Gilroy. 7. Ballots for the election shall be provided of the form and to the number provided by law. On the ballots, in addition to any other printed matter which may be required by law, two voting squares shall be set off to the right of the proposition submitted at the elec- tion and set forth in Section I of this ordinance one having the words "Bond Interest - YES" printed before it and the other having the words "Bond Interest - NO" printed before it. 8. Where standard paper ~ots are used, each voter to vote for the provosition and for the increase in interest rate shall stamp a cross (X) in the blank space opposite the words "Bond Interest - YES" on the ballot to the right of the proposition and to vote against the proposition and against the increase in interest rate, shall stamp a cross (X) in the blank space opposite the words "Bond Interest - NO" on the ballot to the right of the proposition. Where a punchcard voting system or voting machines are lsed at said election, each voter to vote for the proposition hereby sub- mitted and for the increase in interest rate shall, using the marking or other mechanical device provided, mark, punch or slot the ballot card opposite the words "Bond Interest - YES" at the right of the prop- osition and to vote against said proposition and against the increase in interest rate, shall, using said marking or other mechanical device, mark, punch or slot the ballot card opposite the words "Bond Interest - NO" at the right of said proposition. If punchcard ballots are used for absent voting, the ballots shall be marked by pencil or by a mark- ing device which enables the voter to register his vote by punching or slotting the ballot card. 9. The polls shall be opened at 7:00 o'clock a.m. of the day of 4 election and shall be kept open until 8:00 o'clock p.m. of the same day, when the polls shall be closed except as to voters in line, as provided in Section 14436 of the Elections Code of the State of California. 10. The Registrar of Voters of Santa Clara County shall be re- sponsible for the procuring of necessary rosters, ballot boxes and other supplies for the proper conduct of said election. 11. Notice of the election hereby called shall be given by pub- lishing this ordinance once a week for two (2) weeks in the Gilroy Evening Dispatch, a newspaper published less than six (6) days a week in said City, and such publication shall constitute notice of said election. No other notice of the election hereby called need be given. 12. This ordinance, being an ordinance calling and ordering an election, shall take effect immediately upon its adoption. Jt~~~,J1~lY~ Mayor of the City of Gilroy ATTEST: (SEAL) PASSED AND ADOPTED this 26th day of August, 1970, by the following vote: AYES: COUNCIL MEMBERS: Duff i n ,Kennedy,Pate,S i Iva ,Wentworth & Goodri ch. NOES: COUNCIL MEMBERS: None * * * * * ABSENT: COUNCIL MEMBERS: Ba trez 5 " -", ::."\ , , .' . ~ .' .. ~ii: ';f~ ,~~ '~:~ I, SUSANNE E. STEINMETZ, City Clerk of the City of Gilroy, do hereby certify that the attached Ordinance No. 896 is a full true and correct copy of an original Ordinance duly introduced and Members adopted by the affimative vote of 6 City Councilm.etY at an ad- journed regular meeting of the Council of the City of Gilroy held on the 26th day of August, 1970, at which meeting a quorum was present. I further certify that the said Ordinance has been published in accordance with the Charter of the City of Gilroy. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of Gilroy, this 10th day of September , 1970. / k ~ ~)Uod~/ "~~~ ~ity Clerk of the City of Gil~)