Ordinance 1979-304037A-156a
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12/13/79
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ORDINANCE NO. 79-30
AN ORDINANCE PROVIDING FOR THE ISSUANCE OF REVENUE BONDS
PAYABLE SOLELY FROM THE REVENUES OF THE CITY SEWERAGE
WORKS AND SYSTEM TO PROVIDE FUNDS FOR THE ACQUISITION,
CONSTRUCTION AND FINANCING OF ADDITIONS, EXTENSIONS,
REPLACEMENTS AND IMPROVEMENTS THERETO; REGULATING THE
ISSUANCE OF SAID BONDS; AND PROVIDING FOR THEIR PAYMENT
AND THE RIGHTS AND REMEDIES OF BONDHOLDERS THEREOF
The Council of the City of Gilroy, does ordain as follows:
1. This Ordinance shall be known and cited as the City of Gilroy
Sewer Revenue Bond Ordinance.
2. The City may issue revenue bonds to provide funds for
acquiring, constructing and financing additions, extensions,
replacements and improvements to the City sewerage works and system.
The bonds shall be authorized by resolution of the City
Counc i 1.
4.
The bonds shall be payable solely from and be secured by a
lien upon the revenues of the City sewerage works and system, which
shall constitute the enterprise, or such part thereof as is pledged in
the resolution providing for their issuance, and such other funds from
any other source as may be used by the City for such purpose without
incurring an indebtedness.
5. The applicable provisions of the Revenue Bond Law of 1941
(Government Code, Title 5, Division 2, Part 1, Chapter 6, Sections 54300
through 54700), as now or hereafter amended, excepting Article 3 and
Sections 54403 and 54418 shall apply; provided, that the first interest
coupon may be for one year or less.
6. This Ordinance is necessary as an emergency measure for the
preservation of the peac6, public health and safety. The reasons
therefor are that the City has been cited for violation of the
regulations of the Bay Area Air Pollution Control District relating to
odor from industrial wastewater treatment system, and improvements
thereto must be immediately financed in order to meet such regulations.
This Ordinance is a revenue measure to provide funds therefor and for
other improvements to accomplish said purposes which are needed to be
undertaken before the Ordinance would otherwise become effective.
7. This Ordinance shall be introduced and adopted at one and
the same meeting and Shall take effect upon adoption.
ATTEST:
(SEAL)
I, SUSANNE E. STEINMETZ, City Clerk of the City of Gilroy, do
hereby certify that the attached Ordinance No. 79-30 is an original
Ordinance duly introduced and adopted at a regular meeting of the
Council of the City of Gilroy held on the 17th day of December ,
19 79 , by at least five affirmative votes.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
official seal of the City of Gilro¥, this 19th day of December ,
19 79.
City Clerk of the~ City of Gil~
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