Ordinance 1980-01$036A-156a
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ORDINANCE NO.
80-1
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,
Council.
4.
replacements and improvements to the City sewerage works and system.
The bonds shall be authorized by resolution of the City
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. Upon introduction the City Clerk shall cause this Ordinance
to be published once at least three (3) days prior to its adoption in
the Gilroy Dispatch, a newspaper of general circulation in the City,
and said Ordinance shall be effective thirty (30) days after its
adopt ion.
AYES: COUNCIL MEMBERS: ALBERT, CUNNINGHAM, HL~AN,~LIN~TAYLOR and PATE.
NOES: COUNCIL MEMBERS: None
ABSENT' COUNCIL MEMBER' GOODRICH ....
· · ' ·/ ~n~mnorR
~/ Mayor /of th~ City of Gilroy
I, SUSANNE E. STEINMETZ, City Clerk of the City of Gilroy, do
hereby certify that the attached Ordinance No. 80-1 is an original
Ordinance duly introduced at a regular meeting of the Council of the
City of Gilroy, at a regular meeting of said Council held on the 17th
day of December , 19 79, and thereafter duly adopted by the Council
of said City at a meeting 'of said Council held on the 7th day of
January 80
, 19 , 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 llth day of January ,
19 80 ·
Ci y Clerk o~ the City of G~
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