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PROVDIN G FOR T:>-IE
EOSP:.CTAL ;jQNDS-OF
T~ DATE-~~D FORM
ATTACEED. -TEERETO:
0 R D I N A N C E N 0 • 805
TSSUA 11'CE 0,;;'1 C.:.•l""'l!:: ()00 00 i-">RTiSI"T'OAT "MOT'I">.~T 0"' .... .1'\.J.If J .. 't7 (.,..;' l..o• • -.. _ ...... '-.J ·~· ..., ~... :r..i.!."l ..
1939 OF' TP.:E cr:rry OF PALO P:..L'.r'O ~ P:F:SSCFt!B!.L"'iG
OF SAID BONDS A..~D OF 'I'r:E COlJP(h'l'S TO BE
FIXING .'r:EIE RA_erE 0? IKTE?3:3T ON SA!D BONDS
AND-PRESCRIBING '1':-l'E MATlJRI'l'IES 'rT-!ERBOF; AU~L'!-I·)RIZING· ~-'EE
EXECLTION OF SAID 30NDS A~m COUPONS ,J:ID PRO'l!DH7G !"OR T.HE
WTY OF A T.U 'I\) PAY T::E PRINCIPP.L AND INTERE~5T T.::EF.EOF ..
w.E:EREAS all the :req:u.ire;ments of' law have beez:L complied
, • wi. th in calling and holding the special e.lection held 1r.: the
City of Palo Alto on th.e 15th day of February, 1938, at which
election the proposition to issue bonds of ss.id city in the pri:n
oipal sum of $175,000.00 for the purpose of s.cquir.1.r..g, c:o:ns truct
ing S...'"ld_ cor-~leting the following m-r.m1cipal i!:".provement, to;...wit;
the enlargemen;t:and betterment of the Palo Alto ;!ospital, ir.cludL"lg
the construction of an aadit1on or9d.ditions thel·eto,. was sub
mitted to the voters of said ei ty; and the Council o:' said city
did meet and canvass c the returns of ss.:td electicm on Thu.rsaay,
the 17th dAy of Feb!"l.:..ary, 1938, and did a.s the :result of such
ce.nve.ss o.e-:;erm!.ne ana. acclare, and a.o hereby cel•tify ·that said
~)ro;;osit:t·Jn r~ceivea a.t saia special 3lection t:ce aff:i.r::na.tive
vote of more tha..."l'l two-th1ras of all of the voters voting at said
ele.ct~.o!)., and was the:!:'eby carr:!.ea and aa.optea by se.~.d elec~1.on,
ana the issuance of all said b·mds by said city was auly author
ized;
NOW, THEREFORE, Th~. COUNCIL OF THE CITY o·p PALO A!1TO
DO ORDAIN A':$ !:'OL!,OWS:
Section 1. '.Chat bona.s of the Ciit·y of P.slo A1to il::1.
the aggreg!J-fe prin9:ipe.l sum of $175,ooo .. oo, to be k~.ovrn ns th~~
ucity of Palo Al 'to Ho~pi tal Bonds of 1~3~", s::J.s.ll issue ::o pa:'r
the cost of acquisi t1on, construction anc. co~plet1o~1 by said
city o:.f t.~.;.e following !llunici::)al ir·::prove.ment, to-wit, the enlargement
and bette.~ent of the Palo Alto :-!ospi:;al:o incluc~1ng the eons-::;::~ucticm
of ar.~, ao..d1 t;ion or aadi tions thereto.
Section 2. Tr.;.at .said bonds shall be issuea SLs he::::""ein-
s.!'ter set f-or~n, a-.~a: s!:sll be sold 1...-;. accora.ance with lavv and
w1 th. tl:e p·rovis io.ns or· th1.s ord..i.'1 anc e. SaiC: bon:ls l:lbt,ll be
negotiable in form., and of the c..'la.racter kr.:.0\\'11 as ser:r.al:• a.."ld
s.hs.ll be one hunarea. se .. Jent:y-five ( 1'75) 1n nu:t,ber, nur.be::-ea cl:)n
:!:fecutively :from 1 to 175, both inclt"tSive, ana. all of' ss.id bond.s
shall be o{ the. aeno~i~at1on of $1000 each. All of said bond:3
shall bear.~interest-from their date until paid at tl::.e rate of
tr..re~ ( 3) per cent. per annum, payable semi-a:n..."'lually. Such
interest· s~1_a.ll be eviaencea by coupons a.ttacb.ea to each 1:>ono.,
and each of said coupons shttll represent. sb:: months' int~:;res't on
the t~~nd. to which it 1s a ttachea. T'.ae prL"lcipa.l and intt~rest of
sa.id boncts shall be navable at the office of the T:reasurt~r of
the city of Palo Alto 1::1 l~wful =.oney of the Un1tea. St&t4~S. Said
bonds shall be c.atec. Nov.emn0r 1, 1939 ana !:!.ve ( 5) of s~dd bo:nds
o!~ the ceno:::1nati.on of $10~)0 each s:hall ms.t"J.r-e g::1.d be payable
in cor:.secu.tive n'~erics.l (>rder from lower to :h.ighe:-on N('vemb,er
lst i!l each of the. yeez.s 1940 to 1944, 'both inclusive, and te:n
( 10) of' sa:fd bo:lds of tr~e aenon1i.nation of $lOCO each shall !!:B. ture
and be payable in consec.,_.,t~.ve. n"Ulllerical o:-der f:-om lower to h~ Q;her
o:c Noverc.ber 1st in each of the yea:rs 1945 to 195:?, both l:2clu.::~1ve;
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ORD 805
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Said ir.teres t cou.pons Sb"'\ll be pays.bl:~ on the fi_,;::·s t. c.ay o!'
May anc. the first cay of? Novero.ber o:· 1:lach ~rear ·:mtil S...'l'ld at the
respective dates of :r:'itito.r:tty o:f said bonds,.-the :first coupon on
each bond being payable on May 1, 1940.
Section 3.. Said bondS shall be subs·:a.ntially in the
r'ollowi!;.Q.· form, :Che clanks in said fo.rm and in ~:;he form o!' coupon
given below, to be fillect "l'::tt,,'1. s.pprop::·iate worc.u or rig-~:::oes,
na:nely:
UNI'.l.'ED STATES OF AMEP..ICA
STA 'TI~ OF CAL:FORN°IA
C!~·y or· PALO AL1'0 BCS'.?:CTAI, BOND OF 1939
~rn. $1000
?or valt:.e received., the City of Palo Alto,. a
municipal corpo::-ation 01."'gruiizea and ex:t.s tiri.t; unaer the consti
tution and laws o:t' the State of California.; hereby aclmcv1led.ges
j'.,tself 1:n.d_ebtea s.nd pror.'lises to pay to the bearer on tb .. e 1st
C.a.y of 1'-ToVO!.!l.Oer,, 19 ,. ONE '.l.?.OUSAND ( lOCO) DOLURS, w~t th :1:::.terest
thereon at the rat eof three ( 3) per cent. per ai:mu...."r., payable
semi-annually on the first ds..y of May B....""ld the fi:t-st d~\f of Nov
ember· of each ye.ar, ori presentat1o~ s.nd surrend.e::-· of the coupons
· hereto a. ttachea. as t.hey I'e$pecti vely become due; bot!::l pr:tr..cip.e.1
e.na interest being payable in lawful .money of th.(r United. States
at. the office 01' the Treasu:::·er of. sn:td ctty.
1Yiis bond is issued. u.nde:r ??:nO. puz'suan i: to t~: .. e cons ti
tution anc: statt.ttes of' the State of ca:U.fo:mia., S..."'ld 'tl.nc.e:r and
pursuant to orc1i71ances a.~.d proceeaings o:: said cj.ty ctu:Ly adoptea
and taker: a.na a vote s.nd. assent of ::'.',ore ~;han two-·thirC!.~~ of a.11 the qua.l:ifiea electors of se.id cit:,i; voting at s. specia.J. elect.ion
du.1:1-s.nd legally called and held for thai; purpoz~,.
It is b.er·eby certified, recitcc. and o.eclared:. tr..at
all acts, cona.itions a.nd things requl:?:·ed by law to exist, happen
s..n.6. to be pe=-fo!"!llea preceae?1t to and J.r. 1:!re issuance of th~
bona .t.M.ve ~Y.1:::ft;ec, happenca and been perfonr:.ed ir. aue ti:.:e,
•form and manner as required by law, a.ni:t t;hat· the arnou..""J.t of' t:1.is
bona, to.~etl-:.er w:~ th all other i~aebtedr.e~ s of said city o.oes not
e.xceec. any lim1 t prescr1bec. by the cons t~.tut1an or statutes of
said ;J. ta. te: or t:t~e charter of said city, mid ths. t pr-ovj.~;ion. :i.a.s
been :.w.a.e as required by the cons ti tu t1or.. e.n_d st.a tu.tea of said
state for the. collection o:.~ an e..'l"J.nw'.1 tax sufficien~ to p~y the
:princi.pal of? :;md interest on, this bend s.s t..'1.1:. same becomes aue ..
'E."le full faith and cree!.1t o!: said c:tty a:re hereby· pledgeo. !'o:::-t.."le
punctual paJ""lnent: of the principal and 1."".'.terest. of this bond.
IN ·.~IT'XESS :r~rnREOF, said C:tty of Palo Alto ha~~ caused
this bond to be_axecuted under its co::-pore.te·saal, signed. by
its Mayor tmd its Treasurer, and counte~signed by its clerk7
a.no ha.s causea the interest coupons hereto a.ttac!.u:;a to OE~ Si.g]led
by its Trea~m!'er, s.nd this bond to be aated the f':~rst d~ of
tfovember, 1939.. /:.-::? &~~· ,___I_I,_,..to·--
.Coun.ters 1gned.:
c:tty C!!e rk of fEe O!fy er 1'alo Al to
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MWA JV 2 r.n .: 21-aa : Li aa SI 1$ il &£££&&&$WI ll4UZL!i
, T're 1.nte.r.·est coupons shall be signed ·:::iy the 'J'reasur.er
ot said ei.ty, ·by .his. en.gravea or lithog:raphea s5.(~nature, and be
Suhe.,a ... ·'-·~"'llv in t'i-,·e T'o~ io ... ·~n ... -l"o-· ,._u V~.i...\ W_r.r.. J JJ..., --~ ._., __ ""-C· ~ .a.~.:,.fir.
(Form of Coupon)
$ -----
On the . cmy of ·~' J:.9 , the City of
,Palo A:!. to v1ill pay--..,..t~o-....t-~ebearer a.t the o1'l'ic~s of tn'e Treasure:r:
of said C5.ty dollars
in lawful zno·.1ey of £::-ie United. s'Ea.tes, being s:lx l'.lton.t:hs'· interest
then due on its Hospital Bond of 1939 , •
Treasurer of 'th.€ Cl ty o.f Palo Aito
Section 4. For the pu.r~ose oi payinp the -pr:incipa.l anti
interest of said bones the Council of se.id C:ttv of Palo A1 to .. .
s!::.a.11, s. t the ti:w.e of fixing the general ta.x levy S...'lJ.d in. the :ms.nner
for such general ~ax l~vy pro video,. levy a."'lC c:ollect o.nn~.rn.lly es.ch
year, until. such bonds a.re PS:id or untiJ. there shall be a sum in
the treasury of said city set apart for tl'.:.at purpose, to meet all.
smns becortJ.ing due for princ.ipal and in ter·est on said bondB, a tax
suff':tcie:nt to pay the annual interest on se.id b.)?'l~s, and nlso such
part of the principa.::J. thereof a.s shall oecome d.1le be:'.:'ore the time
for fixing the next general tax levy. Sa.id tax s:··1all be t:n addition
to all other• taxes lev1ea for m·imicipal purposes, and shall be
collect0d at the ss.r.;.e time and. in the same ::nanner as other munic:t
ns.l taxes are .collected, and as coll~ctea shs.11 b~'~ forthw:tth
Paid into the fund. for wr,.:tch ·the same was leviea and colle)cted.
Such :fu.i.~d shs.l'.l be desisnated "1939 Eosp:!. ta.l ?"'1md1·1, and ~tll sums
to become due for the pr-l'ncips.1 s.nd i."lterest on sHid bonds shall
,.,.. au
be ns.ic from such fund.. There s:r~s.11 lU:ewis e be de'OOS i tElC. in said
fun.a any moneys l-ecei ved o~ acc.<)U.l"lt of interest a<~cri.1ed. or. said ooi'.10.S
from thei!' c.ate to tbe date of c.el:ivery and actual paymcn.t of the
purchase price thereof.
Section 5. The :.~ayer of said City of :t'alo Alto ana the
'rreasu::>er 6?. saiO. ci.ty a:.re he!'eby au t..'f:i.orlzeo. and c irect.ed respect
:1. irely as such officers to si2:;1 es.en of said borid.s on be!:a.l.f
o:f said city, and the City Clerk is hereby authorized and ·lirected
to cou:.."'ltersign each of said bon:~s ana to :t'ix tt:~e corporate SE:-S.l
of' ssic~ c~ t:i· tl:4er·eto; a.."'ld t.."'le said Treasur~~r :1.s hereby s.u::hor1zed:
a."l<;i.d1rected ~o sig,."1 ~sch of the inte:-est cou;Jc•ns either b:r l"..is
ov.-n r..and. or by lithographea or engravea fa.cs:t~ile s:i.gnatu.r~~; and
S""c'-0 .(·,,.,.,in·,..,. "•oun~·er·c·i'"'"'•in~ "'"'"' se'"'l.,."'~ sh ... 11 ·oe 1" suf'f'-: ·. ''·'r.,.. .u. ~ . .,., .... ::..""'"" ,,~,, '"' "" ""' :~J.-. •6 ~'-• ~ ..-..;..i.o ..,,.., -J~ -,.&. ..... v.i.,-_.. J.'-'
and binc.ing execut5.o~ of SB.id 'bonds and coupons by said c:i ty ~
Section 6. 1.I.'here is hereby created a.nd esta.bli~;hed a
f'ur..C. to be known .as "1939 F.'ospi ts.l :~ond '?Und", ·wh::.eh shall be
kept by the Treasurer of said city jt ana all proo.eeus of sale of
~"'lJ of ss id bonds, except a ecru.ea. ir..teres t 1•ecei ved. on si.:.c!:. sale,
sl:lall be placea by the 'Irec.:surer to the c:--eai t ,,f ~ru.ch func, and
sh.all be applied exch:i.si vely to th0 acquisition, construction
and completion of the aforesaid munic.ips.l impro•;remEmt •
Section '7. The City Clerk is directed tc cause to be
li thog1"aphea, printed. or engra.vea a su:!:'!'icient niunt1er of blank
bonc.s and coupons of suitable quality, and to cs-.u.se the bla.i:ik
spaces thereof to ba filled in to comply with the provision;:?
hereof, and to procure their execution by the proper ofice:r:s,
and to cieliver t...'l-iem, when so executed, to the Treasurer of :aaid
city who shall sa.fely kGep the same u.nt~.l they shall be sold by
the Cou.,,"1.cil, whereupon he shall .deliver them to the purchast~r or
pi.ll'chaser.s thereof, on receipt of the purchase price.
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Section 8.. This o:r-C.lnance .:fo.all tt:<ke effect fro:?t snd.
aftel" its passage and approval. The Clerk s~:.Hll there:a!'ter post a
.copy of this ordinar:ce on the bullet~.n. board..
T'nis ore.ins.nee V'Hls auly passed snd a8cpteo. a,s an
or·d:!..::an.ce of the Cit~1~ of Palo Alto at a reg-..-:li:~r ::::.eeti:-:z, of the l ; C ou.."11.cil of said C:L ty ::.eld rm t·'.1e 9th day of Octoc>er, 193<.:i, by the
* : .following vote: L,;.
AYES:
NOES:
AESEJ.'!T:
Be.ntrott, Blois, Cashel, Costello, Cyphe·r, Goddard,
Boy, :i,:erner, 1:1 tchell, :Reea., R:'Lcht:1.rd.s, Southwood,
Thoits.
None.
Thomas, Wood.
I, WINIFEE:D KIDD, City Clerk oI' the City of :Pf::i.lo Alto, herebj·
cert::'.fy t:·.st .t!'.e aoo~;e 1;:1.nc .t'ore;-:-oing ordinance was Otlly s.r:.d
:"ef..-:ul~rly passed by t::.e Council of ':.he Ci.ty of Palo Al tc> on
f~ rs t reading on the 0 tr: ds.y of October, 1939 ~
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