HomeMy WebLinkAboutORD 1434I ...
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AN ORDDLAKCB AMDDIJfG ~ PALO .lL'l'O
IJIPROVDIZNT PRocm>mtB CODB R3LATING'
TO 'l'BE MATORI'l'Y OP CE!n'AIN BONDS
'l'he Council ot the City ot P&lo Aito does ordain as
follows : ·
'·. .. &t'c." l~ Sectioii 14 of Part 5 'or.Art1~le. D . of the Ordi-
nance :e1ted. in the title ,' be1.ng Ordinance No. ~4 . adopted on
. ·January 13, 1911-1, :1s hereby amended t 'o .read as tol~on: ·
"Sec. ii.. De•omination and P~l'f!!nt or Bonde. The
bonds shall ba msde~mature in such amounts in each year· ~s
the Council shall deter1Dintt. All bonds shall be in the denomination
,of,,mult1ples of one. ·hundred dollars but not exceeding one thousand
· · dollars, excepting that there shall b•i not more than one odd
denOlllination bond in any one year.
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. Each aeries of said· b<>nds a·hall be payabl.e on
the·-second .. ·day Df July of" the yeare in which they mature. The
first seri~s shall be irade payable on the second day of July
of,tbe f1rst,ye.ar next succeeding t en ·montb.s 'atter their dat e.
The t-inal,aeries or installment or ea~d·bonds shall: matare and
· be ·payable on ~date which shall not uxceed twent:r-ru..ne years
· rros:tbe date or the maturity ot the :~irat s~riea of said :bonds.
, .. Sai.-d··b-Onda shall• be s1.gned by the tre11eurer and clerk, .and· shall
have affixed t~reto the seal or the •:ity. •
' sec. 2 : Sec t1 on 8 of Part 6 <>f Article r.v ot said
Ordinance is. h~reby amended to read an follows:
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. '· "Sec •. 8. Denomination and Pazrnnt ·or Bonds. The
. boo4a a~ll be ade-to·. mature .in such-amo•mtsn each year as ·the :'Council shall d.etermbe . 1n1 boncts shall be in the denom1-
nat1on or multiples ot· one hundred d~:llars but not exceeding one
t,housand .. 4ol'l:an,· .excepting that thero shall be not more than
one. odd·-·denolifna t1on bond in ally one ;~rear. ·
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· '. · . . . ' · Each . s&ries or said "bonds. sbal·l be. payable on
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tl,le nco'nd day Of July or tbe years· i!n which they mature. The
t1rst aeries. ·.a~a.ll be 111ad.e payable on: the second da7 ot July of
the ti·m~ }fear ·next succeeding ten moJ'1tha after their date . The
rtna1. ser'1.s':.or;;1nsta:.l.lment or said b:Clnds shall mature and be
payable on i ·~te which· shall not exc~d twenty-nine years rrom .th& date -or·tbe mat~it.1·or the first se-r1es of said bonds. Said
bonds shall be1 eigfleb b·y the treasurer· an<\ clerk, and shall have ~'f.Nxed theret'o tbe seal of the City." -
Sec. 3. A copy of t h1s Ord!nance s hall be posted on the
bullet!n'·b<?&rd at the ~1ty Hall w1th1r. f1ve da!'S; from the d~te of 1. ta adoption. and this Ordinance sha U i>e effective upori the
expirati on of t h!.rty dalrs 1.'rom ar.d after t!':e date of' 1 ts' adopti on. ,., . • • • • 1t • •
. T~ f.~rego1ng ord1nanc~ waa d~ly and regularly introduced
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. at a · regular tMe'ting of the Council of the City of Palo Al.t o
1 .. : • helCf-on tbe '.2·h a,day of November, 1952,;--and .waa·;therea.rter' at a : f. ; regi.ilar' aiee:uug,;beld on 'the 8th day of. Dece111ber, 195'2. duly and
.,. : ..... _;:regularly pa!iJ_e·d. and' adopted by the following vote: •' ., .. \ ; ~ ;',· I~· i .. •; :'· '" ·•
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AYBS :Biehop, Blois, Bower, .Cathcart, Drysdale, Gaspar,
. Hill,. l'la1•ahall, M11lei:-, !'..itchell, Mont:.~ouil,
Si mpson, Wells, Wickett.
NOBS: None .'
ABSENT: Cashf1l.
APPROVED: </~z== ATTEs;:~' , i p.e.;: . -.
· y Cler ..
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I, WIHIPRBD KIDD, CUy Clerk or the City or Palo.Alto hereby
.· certify that the above and foregoing ordinance was duly and
regularly pas.aed by f;he Council or the Ci t:r or.··Palo Alto ae
follows·: ,P1r8t read'!tng on the 2-th day of Novembei~,1"952,
ae'coti'd -~ading and '1)1~.eeage on the 8th day or Deceml>er, 1952,
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and was thereafter posted on the bulletin boat'd at the City Hall.
a~//;;tY~ :; /l City Cle1"K
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