HomeMy WebLinkAboutRESO 5870•
, ' ORIGINAL
RESOLUTION NO, 5870
RESOLUTION OF THE COUNCIL OF THE CITY OF PALO ALTO
ACCEPTING GIFT TO THE PALO ALTO LIBRARY SYSTEM
W~iEREAS, the Second Annual Frank D. Manfredi
Testimonial Dinner is being held in Palo Alto on
January 30, 1981, honoring Victor Calvo for his many
humanitarian contributions to this community in the
tradition exemplified by one of our leading senior
citizens. Frank Manfredi; and
WHEREAS, the Frank O. Manfredi Testimonial Fund
has determined to use the net proceeds from this
traditional annual event to establish and periodically
to enhance the Frank D. Manfredi Labor History Collection;
and
WHEREAS, the Frank 0. Manfredi Testimonial Fund has
offered this collection, as an ongoing project, to the
Palo Alto City Library as an integral part of our City 1 s
circulating library, with funds and volumes to be added
as they become available through the Fund.
NOW, THEREFORE, BE IT RESOLVED that on behalf of
the people of this community, the Palo Alto Ci ~y Council
gratefully accepts the Frank D. Manfredi Labor History
Collection as a permanent portion of the Palo Alto City
Library.
INTRODUCED ANO PASSED: February 2, 1981
AYES: Bechtel, Eyerly~ Fazzino, Fletcher? Henderson, Levy, Renzel, Witherspoon
NOES: None .
ABS ENT: None
APPROVE:
~ 14. .. ~ 1'1'dh _/ Mayor '
APPROVED AS TO ,:FORM:
City A orney
----· -----------------
·~ ~r'l •
Bonds, City of Palo Alto Underground Utili.ty Assessment District No. 20,
Series ," and shall be dated March 2, 1981. Said bonds 11hall be issued
as coupon bonds, registrable as to principal and interest or as to principal
only, be numbered and of the denominations and mature in the amounts and on
the dates set forth in Exhibit "B" attached hereto and by this reference made
a part hereof.
3. Interest. Said bonds shall bear interest from their date at the
rate of 7.05% per annUlll, computed pursuant to Section 12.16.096 of said Code,
payable commencing on January 2, 1982, and semi:innually thereafter on July 2
and January 2 of each year to maturity.
Each bond will continue to bear interest after maturity at the rate
stated therein, provided it is presented at maturity and payment thereof is
refuoed on the sole ground that there ia not sufficient money in the
redemption fund with which to pay eaae; if it is not presented at matority,
interest tbe~eon will run only until maturity.
4. Payable. The principal of and interest on said bonds shall be
payable in lawful money of the United States of America at the office of the
City Treasurer, City Rall, Palo Alto, California. Principal and interest on
any fully regiater~d bonds and principal on any bonds registered as to
principal only shall be paid to the registered owner by check or warrant
mailed to tbe address entered in the registry book provided for herein.
5. Form. The coupon bonds, the registration endorsement thereon and
the courions to be attached to auch bonds shall be subJtantially in the forms
set forth in !xhibit nc" attached hereto and incorporated herein by reference,
the blank spaces therein to be filled in to conform. to the provisions of this
resolution.
6. !:itecution. n.e bonds ahall be executed on behalf of the City and
under its official seal by the Treasurer and by the Clerk of the City, and the
c~upona attached to the coupon bonds shall be executed by the Treasurer whose
aignatur-e aay be reproduced on. the bonde and on the coupons by engraved,
printed or litbograr~ed facaiaile thereof, and the official seal may be placed
on the bonds ia like manner; aucb signing •~d aealing shall constitute and be
2
.. , ' ; . •
a 1ufficient and binding execution of each and every one of said bonds and of
any coupons thereof, respectively.
If any officer whose signature apears on the bonds or on any coupons
thereon ceases to be such officer before the delivery of the bonds to the
purchaser thereof, such signature shall be as valid as if such officer had
remained in office until the delivery ot the bonds.
7. Preparation and Delivery of Bonds. The Treasurer is hereby directed
to cause 1aid bonds to be prepared in accordance with thia resolution and to
deliver same upon their completion and execution to the purchaser thereof,
upon receipt of the purchase price therefor, and upon the performance of the
conditions contained in the accepted bid for the bond1t, as determined by this
Council.
8. Proceed a of Sale of Bonds.
the bonds, including any premium,
acquisition and/er construction of
The proceeds received from the sale of
shall be placed in the fund for tbe
the project (herein the "Improvem~nt
Fund"), except that any interest accrued from. the date of the bonds to the
date or delivery thereof shall be placed in the redemption fund provided for
herein. All moneys in the Improvement Fund shall be withdrawn only upon
checks or warrants of the City, and shall be "pplied exclusively to the
paY2tent of t•ite cost of the acquisitions and/or improvements described in the
proceedings herein referred to, as now or hereafter amended or ch~nged, and
all expenses incidental thereto, or in reimbursement of City funds expended
therefor. Any surplus remaining after payment of all costs and all legal
charges, claims and expenses shall be used as set forth in said proceedings.
9. Redemption P'und. The Tr~asurer shall keep a redemption fund
designated by the name of the bonds, into which shall be placed any ace-rued
interest and alt SUllS received from the collection of unpaid assessments
provided for in Section 11 hereof, and of the interest and penalties thereon,
and from which fund disbursement shall be made to pay the principal of the
bonds and the interest due thereon.
10. Bond R.egbler. The Treasurer shall keep or cause to be kept a
register showing the teriea, number, date, .. ount, rate of intereat, the last
3
. . :1 •
known holder of each bond, and the number and amount of each interest coupon
paid. The Treasurer 9ha11 cancel or cause to be canceled each bond and coupon
peid.
11. Collection of Unpaid Assessments. The unpaid assessments shown on
•aid Hat, together with the interest thereon, shall be payable in annual
•eriea correaponding in nuaber to the number. of serial maturities of the bonds
h.aued. An •nnual proportion of each unpaid assesl!lment shall be payable in
each year preceding the datiC! of maturity of each of the several series of
bond1 h1ued 9 1ufficient to pay the bonds when due, and such proportion of
each unpaid aHenment coming due in any. year, t;'.;gether with the annual
interett thereon, shall be payable in the same manner and at the same time and
in the same installments as the general taxes of the City on real property are
payabla, and beca.ae delinquent at the same timee and in the same proportionate
a.ount• and bear the same proportionate penalties and interest after
delinquency •• do the general taxes on real property within the City. All
a..-a received from the collection of said unpaid assenm.ents and of the
intere1t and penaltiea thereon sh~ll be placed in the redemption fund provided
for herein.
12. hdemption Prior to Maturitz. Each bond outstanding may be
redeeaed and paid in advance of maturity upon th'! second day of January or
July in any year by giving at lea8t 60 days notice and by paying the principal
amount thareot together vi.th a premium equal to 5% of the principal plus
int•reet to the date of advanced maturity, unless sooner surrendered, in which
event ••id intereet will be paid to the date of payment, all in the manner and
•• p~ovided ia Bond Plan G.
The TTeaaurer eball call for redemption and retire bonds upon prepayment
of •••••,..nt• in a.ovnta sufficient therefor, or whenever sufficient surplus
funds are available therefor in the re:deapticn fund. In selecting bonds for
retire.eat, the lowe1t numbered bonds of the various annual .aturities shall
be choaen pro rata in a ma.Mer intended to disturb ae little as possible the
relatlonahlp of uapaid ••••• ... at• to bonda outstanding.
Uv b1htration look. AG appropriate book shall be kept in the
office of the Pa7lo1 Aaent, •• bond regietrar, ehowing at all time• what bonds
4
. , •
are registered and in whose n~•, and, upon pre-sentation of the bonds for
such purpo•et the Paying Agent sh~~~, and under such re4sonabl~ regulations as
the Paying Agent may prescribe, register or transfer or cause to be registered
or transferred, in said registry book, the bonds as herein provided.
14. Registration and Transfer of Coupon Bonds. Each coupon bond herein
authorized may be registet'ed a.w to both principal and interest or as to
principal only, upon the vritten request of the holder and upon. presentation
of the bood to the Paying Agent for such purpose.
(a) Princ~pal and Interest. When a coupon bond is presented for
registration as to both principal and interest, tbe coupons shal 1 be removed
th~refrom and canceled (or preserved in a place of safekeeping, at the option
of the Paying Agent), and the number of the bond, the name and address of the
holder in whose name it is to be registered, the date of such registration and
a notation that the bond is registered as to both principal and inerest shall
be entered in the registry book, and appropt.iate endorsement thereof shall be
made by the Paying Agent in the spaee provided therefor on th~ back of the
bond. Until such registration is diaeharged as hereinafter provided, the
interest when due shall be payable only to the registered owner and the
principal when due shall be ~ayable only to such owner upon surrender of the
bond to the Paying Agent.
{b} Principal Only. When a coupon bond is presented for registration
as to principal only, the entries specified in the precediag paragraph shall
be .. de in the registry book and on the bond, except that a notation. in said
book and on said bond shall indicate that the bond is registered as to
principal only. In such case, the eoupoua remain ne&otiable and transf0rable
by delivery atad shall not be removed from the bond. Interest on such bond
shall be paid to or upon the order of the percon presenting the coupons for
peyaent; princi,al, however, shall be paid only to the registered owner upon
aurt:ender of auch bond to the Paying Agent.
Cc} Transfer. A registered coupon bond may be tra~sferred only by the
rcaictered owner, in per1on or by attorney duly •utborbed in writing, by a
written inatrusent of trat1.1fer in fora accept~ble to the Paying Agent, and by
s
..
the Paying Agent endort'!ing such transfer on the bond and in the registry
book. No transfer shall be required to be made during the fifteen (15) days
next preceding an interest payment date.
(d) Discharge from Registration. A registered ·coupon bond may be
discharged from registration upon written request of the registered owner. In
such case, the Paying Agent shall transfer the bond to bearer by appropriate
endorsement on the bond and in the registry book, cause all unmatured coupons
that have been removed from the bond to be reattached to the bond (such
coupons to be reprinted, if necessary), and deliver the bond and coupons to
the owne:c, and thereupon negotiability and transferability by delivery shall
be restored.
(e) Reregistration. Coupon bonds that have been discharged from
registration are subject to successive registretions and transfers in the
manner heretofore provided.
(f) Charges. 'nle person requesting ;egistration, trans!er or diecharge
from registration of coupon bonds sba 11, as a condition pTecedent to the
exerche of aucb privilege, pay the reasonable eharges of the Paying Agent
therefor, if any, including any cost of reprinting the coupons and any tax or
other governmental charge required to be paid with respect thereto.
15. Ron-Arbitrage Covenant. The City hereby covenants with the holders
of the bond• that it will .. ke no use of the proceeds of the bonds at any time
during the tera thereof which, if such use had been reasonably expected on the
date tbe bond1 were issued, would have caused the bonds to be arbitrage bonds
within the meaning of Section 103(c) of the Internal Revenue Code of 1954, as
amended, and the Teaporary and Proposed Treasury Regulations promulgated
thereunder.
16. Certificate •• to Ron-Arbitrage~ On the basis of the facts,
estimates and circwaatance1 now in existence and in existence on the date of
issue of the bonds, a1 detet'l'iined by the Treasurer, said Treasurer is
authorized to certify that it ii not expected that the proceeds of the issue
will be used in a .. naeT th.at would cauae such obligations to be arbitrage
6
.. •' . •
bonds. Such certification shall be delivered to the putchaeer at the time of
deli\'~ry and payment for the bonda.
17. Certified Copies. The City Clerk ahall furnish a certified copy of
this resolution to the Treasurer and to the Controller of Santa Clara County
and to the Paying Agent.
* * * * * * * * * *
I hereby certify that the foregoing is a full, tru1e and correct copy of
a resolution duly passed and adopted by the Council of the City of Palo Alto,
California, at a meeting thereof held on the 2 day of February , 1981,
by the following v~te of the members thereof:
AYES, and in favor thereof, Councilmembers: Bechtel, Eyerly, Fazzino, Fletcher,
NO£S, Councilmem-oera: None Henderson, Levy~ RenLel, Witherspoon
ABSENT, Counci lmembers: None
NOT PARTICIPATING: None
City Clerk Alto-
APPROVED:
~ J.t._ ,14 44?o-Mayor '
7
•' .
LIST OF UNPAID ASSESSMENTS
CITY OF PALO ALTO
UNDERGROUND UTILITIES CONVERSION
UNDERGROUND UTILITY ASSESSMENT DISTRICT NO. 20
OWNER
Albert F. & Janet A~ Antolick
Philip De Brincat
Barbara Bolitho & Leonard Weisberg~ et al
M. Pamela Walker, et al Walker, Trustee
Bernice Christensen {Nordstrom)
William J. & Wanda M. Boyle
John L. & Constance Hyde
Mary A. Kushnick
Mary Martin
Roger W. Holliday et al, Rhoan~ Janice M.
Ric.hard A. & Ann C. Peters
Roy & Haney Ginsberg
Elizabeth Wing
Frieda & William H. Brams
Paul Watzl a wick
Klaus & Gertrudis E. ·Eichstadt
Thomas A. & June H. Souza
Herbert C. & Sinclare N. Browne
Richard C. & Patricia N. Weaver
Mrs. ·s. DeMattos (Silveira)
Robert & Sheila Lewis
Pedro & Mary Marcal
Patricia Hiss
Thomas & Carolyn Reese
Timothy & Lorf nda Reichert
June M. Judge
John & Helene Fried
James & Marilyn Coghlin
Samuel & Kay Mr ffat
Robert B. & ¥4 ngsley Jack
James & M;i.. cia French
George & Susan Richardson
Ph1111p ~Sara Salsbury
Gerald & Miriam Friedland
EXHIBIT "A"
PARCEL NO.
3-22-01
3-27-40
3-27~2
3-27-36
3-27-35
3-27-26
3-27-24
3-27-37
3-27-28
3-27-29
3-27-23
3-27-19
3-27-49
3 ... 21-so
3-27-51
3-27-32
3-27-30
3-27-18
3-27-56
3M27-59
3-20-46
3-27-62
3-27-69
3-27-9
3-27-10
3-22-51
3-27-3
3-22-50
3-22-49
3-27-72
3-22-45
3-27-13
3-22-43
3-22-40
PRINCIPAL
$ 898.00
898.00
938.00
898.00
840.00
898.00
540.00
938.00
938.00
898.00
1.276.10
898.00
898.00
938.00
938.00
915.00
990.00
690.00
710.00
898.00
898.00
938.00
938.00
1,477 .oo
898.00
898.00
938.00
1.332.45
898.00
938.CO
1,300~60
938.00
900.00
1,330.00
·. . ' ...
OWNER
Peter F. McElroy
William & Carolyn Reller
John S. & Bette J. Stephens
Joseph & Jane Reber
Frank & Margaret Morrow
Brooks & Virginfa Wilder
Marilyn Wil 1 iams & Billy Fie kl in
Dr. Hunter & Mrs. Ann Little
Marc F. & Sophia M Abramson
f
David & Anne M. Steinberg
P. H. & Barbara Pande
Harry & Harriette Glaze
Mallory A. Combs
Eliot 0. & Sondra Klugman
Kenneth & Harde Ross
Willi am & Winifred Forse
John P. & Kathleen Kelley
Robert & Kathleen Luchini
Michael & Gwendolyn Barry
E. Gilbert & Sally M. Ellenberger
Robert & Elizabeth Meltzer
Charles & Mary Schmitt
H. P. & Phyllis ·sherlock
Harold & Iris Korol
Glenn & Nancy Mueller
Roy F. & Joan M Gray
Jeffrey & Lucy Stack
Homer B. & Helen L. Thompson
Jackson P. & Sue Greenwood
Willia• & Janet Preston
Gabrielle 5 William Kartozian
Warren & Jane Higgins
Belson & Belen Weinateiu
.. --.
Total
PARCEL HO.
3-22-42
3-22-41
3-27-15
3-27-16
3-22-23
3-22-32
3-22-19
3-22-18
3-22-37
3-22-39
3-20-49
3-20-45
3-20-48
3-22-10
3-22-11
3-20-27
3~20-26
3-20-30
3-20-25
3-20-31
3-20-24
3-20-23
3-20-22
3-20-20
3-20-36
3-20-34
3-20-39
3-20-17
3-20-40
3-20-3
3-20-6
3-20-3
3-27-68
PRINCIPAL
$890.00
938 .00 ..
915.00
898.00
938.00
896.00 '
1 ~276 .10 .
898 .00 :.
840.00
590.00
898.00
938.00
760.00.
990.00
938.00
898.00
938.00
938.00
938.00
938.00
1~330.00
938.00
938.00
898.00
938.00
990.00
938.00
890.00
898.00
938.00
898.00
9~J.OO
938.00
$63,282.25
. . .. .... ... ~ ~
Bond Numbers
(Inclusive)
l
2-11
12-23
24-36
37-50
51-64
CITY or PALO ALTO
URDERGIOUICD UTILITIES CONV!RSIOB
UNDERGIOUllD UTILITY ASSESSMENT DISTRICT RO. 20
$63,282.25 IMPROVEMENT BONDS, SERIES
Total
Principal
Denomin&tion ltaount
$ Z82.25 $ 282.25
1,000.00 10,000.00
1~000.00 12,000.00
1,000.00 13,000.00
1,000.00 14,000.00
1,000.00 14,000.00
EXHIBIT "B"
Maturity
Date
July 2, 1982
July 2, 1982
July 2, 1983
July 2, 1984
July 2, 1985
July 2, 1986
e •
BOND FORM. The bond• ehall be •ub•tantially in the following form:
UIUTED STATES OP AME.llICA
STATE OF CALU'OIUCIA COUNTY or SANTA CLARA
BOND NO.
IMPROVEMENT BOND
CITY OP PALO ALTO
UNDERGllOUND CON'JE&SlON PROJECT
UNDERGROUND IITILITY ASSESSMENT DISTRICT NO. 20
SERIES
$ _____ _
Under and by virtue of Bond Plan B, Section 13.16.110 of the Palr' Alto
Municipal Code, analagous to the Improvement Bond Act of 1915, Division 10 of
the Streets and Highways Code, the City of Palo Alto, State of California,
will, on the second day of July, , out of the redemption fund for the
payment of the bonds issued upon the unpaid portion of the assessments made
for the acquisition, work and improvements more fully described in the
proceedings taken pursuant to Resolutiiln No. 5678, A Resolution of Intention
to Amend Section 12.16.020 of Chapter 12.16 of Title 12 of the Palo Al to
Municipal Code by Establishing Underground Utility District #20, adopted by
the Council of said City on the 30th day of April, 19791 pay to bearer (or, if
this bond is registered aa herein provided, to the registered owner hereof)
the sum of
with interest thereon from the second day of March, 1981, at the rate of seven
and 5/100 percent (7 .05%) per annum, all as is hereinafter specified, and at
the office of the Treasurer of said City.
This bond is one of several annual series of bonds of like date, tenor
and effect, but differing in mounts and maturities, issued by said City under
said law for the purpose of providing means for paying for the acquisition,
work and improvements described in said proceedings, and is secured by the
moneys in said redemption fund and by the unpaid portion of the assessments
made for the payment of said acquisition, work and improvements, and,
including pri~cipal and interest, is payable exclusively out of said fund.
The interest is payable semiannually, to wit: On the second day of
January and July in each year hereafter, upon presentation of the proper
coupons therefor; provided, that the first of said coupons is for the interest
to the second day of January, 1982, and thereafter the interest coupons are
for the semiannual interest.
This bond will continue to bear interest aft:er maturity at the rate
above stated; provided, it ie presented at maturity and payment thereo~ is
refused upon the sole ground that there is not sufficient money in said
redeaption fund with which to pay same; if it is not presented at maturity,
interest thereon will run until maturity.
This bond may be registered as to principal and interest or as to
principal only, with the privilege of transfer, discharge frora registration
and aucceesive registration, upon written request of the owner and
presentation of the bond to the Treasurer, who shall be the Registrar
therefor, and payaent of the charges, if any, all as set forth in the
resolution providing for the issuan~e hereof.
EXHIBIT ncn
t .... .... • • ,\ ..
Thie bond uy be redeemed and paid in advance of •turity upon t~e
second day of January or July in any year by giving the notice provided in
said law and by paying principal and accrued interut together with a premit.111
equal to five per centum of the principal.
IN WITNESS WR!UOP', eaid City of Palo Alto has caused thie bond to be
signed by the Treasurer of eaid City and by it1 Clerk, has caused the coupons
attached hereto to be signed by the Treasurer, and has caused its Clerk to
affix hereto its official seal, all on the second day of March, 1981.
Treasurer Clerk
(SEAL)
COUPON FORM. The coupons to be attached to the bonds shall be
substantially in the following form:
On the second day of , 19 ------CITY OF PALO ALTO, California, will pay to
bearer the sum hereon (unless the herein
designated bond is redeemed prior thereto)
at the principal office of its Paying Agent,
Bank of America National Trust and Savings
Association, in San Francisco, California,
as interest on Improvement Bond Underground
Utilities Conversion, Underground Utility
Assessment District 80. 20, Series
Treasurer of the City of Palo Alto
$
Coupon No.
Bond No.
REGISTRATION FORM. The form of endorsement for registration on the
bonds shall be substantially as follows:
This bond is registered in the name of the registered owner last entered
belcnt and both the principal of and interest on this bond are payable only to
·such owner, unless registered as to principal only, in which event cnly the
principal is so payable; provided that this bond may ~e registered to bearer
and thereby discharged from registration and the negotiability hereof restored.
Note: No writing below except by the Registrar.
Date of Type of Name and Addrese
_R_e-=g'-i_s_t_r..,,.y ___ ...,,Re,__.f,._i_s...,t,....r_a..,,,t,__i_o_n....,,*,__.-----o-f_R_e...:g..._i_a_~ered Owner
Pt't.ncipal only
and Int~r~st
Pri.nci.pal only
and Interest
Princi.pal only
and Interest
Principal only
and Interest
Signature of
Registrar
*If registreation is as to principal only, strike tlte .words "and Interest"; if
as to principal and iterest, strike the word "only".
EXHIBIT "C"
(ii)
-~ i..._ .• :._--:"' ;--~--""··· -.,-'-. c':. ":::.:-·:..-..· ~-:.:_..;:,c-..;::"':;:.".:..• £...".;,.· .:::"..:..;.•-;;.,,;,' -;;;;;;:_• __;_ ___________________________ _
• . . •
I hereby certify that the foregoing is a full, true and correct
copy of a resolution duly passed and adopted by the Council of the
City of Palo Alto, California, at a meeting thereof held on the 21st
day of _Ma_r_c_h _____ , 197]_, by the following vote of the members
thereof:
AYES, and in favor thereof, Councilmembers: Beahra, Berwald, carey,
Clay, Comatock, Eyerly, Norton, Witherspoon
NOES,
ABSENT,
APPROVED:
Approved:
Councilmembers: None
Couucilmembers: Sher
City
~~ "' s0n,d--·C> ei
alo Alto