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R E 3 0 I, U T I 0 'N I 0. 9M
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f'Jt§2~TION P~Vl:OUHl_~R THE ~AU! OP' PAil) AL'7'<l ~qSPI'l'AL
BOlDS OP 1&31
The Council ot the C1t1 ot Palo Alto 00 RESOLVE
aa follows: ·
ll!lDEAS, th• 00Wl011 ot the CitJ ot Palo Alto,
pursuant to call therefor, haa rece~ved b1da tor the aale
or Palo Alto Hoapttal Bonda ot 1931 which bonds are dated
Januai'J 2, 1~1 aD4 oona1ata ot two huudre4 tort,. (2,0)
bond& of the 4enodne.t1on of One ThouaAnd Dollara {111 000.00)
ttsoh aDd torty (tO) bondtl ot the denom1nat1on of tt'wo
Hundred P1ftJ Dol:lara (t250~00) each, one-fortieth part ot the principal ot aa1d bonda being payable •aoh and
ever,· year tram and after their date, bear1ng intereat
at the rate ot f1Te per cent (S.}, pa7able aem1-annually; Qnd
WHEREAS, the Counc 11 d1d tAt 1 te meeting on
Je.nuary 12, 1131 open. examine and deolllN publicly all
propoaala or b1da received tor aaid bonds;
NOW, THKREPORE, this council doee hereby rtnd
that the bid of the First Detroit Company tor the par Yalue
ot aa1d bonds, plua acol'Ued 1nter..at &nd a prem1um of
124,808.00 1a the beat bid ottered tor aaid bonds;
XOW, THERBFORI, th1a Council does hereby order
that satd Palo Alto Hospital Bonde or 1931 be and ·the atme
are hereby sold to the First Detroit Company tor thG sum or par, accrued interest to date or d.sl1very and a prem1uz ot f24,808.00 in •ocordanoe w·tth 1te bid ..
Upon the payment ot aa1d sum or mono:r 1nto the
Tretaury of the City ot Palo Alto the City Treasurer 1s
hereby authorized to deliver said bond& properly executed
as directed b7 ord1nnnce or th1a Council to the First
Detroit Company.
The above and foregoing re10lut1on was duly
passed at a regular meeting of the Council ot the City
ot Palo Alto hald on January 12, 1931 by the following
vote:
AYES:
·tro~S:
A&sENT:
At teat:
Miss Baugh, Bertsche Cathcart, ~hrietensen,
Hobart, lohnaon, Keliy. JUdson, Lauaten, Mosher, Tbo1ta, Thomas.
Wone .•
Mitchell, Kra. Thomas, Wood.
Approved: c.~~fH-. Jlayor ~{(wh
City Clerk
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