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Home My WebLink AboutRESO 1369L_ L. ·"'""", ,.,,_,..,"_ . .,....,..1,.,..,,,F""'~' ·~• .. •·•-•,.,.n.., .. ,., ., •••"" ,.,.,,.~'·'"· -·· •• _,.,. • •J···-,,_ ...... ,..~.~_,,,...,,,,l'lol-~.l~;w,!~l·'~'·~~~~. RESOLUTION PROVIDIKG FOR THB I35UABCE OP BOROS IOe 1369 RESOLVED, by the City Council or the C1ty ot Palo Alto, Calitornia, that WHEREAS, said Council did on the 8th da7 ot September, 19-1, pass and a.dopt ita Resolution or Intention llo. 13._1 relating to certain vork to be done and ~roveaenta to be made 1n aa1d Cit7, under and purauant to tho provisions or Article V ot Ordinance lfo. 844 or said ci t7, adopted Janua17 13, 1941, entitled •Palo Alto lmproveaent Procedure Code•, and did there- in provido that aerial bonds would be iaeued thereunder pursuant to the provisions or Part 4, Bond Plan C ot Article IV or said Code, l'e!erence to a&id roeolut 10n of intention b~ing herby expressly made tor turther particulars; WHIR!AS, on Marcn 9, 1942 the Superintendent or Streets or said City or Palo A.1.t0 tiled v1th the Clerk or said City a complete list ot all aaaoaamante unpaid thereunder upon the respective aaaeaament and diagram numbers thereon, whereupon said Clerk gave notice ot tbe tiling ot aa1d liat and fixed 1n aaid not1oe Monday, the l'th day ot April, 1942, at the hour ot 7:30 o •clock P .. M. as the time when interested persona might appear before the City Council of said City or Palo Alto at the regular meeting place ot maid Council 1n the City Hall 1n said City, &n4 ahov cause why bonds ehould not be issued UPon the security of the unpaid aaaoaamenta shown on said l1et, all or vhich appears from attidavits on file 1n the ottice ot said Clerk; WHBRBAS, no protests or objections against the issuance ot said bonda vere presented before or at the time fixed tor ae.1d hearing. BOW, TBXREFORE, IT IS HER&BY RESOLVED ARD FOUND AND DBTBRNIRBD by said City Council ot the City or Palo Alto, as f'ollovs: l. That aaid list ot aeseaamanta unpaid tiled. by said Superintendent or Streets as aforesaid was at the time or t111ng thereof in all respects complet~ and correct, and that since the tiling thereof no aaseaementa bave been paid and also that the unpaid aaaeaementa 1n the proceedings duly bad and taken UDder and pureuant to Baid Resolution or Intention Bo. 1341 are as tollova: (See original resolution 1n Pile B-7 tor list or unpaid aaaeaaments~) 2. That the total or aggregate amount ot said assesementa unpaid is the sum or $27,025.33. 3. That tor a particular deaor1pt1on ot the lots bearing the respective assessment numbers above set forth and upon vh!ch &8Sesamente remain unpaid as above stated~ aeverally and respect- ively, reference 1s he~eby made to said assessment and to the diagru recol'ded 1n the office ot the a.e.id Superintendent ot Streets after contirmat1on by said City Council the several lots represented b7 said aaaesament numbers above set torth being so 407 • • • • • • • • c> • • • • • • ·~ ·~···--~" .. ~-··-···~···-···-........... ~ ...... -....... .,_ ..... , ........ ~ _._ .. ,_ ... _.~ .......................... ··~···-..... ,_ ..... ~-~···-'''""'" 408 numbered and deaignated upon aa1d d1agraa &D4 aaaoaament as so confirmed And recorded, aeverally and reapectivelJ. 4. That bonds shall be issued upon the security of said unpaid aaaesaaenta 1n the said amount ot $27,025.33 in accordance vith. the proviaions ot Part 4, BoDd Plan C ot Article IV or the Palo Alto Improvement Procedure COde, and under and pursuant to the provta1ona ot said. Resolution ot Intention No. 13·41 and the proceedings thereunder d.ul7 had &DIS taken; th&t said bonda shall be forty-one (.lf.l) in .number, shAll be dated .March 9,. 19lf.2, aDd bear interest at the rate o1" thl'ee per cent (3.0<>.') per annum from March 9, 1942; and the d.enoa1Dat1on or a&id. bonds and the interest coupone required to t~o attached thel'eto, vith their respective numbers and dates ot maturit7, are &a tollowa: (See original resolution 1n Pile E-7 tor list or bonds, shoving number, denomination and date ot maturity.) · · With reference to said banda baving a denomination or $l000eOO, the first eo~on attached to each ot aaid bonds shall have a denomination ot $24.50, and the subsequent coupons attached to each or aa1d. bonds abAll have a denomination or $15.00. With ref"erenoe to aaid bonds having a c1e.n.om.tnat1on ot $500.00, the first coupon attached to eech ot na1d bonds shall have a denom- 1nat1o& ot $12.25, and the subseque11t cou,pona attached to eaoh or said. bonds shall have a denomination ot $7.50. · With reference to said bonds having a denomination ot $200;09, t.he t1J-at coupon atta. abed to each of said bond a shall have a denom1nat1on or $4~90.. and the subsequent coupons attached to each of sa1d bonds 8hall have a denomination ot $3.00. With reference to said bonds having a denomination ot $25.33, the first coupon attac~ed to said bond shall have a denomination oi" $0.62, a.nd the subsequent co\ij)on attached to aaid bond shall have a denomination of f0.38. 5. That said bonds shall be iaaued 1n aer1ea, and the unpa.id aaaeaaments aa shown on said list tiled by the 5"tWer1ntendent ot Streets and determined by said City Council, together with the int- erest thereon, shall remain and constitute a trust fund tor the redemption and payment ot said bonds and or the interest vh1ch may be due thereon, vh1ch unpaid aasesements shall be payable 1n annual aeries corresponding 1n number to the number ot series or bonda 1•- eued, and an even annual proportion ot each assessment shall be pa7able in each year preceding the dato of the matur1t~ tor each of the several series or bonds issued, and such proportion ot each aaseasJHnt coming due 1n any ,-ear, togother vith the annual interest thereon, shall 1n turn be payable 1n installaents as the general taxee ot said oit7 on real property are pa,a~le, and shall become delinquent at the same time and in the same proportionate amoun~a aDd bear the same proportionate penalties tor delinquenc,-. Said bonds shall be signed by the Treasurer and Ma,-or ot the City or Palo Alto, &Dd countersigned by the Clerk or said City who shall attix thereto the ott1oial seal of said citYJ the tntereat coupons affixed thereto aball be signed b7 aa1d Treasurer or bear his engrav8d, printed., or lithographed. aipature, &Dd such signing and sealing or said bonds b7 aaid ott1cers, and signing ot said coupons by aaid treasurer, shall constitute and be a sutr1c1ent and binding execution ot each and ever,. one ot said bonds and all of the coupons thereof reepectiveli. Said bonds shall be substantially 1n the torm set forth 1n Bond Plan C of ~'.-... .--....-•1"1-"' 0'1 t"'"" = .... ~ .J I _.! J I f j I ' .,, ~ • • • • • • • • -~ . . . ~ i ~ L_ • • ••. , ............................ ~·· .. '"''"'"' ... ," ... I'+"<<-.. .. ~~·· ' .................... _.. .• • • .... . , ....... , ................... , ....... ,w '·'-''' ,,.~ .,., """:'!f,'!l·~--···!'·-.. ~~;"~- Article IV of aaid Palo Alto Improv.mant P~ocedure Code; aa1d t~easurer and sa1~ mayor and said olerk·are herebJ authorized and directed to eo a1gn and countersign reapeot1vely. 6. 'rbat the 1IJ.tereat coupons attached to each of said bonc1s and ev1denc.1ng the interest to accrue thereon ehall bo numbered consecutively and be eub5tantially 1n the rolloving form, to-wit: Coupon Bo. CITY OJ' P .ALO AIJrO SAif.rA CLARA COUI'.rY CAL!POUU ·----· Will pay to bearer hereof on the 2nd da7 ot , 19 , at the otfice or the ~reasurer or ea1d City, -- the sum or Dollars (~.... ) aaid sum being the semi-annual interest due on Dated:. Dlproveraent Bond No« ot Series No. ---------------- Treasurer or the City or Palo lito. * * * * • * * • * * I hereby cer·t1f)r the t'orego~ to be a true copy or resolution adopt&O by the City Council or the City or Palo Alto, California, at a regular meetir.g thereof held on the 13th day ot April, 1.942/'J by the tolloving vote or the members thereof; Ayes, and in favor thereof, Councilmen: 409 Bentrott, Bloia, Cypher, Ho7, Morten, Reed, Southwood, Thoits. Noes, Councilmen: None; Absent, Councilmen: Cashel, Merner, Mitchell, Radford, Richards, Thomas, Wood. aL,L,L.~ Cit;t ~Cierk)'f the City ot Pe.To Alto APPROVED: ~-;_. . ·' ... ' 1 ~ ~ ~ t ' • •