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Home My WebLink AboutRESO 1969t ... t i 368 ~ i ( ' t . J . R E S 0 L U T I 0 N ----------N 0 • --1969 PROVIDING FOR THE ISSUANCE OF BONDS ST. FRANCIS TERRACE PROJECT NO. 49-6 RESOLVED 11 by the City Council of the City of Palo Alto, ca11rornia 1 that WHEREAS, said Council did on the 12th day of September, 1949, adopt its Resolution of Intention No. 1883 relating to certain work to be done and improvements and acquisitions to be made in saJ.d City undei· and pursuant to the provisions of Article Y er Ordinance No. 844 or sa1d Cit;, adopte~ January 13 1 1941, entitled 11 Palo Al to Improvement P:rocedure Code", and did therein provide that serial bonds would be :Lsaued thereunder pursuant to the pro- visions of Part 4, Bond Plan C of Article rv or aaid Code, refer- ence to said Resolution or Intention being hereby expressly made for rurther particulars; WHEREAS, on March 13, 1950, the Superintendent of Streets of said City of Palo Al to .filed w1 th the Clerk or said City a con- plete list of all assessments unpaid thereunder upon the respec- tive assessment and diagram numbe:rethereon,. whereupon said Clerk 6ave notice of the filing of' said list and fixed 1n sald notice Monda:y-,, the 10th day of April,, 1950 .• at the hour of 7:30 o'clock P. M., aa the time when interested persons might appear before the City Council of said City, at the regular meeting place of said C·:iunc11 1n the City Hall in said City, and show cause why bonds should not be issued upon the security of' the unpaid assessments snown on said list, all of which appears from affidavits on file in the office of said Clerk; WHEREAS~ no protests or objections against the issuance of said bonds were presented before or at the time fixed for said hearing; Now, 'l'HEREFORE, IT rs rmREBY RESOLVED, FOUND AND DETERMINF.D, as follows: 1. That said list of assessments unpaid filed by said Super- intendent )f Streets as aforesaid was at the time or. filing there- of 1n nll respects complete and correct, and that since the filing thereof no assessments have been paid and also that the unpaid a~sesaments 1n the proceec!ngs duly had and taken under and pur- suant to said Resolution or Intention are as follows: .Assessment No. i-- 2 11 12 13 15 16 19 21 22 30 31 33 35 §~ 39 Amour.t * 36.~l 31.75 34.94 35.34 35.34 35.34 35.34 31.12 34.scs 31.75 34,9~ 36.90 35.34 35.34 35.34 35.34 31.75 Assessment No. 52" ~~ 55 58 61 62 63 66 70 73 76 78 80 81 82 86 Amount $165.78 123.27 42.51 165.78 270.20 33.31 43.14 38.65 32.48 46.57 39.41 38.02 36.28 40.48 37.62 32.73 38.63 j J I l 1 ' 1 :r 1 J! I i l . I . i . L: • .... _,..-.• "-•.--.......... ,.,,,..._._ .... _,,.,"~'.......,,",..''"~·..-•n""'""'"'_,,, __ .,.~_......,_,l/~i.--.... _ .. ,._.,,...,, .. ~ .. "_"_"• ... •~••'""'"''~'~••••""'••~~·•-""--""-------·-------h•• Assessment No. 40 43 45 46 47 48 49 50 51 $ Amount 34.43 35.34 35.34 35.34 35.34 35-34 34.34 37.57 169.10 Assessment No. gA 96 98 103 105 106 108 110 Amount * 34.88 34.15 30.64 34.74 49.19 36.71 41.70 40.90 _3~~ $2,~ 2. That for a particular deacr1pt1on of the lots bearing the respective assessment numbers above eet forth an<.\ upon which assessments remain unpaid as above stated, severally and respec- tively, reference is hereby made to said assessment and to the diagram recorded in the office of the said Superintendent of Streets after confirmation by aaid City Council, the several lots represented by said asaeasment numbers above set forth being so numbe~ed and designated upo~ said diagram and assessment as so confirmed and recorded, severally and ~eapectively. 3. That the total or aggregate amount or said as3easments unpaid is the sum of $2,594.34. 4. That bonds shall be issued upon the security or said un- paid assessments in the said amount or $2,594.30 1n accordance w1th the provisions of Part 4, Bond Plan C of Article IV of the Pale Alto Improvement Procedure Code, and under and pursuant to the provisions or Resolution of Intention No. 1883 and the pro- ceedings thereunder duly had and taken; that said. bonds shall be ten (10) in number, shall be dated March 13, 1950, and bear interest at the rate or not to exceed four per cent (4%) per annum from March 13, 1950, and the denomination or said bonds and their respective numbers and dates of maturity are as follows: Series No. Bond Number• Denomination Date or Maturitz MM 1 $259.43 July 2, 1951 2 259.43 July 2, 1952 3 259.43 July 2, 1953 4 259.43 July 2, 1954 5 259.43 July 2, 1955 6 259.43 July 2, 1956 7 259.43 July 2, 1957 8 259.43 July 2, 1958 9 259.43 July 2, 1959 10 :;259.43 July 2, 1960 5. That said bonds shall be issued in series, and the unpaid assessments as shown on said list filed by the Superintendent of Streets and determined by said City Council, together with the interest thereon, shall remain and constitute a truet fund for the redemption and payment of ::1aid bonds and or the interest which may be due thereon, which unpaid assessments shall be payable to annual series corresponding 1n number to the number of series of bonda issued, and an even annual proportion of each assessment 369 . • • • • • • • • .,.,.....,.._,., .. , ....... "' f ~ 370 ~ " ~~ :~ 1' ii ~ 2 shall be payable in each year preceding the date of the maturity for each or the several series of bonds issued, and such pro- portion of each assessment coming due in any year, together with the a~nu.al interest thereon, shall in turn be payable 1n install-ment~· as the general taxea of said City on real property are payable, and shll become delinquent at the same t1mea and in the same proportionate amounts and bear the same proportionate penalties for delinquency. That the signatures of the Mayor and Treasurer be 1npressed upon said bonds by engraved or lithographed process and that said City Clerk physically sign said bonds and affix thereto the cor- porate seal or said City; the interest coupons affixed thereto shall be signed by said 'I'reasurer or bear his engraved, printed or lithographed signature; and such signing and sealing of aaid bonds by said officers, and signing or said coupons by 3aid Treasurer, shall constitute and be a sufficient and binding exe- cution or each and every one of said bonds and all of the coupons thereof respectively. Said bonds shall be substantially in the form set forth 1n Bond Plan C of Article IV of said Palo Alto Im- provement Procedure Code; said Treasurer and said Mayor and said Clerk are hereby authorized and d:t.rected to sign and attest respectively. 6. That the interest coupons attached to each or said bonds and evidencing the interest to accrue thereon shall 'be numbered consccut1 vely and be substant1all;)' in the following form., to-w1 t: Coupon No. $ ___ _ CITY OF PALO ALTO SANTA CLARA COUNTY, CALIFORNIA W111 pay to bearer hereof on the 2nd day of , 19 , at the office or ... t"'"R_e_T_r_e_a_a_u_r_e_r_o_!_oaid '?!rty, the sum of Dollars ($ ) _s_a_,.i .. d,_....s_u_m_o_e""'f_n_g-t"'"h_e_s-emi-annual interest due on Improvement Bond No. of Series No. MM Dated:.~~~~~~- Treasurer of the city or Palo Alto * * * * * * * I hereby certify the foregoing to be a true copy of resolu- tion adopted by the City Council of the City of Palo Alto, Califor- nia, at a regular meeting thereof held on the 10th day of April, 1950, by the following vote: AYES, and in favor thereof, Councilmen: Blois, Bolander, Bowden, Bower, Cashel, Cathcart, Freedman, Gaspar, Linder~ Mitchell, Montreuil, Morten, Wickett. NOES, Councilmen: None. ABSENT, Councilmen: Bentrott, Hill. ~ ,(;' ~ ~lty eier:o.:Y oi'itai !to APPROVED: ~ Mayor /I I j u ! ! I i ( l ' . ' .l . I . ' ~ J J.