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R E S 0 L U T I 0 N N 0 • 2020 ----------
PROVIDING FOR THE ISSU.\NCE OF BONDS
CALIFORNIA AVENUE DISTRICT
ACQUISITIONS AND IMPROVEMENTS
PROJEC'r NO. 48-9
RF..SOLVED, by the Council or the City of Palo Alto, California,
th3.t
WHEREAS, said Council did on the 26th day or July, 1948, adopt
1 ts Resolution cf Ir1tent1on No. 1721 relating to certain work to be
done and improvements and acquieitions to be made :'..n said City
under and pursuant to the provisions of Article V of Ordinance No.
844 of said City, adt,pted January 13, 1941, ent1 tled "Palo Al to
Improvement Procedure Code", and did therein provide that serial
bonda would be issued thereunder puruo.ant to the provisions of Part
4, Bond Plan C of Article Dl of said Code, reference to said Reso-
lution of Intention being hereby expressly made for further par-
ticulars.:
WHEREAS .• on July 28, 1950, the Si.iper1r1tendent or Streets of
said C1ty of Palo Alto filed w1tl1 the Clerk of' sa.id City a complete
list of all assessments unpaid thereunder upon the respective
assessment and diagram numbers thereon, whereupon aald Clem gave
notice of the filing of said list and fixed ln said notice Monday,
the 28th day or August, 1950, at the hour of 7:30 o'clock P.M., as
the time when interested persons might appear before the Qounc11,
at the regular meetlng place of said Council 1n the City Hall in
said City, and show cause why bonds should not be issued upon the
securl ty of the unpaid assessmer1ts shown on said list, all of which
appears from affidavits on file !n the office of said Clerk;
WHEREAS, no protests or objections against the issuance of
said bonds were presented before or at the time flxed for said
hearing;
NOW, '!HERB.FORE, IT IS H!RBBY R830LVBD, FOUND and DETERMINED, as follows:
1. That said list of assessments unpald filed by said Super-
intendent or Streets as aforesaid was at the time or filing thereof
in alJ. respects complete and correct, and that since the filing
thex-eof no assessments have been paid and also that the unpaid
assessments 1n the proceedings duly had an~ taken under and pur3u-
a11t to said Resolution of Intention are a:i follows:
Assessment Assessr11ent
No. Amount No. Amount
l $ 1,723.56 47 $ 1,095.92
2 1,442.64 48 1,105.32
2-A 1,112.63 49 2,457.57
3 2,9989.67 52 3 .• 565.55 5-A 2,112.34 53 1,714.32
5-B 1,24~.04 54 55.34 6·-B ). , 71 . 63 56 2,935.16
7 278.45 56-A 1,221.24
7-.A. 358.20 59 2,4~0.40
9 i,018.01 60 9.80
10 2,814.61 64 49.80
11 4,240.98 66 2,988.45
12 1,179.14 67 49.80 13 800.26 68 542.2~ 14 1,831.00 69 44.2
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Assessment Assessment No. Amount No. Amount --16 $ 2,134.50 70 $ 4o8.26 18 1,403.63 71 463.43 19 2,.,6~.85 ~~ 2,976.61 20 ~1 .40 1,310.05 21 1,846.30 82 1,01~.13 2:? 1,344.63 83 1,15 .92 23 3,309.50 84 1,158.42 26 307.75 85 132. l 27 964.13 86 1,263.03 30 1,492.42 87 1,565.86 32 1, 751.04 88 1,,56§.86 33 1,916.87 89 20 .76 34. 1,013.60 90 5,944.15 36 " 493.39 92 7,025.15 37 4,133.98 93 73.07 38 617.00 95 l,893.81 39 189.84 99 i,129.1~ 44 942.21 100 1.682. 7 45 42~3. 52 101 313.15 46 2,966.06
$ 106,933.94
2. That for a particular deecr1pt1on or the lots bearing the
respective assessment numbers abov·e set forth and upon which
assessments remain unpald as above stated, severally and respec-
tively, reference 1s hereby made to said assessment and to the
diagram recorded 1n the office of the said Superintendent of
Streets after c.onfirma.t1on by said Council, the several lots repre-
sented by aait.1 assessment numbers above set forth he1ng so numbered
and designated upon said diagram and assessment as so confirmed and
recorded, severally and respectively.
3. That the total or aggregate amount of said assessments
unpaid is the sum of $106,933.94.
4. That bonds shall be issued upon the security of said unpaid
assessmentc 1n the said amount of $106,933.90 in accordance with the
provisions of Part 4, Bond Plan C of Article 'IV of the Palo Alto
Improvement Procedure Code, and under and pursuant to the prov1sionn
of Resolution or Intention No. 1721 and the proceedings thereurtder
duly had and taken; tha,t said bonds shall be one hundred twenty
(120) in number, shall be dated Jnly 28, 1950, and bear interest at
the rate of not to exceed four per cent (4%) per.annum from July 28,
1950, and the denomination of said bonds and their respective
numbers and dates of maturity are as follows:
Series No. Bond Number Denomination pate of Maturi~
NN l $ 1,000.00 July 2, 1951 2 1,,000.00 July 2, 1951
3 1,000.00 July 2, 1951 4 1,000.00 July 2, 1951
5 1,000.00 July 2, 1951 6 1,000.00 July 2, 1951
7 1,000.00 July 2, 1951 8 1,,000.00 July 2, 1951
9 1,000.00 July 2, 1951 10 1,000.00 July 2, 1951 11 500.00 July 2, 1951 12 193.39 July 2, 1951
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-147
Series No. Bond Number Denomination Date of Matur1t1
NN 13 $ 1,,000.00 July 2, 1952 14 1,000.00 July 2, 1952
15 1,000.00 July 2> 1952 16 1,000.00 July 2, 1952
i~ 1,000.00 July 2, 1952
1,000.00 July 2, 1952
l.~ 19 1,000.00 July 2, 1952
20 1,,000.00 July 2, 1952
21 1,000.00 July 2, 1952
22 1,000.00 July 2, 1952
~~ 500.00 July 2, 1952
193-39 July 2, 1952
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25 1,000.00 July 2, 1953 26 l,000.00 July 2,, 1953
27 l_,000.00 ·July 2, 1953 28 1,000.00 July 2, 1953 29 1,000.00 July 2, 1953
30 1,000.00 July 2, 1953 31 1,000.00 July 2, 1953
32 1,000.00 ~Tuly 2, 1953
33 1,000.00 July 2, 1953
34 1,,000.00 July 2, l953
35 500.00 July 2, 1953
36 193.39 July 2, 195~
37 1,000.00 July 2,, 1954
38 1,000.00 July 2, 1954
39 1,000.00 July 2, 1954
40 1,000.00 July 2, 1954 41 1,000.00 July 2, 1954 l . 42 1,000~00 July 2, 1954 L 43 1,000.00 July 2, 1954 44 1,000.00 July 2, 1954
45 1,000.00 J•1ly 2 J 1954 46 1,000.00 July 2, 1954 ft~ 500.00 July 2, 1954
193.39 July 2, 1954
49 1,000.00 July 2, 1955
50 1,000.00 J"u.ly 2, 1955 51 1,000.00 J:;:.ly 2' 1955 52 1,000.00 July 2, 1955
53 1,,000.00 July 2, 1955 54 1,000.00 July 2, 195~
55 1,000.00 July 2, 1955
56 1,000.00 July 2, 1955
57 1,000.00 July 2, 1955
58 1,000.00 July 2, 1955
59 500.00 J•1ly 2, 1955 Go 193,39 July 2 ·' 1955
61 1,000.00 July 2, 1956 62 1,000.00 July 2, 1956
63 1,000.00 July 2, 1956 64 1,000.00 July 2, 1956
65 1,000.00 July 2, 1956 66 1,000.00 July 2, 1956
67 1,000.00 July 2, 1956
68 1,000.00 July 2, 1956
69 1,000.00 July 2, 1956
70 1,000.00 July 2, 1956 71 500.00 July 2, 1956
72 193.39 July 2, 1956
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t Ser1es No. _!3on_Q_ Numl:!_~~ Denomination Date or Matur1tz ;-
NN 73 1,000.00 July 2, 1957 74 1,000.00 July 2, 1957 75 1,000.00 July 2, 1957 76 l,000.00 July 2, 1957 77 1,000.00 July 2, 1957 78 1,000 .. 00 July 2, 1957 79 1,000.00 July 2, l957 ~I 80 l,000.00 July 2, 1957 81 1,000.00 July 2, 1957 82 1,000.00 July 2, 1957 83 500.00 July 2, 1957 84 193.39 July 2, 1957
85 1,000.00 July 2, 1958 l 86 1,000.00 July 2, 1958 87 1,000.00 July 2, 1958 I 88 1,000.00 July 2, 1958 89 1,000.00 July 2, 1958
90 1,000.00 July 2, 1958 J 91 l,,000.00 July 2, 1958 ·~ 92 1,000.00 July 2, 1958 j q3 1,000.00 July 2 .• 1958 9~ lJ000.00 July 2, 1958 . :~ 95 500.00 July 2, 1958 ~ ~ 96 193-39 July 2, 195R ~
97 1,000.00 July 2, 1959 98 1,.000.00 July 2, 1959 99 1,000.00 July 2, 1959 100 1,000.00 July 2, 1959 101 1,000.00 July 2, 1959 102 1,000.00 July 2, 1959 ] 103 1,000.00 July 2, 1959 104 1,000.00 July 2, 1959 105 1,000.00 ,July 2, 1959 106 1,000.00 .ruly 2, 1959 107 500.00 July 2,, 1959 108 . 193.39 July 2, 1959
109 1,000.00 July 2, 1960 110 1,000.00 Jul:r 2, 1960 111 1,000.00 July 2, 1960 112 1,000.00 July 2 .. 1960
113 1,000.00 July 2, 1960 114 1,000.00 July 2, 1960
115 1,000.00 July 2, 1960 116 1,000.00 .July 2, 1960
11~ 1,000.00 July 2, J. 960
11 1,000.00 July 2, 1960 119 500.00 July 2, 1960 120 193.39 July 2, 1960
5. Th.at said bonds shall be issued in ser:l.es,, and the unpald
aasessments as shown on said list filed by the Superintendent of
Streets ar.d determined by sn1d Council, together with the interest
thereon, shall remain and constitute a trust fund for the redem?-] tion and p:1yment of said bonds and of the interest which may be due
thereon, which unpaid assessments shall be payable in annual series
corresponding in number to the number of series of bond issued, and
an eve11 annual proportion of each assessment shall be payable in
each year preceding the date of the maturity for each or the e.everul
aeries of bonds issued, and such proportion of each aaaessment
coming due 1n any year, together with the annual !nterest thereon,
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449
shall 1n turn be payable 1n installments as the general taxes or
said City on real property are payable1 and shall become delinquent
at the same times and 1n the same proportionate amo·.:nts and bear
the same proportionate penalties ror delinquency.
That the signatures of the Mayor and Treasurer be impressed
i.J.pon said bonds by ~mgraved or 11 thographed process and that said
Clty Clerk physically sign said bonds and affix thereto the corpor-
ate aeal ot· said City; the interest coupons affixed thereto shall
be signed by said Treasurer or bear hls engraved, printed or litho-
graphed signature; and such signing and sealing of said bonds by
said officers, and signing of said coupons by said Treasurer, sr.a.11
constitute and be a sufficient and b1nd1ng execution of each and
every one of aa1d bonds and all of the coupons thereof respectively.
Said bond3 shall be substantially in the form set forth 1n Bond
Plan C of Artlcle Dl of said Palo Alto Improvement Procedur~ Code;
said Treasurer and said Mayor and said Clerk are hereby authorized
and directed to so sign and attest respectively.
6. That the 1nte:r·est co~pons attached to each of :rnid bonds
and evidencing the interest to accrue thereon s!i.all be numbered
consecutively and be substantially in the following form,, to-wit:
Coupon No. $ ____ _
CITY OF PALO ALTO
SANTA CLARA COUNTY, CALIFORNIA
Will pay to bearer hereof on the 2nd day of
, 19 , at the office of ..,..t ... h_e_T_r_e_a_s_u_r_e_r·-o-f'_s_a_,.l .... d C:l tY, the aua of'
-..----.-.-.----Dollars ($ ) said. sum be1ng the semi-annual interest due on
Dated:
Improvement Bond No.
of Series No. NN
Tre-asiire~-ofl;~"CltY of Palo Al to
* * * * * *
I Qereby certify the foregoing to be a true copy of resolution
adopted by the City Cotmc11 of the City of Palo Alto, California,
at a regular meeting thereof held on the 28th day of August, 1950,
by the followlng vote:
AYES; and in favor thereof, Councilmen:
Blois~ Bolander, Bowden, Bower, Cashel, Cathcart, Freedman,
Gaspar, Mitchell, Montrou11, Wickett.
NOES, Counci.lmen: None.
ABSENT, Councilmen: Bentrc+:t, Hill, Linder, Morten.
~·-··~ City Clerk~fiie C~y of Palo Alto
APPROVED:
Mayor --V