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R E S C L U T I 0 N ---------N 0 2052
PROVIDING FOR THE ISSUANCE OF BONDS
BARTLEY TRACT ALLEY
PROJECT NO. 48-12
RESOI..VED, by the City Counc1 l of the City of Palo Al to,
Calli'ornia, that
WHEREA.S, said Council did on the 12th day of July, 1948,
adopt lts Resolution of Intention No. 1712 relating to certain
work to be done and improvements and a-cquJsitions to be made in
said City ·.mdez· and purst:.ant to the provi.sions of Article V of
Ordinance No. 8~4 or said City~ adopted January 13, 1941, entitled
,, Palo Al to Improvement Procedure Code", and d1d ~rein provide
that serial bonds would be issued thereunder pursuant to the pro-
visions of Part 4, Bond Plan C or Article IV or said Code, re~
ercnce to 3aid Resolution of Intentlon, as amended, being hereby
expressly made for further particulars;
WHEREAS, on November 2, 1950, the Superintendent of Streets
or sald City of Palo Alto filed with the Clerk of said City a
complete list of all asscr.sments unpaid thereunder upon the re-
spective assessment and diagram numbers thereon, whereupon said
Clerl< gave notice of the fillng of said list and fixed in said
notice Monday, the 27th ~-Y of November, 1950, at the hour or 7:30
o'clock P.M. as the time when interested persons might appear
before the City Council of said City, ut the regular meeting place
of ~nld Councll, City Hall, in said City, and show cause why bonds
should not be 1:::sued upon the security of the unpaid assessments
shown on sald 11.<t, all of which appears from affidavits on file
in the office of said Clerk;
WHEREAS, no protests or objections against the issuance or said bonds were presented before or at the time fixed for sa!d heRrine;
NOW, THEREFORE, IT IS HEREBY RESOLVED, I<'Ou:tro and DETERMINED AS ~''OLLOWS :
1. That said list of assessments unpaid filed by said
Sul'.lerintendent of Streets as a.1'oresa1d was at th~ time of filing
thereof ln all respects complete and correc;;, and that s.ince the
t1~e of filing thereof no assessm~nts have been paid and also that
the unpa1d asses3ments 1n the proceedings duly had and taken under
and pursuant to said Resolution of Intention, as amended, arc as fo:lo~·!":-~:
As se:J~;ment
No.
3 l• T
(' :> 6
7
9
10
11
12
13 14
i~
Amourit
$1,020.88
737.08
963,53
366.06
67.60
687.20
399.78
439.63
126.92
126.92
634.63
154.49
533.20 $6,258.62
..
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I_
L
2. That for a particular description of the lots bearing
the respective assessment numbers above set forth and upon which
assessments rema1n unpaid as above stated, severally and respec-
tively, referen.ce is hereby made to said assessment and to the
diagram recorded in the office of the sa1d Superintendent of
Streets after confirmation by said City Council, the several lots
represented by said assessment numbers above set forth being so
numbered and designated upori said diagram and assessment as so
confirmed and reao~ded, severally and respectively.
3. That the total or aggregate amount of said assessments
unpaid is the sum of $6,258.62.
4. That bonds shall be issued u~on the security of said un-
pald assessments in the amount of $6,258.60 1n accordance with
the p.-·ov:!.nions of Part 4, Bond Plan C of Ar't~icle IV of the Palo
Alto Improvement Procedure Code, and under and pursuant to the
provisions of Resolution of Intention No. 1712 and the proceed-
ings thereunder duly had and ta1.;en; that said bonds shall be ten
(10) in number, shnll be dated November 2, 1950, and bear int-
erest ::i.t the rate of not to exceed five per cent (5%) per annum
from November 2, 1950, and the denomlnat1on or sald bonds and
the:l.r respect:tve numbern und dates of mat .. 1rity are as follows:
495
Serles Bond Number Denomlnatlon Date of MD.tur1t~
00 l $625.86 .july 2 I 1952
2 625.86 July 2, 1953
3 625.86 JuJ.y 2, 1954
l~ 625.86 July 2, 1955 c-G25.86 July 2, 1956 ;;i •
G 625.86 July 2, l')5'r'
l'"f 625.86 JulJ-· 2, 19')8 I
8 625.86 July 2, 1959
9 625.86 J\.<ly 2, 1960
10 625.86 July 2, 1961
5. That said bonds sh~ll be issued in series, and the un-
p:J.id :·t::.::.esnm<.rnts n.s nhown on said 1::!.st f:.lcd by the ~.\:.p·~rlntendent
o:· ~~t:-e<~t!:· and determined by said City C·.:iuncil, together with the
interest thereon, shall remain and constitute a tru~t fund for
the redemption and payment of' said bonds and of the interest which
may be due thereon, which unpald assessments shall be payable in
:'lnmt.:-11 series corresponding ln number to the nur.iber of' ser:.0s o:~
bcmds issued, and an even annual proportion of each assessment
shall be payab1e ln each year preceding the date of mat;.irity for
each or the several series of bonds issued, and such proportion
o~ each assessment coming d~e ln any year, together wit~ the an-
nun.1 interest thereon, shall 1n turn be payable in installments
as the gencrul taxes of said City on real property are payable,
.::md shnll become delinquent o.t the same times and in the ~ame
proport1on3te amounts and bear the came proportionate penalties
!'or del:l..nquency.
'l'h.'.l~ the signatures of the Mayor ::rnd Treasurer be 1mpr0ss~d
upon said bonds by engraved or lithographed process and that said
City Clerk phyn1cally aign said bonds and affix thereto th0 corp-
orate seal of snid City; the interest coupons affixed thereto
shall be signed by said Treasurer or bear his engraved, printed
or lithographed signat'..lre; and S1lcr. ~;ien1ns o.nd seallnc; of said
bonds by said officers, and s1gn1r:~ of said coupons by ~a:d
~re~surer shal! constitute and be a sufficient and b1nd1nc exee~
tlor. of each 2,nd cver~r or.\~ of said bonds and all of the co~1pons
thereof respectively. Said bonds shall be subst:antially !.r. the
form set forth in Bond Plan C of Article IV of said Palo Alto
Improvement Procedure Code; so.id Treasurer and said Mayor and s~:!.d
Clerk are h~reby a11thor:1.zed and directed to so sign and attest
r~spectively.
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'' /"'"'~\.'ll ... w,1 ... ~-.~~ .... "_,,, ........
496
6. That th0 interest coupona attached to each of said bonds
and ev1dencin~ the 1ntere3t to accrue thereon shall be numbered
c ,nsecutively" n.nd be substantially 1n the following term, to-w1 t:
Coupon No. $ ~~~~~~~~~~~~
CITY 0.!.'' PALO ALTO
SANTA CLARA COUNTY, CALIFORNIA
Will pay to benrer hereof on the 2nd day of
,19 , at the 0ffice of
the 1l'reasi.1rer of' said IT"ty, the sum of
Dollars {$ ) sa_I,_d.,,__c-,-.~ m-b.--:::"'"i_n_ri:_,,t.,.,..h_e_s er.ii -n n n ua:J. interest due on
Improvement Bond No.
of .Series No. 00
Duted:
Treasurer of.' cl ty of' Palo Ai to
... * * * ...
I hereby certify the foregoi.ng to be a true copy of resol1,--
t1on adopted by the City Council of the City of P~lo Alto,
CR11fornla, nt a regular meetin~ thereof held on the 27th day
of November, 1950, by the followine; Vl)te:
AYES, and in ~0.vor thereof', Councilmen~
Blois, Bolander, Bowden, Bower, Cashel, Cathcart, Freedman,
Gaapnr, Hill, Linder, Mitchell, Montrou11, Morten, W!ck~~t.
i'~OES, Ccmnc11:nen: NonP,,
ABSENT, Councilmen: Bentrott.
APPROVBD: A.:_-· ·-Cd...d. ..:£..1 trJftyor Lf v
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