HomeMy WebLinkAboutRESO 2053j
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R E S 0 L U T I 0 N _ .. ________ _ N 0 • 20;:.3
ELECTING TC PURCHASE IMPROVEME}iT BONDS
BARTLEY TRACT ALLEY'S
PROJECT NO. 48-12
R:::SC:LVED, bJ-· th0 Counc11 of the Cit~· o:' P1.lo Alto, C8-l1.f'orn1a, thai~
WHEREAS, the aggregate ::imount of the unpaid assE"nsr:ients
levied pursuant to Resolution of Intention No. 1712, adopted
.T1.1ly 12, 191+8, as mod:~f'ied, 1:3 $6,258.Ci2; and
WHEREAS, thi!~ amount j,s ~o 1ow th.qt the prospect of a
f:::.vorable b!d from the bond bnyer~ 1::: doubtful; and
WHER!!AS, 1 t is to the lnterest rrnd advantace or the Ci w
'\'nd of' the property owners 111 the HS:JC3sment digtrict that the
' CJ.ty purchns0, out of avnilable funds, bonds issued on the
Dccur1ty or the said unpaid nsseasments;
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NOW p THF.R~o;;J:.'OH.E, IT rs HEREBY R:~SOLVIID, DE'TEHMINF.D AND CRD~RSD
GC. ('ollows:
1. The Ct ty ::;hall pi~rchace the bonds described in Re::;olution
No. 2052, Providing for the r~~!:rnancc of' Bonds, Bartl0y Tract
Alley:J, Pro,;ect No. 4.S-12, ~doptcd by the Conncil on the 27th dn.y of Novemb~r ~ 1950.
2. The interest rate is hereby fixed at three per cent (3~) oer 3nnum.
3. The City Controller shall transfer from the Dixon rund
rm amo1rnt eq1..al. to the principal a.mount of the said bonds.
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I hereby certi.f~r that the .foree;oing is a true copy or
resolution adopted by the Council or the City of Palo Alto, California,
at a regula.1· meeting ther(~Of held on the 27th day of November,
1950, by the following vote of the member3 thereof;
AYJ!.S, and tn favor thereof, Councilmen: B1ois, Bolander,
Bowden, Bower, Cashel, Cathcart, Freedman, Gaspar,
Hill, Linder, Mitchell, Montrou11, Morten, Wickett.
NOES, Councilmen: None.
ABSENT, Councilmen: Bentrott.
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Mayor
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APPRCVED: D ... m.~
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