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Home My WebLink AboutRESO 2090. .,. ·······-·. l I._. L l I ~ . .. .. -,~••'"·'"<'<""'I-•'-""' .... •-"'' ... '""' ___ .. __ ,,.,.,..._ .. ,_.,•-••.,_ .... -.-·~·1•··-· ... •••··-.,.u--•--•,. ... •-...,..,.. _____ ., .. ~"""'"-""""'.._,...~,.., that RESOLUTIOJf - - -...... , .... ..,, ._.. -...... i.- I 0 • --~ PROVIDDG POR TD ISSUAllCB or BOIDS PaOJ~ XO. 50-5 BMBARCADIRO ROAD, ft AL ACQUISI!'XOI AO DDlPO'l'.IJllll'l' 63 RISOLVID, by the Council ot tlw c1t7 ot Palo Alto, California, l lfH:BRBAS, aa1d Council did on the 1-th daT or August, 1950, l adopt ita Resolution ot Int•nt1on Xo. 2017 relating to certain work to be done and 111Prove .. nta and acqu1a1t1ona to be 111.cle in aa1d City under and puraua.nt to tbe prov1a1ona. ot Article V ot Ordinance xo. 844 ot aa1d c1t1, adopted J&n'Wl.rJ' 13, l~l, entitled •ralo Alto ~ Iapro•••nt ProcedUN-Code•, and did tMre1a prort4o that aerial bond.a would be 11aued thereunder pursuant to the pr,oyiaiona ot Part 4, Bond Plan c or Article IV or aa1d. Code, ret•renoe to said Reao- lut1on ot Intention being hereby •xp1'911.l7 •de tor further parti- culars; · VHERXAS~ on March 26, 1951, the Superintendent ot Streets or aaid C1ty ot Palo Alto filed with the Clerk ot •&14 C1t7 a complete list ot all aaseas .. nte unpaid thereunder upon the reapect1ve aaaeaa .. nt and diagram numbers thereon, whe .. upon 1a14 Clerk gave notice of the tiling of said 11at and fixed 1n aa14 notice Monday, the 9th day or April, 1951, at the hour or 7130 o!n9ck.:t .. M. aa the time when interested peraona might appear betore th• Council, at the regular 11eet1ng place ot said Council 1n the City Hall 1n aa1d City, and show cau1e why bonds should not b• 111ued upon the security or the unpaid aaaeoaanta shewn on aaid. 11at, all or which appears trom att1dav1ta on tile in the ottice ot a&id Clerk; llfHlCRBAS, no proteata or objection• against the issuance or said bonds were presented before or at the time f 1xed tor said hearing; NOV, 'l'HDEPORE, IT IS HmUm"I RBSOLVBD, l'OUMD and DBTXRMDBD., as follows: 1. That said 11at or aaseas111ent1 unpaid tiled by said Super- intendent or Streets aa atoreaa1d was at the time or tiling thereof in all respects complete and correct, and that since the filing thereof no asaeaament1 have been paid and also that the unpaid asseaamente 1n the ~roceedinga duly had and taken under and purau-ant to aa1d Resolution ot Intention are as follows: Assess-Aa1ea1-Assess-Aase a a-ment lo. Amount ment Ko. Amount ment lo. Amount ment Ho. Am't -••• .. nm• - l • 1~-~ 9 $1,021.47 22 • 596.88 34 934.60 2. 59. 10 . ~~.01 ~~ 596.88 ~g 93-.60 3 76.~~ ll 8, 7 .3 (96.88 93\.60 5 72. i~ 384.9~ 25 72.96 37 l,128.77 5-A 193-~ 569.0 26 277.9~ 38 215.01 6 279. 15 56,.o.\ ~~ 892.9 ~9 1,102.81 6-A 279.98 16 56 -~2 ~98.11 0 l,~3-58 6-B 279.98 i~ 559. 1 29 15.68 40-A 2.67 6-c 27~·~ 569.04 30 815.68 40-B 927.22 6-D 33 • 5 19 569.04 31 815.68 40-C 925.-6 A 934.60 20 569.<>4 32 81,.68 41 54§.89 93•.60 21 4,986.85 33 93 .60 ~2-61 .16 ~ l i I , ~ 1 l ' i &I .... i '" ~-·· .. ~ .. ··~-.. --. ....... """'"''"""-"~· ... -·--· .......... ~ .. ··~~--........ ·~·--"~~· .. ,, .. · .. -. ·-··-.. ·· ........................... -·--·~·"·--· ·-·1 Aesese-Aaaeac-.Uaeas-.Aeaeers-ment Ho. Aaount .!!,!!t Xo. Amount aent Ro. Amount •nt lo. Amount :~ • 618.16 §~ • 596.88 62 • 596.88 71 • 4~.06 5~6.36 596.88 6i 596.88 72 361.85 -5 5 ~-32 ~ i96.88 6 . 596.88 i~ 653.47 .-6 569.~ 06.69 . 65 596.88 577.21 569.04 596.88 ·rs 577.21 :~ ~ 6o6.6~ 66 569.04 68A.1 ~ 596.88 76 l0,965.3~ 50 596.88 &6 61 .68 596.88 ~~ 285.2 51 596.88 629.00 69, I 596.88 . 133.68 52 596.88 61 596.88 70 596.88 81 1~~-l6 $72,0~.84 2. That for a particular deacr1pt1on ot the lots bear11ig the re1p*ct1ve aaae11aent numbers above ••t torth and upon Which aaae1111enta remain unpaid as above atated, 1everall7 and reepective- l;r, reference 11 hereby u.de to aaid a1aeeaMnt an4 to the diagram recorded 1n the ottice ot the said Superintendent or Streets atter conr1rmat1on by said Council, the aeYeral lot• represented by aa1d aaaeaa .. nt numbers above.set torth being ao numbered and dea1gnated upon aa1d d1a.gram and assessment as eo confirmed and recorded,, se~erally and respect1vel7. 3. 'l'hat the~~total or ar.regate amo'Unt or aa1d aaaeaamenta unpaid is the eum or •12,00-.8 • 4. 'l'hat bonda shall be 1aaued uion the security of 11aid un- paid aaaressments in the said amount or 72,004.80 1n accordance with the prov1a1ona or Part 4, Bond Plan C ot Article IV ot the Palo Alto Improvement Procedure Code, and under and pursuant to the provisions or Resolution ot Intention Wo. 2017 and the proceed- 1ngs thereunder duly had and taken; that ea1d bonds shall be eighty (80) in number, shall be dated March 26, 1951,. and bear 1ntereet at the rate ot not to e.xceed rour per cent r4~) per annum from March 26, 1951, and the denomination ot said bonds and their respective numbers and dates or maturity are aa follows: Series Ho. Bond No. Denomination Date or Maturitl pp l $1,000.00 July 29 1952 2 1,000.00 July 2, 1952 i 1,.000.00 July 2, 1952 1,00C.00 July 2, 1952 5 1,000.00 July 2, 1952 6 l,000.00 Jul7 2, 1952 A 1,000.00 July 2, 1952 200.48 July 2, 1952 9 1,000.00 July 2, 1953 10 l,000.00 July 2, 1953 ll 1,000.00 Ju.17 2, 1953 12 1,000.00 July 2, 1953 i~ 1,000.00 July 2 .. 1953 1,000.00 July 2,, 1953 15 1,000.00 Jul7 2, 1953 16 .. 200.~ July 2, 19~ iA 1,000.00 Jul7·2, 19 1,000.00 Jul72, 1954 19 1,,000.00 Jul7 2, 1954 20 1,000.00 July2, 1954 21 1,000.00 Jul7 2, 1954 22 1,000.00 Jul7 2, 1954 ~~ l,000.00 July-2, 1954 200 • .-s July 2, 1954 . I ' . ' i_ J . ___ ; i l iJ l ! • • • . • .. --···--.··.~~~.,...,...,.,.w,.......,""._..• .. ..,,.,,,.,._.,...,_.,.,. - 81 Ser1ea lo. Bond Mo. Denomination Date or Matur1tz PP 25 $1,000.00 July 2, 1955 26 1.,000.00 July 2, 1955 ~A 1.,000.00 Jul7 2, 1955 1,000.00 Jul7 2, 1955 29 l,000.00 July 2, 1955 30 l,000.00 July 2, 1955 ,1 31 1.,000.00 July 2, 1955 32 200.48 July 2, 1955 §~ 1,000.00 July 2, 1956 l!,000.00 July 2, 1956 ~g l,ooo.;;oo July 2, 1956 1,000.00 July 2, 1956 ~A 1,000.00 July 2, 1956 1,000.00 Jul7 2, 1956 ~g 1,000.00 July 2, 1956 200.48 July 2, 1956 41 1,000.00 July 2, 1951 42 1,000.00 July 2, 1957 ~~ 1,000.00 July 2, 1957 1,000.00 July 2, 1957 45 l,C00.00 July 2, 1957 46 1,000.00 July 2, 1957 :A 1,000.00 July 2, 1957 200.48 July 2, 1957 49 1,000.00 July 2, 1958 50 1.,000.00 July 2, 1958 • 51 1,000.00 July 2, 1958 52 1,000.00 July 2, 1958 §~ 1,000.00 July 2, 1958 1,000.00 July 2, 1958 55 1,000.00 July 2, 1958 56 200.48 July 2, 1958 §~ 1,000.00 July 2, 1959 1,000·~00 July 2, 1959 59 1,000.00 July 2, 1959 60 1,000.00 July 2, 1959 61 1,000.00 July 2,1959 62 1,000.00 July 2, 1959 ~~ l,000.00 July 2, 1959 ' . 200.48 July 2, 1959 65 1,000.00 July 2, 1960 66 1,000.00 Juty 2, 1960 ~~ 1,,000.00 July 2, 1960 1,000.00 July 2, 1960 69 1,000.00 July 2, 1960 70 1,000.00 July 2, 1960 71 1,000.00 July 2, 1960 72 200.48 July 2, 1960 +~ 1.,000.00 July 2, 1961 1,000.00 July 2, 1961 75 1,000.00 July 2, 1961 76 l,000.00 July 2, 1961 t~ 1,000.00 July 2, 1961 1,000.00 July 2, 1961 ~g 1,000.00 July 2,, 1961 • 200.48 July 2, 1961 5. That said bonds shall be issued in series, and the un- paid assessments as shown on said list filed by the Superintendent or Streets and d~termineci by aa1d Council, together with the in- tereet thereon, shall remain and constitute a trust rund ror the ' ·.'' ; I- I'',:' "• •' ~ I· ~· .~ ;~: ~· (" t' ~- ~~ ! t } ,. ; ' f ,, ~.lif')f~ ..... •\,.,._,_,.~---...... -------.. -..,,-,.,. -••~·•· ·""'''""", ~ •'>'*·''"'"''-"'~""·--1< .... •. _.,,.,_ ..... ~ .. «••-.· ... -...--•w•• "'". . .... -·~,,_,,..,,.....,._. ,..--......... _.._,,~ 88 redearpt1on and payment or said bonds and or the 1nt':'reat which may be due thereon, which unpaid a.s1sel!u1menta shall be p .. yable 1n annual eer1ea corresponding 1n number to the nuaber or eer1ee or bond issued, and an even annual proportton ot each aaeeaament ahall be payable in each ,.ear preceding the date or the maturity ror each or the several aor1ea or bonds issued, and such propor- tion or each aaeeaament coming due in any year, together with the annual interest thereon, ahall 1n turn be payable 1n 1natallmente aa the general taxes or said City on real property are payable 1 and sha.ll be~ome dellnquent at the same time and in tha aame proportionate amou11ta and bear the same proportionate penalt1ee for delinquency. That the s:tgnatu.1.ea or the Mayor and Treasurer be impressed upon said bonds by engraved or lithographed process and that said City Clerk physically tiign aa.1d 'bonds and affix thereto the cor- porate seale or said City; the interest coupons affixed thereto shall be signed by said Treasurer or bear his engraved, printed or lithographed a!gnature; and auch a1gn1ng and aeal1ng or said bonds by said officers, and signing or aaid coupons by said Treaaurer, shall constitute and be a aurr1c1ent and binding execution or each and every one or ea1d bonds and all or the coupons thereof reepec- t1 vely. Said l>ondo shall be substantially in the form set forth in Bond Plan C of Article IV or said Palo Alto Improvement Pro- cedure Code; sa~.d Treasurer and. said Mayor and said. Clerk are h&reby authorized and directed to so ·sign and attest respectively. 6. That the interest coupons attached to each of said bonds and evidencing the interest to accrue thereon shall be numbered consecutively and be substantially in the following form, to-wit: Coupon No. $ -CITY OF PALO ALTO ------ SANTA CL.ARA. COUNTY, CALIFORNIA Will pay to bear~r hereof on the 2nd day of ,19 , at the office or ... ~ ... h-e_Tr_e_a_s_u_r_e_r __ o_f_s_a_,1...,a-c1 tY,-the sum of Dollars ($ ) _s_a_i_d ___ s_u_m_b_e_i_n_g__,~-h-e~s-~~.mi-annual interest due on Improvement Bond No. of Series No. PP ~~~- Dated:.~~~~~~~~~~~~~ ~reaeurer of the Crty o~alo Alto * * * * * * * * I hereby certify the foregoing to be a true copy or reso- l ut1on adopted. by the City Council of the C:1ty of Palo Alto, ca11rorn1ei., at a regular meeting thereof held on the 9th da.y or April, 1951, by the following vote: AYIS, and in favor thereof, Councilmen: Bolander, Bowden, Bower, Cashel, Drysdale, Freedman, Gaapar, Hill, Linder, Montreuil, Wickett. NOES: Councilmen: None. ABSENT: Councilmen: Blois, Cathcart, Mitchell. '~~~ .c:u APPR~ .. ~ .... : ..... ,f;;&~~ .&,,~(.4~ . ·c1.ty clerk Of the--C1ty--of'--PaTo Alto ~yor--f c rJ'J ' ~ c.. ~ I ' -~ ! -.. 1lt l ' 1 ,. i ; ! \ ~ ( ., i ~1 J • \lll'J .... or;'#,.tj ........ , __ W""''h .... -. •••• <.•n•_,....,,..,.,~..,..... ... ....,,. r,.,._.,, ... r+.-nl•••••~·"" " .,.,,.,, • ,.,. ,.,~,.,.., ... ,._,.,,. •h...,.., .... ,,.., .. ~-~-.... ",._'"'~ ... -,..___..,_"''"' •• ,., '-68 ;:~ 1.1, ~\ i ]t, ... ti'; ~-. ~ 1~: " ~· ~~~ t ,t,· h ~ f :f' ~· if, !.', ~.~ NOTICX O.F SALE OF IMPROVDDCNT BONDS PROJBCT NO. 50-5 BMBARC.ADDO ROAD1 ft AL ACQUISITION AND IMPROVBMENT cc r;J) ...... ......... c. -c NOTICE IS HEREBY GIVEN that the City Clerk ot the City or Palo Alto, Santa Clara County, California, w111 1 at or before 7:30 o'clock , I P.M. or Monday, the 23rd day of April,, 1951, at her orr1ce in the _J City Hall or aald City receive aeal~d proposals or bids tor the pur- chase or municipal improvement bonds or said City to be ordered 1aeued on ea1d date pursuant to Bom1 Plan C, Part 4, .Article IV of Ordinance No. 8~4 or said City entitled "Palo Alto Improvement Proce-dure Code" adopted January 13, 1941. All bids must be unconditional and enclosed in a sealed envel-ope marked "Proposal for Bonds". Said bonds will be issued to pay the co&t of the acqu1s1t1on of rights or way for the improving of Embarcadero Road tor its rull width from Newell Road to Wildwood Lane and the southerly end thereof from Wildwood Lane to the easterly line of ·Lot 9 in Block 361, St. Francis Terrace Subd1v1s1on, by grading and removal or trees and ex- isting structures, constructing or reconstructlng curbs, gutters, sidewalks, driveway aprons, storm water dra1n pipe and catch bas1ns with frames and grating, manholes and covers with iron stepe, pave- ment, electrol1ers, sanitary sewer services, water services and gas services, pursuant to Resolution of Intention No. 2017 adopted by the City Council on August 14 1 1950. The total assessed value of all taxable property 1n the City on the current tax roll is approximately $43,973,265.00. It is estimated that bonds will be issued in the approximate amount of $72,004.84. Said bonds will be issued 1n annual serles, maturing on July 2nd of the years 1952 to 1961, inclusive, and will bear interest at the rate or not to exceed 4~ per annum, and be paid by semi-annual coupons, excepting the first coupons which will 'be re~ interest from March 26, 1951 to January 2, 1952. Said bonds will be or the denomination or $1,000.00 each, excepting one bond each year w~1ch will be for the balance or said s~riee. In the event of a delinquency in the payment or any installment or the assessments levied upon any or said benefited properties for the payment of the principal and interest or said bonds, it is a mandatory duty on the part or the City to transfer an amount eq1.lal to the amount cf such delinquency, with penalties and costs, from avail- able funds of aa.ld Cl ty to the :1.nterest and redemption fund of sa1d bonds, and 1n the event such funds are not available then to levy a tax therefor up to ten cents (10¢) on the One Hundred Dollars ($100.00) or taxable property in said City. In such event said bonds bear interest after maturity until paid at the rate stated therein. All bids will be publicly opened, exa~1ned and declared at the time and place above stated, after 'Which said bonds will beawarded to the bidder who offers to take them at the lowest net interest cost, and interest to the date of delivery. No bid for less than par will be considered, and all bids must be unconditional. The approving legal opinionor Meaars. Kirkbride, Wilson, Harzreld & Wallace, San Mateo, California, will be furnished by said Council to accompany said bonds. By order or the City Council or the City of Palo Alto, Santa Clara County, California. Dated: April 9, 1951. WINIFRED KIDD City Clerk o~ the Cfty or Palo Alto J • ~ • i ~ l ' t i i l l 1 ~~