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CALLING FOR BIDS ON SALE OP IMPROVEMENT BONDS
PROJECT NO. 51-5
SAN ANTONIO AJ.:NEX SEWERS
ACQtJISITION AND IMPROVEMENT
RESOLV.C'l), by the City Council of the C1ty of Palo Alto,
Colifornir.1, that
1. The City Clerk or said City be, and she 1: hereby d1re~t
ed to call for bids for the sale of improvement bonds to be 1A~:ied
pursuant to Resol11tion of Intention No. 2094 adopted by this Coun-
cil on April 9, 1951, said bids to be received by snid C~ty Clerk
at or before the ho1Jr of 7:30 o'clock P.M. of Monday, the 24th
day o~ September, 1951, ~nd to be publicly opened, examined and
declnred at sa1d time in the r!gular meeting ploce of said Council,
Co!:neil Chambers, City Hall, Palo Alto, California. Soid not:ce,
in form a copy of which 1c hereto attached marked Exh1b1t ''A",
shall be ~1ven by publication once in the Palo Alto Times, a news-
onper p1Jbl1shed in said City, at least ten days before said date.
2. The City Council will furnish the legal opinion of the
law !.'irm of Kirkbride, W~.lson, Harzfeld e: Wa1 lace, S:rn ~·1ateo, C."!li··
i'ornt:.i, 1mq~:~1li:'led1 ;v nnprovinp; the 1,:-r:all ty of thi;: proceed!. ngs
and t~1e 1:.:i~1!urnce or !1().l.d bondf:',.
* * * * * * *
I her<:!by certify that the forecso1n>(, resol·1tion w."'S duly <!nd
rer;•1larly adopted and pnssed by the City Councl 1 of the City of
P::llo Alto, California, at a rep;ul3r meetin(, thereof held on the
27th day of.' Ailgust, 1951, by the fo1low1np; vote:
AYES, and :tn favor thereof, Councilmen:'
Blois, Bowden, Bower, Cashel, Cathcart, Drysdnle, GRspar,
Hill, Marshall, Miller, Mitchell, Montrol.!11, Wickett.
NOES, Councilmen: None.
ABSENT.• Co:.mc1 lrncn: Bishop, Simpson.
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APPROVED: ,1;.ef:,' -~ ~-,/.~-;:
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NOTICE 0? SALE OP IMPROVEM.ENT BONDS
PROJECT NO. 51-5
SAN ANTONIO ANNRX SEWERS
ACQtTISITION AND IMPROVEMENT
177
rw·rrcE IS HEREBY GIVID'. that the City Clerk or the c1 ty of Palo
Alto, SAnta Clara County, California, will, at or before 7:30 o'clock
P.M. of Monday, the 24th day of September, 1951, at her office in
the City Hall or said City receive sealed proposals or bids for the
purchase of munici':')al improvement bonds of said City to be ordered
1!'ls·.ied on said dn te purs1iant to Bond Plan C, Part l~, Article IV of
Ordinance No. 81•4 of ea id City ent1 tled 11 Palo Al to Improvement
Procedure Code, adopted Januar;<{ 13, 1941.
All bids must be uncond1tlonal 3nd enclosed in a sealed en-v~ lope marked "Proposal for Bonds".
Said bonda will be issued to pay the cost of the acquisition
and improving or rights of way and the improving of Ross Road,
Middlefield Road, Grove Avenue, Alrna Street, Diss Road, Mayview Ave-
nue, Charleston Rond, San Antonio Avenue and 3reer Road by the
construction therein of san1 tary sewer mains, wye branch1:is. risers,
house J.aterals, manhole::;, with manhole nnd r1ser frames and covers;
the construction of a sewage pumping station, including all appurten-
ances, at a point on Greer Road approximately 175 feet northwesterly
from Lome: Verde Avenue, pursuant to Resolution of Intention No. 2094
adopted by the City Council on April 9, 1951.
The total assessed value of all taxable property in the City
on the current tax roll is approximately $43,973,265.00.
It is estimated that bonds will be issued 1n the 2pproxim2te
amount of $172,586.48. Said bonds will be issued 1n equal annual
series, maturing on July 2nd of the year 1952 to 1961, inclusive,
and will bear interest at the rate of not to exceed 4% per annum,
and be paid by semi-annual coupons, excepting the first coupons
which will be for interest from August 4, 1951 to January 2, 1952.
Said bonds will be of the denomination of $1,000.00 each, excepting
one bond each year which will be for the balance of snid ser1es.
In the event·of a delinquency 1n the payment of any install-
ment of the assessments levied upon any of said benefited properties
for the payment of the principal and interest or said bonds, it is a
mandatory duty on the part of the City to transfer an amo~nt equal
to the amount of such delinquency, with penalties and costs, ~rom
available funds Of said City to the interest and redemption fund of
said bonds, and in the event such funds are not availabie then to
levy a tax therefor up to ten cents ( 10¢} on the Oi1e H!.mdred Dollars
($100.00) of taxable property in said City. In such event said bond3
bear interest after maturity until paid 3t the rate stated therein.
All bids will be publicly opened, examined and declared at the
time and place above stated, after which said bonds will be awarded
to the bidder who offers to take tham at the lowest net interest cost
Rnd interest to the date of delivery. No bid for less than par will be considered.
The approving legal opinion of' Messrs. Kirkbride, Wilson,
Harsfeld & Wallace, San Mateo, Cal1forn1a, will be furnished by sa1d CounciJ. to accompany sa:td bonds.
By order of the City Council of the City of Palo Alto, Santa
Clara County, California.
Dated: August 27, 1951.
WINIFRED KIDD
~fty Clerk of the City of Pa1()Alto
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