HomeMy WebLinkAboutRESO 2466'·-
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R E S 0 L V T I 0 N ----------N 0 • --2466
Dh~ERMINING t~~AID ASSESSMENTS AND
PROVIDING ?OR THE ISSUANCE OF BONDS
HIOH STR)o:RT I ET AL.., ACQUISITION
PROJECT NO. 48-1.4
RESOLVED, BY THE City Council of the City of Palo Alto, California, that
WHEREAS, said Council did on the 9th day of August, 1948,
adopt its Resolution or Intention No. 1738 relating to certain
work to be done and improvements and acqus1t1ons to be made in
said City under and P~rsuant to the provisions of Article V of
Ordi11ance No. 844 or said City, adopted January 13, 1941, ent1 tled
r.?alo Alto ImProvement Proced,lre Code, "and did therein provide
that serial bonds would be issued thereunder pursuant to the
Provisions of Part 4, Bond Plan C or Article IV or said Code,
reference to S&ld Resolution of Intention, as amended, being
hereby expressly made for further particulars;
WHEREAS, on July 13, 1953, the Superintendent or Streets
of said City of' Palo Alto, filed w1th the Clerk of said City a
comr.>lt~tl:! list of all assessments unpaid thereunder ur>on the res-
Pective assessment and d1ap;ram numbers thereon, whereupon said
Clerk gave not1cd or the filing of said list and fixed in sa~d
notice Monday, the 27'tl1 day of July, 1953, at the hour of 7:30
o'clock P.M. as the time when lrlter~sted persons might appear
before the City Council of said City, at the regular meeting
place of said Council, C.tty Hall1 in sald City and show cause
why bonds should not be issued uoon the security of the unpaid
asseasmer1ts shown on said list, all of which appears from affi-
davits on file in the office of said Clerk;
WHEREAS, no protests or objections aga1nat the
issuance of said bonds were presented before or at the time
fixed for sald hearin~;
NOW, THEREFORE, IT IS HE.REBY RESOLVED, FOUJ\'D AND DETER-
MDJF..D, as follows:
1. That said ljat of assessments unpaid filed by said
Superintendent of Streets as aforesaid was at the time of filing
thereof ;tn alJ. respects complete and correct, al'd that since the
time of fil1ng thereof no assessments have been paid and also
that the unoaid assessments 1n the proceed:l.nsa duly had and
taken under and pursuant to eaid Resolution of Intention, are as follows:
As~~essment
No.
6
Amount
$64.74
2. That for a particular deecr1?t1on of the lots bearing
the respect:tve assessment llUmbers above set forth and upon which
as~essments remain unpaid as above stated, severally and respec-
tively, reference is hereby made to said assessment and to the
diagram recorded in the office or the said Superintendent of
Streets after confirmation by said City Council, the several
lots represented by said assesament numbers above set forth
being so numbered and designated upon said d1a~ram a.nd assess-
ment as so con:tirmed and recorded, severally and respectively.
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3. That the total or aggregate amount of said assess-
ments unpaid 1e the sum of $64.74.
4. That bonds shall be iseued upon the security of said
,.:mpaid rfsseeemente 1n the amount of $64.70 in accordance with
the prov1t.S1ons or Part 4, Bond Plan C of Article IV of tlie
Palo Alto Improvement Procedure Code, an<1 under and pursuant
to t!1e provisions of Resolution of Intention No. 1738, and tt1e
proceedings thereunder duly_ had and taken; that said bonds
shall be five (5) 1n number, shall be dated July 13, 1953, arld.
bear interest at the rate of not to exceed six per cent (6%)
Per annum from July 13, 1953, and the denomination of said bonds
and their re~pect1ve numbers and dates of maturity are a.s follows:
Bond No. Denomlnatlon Date ot' l\1aturit;t: ·---
1 $12.94 July 2, 195J~ 2 12.94 July 2, 1955 3 12.94 July 2, 1956 4 12.94 July 2, 1957 5 12.94 July 2, 1958
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5. That said bondn shall be issued in aeries, and the
unpaid assessments as shown on said list filed by the Superinten-
dent of Streets and determined by 8S1d City Council, to~ether
with the interest thereon, shall remain and constitute a trust
fund for the redemption and payment of said bonds and of the
interest wt1ich may be di.le thereon, which unpaid assessments shall
be payable 1n annual series corresponding 1n number to the number
of series of b:tnda 1aaued» and an even annual proportion of'
each assessment shall be payable in each year Preceding the date
of maturity for each of the several series of binds issued, and
such proportion of each assessment coming due in any year, to-
gether with the annual inte~est thereon, shall in turn be payable
in installments as the general taxes of said City on real proper-
ty ar·e payable, and sha 11 become delinquent at the same times and
in the same proportionate amounts and bear t~e same proportionate P~nalties for delinquency.
6. That the signatures of the loiayor and Treasurer be
impressed upon said bonds by engraved or lithographed process
and that said. City Clerk physically sign a aid bonds and affix
thereto ~he corporate seal of said City, the interest couoon~
affixed thereto shall be signed by said Treasurer or bear his
engraved, printed or lithographed signature; and such signing
and sealin~ of said bonds by said officers, and signing of said
coupons by said Treasurer shall constitute and be a sufficient
and binding execution of each and every one orsa1d bonds and
a 11 of the co•.lPOns thereof respect! vely. Said bonds shall be sub-
stantially in the form set forth in Bond Plan C of Article IV of
said Palo Alto Improvement Procedure Code; aa1d Treasurer and said
Mayor and sa!d Clerk are hereby authorized and directed to ao
si~n and attest respectively.
7. That the 1tlterest coupot"'s attached to each or said
bonds and evidencing the interest to accrue thereon shall be
number-ed conaeetl'tively and be substantially in the fo1J.ow1ng form 1 to wit:
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Coupon No. $ ____ _
CITY OF PALO ALTO,
SANTA CLARA COUNTY, CALIFORNIA
Will pay to bearer hereof on the 2nd day of
, 19 j at the or:r1ce or the UT~r_e_a_s-ur_e_r __ o~f~e-aid city, the sum or
Dollars ($ ----r)
-sa-I~a--e-u'_m __ b_e~in-.g-)~£~F.-.e-5em1annual Interest due on
Improvement Bond No.
oi' Series NO.
Dated: ____________________ __
Treasurer of City of PaloA!tO
8. That the Clerk of said C:lty shall forward a certified
copy of this resolution to the City Treasurer and City Auditor.
* * * ... *
I hereby certify the fore~o1n~ to be a true copy of
resolution adopted by the City Council of the City of Palo Alto,
California, at a regu.lar meeting thereof held on the 27th day of
July, 1953, by the following vote of the members thereof:
AYES, and 1n favor thereof, Councilmen:
Byxbee, Cashel, Corcoran, Cumm1nga 1 Drysdale, Hanley,
Huston, Marshall, Mitchell, Rodgers, Ruppenthal, Simpson,
Wickett.
NOES, Councilmen: N'Oi1e.
ABSENT, Councilmen: Bishop, Porter.
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