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Home My WebLink AboutRESO 2549.. • 1\ • ' ,. ~· , t' r M y ~ ~ ~~ i ~ ' < __. ..... t. KWH\h-.Wa.Stra 7/15/5~ ' •.... ' , .. , .,-··· ._·· .' RBS~LtP.riON NO. _,l ... fJ...,.-2;;....... __ PROVIDING POR THE ISSUANCE OP BONDS STREIT LIGHTING RICONSTRUOTION DISTRICT TWO PROJEC'l' NO. 53-6 8c., .. RESOLVED, by the city council of the City of Palo Alt~., Cal- ,· ifornia, that . WHEREAS.. said council did on the 23rd d~ or Novaaber, 19~53, adopt ita Resolution of Intent1en NO. 24S9 relating to oertainiwor to be done and ~provements and acquisitions to be made in sa1~ City under and pursuant to the provisions of Article v of ordinanc ·Na. 844 or said City, adopted Jantta.ry 13, 1941, entitled "Palo Alto Improvement Procedure Code", and did t~erein provide.that E!lerial bo·nds · would be issued thereunder pursuant to the provisions ot paru 4, BOnd Plan C of Article IV ot said Code, reference ~o said Resolution of Intention, aa amer.ded, b~ing hereby expressly made for further particulars; WHEREAS, on June 30, 1954, the Superintendent of streets of aa.id City or Palo Alto, filed with the Clerk or aaid City a coJI- plete list of all assessments unpaid thereunder upon the respec~:tiv assessment and diagram numbers thereon, whereupon said Clerk s•ve notice or the filing of saia list and fixed in ~aid notice Mond_,, the 9th day of Augurit. 1954~ at the hour of 7:'0 o1 clock P.M. 1aa the time when interested persona 'lllight qpear before the City council or said City, at the regular meeting pl~oe ot said coutilcil City Hall, in said City and,·show cause 1fh7 bonds should not be issued upon· the security of the unpaid assessments shown' on sa:Ld list, all of which appears from the affidavits on file in the office ot said clerk; WHBRBAS, I! protests or objections against the 1aauance ot said bonds were presented before or at the time t~d tor said h~aring; '• •1 --'-0-~·=-''--·~:r~~-- ,, " ,_. 0 ~· -. NOW 1 THEREFORE 1 IT IS P..Emi:BY RESOLVED, FOUND azjd DBTDMIRID 1 as f'ollowa: l. That said list or assessments unpaid filed by said Super·· intendant of Streets as aforesaid was at the time or filing there~•f' in all rcspecta complete and correct~ and that since the time or filing thereof no assessments h~ve been paid and also that the un- paid aa5essments in the proceedings duly had and taken und~~ and pursuant to said Resolution of Intention, are aa shown on EXhibit . "A• her.to attached and by refarenoe made a part hereof'. 2. That for a particular de'Scrip·,ioo Ct the lQts bearing the respective assessment numbers above s~t forth and upon which assessments remain unpaid as s~bove stated, seveX'ally and respec-- tively, reference is hereby made to said assessment and to the diagram recorded in the office of the said Superintendent or streets after confirmation by said City council, the several lots represe~ted by Shid aase~ament numbers above set forth being so r.umbered and de~ignated upon said diagram and assessment as so confirmed and recorded, severally and respectively. 3. That the total or aggregate amount or said asaessments unpaid is the sum of $11,667.99. 4 •. Tbat bonds shall be issued upon the security of said unpaid assessments in the amount or $11,667.95 in accordanca with I_ ·. I . the provisions of Part 4, BOnd Plan c of Artiole IV or the palo I I Alto Improvement Procedure code, and under and pursuant to the I prov!~iona or Resolution of Intention No. 2485 and the proceedings I thereunder duly had and takon; that said bonds shall be fifteen I (15) in number, shall be dated July 2, 19541 and bear inter~st at the rate of three per oent (3%) per annum from July 2, 1954~ and the denomination or said bonds and their respective numbers and dates of maturity are as shown on Exhibit "B" attached hereto and by rerer~nce made a part hereof. ·2- ~~~~--------a.--•~ I ') u .., • I I ! I • I I l . f ~ 0 .. ~ . 5. That said bonds ahall be issued in aeries} ~d the ~npaid uaesements as shown on said list filed by the superintendent of' streets and determined by·aaid City council, together with the interest thereon, shall remain and constitute a trust f'und tor the redemption and p&1Jient or said bonde and ot the interest which • ., be due thereon, Which unpaid uaeasmenlia s~ll b~ pqable in annual aeries corresponding in number to the nuaber or aeries of' bonds I issued, and an evan annual proportion ot eaoh uaeasaaent 3hall be I pqable in each J18&r preceding the date ot Jtatur1 t;y tor each or the several aeries or bonds issued, and auoh proportion ot eaoh assessment ooming due in any year, together with the annual interea thereon, shall in turn be Pa¥able in installments aa the general taxes of' said City on real property are p_,able, and shall beoo•e delinquent at the same times and in the same proportionate amounts and bear the same proportionate penalt1•s for delinquency. 6. That the s1gn.-turea ot the Mqor and Treuurer be ill- upon said bonds by engraved or lithographed process and hat said City Clerk physically aign said ~nds ud affix t·nereto he corporate seal of sa~ •. d City; the intereat coupons atfixed shall be signed uy said Treasurer or bear his engraved, or lithographed aignatura; and such signing and aeallng of by said ottioera, and signing of said coupons b;y aa14 reaaurer shall constitute and be a suf'f1c1ent and binding ax.oution t each and ever,y one ot said bonds and all ot the coupona thereof eapectively. sai4 bor.da ahall be aubtJ.tantially in the form sat ~rth in Bond Plan c o: Article IV of said palo Alto Improve·~~t rooedure code; aaid Treasurer aad said Mayor and caid Clerk are areby authorized and directed to so sign and atteat respectively. 7. That the interest coupons attaobea to each of said bonds d evidencinp; the interest to accrue thereon shall be numbered onaeoutively and be substantially in the following form, to-wit: -3- n ~ i .. ..., .. • • ------------r --- ~~JG-ll't:lt:·.I~,·~~~~-~~;_1~-A!~~;!~V~': :~-;:;' • ·' :··_..,·;·.-;: ··r:~:~; 1 ~ ~.;";t·:~l'~~ft~~: •, .:·tt:q' '}-., :•/··, • .. -.\:~~ t?.t~~\!~~i·.0't*$;~~~:~~~r~r~t~~:~~~~4ft:~·%t~~~ -{ \ I .coupon No~ -----·----CITY OP PALO ALTO SO'l'A CLARA COUI'l'Y 1 CALIPORNIA Will ,.,~ .. to bearer hereot on the 2nd dq ot , 19 , at .the ottica ot 'Z'fhl!"e~'l'i'la'.Ze~u~ui'::r:i:'tr:z""':o~r~enZ'I"'..a~e,.,.lty' l'lie 8\Ull of 11a1n ... _ hA4--¥c:a;: az-i~.!~~ l!IFZ41A&•-At-... -... -_--) Improvement Boncl .No. __ _ or series xo. Dated: ---------------------------· "l'·~eaaurer or city or Pilo l.'.to * * * * i I hereby certify the foregoing to be a true copy or resolution! adopted by the City council or the City of Palo Alto, Califurnia, j at a regular meeting thereof held on the 9th day of AJIYit ·'' 1954, by the following vote or the members thereof: AYES, and in favor thereof, councilmen: BJ,Xbee, Caehel, Corooraa, Cu.ataa•, Dr,radale, lanle.J, Ru•ton, Marshall, Mitchell, Porter, Ro«aera, .St.paoa, Wickett. NOES, councilmen: Xone. ABSENT, councilmen: Bishop, Ruppenthal • APPROVED: ~tl~~ ~ -4- I r---~ • --~..:.-:-~-~-,~~--,..,..:;.::··;;-:.-~~-:.. :-:--::..-" ,,.... .. •. • -"" •• , .... , ......... ·.·~·· .... y-.... -..-~-"~"-'" ·~·:· ~--·'····-~r!tl''!l"f"~..,...~'\AIIII"t~"'" ~,.... .,,.~ ·'' 1 '(~~~',1\vN".t.\.1•"-l'/'~~~tW'I;jl~l~ .... ~-~~f~~~~~~~~ , .. , .... ··~~~-. :' rA<c/ .' :.~· i ,, ( .. •' ... 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II 10 11 12 ~~ 15 " • • EXHIBIT "B" Denomination • $l,OOO.OO . 1,000.00 333.59 1,000.00 1,000.00 333.59 1,ooo.oo 1,000.00 333.59 1,000.00 1,000.00 333.59 1,000.00 l,OCO.OO 333.5~ ' ·"" o·.f,'• ,.;_. -·,~' ·I '.'II' • ..,.,,_. ; ~ Date ot M&tt~r1 July 2, 1955 I July 2, 1955 July 2, 1955 july 2, 1956 July 2, 1956 ! July 2, 1956 July 2, 1957 · July 2, 1957 July 2, 1957 July 2, 1958 ! July 2, 1958 Ju1y.2, 1958 July 2, 11"59 July 2, 1959 July 2, 1959 ., I I ; • • • • • .J • •