HomeMy WebLinkAboutRESO 473~ ~
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PROVIDIBG FOR THI ISSU.UC,E °' srm:r ~JU>ROV~l'
~ONDS, PRE~CRIBJIG ?BE DEHOllUU.noz: AND INTERESr
COUPONS 01 SUCH h'.>BD8 urn iHiIR Dtl. lVEIY 'iO i'EE
COl~T]ACTOR§.
IHEliAS, the ~OUDQ11 of tAe Oity of
lalo Alto 414, on the l~th da7 of July, 192b,
paae !ta Resolution of Intention lit. 421), :tor
the improvement of University Avenue from the
Middlefield .Road to tne Cil'Cle, under and
pursuant to tnc prov1s1one c:r the"lmprovement
Act of 1911 ", and ameDdmenta thereto end to
the reeolutiona, notice• and other proceedings
of said Ci't\>' duly adopted !!IEld taken, reference
to eetd Resolution of Intention beix:g hereby
expreeely made tor ~urther particularsi and
WHEREAS, the c~;,ntre.ct for S'!id wori:
i:md im"Orovem(l'J'lt wae duly e.w11rded arid there-
after d11ly oomplet~d to the satisfaction of
the Stre~t Super1r.tend~nt and this Couno11.
Whereupon Ml 8.eeeesm(lnt. di ~TRm and W!lrrt.mt
we:re nade, r~oo ... ded snd del1.trered to the oon-
trf!otare in time, form !Uld mm'!ner as reou.;rf>d
by eaid ~ct, and the aontractore h~~ing made
due re tum thereon end the ea.me hav1~ b~en duly recorded; and
WHEREAS, on .B'ebru.a17 9th, 1926,
the Street Superintendent of eaid City made
and filed wt th trte Clerk of this City a
complete list of ~11 aseesemente unpaid
thereunder upon the respective aseeeement
or diagram numberE thereon, whereupon said
Clerk gave notice ot' tne tll1ng of said liet,
and fixed in es.id notice Mondq tne lbt.o day
of .ll'ebruary, 1926, at tile hour of 7•;;o o'oloolf:
!i. iii. •• as t.be time wnen interested persona
mjgJlt appear before tbe Gouncil and show oauee
•.tl7 bonds anou.ld not be ia•ued upon the
eeouri ty of the unpaid aeaeeamente enarrn on
eaid liat or tile sulJseq1.tent lilt e.z c;.mtained
herein; an4
1'HER'EAS, on lebruary loth, a motion
was mad~ and pae.sed to cDntinue the matter of
the ismsnoe of borne to Maroh 8th, 1926, the
date of this re~lsr meeting, and ea.id Counoil
ha'Ving found no o~ectiona agair.et the
ioeuanoe Of S&id bonds, it ie hereby determined
th!l t the aeeeeamen ts ttnpu d therellnd er ~Dd the
a8~1"e!tate amounts of the eeme are 11e followe:
(SPe list of aeseeamente on file)
l'he tot al or aegrega te amount of ss1 d
a11eeements unpaid 1e the 9lm of tf3,3~3.90.
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g( ........... ...__.......-........ -.......... ,, •.. , • .,.,,.. '., ..... ..,..._,,~N·••t»•14,,,.,,_,.,,._,, ... ..,.....,.. ..... ,_ ... jl¥hfl.~~·1---·--.............. ,,.~.I•~-·>-••••-·· ,,....,,,_.~ .. ~-•--•-~-•--•'• .. ~-·--·--·-·__. .. ,,., •••••••·--_....,..,.,...,,.,. .... ,, ,_ ...... _._..,~~~:, .. ...,,., .. !
t1JNIZ .235
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NOW '11£E?f.J'ORE. in oom1derst1 on of tht
prem1e$e, tbe Council of the Cit1 of P8lo
Alto do order u1 followe:
•eot!on 1. That bonie ehall b~ teeue4
u:pon the seouri t)' of tbe unpai4 &eeee•ente to
said ll!TlOUTlt of i23,32:~.90 in !lOC01'4'mlO., with
the proTie.t one of ee.1 tJ i•prov.-mf!'nt ~ot ,~na the
"lmproverrumt Bond Aot of 191611 , and ammi!lmmte
~hereto, and und~r and pursuant to tbe
reaoluttona_ notioee and proceedings of ea14
Council duly adopted aud taken; said nonde ahall
be o al le cl "lmprovemeD t Bonds•, ah.all be .. 40... 1n
number, M.611 'be dated U.aroll a, 1~26, and bear
intereet at the rate of eiz tt>1 per cent per
annum from .ll'ebruary 9th, 1926: end tne dez:io·mina.-
tione of said oonde sod tne interest coupons re-
quired to be attached thereto, w1 t.o their
respective nambers and datee ot maturity, are as
foll owe:
Beri ea
.Number
1-l
1-1
.r-1
1-1
1 ... 2
:r-2
1-2
1 .. 2
1-3
F-3
P-3
1-3 ,_. ,_, ,_. , ....
f-6
P'-£
J ... fi
1-6
J-6
1-6
1-6 J-o ..,_., 1'-.,
1-7 ,_.,
1-8
1-6
1-8
1-6
J-9
1-9
1 ... 9 ,_,
.r-10
1-10
J-10
1 .. ro
.Number
of Bond
1
2
3 • 6
6
"I
8
9
10
11
1!
13
14
15
16
17
18
19
20
21
22
23
.24
26
26
27
26
29 ao
31
32
3!
34
36
36
37
38
31
40
Denoaimsti on
11.000.00
500.00
600.00
3~2.39
1,000 .. 00
tiOO~OO
600.00
332.39
1 9 000.00
600.00
600.00
332.~9
1,000.00
500.00
ti00.00
332.39
1,000.00
600.00
600.00
32·2.39
1,000.00
000.00
.600.00
~32.39
1,000.00
600.00
b00.00
3~2 .. ~9
1,000.00
b00.00
b00.00
~;.,f .39
l,000.00
b00.00
600.00
332.39
1,000.00
b00.00
b00.00
3a2,.3t
Date
.Pqaole
Ju17 2,1927 .. " " " " ..
" n •
Jul7 2.1928 " . ..
" " " . " "
July 2, 1929
" " ill
" " " " " " Jul:; 2, 1930
n " "
" " " " " " .Tuly 2, l 931
" " " " " " " " " July 2, 1932
" " "
ft " "
n " "
July 2, 19~3
fl 11 ft
ti " "
" " " July 2, llJ.;4
" " " n • n
" " " July 2, l9~b
n " "
111 H n
" " " Ju?7 I, lf36 " " .
II It ft
" " .
Section 2. Ss.14 bon<le ehl!Ll.l be
issued in series, an4 the unpa14 aeee1ament1
fie. shown on Sil id 11 st filed by the Street
Su-peri rtendmt Sl.Dd the ·11et '18 shown herein
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i' 236 I
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t and determined by the Counoil. togetner ~itb
the interest thereon, anal.:. remain an4 ooneti tute
a truet tu.nd for the redemption ucl J18.11!1ent
of aal d bond E ar10. of the intereat which m&¥ be
due thereon. whioh unpaid aeoeaamenta ahall be
P&J'&ble 1n 81lnus.l eeriee. oorreapon41JlB in number
to the number of ae:r1e1 of bor.id.e ieeued, and sx>.
eve annual proportion of eao.n aeeeaament e.b&ll
be i;a7able in eacn year preoe~ing th-date of th6
matur1t7 for eaoh of the eeveral eer1e1 of bonds
1eeuei, an4 eucn proportion ot esch aeaesemont
oom1111 du• in any year, togetne:r w1 th th-e snnu&l
interest thereon, 1hall in turn be p91ablo in
1n1tal lmente u the general munio1 pal taxea of
aai! City on real property are pa;yable. and
ehal.l become delinquent at the••• t1mee a.n4
1n the ea.me proportionate amount a s.n4 bear the
eame proport1 ona te pe nsl t1 ee for del 1nqueno1.
Ssj 4 bond! Ph al 1 be 81@1'le d by the
Tre3.eurer of ae.id City !llnd countersigned 'by
the Clerk: ""10 shall l\:f'fi:x th~reto the of:f1o1al
ee&I. of aeid C1t1: the 1rite'!"est ooupone 1-lff'iYed
t~ereto shall be e1p:ned by the Tre!!eU?''J':r or
be~r hie "l'l~rav~d. pr1rtPd or ljtho~r~phed si~atuTe; sl"a su.oJ'I si~n1m imd Stalll!n~ of e~iid
bODdS by S~id Of:fic~1·s~ and· Ei~nir.ig Of e11.id
coupone by e e.1 d '.L':reaeur er eh ell constitute
end be ~ sufficient and bjnd1ng execution f1f
es.oh and ~'Very one of s<Ud bonds ~rid all ot the
coupons thereof :reepecti'\"ely. So.id bo11de ahall
be eubr.tantil'lll.y in the :f.orn: set fortn in &!lid
Improvement Bond Aot.
The interest coupons a.ttached to
eaoa of eai d bonds and evi denoing tne in tereet
to aoa rue thereon shall be numbered consecu-
tively and be .eubetantially in tlle following
.form. to-wit:
Coupon l~o .. 2 •"~~-The ~1t1 of ~a.lo ~lto, ~6.l1fornia. will
pf.t.3 t.o the Begrer hereof on tne second
da1 vf Ju11, 1927, '~ at tne of fie• ot
the City .1.reasurer, aai d aum oei :r:g tne
semi-annual interest. due en improvement
Eond ~o. l of ~eries ~o. z.
Dated:
TreaFurer
~eo t1on ~. Said Bonde ehall be for thw:i th
delivered to the-coritraotore in e~ti flf~ction o'!
the b"llonce due them ".l'OOrt their '9.eeeesment ~nd
wa.r:r~nt.
l he:r"'by certify th~t the foregojng
resolntion wae duly cmd l"f"~1ls.Tl7 ado!)t('d by
the Council of the City of Palo Alto, at 8
re;ml~r mec>t:ltf! ti<ie""'eo:f h~ld ;..arch 8, l9fo, by
the following 'l:ote. to-wit:
A.YES;
NOES:
'Sertscr:e, .oorm. i.:.athc:e.·t, ~·f:neck, .ts.eterd~,
Hobart, iordan.., j(rlly, J..auaten, :r-hoite, Thomae. 1 ng, nooa. •.
None. ' '··
l.BSE~T: Coole1. Cottrell.
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Approved :-'-_&~D,~~~
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