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Home My WebLink AboutRESO 851')')G _._., • ~ ~ !..!.! .. 2..l:JL!.! 2!. .. ! ~~.!!!. . ,mtso;NTIOJ PROVIDING POR TRE_ISSUAICI! Of IJIPROVDIJ(! !l')IIDS Rlh IllttR>VEdlfT OF HA!ILTOI AVEliJE 1 · 1.1 ~· WHIRIAS, the council ot tb• c1t7 of Palo Alto 414 on the 8th 6a7 or July, 1929, paaa and adopt 1ta· R.IOlut!on ot Intention Jo. "'118 relat1ns to certain work propued to be done and 1aproYement to be ••de in a aiel C1 t7, aa therein d.eacri btld, UDd•r and puoauant to the PJ"OY1e1ona of the "I•Pl"'vem.ent Act ot 1911" and qendMata tllareto, ara4 did therein provide that aer!al bonda would be iasued tbere- under in the manner proYided bJ the "Iaprovement BOnd Act or l916w, refersnoe to ea14 aeaolution ot Intention being berebJ expr•••lr aade tor further particular•; and WHIREAS, the contract tor aa1~ work and improvement •••· duly .. arded and thereafter dul7 coaplete4 to tbe aat1atact1on ot the Superintendent of Streeta ot aaid City and th1• Council, wn.reupon an aaaeaament, warrant and diagram were •~de, r•corded and delivered to the contractor in t1m•, torm and manner aa required 'bJ 1a1c1 sot, &'!ld the contractor haYing made due return thereon and the .... having been dul1 tiled; and WHJRIAS, on J~&rJ 31, 1930, the Stree~ Superintendent ot aaid C1ty.aade and t1led with the clerk of thle OitJ a ooaplete 11at of all •••••.menta unpaid ther~der upon the re~pect1ve ••••••ment or diagram OWMbera thereon, whereupon, aaid clerk save notice or the f1&1ng of aaid liat, and fixed in aaid notice the lOth day or February, 1930, at the hour of 7s30 o•clock p.m., ae the ttMe when interested pereone might appear before the Cit7 Council at the replar aettng place or laid Cit7 in the City Hall and ahow oauae whJ bond• ahould not be 1aauod upon the ••c\U"ity or the un,a1d at8esamenta anown on aaid 11*t, all ot whioh. appear• from affidavits on tile in the o!t1ce ot aaid cle~ka WHEREAS, there having been no proteata or objection• againat the 1e~anc• or bond• a• atoreaa1d presented before or at the t1a. ot aaid hearing; and WHEREAS, ainoe the tiling by eaid Superintendent ot Streets or eaid liat of aaaoaamenta UDJMl4, the following aaaeaamonta have been paid, to-wit: (See liat in original reaolut1on tn file) aggregating tbe total aum of $8,32,.~7 leaving a balance due on acooun.t ot said unpaid o.aeeaamenta of l-42 ,6'72 .'72; and eaid liat of asaesemanta unpaid• tiled by said Street SUperintendent •• aforesaid, appearing in all reapecta ooaplete and correct after, excepting and deducting therefrom the asseaamenta paid aince the filing thereof, aa here- inabove tot forth, BOW, THERER>RE it 1a hereby resolYed and fo'UDd and determined by said Council, that aaid 11at or aaaeaa- menta unpaid tiled bJ aa1d street superintendent aa aforesaid waa at the ttse or said filing thereof 1n all reepecta coaplete and correct, and that ainae the filing thereof! aaaetamenta have been paid aggregatins the aua of t8,32,.87, aa hereinabove aet forth, and alao that the unpaid aaaeeament1 in the proceeding• dul7 ha~ and .... ':.IJ :.,., .... ' =-r l i t l l l . I l ~~ ·' - ·~ '1 ) r ~ .,.,.,. ____ , .. "~------...,~-"----_,•·•--.,.,._., • ., .,,...,,.....w.-y~~'lf'J>M'It~~"'l.~;"'-•~~·~.'\U~·J'l','!"_·,'»"li·•ll'V:.'"~'~_,.,"*!!_"'fil#~~:~rol,_,·~:l',:·~~~.·'~'(~f".Nl';!t~ "'J'···f'·'"'-;·~r~'JI",~~!l'1"~1'~'~t~~I)>;::,Iw. I : taken ~r aDd PQrauant to aa1d reaolut1on or Intention Jo. '116, *114 the aggregate ..,unt of the •-are aa follow•; to-wits (S.e l1at 1n or1stnal reaolut1on in tile) and the ••14 Council 4oea barebf fUrther t1nd and det•rmine that ~· total or a~gate amount or aa1d aaaeaa .. nta unpa14 1a the ~ ot tt2,672.72J lOW !H!RIFORE, in consideration or the pre•iaea, the Council of the City ot Palo Alto doea hareby fUrther reaolve aa follows, to-witt section 1. That bonda •hall b& iasued upon the aecu:ri t,-or aaid unpa14 '••••smenta in the aaid uount ot $42,6'72.72 in aocordanoe with the prorlaiona or aa1d "Improvement BOnd Act of 191111 as amended and aaid .. Improye•nt Bond Act or· 1915" u amended 1134 under and purauant to the provisions ot aaid Resolution of Intention :No. 74'7 81:\d the proceeding• therelmder ciul7 bad and taken, aaid bonda shall be called "Improvement Bonde•, ahall be auty (60) in number, •hall be dated P•bNary 10, 19~0, and bear J.ntereat at the rate or aiX (&) per cent per annum tro• Januar1 31, l930J and ths denomination• ot aaid bond• an4 the 1ntereet ooupona r•quired to be attached thereto, with their reapeotive DUabera and date• or maturit7, are ae tollowa: (See original reaolu·tion in tile) Sec. 2. W1 th reference to said bond a haYing a denoJI.1nat1on ot tlOOO.OO, the tiret coupon attached to each ot said bonae shall have a denomination ot 155.33 and the au"bae'luent ooupons atta9hed to each of said bonds shall have a denomination or t30.oo. With reference to aa!d bonda having a denomination ot t&oo.oo, the tirat coupon attached to eaoh or eaid bonds shall have a d.enozrdnat1on ot $2'7.67 aud the aubaequent coupons attached to each ot said bonds shall ~ave a denomination or tl5.00. With reference to said bonda having a denomination or $267.28, the first coupon attached to each ot aaid t~nde shall have • dt~nomination ot tl4.79 md the aubaequent ooupona attacud to each or said bonds sb.all haYe a denom1nat1on-ot tS.02. With reference to said bonds having a denomination or t267.27, the r.trst coupon attached to each ot ea1d bonds ahall·ha.-a 4enoa1nat1on ot tl4.7i and tho .ubsequont coupo111 attached to each or aaid bonde shall have a denomina- tion or .8.02 •. · The t1rat coupoua above referred to ahall represent interest upon the principal ot the rospeotiye bonds to which the same are respectively attache4 coming due J&DD&rJ 2nd. 1931, and the subaequent coupon~ above retorrod to &hall represent the interest coming duo on ~e principal of tne respective bonds to whicb. the aame are respect1Tel~ attach•d for the several aem1-.annual periods subsequent to said date. Seo. ~. Said bonda ahall be 1aaued in aeries, and ~he unpaid ••••••••nta aa sbown on said liet tiled by the SUperintendent of Streets and determined by the aa1d City Council together with intereet thereon, ahall remain and oonatitute a trust fund tor the redemption and payment o! 1a1d bonda and ot the interest which may be due thereon, 22:) I .~ J. i f ; ~1 " ' ; ·~ ~~ . 4 ~ ' ~ i < .i J ~ ~ ·i ., ~ ~- t ! ! -~ l -~ ' ( '· ~ 1 i ,, ~ ·~ ~ J ! ~ ~ l ;1 l -~ '~ t - 224 which unpaid •••••• .. nt• shall be pa~able in aaaaal ••rtoa corr••pon41Jl8 1n lalllbe:r to the IIUlber ot aeri•• ot borade taeued, and an enn a.nnu.al proportion or each uaeaijMnt thall 'be paJable in each ~ar Pr4'COdiJ18 th• date or the JU.t.ur1t7 tor each ot tho ••veral •erie• ot boD4• itned, aa4 ~ob proportion or ••oh ••••••ment coaing due in &DJ 70ar, toset~r with the annual interest thereon, thall 1n ~ be pa~able in 1natallmontl aa tne seneral .un1clpal tax•• ~r said City on ~al propertr are pa,.abla, and ahall 'beooa¢el1nquent at tb.e auae t11l• and in the aame proportionate amounts and bear th4t aame proport1onat• penaltie• tor delin"'ono,.. ·. Said bonds shall be 11gned by thi.Treaaurer of aaid Cit7 and counteraigned OJ the clerk who aball atttx thereto the ott1o1al aeal of aaid City; the intereat coupon• attixed thereto ahall be aigned by the Treaeursr or bea:r hi a •ngraved, printld or 11 thographed a1patur•; ana auoh a1gning and aealin& or ••1d bond• b7 ••14 officers and a1gn1~ ot aaid coupon• b7 aa1d Trea1urer shall constitute ana be • luff1o1•nt and b1nd1ns execution or each and everr one ot aa1d. bonda and all ot tbo coupona thereof reapaatiYelJ. Said bonda shall be aubatantiallJ 1n the torm set forth ·in aaid "Improvement Bond Act of 1915", •• amended; aaid Treasurer &D4 •aid cle:rlk are berebJ autboriaed and dlrected to ao a1gn and countersign reapeat1ve11• The 1ntoreat ooupona attached to each of aaid bonds and evidencing the 1ntereat-to accrue thereon shall be numbered conaeout1TelJ and be aubatant1all7 in the following form, to -w1 t : coupon No. t The City ot Palo Alto, ca;t1torn1a, will pay to the bearer hereof on the second day ?f f at the ort1oo ot the City Treaaursr, 1&1d aum being the aea1-annu•l interest due on Improvement Bond No. of Soriea Jo. Q. Dated: H. F. Congdon Treasurer Sec. 4. Said bonda.shall be torthwitb delivered to K.S. Hanrahan tbe contractor in aat1ataot1on ot the balance due htm upon his asaeaament and ••rrant. I herebJ oert1fJ that the foregoing reaol~t1on ••• duly ancl replarl7 1ntroduo•d and adopted bJ the CO'Wlcil or th• City or Palo Alto at a regular aeet1q th•reot held ~bru&ry 10, 1930, by the following .ote,.to~w1t: Miss tugnkBert•ij•i C;t:hcart~ Chr1atena•n~ Robar ~0 aqn, 1 7, uaten Mosher Reyno 4a, o1ts, ra. omas, tbialer.' AYES: JOESt lone. ABSE'N'r : Thou•, Wood .. «1~ c1t7 Clerk 19 . ·····---··~~--,:::-··1 'll :"r.' ;;I : I . . _j ' ~1 ~ J ! ~ l ·~ .~ ' ' .; ., ,,. .. .._