HomeMy WebLinkAboutRESO 934i
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· . IJDIAS, th• couno11 If the o.U:r or hl# Alto 4H,
oa.·tbo, Nth 4t.y or A,._t, 190, pasa .-n4 adopt 1t•
.. 10lutton ot lntentioa lo*'" "l•tblc to o•~.S.n wo:r• PMP'••4 to be. dont •-'. lllpJ-O._'ilt ·to 'be . made· ill' 1 aiel
· CltJ, • the.tetn •••ori bed, under aDd putlll\Qt to tbe
· pro•1a1one or the •t•j'4'o<reaent Aot ot 1911,. Qd· ·
amendment• tbeHto 11 •mt d14 theN11l prov14• -..t aerS.al
boud• woul4 b• 1asue4 thenu.nder 1~ tbe a&Jml.!' ,...S..,
'bJ tb.e "Impi'OY••nt Bond .Mt ot lil&• 11 r•tVhO•~::to ·aat4
Resolution ot Intention being hereby expreaaly made
for turth.el' part1oulara ; and.
WHEHBAS tbe ooatraot tor aaid work aa4:
improYentent waa duly awane4 a.n4 .ttLeHafter dul7 0011Pl•te·4
to ~· eattataotion ot the Superintendent ot lt~eta
ot eaid C1t;r rnd thla oounotl, wheMupon an •••••••at, warrant aJ¥1 41a;ru were !Md.e, recorded. and 4al1v~
to the eon.tractor ln time, tom mcS mannor •• required
by aaid.aot, and tho contractor having made due return
t~reon and th\S ame having been duly tiled; and
WBBI!AS; on October 8 19~0. the Street
Super1nt•n4flnt ot· said City ma!e am tiled with the
olerk ot th1a Olt7 a compl-.te liat ot all •••••menta
unpaid thereunder upon the respective aaaeacment or
diaaraa numbers thereof, whereu~n, said olerlt save
notloe ot the t1l1ns or said listi and fixe4 in said
notice tho lOth day of Noveabor, 930, at the hour ot
8:00 o•olook P.M., a• tbe time when 1ntere1te<l pereon•
m1gbt appear before the C1 ty oourJcil at tho ropleP · , ··
m•ettns plaoe or aaid City Council 1n tbe 01tJ Ball
and. abow omue why bonds ahPuld not be 11aued "C&pon the
security ot tba unpaid a1aeaameuta &hown on ea1d_l1at,
all or whiob appear• trom at1"1dav1 ta on f'!le 1n the
ottioe ot aaid olerkJ
W!tiREAS, there having 'been no protest a or
objection• a.aunat tbo 1eauano• ot bonda aa atoreaa1d
presented before or at the .time ot •a1d bearing; aDd
WHERBAS, sinoe the f1lin&.'T aa14 Superintendent
of Streett of ea1d list of ••••••menta unpaid, the
following aaseasmenta ha~• been paid, to-wlt:
(See liat in original re1olution)
aggregating the total sum or $1,-'96.2'7 leavlns a balance
due on aeoount ot said unfa1d aaaeasmenta ot t14,350.l3J
Uld a&id l1.at o! assessments unpaid, f11•4 1:>7 aa14
Str•et Superintendant as afore•a1d, ·appeartug in all
Nepeo ta oo111pl•te and correo t after, except in& tn4
decluotizt..g tbflretrom .the asseatmente paid 11noe the
t1l1e& thereot, aa neretnabove set forth,
. ROW, ~-. it ia b•r•b:r reao1Ye4 and found
uAi 4eten1ne4 bJ' aald CO'I.\nc 11, the.t a aid lllt ot
u•••a'II:Cta unpaid filed by aa!d St"et Super1ntend4mt
u a:tcu.-•aa1d waa at th• time of said f1UD& thereof ln
all n•peot• complete and eorreot, and that ainoo the
ft11q ·tbfareot, aeaeaament• have beGll pd.d aggregating
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·t)W __ •• ot tl1418.rS1 •• h•:r•tnaboYe aet tonb, . .m aleo
that th• wpa1d u•••••nta -ta .. u.e proo•MS.as• du.l7
h&A Q4 telcen . undsr Qd. pu.r•uat to · aat4 Reaol'Q:tion ot
Ietentlon lo. '1!1'1, and. the aciNI• te .-uat ot -t.lla
aame are •• tollow·a, to•w1t: . . -·
fSeo liat tn or1a1Balnn.W.tton}
.. th8 1&14 COUM11 doea. heHb1 tvthel' find and
4•t•l'lllne that tbe total . or &fk7•J•'-tsm\Ult or aa14 ••ee•••ntl unpat4 te-the au ot fl,_,3J0 .. 11J . ' ,. '
· lOW 'l!1EDJDD11 1n. eoni14•ratlcm ot tho p:Niliaea,
the Qouqil ot th• ·0·1 t7 ot falo Alto·· ••• h•rebJ tunher
Haolve u tollowa, to .. w1t-: · ·
S.ot1oA 1. That bond• ah&ll be ian;ed upon the
aecur1t1 or •a14 un,.ld ••••••menta 1n the sa1d amount
~t fl4,360•la 1n acoordanoa with the proviaiorut of said
.. lmproyement Act of 1911" as amen4e4: an4 N-14 .. Improvement
'!ond _ Ac·t ot 1915" ae amended cmcl ~r &Dd. purauant to
the provision• ot ea1d Reaolution o·t Inhnt!On Jo. '7Q'7
and the pi'Ooee4inp thereunder 4\117 ha4 tm4 tU.n, aa1d bond.a ahall be called ,.Improve.-nt so-.• 1 shall be
a1'&t7 (60) in number, shall be date4 lfo\'emb•r 10, 1930,
and bear lnterea,t -.t the ra.te ot (f) aix per cent per
aru1Wil trom Octota;~.,~,:, 1930; u4 the 4enom1natione ot
ea14 boud.e and tbtr interest ooupone requ1re4 to be
attaObed thereto, wltb their reapecttve numbers and datee
or matur1t7, are aa tGllowes
(See list in original reaolut1on)·
Section i• With retereDCe to aaid bonds baving
a 4enom1natlon ot JlOOO.OO, the tirat coupon attached to ·
eaob ot asa.S.d bond.a ehall hav-e a danc•m~.nation or t'74.00
and the subsequent coupons attached to each or said· bonds
ahall have a denomination or i30.00 •
. W1 th retsronce to sa.id bonds having a denomina-
tion or flOO.OO, the first ooupor. attached to each of
said bonda ahall have a d~nomination or $7.40 and the
aubaaque:nt coupona •ttaoheci to ~!tach of said bonds shall
h&V$ a denomination of t3.00.
Wltb reference to asaid box1d1 having a
d•nom1nat1on of t35.0l, tbe tirat coupon attached to
eaob of said bonda shall haue a denomination of $2.59
~; and the subsequent coupons 4tttached to each or said
bonda ah&ll have • denominati~n or $lw05.
With reterenoo to said bonds hav1na a d6nom1na-
tlon ot f35.QB! the first coupon attached to each ot
aald bOnda slla l h&Ye a denomination of $2.&9 and the
subae~ent coupons, ~ttacbed to each of aa1u bonds shall
have &-denomination or tl.05.
The t1rat coupons above referred to ahell
Hpnaent interest upon the pr1netpal ot the respective
bOIUla to which the same are respectively ath.ohed
coming due Ju ... 2, l9al and the tubeequent coupone above
re{arred to lhall repraaent tl'l.Q 1ntere~a·t oomlnf due ·on·~· prlt1ctp~l o.t ial• reapGet1v., bonda to wl'l. ah t:ae t&e• are reap•ot1voly attaeh6d toT th~ ae~eral aemi·
a~al perioda aubuequent to a&ld date.
. . Seo. 3. Said. bOlida :.ahall ba · 11811•4 1n 1er1ea,
and th~ 'W:lJ*1d aasEUhlm«tntt as shown on said.· list filed
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'bJ· tM .. luper1.nten4mt of: a~eeta . ..nl·:~~ ltt1•U..'
all1d .. C1.tt: Coimof.l toses~Jiiti-h ... ._., tU•Nilj·' .• U · rOilda.aD&l caon•tttute a tnat ·~:fN'.~_..,.~a': i
and f*,_at ot. ••14 bo~•.,•4. of ,.. $-tlttru' Wb!•.b •7
-4wa tber.on• wbioil WlP&id •uuu••'~r.-t•::euu be payable in armual oart•• cor~spowUnc. u nusbez· to the
number of a•n.ea ·Of bonds 1aeuR1 and an 'II'VC lllml\l&\l
proportion ot o&.oh a.aae~asllifnt ahall be ·pvaltfle 1n each
;year p:r.~~eoGi.DI£ tao . de.te ot tb.Ct •turi t7 fOs-eao.n of tll•
aeve:ral aertea ot bon41 1aaue4 .· ~ ~•h p&I'O~ztt1on ·
of each aa.et•••at .eoldft8 .clue lr, &D1 1•u.• tosetho:r w1tb the annual interest thereon, anall in turn be payable
1n 1natallm~u1ta •• 'tml pn..ral lliu.rdo1pal tuea of aa1Cl
.01t1 on real propertJ are payable, a.n4 ahall 'bHOM ·
delinqu•nt at t• lAme times and 1n t.be satne p~port1onate amounts and bear tbe. aamtt proportionate penalt1ea for
c'lal1n'itt.encif.
Said bonda al:lall 'ba. eign~d. by tne Treasurer or aa1d
01tJ.&nd counters1gnecl.lr.r the clerk who shall affix thertJ~to
tt&e f.\tf1e1&l oea\l of. ae.td Ctt~n the interest ooupou affixed
tl'lereto .lh~tll.be aiped. bJ thO: Treaaurer or bear h1e .
eJipave<l,f1'1nted ot-l~ tb.Ofraphed a1gnatUJ>e; and auoh .
aign:tng a.nd ·ae&l1ng ot aa d bon4s by said officers and.
signing of l&id ooupona by a aid Treaaurer shall oonsti tute
and be a .. au.ft1o1ent and b1n.diq execution ot <tach an4
every one··. or •aid bonds and all ot the coupons thereof
raapeot!.vely. Said bondo shall be aubstaat1all1 in the
tor.:n te\. forth 1n a aid "ImproveiMnt Bond Act of 1915" ·,
as amonde4; said.Trea.surer and. aaid clerk are herebr
authorized and directed to eo a1gn and countersign
rea~ot1vely.
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: The 1nt~treat coupons attaohe.d. to ea~h of said bonda •.
a.n.d evi1denoing the interest to accrue ·thereon •hall 18 numb~MII oona•out1vely and be aubeta.xltiallf 1n tho following
form, ~r:.•wS.tt
... Coupon No. . $
Tbe City of Palo Alto, C&lU"orn1a,. w111
p&y to the bearer hereor on the second d•y
. of l9 , $ ·
at the office of the Cit7 Treasurer, aa1d
aum being the aam1-annaa1 intereat due on
Impx'Ovement Bond. llo. of Series Uo. T.
Pate4:
H. F. Co!lgdon
!rlaiurer
Seo. 4., Sa14 bonds shall be forthwith delivered
to .N. 14. Ball. ot Port•rvllllll, the ·contractor, ln aati.sfaction
of the balance duo bill upon h:b a••••ement and warrant.
I hcre~7 oertlty that the tor•aoina reeolut1on wsa
du.l)' .acl reQ\U.arlJ 1ntrocl\l0ed and Aeo)te4 't:ly the OollllCtl ot I tho CitJ.Ot P•lo A.lto at a roauls.r meotin.g bhereot h•Y· ·.
BoU!IIbeJ' 101 liH, bJ the following vote,t;e-wit: ·
·~rtaclie Cathcart, Chl'iatenaen, Hob.,rt, J<>,~lo.n AYU: Judton, hlly, 11 toholl, Mosher • Tl:w1 ta, Thot!UU~•Ira. Thomas. '· ' ' ' ' .
IOU:
~Tz
!tone.
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Attest: __ ·~-·-···· ,.Approved:Jl.~
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