HomeMy WebLinkAboutRESO 2994RESOLUTION NO. 2994
A RESOLUTION PROVIDING FOR THE ISSUANCE OF ,qe
PARKING BONDS OF 1957
SECOND DIVISION
UNIVERSITY AVENUE DISTRICT OFF-STREET PARKING PROJECT
NO. 52-13
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RESOLVED, by the Council of the City of Palo Alto, Santa
Clara County, California, that
WHEREAS, pursuant to authorization theretofore given, the
City Council of the City of Palo Alto did, on the 8th day of
April, 1957, adopt its Resolution No. 2832, A Resolution Providing
for Issuance of the First Division of Bonds, to which resolution
reference is hereby made for further particulars;
WHEREAS, in said resolution, said Council provided for the
issuance of the First Division of the "University Avenue District
Parking Bonds of 1957" in the principal amount of Four Hundred
Fifty Thousand Dollars ($450,000) and said First Division has
been heretofore issued and delivered, and said Council now desires
to provide for the issuance
and
sale of the Second Division thereof)
in the principal amount of Four Hundred Fifty Thousand Dollars
($450,000),
NOW, THEREFORE, it is hereby determined and ordered, as
1. The bonds of the Second Division of said authorized
issue of Nine Hundred Thousand Dollars ($900,000) shall be in the
amount of Four Hundred Fifty Thousand Dollars ($450,000), shall
be called "University Avenue District Parking Bonds of 1957 •
Second Division", shall be four hundred fifty (450) in number,
shall be numbered consecutively from 1 to 450, inclusive, shall be
payable in numerical order consecutively commencing with the lowest
number, and shall he dated June 15, 1958.
2. The bonds of the Second Division shall mature and be
payable in the following principal amounts on July
the following years:
$10,000
15,000
20,000
25,000
30,000
25,000
30,000
principal
principal
principal
principal
principal
principal
principal
amount
amount
amount
amount
amount
amount
amount
in each of the years
in each of the years
in each of the years
in each of the years
in the year 1984;
in the year 1985; and
in each of the years 1986 and
1959
1973
1980
1982
2 in each of
to 1972,inclusiv
to 1979,inclusiv
and 1981;
and 1983;
1987.
3. Said bonds shall each be of the denomination of One
Thousand Dollars ($1,000) and shall be numbered and mature in the
following amounts on July 2 in each of the following years:
Total
Bond Nos. Principal Amount Year
1-10
11-20
21-30
31-40
41-50
51-60
61-70
71-80
81-90
91-100
101-110
111-120
121-130
131-140
141-155
156-170
171-185
186-20U
201-215
216-230
231-245
246-265
266-285
286-310
311-335
336-365
366-390
391-420
421-450
$10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
15,000
15,000
15,000
15,000
15,000
15,000
15,000
20,000
20,000
25,000
25,000
30,000
25,000
30,000
30,000
4. Said bonds shall oe substantially
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
in the form as provided
in said Resolution No. 2832, with the exception that said forms
shall be altered to indicate that the bonds are of the Second
Division of the Parking Bonds of 1957, that said Second Division
comprises a series of bonds aggregating Four Hundred Fifty Thousan
Dollars ($450,000) in principal amount, that interest is payable
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semi-annually on the 2nd day of January and the 2nd day of July,
in each year, except that interest represented by the first coupon
shall be for the period from June 15, 1958 to January 2, 1959,
that the date of said bonds is the 15th day of June, 1958, ind
that the resolution providing for their issuance is Resolution
No. 2991+, A Resolution Providing for the Issuance of the Second
Division of Bonds, adopted May 12, 1958.
5. Interest shall be represented by coupons which shall be
attached to each bond. The amount of all interest coupons will be
the sum due for interest on such bonds for the previous six months,
except that the amount of the first interest coupon will be the
sum due for interest from June 15, 1958 to January 2, 1959.
6. The form of coupon provided in said Resolution No. 2832
shall be altered to indicate that said coupon is fur the Second
Division, dated June 15, 1958.
7. In all other respe is the provisions oc said Resolution
No. 2832 shall govern the issuance and sale of said Second Division
of said Bonds.
* * * * * * * * *
I hereby certify that the foregoing resolution was duly rnd
regularly adopted and passed by the Council of the City of Palo
Alto, California, at a regular meeting thereof held on the 12th
day of May , 1958, by the following vote:
AYES, and in favor thereof, Councilmen:
Bishou, Byxbee, Corcoran, Cresap, Davis, Evans, Giffin, Marshall,
Mitchell, Navas, P:rter, Rodgers, Ruppenthal, Stephens, Woodward.
NOES, Councilmen: None.
ABSENT, Councilmen: None.
City Clerk oi the City of Palo Alto
r/mot:
Mayor
olazs
Alialillab
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