HomeMy WebLinkAboutRESO 2996nf!
allatialhah 5-T-5-12
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bonds zyi ir> tt4i4'bor ' i
instatild• i.C_ r ;+ a :u ;rtx :twv'k> t.:tti' tt0r'..
in k,. '; rfib' 'i'zs teetion that said fors sba
be sabered to f ►. tit 'a` * i' '°S•o 'oeth
ig i . r ' wag', Petikt `i�a�Ed''' isi' ►d ` t ' sdli �eeeit ac s�1iy 1i` o"f
lio dC. 4 i `i3tiYhC d ' !° °'" i ars ($280,000) in
prinoipal s `+utt, . t}�t i i' 'i : phi = t11 `°'iid
ItiSTAisfininiii iambi
ti� ►a a;t repr'elt n red ` ythe `f1ret,y**upon shall. be for the period frog
June't3, 1 O ,t', Y iM` 7r, ''` tfiraii61 ettekiklia
s?dwi ` )its (` ti 5 i:,+ d '� y�y,' fief,] ' tie ari � 1id c
kV YiiV yi i9M`W�i. 1+� ` i1 iw VrY f,�W• �`i '?'�MSIi Y Y�•+''':
soiut�tt' 1d: p ►, ''Fpo fc° �, es'i �` Ott 'litovidins
or lesuanoe of 104 ParkIng Bonds Series A almond Division, adopt
400' +:. •? {i h of ', ,,t,1 ' s+j�e1"yi
*V` :/ vig h ,r5 *V`' 511;1 t to
°11114:T44t4iii 'D,
aY a t:.,."4p,;'4' 4 t -M1of t ,.. net revenues to be
11"1104tierl!"),
fifty percent (. j of . the annual net revenues to be derived
Wine tits' lei sitAhreet parkins facilities heretofore or
y. W
hereafter initialed, or aelsiredin or for the university Av
Ooas,ereia►l District ers
Dvtatis
ni d0d,
t at su.Wti e shall net be
the tc a $ net revenues to be derived by the
'S.IklPyer�¢r+r ast
A
e t e e
City front the off-street pas deg fiet].itiee to be sequined
from the proceeds of the bonds of this issue. These pledges
constitute a first and prior lien on said portions of said
net revenues, but are not and shall.not oonstitute a limita-
tion or restriction upon the power and duty to levy an annual
ad valorem assessment upon the taxable real property within
the assessment district sutfioient to par the principal of
and interest on said bonds as they shall accrue and before
the proceeds of another such levy shall be available therefor,
which power and duty is deolared to be inexhaustible in nature
and unlimited as to rate of amount."
8. The bonds of the Second Division shall bear interest at
not to exceed five percent (5%) per annum from June 15, 1958, pay-
able January 2, 1959 and semi-annually thereafter.
9. The form of coupon provided in said Resolution No. 2494
shall be altered to indicate the said coupon is for Second Divisiol
bonds dated June 15, 1958.
10. Resolution No. 2494 is hereby amended to the extent that
its provisions are in conflict with those of this resolution. In
all other respects the provisions of said Resolution No. 2494 shall
govern the issuance and sale of said Second Division bonds.
1 hereby certify that the foregoing resolution was duly and
regularly passed and adopted by the Council of the City of Palo
Alto, Califoxn4a, at a meeting thereof held on the 12th day of
yay , 1958, by the following vote:
AXES, and in favor thereof, Councilmen:
Bishop, Byxbee, Corcoran, Cresap, Davis, Evans Giffin, Marshall
Mitchell, Mavis, Porter, Rodgers, Nuppenthal, Stephens, Woodward
NOES, Councilmen: None.
ASSERT, Councilmen: Nene .
4