HomeMy WebLinkAboutORD 115llP" ........... ~ ... ,---1-7....---•,-1•P",__ . .....,...,, ...... , .. _ ... ,_--T"_'_, __ •Mo,Tr• .... '-" •-•"''''."":-... -·• ....... --....... -----·-....... "-".0-.--..•~···-•-•,•••••-•••••-••• ·-•• ,--....,-••·--·~.--.-:---·:-·~·r-.-•-. '" 0 ••• , __ ••••• •-••-••._,,.,..,,_....., -····-·~--.---......--.-_••.---r•-------~--.. ··--........................ ....---•• -... ,-.,..-__....,_,_.,...,,...__.,... __ _,,, .. -.-.. ,-,'"'"""_'W~--·.-----,---_,..,I, ____ .,,,__.,,,_
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OE:D!NANC~ NO,. //6~.
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. ': E!),. n~J;STEDNESS FCF. TH'.£ CITY .Qi F .. AJ.,O .ALTO. nr TEE COU?i'n OF
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. S~~"'I!TA.; OLA.RA,.. ST .. & .. TE . OP CALIFORi.~!A., !:1 T:e:E ·SUX OF HINE THOU~
"' . . "s~1:j), ~!VE·:J!mlDID!D DOLLARS. I!t GOL.D COIN OF THE UN!TLC" ST.ATES
OF AML~!C.A.,, TO P'liY TH.E COST OJl C~'=Jt!~ PUBLIC £1mlC!PAL !ll.-
: P:ton~~~s< 0]'. SAID CIT"'! A.'l\ffi PRCVlD!l;G FOP. T1m !SSUA..'i"CE OF
. BO:h""DS. EVID'.ENC!liG. STJCE: !:N1YP::ST·XDNESS.
'W1il".RF.AS. ·at the epec.i-al bond electicn held in the· ,,.. ' , 7 ·f~"
·· ... "·~ci-ty. of Pal . .,. Alt.a on l(ay 14th~· 1914t U!lder Ordinance No. 10·1
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:' Cif' etid City,. •'-~thori ty was ~i ven to issue bonds of said
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' '7 ~ .Ji' .. ,/. . .. cit:f::i:b. the· sum of :o!!le thousarid !iv& hundred dollars for the
. · ·.. . . . • ·. . 1••f.( /VJ',·I·•~·· b~Mhrt j:•' ~ ~·It. . . . : . · .
· aeq)i:h.it.1on~ldonetruct.1on and completion or a Subway at Psic
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~D~·; · ··'· .~.AJ..;:t.c.· .A~.,~~u.e 1• and'. J.J.ma .. stl-e·et, a.nd ti is deei.-ed to undertake
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· s~:1d·:·work .-1 thoui delay, .l
NOWdl THEREPO~> THE comm!!.. OP TE:E CITY OJ? PALO
AL~Q :OO'ORDAll\ AS POUCWS:-
Se·e~· .. ·.l.
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That. bon ct.a o! th~ City of Palo .Al to do
7 1'~ .p v at,•
. /orthwith· 1asue i.e. the _p:rincipal awn o'! nine thousand ·riTe . ·l-t . ;..~ .... ,,,;.,{,'~··If. ;;. . :.:' .
hun~:i·e<.t · (t9. ;co. co)· dollers., for. th.e acquisf·tion. (cons~ruc-
ti·o;t lt:nd. ·completion of a Subway at ·:&iaio Al to AT@>nue and Ai:.i.
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Strf:et. ); Said 'bonds "Shall be kno~n e.9 •Palo Alto Subny ·
::B:ond·g•: a.nd.. shall 'b.e forty in. number, o! 'the. den-om1na-.
· ·;tloil: ·-ori{t;wi0 .hundred and t.hi::ty·e~v·en dollars and :fi!"ty cents,.·)
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o'f said bond:e a.hall 1:Je pe;y.&ble each and. every year
.~eet1,ry o! said City in Unite.:! States gol.d c:oi,n
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:on .the ·tlret cl"t(Y... J,ta.y in each year from 1916 to ·19~5'-ill ...
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!c:lu.Si.ve, together with interest on all a.wru3 un:p.aid. a.t said
I ,' • ' -", ' ' : ' .t;.~.;.11... ~-l(./~<A1t..t · · 4'.a~.e. ~r-~v'l.ded tbat ·the intereat .on .said bonds .shall be pafd
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aemi~~lly so tr.at ·the:r•:e eha.ll be: a payment 01: interest on
all s:wils: then unl>a:te>:in ~a.ch and every hal! year; one of such
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~eci~~~:.~,~~, payment& .. in ~aeh year b.eing or.t the :firait d.1V1' o!
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·Xay . ~iid:~"·:t.he :.other ·of .. au.ch payments. being on the first day -
· o~ !:'o~:~b:er:; ~t..n'i said J.nterest .ahall be evidence-a by proper --· ' cou.po.na e:t.~a<:hed· to. eacll bo~d ... e. se::?arste coupon beine at-
tached t.O. each bttn.d· O! said. Se.tie~ tor e.&.eh Semi-annual pay-
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men.t of _the· inter~·et. to beco:tne due thereon.
Sal~ b.onds 5hall be da:teO. ·the :f'iret day of t:ay
1915'. and· shall be substanti·ally in the f'ollolrinc; for:=. to wit: .----
No .. " $237 ... 50
· On the f i:rst day o! ~Y . 19_, the Ci ~y of Pslo
.Al.to •. a municipal cor,pora.tion, incorporated under the la.w·a o!
•.the~ State of Cui:rornia, for ii·alue rece!ved ,hereby prom1e.es
to: ~-th:e b-ear.er at t:he City T:reagu.ry o'!' ~a.!d City~ in tiJ.e
c,·,1i.y of ·paio. Alt.¢,. County o:t~ Santa. Clara. S-ca te of Cali:f'or-
. ( V'"·'·_.,-··~
.Clia., .. tbe eum. of Tw:o Hund.rec and Thirty-seven Dol'lara and ..
. \ ~A<.\"•illYlt,.,.._.......... .
·r1:°ty p·ents ($237··50L, in ge>l<i ~~in or t.he United States a!
:Amer_i9a _. _with inte:x>e~t thereon in l.1ke gold coi:c.. :from the
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' ' dat.e. heri!-o:t at the l"&t.e of f1 ve per cer-.tum per a.nm~. pay-
,• ab1e": e.efrJ..~ fl.nnuelly, et the ·City Trert.sury ~ on the. i st .o..ay of
?!.S:y:: ~nd ;:;oyedher of e'ac;:h. year~ upon the preeentation and
eurrenid~.r· oi .the proper-in.t-e:rest coupons be:reto attached.·,.
. T".o.is 'b~nd is one of a eerie.s of bonds o!_ lU:~ date,
. tenor and ef:fe:ct .• 'but ?::atu.ri:ng oeri&lly, isaued by the City
'. <>!. :e:filo Jtlt.o '.for .the p?lrpose of. acquiring certain public mun-, . ' . . ... . .
· 1c1pal im.proiie?":ea..ts in and :r or said. ~:tt7. and i.e. ·is.sued under
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·and. in pure:uars:ee to and in eon! orm.1 ty •1'tb Ord1r..anC$& :& o.. 1O1
.:6~· 1:.04 of' eaid' Cit.y, s.n.c! the· lawe o! the State <:1f c:ali!orn1a.
And 1.~ ts ber-eby cert.1!1ed.,, asserted and. declared
:that .. th.13 bond 18 it:ur1.ued in: pu:rauance of a1ad i.n c.on!or.mi t7
with the, cocstitutio·n a.:id lan Qi° t...~e Sta.tc, of Cslifo::nia arid
: the: o:rdinance"'-ot .. said. City ¢i' Palo Al to. acd .1.n :paraue.nce o:r.
t.Llld 'i\n .conformity with a vote of more than two-th.irde o! all
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the :(iuall:fled ::elect.ore voting at a. special. el~e·t.1on d"t;Lly and
· : reguluiy called.: and held in a aid Ci t:r on the 14-th day o! l!ay >
. i,7.
1·914.·~. ·no·t1ce the:reo!" hs.Vi!l6 been dtlly and :re,gularly" gi v~ and.
publi ~he(t in · tbe, manner a~ !·er ·the period. required by la.w.
·and ilist .the res·ult of ea.id elee~ion has been ca::va.eaed and
. declared W'ld tnitt:red 1n the lnanue·r· as required 'l:iy law.
It ie 1\u~.t.her certified and decle.red t=.t-a.11 ·of the
p.ro·vis1.ons and re:quiremente o!. tbe constitution a;ad laws of
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the Statte or Cal.ffo:rnia. end of the ordi'f."..nn.cee or said. Cf-;y 0:£
P·alo ·.Alto pave ~een duly and re~larly a.nd full:y complied
w;ith'.by':t"he··p.ro.pero:fficf!'re o'f said. City L'").d in the iesus.nce.
qui::r:~ .b:Y' law to· be done p1re.ced.ent to and. in t,he issuance o!
·tsai.:e· ~ohd·~ •ha.Tie '.be·en do~a.P. s.nd have been performed in regu.le.r
. and an"' f·oz-m Md, in strict accordance with "he. :;prov1si·Crl3 O!
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the la,T ~ftt:hGri zi~ said bonds; ·and :that the t.otal 1::J.debt.ed·
ne:ae Q.f, satd C~ty ot p·sJ..o Al.to, including the indebtedness
· :.e .. videnced/ ·._by-tb.is issue of c.ondsfl>. doea not exc.ee·d the lim.1 t
preae~i:bee; b,-:':the co-nett ~utio:J. and laws of the State of Cal·
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: Thia. boil.ti ce.aees ·to bear interest W'lleea _l'resent.ed
at maturity •. ;:
·IN' W!T?iESs: ·W!IEP..EO~'. the .e.aid. C!:~y of .Palo AJ. to bas
:eaused ih.1s bot.td to· tie s1gned 'Oy the ::a.yor atid Treaau.r-er o'f
. said< C~:'ty·. ,and., to 6e coun·tere1gned" by ~ts City C.t.erk,. and .be.8 ·
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... ~a"e:d the .City CJ.erk to af'f.1.x. t.heret.o the corporate seal of
·a.aid C.1tY .. of Pa.lo A..1.tolf this. first d&.y 01 lW,y 1915 ..
Jl.ayor. o:f th.e C1 ty of Pal.o .Al to
City Clerk of the Ci ti of Pale . .Al to
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· a.nd · eTi.den.cing . ~e · int.er~s~ to accrue thereon abs,'.1.J. o~ nu.'Glber-. i .. . ' .
~~.. . eid. c@eecutiveJ.y and sha..ll be eu'l:nitanti$.lly in the 1"ollow:in.g
~, ·ro.rm~ t.o .wit;· (!.b.e., first.: co.upon o·f each. kond. to be :ror. t.ne
~j\,t/I ··•n..'i:.':• o;·ifiv'e do.l.Lnro ~nd. n.in~ty-th.ree eent$. the 'three coupcns
.. tol:l~wing, for tbe e.\.i..• of five dolla;rs &.nd ninety-four ef:nt·&.
and: .eo .on through the seriett .. i
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On t.he first day ot" ------A. D .. , 19_, tb'I!'
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•·TreasUX"y ~! said Ci :~y in e·ai d C.ity of Palo Al to. County o!
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San~· C~&~a~.•· ·st.ate o-f c·&J.1.f<>rnia, th·e sum o!· !'ive dollars·
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and'. ni.nety-·tn::t"ee e~:nts in gold coin o:f the United Sta tee of .... ~..........-.w~·~·'""4,...,....,.,..,,, __ ,....,..~.~"''""'•"""'
Ame:rio:a,;' :tor the· ~~!;-apn~,a,l ,in.!:,erestr due on t.hat d~lte ·upon
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i.te •b:0:ve numbered Palo Al to Sub-aay :Bonds.
And it is fui-the:-ordered that. the :U:ayor of said
·c:ity. who is. the executive o! s~d City, 'be_ and he ie hereby
' &u.TtR,.Or'iz.ed' to sign' each a.nd every one of ea.id bonds a.s the
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eXe•cu.tive of:· ·said city a.a a:foreas.id. and ths.:t the Tree.~urer
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or $a.id ·city be,, and he i a hei-eby anhorized. to sign each
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and. ·ever.Y one of a·a.iG. bonda of et..1 d C1 ty.., s.nd that tbe City
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. . Cierk o! ·.said City: be, ~d he 1 !) he-r~by &uth-or1zeci to cc;unt~r-. ' .
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ai~gn eaCh: en~, e1"ery o-ne (;~ eaiC. bonds of zsaici Ci tr, .and h e
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: o?rall· et'!ix t1'le~eto t.he corp-orate. .8e.al ot .saic1 City' to each :·ii.·. :..·. . \ .. .. · ·. ·:.an.~-e:very one· of: aaid bonds' .and that said signing and seal-. -.;:. . . . . . . . _,,,.
ipi · e.nai:1 ~on~·ti ~ute (llld be a euf!·i~i~nt -and. 'bindl~ e?te~\l-
t.ion o:· ~c.tl and-every ~ne ot' aaid bonde. ~" and 1~ behalf o!
.· ·:: s~i d. ci ·ty ». · aud :that ·· t.httre-$hall be 11 t..liogra.p~~d;~~i~acli .:
··'and every one' of the ~oupo..as 'atta.ched to ea.ch of ea.id bonds .~
· . · .. = . oi · prin~ed.-
.a l.i .tho~aphed :fac . si:nile s·ig.~~ure o: 3aid. Zrehurer . -:;: s.afd
· .; ·.. · " . o:-print.ed ..
Ci-:y •.. and ea.id f'a.c si::nilo li t.no.t;ra:ph~'ignatur~ o: said :"reae-..
'!ll'er· S:"ti&c:hed. to -each of said. coupo:l:!I ~ha.J.l cor.t1ti tute a nd be ·
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a .. e~t!io!eh1t • ~nd bindi.~ exec~tion of. each snd every ~r.:e o'!
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.sa~<i· , coupone by ea.id _ City·.
'. · §ec., ~. Sa.i <! bonde ??lb..V ~e. ·sold . by s-ai d Counc,1 l · o!
·.e.1 the~. p,r-1.Ya:te or p11blic sale ano. wi ·thout fur~er n<>t.iee •.
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· .. '. .. :..the · p.r-oce·edG of the oale of · :a:aid bond"J o:r any <:J! th.em ab.all !·: .·• • . . '
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And :t'-: ifs tur'tber ordained an4 order-.ed
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: that there sb.&l.l .. ·oe l.evied _and.' coll~ctec each and e -very Y,ear
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ficii~ut to . ·pay al l o! the ictereat on eu ch "bonde~ indebted·-
' xieee ae ~said· interest fal.ls du~, and .a ei,lff'ic i e:lt amount al
.: , s·o to '.~pa7 sa id. p ·.ri?:..zipal. matu:ri.o,s eacll and ev-ery year. and.
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: sufficient to pay t.h·e "hole of the ~rinc!pal a::d i~t~.rest o.f
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·;sai·d ,t.nj e-b~edneiu.l a .t. t h e ma:tu:i ty th·ereot. a.nd t he said CO"m
~i .l o! .the/ Gity of .1i~_o Alt o h-e,?'el.>y t:ialc~ provision · 'tor the
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._ , le~-r ap.~ c-cllect.1on· Gt said._. ta.."tea ,. and !_or the levy and col-. .,. . : . . ·.. . . . . . : .
" ".l'e~tio~ cf ai.1 ,8wns that · abe.ll ~:e or . .nay b·e necesa~ry ~o pay
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in :full all the i .at erest. a.:ad i>ri'nci~al· o-i said 'bonded i.C:debt-.. .
•1 .:: + . edness ~ &S · ·the ss.:me a'h.s.ll. :fa.li d ue;~ o nd hereU:i)Ol1 c ontraC't8 nnd
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agreea:11 .. ~epr~s:eu;ts. and promi&ee .~..at such l~vy sh&ll. be m1uie
· ·aJ! ;&foresaid in cae.e the Said bo~d.e Shall be issued as afore-
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::a.aid~ 'and ao far as ~his Council has the power tww to make
And the s.aid C.ou.ncil o! th.er C:tey of Palo Al to fur
.·~thc orda.ina t..~t 'there Sh.al.I. be and 1.S hereby prOYided a
". s'ih:ki.ng r~nd to be.: kep.t by the troaeurer o! said City,. t.c "o.e
·'designated/ .ae the .tsink i~ Fv.nd !or the Payment of the 'Palo
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ar.~ that the P,roceeds of the
ler..f above m-entioned. eh.all be ·paid :S.nto ea.id sinking fund
:as a.oon ae the same eh.la'.l.l be eollec't.'d and a~a:ll remain in
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ea.id 8inki:n.g !u..~d until :req_uired for the resi,'1<,cii"re payments
o·f PX"ine:it>a..l and interest . to be. ~de upon cut.id bon.da. and
that ~hen ~e respe:et1T~ payments o:! the p:rinei;pa.l. "and in ...
terest o.r aa:.t·d bonds ah.till fall due. ;he Tre-aeurer of said. Ci t;y
b~ ... a_~d: he ia hereby auth.ori ,zed an,r,t comrn:lnd ed. to pay o~t o!
·the moneys. o!' sa·1u. sil"'Jd.ng !u..."'.'l.d the aaid ree;pective arpounta
tb.ereo! wh.en,.'.'.d.ema..nd · 3he.ll be made th$re:f'or ·as 'by law re
··q:uired"' and u]>on. the eurr.ender of th~ correepond.ing bonds
and. cou:Ponz to aa1d Tre&Gurer, the duty of 8a.1d. Treasurer,.
· slla.ll lj.e to car.i:ce.l: said bonds and con.pons &$ paid imlr.edie.:te
. ly at·t·e~ their. p8.y-men.t.
At:.d 1 t is further ordained.~ contracted, represent
: :e'd·. pro:w1 e ed. and agreed that no::ie of the z:o:neya paid in to
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said sinkin3 :fund: shs.ll be u.sed '!or aey othe:t· ptLrpoBe than
the payment of the ~rineipal ot as.id ind.ebted?less and the
· in·ter¢st the::recn, '!lntil tb.4? whole· amount of.· said ind.ebted
nees attd int.ertn~t shall .have ·o-.-ee.n ful1y pa.id,. and that each
and.every ene·of the con:ditiona and provisions ltsted and
provided in :relation to th.e said bo·nd.s by s.aid ordinance
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All bond.a of said C1 ty herein provi dee! to
b:e. · 1ssued., shali bear the date herein'betore provided, and
enal.l be executed. and be ready ·ror delivery tO ';he purcbaeer
~n .. paymen't of .purcrAse price. and e:a.all 'be lithographed or
' ·.' ,, .. " ';• .·, pr1.nte~t: c:itr bend.· paper ao ·called; ·and when ;pro:pe:rly execu.~f!!d.
signed and sealed) ah.all be deliver.:ed to t:ae City Treasurer
and a rectd.pt there!or executed by him 'to th~ Mayor o'! the
City /or Palo Alto and City Clerk. reciting the number of
each ,bond. a.nt.1! that the 3a:ae ere to be delivered. to the order
o! · tll.f!; Council c! the City or Pala Al to. approved by the Ma,y.
or., ~nd e,aid City Treasurer ehe.ll be held res:p,onsi ble on his
o:f'ficia.l' bond· for· the ea:f"e custody an<l deli very thereof., as
S~ct ..,i; ... Ordina.n.:C.e No. 104 o! the City of :Palo .Al to
adopted:: July 13th,. '.19l4 11 enti:tled: " .. ~ Ordinance tor the in
eurril'l.g 'o;f a 1?0-nd.ed: Indebted.nese :fo:r the; City of Pale J.J. to,
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in. the Coun;.ty ot s·.-i..llta Cl~ra.11 State of Cdifornia.,. 1n the
Sum of !hirty-iour. Thoues.nd. ::Five Hundred :Dollars. in Gold
Coin o::t,.: ~e Uni.ted sta..tes o'f America., to Pe:y the Cont o! Cer-
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ts.in; l?ublic 3.-:unieipal'':tmprovem.e-nts of aa.id C·i ty a..~d P:rov1d.-
. _ ing !or :the Is.ouanc.e of i'onda Evido!ncing Such Indebtedncse ·"
fs 4ere'by rep~~!!d.~
. . ·• :,,., '' S~c:-· q.. Th.1s Ord.ins.nee shall be posted. by the
c.ity c·terk on the bu:.tle-t1n "boa.rd in the r.;:1ty Hal.l, and J3hs.ll
take -e!fect and be.in force :from and a!ter its paasage.
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1915\ · &.nd wa.a d:lly passed .e.nd. adopted as s.n ordinance of tl':.e
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Cit-:r ·of P&lo·Altl) at the ;ree,-ulc.r meet.inc; of the Council of
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the ic:t>ty' of . .Palo .. ;..,lto held.9n the 12th d.a.y of April, 1915,
by. the fellowing v·~·te:
... ·.· ... J.#¥dJiy,· ~~ 1'47!~v,-,J~ ~~ AYES:r~ ~ f(~ ~JC?;.··fa.J. fl-1··
NOES·: 1(~<,e/ .
~:7-£7 ,m~k
J\.ppr·ov ed by me this
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i
' '