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ll.lIDIliARCE 110. ,;2 -;:2.!2-
.. AJl/:oriinanc. amen4 .1.t18 Section 3 Of ~ajM.n.c •. No. 22l
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aatitl.", ~.Il'1 .' ordiJl:lne. Pl'OT1ding ' "lor the 1ncurr1l:l& Of a bonded
'-.. in:deb 'te~.sa "for the City of: Palo ,Alto,,' in the C.onnt:v of
~t8. ClAl-a. State of Cal.ifor.D:ie .. 1n the su.1!l of Pif't7-fiYe
. . . .
t 'bonsanddolla.rs t 111 gold , coin O:! t 'he tin1 ted Sta't •• ; o!America.
; to pay ' ibeeoet of .· certain 'pub lie mn1e1pal imprOTeme.n.t8 o'fS& 1d
city &J1Ji . prov14.i:ng :!Q1: the. issuanoe of. 'bonds e"'1d~noi~ such
1ndebtedne88~"
!')t.e Coa.nc1.l of the City of Palo Alto doorda1ll
as :follows:
Seet1cn 1. !hst Seot1on3 o"f 'QrdjD&nee lio. 221
of the COllllcil ' of the City of Palo Alto entitled, "All o.r4.1-
~ee pXfi)?!d1ng for the ineurr~ tOf 8. bond8d indebtedness
. for the City of Palo ,Alto.. in the Cou.nty o'! Santa Clar.~.
stat. of CaliforXl,1a. l.B the 8u.m of f:ltty ... ttTe ,thous8llddollars.
ill gOl~CO.1n ;~f th.united States of America, to pay the cos,
ot certainpub11e ·.lIlDllicipal 1mprOTem611te of said. ci tl and. pro~
Tiding, :to 1" the 18s'O.~ce of bonds' evidencing such indebtedness .. "
be and is bBreby ~e.ndea so as to read as ~ollows:
·Section 3. And ' 1 t is further ordained and ordered.,',
that th.ere ehall be levied. a.nd collected each a.nd every '
year up~n s11pl"opel"ty 8ubjeetto taxation in said city a
kx" sUfficient t ope.y all o!the interest on ao.ch bonded·
1ri,debtednes-s aa a.a.id interest fallS due p and a su:f.:f'ic1en t
amoillltalso toconet1tute A 8 in king tmd for the pa1'JD8Jlt o-r
tho principal tht,,:eof on or before matu:rlt7': and auU1c1.n't
to "pay the .hole of the principal Slld interest o! said
indebtedness at the _tvi t) .. thereof ~ and. the s.e.1d Council
ot the City o:! Palo Alto h~reb7 makes provision fo'Zthe
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ORD 222
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levy and collection of said 'taxes. and h.e!'eoy contra.ct. and
.:sro.a t l"e:p~ee$xit8 ad pZ"0Illl1s$s that ettch le'Q' shall" be _4e
U aforeSaid 111 case the Mid. b'onda ahall be issued as afore ..
;8&14, Srnd 80rU as' tIde Cottncil has the power· to make sa14
leTT. it l1e:r'~b:7 mUGS the ape.
ba. ith.e said Council of the C1tyot Palo Alto further
O:rda.1118 that there shall 'be and 1s hereby p.%'QT1ded a.·s1:Ok!"8
fllnd to be' kept by 'the !r&a.slU'er ofsa1d C1 t;y. to 'be '.8il ....
B:ond8 ~ W and that the': proc •• b of the 18"7 above ltI.ent1oned
shall 'be paid into sa14 s1nk1ng fun! a8 soon &s the sa_
ehallbe. co lleeted, and shall ::remain i:.a said sinking fun!
'uut11requi:.ted for the respective p&J"m.e:.te o-f princ1pal and
interest to be made upon said bonda» and then when tha ra-
spect1,.e' pJ.1l!lente of the principal and interest o'f said
bon~8 ehall fall due the Tre&sttre~ of said City bOt and he
-18 hereby author 1zed. and eomme.nd.4.t() pa,. out of the mone,.
of said sinking fUll.I the sa1d respec",1ve a:mo'tUlta t.be:reot'
when de1.!l2.llci shall be me.de tMrefor as bl' law requirecl. an4
upon 'the 8urender of th.e correepond.,1D8 bonds and (tOa.pou
,to sa1d!l"easnre%"t the duty of said Treasurer shall be to
c&DCsl said bOnds and.. eoll.po!l.t'J as paid 1ttt~edia.telJ" after
the 1r payment •
.And it 18 :furtherord.&iued .. c":n'trscted. :represented"
pl':::Jm1eed and &Breed that none of t,ne mone,.. pe.1<l 1ll.to 8&1d
s1:nkin8 fund sbB.ll be used for an,. other purpose than the
payment of the principal of said indebtedness and. the a
terest thereo1":. until the whole amount ot said. indebtedness
and interest shall have been fullJ pSi,d .. and that each and
ever,. one of the conditione and provisions etated and prov1d ...
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.,din relation to the said bonds D7 said or4i.na.nce calling
's8.,1d ,elect1onshall be "omp11ed with."
S&~t!on 2. !h1e ordinance shall be postgd. b1 the
.' City Clerk ~'~~\he oull,etin boud. in tha City Hall,. and ' shall
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'take ot:feet 'and be ill ' force from and after its passage.
, ,.T~as ordinance was duly pa.ss.a. and adopted a8 an
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. '/ ,: or ,d~:~;tftAeCitYo1: Palo Alto at a ,regul~ -e;!J:lS of the
, , C0'QllO~l X;! \~,heC1tr of Palo Alto he ldon the ..!-1'-d.a7 of
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Jtme.:l~:'~.l" "ythefo}lowill&. vote:~, -,,1 I
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APProved by me this ' :LZ.t! day of June, 1921 •
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t ",· fy. ~,~.e;.:-~4 ""'4t'
V&yor ..
, Attest:
%~CI(~~~~~:,-J
'" Ci~~~n-$r1C •
,'r he!'eoy certify that the above and foregoing orcl1"
" %lance . 'was dtl17 paS.8' and posted as set forth above.
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C1t,-Clerk.
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