HomeMy WebLinkAboutORD 264ORD 264
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·. '.DE~1:'?.!J.'.'l!i!·:.""$S, ·
at :h$ speci~l bond election held
253 of said City.
to be 11.1.id in itt\ ·ml::p:ro"':'ed streete before t!=.e sr~!:le are
paved.
.!t ift here by d.eter:n '.nee ths t fo~r of sa. id bonde
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peid at said date: :provided tl:e.t t:he inter~et on ea.id bonds
s::..e.11 ·
:.:~pe.yment of ir.terest o:c all so.me unpeid in eacJi and every
h&l:f year; one of said se:n:.t-annual pa.~e.::.ta in e~ch se$'.r
.:be evid enoeod by r•ro:per coupor..s a tta.ched to &act.:. bond. c.
sepe.r.i:-:.te oo;ipon betng attached to ea.cl: bond for eeel: semi-
S.rint:is.l psy--.nent of the interest to become dt!0 tl:.ereon.
~'.'.a.id bonds ehal l be d.~. ted the ;lat (!;~~". ot.' J.;tUle •
. 1~23,. and sl\e.ll be s"J.bst€u::tia.11y ·in tl':.e followi.M form:
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No·. $ l, 000'"• 00
On tbe lst. day of June.,· 1924. the Ci"ty of
e;:ei.ved. ·.hereby pro:i.ises '";-:.) pe;y the· bes.re:: a~ t1 ·~ City
_/~-.
States .o'!' ~:-merios.,. with inter eat thereon in like p:old
eoupo~s hereto attachedo
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date,: ter+or arid,.e:f'~eot, 'but :=.atu.rir.:p eerially. issued by
the City 'Y.! Palo ..i.\,l~o ·:-·or the po.rpoeo of s.eqtti:riD.g el!'rta.i:t
publie munic-ipal ·ii::iprove.mente in and for said City. a~ 1s
1eeued. tUi.der . .and 1n. pursaru:ee 'to ttt:.d 'in co.n~ormi ty w1 th
·~d.inan~e .Nos 253 e.:c.d ~t. 4 of as.id C1.ty ~ and the laws
th.at this bo:a.d is issued 1n :oureu.anee of,.,,.end in con:fo:r.?&1 ty
w·ith' t:he. ·oonati tut ion and laws of the sto:te of Cal i:for:cia
. and the ordi?lanoes of ssid City o"! ·Pelo :Alto\j and i:n
two.:..thirds o'.! all t::he qu.e.li!ied electo:re voting at a
speaierl eleetioJ: .duly and regularly called s..nd held in ssid
C.!ty o?:.: t:he 9th' de.y ot 1"6bru.ery :o 1923. no·tice thereof
havi:ng o~en-: duly and. rot!P:-..lla .• :·ly P..":tven 8.lld published in tb.~
and entered in ~he .manner as reqo:ired b;.v law.
·rt is :r.urtber eerti:fied and deol.e.rec. the. t s.ll
of the provisions and reerc.tre:n:ents ot the coneti tntion
sind le.we o:r the sts.te of Ce.lifo1't1.ie. erld of the o:rd1:ae.nces
of ss..id C 1 ty of ?&lo Al to bava been duly and re-r.ularly
e.nd !ul.ly. o·o!'tplied wit!:. by. the proper ~ffioers o·! said Ci tF
ane in t.he issuanoe of·· thie bond. and tl:.at all acts e.:a.d
conditions and thin~E required by law to b~ d.one _p.reoede.nt
t·? ane !n t.he 1astiance or sa.ie bonde he."7'e been done a.nc heve
been perforr1ed 5.n reB:u1s.r end C.ue :·o:r:l ene in strict
accordance witb the provisions o'! the law autl:orizi:ng said
bonds; and:. t:r .. a;:; the totsl indebtedness· o:: es1d City o'!:
Palo .P .. lto., incluO:inp the indebtednef!s evider..eed 'by thia
iseu.e o~ bon.ds., does not exceed. t1.e limit prescri·bed by the
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. con.st1 tut.ion e.nd laws of the Ste.te o:· C~1l i:'or::::.ia.
sented.nt ::iattl.rity.
Clerk •. a?!d h.~a :oaused the City Clerk to: e.f':!ix t.he:re-to th.e
.. e6rporate se:a.1 of said City or Psl.o .A.1 to,, this l'et~ d!\y of .Juno ..
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S~e intereat ocupona attach~d to said bonde end
fon. to wit:
on the day of ~t~ •• D.'
-:oru:ty o! SS.ntE1. Cl;n.ra,, · ~ta te of CaJ i::o:rnia, t!le sru:? of
. f:i ve
t;-;er:t7ldo11a::rs.t i:r1 ~~old co in o! the 'j:;.i ted States of
o! l92S.
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es.id CitY, <1 fa o .is th~ exec•..z.tive o'J: se.id _ C:Lty. be, and he
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is here .by e.utb::>rized -to sign each and e't"er;~· one cf seid
:bonds a~ tr.e e.xecnti ve -:t'f se.id City as aforeseid, end
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i:e is here by nutho:riz~d to cou..=.terei~ eac~. ene eve:-y
one ol: se.!d bo·:nds cf seid G i ty, and he sbal 1 affix there-
to the e .orpora te seal ':':~ as.id City to ee.cl:. and · eve:t1-" o:-i&
Of Seid b9!lds ~ anC: tr...st ea.id sismi~P' a~d see.l1n 8 aI!a.l.l
. oons,titn.te . and be a e~ffic:!.e:nt ~nd bindinR" e:r.ecuti.on
·o~ e&eh .aD.d ev~ey one o:t' e.aid bonds by t~nd in behalf
. . . . :
0£ e~f{l City, s:c:d. that there shall be litbona:pb~d or
prin.ted J.ipon es.ch and ev;.·ry one · o-r t!~e con:C\ons .e. ttached
to eac:t: o:r ·said bo!!d.S & litt:.o irra.:,?~ec or printed :::e.c
·Sec c. 2. Said bond.e or~3,. b e sold by said
au.ihor i.zed ..
see :~ 3. A.'t.c i (; is further ordained and ordered
that ~l:.e:re sb.e.l.l be levied snd: coll~ctec ea.cl:_ an.c evt..J:ry
yeaT upcn : all prope~ty s:1bject -:o te.:r:e.tion in said Cit:;.
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principel :me.turing
the principr.!i 8nd interest ot said i:nde'btecness et tbe
t·~ .... 1·.,.,..; '?' .,., . _, me. 1:.t... ".t ........ e:reo .... t!:.e City o-r
lection of eeid ta~es, anc ~o~ ~t~ le,"·y end colleotio~
ot all so.me that shall be or may be :ieo~seary to pay in
• t'Ull a:!.l the interest .:;,;1.:c -principf:.;. ot' said 1:onded i~-
·ievy en.all. be made as ~forest~id. in c~s·~ tr.e seid bonds
~ .. nd ~i:e ss id Cou.no il of ~he Ci 'ty o'!? Palo Al to
.further orde.1?1& that their~ eb.ell be e.:n.d is hereby pro-
v1ded a sin.kin~ ~und to be kept thie :resenrer of.' •
said 0ity, to be desLo:-nnteo [l.e the '·'Sin.kinQ; FtL""ld ~or •
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upon s&id bonds. ~n~
CO:rres:pondi?l6Z' bends a::id CC~lpO!lS to €Sid ~ee.s~rer, the·
duty of said :reasu.rer ~b.all be to cancel seic b~:ids and
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· And. ft !.::::: :"'!'.:.ri:her ordained. o ontrac ted. re-·
preee.nted,. pro!4!.eed. arid a..~eed t.(.:.a t r.o:ce Jf the zoneys
.. pu.rpoee than the pa,yme:ct of th~ prir.c :tps.1. o! said in
de-btednesa nn<l t:Ce interest tbereof, unti.l the who!e
s.:r!d provieion.e a.ts. ted a.nd .provided in rela. ti on to tr..e
All bonds of said City berein pro~
·v1-tie-o: to be .1seued., sb.all bee.r ~b.e date. hereinb~:t"ore
shall be lithoP:rSpi:ed o:r printed on bond paper so 'o.e.lled;
end w!':.en properly e::eoutec, · sipned anc eealed~ shall be
.executed. by :hiJ":: to the :~yo:r o:f the City o:! ?e.lo Al to
the
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· b.nd ·es.id City '.:.'!·~a.ea=er sb.al J. "be held responsible on his
official 'ron,d for the safe custody and de1ivery tl:ereof.~
as a.forese..id.
City Qle:rk on t.he bulle_tin bes.rd ~r: -:;te City F.all" e.:::nd.
:iii:.: ord inenee we,s : 'Jl;.~ paesea and a.dopt"'d u.s
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a.n ord.:ina.nce o!" the G:i ty 'Jf Palo A.l to at a:~ 't: .1 anrau3-d..r reg-a.ln-r
meet~.n:;:-of t:Ce Co~cil o:! t:he Ci":~" of Pa.Io Al to held on
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