HomeMy WebLinkAboutORD 320__ i..-__ __. __ .._...,. ................. ~._._ ........................................................... i.1 .. lm!!I
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0 R D .I N A N C R .N O. 320 _.. --·. -'-' - - ---- -_.._
AN ORDINANCE PROVIDING FOP. TEl!! EXECUTION AND
SALE OF BONDS OF THE CITY OF PALO A.LTC~. KNOWN
AS THE "POWER AND WATER BONDS< OF NINE!I~
TWENTY FOUP."
The Council of the City o·f .Palo Al to
DO ORDAIN as follows:
WBEP..EA.S, at a special bo:n:d election
held in the City of Palo-Alto on August 8th, 1924,
under Ordinance lo. 293 of said oity, authority
was given to issue bonds of said city in the sum
of Eight,y Thousand ($80,000} for Power and Water
Plant of said ci q. · ·
And WHEBEAB a:f'te:"." said authorization
by the electors to issue said bonds the Council. of
th~ City of Pa.lo Alto duly pa.seed Qrdi:nanoe No.
295 of said cit,y, providing for the issuance of
said bonds to which Ordinance .No. 295 re:f'erenoe
1e. hereby made for further particulars.
And WHEREAS by said OrdiLance .No.
295 ·the Council determined that Eighty (80) bonds
of th.e denomination of One Thousand l>ollare· f tlOOO)
each to be:, known as the "Power and Wat·er Bonds of · ,
1924" should be issued and executed as provided ·
by said Ordinance, said bonds to be da:ted the fi.ret
day of September, 1924~ and to be of ~1e denomination
of One Thousand Dollars each, bear 1D.g :lnterest e.t
the rate of five per cent {~) per annum.
And ·WHEREAS thereafterwarcis bonds
numbered one (1) 'to thirty two (32) inolusive were
duly executed and sold ae provided by aaid ordina.nce.
And WHEREAS there remains in the
possession of. said city forty eight ( 40) bonds
of said authorized issue unsold and wn~lch said
bonds have not been executed b1 the ofj~icel"JI of
said cit;y as p'rovided by eaid ordinancEt No. 296.
• And WHEREAS subsequent to thP. passage
of said Ordinance No. 295 the City Cl~n~k of the
City of .Palo Al to in office at said tin1e who was
authorized by said ordinance to oounte1•sign said
bonds has died.
And WHEBEAS a Mayor has DE:en duJ.y
elected and qualified in place of the ~~or in
office at the time of the passage of 01•dinance No.
295.
And WHEREAS the Charter o:f' the City of
Palo Al to provides that in case of the ab·sence or
disability of the Mayor, a Mayor iro Tem shall be
appointed •1th the full powers of the ll:ayor.
And. WHEREAS at.the time of the passage
of this·· ordinance a M.a.yo.r Pro Tem has been duly
appointed and qualified and is acti:cg ~as .iriayor of
the City of .Palo Alto owing to the absence from
the.state of the Mqor of se.id Cit7.
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ORD 320
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NOW, THERE.FORE, IT IS HEREBY ORDEHED
that the .Mayor 1ro Tem of the City of Palo lll to
b:e a.nd he is hereby authorized to' sign bondn
numbered thirty th:ree ( 33) to f'ift;; { 50) inc:lusi ve,
being eighteen (18) bondt; of the denominati<>n of
One Thouaand Dollars ( tiooo} each o'! said "J?ower
and Water Bonds of Nineteen TWerit;y Four (19~~4};
and the Treasurer is hereby authorized to sjLgn
ea~h and every one of said bonds, and the C£ty
Clerk of a.aid City be and he is hereby authc~rized
to count·ereign each and every o:rle of said bc'n4B
numbered thirty three ( 33) to fifty ( 50) inc~luaive,
and he shall affix the corporat~ seal of aaid ·
city to each and every one of said bonds, and
said signing and sealing shall cone ti tute e.Itd be
a sufficient and binding execution of each e~d
every one of said bonds by and in behalf of said
oi t7; the present 11 thographed signature o.f t.b.e
Treasurer on the interest ooupoJJ.s of said ·bonds
i& herebJ ratified and confirmed.
IT IS FURTm:a ORDEP.ED, that the z·emain
iDg number of bonds in said iasue, to-wit: :E~onds
numbered fifty one ( 51) to eighty (SO) be e:z:ecuted
by the .Mayor '.or Mayor .Pro Tem as the case m!>Y be,
the Treasurer-, and the Ci t7 Clerk then in office
at the City of .Balo Alto at .. the time of saidl
execution, to be in the manne1" and form as i;:1ro
vide·d b7 Ordinance l»o. 295, 1 t being the int:ent
of this provision to et..lpower, ratify and co:r:1firm
th.e proper execution of the remaining nu.mbe:r·· of
bo,nde not hereto:fore executed in the above .issue
~d t?lat the officers then in office shall have
the power, without :further ordi1lance or reso;:;,;:ution
of this Council. to so execute e~id bonds.
IT IS FURTHER OBDEEED, that when the
bonds _above named are executed b1 th~ present,
or ruture officers of the City of P31.o Alto
designated to execute said bonds in the name of
the city, that said execution of said bondo sub
stantially and in the manner a.Dd form as provided
b7 Ordinance Ne-. 295 of said city shall constitute
a binding obligation upon said city. ,..
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The City Clerk is directed to poet thi ~
ordinance on the bulletin board at the City Hall
and it shall go into effect at once.
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The above and foregoing ordinance was
duly passed by the Ccuncil of the City of Palo Alto
at the adjourned meeting held on the 29t.n day of
June, 1925, by the following vote:
AYES:
NOES:
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Bertscbe,Blair,Duveneck,Easterday,Jords.n.
Laueten,Mendenhall,Thoits,Williams,Wing.
I~one
.A:BSENT: .. c·athoart, Cooley, Cottrell, Hobart, Bonn •
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.. ::. Approved by me this 29th ~·1925.
~ ///J /1-''iE:sror •i o Tem . ·
Attest:. ··~e cl
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