HomeMy WebLinkAboutORD 345.,. ...... a•a•J•IP~J ..... •1•• .. •••a .... a•:a11a ......... ,.: .. •.•za•ft•;sal!IJlll•&•t ........ l& .............. a~1•n1 .. 11111 ...... a•1•:11112•2 ........ tli ....... a111 .. 111111:w•1
.... •
'~.-.... , .', / • ·.,····r·\'.,,"«~":·,:'..":.' ,~>·I.,.' :f , ,'. ' • ' ,·~~.:· ~' ""i't. •'-. ,•, I'~
...
'
· __ .. •, .
..
;
', c .
·-~·f"'!WWlll"l.,..~---.....,---·~~~.,._._-___ ";ot-:i'"--'. --··,...-~---------. -.-.,-, I ·~"""."'-----.ti.i_llll!I ___ ,-··~ ,---------i~~'. .· . .. '. . ~: .. t
"·
,,.
• . ! •,
. )
!
i . '
'
.;.
'~
' f ;
' i
i .
' (
r
' !
6
j .,
" (
,
)
;
A
!,
l
\
'
'-·~
:
i
!
!
. ~. '
.. ..
•
'
,.
"
AN. •Q!tDINANCE PR-OVlDnrn FOR mE mc:URP.ING O.ti'· A .
BOllD'ED. INDEBTEDNESS OF THE CITY OF ?ALO A'Ll'O ............................... ..__._~----------........ --~----------~"""""--*'·=...:.;..L
.!!_~E: COUN'.l'Y 10F SLWA. CLARA, STA'.EE.,OF CA1IFO?.lHA,
IN '.i'iE: SUM OF· "i:VlO HUl~DRED THOwS.AND DOLLARS, :W
GOl1D COIN OF ME '!JNij;ED ST~TES OF AMERICA, ~
·· PAl: THE COS:T OF ·CERTAil~ MIDUCI.?AL lli?ROV~NTS
OF SilD CITY AND i:ROVIDIJG 10R J:S:.E IS&TANCA
' 1
01 BONDS EVIriEBC'ING suca INDEBTEDNESS.
l'EEREAS, at the special bond ele~~tion
held. in the City of Palo Alto on A.:pl"il 29tht
l92o, UDder vrdinan6:;) No. Ml. of ea1d City,
authori tj" was g1 ven to isoo.e bonds of said c1 ty
in the sum of two hundred thousand dollars :i'.or
the acqi.iisition, co?ist!'Uct-io:n and extension of
add:1 ti ons to the water system of ea.id city:
NOW, TE'E?.ElK>RE~ l'EE COUNCIL ·Of the
City o'f Palo Alt:o DO ORDAIN as follows•
Sectio:o 1. That bonds of the City
o'f .:ea10. Alto do fo:-thWi th iss.ue in the
principal mm of two hu.ni T'ed .thousand doll'lrs
for t.he SC()U iSi ti Or., COD8t!Uctfon '3.DQ ez.,.
t:em:iion of the water sys tern .of ·said city.
Sei~i oonds sh~ll be known se .. "Wate:r Bonds of
192~5", and shell consist of t~o hundred ·rxfnds
·of 1;he denomination of one thoo.send dollars each.
. .It is hereby determiaed tnat five
of ~1.aid ·oonds shall b.e payable each and every
year at the cit7 t.reasury of said City, in
Unit.ed States Gold Coin, on the lat day of.
tTantt in each and every yes.r from 1927 to 1966
inclusive, together with int.'3%'e.et at five per
cent; Or;i all sums U:Dpaid at Said date: ;Jrovided,
that: the interest on said bonds scal.l. ·oe :paid
aemi~wually, ·so tnat there sllall be a
p~~feji:t of interest '.on all ~:ns unpaid in
each and every half year:; one of· said semi-ax:inual.
pqm:ents in each; 7es.r being on the :first d~ of·
June, and the ot.aer of s·uch pqments being o:n
the first dS,7 o'f; December, and ea.1~ interest
shall· be evid,enced ·by proper coupons attached
to each b on~, a s e~ra-ee coupon ·oe1·ng attached
to e:ach bond .for each eemi-.e.nnual payment of
t:he interest to be(~oir.e du.e thereon.-
Said 'bo.ucs shall be dated tne let
day t>f June, 1926, and sha1 l be su bstan ti ally
in tl1e following form,. to-wit:
•
'1 ·
: ~-
'' . ~-
•
~ "I
I 'I '· . ·i '" . ~.
!· i ~ ~
i . '
' ;
)
'l
'~
' ! .:
" i
.f'
l
' :1
It
!:
I'
I.
" " I•
1 i
1
•
•
ORD 345
-----.... --·--····••••mlllll!Zl!'IO •u--•="': :-•--JAl!ll!!!L-•Zf;ll;J ·--....... Jlllll--......... -111!111. ---· ••111i11Rik&a!Lllltt•2:112111:a•s--t•&•tt •2-0111; •. ------·-·-------
111•:·-· '.· . " . . . ' ••• - : ~ . . ,. . ·.· .w . ,,. ' \ : '\. ' \, .•
•:. :· ...
' ,·. · .. ·::·-.;:.. .,;;,,.,,.. · ... ~--.:c '-:_ ·:_· ..... ____ _
.-----~ -~ .. ~~1.~-~-,.. .... -..,_.,_
. []"
,.,
... •-; ,.
~ I
.
I
-
UNITED STATES OF ADP.IC A
STATE ·~ CAlIFOP.NI.l
0
County of Santa Clara; ·C1ty of Pelo Al to
WATER '.BOiwS OF 1926
·No. ---$1000.00
0n· the· lst de:; o'f' Ju:c:e, 19.27, the
City ot P&o Al to.,· a muriicippl corporation
inocirpor.ated .under the laws o"f.' the State of
Cs:lif'ornia, for value· received., hs-eby promi'ses
· to pay the 'bearer at the c 1 ty treaeury of said_
cit;y in the City o:f Pai·o Al.to, .County of Sant&
· Clara, St.ate or Cali:f'om.18 11 tbe sum of one
:thOU~&nd. (fl.000.00} dollars, iD gold COiD of
the iJnited States of America., wJtti illteres~
thereo,n in like gold coin, from the date hereof
at .the rate of five per centum per annum,
paya:ble semi-8Illlu.e.l. ly, at t.b.e c 1 ty treasur7, on
the lB:t day· o.f June and December of .ea.oh year,
upon th.~ presentati·on and surrender of the proper
interest ccupons :nereto attac:C.ed.
, Tb.is bond is one of a. series of 'bonds
of .like date, tenor and ef':fect 9 but. matu.r:i.Dg.
ec~,rially, ieeued by-tbe Ci~ of Palo .U to for
t}fe,. purpc;>s e of a.cquiri:r:ig certain public
municfpal improvements in and"·:for said c1t;y 9 and
is iEhm.ed under ~d in pu:rSlle~ce. o'f an d in
conform itf ·.~1 tb. i.lrdinance-No .:;· 341 of s-8.id. ei ty
and the laws of the State of,: Cali :fo rnia.
And it is hei'eby cer.tif1ed, asserted
and declaredv~hat thie bond is. :1SSl.led in pur
suance of and!.Ln co.nf~rmity with the constitution
and laws·of the State of CaJ.iforn.is and the
ordinsn.ces o't 'the Said City ot· ?alo Alto' and
in pursua.nH~ of and i:n conformity-With a vote
of more than ·two-thirds of all the ous.l j:fi ed
electo;l:~s voting at s sp'.ecial election duly and
regularl,y call.ed and held in said ci-cy, on t.b.e
29th day of April., 1926, notice thereof having
been &lly and regularly _given and pt:Loliaaed 111
th~ ma.nner and for the period required b,y law. an.a.:;. th at tne remilt o·f ea.id elect1 on .b.as been
c;a~vs.ssed sn,d declared and.entered in the
manner as required by law.
It is further certified and declared
th:at all of: the prov1s1 ons and requirements of
the com titu.t.ion and le.we of the State ot
Cali.fvrrd.a m«i .. of til.e ordinances of Said· Cit7
of: ~a.lo. :Alt.o ,have been. duly, regularly s.ud fully
compl1•4 witil by> the proper officers of said city.
and i:a. th~• 18~silce of. thie: borid.., end th.at all
acts, condit.io.ns an:d things re(!uired .. by la..w to
·oe Q.one pr:ec:~~ent t.e; and in th.t! issuance of
~aid "c!)m s. mve . been done ~d have been p:er:formed
:!;n regu.lar .and due· form and in strict accordSlc e
With .the P:Po:Visions of tlle law authori·ziDg said
bo:oda;.-and that the total indebtedness o;f. said
City of J:>sJ.6· Alt.o. i.mluding the ind:ebtedness.d'
~ldenced. ~:r. t.n.1s is-eue of bonds, do&s not exceed
. the: litti.t prncri bed :by the c OI:1eti tttion and laws
;of the State o:.r California.
:~.:'.:•, ,,
'·
..
-·
. :~;.
;';
)
.I
''
-'
1·
•a: ............... •z•a=-m•sz.-ua•a ......... _.~!Al•1,.. ............ a•z•t•w•aaa .. ~· ••• .. 1111•:•z.-•.saB1n .. 21111:•n~••22•2 .... 1111 .. 111 .. 111 ..................... 1 .. m1~ .,,· . '.,.. .
:
'. '
-'----·--.._:.....,. __ ~ -·
~· ; . '',
f·118 . '. t .
I
I
:i'
!
1 li '
" .. : '
,,
i,
! ;.
I'
i
i
~
' •' < I
'I ..
~
r ; ,, • /,
l
'I
~
~
l
j
.·1
I
, .This ·oond. eeSS$S to bear interest unless
pr 1esented at mturi'tJ' ..
IN WITNESS "h'HEREOF' the seid City Of
Palo .Alto has, cans.ed thie bond to b·e. signed
·•. by the Mayor Slld ~res.surer of said city, s.nd to be: eountersigne d by its <.;it.y Clerk t to affix
th•ereto the corporate seal of said Cit;r of Palo
Al to,_ this 1st day ·of June_..._ ...... ..,
•
The interest co".lpons attached to said
bonds and :evidencing the interest. to accrue
thereon eh&.11 ·oe numbered coneecutivel7 and
shall be in eubstan ti ally the :follow1Dg form,
to W1 t.:
COtlpOn No·---Bond No._
On the deJ' of A. D.
thE~ City of ?al o Alto wi 11 pe.y the bearer
hereof at the c1 ty treasury of said city in
said i;1ty of .Palo l.lto, County of Santa
Cls~ra, :State of. Dal if ornia, the sum of twent;y
fi'\l'e dollars, in go_ld coin of the "'nited
::$ta~tee of A.rnerics., "fo_r the eemi-annual in~·:erest
due! on tbet date upon' its above numbered ?slo
~l t:o Water Bonds C'f 1926.
--City Treas"J.rer.
And' it is further ordered that the
Mayor .o'f said c tty who is the execti.t i ve of"
seid 1 cfty>be, and. .he is he-eby authorized ·to
sign ~ac)1 and every one of said bonds a.e the
e:xe·eutiv~ ot said city e.s aforesaid, and that
the· TreS.suI'.er of said city be., and he is
hereby: S:u.thoriz ed to sign es.ch sod every one
Qf said. "oonds of said city, and that the !Jity
Cler'.&C of said city be, an.d ne is hereby
ail.thorlzed to countersign. eacn sn~ ev~y one
of' said bonds o-:(: s a!Q:· c:i:t;y, and he s.ca.11
af:fiX t;hereto the COrpo-rate Seal Of Said Ci 't7 •
arid -tha_t ·said signing and sealing shall
const·itnte and 'be a·s11:ffioi.ent and· bindirg
e:x:e1cut::1Q.1:i' of es.oh and every one of. said bonds.
by :and i:n be.aalf of sa1.d City, and tAat tne1•e
· shall b:e 11 thographed or printed upor~ each
a.no. every one of the coupons s.ttao.hed to eacll
. of :said o-opds, a lithogr~phed o;r :printed fac
sim:ile signature .. of said Treasarer qf said
Cit~;.:·.sna·sa.id f;ac simile litnogrsp1b.ed or
. pri1::iud: signature o!· said J;':reasnrer attached
;: to ~each of said coupons ahel r· constitute
and b·e a. sut'i'io-.i en t and bindiDg execution
o':! 4rn~cll .. snd ever7 one ar said coupons by
Sa1 ~i (.d t;y • .
•
...
., -'
"' "'", •• : . t
._ .. ,.. '"'"''
tl--
' '
~
.: .. j" ;~ '
--1· . '." ' ...
·:· .. -
:.1-•,J-N;.iV--
,, '"
\.
n .
' .
n: --
' .
.~",
I ...
. "·
. '
:.~ ·,
-.·
,·'
-l ' ' • ~ I ~ •) p • I '\ I~• r I • .•' "• ·.' ' .:~•I: r' '' • • p: "I !' < •. t t"' ~' l.j ' " '
. ', •• ,J .. ,.
·--.i·-· __ ....,_ _ _... _____ ·~--·-----·--·-'*-:l;zzl-~~: . ; ------·-~.:__~------....... , __ ll!ll.,....~,, ir;.· .,::·~
·,.r I
.-.
Se.o .... 2. Said bpnds ·Dl8Y' 'b
0
E!-$Old by s_e...id
·_Council. o:.f" -the City o-f .PS.lo Alto. st .no,t le-es
than their ::P.s.i value. at_ eit_her private or
'pu bl 1c. · ssl e , · .sn d wi t hon t _ ftlr th er not io-ea•·_
:The ~oeeeds .of .the_ s~al~ of said: bonds or: any
: of them sb.sl.l l)e placed :in the treas'.try of said· citi •t·o~ tne 'credlt O:'"f the :t'ttnd f'or which
they were author! zed. " ··-. ·-· · .. · ..
.. ·Sec~· 3~ .J.nd it .is further ordiained· and
e>rdered that there shal·l be levied and co_ll-eoted
each; a¥ every ye 4l,r upon: all pro.pe.rty subject
to taxatio~ j._n sai(i c1ty,; a tax su::fficie:ct· to
P-8'V:. a:ll ~o-;f t<h.e interest o-n Sll:Ch bo;nded in-de_bted
ne.ss aa ssi d :triter-est :falls dµ.e, and s,, sa:t'fici er.it
amount al.so . to· :PS"!/ :s& ,d_ pr iD..)ip~ matu:r ing each
and every year, en.d su.f:ficie:ot .to pa;r the Whol·~
of t:l:le principal ari.d interest of a.a.id indebted-
. ness '"°t the muturity t-hereof' and the ssi d
Council of ,·t.b.e City, of Palo Al tQ hereby n..akes
provision fo,.r 'tha levy and collection of said
taxes, and.for th.e levy and. co:tlection of all
. sums t_ha.t Shall "oe O?" m~ ·be netceeSarj' to pay
· in full ,all _the .. · iot_erest and principal of said
. bcncie.d_indebtednes~ a.a the same Sh.all fall due,
end herellpon• contrso:ts and agrees, represents
and promises t.he.t sucb_ levy shall be _mde as
af~reaaid, ·in c()e the said oonds shall be issued
ae aforesaid,. and so fa::-as this Council has tb.e
power now to malt:e' said levy, 1~ hereby mas:es the
same.
And the said Council of the City of Palo
··Alto t::irther oz:dains that there shall ·oe and is • ·
hereby· provided a si.nking fund t.o be kept by
. the Treae.urer of Said C-ity, to be_ designsted
as _the "Sj_nking Fund !or the P~ent-of Water
Bo'rl~e of 1926 "., sn d tr..a. t the proceeds of the
leV7 above ~ntioned ehs:ll be paid into S"ilid
si,nl:::i.ng fund as eoon as the S9l'lle _shall be'. coJ.l~cted,
aD.d shall rema1 n in said sinking fund uriitil
reau.i:red ·:ror the respective payments of :princi
pal and interest to be mde upon said bo:c:ds,
and th€n when the res.pective parments of the
:9rincipa1 and interest o-f ea.id-b~nd3 shall fall"
due, the T·l"easurer of said. c i.ty-be, and .hs_ is
hereby authorized and c omma:J;ded to pay ou:t of
the money· of ... said sink mg fund,· the ... said respec
tive amounts·_ th:fJreo·f, when dems:a.d s...-iall be ma.de
therefor as by la..w required. and __ upon the
, -surrender :of the corresponiing bonds s.nd coupons
·to e~id :rreesurer, tne d ut7 Of said Tres.s-cirer
shall be to· cm:1;cel said bonds and· coupons as
pa·id, immediately a:fter their payment.
_ _ . And i.t:~· is further orda.i~ed. oon tracted,
repre:a:~:ted,_ .pr.omieed and agreed tha.t_ none of
thti ·moneys paid .into .said s1.nking fu:.nd SJiaJ.l be->uaea __ for. .e.DY other purJ;tose tilan the payment
of'. the principal ·of said ,inde'b:tedness and tb.e
· :iJi.ter~at:<il1ereO!, until tho whole a.mount ot
sa:!:~ inde'bte-<mes.e sbnll nave been·. i'a.lly pa.id,
atid_.tM~--~ie!!iCh &n4_eve:r;r one: of the conditions
snd piovi~!on2 _s:tated· _end provided in relation
t_o_ the::,eald _ l:onde by sBid ·ordinance eel ling
·said elec·.tiO:i: shall .. be complied with.
. -:... '
1~9.
•
,
'"" -,
•
t:
'.:1§
~ •'
I ' :
i ~
~
i
~ ~-
i
-~
$ • ~
~
--~ ~ -~
~ ' ., ,, ,.
-1
:1
" " " :,
' i:
t
i
(
i
~· ~ I,
• " ·~ (
l ij
JI
•
...
t • • I 1 • ~ ".. V , '' ' : >-~·, '• r • ' • • ~: P • ~ , •r' •\ I • : • ':· ». •, ,_', • ' Ir '!> ' • , • ' • ,
' .,:,._. . .. . -·· '-'··
t :; . .. :.· .
. ·.~ ..... -. ...,-.. ------::----""'"'"".""""",.,""'":,•-.-~-·~-----·-------·--.,...
-l'i2{f '.i
. ·1' . ' . ,' t
1'
;,·'
I';
' ' '
f· ~ r·I ~
1~
in ; :
f .. " ' .,
' .,
""
;<
.·· ~_eo. 4 •... !:i.1 boms of ss.id city herein
prov1d ed. ':to ''b~ :1s1etied whall bear ·~he de.t.e he,r·:e
inbe:fo re .. provided, end. shall be. executed and· ~e
.ready •or d.el 1ver7 'tQ .•. the. J>tll"<?hsser on p~e!rt
cit p:archsse: .. price, tmd.shall be lithographe'd
o.;~ pirinted on bond pap-er,. so o:~lle·d, and When·
prop9rly· execitt·ed, sign~ed end sesl e(i,. sha.11·
be deliv.ered to the Cit7 ·Tressurer~ and a reci•i pt
therefO?"': executed by him tc> the llayor Of the
C:.ity .o-f.. ?S:Po Altd, Snd the c1t1 C-lerk. rec1 ting
:the l!lumber of e~oh' bbm, and tnat the same 1s
to be~ :deliver:ed to" the order of the Council
o'f ~h;e (P·ity of Palo· Al to, a pprove.d 'by the Mayor~
snd =said: City Tree.surer ab.all be ·held .responsible
/ on· b.Js: qf::rici al b,ond fo.r the a s.fe custody snd
, del i'.1rel"y thereof~ '-s aforesaid.. · ·
• • I..; •
~ ~
. Stoc. 6,, . Thie ·ordinance sha,11 be posted
, by the City Clerk on the bulletin board in the
City Hall, and shall take effect and be in.force,
from ·an'J. aft~r 1 ts }ltssage.
\.:~
Tnia ordinance was &.:i.ly passed and.
·adopt,ed as an ordinsnce of tne City of .Palo
Alto,. &t en adjourne:d regular meetzng of the
C:Quncil of the ·City of PB.lo Alto held on the
Zrd d:SJ" of .May, 1925·, by th:s folloWing vote:
AYES;
NOES:
Bertsche I· Borin, 9.athce.r~..!. Duven.eckt. Jo:rdan,. ~elly, Tnoits, ~nom!l.s, w1n15 •
lione.
ABSENT: Coole:r, · Cottrell, Z?.sterdey, rio·bart,
Lao:s ten, ·Wood.~
Attes:t:
..
..
.~.
U
: j
.
'Bl ...
•
•