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:. ll4·;~'CtDilillCE,. iimlraiBG SECT'IOll· 3 or;.'..~DINANCE . . e;: :345~::o:r. :THE< C'.!:1'¥ OP:'· .:PALO. ALTO' : . ElfTITL.Elf ."'Ali .
.'O}lDIJAllCE PRoVIDiNG:· !OR . 'm.E'• mcUR'.R:tNG 01' A'
:'.BOBI.>E.D:·:,~INDE'.B~DIE!sS: · ·01(·TBEt· .CitY;;o:F'· :P~(}:· . .&$!() · IB
'THE eottn.Y O:P . S'S.TA· CURA · .. ·•· ·:su'.re, OF . c:ALtJ'OElliA .
·IN .. ~.~ SR OF !rwo· Bmm~.E~;·Tli-Oq'S'!.ND DOLURs~ '··11'
~D·'CO'lli OF· THE UBI-TED· S'?!TES ·O.f. AJE'l?iCA; ~O.
PAY, THE;' COST 07' CERT:illFWNil'.l?ll/ lll?ROVEKE!iTS
· 0:r''. ~lMD:1 CiI~T1 dD PRO'v:?l>lNG: .rci.:R .THE I$SU!BCB· OF
.. <· BO.NDS. EV-ll>EliC IIG· SUCH INDDTEDlt'"E..~ ;·" . .. .. · .. ·
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'. ... ,. : . , WUB~, the Co~.noil ot the c·1t7 of blo
.. il to ~a.1~ :.n,ere't.O~o.re, to· n t ~ on the 3:td dq · ot
KaJ', 1926., b7 Ordinance Bo. 345 dU11 passed: and ·
approved.~ order the iamance of ~ltooo principal
amollll;t of' "\later BGnd.a of 192&• o1'''tlle Cit7 of· .
P'&l:o ·nto and provi4'9 for the levy .of .. a: tax to
Pai the princi'.pall• amount of said bonds and acciuing
1nt.erest th&reon; ·· · . ' .
ill> WEE.REAS it itt desirable and. for the ·
::beet. interests of said Cit,-of Palo Al to that . .
S~otion 3 of said .ordinam e be &n-ended as hereina'!ter
set forth,
N~7 'MERE.PORE, THE CQ.'JNCIL OF THE CITY OF
PALO ALTO D'.O O~DAIN AS Jt>LLOWS: ·
· . Section J. Sect'1on 3 of Orditl.mce lfo. 345
of the Cit'i o'f Palo llto, entitled, "J.n •rd:inance
. providing for> the incurring of a bonded" indebtedness
of ~he Cit;y of ialo Alto, in the County of' .Santa
Cla~. State. of O:al i.fornia, in tile awn of .Tllo
· Run~#:ed :eb.o~ssnd Dollars, iii. gold coin ,of· tlie
U?J.i'ted s·ts.t~s of America, to pq the o:oat cf certain
· munio1pal.improv&U4t~ of said cit7,· a.na·pr0v1.d1ng
'fo.r. th:e fesumice of cbonds evidencing ·such 1Ddebted
nese." shall~ oe,. and th'e same is. hereby sme·nd.ed
to reaa as follows:
•' ' ' ¥ .
.. . . •sec ... 3 •. The Council o'! the C1t7 of .Palo
llt:o shall at ,'the. tim~ ·er f~~ng the:; gen~ra"i. tu
le"7, an·d in t:he manner "for tmeh genttr~. tax leT)',
·pro-vided, lev;y ~nd:'oollect'annuall.1; each' 7e::ar UD.til ,•
said bonds ·a.re pai.d, ,o:r until the·re 8'.ball b·e s:·
s.um in th·e treatf11rr of said CitT of Palo .tlto set
apart for that pttrpose to meet all ems corning due
tor prin~.ipal and interest ori such bonds, a .tax
suff'ic:len.t to pq the ·annual interest on au.ch bonds.
!.Dd al.SO SU Cb. part Of. tbe pri DC1 pal thereof SS Sh all
become, due. be:f:o:re the. t:fme ~or ~ixing the• :c:e%t
ge.neral. tax l~vye . The t:a.:xes· heret!l re~1red to
be levied and collected stall be iil addition to
· sll. Other. ta.Y.·es::levf~d ... :t'or municipal puipoa:1ea •. ·
an:d:ahall be.collected :&t·the time anG: in the·
SS!?le .mann~r ae Ot~her muni:ei,.pal taxe-s are e;e(l.)..e&'ted, •.
, and .be .. :~'ed !or. no :,other pu:rpose tban the pa;rm.ent
ot said borids .and aGora.fng 1n terest. ·
. . And :the sa.i.d Council , or' the Git7 of
Falo Alto,. :fur,.tbe·r ord·ai:trs that there s'hall be
and is_ he:i:~.~prov:Lded a s inkillg tum to be.·
kep·t by tlie:~':~easurer of said City .. to be
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ORD 349
11111*? .... • .. --•.441!11, llalllll4-'lllZ,_l 11'9114.l!ll!* .. ZllllU --·----1!11'1.LZ-A --IA!::(.--A.•4 ----ICl:::.--Cllll!l.t?•SJUlaWJl!llll1 lllll!JUlll.Jlil'llS"'l:::XZllll'IJll'll#lllllll ••lll!llll!llllllli~_RIZ!l!ll.?4111' ...... ..,.. liflll#J-llill'llll!_£ ,G•. llllA!l'llMlm.?£!1!11$ l!llll'A.£1!11112-¥•2 -a:-•t•. •t•:.,·-----·) .... ! _ _....
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designated_ as the "Sinking .i'UDI fo.r the
Pqment ot Water Bonde of 1926",. and that th.e
proceeds Of the lev;y above mentioned shall .. be
pa.id into said sinking·· fund as aoon ae the sane
shall be collec't.edt and shall remain in sai.4
sinking :fund urit:tlt re~uir&d for the· re$pect1 v,
p~;yments of_ pr1nc1p1a1. &nd interest to:. be· made
upon said bonds~· and then when the respective·
payments of the ~inoipal and intereet of e&id
bonds shall fall duer, ·the. .. Trea.Surer of ·sa14
c,it7 be, 8Ild he /is hereby authorized an.a
commanded to. pay oiJ:t of .the money of eai4, ainl~i:ng
._tu.nd, the a.aid reepect·ive· amcunte tnereot·-; wnen
demand shall be. made therefor as b1 law reqa.ired,
and upon the< surrender of t.he corresponding
·'bond a and coupons to eai d Treasurer, the dut7
of said Treasurer shall be to cancel said. 'boruJ.e
.and eoupons ae psi d, immediately after their:
payment . .,·
And it is further ordained, contracted,
represented. promised slid: agreed .t.ha t non, of
th'e moneys paid int.o sai.d sinki:og'·tttr,d. shall
'be us~d for any other purpose than tlie :ps.Jment
of the princ1 pal of said .indebtedness and the
inte:rest thereof, until ~e whole s1nount of
said ::lrJdebtedness eh.all .h.ave been ta.lly P?-id,
enCE that each and every o-ne of th& co:oditioas
and. pr:ov101one ate..ted and provtded in re-ls..tion
to th.e said boms by said ordinance calling sa].d
election shall be. complied. with." · . '
Section 2. In all other respects
except as herein!tbov·a provided, ea.id Ordinance
No. 345 is hereby rstifi ed, con:fi.rmed and
approved. ·
Section 3. This ordinance shall be
-posted by the City Clerk on t.b.e :Dulletin Board
in the CitJ Rall snd shall take effect ancl bo
in force f~m and ·a:tter 1 ta paesage and
approval ••
'.rhie ordinance was dilly passed and
adopted as an ordinance of the City of Palo
· Alto, at a regular ~~ting of the Council of
the ,Ci,ty of .isl o .!l to held on the 14th day of
June, 1926,. by the followmg vote:
AYES:
NOES:
. J~ertecn.e~ Bonn, Cathcart, Coole7,Duveneck,
Robe.rt, .Jordan, Kelly, :Lsnsten, Thoits,
Thomae, Wood.
None.."
• ABSENT': Cottrell, Easterday. Wing.
Attest:
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