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HomeMy WebLinkAboutORD 374••, .. ·:t•t"P•t•e• ... ·~·r·:c:"·-.·.·.·._•c•+•t•. }!•.t•t•c •. 11119111!1;•. •2 .• ... • ... •1t• .... •.•."':•/•/•••:···· .. • .. • .. •}•~;·.p1111., .. •~111. •• ....... •.111J•t•~x.-:?•::•f•.: •xs•1111. :••• .... •wa.4:111+•s111+l!lw1112s!lllJI .. •a•>•, '•+Ill. =~>•2•11!11111: .,4,.;11.a•1 •11J~1•.?""; . ••a••-••••••1•1••• ·' "! .• ,-,. •• 1, •• .... ~. ·': . • •·• i ' ,.. ' :.:. ·.<,· ,1 ~ -~ . .. . . ' . ~ ' ~~~77.~~~·~~.' .... :t:1~r~;_,,r ;!'1;····· ·' .. -~••• ~---"""~,_..,.,_ i&I •1.,;;V·'.' Si~i ' ~ .: . ·. ;' n . ' . . . ·: ,:,.:" :··, ·; .· .. '. ' . •· ..,. ', .• . . · ,·, :·1. '. \,' "' ~, ... '. ,., .,·· ' . . ', , .. ~ ' ·"·• ...... : . ~i!'~;~~~~)1:~·i ~g~ ~· .. ' ''::: ' :1 I • ~·.-I ''. ' '' •, •, '• ' · · ··PrioYri>x~G· ~~;i·m~ :rN~itariG' ·op' •·A ·BoNDE» · rNrimm>MESS : .. o~· ~ :;c .. rii;::.oF:sPitrr! ... iLTO.'t}0?1J~:. qF::~A ClimA, '.. . : ·· •. S;1;a.te< .. ·OR: •GA.$I'~li'if.!A. . :tN. ·::THE.;~SUM OP-: $EVENTY-l10mt TlIOUSAND DOL?.iAB.S ·D'f':~oom:. JD ll ; OF THE .. Ulll:CEif :STJl.l!ES OF . .A:MERI;Q;I;: TO:>PAY. FG!t:;TB:E'.•'J.a~lSITIQij.}00-NS~CTIOJ'. AID .C..OPLE'l'IOJ'.i::o~F··A H!'BLIC BUIIJ)IN{l:FOR T.BE"·:'Q:J!'Y OF ?ALo'. ALT;O,. :FO'l:fTHE :USE':·OF THE:.PO!rJ:CE·~· . .Alm E::t:BE · D'.EP~;:-::AN:D.·::pmVT...l>mG :PO:a TEE ISSUANc~: OF. 'BONDS EVI:DENCI.NG SUC.l! Ift"DEBTEDNESS~ . .. · :_;; ;, .. · . · · ,. . ',,,.', ' ' ,... : · . -:. : WBEEEA.s, a~::itJt.e a~:tat ·election held: 1~ the . Ci.ty of. :Palo.: r':tto': ()n . Ja.DUary .:27, •. :1927;, under Or4:btance .N'CP · 369-: o~' >s·aia e1ty,, aut~rit:r ·was~, g.tven .· t0.1.ssue· bonda·of"'S"aid: a:i;t.y in· t:l1e St1m. of' seven.ty- ~our thou5and Jt'l:4;.()00~9<)) dollars~ for' :tn&" ao!qu'.:tsition,. eonsi;ru.c:tion" and comp1eti.on :o-:r ·a: ·public btdldllls· ror ... the u.se o'f the Po1lce· ·and. Fire · Departments of s~d City: . ·,~ ~:,, ·· · :. · . ]t_OW,0 ·: THEim--ioBE,· t;n.e Council or the city ot Palo il~O/ W O:RDiAIN as follows: · Seet,ioD. 1.. That bo:nd:s ot the, •City o:r Pa.lo .Uto do :forthwith 1asue · fo.r. th~: principal 312?!1. of : s&,venty~f'our:-::~h.OlJ;8cand ~ollers for :the·· aequia:tt.1on, c~nstrue:t1on.~and: complie,tion of a public bri:lldi:ng :t~r :;fHrl:.13;:~ ci:tyr '· .'£07:· the •use O·f the Poliee and Fire· D~p:artments· ,4 :said 'City• Said· bonds . shall be · knomi a3 . tt:rmpro.vf)Dient''Bonda o:f l927tt, and sh-al:l <10iB1stof:~eventy-:tour{74l bOrids'in thedenom:tna­ t!on c:.rf:: .. (>ne' thouaandt$1,,ooo~~oo) q.o11a.rs·· each • .,: '. •,',• ,•' "<. :-'.".cl< '\''' ' ' ' ,•'. .-~'.; :::: . · .. :r't; is' hereby :o.,etermined that ~() or said bo~s:, "Shiill· be··p~yable ·e:a~ and eveey-.year .at· the <cit;y tre·asu.ry o:f sai.d City, in gold. col.ll o:r tb;~>Uni;ted· states~ on t.he ~ :f;1I'is t day of: Jttc.e. .. in · . eia-ch ·mil every·· year .from .1928.· to -l.964 ·inclusive~ ' to~1;~er w1 th hterest &t f'ive. (5%} '.p~r cent: on ' · al:f· .::a~; ·anP84-d:Lat. :a.aid da.te~ ·. Pro~~ded, ·that. the il:tt;&resit: on· Said, .b6ndS ·shal:X 'be ptid~ semi~mmu.~ly $. $0:· t~t.: there . shall be a payment or· ·inte:re·st· on all.i·aUmS.. unpaid"lii each. and every hal.:f'·.year; one of 'sdd; sem1~81mu;aJ;. paJ')ne:c;ts in~ e·ach ~ear being on t,he :~t. :day:. or: June.~ and the. othe:z-: o:r: sud . pB.'yments ~ins. -·on' the, fir.st.:· &y o:r: ~cember:;; and sud. ~terea;t· sha11:· b~f evidenced: by: prop,exo: Coupons · at:t'acmed. to> eaeh>oorid,, a-. s~~t:e eoupon:-. be-µ;g · at'tached · :to:i each bond f0::r/ e.aell:~:Z,,~.;...anrirtal: pay-· : ment of:5•·the :1.n:terest:: to become au.&:, thereon• . Said . 1*>n(l:s s}litl:~:J~ dated. t:c..e: t:frst da:r o::t J'i:me:, 192:7, ·· .. and' Shalli/,1)8 ,$u,bstan't:tsll:y iii the f'orm following, .. ·to.~wit:f ,. ·'.: ... ··•··· ... ·· ·::: ··. ·· ·. ·· ·. . · ·. -· · UNITED. Si?ATES OF AMERICA: . . ~ -. ' . ·, '~ :r~. ," . ' ' ' ~· . '.J . ,-·' ·. , ,· . . . ...... , . "' . No .• : __ ..__ $1000.00 On. t?1~· firid;/ d:ay ot June, :l92a ;t the City: . ' ' . ;, ' ::,' ,i~ ·~ ... -'• . . . . . ,• ' ~ -; ........ "''• '·.' ,',-"' ·. •··. -. ' i ! ! ''i . l >l ' • ORD 374 . , ,, ' ... • 0 ' . ~ .. ·. ' ' . "'' .,,_ o>J. ':·; • .' \• ',\' .,,, ,"' ! /: • I',,, ' .. . : ·,·,, ·;·: ... . ·~·· . ' I_ ,!/. - ' . <~ ·. ~ . ,·. '·l·" . t·. ·.r-·- ~; · .. --~ 1 J ~-,, } t .!, t ' ... ~ . . . . . t'· . . • . . <~ ,_· \ . : F. . . . \ . ·. • . :•O:f Pal,6;:;4~~:~·:··a: mirili.c1p!4: (:-o:r-pOration incorporated .---under the-:::.l:~a.::o:f'._:th~·.:st,a:t-ie _.o~-.. CaJ.i:fornia.,,. for ·value .~e·ived;· liereby-.prom.tses' t,o pa'j .. the bearer · at ¢~ -~i~ treasury''..o? S.td~ C~t:Y o:r ~aio Alto.· . >C~t:Y::':'?:"£:·-&mtu-~ Cla;8J.·:~_ate_•·pt. Cal.Uo~~ .. the_: .. ::.:au,m,:~of:::::()ne::.;.thoo.&lld'.{iPl#<:fQ,tJ.oo);q.oll~31 .. in gold . : ; .• ·_c;9!n .. -q'.:f ·:~he. U%.l.i"f;&d,;, S:t·ates ; .. o:f::,1-.:n.eriea~ : with inte.rest )::_./;the~p.: ~-:·11ke•: g~ld: cd!:n,;·i'.rom_ the"(1ate. he~of, . ·• '. .:a.:t:'':tll~'.~.~.8:~!8,'.·.p:f .. f':tve•:p_er. <;~1lt:um pe:t". 8lll1Um, .payable. ·· · . ::s:tmJ.i~~l).~:;· · (i~t-·/t;.}l,e', :-e-1t:y.:·t:reasury, ·on the J..st ·. ~a7:·o~<Jml.e:;_ :~9-i'.-D~eml:)e;r>.?1\ e.ach year•,: .. up0n .the -:pr:es~ta:f:j;.9n-~'and s~der or t-he proper interest eo:a.,pOns~·:ner~tct· attaeh$d. . :,:'' .·.·,_..' .• . :::ru$•·:·b;;n'd is one of\ ;a series~.;.o:f bonds of lik~· t:&AA~:: and ef'fee.;t.,: :. but maturing sEtrially ~ .!;s=eA,· b:Yi tlle City. ,ot· Pe.lo~ .. ilto .. for t'Jle·-· PttrPose i. .. -o:e· .acqtiiring, :eonst~c.ting· .and. eom.plet:tng _a·-· .. ee::M;-a:tn-,:pµblie miild:ing:' 1:c.' _and fo:!-a.aid· d.t:-y, and is 1~tlUed·un9;er. a:nd. ill::.p~c~: o~: and ·.in eon- •· ·f~j;:y.with Ordin~e&:<No~:~i.S'~ 0£: s,aid City and · <the-.':J.awso:'o:f the St•ate-of ca11.torrii.a~· ····, .. ,.. .. . . ' . ·: .' " "' . . ; . ' ,· . !lid. . ft is b.ere~:v . cert:t:ri~ci,; asserted and .. ' -~"Cl:~~.ti· that :'tb:i.a 'bOnd" 1,sv.issued: ~1~ pursua.uce -· . of:~> ari:l;in conformj;;;ty::Jlith -the· con$t1~t;1'0n md laws of'-the :Sta.:te, of C~if o:i-n1a and' the ordinances of the':: :Said· City. Oi:f . :e_aao Al:t·o, and 1n pursuance of ·:. end. __ i:J.i'<:~~ri:to:rmii't.J' 11lf:th· a. V:o::t.e of·_Jno.re• tl::ian -two­ >t'hir4~: .:~o:t -·all'. the· ~t.1.J..i.fie4' electors vo.t:tng at a .~peei.al. e:J;e,ction d'tLl.y.Jmti, .. regular.ly. called and hel:d. _:in said Ci'.tY .. on ··t;he .-27th day, ,of January#· .. _ .1921,: ne)tice th~o.f lia:V~ng_ :"been d.UJ.y and regularly g$ven :~-d,pub:;l13hed-m: the, r@nner. and: for the. .pe~i:od,.~qui:red-by l:aw~ -an~:that the:result_ o:r a·e$d-) ~leet:Lon has ·~en ~vasse,d and dee.la.red and entered in the manneP as required.by law. ; rt-· 1s turther ~ert1£1sd an¢ec1ared . that all. of' the· prorvisi.ona. :and requ~ments or the con$t.1.:t;u.t1on .. and •--~&.l1f3-of: the: St-at~· ot Cali:f'ornia · ,;,,ana o:f\the:. ordinanees o.f s·a1d City or Palo A!to ';:have:·-~:an ::;¢uly~, regra.arl:v and .fully complied with .. . ~-·; .. th&.·; proper. o.fti,cer~.· o~ s_ aid Cit7.z and _1n __ t_ he , .. J.•~:?!p:f this. bond,,,, and th.at al1faets-,:_ oond1""'. t:t()na_ ·. :an<f things reqc.ti:red by l~w _ to be ' done . · pre,c,i&Qe;nt t,C> ... and in .. the -ii5~finee,: e>_f ;said ·'bondS have,,:· ¥AA. done .and b'.fl.V:~ . be.e~er:f):;.rm.e<;i, in r.e·gular Slld:· '.dUtl;' .torm arid.· in ~t?t:tet ... s.ccoroanc,e: w1 th _the -P-~:v~~:'iorla-of :the la'.\fi·:'author::tzing said· ~nds; .• s:i.td~ th8;;t_, ;the total indebtedness .. ,o.f": :said: ·C;i.ty' of PalQ•;A:J.~, inelu;ding .the ~~ndebtednes~ evidenced J:>:j'. tli!_s ,, ~am1e: ~? ~nds,, . P.~s ";not .. exce~d: :the · lim.1~: ,pres~ri'bed 'by.:the oonsti_tnt:ton. and. laws or _the _$'Cate o'Z ~1f;o.1".nia. . . : · · -· , · . ,·:-, '· ,,. . ~: . , --'Thl.s: bond ceases to bear interest ur..less prese.~~~a at mtUrity.· '~ : .. ··} . '. ;-:, ·"· ' . ':nr>W".i:mss ·WEEREoE'.;· the ;said City of J?alo Alto has' elm.sed "t;hi~, -~nd:, to·: 'be signed by the ~yor:_ and_ Tre·as:urer ·or ·said City,·_amF·to be ... e~si,gned-..b:r !ts .Ci:~·: .Cl;f3l:rki-. and :t-o'-·be · affixed' therf)t;O: "the.-. eorporat'S: seal of' said Cit.y o.~ '.·Puc> AJ;to,,·,,,ttp.:t:s·· .l,s.t: day; 0£ .'J'tl:Il.e, 1927 .. ••• ,. l . :-~ '':':'.' .;.~.-:,.. ,;r I'' .... : : . ,. •'f• 1,~~' ' ' ..,_ ~.-"\&!""-.'- ""' ,.· -' .. · ..... ;·"..: ~·· ~· :· ;,-·, ": r'·. :,·,~ ,·, •' . ·. '·' ~~'1.~,1&'~A,,··· ' ... ': ., ... , I .... '"·~· ~· .. :· ... D ' ' . ' ' J I i r I • • --~ • • • \ ' • ~ ' , ' • • • ' :• 1 • 1 -~' ~ ':"""" ~~' •r. \ :· ~\ ....,, '• •' ; "•'· • , '' I , 0 \. • " _. ~<-:=;-.• '-·· . . .... . . ' • n ' ; .. ·"'· :. ' ',-· ··~ .... ~:,{ ,::<"· . '," -, ·,.:.«.· ;_~ .... ;···~·' '(' . '< ~ _;., ,,' . .;.~ ' ....... -/' . '·' ' ·'··"·· •,' .:-. ·.:.' ·:.', : .. ·,, '• : '.'· 0.::. ',-.. ,-.. · ... , !'.' : • .. ·'·,: .. '.·. :· ... The -interest coupons· attaehed to as.id bonds . and :e-v1deno-1llg the: interest t:o·<acra.e. thereon shall '• be mmwered e~:c.Seeut:1ve1y and Shall he in aub-. stsnt18.l.1y the following f'orm, to ... Y,it: ' . . c~ncn No. ··..... ---Bond N~. ---on the . day o;f. .... A .. D ... t~e :City ··ot ·pai~ ilto will pay :the oe~:r hereof, at the; eity trea.stU"y of said. city in s'3J_d Ciety of Pa.J:o .Alto, Co'tJllt'Y o:t Santa c:aB.r'l~ s:t:ate of · Ce:l.i.fornia, Stat1.; .of' .Cali.fornia, the t;;um.· of. tw~rity-fi:ve doJ.:tars, 1n gold coin o:f theUn:t.ted States o:r Amer16.a~ £or the ~set'!.1-.annual interes._t.. _ dUe on that;;. date upon it.s abo;ve .numbered Palo Alto·· !!,P:vovement· Bonds·• of: 1927.. · · · ·· · Atid,it.1s: further o~dereclthat the Mayor o:f said City w!i..O''!is tlie chief" executive 0.t -said City be, and he .ia.1 hereby authorized to: sign .each and every one "ot:' 'said: oonds as: the 'said exeeu·tive. o.f s.aid cit:y as. aforesaid, .alld. that •me T:rea.surer o,f .&aid city be, arid he .is f:2;e;reby .autlio~ized to: 111gn each. and every one of.:: aa:id. bonds (;J:f said ~j.ty,: and:;that the City: CJ.erk o# s.a1_d e:1:ty be; end he· is. he~o:r authori . .z:ed to ·countersign -e:ach and ey~:.on~ of sa:!d bondJi o·r sud c1t:rir ~ana: he Shall. a:r~ :.t:aef:et~:: t,li~; -c~orate .·.s~al .. ot. ss.1a .e~i~Y'./ '.am; tlla~ ... :s~d:si~ &n.d,.:-·s:e~in,g~'.sl:ia,+1 c~1(1'tute. and be ·a·. ~3utf.te:Le:ri..t and. '.binding e.xecl.i.tion .. o'£· ·~a.eh : s:nd every "one'' of .. said bond$, by .. an··.f 'in 'behai£ of" .. $8.id • cit~, and that there sh8.11 bei lithographed or< . . print~d:.upon each mid everiy one.of~ :~O.UMns . ·attaehed to eacli. o:f' said. bonds; a litho~aphed or ... · . prfnt·e4.: fac· s:tmile s:tgnature cof .said. Treasurer . of qid~/e!;ty~, . and .said ... tac simile, lithographed 'or . · p~te:d si:gnata.re o~ said Ti-easu:re.r attaelleci to eS.ell··:.o.f .sdd dqup6ns s~ll const.itu.te and .be a . ~sui'f1c'.1ent .<a:c.d."binding .. ex..,cu:tion ·or each and· e:Very · one o::f\ sald coupc!'W 'by said City., ., . . '• . -. ..~~"'· ' . . ' .. . '~·· ·,,· .· ,, "'·: •. , .. :,,, •, ··' ,"\, . ... ; \ ·. •" ,.:.; ·,' ..... ,; . . ·, "' .. I • • .. '; ,.. ' '· . I" ! I ~ r. l ! i .. ( ( ,. ; -~ f. ' .:. i ~- :. ", ~-, . .. • . : .C:· '.'.'•'/ ,.': , . ~' , Aii.d the s"1d Council oi<the City ot Palo' Ai to .. ~er ordainil ·. that t:Ue~e shall .. be s)'ld .,is hereby prov:tp.ed -a.: siriking ftci& to1 be· ke.pt by ·t:ne Treasury ~f' s~d: Ci~y,, to be d~~,igr.a.~~d as the ".Sinldtlf Fund !or .the.···pa~ent .C)£ .. Inip~v~e:11t· BQn~ .of 1n1,. and that::: the,pr<)eeeds' of' the.:l~vy )aoove-.meritioned shall be paid irit:o said ·sinking . .ftmd ·as·. so:on: as. the s:ame~ · sh3'.11 be. ·collec.ted,. ~Cl.· shall .reiilain in said s:inking ·.fUiid, rmtil ~equi:red for· the respective. pay,m:ents of princd;p~-and interest tp.be niad~ upon said bo!ids, a.rid then~··when the resp~c:t1 Ve ·payments of' the principa.t anci interest of ·said bonds shall fall due, tha·T~asure:t-of said city be$' and he is hereby authorized and cormnanded,to pa.y out of the money of' . said s1n,k1ng fund,. the said respect:t "ite,. ,amounts thereof, when. demand shall be made therefor as 'Qy ;.:law required ii ·and , -o:P<>n the surrende~ ot the c orre·spotiding bonds and eou~~f 1 to snd Treasurer, the duty.of .said Treastir~~~· to c:aricel said: bonds and c0unons as paid,· immediately at'.t:er ·their. ·pa,ment. · "" i ,".,. ~· ,,, .. Aila. it is fur:the:r o:rdtrl.ned, eontraeted 1 ·, _ represen'f;ed 1 pro:mi.st;)~ ,and agreed that: no;ie of' the moneys paid infZ·o said. si:riking. f):md shaJ.l be used for S:r.ry other ·pttrp'ose ·than. '.th.e";t>.ajmen~ of the principal of said .:;indebtedness .arid.· ~.tie in~erest thereon, until .. the wllol.e.:am6;unt' o-£ said indebtedness sh8J.,J. have· ·been · fully· p~d·; and that e·acA ·.aiid every. ontl or ,the con-. .dit!o:a:S, and provisions., stated and provided.til relation .. ·: to tl:ie ,~~:aid .bor.d.~ 07 ~19::. ordinai1ce calling sdd electi~ri' shall be complied w:tt~~: ··. ·· ·· . . .. ~ '" · S~·. ··4. lll bonds of ;.Sl~id: city he~e1n provided to be ·~s.stl;ed;. shal:l; .be"~· ~;tte ·,~.e h~~einbefore prov1.ded, .... and ,sh~~::~ .·'3~e.cµt.e.et :~d, ·b~· :l'"~:a~r for delivery .to the. parehaser. on. pa~ent· .. i:>.t· ?.tI-en11se pr'.ice, an:d. shall l;>e l:ftll~a~d o-r 'F:.~n~:ed ·on: ~o·nd pape:r-,: so eall:edi, ~"ld. . ~hel'l;'':p~p.erly. exet~'.tt~~d, · sigtl;ed and seal~,,: shal;t be deil.1 irere•Ct. ~to th,,e . Ci'ty ·T:reaS:~re:i:-:, ~q a receipt thereror :executed·byhim to·the Mayo,r·of the City of Palo. ,A:l:.te>,. and th~ City Clerk.11; reciti:c.g the !lal!lber o-£ Q\el:i'bQ.nd,. arid'' that. the same is to be ·d~livered to thEf .~:r(ler >oX. the. Counc11· qt'. th~ City of·l)al.o Alto~ appro~ea by ·~h~· :M13:yor.~ a;D.ii said City Treasurer s'.b.all b~ hal:d responsible on his of'f'icial b<:>nd for .the sa:te cust~y . and deli VeJ;rY thereof;. as: aforesaid. Sec.:_ 6. ~s· ordinande shall bEjposted b7 the OityClerk on the bulletin board 1r.. the City Rall, 'arid sh.till take · e:f"tect and. be in force.: from and a.ft er its passage. · · .... \.:-. i : •. '·.':·'"· ',, ~· •' . .·. ",, • . I D ' . '· ·~ ... '•"' l ~ •'" ! ,, \ ; ,~, ......... :.:.'~ ~"'·~ l -.... ....·. I . ' ,, • D . ~ I '_;i' ~ ,, ,;,~- • 0 • .•;=• .. _•-• .. •;•? • .. •::•'("'.:·.)dn·.·.:"',i"',·. : .. •.::• .. -.• .... -•;s•a .. a• .. "•a•=-'-•. •.!llm•.•x_•JL• .. ~•("'11.::~·":'.a_,._.olll!!>• ... _•u~•--.,.• .. ~<111111.z111.111zs-••-•,:1!1!."'llfll'. •7•J!11S •Z!'Alllll.R•za•ac'l!.:lll••=111.••.11~~-a111;.':'.*~.s~p11:;11 .. ••.i•:~_._z,_.1.,r_•:•• II. -~,:Sl!ll1!11:2•_z.,4111a111•~:n•••· ••: •211s••a•:••••==-1••ll9 c ' ·.~ • :~;~'': : . ~· " : ' '. . . ~ I • . : . ' •. '' -~~ a·-. . ~,: ' . ' .. -· '• u . I ' . . : ~· ··•, ·,.·;,··_,,,, ~hts ~rdizt.ance , ~as_ duly pa~aed .and adopted _ as· an P·rd1nance:. of .the:. CitJ'.'. of' Palo 'Alto,. :at &: · regu.1.armeeting:of 'the. CQttncil._ -.,'£ the Cit'Y' of Pa.J..o .Alto:h:eld on t~ .. ,l4th .. day of. Febru.ary_, 1927, by the foliowing' vote: _· .. , -· _ Ans: . Bertsche-,,: Cathcart~ ·coo.le:y, Easterday ,Ro.1:>tart-, J<>roa.n~Kelly, Lausten,Thoi ts, ibomas ,Wing,,, Wood. NOES: None. - ABSENT: Bonn.; C_o-ttre11 1 Dtlveneck. Approt"edbyme' this 14th day ·.of Fe~ary, ~ A'.ttest: __ ~---· · ..... ·· .... ·.,.oly .. -~···.it"··~,_e,...;ri....!r---·------la.yo~ ~,,. : ' I hereby: certify-. that the · above and foregoing ordinance was duly passed as stated, and posted as directed above$ -·· I' ,, ! 1 1 ! ! ~ •