Resolution 00746RESOLUTION NO. 745.
A RESOLUTION HOMING FOR THE ISSUANCE AND REDEMPTION
OF THE BONDS OF THE CITY OF ALAMEDA, STATE OF CALIFORNIA,
TO THE AMOUNT OF $250,000 FOR THE ACQUISITION OF SCHOOL
GROUNDS AND COMPLETION OF LINCOLN SCHOOL IN AND FOR SAID
CITY, IN ACCORDANCE WITH AND AS AUTHORIZED AT A SPECIAL
ELECTION HELD IN SAID CITY ON THE llth DAY OF MARCH, 1924.
WHEREAS, a special election was held in the City of Alameda on Tuesday,
the llth day of March, 1924, in accordance with the provisions and requirements of
Ordinance No. 246, New Series, of said city, calling, providing for and giving notice
of such election, reference to said ordinance for further particulars being here made;
and
WHEREAS, it has been determined by a canvass of the returns of said election
by the City Council of said city, made Monday, March 17, 1924, and entered upon the
minutes of said council, that at said special election the incurring of a bonded in-
debtedness by said city for the purpose and to the amount herein stated was authorized
by an affirmative vote of more than two-thirds of all the voter e voting thereat, now
therefore be it
RESOLVED, by the Council of the City of Alameda ae follows:
Section 1. That the bonds of the City of Alameda, State of California, will
be issued in accordance with the result of the special election held in said city on the
llth day of March, 1924, and in compliance with the statutes of the State of Califonaia
and the ordinances of said city, to the amount of Tan Hundred and Fifty Thousand Dollars
(250,000.00), for the purpose of the acquisition of school grounds mad completion of
Lincoln School in and for said city; that said bonds shall be called "School Bonds",
shall be two hundred and fifty in number, of the denomination of One Thousand Dollars
(1000.00) each and shall be numbered consecutively from one to two hundred and fifty,
both inelusive, and shall be payable in numerical order consecutively commencing with
the lowest numbers in the manner following, that is to say: Seven of said bonds each
year for ten consecntive years, (the first seven to be paid July 1, 1925;; thereafter
eight of said bonds for the next ten consecutive years, and thereafter ten of said
bonds for the next ten consecutive years, and until all of said bonds shall be paid.
All of said bonds issued as herein provided shall be of the form and char-
acter known as "Serials". They shall be dated July 1, 1924, shall bear interest at
the rate of four and three-quarters per cent per annum, payable semi-annually on the
first days of July and January of each year until the maturity thereof; and the prin-
cipal and interest thereof shall be payable in gold coin of the United States, at the
office of the Treasurer of said city, or, at the option of the holder, at the fiscal
agency of said city in the City and State of New York.
Sec. 2. Said bonds shall be signed by the Mayor of said City of Alameda,
being the President of the City Council of said city, and by the Treasurer of said city;
they shall be countersigned by the Clerk of said city, and the seal of said city shall
be affixed thereto. Said bonds shall be eustahtially in the following form:
UNITD STATES CF AMERICA
STAN OF CALIFORNIA
CITY OF ALAI
SCHOOL BOND
No. ;1000.00
For value received, the City of Alameda, a municipal
corporation organized and existing under the laws of the
State of California, hereby acknowledges itself indebted
and promiees to pay to the bearer on the first day of
July, 19 One Thousand Dollars 01000.00) with in-
terest fEFFZOn at the rate of four and three-quarters
per centum per annum, mayable semi-annually, July let
and January lat, on presentation and eurrender of the
coupons hereto attached as they respectively become due;
both principal and interest being payable in gold coin
of the United States at the office of the Treasurer of
said city, or, at the option of the holder, at the fis-
cal agency of said city in the City and State of Nev York.
This bond is issued under and pursuant to the Con-
stitution eid statutes of the State of California, and
under and pursuant to ordinanoes and proceedings of said
oity duly adopted and taken and a vote and assent of more
than two-thirds of all the qualified electors of said city
voting at a special election duly and legally called and
held for that purpoee.
It is hereby eertified, recited and declared that all
ants, conditions and things required by law to exist, happen
and be,performed precedent to and in the issuance of this
bond have existed, happened and been -performed in due time,
form and manner as required by law, and that the amount of
this bond, together with all other indebtedness of said city,
does not eaceed any limit prescribed by the constitution or
statutes of said state, and that provision has been made as
required by the constitution and statutes of said tate for
the collection of an annual tax sufficient to pay the inter-
est on this bond as it fall due, and also provision to con-
stitute a sinking fund for the payment of the principal of
this bond on or before maturity. The full faith and credit
of said city are hereby pledged for the punctual payment of
the principal and interest of this bond.
In Witness Whereof, said City of Alameda has caused this
bond to be exeouted under its corporate seal, signed by its
Mayor, being ex-officio President of its city council, and
by its Treasurer, and countersigned by its Clerk; and has
caused the interest coupons hereto attached to be signed
by its Treasurer, and this bond to be dated the first day
of July, 1924.
ay x-o o
President of the City Council.
Y 4
Countersigned:
City Ole
asurer
Sec. 3. Interest coupons shall be attached to each bond to the number of
twice the number of years such bond will run until the maturity thereof, and in the
amount of Twenty-three and 75/100 Dollars ($23.751 each, which sum will be the amount
due for interest on such bond for six months. Such coupons shall be numbered from
one upwards and each shall state the number of the bond to which it is attached. Such
coupons shall be signed by the Treasurer of said city, by hi a engraved or lithographed
signature, and be substantially in the following form:
No.
FO
OF COUPON
:1223.75
On , 19 , the City of Alameda,
California, will pay to the-bearer at the office of the Treasurer
of said city, or, at the option of the holder at the fiscal agency
of said city in the City and State of New Yoric, Twenty-three and 75/100
Dollars in gold coin of the United States, being six months interest
than due on its School Bond No. , dated July 1, 1924.
Treasurer.
Sec. 4. For the purpose of paying the principal and interest of said
bonds, the City Council of the City of Alameda shall, at the time of fixing the
general tax levy and in the manner for such general tax levy provided, levy and
collect for the fund hereinafter provided for, annually each year, until said
bone are paid or until there shall be a sum in the treasury of said city, set
apart for that purpose, sufficient to meet all sume becoming due for the principal
and interest on said bonds a tax sufficient to pay the annual interest on said bonds,
and also such part of the principal thereof as shall become due before the time for
fixing the next general tax levy. Said tax shall be in addition to all other taxes
levied for municipal purposes, and shall be collected at the same time and in the
same manner as other municipal taxes are collected, and as collected shall be forth-
with paid into the fund for which the same was levied and collected; that such fund
shall be designated "School Bond. Interest and Redemption Fund, 1924", and all sons
to become due for the principal and interest on Baid bonds shall be paid from such
fund.
Sec. 5, The Mayor and the Treasurer are hereby authorized and directed
to fill in the blank spaces in said bonds in accordance with this resolution and to
sign all said bonds on behalf of said city, and the city clerk is authorized to count-
er-sign the same and to affix the city's seal thereto.
Sec. 6. The City Council may sell said bonds at such times and in such
amounts as it may determine, and the proceeds arising from any such sale shall be
placed in the treasury to the credit of the 'School Construction ?wed", which fund
is hereby created; and such proceeds shall be used exclusively for the purpose for
which the bonds were issued.
I, the undersigned, hereby certify that the foregoing Resolution was duly
and regularly introduced and adopted by the Council of the City of Alameda in regular
meeting assembled on the 15th day of April, 1924, by the following vote, to wit:
AYES: Councilmen Adams, Latham, Probst, Tilden and President Otis, (5).
NOES: None.
ABSENT: None,
IN TESTIMONY WBEREOF, 1 have hereunto set my hand and affixed the official
seal of said city this 16th day of April, 1924.
W. E. VARCOE,
City Clerk of the City of Alameda.
(Seal of the City of Alameda).
I hereby certify that the foregoing is a full, true and correct copy of
"Resolution No. 746. A Resolution Providing for the Issuance and Redemption of the
Bonds of the City of Alameda, State of California, to the amount of $250,000 for the
Acquisition of School Grounds and Completion of Lincoln School in and for said City,
in accordance with and as authorized at a special election held in said city on the
llth day of March, 1924", passed by the Council of the City of Alameda in regular
meeting assembled on the 15th day of April, 1,924:—