Resolution 0508242 7
PESCAUTIOD ,O. 5082
PROVRDITIG EDI). FEE ISSUES'S CF 8700,000 PRINCIPAL ,RICUPT OF
5Dism CF ALA1EDA 1955 MUNICIPAL IMPRDVDM9R1 DODDS",
PRECODIFING TIE DAMP T.ND FaaE 02 SAE. FORDS APT, 02 TEE
0001ONS TO 1D ATTACHED WITCMF193: FIXING ?RIF PARIMUM RASE 01'
IEFXRAST CORMS, END FERSCRIXINO TEE PERM-ICI:TIES
TESREFFm DU cmc lf(TOOTION OF SAID FONDA IJ D,
WHEHRAO, all the requirements of law have bean complied with in ceallinm
ann holding the special. bond election held in the City of nlameda on March 8, 1955.
at which. election. the measure to issue bonds of said City in the principal sum
of $700,000 for the objects and purposes hereinafter stated was submitted to the
voters of said City; and the Council o said City did duly and regularly. canvass
the returns of said election Lind did es the result of such canvass determine and
declare, and no hereby certify, that said. measure received at said ate:dial bend
election the affirmhtivm vote of more than two-thirdm of all of the voters on said
mO asure at said election, and was thereby carried.. and adopted by said. election,
and the issuance of said bandx by said City wns duly. authorized,
NOW, TUIRMAIMTEM DS IT RESOLVED, by the Council of the City. of Alameda,
as follousi
Section 1. That all acts, conditions and thinga required by. law te
exist, happen. and be performed precedent to and. in the issuance of said. bonds
have existed, happened and been performed in due tine, farm end. Dahmer as required
by. law, and said City of Alameda is now authorized tnimuunht to each and. every
requirement of 1' to 011> inhobtedness in the manner and form as in this
resolution provided.
Section 2, That bonds of the City f Alameda shall issue to pay the cost
of tbe acqueisilion, construction and. completion of the municipal improvemont of
said city (mtlixOl said municipal. improvement will be revenue-producing public works)
set forth in the foll) wimg measure, to wMt:
lailAsuLa (A )
(Ilunicihni GellT
Course Imprve
ments)
Shall the City of Alameda incur a
bonded indebtedness in the principal
amount of t.700,000 for the
acquisition, construction and
completion of the followiny) municipal...
improvement, to wit: Illaxiciusl Golf
Course improvements comprisingm sanitary severs and
water lines for sendtary facilities and drinking
fountains on existing' municipal golf course; new
eighteen hole municipal golf course and club hsuse to
be constructed on land owned or to be owned by- the City,
including grading, filling, construction, planting and
development of fairways and traps, club and servOce
buildings and equipment, and water and sprinkler systems,
sanitary sewers, fences, 01> lot, service ''10 access
roads, pipes, fitting's, valvos, sprinklers, wells, turps,
reservoir, culverts, machinery, apparatus and equipment
therefor; and other works, properties or structures
necessary or convenient for municipal golf course improve
ments of the City of Alameda?
Section 3. That said bonds shall be issued as hereihmfter set forth, and
shall be sold in accordance Ji.> law at not loss than their par value and accrued
nterest. Said bonds shall be S700,000 in aggregate principal amount and shall be
known as "City of Alameda 1955 1,1Paicipal. amprovevnt Bonds". S, id. bends shall be
nemotixbie in form, and. of the character known es serial, and shall be 900 in
number, numbered consecutively from 1 to 700, both inclusive, of the denomination.
of (1,000 each. Said bonds 01, be dated lady 1, 1955 (o hich. is hereby fixed and
determined to be the date of the issue of •such bonds). All of said. bonds shall
bear interest from their dute until paid at the rate or rates designated by the
Council of the City of Alameda at 0/' time of the sale of said beads, but not to
exceed five tmr cent (51(.) per annum, payable annually the first year and threafter
sami-annually. Such interest shall be evidenced by coupons attached. to each bond,
and each of said coupons shall represent 1101 months' interest (except the first
coupon which shall represent twelve months) interestl on the bond to which it 01-
ttached- Said interest coupons shall be payable 094 the ist day of May and. tne ist
day of November in eaph year until and at the 01 00' dates of maturity of said
bonds (except the first coupon an each bond unio_ . shal/1 . litpresent interest frum.
May 1, 1955 to May 1, 1958). Said bonds shall mature and be payable in consecutive
numerical order, from lower to higtor, '> 001>013010)
$55,000 principal amount of said bonds shall
mature and be payable on May 1 in
each of tha yoars 1960 to 1999, both
inclusive.
Both principal of and interest on said bonds shall be payable at the office of the
Treasurer of the City of Alameda, in Alameda, California, in lawful. money of the
United States of America-
Bonds =shared 1 to 350, both inclusive, of said. issue 71 ".1 by
their terms on or prior to May 1, 1969, are not subject to call or redemption
prior to their fixed maturity dates. Bmnds :cambered 351 to 900, both inclusive,
of said issue maturimhg on and after bny 1, 1990, are subject to call and redmmption,
at the option of said City, as a whole or in part in inverse numerical. order from.
hiebor to lower, on Lay 1, 1960 (but not prior thereto) and on any interest payment
O ate thereafter prior to their fixed. maturity date or dates at the prin3 ipal. amount
thereof and accrued interest thereon to date of redemption, together with a
redemption 0' '07 of 1/4 of 1.1 of such principal amount for each year or fraction.
O hereof from. the date of redemption to the date of maturity of the bonds BO 71.079,
provided that such rremiux shall in no event exceed. 3% of said. principal amount.
Notice of such redemption saall se gaven 1) publication of such notice once a week
for .7177 (2) successive ('(1 171, weeks 111 a newspaper of general circulation. printed
and published in the City of Alameda, State of Califoroaa, tha first publication of
hi3 h. snail be at least thirty (30) but not more than sixty' (60) days prior to the
date fixed for such redemption. After the date fixed for such redemption, if the
City shall hate duly publisbed. notice of such redemption and. shall nave provided
funds available for the payment of the principal of and interest on the bands so
O alled for redomotion, „interest on such bonds. shall tbereafter cease.
Section 4. Said bonds and coupons shall eaon be substantially- in the
following form, the blanks in said forms to be filled with appropriate words or
figures, namely:
thlhh`ED SaATES al? AMERICA
STATE OF CALIFORNIA
Alameda County
CDF32.22' 161-19-4On){:h1„.2hi
No. )
The
1.' OF AISAIMDA, a municipal 3" .3'''
organized and. existing under the Constitution and laws of
the State of California, hereby' achnowledees itself indebteal.
and for value receio ed. promiseS to pay to the bearer {or if
this bond.. be registered, to the rogistered. holder hereof) OR
the lat day- of 19 {subject to any rigalt of prior
redemption hareinafter in this Barb, expressly provided for),
ONE THOUSPOND DaLLARS {{1,000)
79, ,.,..7971.,. Bath interest thereon at the rate of her cent
(if per annum. until Jnylmunt of said princinal sum in fall,
payable annually the first yeat on Lay 1, 1956 and thereafter
semi-annually on the ist day of May and the 1st day of November
of each year. Unless this bonh he registered, ouch interust,
prior to maturity, shalB. be payable only on. presentation and
surrandar of the proper interest coupons hereto attached as
they respectively become due. Both the orincipmi or and.
interest on this and are 71, 01. in lawful monay of the United
States of America at the office. of the Treasurer of the City of
Alameda, in niateda Californa.
This bond. is one of a. duly authorized issue of bands
of said City- aggregating Se van Hundred Thousund Dellers
{{:':1Nd0,000) in princapal amount, all of libe tonor and date
(except for such variations, if any, az may be rut:tired to
designate varying numbers, maturities or interest rates), ana
is issued under and pursuant to the Constitution ond statutes
of the State of California, and under and oursuant to the
ordinances 79. proceedings of sale: City duly adapted and taken
and a vote and assent of more than. two-thirds of all. the
qualified electors oX said City voting ath,ta special election
duly called and held for that purpose. ,4
It iS hereby certified, recited and. declared that all
acts, sonditiono And. things resnired by law to exist, happen and
to be performed orecedent to and in the issuance of this bond
have existed, happened. nne. been performed. 79 n d79 e time, form and
retainer as required. by law, and that thP amount of this bond,
together with all other indebtedness of said City, does not
expeed any limit prescribed by the Constitution or statutes
of said State, and that provision has been made am required
by the Constitution and statutes of said Stmte for the
collection of an. annual tax suocifieent to nay the principal
of, and interest on, this bond as tnm same 'become due. The
full failEc and credit of said City are hereby pledged for tho
pmnctual payment of the porinuipal of and interest on this bonr.
This bond aay be regdstured. in the !mariner provided
by law and thereafter trac principal hereof and interest hereon
shall De payable only 10 333 registered mwner.
Bonds numbered 1 to 350, both inclusive, of said
issue maturing by 301 terms on or prior to May- 1 1969, are
not subject to call or redemption prior to their fixed maturity
dutes. Bonds numbered )J1 to 000, both 1013 01( of said
issue maturing o, . end after May 1, 1970, are subject to call
and. redemption, at the option of said City, am a Whole, or in
part in. inverse numerical order from higUer to lower, on
May 1, 1960 (but not prior thereto) and on any interest neyukart
datn thereafter prior to their firnd maturity date or dates at
the principal amount thermof and accrued interest thereon to
Culte of redemption together with a rodommtion premium of 1/4 of
R. of such principal amount for each year or frnction thereof
from. the date of redemmtion to the date of maturity of the
bonds so :redeemed provided that such premium snail En no event
exceed 3% of said principal amount. Notice of subh redmmption
shall bo gdawn by publication of suet notice once a week for
two (2) successive calendar weeks ,L" a newspapmr of ywneral
circulation printed and publishod in the City of Alameda, State
of California, the first publication of welch. shall be at least
thirty (30) but not moro than sixty (60) 3' prior to thm dato
fixed for such redemption. After the date fixed for such
redemption, if the City- shall have duly published notice of
such redumption! and. shall. have provided funds available for the
payment of the principal of and interest 'on the bonds so callmd
for redecoration, interest on such on 31 thereafter cease.
IN SIINESS WrIERERT, the City of Alamedu has caused
O his bond. to be executed under its official seal, signed by its
Mayor and its Treasurer, and countersigned by its Clerk and
has caused. the interest coupons attached hareto to be signed. by'
its Treasurer, and this bond to be dated the lot day of Eay, 1
S. Chesloy '001
Mayor of the dity of Alameda
Countersigned: Homer R. Dmlias
Treasurer of the City of elameda
Shirley Tennier
City Clerk of the City of ('1 03
00111)011 UO.
On the lst day of 119 ,
subject to any right of prior redwmr5lon
reserved icrthe bond. hereinafter mentioned
to which this coupon appertains, the City
O f Alameda will (unless the within mentioned
bond
(1 registered) 1 to the bearer at the
office of the Treasurer of said ity in
Alemeda, 0a1 3 fo3' n1a. Dollars
in lawful money of 1) (7(77.-n1 66T0 0 T7aes of canscrimuNT
being months!
('-t 1111 duo on 1)1)'-
,j Eralluipal Improyeaent Bond. . . . NIM.
dated. May 1 1955.
Treasurer of the City of Alameda
City -
execute each
of its deputies,
bonds and to aff
City
g oie.. r m
authorized and
sure= of said
to
60
e xecut:i_.;11 u < -1b. bonds oho
C0 countersiEnctures, excepting:
printed, lithographed
or J iirc ,� countersignatures
delivery O;" S
signature sh_ii nevert C3E - be
though they h d.
remain d it office until_
facsimile signature.
be a sufficient and
Ci
such. {0] f1Ca.rc whose s
r3o
Section 0.
Council of
availallo
a sinking
SUO0
next s:nur' l tam le rs, ;i1:L be
tacos t _ i, u d to cenobite'
other
taxes
ice same were levied.
1 r:Id]. 1 ?F5 lL1111 l3a.i
sus tt
L» S ,1d J0 do Si .L `le taid r
is said S' u10 any Lyonf
y and aa10lla
0r Ln0'.
shall
r'cl ziun. tale
to the datc of
snea+ = .C'Uisi.ticl :nd.
tie �.,usuz o said City, and tali nrocr
ittl •.:z; c i °tled int <.1eLt received on suc
'" und and hail
.1cz11 be aT,nl led.
arid object spo
remaining
be knows
ace
Ct
Section :' or
,eeu
has
Fund :end do use
blank t;anu.5
r''n " :i t: ed., L', ii r ".i 'L., C? CL1? +- i.•0'. }. r n. "1 }L ?_C:
the proviS ions o f y G O 131'0 u'
mid.. t0 Cell r t 0 • a when Ld L. =cuteC.
safely 66 .:_rec' until t -cy" ,> .;111
deliver m to
price. t'. Mayor, surer
t`1 ,vice ..r3c r
r.17:ni �p2�1. titJn (15 ?t
lid. bona
to a.
delive pure
required ")ir `.;Ll. chasers
trice. i_e 1.c. at
paz yme
re
irua,1
tic principal
number of
soid
G of
OS Treas
authority of this reso
id bonds a �eaS1.
tof J11(' , t; v1 c; ie
:i T;u sd011 Lu 0013.01
tO- ci.rily
purchase
evidence
Mop ourchas or -
C'S to ral ,X' ztTr 1
d rlo7 11. . - r
1to1 1 ' t ,C
of said bonds shall be offered 'o ;Arts a_ c sale by the
i3
on the 19th clay :}'' 1 i'� e:? ', ui. G, irtv7 City 0.Lu
tO 061696 not Jz e. ., <. +1 G:L' said `;onds to
4:31
5,177 NOT= OF ShI.E
CITY OF JUMENLEDS5 1955 MEI ljIPAL IF:MOVEMENT ,190TDS
7UITZ GIVEN that sealed proposals will be received by. the
Connell of the City of giameda, State of California, at the office of the City
Clerk thereof, City Hall, flameda, California, OA
Tuesday, :April 15, 1955,
at tho .b.par of 8:00 ofolook (P.S.T.) for thtodurchase of .((700,00.0 principal
amount of bonds of said City dosignated 10ity of Blame:la 1955 Municipal
Improvehent BonPo°, more phrtioularly dosoribed. below:
ISSUblt $700,000, consisting of 700 bonds, numbered 1 to 700,
both inclusive, of tne donomipation of B1,000 each,
all dated :ray I, 1999.
Said bonds mature serially in consecutive humerical
order, from lower to 1' .3 as follows: 0, ,000.
principal amount on ay• 1 in each of the years 1960 to 1979 both inclusive.
yEDIIIIPTICVp Bonds numbered 1 to 550, both inclusive, of said
issue maturing by their terms on or prior to
may I, 1969, are not subject towall or redemption prier-to their fixed.
maturity dotes. Bonds numbered 351 to 700, both inclusive, of said issue
maturing on and after hay 1, 1970, are subject to call and redemption, at the
option of sold. City, as 11 1 hole, or in hart in 1.") ".3.3 515 51 order from
nigher to lower, on taiy 1, 196o (but nob. pTiOT thereto) and on any interest
paynont date .1. prior to their fixed maturity date or dates at the
principal amount thereof and accrued interest thereon to date of redemptiong
together wdth a redemption premium of 1/4 of 11, 37' such principal anount for
each yoar or fraction thereof from the date of redemption to the date of
maturity of the bonds so redeemed, provided that such. premium shall in. no
event ezeeed 5 of said principal amount. hotice of such. redemption shall be
given. by publication of such notice °net a week for two (2) successive calendar
weeks in a 317.31 ''3. of .3L 5) circulation printed and published in the City
of Alameda State of California, the first publication. of which shall be at
least thirty 130) but not nure than sixty (PO) days pTior to tha date fixad. for
such redpmptien. Bfter thn date fixed for such redemption, if the City shall
havb duly.
21 51 notice of such redemption and shall have provided. funds
available for tha payment of the principal 0, and interest on the bonds so 7.
called. for redemption, interest on such bonbs shall theroafter pease.
INTIEREET Muxinum five per cent (5%) per annum, payable annually the
first year 31 on ljay 1, 1956, and thereafter semi-annually on
may I and November 1 in each year. Bidders must specify the rate of interest fthich
the bonds hereby offered for salt shall bear. Bidders will be permitted to bid
different rates of interest and to split rates irrespective of the maturities of
said bondo. The interest rate stated 11 tno bid must be in a multiple of one-
quarter of one per cent per annum, payable as aforesaid.
PSOMENT: Both principal and. interest payable in lawful money of the
United States of American at the office of tbe Treasurer
of the City of Alameda in Blameda, California.
TJEGISTRBSOIGN: Coupon bonds will be issued by the City. auch. bonds are
rogisterable only as to both principal and. interest.
PUP:POSE OF ISSUE: Seid bonds are authorized by vote of two-thirds of the
qualified voters voting at a apeaial mumicipal election for
the purpose of authorizing bonds for municipal golf coursn fmprovoments for the
City of lameda,
ECUllITY: Said bonds aro general obligations of the City of Alameda,
and said City has pour and is obligated to levy ad valorem
taxes for the payment of said. .31 anf tbc interest thereon upon. all property'
within the City of Alameda subject to taxation bo self City (except certain
intangible personal property, which is taxable at limited rates) without
limitation of rate or amount.
ThIE EMI= In the event that prior to the delivery of the bonds the
^rn MF9 ^ income received. by private holders from bonds of the same
type and character shall be dec„1.,ered. to ba taxable under any
Federal income Tax Laws, either by the terms of suchmlawo or by rulfing 0' a
Federal income Tax authority or official which is folltfAlll by the Internal
Revenue Xepalden, or by 7.37.1 11 of any Federal Court, the successful bidder may,
at his option, prior to the tender of said bonds by the City, be relieved of his
obligation under the controct to purchase 7, bonds and in such .3 the deposit
accompanying his bid. will be returnud.
LEGA', OPINION: The legal opinion of Messrs. Orrick, Dablquist,
Herrington 0, Sutcliffe, of San fRancisco, California,
approving the validity of said bonds, will be furnished to the successful bidder
without charaa.
juddRES OF aALE
Highest Hidp The bonds will be awarded. to the highest bidder,
considering the interest rate or rates speairied and
the premium offered, if any. The highest bid wdll be determined bm deducting
tho amodnt of the premium bid (if any) from the total amoent of interest which.
the City would be repuired to pay from the date of said. bonds to the respective
maturity. dates at the coupon rate or rates specified in the bid, and the award
will be made on the basis of the lowest net interest cost to the City. The
lowpst net interest cost shall be computed betsaem the dates aforesaid on a
360-day ppar basis. The purchaser mnst pay- accrued interpst from the date of the
bonds to the date of delivery. Tho cost of printing the bonds rdll be borne
by- tfr City.
Right of The City of Alameda reserves the right, in its
Rejection discretion, to reject any and all bidp and. to waive any
irregularity or informality in any bid.
PromptAsPrd: Thu Council 11 tha City of Alameda will takr action
awarding the bonds or rejecting all bids not later than
24 hours after the •exPiration of the time herein preseribrd for the receipt 1
nroposals; provided that the award may be nude after thr expiration of the
specified timr if the bidder shall. not have given the Council notice in writing
of the withdrawal of such proposal.
Prompt Delivery: Delivery of said bonds will be mrde to the successful
bidder at the office of the City Treasurer, in hiameda,
Caldfornia, as soon as the bonds can be prepared, but not prior to May 1, 1.955.
Right of
Cancellation: Tto successful bidder shall have. the right, at Ills
option, to cancel the contract of purchase if the City
shall fail to execute, the boneg and tender the same for delivery within sixty
;60) days from Ur date of sale thereof, and in such event the 13110005,31 31 bidder
shall be entitled to the return of the deposit accompanying Lis bid.
Form of Bid: All bids must be for not less than all of thr bonEs
hpreby offered fer sale; and for not less than 3.0 par
value thereof and accrued interest ot (11 of delivery. Such bids, towether
with bidder's check, must be enclosed in a sealed. envelope addressed to the
Gouneil af the City of Alameda, California, and endorsed ',Proposal for the City-
of Alameda 2.955 Municipal improvement Rands,"
Bid Check: With each Did must bp submitted. a certified check or
cashierlo check for *2,000 dravm on a bank or trust
Company transacting businegs ill the State of California, payable to the order
ef the City Treasurer of tkp City of Alameda to secure the City fr3 m. any loss
resulting from. the failure of the bidder to comply with the terms 1 his bid.
Tn addition, bidders are requested. (brt not required) tr supply a1 . estimate
of the total Let interest cost to the City on the basis of their respective
bids, stiph shall be conaidereg as informative only and not binding on either
the bidder or the City. Chocks of the unsuccessful bidders will be returned by
the City. by mail uppn tbp award of the bonds. No interest will be paid Upon
the depcpit made by the successful. bidder.
e*gappga*********a
Tnpormation relative to the financial.. condition of the City 1) Alameda
will be furnished to any bidder upon request.
There is np controversy or litigation pending or throatenpd concern-
ing, the validity of the above issue, the corporate existence of the City or the
title of the officers thereof to their respective offices, and the City will furnish
to the successful bidder a noglitigatien certificate certifytng to the foregoing as
of and at the time of the delivery of the bonds.
Dated: April ;5, 19.dg31.
S M. TEMITTER
0 o of the City of Alameda
State of California
433
Section . This resolution shall take effect from and after its
passage ane approval.
vote:
AlESb Councilmen Haug, Jones, MaCalE, ISreni and ProsidEnt Andorson, (5).
PASSED AND ADOPTED this 5th day of April, 1955, by the follbJwing
NOES: None.
ASSENT: None.
SHINES TXNNIER
Ttri t y 61717757,7
3. CBES-LEY AXTENSON
Mayor of the City of Alannua,
State of Onlifonnia
Presented to and approved bm Rn this 6th day of April, 1955.
XESLINEL
2737or fhe City or,Titi167;-
State of California
***************
I, the undersigned, hmreby certify- that the foregoing Resolution was
duly arid regularly' introduced and adopted by the Council of the City. of Alameda. in
regular meeting! assembled on the 5th day of April, 1995, by the following vote, to
izderson, (5).
AYESE Councilmen Haag, Jones, McCall, Moresi and. President
NCTES; Nona.
ABSEXJM None.
22 WITNESS WHEREOF, I have hureunto sot my hand and. affixed the official
seal of &a:I.:a City this 6th day of April, 1955.
(SEEL)
Ci-ED7 --re.
I hereby certify that the foregoing is a fucli, truo ann correct copy of
fRnsolution No. 5082, PROVIDING. TOR THE ISSISUAnl OF $700,000 PRINCIPAL AMOUNT OF
?CITY OF MEAMEDX 1955 MUNICIPAL IMPROVEMENT BONDS?, PRESCRIBING TEE DATE XED Folal CF
NAIR! ETNTS AND Oh TEE Can-GNP fG TIE ATTACKED TOIRRETCm FIXING =X MAXINSM NATE OF
INTEREST EN SAID BONDS, AND PRESCRIBING IRXRDXFPIES THE,REOF; AUTHORIZING TEE
EXECUTION OF SAID BONDS AND COUPONS,' 22D1:11: 19C TEE LEVY OF A TAX TO PAT ISE
PRINCIPSL ANN INTEREST ?FERREE; AND DIRECTING NOTICE OF SnIE OF SAID BONDS TO BE GIT7T,,
introduced. and. ndhhted by the Council oh the 5th day of April, 1955.
q
Eity cle15/10 11 e Jity of alameda
.5 ?-
t i