Resolution 04348RESOLUTION NO. 4348
PROVIDT�j'Trj FCR Tel., TSST:AITC-4' OF 41 9160 DO(% PRINCIPAL AMT
CLC
OF' "Cll�y OF ALS. `DA
1951 SEWER BEDS", PRESCRIBIEC, THME CAM
AND FORM OF SAID BONDS AND OF THE COUPONS- TO BE ATTACBEU
THERETO; FIXING TT
HE iAXIMI'MY 1W711 OF INIEREST ON SATD BO�Ms
ANN PliESCRIBI-NN AUTHORIZING T11iF
EYI,'CT�ITTON OF SATD, BONDS AND, COUFONS; PROVIDING FOR THE LE'VVY
OF A TAX TO PAY THE FRTNCIP-1, AND INTEREST AND
DIRECTING NO"I'l] OF SALE OF SAID _70IMS TQ BE GT717NI.
WFEREAS, all the requirements of law have been complied with In calling
and holding the special bond election hold in the City of Alameda on March 13, 1951,
at which election the measure to issue bonds of said City In the principal sum of
$1,160,000 for the objects and purposes hereinafter stated was submitted to the
voters of said City; and the Council of said City did duly and regularly canvass the
returns of said election and did as the result of such canvass determine and declare
and do aereby certify, the-,; said measure received at said special bond election the
affirmative vote of more than two-thirds of all of the voters voting on said measure
at said election, and was thereby carried and adopted by said election, and the
issuance of said bonds by said City was duly s,,,thorlzed.
NOIN, THERI-70RE, BE, IT RESOLVED by the Council of the City of Alameda, as
,follows -
Section 1. That a2i acts, conditions and things required by law to exist,
happen and be performed precedent to and in the issuance of' said bonds have existed,
haptened and been performed in due time, form and manner as required by law, and
saL�*a City of Alameda is now authorized pursuant to each and every requirements of
law to incur indebtedness in the manner and form as in this resolution provided.
Section 2. That bonds of the City of Alameda shall issue to pay the cost
of the acquisition, construction and completion of the emnicipal improvement of said
City set forth in the fGllowlng measure, to -wit:
MPA S URE - Shall the City of Alameda incur a
bonded indebtedness in the princi-
pal amount of $1,160,00o. for
acquisition, construction and
completion of the following muni-
cipal improvement, to -wit: Improvement of the municipal sewage
system, including separation -of storm water and sanitary sewer
systems, connection of sanitary sewer system to East Bay Muni-
eipal District Alameda Intercepter, new storm water and
sanitary sewer lateral and main lines, reconnection of existing
sewer lines, pumps, pipes, manholes, catch basins, connections,
equipment, lands, easements, rights of vaay and other works
property or structures necessary or convenient for the improve -
:sent of the municipal sewage system of the City of Alaineda?
flection 3. That said bonds shall be issued as hereinafter sell fortn, and
shall be sold in accordance with law at not less than their par value and accrued
interest,. Said bonds shall be $1,160,000. in aggregate principal amount and shall
be known as "City of Alameda 1.951 Sewer Bonds'. Said bonds shall be negotiable in
form, and of the character known as serial and shall. be 1,160 in nueben, numbered
consecutively from I to 1,160, bot.0 inclusive,, of the denomination of '�1,000. each.
Said bonds shall be dated June 15' 1951 (which is hereby fixed and dete4'�nlned to be
the date of the issue of such bonds). All of said bonds shall bear interest from
their data until aaid at the rate or rates designated by the Counc1l, of the City of
Alameda at the time of the sale of said bonds, but not to exceed five (5) -an cant
per annum, payable semi, -annually. Such interest shall be evidenced by coupons at-
tached to each bord, and each of said coupons shall represent six months' interest
on the bond to which it Is attached. Said interest scupons shall, be payable on the
15th day of lure and the 15th day of December in each year until and -at the respec-
tive dates of matarity of said bonds (the first coupon on each bond representing
Interest from. June 15, 1951, to December
l-5, 1961).' Said bonds shall mature and be
payable in consecutive numerical order, from lower to h1gher, as follows;
$30,O00> principal amount of bonds shall mature and be payable
on June 15 in each of the years 1252 to 1955, both
inclusive; and,
$40,000. principal amount of bonds shall mature and be payable
on June 15 in each of the years 1950 to !gel, both
inclusive.
Both the principal of and Interest on said bonds shall be payable at the office
ce of
the Treasurer of the City of Alameda, in Alameda, California, in lawful money of the
United States of America.
Section 4. Said bonds and coupons shall
1 each be substantially In the fol-
lowing form, th, blank,, In said forms to be filled with appropriate ewores or figures
namely:
M
I
MITITED STATES OF AMERICA
S TAM OF CA-FCHNTT ,
Alameda County
CITY U klAIME-DA 1951 SEMIS.. BOOT)
--- �______________
M
ipl, mo
The CITY CP ALAIEDA, a municipal corporation Organized and existing under the
tutlon and laws o" the State of Callfornlia, hero -by acknowled,e6 itself in-
debted arA fol val-uo received promises to pay to the bearer (or if't'lls bond is
registered, to the reOistered holder hereof)' on the l5th day of June, 19
01E'THOUSAND DOLLARS
together with interest thereon at the rate of I
per cent per annum until payment of said principal -s-5um 'jr full—Pa7-iiyTle semi-
annually on the 15th day of June and the 16th day of December of each year. Unless
this bond is registered such interest, prior to maturity, she!!- be Payable only on
oresentation and surrender of the proper interest coupons hereto attached as they
respect-vely become due. Both the principal of and interest on thl'-s bond are pay-
able In lawful mcney of the United States of Anerica at the office of the Treasurer
of the City of Alaineda, in Alameda, California,
This bond is one of a duly authorized issue of bonds of said City agSregatirg
One Million ('no "undred Sixty Thousand Dollars 01,160,000) in orincipal amount, all
of like tenor and date (except for such variations, if any, as -may be required to
designate varying numbers, maturities or interest rates) and is issued under and
pursuant to the Constitution and statutes of the State of California, and under and
pursuant to the ordinances and proceedings of said City duly adopted and taken and a
,rote and assent of more than two-thirds of all the qualified electors of said City
voting at a special election duly called and held for that purpose.
It Is hereby cortlfied, recited and declared that all acts, conditions and
things required by law to exist, happen and to be performed precedent to and In
the .issuance of this bond. have ox'.. -ted, happened and been performed in due tiro,
form and manner as required by law, and that the amount of this bond, together
w 1 ,
th all other :indebtedness of sa'-d City, does nct exceed any limit prescribed by
the Constitution or statutes of said Ctate, and that provision has been made as
required by the Constitution and statutes of said State for the collection of an
annual tax sufficient to Day the principal of, and interest on, t."iis bond as the
same become due. The full faith and credit of said C,ty are hereby pledged for
the punctual payment of the principal of and interest on this bond.
his bond may be registered in the manner provided by law and thereafter the
principal hereof and Interest hereon shall be payable only to such registered oviner,
IN ,VITMESS VVHEEIREOIF, the City of Alameda has caused this bond to be executed
under its official seal, signed by Its ','Iayor and its Treasurer, and conn' ironed
by its Clork, and has caused the Interest coupons attached hereto to be signed by
its Treasurer, and this bond to be dated the 1511h day of June, 1951.
Countersigned,
ty Sleek of the City of Alameda Treasurer Of the City of Alameda
(Fovin, of Coupon)
Coupon No.
On the 15th day of 19 _,
the City of Alameda will (unless the within mentioned
bond be registered) pay to the bearer at the office
o' the treasurer Of said City, in Alameda, California,
Dollars,
in lavafu'i money
of the United States of Amorica,
being six months' interest then due an its 1951
Sestor Bond - - - - - - - - - - - - - - - - ® - - - - No.
dated June 15, 1951
Section 5. The h1ayor Of the said City of Alameda and the Treasurer of
said City are hereby authorized and directed, respectively, as such officers, to
execute each of said bonds on behalf of' said City, and the City CleriL, Or one or
more of his deputies, Is hereby authorized and directed to countersign each of said
bonds and to affix the official seal of said City thereto. Said T.Ta7or and Treasurer
are hereby each, respectively, authorized to cause said bonds to be sinned by their
MOWN
printed, lithographed or engraved facsimile signatures. Said Treasurer is hereby
authorized and directed to sign each of the Interest coupons by printed, litho-
graphed or engraved facsimile signature. Such signing, countersigning and sealing
as herein provided shall be a sufficient and binding execution of said bonds and
coupons by said City, and all such signatures and countersignatures, excepting that
of the City Clerk or his deputies, may be printed, lithographed or engraved. in
case any of such officers whose signatures or countersignatures appear on the bonds
or coupons shall cease to be such officer before the delivery of such bonds to the,
purchaser, such signature or countersignature shall nevertheless be valid and suffi-
cient for all purposes the same as though they had remained in office until the
delivery of the bonds.
Section 6. For the purpose of paying the principal of and Irte-vest on
said bonds, the Council of the City of Alameda shall, at the time of fixing the
general tax 1OV7 and in the manner for such general tax levy provided, levy and
collect annually each year until said bonds are paid, or until there shall be a sum
in the treasury of the City set apart for that purpose to meet all suns coming due
for principal and interest on such bonds, a tax sufficient to pay the annual inter-
est on such bonds as the same becomes due, and also such part of the principal
thereof as shall become don before the prodoods of a tax levied at the time for
making the next general tax levy can be made available for the payment of such prin-
cipal. Said tax shall be in addition to all other taxes levied for municipal pur-
poses, and shall be collected at the same time and in the same manner as other mun.1-
cipal taxes are collected, and be used for no other purpose than the payment of said
bonds and accruing interest. Said taxes as collected shall be forthwith paid into
the fund for which the same were levied and collected and wh-*,ch shall be designated
"City of Alameda 190 Sewer Bond Fund", and all sums to become due for the Principal
of and interest on said bonds shall be paid from such fund. There shall 'I'likewlse be
deposited in said fund any moneys received on account of interest accrued on said
bonds from their date to the date of delivery and actual payment of the purchase
price thereof.
Section 7. There is hereby created and established a fund to be known as
the "1951 Sewage System Improvement Fund", which shall be kept by the Treasurer of
said City, and all Proceeds of the sale of the bonds (except accrued interest re-
ceived on such sale)
shall be placed by the Treasurer to the credit of said fund and
shall be kept separate and distinct from all other municipal funds, and shall be ap-
plied exclusively to the acquisition, construction and completion of the aforesaid
municipal Improvement.
Section B. The City Clark is directed to cause a sufficient number of
blank bonds and coupons of suitable quality to be lithographed, printed or engraved,
and to cause the blank spaces thereof to be filled In to comply with the provisions
hereof, and to procure their execution by the Proper officers, and to deliver them,
when so executed, to the Treasurer of said City who shall safely keep the same until
they shall be sold by the said Council, whereupon he shall deliver then to the pur-
chaser or purchasers thereof, on receipt of the Purchase price. Said. Yayor, Trea-
surer and City Clerk are further authorized and directed to make, execute and de-
liver to the purchaser of said bonds a signature and no -litigation certificate In
the form customarily required by purchasers of municipal bonds generally, certifying
to the genuineness and due execution of said bonds and further certifying to all
facts within their knowledge relative to any iftf-gation. which may or raight affect
said City, said officers or said bonds, and said Treasurer is further authorized and
directed to make, execute and deliver to the purchaser of said bonds a Treasurer's
receipt in the form customarily required by purchasers of municipal bonds, ovidenc-
Ing the payment of the purchase price of said bonds, which receipt shall be conclu-
sive evidence that said purchase price has been paid and has been received by said
My. Any purchaser or subsequent taker or holder of said, bonds Is hereby author-
ized to rely upon and shall be justified in relying upon any such signature and no -
litigation enrtificate or Treasurer's receipt with respect to said bonds executed
pursuant to the authority of this resolution.
Section
Z � 9. All of said bonds shall be offered for Publicsale by the
Council of the City cf Alameda on the 15th day of slay, 1951, and the City Clerk is
hereby authorized and directed to cause rVice of the sale of said bonds to be pub-
lished once in the AIAN7DA WYES-STAR, the official newspaper of sold City, and such
notice shall be substantially in the fallowing form, to -wits
CI-71,1ICTAL rCTICE OF SALE
CITY CIF A111, ,11A 1951 ISEAFER 50TID-S
NOTICE IS NLEREBY GIVEli that sealed proposals w-1,11 be received by the
Council of the City of Alameda, State of California, at the office, of the City Clerk
thereof, City Tlo,21, Alameda, California, on
TpESDAY, PlAY 15, 1951
at the hour of 3:00 o'clock F. M. (C.D.S.T.) for the purchase of ', ,
,1' 160' 000. pri
-.ncl.-
pal ancurt of bonds of said City designated "City of Alameda 1951 SC-ojerRonds% more
particularly described below*
ISSUE., 01,160,000., consisting of 1,160 bonds, nurabored 1 to 1,160,
both Inclusive, of the denomination of ILOM each, all
dated June; 15, 2051.
MA'I' U R: 1, T I It 3 Said bonds mature aerially in consecutive numerical order,
from lower to higher, as follows : $.30,000. principal amount
on June 15, in each of the years 1952 to 1955, both inclusive, and $40,000.
pr_ncipal amount on June 115, in each of the years 1956 to 1901, both inclusive,
vilthout option of prior payment.
!NTEITEST RA71E. TVaaciriwn five, (5) per cent per annum, payable semi-annually
on June 115, and December 15, in each year. Bldlers, rra,,st
spec'fy the , rate of s.zate.rest which the bonds hereby offered for sale, shall bear.
BILddors -will be permitted
tted, to bid different rates of interest and to split ratos
irrespective of the maturities of said bonds. The interest rate stated in the
bid rust be In a multiple ofone-quarter of one percent per anrur., payable somi-
annually.
PAY17M Both principal. and interest payable In laivfui roney of the
United States of America at the office of the Treasurer of
the City of Alameda, in Alameda, CaII-forria.
REGISTRATION, Coupon bonds will be, issued by the City. Such bonds are
reds enable only as to both. principal and Interest.
PURPOSE. OF !SSU7: Said bonds are authorized by vote of two-thirds of the au -,11 -
fled -voters voting at P special election fol, the purpose of
PuathorlzinF bonds for the lmnroveznent of the municipal sewaxe system of the C1, ty
of Alameda.
SECURITY- Said bonds are general obligations of the City of Alameda,
and said City das power and is obligated to levy ad valorem
taxes for the payment of said bonds and the interest thereon upor all. property
thLn the City of Alameda subject to taxation by said City�
(except certain in-
tangible w] -*ch Is at 11 .(-a) without 1i. _talion
tancible 7, renal pr n taxable '10tee rates
of rate or amount.
TAX EXEMPT STATUS- in the event that prior to the delivery of the bonds the in -
cone received. by private holders from bonds of the same type
and character shall. be declared to be taxable under any Federal income Tax Laws
either by the terms of such laws or by ruling of a Federal income Tax authority
or official wh4ch is followed by the Bureau of internal Revenue, or by
of any Fede^al Court, the successful bidder may, at his option prior to the ten-
der of said bonds by the City, to relieved of his obligation under the contract
to purchase the bonds and in such case the deposit accompanying his bid will, be
returned.
I -F -GA -1, GPINION- Tne legal opinion of Vessrs. Orrick, Dahiquist, Neff & Herrirg-tan.
of San Francisco, California, approving the validity of said
bonds, will. be furnished to the successful bidder without charge,
TERMS OF SAIE
L --'_hest '!',is bonds will be awarded to the highest bidder considering
the interest rate or rates specified and the premium offered,
if any. The highest bid will be determined. by deducting the amount of the Dre-
m0l,jr. bid (if ariy) f -or. the total amount of interest which the City viotild be re-
quired to pay from the date of said bonds to the respective maturity dates at
the counon rate or rates specified in the bid, and the award wil-, be. made on the
basis of the lowest net interest cost to the City. The, lowest not interest cost
shall be conputed between the dates aforesaid according to thirty -day north stan—
dard four decimal municipal '.bond interest tables. '.'e`purchaser must pay accrued
he
- The cost of printing
interest from the date of the bonds to the date of delivery.
the bords -wlii be borne by the City.
2j_-,ht_of_Re_ject.ion.- The City of Alameda reserves the right, in its discretion,
,
to reject any and all. bids and to waive any Irregularity
or informality in any bid.
Prompt Award- The Council of the City of Alameda will take action award -ng
the bond,,; cr rejecting all bids not later than 24 hours after
the, expiration of the time hereir, prescribed for the receipt of proposals-, pro -
vi d that the-, award may be made after the expiration of the specified time if
the bidder shall, not have given to the Council notice in writing of the with-
drasvai of such proposal.
Delive-y of said bonds will be made to the cuccennfal bidder
at the cffi-,e of the City Treasurer in Alaineda,Californ ' Is
as soon as the bonds can be prepared, which it is estimated will be thirty (30�
day,, front the date of sale.
RiCht of The successful bidder shall have the right, at his option,
Cancellation, to cancel the contrast of -),urahaso if the City shall fail
to execute the bonds and tender the same for delivery within
sixty (60) days from the date of sale thereof, and in such event the successful
b
idder s-mll be entitled to the return of the deposit accompany -Ing his bld.
M
Farre, of Bid, All bids must be unconditional; for net less than all of
the bonds hereby offered for sale; and for not less than
par value thereof and accrued Interest to date of delivery. Such bids, to-
gothor with bidderls check, must be enclosed in a sealed onveloz,,e addressed
to the Council of the City of Alameda and endorsed "Proposal for City of
Alameda 1951 Surer Bonds".
Bid Check: With each bid must be submitted a certified check or
cashier's check for 510,000., drawn on a bank or trust
company transacting business in the State of California, payable to the or -der
or the, City Treasurer of the City of Alameda to secure the City from any lose
resulting from the failure of the bidder to comply 'with the tenris of his bid.
in addition bidders are "requested (but not required) to supply ar estimate of
,he total net Interest cost to the City on the basis of their respective bids,
which shall be considered as informative only and not binding on either the
bidder or the City. Checks of the unsuccessful bidders will be returned by
the City by ica-12 upon, the award of the bonds. No interest will be paid upon
the deposit made by the successful bidder.
Information relative to the financial condition of the City of Alar'.eda
will be furnished to any bidder upon request.
There Is no controversy or litigation pending or threatened concerning
the validity of the above issue, the corporate existence of the City, or the title
all the officers
cers thereof to their respective offices, and the City will furnish to
the viccessful bidder a no -litigation certificate certifying to the foregoing as
of and at the time of the delivery of the bonds.
Dated, April 17, 1951.
J. FCLARK,
Cit -
.7 Clerk of the City of A-larieda
State of California.
Section 10. "'his resolution shall take effect from and after its passage
and approval.,
Passed and Adopted this 17th day of April, 1952, by the following vote:
AYESAYESr Councilner, Anderson, Branscheld, Jones, Sweeney and President
Osbox,n, (5).
NOES
ATTEST:
j. P. CTAPF
,-St -S
t
7RANK P. OC301ZN
iflayor of the City of Alameda,
State of California
C 1, E Eff -S 0, C R T 1 F I CC A T E
I, J. P. CLARK,Clityi Clerk of the CTq'y 02 ALAMEDA, California, do hereby
certify that the foregoing Is a full, true and correct copy of a resolution duly
adopted at a regular meeting of the Council of said City duly and regularly hold
at the regular meeting p.-Pce T � thereof on the 17th day of April, 3911, of which meet -
all of the merjq,3ors of said Council had duo notice and at vrh,".ch a majority
thereof was present; that at said Treating said resolution was Introduced by Coun-
cilman Branscho-'Ld and read in cull, and was thereu-,cr, upon notion of Council-nar.
Brarscheld, seconded by Councilman Szweerey, adopted by the following vote;
A
lff� S: Councilmen Anderson, Branscheid, .Tones, Sweeney and President
Osborn, (5).
YQT�,� None
ABSEI,,IT: ],,',one.
That I have careff-el.ly conpared the sane, with the original minutes of said
meeting on fila and cf record in r.,y office and that said resolution Is dulC? entered
of record in Book — of 1,'Tinutes' at Pages — to , inclusive, and said
resolution is a full, true and correct copy of the or.'-g--!n—a1 resolution adonted at
said meeting and entered in said minutes, That said resolution has not been amended
modified or rescinded since the date of its adoption and the same is now In full.
force and effect.
1N!T1,'ESS ray hand and the seal of said City of Alameda this 10th day of
April, 1951.
J P, CIAT-tv
City Clerk of the City of Alameda,
California
I hereby certify that the foregoing is -. full, true and correct copy of
"Resolution 'Ie. 4348, PROVID111C, FOR THE f3STIANCP Or I'Pl,160,000. TIMNCIPAT,AMUNT
CP 1117, OF AIAYEM� -L951 -SEVIER BONDS, PRFS(,'RI!3I1(7T THE DATE A 73 FORM OF SATD
P
DO. DSI CTHE COUPONS,TC BE ATTACF12D TBERET"), FIXING TTE' RATE OF IN-
TEREST ON SLID BOND3, 61 OD PRESCRTBTIM Tom. IMATN"ii—TE'S, "TETEOP; AUTHORIZING THE
--�'ECIJTIOTT OF 4A7 -D BOYDS -'-' COUPOMI; 21POV1D]M1G 70H THH I-EVY OFA,TaX,TO PAY THE
PRP,"CIPAL AND TNTEREST THIEREOP; AND DTRECTI1,JG N07TCE CP SALE' OF SAID BONDS TO
introduced and adopted by the Council or tho 17th day of April, 1951.
Z�z
Cit'v,'Clerk of tlao City of Alameda