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Ord 0165-PROVIDING FOR INCURRING OF A BONDED INDEBTNESS FOR AND OF THE TOWN OF LOS GATOS IN THE COUNTY OF SANTA CLARA, AND STATE OF CALIFORNIAORDIiT~Y, CE ITO oZ6 . - Al:,, G' DIITAuTCE PRO+TIDIZG FOP. THE 'LTCUKRIiaG. O A BOYTDEa. INDEBTEDTT SS FOR ANTI) OF TUE, T04~TT OF LOS GATO S, IN THE CO L2TTYe OF S AITT A CT _kRA, ST A E OF CALIFoMTIA n\T THE ST-TLr OSIX THGUSAiTD DOLLARS IN GOLD CO 2T'OF 'THE UNITED STATES OF ATVIE14T.CA TO PAf THE OUST 0':' CERTAIN PJ.'LIC i%,TUYuCIPAL Dvj,'PRO`aT,UP2T`1'S FOR SAID TOW AND PROVIDING FOR THE ISSUALTCE OFa BONDS ?OFSAID TOMUMT E_~TTDE_TCIITG SUCH TYD EBTEDNESS.n The Board of Trustees of the 'To,,Tqn of Los Gatos do ordain as f 0110`11s: Section to That said Town of Los Gatos issue its nePotiable bond, the same to be ter. (10) in Yitltllber which shall, be of the sum or denomination of Six Hundred ( 600x00) Dollars each and shall be numbered consecutively from one (1) to ten (10) inclusive, and all of said bonds snail bear interest from their issuance until paid at the rate of five per centi.m. (5%) per annum semi-annual interest, both principal and inter-st of said bonds being payable in Gold Coin of the United States of Amer?ca in the manner followings that is to says One-tenth (1/10) of the whole. amount of said indebtedness shall be paid each and every year at the Tovfn Treasury of said Town on the lst day of l~. together with interest or_ all sums unpaid at such dates provided that the interest of said bonds shall be ?.,aid set.!i-annually so that there shall be a of interest on all sums, then unpaid in each and payment every half year, one of such semi-"annual payments in each year being at the date of payment of the annual installment of the principal of such indebtedness as aforesaid, to 'dIite Q.us.t.ail/1On the lst day oL thereof and the other of such of semi-annual payments in each year being on the lst day 6E_:~ thereof, and provided., further that said interest • shall be evidenced by proper coupons attached to said bonds, a separate coupon being attached to each bond for each semi-annual pay=ment of the interest to become due thereon And the first installment of said bonds, to wit: bond number one shall mature and be payable as aforesaid at the end of one year from the date of issuance; and the second installment of said bonds, to wit: bond number two shall mature and be payable at the and of two years from the date of their issuance; and the third installment of said bonds,.to.wit: bond number three shall mature and be payable at the end of three years from the date of their issuance; and the fourth installm&nt of said bonds, to wit: bond number four shall mature and be payable at the end of four years from the date of their issuance; and the fifth installment of said bonds, to grit: bond number five shall mature and be payable five y=ears from the date of their issuance; and the sixth installment of said bonds, to twit: bond number six s=mall nlatu=^e and be payable at the end. of six years from the date of their issuance; and` the seventh installment of said bonds, to %,-it: bond number sever: shall mature and be payable at the end of seven years from the date of their issuance; and the eight(j instal lnt of said bonds, to °,wit: bond number eight shall mature and be payable at the end of eight years from the date of their issuance;' and the ninth installment of said bonds, to wit: uond number nine shall mature and be payable at the end of nine years from the date of their issuance; and the tenth. instalment of said bonds, to ;wit: bond number ten shall mature and be payable at the end of ten yea-_r-s from the date of their isauance. And the said bonds day o -J, P t, and shall of _ and shall be shall be issued on the first bear date as of said lst day substantially in the followin-g form, to wit: U KITED ST iTES OF A V;ERTCA, STATE OF CALIFORNTI 4, CODIT -Y OF S~TI?TA CI,ARI , TODU OF LOS GATOS,. IMMUCIPAL 1jIU 'L:FhiTT BOND OF THE. TOTJT'i OF LOS GATOS ISSUED FOR Fire apparatus No, $600.00 On the lst day lp , the To.wh of Los Gatos, a municipal corporation, Incorporated under the lwus of the State of California, for value received, hereby promises to pay to the bearer at the Town Treasury of said to-.Am in the Towun of Los Gatos, County of Santa Clara, State of California, the su--t of Six Hundred ($600..00) DoliaTe in Gold Coin of the United States of America, with interest thereon in like Gold Coin from date thereof at the rate of five pe:c century (5j) per annum, payable at said Tmnm Treasury on the lst day © and ak of each year, upon the ing presentation and sur_-render of the proper interest beai'l cou=pons which are hereto affixed. This bond is one of a series of bonds ;ref likd date, tenor and effect issued by the To'vTn of Los Gatos for the purpose of acquiring certain public municipal improvement in and for said tern, to <<,it. The acquisition of fire apparatus and is issued under and in pufsuance of,and in Conformity with an act of the Legislature of the State of California, entitled P94Ln Act Authorizing the incurring of Indebtedness by Cities, Towns and Municipal Corporations for 1junidipal Improvement, and Regulating the Acquisition, Construction or Completion thereof," in effect Feb 1wry 25th, 1901, and the acts of said Legislature amendatory thereof or supplemental thereto. It is hereby certified; asserted and declared that this bond isLssued in pursuance of and in ca.nifonmity with the Constitution and Laws of the State of California, and of the Ordinances of said Tcarn of Los Gatos, and in -pursuance of and in conformity iaith the vote of more thin two-thirds of all the voters voting at a special election duly;; and regularly called and her32d in said. Town as provided in said Act on the day of clay, 19145 notice thereof having been duly given aid published in the manner and for the period required. by la;vv, and said election having in all things been held and conducted according to 1--a, and the result of said election having been canvassed and declared and entered in the manner as required by lanz It is further certified and declared that all the -provisions and requirements of the Constitution and Laws of the State of California, and of the Ordinances or said Town of Los Gatos havPV been duly and regularly and fully c-mirplied with bar the proper officers aft said Town i n the issuance of this bond., and that all- acts and conditions and things required by lave to be done precedent to and in the issuance of said bonds have been done and have teen performed in regular and due form, and in direct accordance u ith the provisions of the law authorizi-n g said bonds; that the total indebtedness of said Tcuvn of Los 'Gatos, includinfr the indebtedness evidenced by this soue-o bonds, doe s not exceed the limit prescribed by the Constitution and Taws of the State of Cali.T'orni _ that the faith and are, it of said Town of Los Gatos and all the property in said City are hereby pledged to the pu'-nctual payy,e:_t of the :principal and intc_est of this bond according- to its tens. This bond ceases to bear interest unless presented at maturity. 1N !N,=,7~ SS NHEiREOF, the said Tuwn of Los Rat os ~~ss has caused this bond to be si=ned l the President of Board of Trustees and the Treasurer of Said Town, and. tc- be countersigned by its Tol=an Clerk and has caused its Torn Clerk to affix thereto the corporate seal of the said Town of Los Gatos. Dated: P-.ES?'LL;I^7..OF 97F BOARD . OF TRUSTEES OF THE T-01I mT OF LOS GATOS (SF.~`!L ) •T~~F,A SL~i-~' R OF .i'~ TO-WIT O:Y LOS GATOS.. Countersigned by (SE.AL ) TO7NIT O2 LOS 'G'A f,057_~ The interest coupons attached to said bonds and evidencing the interest to accrue thereon shall be nurfoered S1"1':L 11 consdcutively and.be substantially in the folicving for=., to wit,_ C oup on INTO X15 z ©O Bond No On the 1st day of A. D. iS_ , the Town of Los Gatos will pay to the bearer hereof at the Town Treasury of said Town in said Town of Los Gatos, County of Santa Clara, State of California, the sure of Fifteen ($15.00) Dollars in Gold Coin of the United States of Amer ca for the semi-annual interest due on that date up0n_5tw above n'u1Ilijered municipal improvement band TATEDI, 1$t, Treasurer of the To-odr. of Los Gatos. And it is further ordered that the Press dent of the Board of Trustees of said Torn, who is the executive of said Town, be and he is hereby authorized to sign each and eves-y one of said bonds as the executive of said Tbwn as aforesaid, and that the Treasurer of said Tou)'n be and he is hereby authorized to countersign each and eve_y one of said bonds of said Tmlm, and that the Tmm Clerk of said Town be and he is hereby =authorized to countersign each and every one of said bonds of~said Town, and he shall affix thereto the corporate seal. of said To.gn to each and every one of said bonds and that said signing and sealing shall con- stitute and be a sufficient and binding execution of each and eve--,T one of said bonds by and on behalf of said Tovan, and that there shall be lithographed or printed upon each and eve_ ,,r one of the coupons attached to each of said bonds a lithographed or hinted fac st_ile signature of the Treasurer of said Torn, and said fao simile lithographed or printed signature of sa:1.6 Treasurer c'taCnr-.d to each of said coupons shall con, stitute and be a sufficient and binding execution of each and every one of said coupons by said Tvvvn. Section 2: Said bonds may be sold by said Board of Trustees at not less than their liar value, at either private or public sale, and rithout further notice. The proceeds of the sale of said bonds or any of thee: shall be placed in the Treasury of said Tc;n to the credit of the funds here-ly designated and to be known as 11undcipal Improvement Fund. Section And i' is furthe- nrdered anr' ordained that there shall be levied and collected each and every year upon all property subject to taxation in said Town o" Taos Gatos a tam sufficient to pay all the interest on said bonded indebtedness as said interest falls due' and st.fficient amount also to pay one-tenth of the whole amount of the principal of said indebtedness each and every year, and sufficient to pay the whole of the 1rineipal and interest of said indebtedness on or before the maturity thereof, and the said board of Trustees hereby ;?Makes provision for the levy and collection of said taxes and for the levy and collection zDf awl sun's that shall or may be necessary to pa.% in full all the interest and principal of said bonded indebtedness as the same shall fall due, and hereLcon contracts and a-gees, represents and undertakes and promises that such levy shall. be grade as aforesaid in case the said bonds shall be issued as aforesaid, a- ad so far as this Board has the power nov; to make said leti"wr it *9 hereby makes the-same. And the said Board of Trustees further ordains that there shall be and is hereby provided :a sinkir_ fund to ~be kept by the Treasurer of said Town, to be designated as the "Sinki n- x'und for the laymen', of the idun i ciyal Iln, ro vex?ent Bonds issued&-. r7lst, of and that the proceeds of the levy above mentioned shall remain in said sinking fund until reT iced for the respective pk~rirente o_° principal and interest to be made upon said bonds, and that when th e respective payments of the principal and interest of said bonds shall fall due the Treasurer of said Town be, and he is hereby authorized and coLmi anded to pay out of the moneys of said sinking fund the said respective amounts thereof ji ien de'rr1,and shall be r,,ade therefor as by law re u.ired, and upon the surrender of the eorYesponding bonds and coupons to the said Treasurer the pjaftds and duty of said Treasurer shall be to cancel said I coupons so paid in2nledia rely after their payment ~hnd it is further ordaineda contracted; represented, promised and agreed that none of the moneys paid into said Sinking fund shall be used for any other purpose than the payment of the principal of said indebtedness and the interest thereon until the vvhole amount of said indebtedness and s interest shall have been fully paid; and that each and every one of the conditions and provisions stated and provided in relation to the said bogids by said Ordinance calling said election shall be complied with. And it is further ordained and ordered that the Treasurer of said. Town transfer forthwith from the general :fund in said Treasury to the said *inking fund for the payment of the said .i UniciPal Improvement Bonds the sum. o-f v~ e a---:C Dollars to day the interest .;Which shall 'fall and become due on said bonds on the lst day of 191 The x~~~ Ate'"" is hereby designated as the weekly newspaper printed and published and circulated in said Tovin of Los Gatos, there being no daily nevvspaper printed, published or circulated therein$ in Which this shall be published, and tY.e Torun Clerk of said tovn is hereby directed to publish this - -gin twice in. the said newspaper. rASS_ D t`3AM ADOPTED by the Board of Trustees of the thereof Town of :cos Gatos at a -replular meetingr,held in the Town of 6,/'t. ?cos Gatos on the 1 day of ?bvyc 91 1' by the f ollo, ing ;rote a -8- A'?"ES. Trustees HOES: Trustees ABS-M,TTaTrustees a ~i e hereby approve the above and fCrevosns OF TY~` TO10T OF LOS GATOS ATTEST: a T'OWIT CLERK OF THE TO~u 1T OF LO;- GATOS. he. ,-hy C -^t*u th t e rejo'n? a trU and Co C C0 ~ of eSo3:ut oil 1ntee t? on seed and c pte b th ruete s c tr: Tower o- s G tos 0, the day or Jui< 1914 CLERK OF THE TOWN OF LOS GATGS. 9-