Ord 0216-PROVIDING FOR THE INCURRING OF A BONDED INDEBTNESSESS7 ~T7 7 T
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B01-MED li`JDE711775t- -nrS
F `~~~•r?-c rP'>.tile C_-' LOS v:iJ
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TIU] BOARD OF r.!`_PL rUT_]__TS V,y 111E.-L. t}.: 1'•'! J_'' JiOS G i1 ~JJ do
QrQ.a i1,1 as _QIlo"Fs.
Sect'.- on 1. That pur::'•..1,:.nt to the _ es :lts o.L a s Jecial
"i iui.S ~ fj 1. pal election i~t e y { in t°''.ie Q Y a of .-:Q n3 ~."L+t Q as~ on he ✓ "4.ea
daisy of vuale, 1026, t---,e 1Q1?T'sa of Los Gatos issae its negotiable
d oy.,LC s9 t_'?e saime to be t111Y,ty ( 3v) in nu)nber, ahict'1 s hwll be
of the denoi-.gination of One Thousalad h')1000.00} Dollairs each
a2i s~:ica" 1 be iw.,,,f1~'y'e.CU fs'sJ3i one 4, l) t o thirty 3U f ~'c3Ch 3fQiiCL
aaacl s1ve, ar,d all Qf s id bo~sds small bear interest from
their issuance until paid at the rate o:.~ five _~,er cent.
pew ainum, nayabl=e semi--ainnua11ys both '~ri_auiyJa„~ axid interest
of as=~ boa ds bean pa Tc%b~e in gold coin of the x'11: tec? ~tc14'~c.
of =t.A7. /;,11e Y.?:i1:1 ei f£I_lo'du 7. i//,,.~, 9 t ~J r°~~ l iJ.,c, . (ryOne-tenth ~q/ps 2 :iQy of
'
the o~ t i-s ~.:ideblGw~K <ess yJ~"16;.~..:.i be pCN.i.d ea~ei.E and
every year at t',-,.e =Down, `!'reas,,)ry of said Q1a t1° First day
of julyx ~ o ;et!'1er J ilt er e st on all s~~ _ls unpaid t such
dates. '.'t'he interest, of said bonds shai3. be paid s =-0--, luc.31y,
one of such st: si®aanual IDayments in each year bei"i'iF on the
first day of July axed the other o:' such see i-alnuwl }asr ".eats
in each year being on the first dzay of Januarys Said interest
s ~a1? be evideaacec?.byproper coupons attached to said bonds
separate coupon beiattac~led to each bond for each sey-i°
,z , a ei:i. 7eCQ-: n .e due ier+~..'oal. i Ti
ai:a"itic.,..~ 3Ja~Pill.,$ , of f 3.'1 "1r „er,..Ast $ wQ +7 6a..?hrP..e
said beads shah mature and be -payable- at the e -1d of each year;
the first i.xist al l.- d,at being bonds one (1) to three (3) ile--
clusis e; v'le second :ins l-a l_nent beiiv bo_ids four (4) to
1
sil (6) inc i u sine ; the third instal g went being bonds seven
k7) to nine 9) inclusive; the fourth inst allraeiit being bonds
ten (10) to t:°relve (12) inclusive; the fifth install-went being
bo d's thirteen (13) to fifteen (15) inclusive; the sixth in-
st 11 aei.t being bonds sixteen (lei) to eige teen (18) inclusive;
the seve - t h inst allmeaat being bonds nir et e erg (19) to twenty-
one (21) inclusive; the eighth instalLnent being bonds twenty-
two (22) to t,renty®four (24) inclusive; tae hint -i insta .l?;zent
beinz boards t6:enttiT-five (25) to twenty-sev-an (27) inclusive;
the tenth installment being boards twenty-eight (28) to t -irty
(30) inclusive; -which lest irist all m: ant s1-1all be c o:de due and
day of July, 1936,
kA -
Sayable on the first
Section 2, Said bonds s fall be issued as of the
first day of July, 1926, a.nd shill bear date t_lei.eof and shall
be subst an.t dally in the folio.. iris _ omm, to wit:
IITPY~ITED STATES OF AhMEELIC-41,
' 01,1 .~.I 1...~l il Oli.l'i ,
S y'i('7~^1IR,
9
1'-T 1' Il<IPAL M 2"O .11.:x_11 B01j,D OF 1`11 CT LOS GATOS
1SSUTD for the payr_iea-it of public: municipal improve-
ment s
11-30 m $1000.00
"On the first day of July;.--'-:) the _2o,un of
Los Gatos, a afiunicil)a.l corroo=^~,tion, incorporated
under the laws of uhe State of Cal iforziia, a.or value
received, hereby promises to ;air to the bearer at the
To `2 reasur y of said Tomri i.n the "I'mrae of Los Gat oz,
County of Santa Tara, State of California, the s1mra
of 01:x' T '_1HOUS.Al DOLLARS in gold coin of the United
States of Lmerica, `with irate ,est the neon in like `;old
coin from date hereof at the rate of five per cent,
~ ~r~r
_pe r annum pays o le s ert ,an-I'l zv f ly at said To gJt1 i re as
on the first day of July and 'lanua,ry of each gear
uTI on the oreseaWaation 2.n d surrende2., cif' the _a- oper
interest bearin co.._.? ~ s :'Mic:a are heretco affi>ed®
"This bond is one of series of bonds cf like
date, uenoi,, and effect, issued by t°°e 1loun of .:cos
Gatos for the purpose of acquiring, coaastructiWnag and
c om-pli ct ing certain public munic ip al irmoroveme.--.t s in
aaad for said T "M721-1 alld is i s sued under Saki In pur-
suance of acid in confo-1,Tuity with an Act of the
Leg:~slature of the State of Cali ornia, en1i it led: "An
Act aut-horizin ; the : in;=ring of indebtedness by
Cit;eS, tQa;n>ia:a ;"i3aiiwi~7 & t-i0i2S fC1r i"At11-
icipal improve'r.~e_.tS and 7:e ?laflYi" the acquisition,
c^n.st r,.acti on or completion the_-eof". in effect
2
February 25th, 1901, .;1 2d the acts of, said Leg-
y
i5lture r:;.4:1d to';r thereof or sUi;Ji3mCi2'i a there-
"DU is riere y certified, asserted and de-
clared that this bond 3s issued 322 ,Oursu: lace of
and in conformity --i.ri th the vonstitut? ci aid Laws
of the State of California and of the Ordinances
of the said _Oolmn of Los Gatos a ,"rd in _ourskaa2ce
of and in confor.aity with tie vote of more than
two®tiairds cf all the voters voting at a specie1.
election duly and regularly called and held in
said `'Town, as :m,.°ovide.i in said Act, oln the 29th
day of 0:une, 1926, notice ,thereof having been dummy
given a.,ad published inv eh ma_mer and for the
-period require:11 by law, and said election having
in all things been held and conducted according to
law, and the result of said election having been
given canvassed and declared wxad entered in the
inner as requi -red by la w®
"It is further certified and declared that
all the ?arovis.ons and re-gLuirevaents of tYae Con-
stitution and Laws of the State of Califorr is and
T
of the Grdi~aa ices of said To%win of .cos Gat aB have
been duly and regularly and fully complied with by
the proper officers of said Town in the issuance
of this Borsd aSad tea : all acts and co ad.:a t ions and
things required by laTv to be done ?'lrecedent to arid
irk, issuance of said bands have been done nd .have
been -jerformed in regular aiad due form, and in due
accordance with the ~i-iav3si4ris of the lavi authoriz-
ing said bo-ndsg that 'he total indebtedness of
said Tol.-n of Los Gatos, including he indebted-
ness evidenced by this issue of bonds, does not
exceed the limit prescribed by the r3onst itut ion and
_LaArs of the State of Galifor:ia$ that the faith
and credit of sair, Town of Los Gatos aiid all prop-
erty in said City are hereby pledged to the punct"aa1
payment- of tie --principal and interest of this bond
according to its t 3r.MS a
"This bond ceases to bear interest unless
presented at 1-11atur tys
O T1 ` IT 17 SS the said ri 4 n of Los
Gatos has caused this bond to be signed by the
,Dresident of its Board of T us~ees azid the treasur~
er of said To-mn, and to be countersigned b;- its
lotiwn Clerk and -lias caused its `.Lo,7 'jerk to a`f ix
thereto t'le cor;:)4ra.te seal of the said '1ovwr~ of Los
Gatos.
"Dated, .suly 1, 1926
01 CARD IT
OF rL'Iial r1191`T_:_, (T-31" -1 0_1 "'ATICS
21
Oj.'reasurer of the To-u.'i of Los Gatos
"Counters-1 gned by
e Jean "i2o n of Loss laratos's
m ~ m
Section 3. The interest cou-cons attached to said
bon:_s and evide~,a.cin g the interest to accrue thereon shall be
~-ur.iaered consecutively and shall be substantially in the follaw
iii?' f or-ra,, to wit:
"Coupon Ids ® $25.00 Bond No. 0
"On the first day of A. D. 19the
Town of :Uos Gatos will -.oey to the bearer hereof at,
he Tolan Treasury f o said Town at said T own of Los
Gatos , v(ptAYlt?r of Santa vl~ara, State of Clalifornia,
the sum of v enty=fire Dollars in fold
coin of the United States of ,-erica, for the semi-
annual interest due on that date u.-,)oyi its above
numbered manicipal i=,zprover.lent boy?d
"Dated, July 1, 1926
'i1 °reasurey of the 1oma or Los Gatos"..
Said bonds s1iall each be si,;ned by the President of
the Board of Trustees of said "Tory;-r alad by the Treasurer of said
Toun shall be count.-e,'si ned b the Clerk o Scadd Town, .lho
sha l' ! affix the 1 ovm Sea! to each ci' said bonds
Section 4. This Ordinance shall be published once
in the Los Gatos Fail ltevvs
Passed and adopted at a reguIz,,r mieet in_. of the 3oard
of Trustees cf the To-vn of cos Gatos I-ie on the ~ day o=
'y, 1926, by the follotiying vote:
Trustees
a - 2 / - A 1,- 'a
IYCES, Trustees
4
.AB Z--TL-,-!,T'-T' 1 RUS ERS
President OeNtI-Te and of "rustees of
the v,rn Qs
1 "11 S r::
d
'il'ov,,-,n Clerk of -the of Los G$tos.
a;
0MINANCE NO.
GF -`PROVIDING FOR THE LEVY OF T
The Boas of Trustees of the Town of Los Gatos
BO ORDAIN as follows:
Section 1: For the purpose of paying the
principal and interest of $30,000 Municipal Improvement
Bonds of the Town of Los Gatos, authorized at the special
election held in said Town on the 29th day of dune , 1926,
the Board of Trustees of said Town shall, at the time of
fixing the general tax levy and in the manner for such general
tax levy provided, leery and collect for the fund hereinafter
provided for, annually each year, until such bonds are
paid or until there shall be a sum in the treasury of said
town set apart for that purpose, sufficientto meet all sums
becoming duce for 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 collect-c-
ed, and as collected shall be forthwith paid into the fund
for which the same was levied and collected.
be designated lot
9^t
Such fund shall
fund, and all sums to jbecome due for the principal and
interest on said bonds shall be paid from such fund.
Section 2: This ordinance
orc e in 1
shall be publ i she d
a
T
newspaper published in said Town of Los Gatos, and shall
take effect and be in force immediately.
Passed and adopted at 'a"fe~~sr meeting of the
Board of 'Trustees of the Tovm of Los Gatos held o-O the 20th day of Septe-nlber,
1926
AYES, TRUMER ES H// ° 7,/, DOES, TRUSTEES
- BSE T, T '_L+STEES
:O a APPROVED
ATTEST-
~a n F#ZE~~SII)Et1T`!T/'OF\ TIE BOA F 1fiTVTSTE-ES
OF THE ~Iu F ?SOS Gi; T OS .
P
TO ;N CLERK OF TEE 7--,Y-OF LOS GI T S.