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CC Resolution No. 1052,! ~~' 7. ~~ hESOLUT~fU1J N0. 1~J,~;2 }ZESOLI~:''IOH PF#0'il'IDINC3 FOA THE ISSUANCE OF 31, k ~0 ~ 400 PfiYNCIPAL AMOUNT OF ~'CIZ`Y OF CUPRIt`~.'YF:O 196a r~lUAIxCXPAL IMPROVEMENT HONDS"; IPRF,3CR1~BIfNfl TYi£ DATI: AND ~+0}~ OF SAID B4~NOS AND OF` ThE COUPONS TO BE AT`PACHElJ THERETO; FSXINO T}SE MAllYi~lUM RATE OF YI~T£AFST UPI °AxD BONDS AMID PAE- SCRIBINa THE MA'I'URYTTE3 'Y'}lBREdF; ~ AUTNQR- IxINQ T}lE EIfECUTION OF SAID 80ND5 AND COUPONS; PRO~IDIN(3 FOA T}!E LEVY Ok A TAX TO PAY' THE PAINCIPAL AND I?iTEREST THH}tEOF; AND DIRf:CTINt! 110TICE OF SALE OP SAID 80NU ; 'i 0 F3E QIVEN. W}iEREAS, all the re4,uire~aents o.f laK have been eom- plied s~ith in selling and holding the speal.al municipal band election held in the City of Cupertino (hereinafter somr~times called "the City"), State of Caiifornia~ on October 6,, 1964, at whial~ election caeaeure$ to issue bonds off` the City in the aggregate principal aoaunt of !1,450,000 for the ob~ecte and purposes hereinafter ~atttet! were uubmiti~ed to the voters of the City] and tlse City Counaii of the City did duly and reQu•• larls- canvas~a the returns of said eleation and did, ns a re•- auit of said c~-nvtss. detox~aine and dealers, and do hereby ca+rtlfy, that oeld measures and each thereof raaeived t~tt said eleation the affireuntiv4 viate of more than tMO-thirds of all at' L~ia voters voting on ni~id ®eaaurea, respeatlvely, tt said exeal;ion, and were thereby c~at+riad and adopted by said elec- tion, and the iflaurxr,c~a o.'l said bonds by said City r~aa duly rw-thoriraed; 1 ,,, ,~ :~.. ~ i~, • , ~ ~ ~~ {: ~ 7 NOiJ, THE~FOREe BE IZ` RE5OLVBD by tht: City Couno.li ' o~ the City oi' Cupertino, as follows : .. Secsti.on ;~. The Cite Council has revs®cisd all ,~ . ~r ~-aeedinas heretofore xahen and h~ta tound ae a result og` ' ~r-ch revietr, and does hareby t'1tu1 and dotermine, ~h~.t all '~. sofa, conditions and things required by law to exist, hOppen ,~ ~ bye pertarmrd precedent to and in ~:he issuance of said '. t-anda have cxiated, .happened and been pertotyned in due tixe, topm •~nd aanner 8a requ,ired by law„ and the City is saw autrroriced pursuant to ~seh and every requirement oP laa fco inc~.:r indebtedness in the manner and form as in this reaolu-. t:lou~ provided. Section ~. Bonds of the City in the aggregate principal amount of ~1,450,U00 shall issue to pay the coat of the acqul.aition, conatruetian and completion of the muni-. cipa~l improvements of the City set forth in the following t~vr..d measures, and egch thereof, to wit: MHIISURE A: Shalt the City o1' ~C3'~y~a"~~l) Cupertino incur a bonded indebtedness in the principal amount of =450000 for the acquisition, construction and completion of the following municipal improvement, to wits A City Hall on City owned land try provide facilitia:a for housing municipa3. offices, together with furniture, fixturea~ equipment, landscaping site improvements, parking i'ac~litiea, ee.aements, rights of say and other works, property or atruaturea necessary or con~renient for a City Ha21 !'or the proper adminl.atration of the City government of the City of Cupertino? i .; ~ i~ ~, r ': .,~ r ~ ~ NKASt~ B s :~hal.I the Cite of '~''~"~ea) Ca~tinp inout• a S-r~i indebtedness in the prifloipal. a~a~-st of $1,OOt1,f300 for the faitc-sw ax~].cipal iaprovo- ~mant, to wit; s Aa-~Y.siti~or. at' land far park sit~r-~, .~.aaiA~ sites ror a canrsral park aaaCD mx~hbort~oad parka, and im+pr~t tJdtra~aoP Por park and r®areati puzpases ~ 3'or the Citg of Cu~e~imd? 3e~,~,. laid bonds shall be issued a6 berein-~ after set forth, and ®b~all be void in aCCOrdanet yith lax at not lea-a~ than their par •aaue and aaQruecl interest. laid bonds shall be ~i1.,~1y©,400 in eggreaate prinoipa3 amount ands shall be known as '"City' of Cupe: tino 196q Munittipal Improvement bonds." Said tends rhall be negotiable in fora. and of the chtraater kr~rom as aerio-l~ and shall be nw~bered from 1 aanseeu~ively upYords in order of a-aturity~ oP the denocoinat ion of either x 5 ~ GGO or ~'t.OgO o as d~eter~inerd by the City Council at thr tike of the sale of asirt bonds. Said boncia stall be dated P'.a~rch 30, 19G5 (al-iah its Hereby fixed and determined to be tre date of the issue of such bands). All of said bonds shall t,emr interest From their date until laid at thtr rate or rateu designated by the City Council or the City apt the timer at the sale of acid bonds but noL to exceed six parr cant (5~) per tennumo payable Deoember 3A, 19b~~ for the period from l~rGt- 30, 19d!5 to Oec~emb+~r ,30~ 1g65~ and thereafter nrasiannually. Such interest shall bb evidenoed by aqupono attaahcd to each bonds and eioh of said coupons shall represent six a~anths' in*.ereat (exoept the .1'irat ooupon shish shall represent nine wonths' interest) m» the batxi to ahich St is attached. 5nid inter~ast ooupans s-tutll be payable semiar.~na~b-lly on the 30th clay nt Junta ~-nd r ii ~` •~~ •i .•, ~, a~ w~, ,~c` ~, ~. Y'~. . ~.~` ,~R ~~' , ~. L4 ~- .t w L,~~~ .~;^'~. tb,e 30th far of ntcombrar i~,~ sash yet~• until and at the P~e- t~a~sa~tive mattes of ssattoaxzt+„p of said bonds (~acaept t?ae first a~xtpon srri:eh sizall re~rvit interest i'rom ~larah 90, 1905 ~o ~ DeoermL~ ~?, igb5~ ate alsall b~ payable Deaeaedsr ~Q, 19b5) • ~~t84 bonds shall ®atd,r~e axed be prnyable in aor-aeautiva n~erM i~al orders Pram lo~r~~ t~ ~gtaer, on June ~0 oS' each y+rar~ as fol lass principal Maturity Date y~~ _, ~June~„~_ 30) ~,_ s 20,000 1866 a0,ooo 197 - 1970 X5,000 1871 - 1573 5o,oaa 1g7k - 1875 55,a0o 1876 - 197 8 SO,oao x975 - 198r 65,000 1y81 - 19~? Tp,ooO 1883 - 1y84 T5,000 lg8~a - 196 80,oQO 19s7 - 1988 85,Oa0 1,~Oy - 1980 (u~ll yexra inclusive) ~cth the prin~sipa-1 got and interest on said Conde shall Ce ;.s,3rable in la~rCu3 coney of thr United St~st~aa ta; ,A~oeriea a: the office of the City Trrtsurer of the City, in Cupertin:. ~ Cslifot*n1a, oar. at 6he optiAn of the holder, at the Stn F: ax:cisco Main ©~'?'itse of Hank; of IlmeriCa National 'T~•uat ar,~: ~av~inga Aaaoaiatl.on, in San Francisco, State at' CaliM tornia, the paying Age~G of the City. So long as any of said t~anda are cutatandin~ ate unpaid the City ah~tll maintain a paying aFec,t in said City at Sen Franalaca at Which the prin- aipal of ~.~d the interest an said bonds shall be payable. Sect on q. :~yaih4 bonds and aoupana shall eaCri hie a.ubatazi.ial].y in the ts~i.loxing t'orm, ';he b1r~nD!s to +aa::d tormo to ze filled witt.~ ~rgpropriAte wards or t':tgureo, rely: ~~'J U?SITED 5T~Ti;S QF AMERICA v 3iATE E3~ C'l1LIFORNIA Sants Clara County c~xsr ap co~~RT~r,~o c rraPRa~ ~ ~ P Ctiy'!l~-~S b ) THE CITk bF ClJPERTIl~O, a naunioipal corporation used and esiating under the Constitution and la'sos oP t,~e State of Califortaia~, htereby aeknoMledgRa itself indebted "la~l tar value received proasiaaea to pay to the bearer (or if ~"i~is b©r~.,i be regiateredy to the regiectered holder hereof) on 'z.3t~e ~/.;th day of June, 19+,•, the principal sues of ~,,, THaU3A1~'D DOhLA1~,S (~~,,,,~„~) t~ty~etF.sr with interest thereon at the rate of per +cent ~ x) per arruea until payt,~ent of said princ~pa? sum in ~a~T~; "payable December 30p 196, for the period lror~ Msrch 30, :~~~5 to Decemt~er 30, 1965, arx! thereafter aemiannunlly on they ,~i?th day of Jure and the 30th dny flf December of each year. Z:tril.RSa this bond br; regiaterrrd such intereat~ prior to iaatur- .~ty~ shall be Fayable only on presentation and aurrendrrr of :.!tire pswper interest coupons hereto attaohed ea they rrapee- zi.vely brxaoaae due. Aoth the principal o:l and interest on :.iais bond are payable in la>dful money of Lher United Staten na".' Araeriata at the office of Che City Treasurer of the City. ~ ~Gscpartino, California, ar, at the option ai' the ho7.4er, at Zt~e San !-rancieco Main Office of Bank of Amerie~- NaCional Tt~uet ,sand Savingo Aaar~cia~tion, in San Franoiaco, State of Calafornio~ ~.:~e paying ag~ant of the City . This bond is one of a duly authoriaaed issue of bonds trt' acid City ag8regating an~e Million tour ~iundred Pifty Thouy .astad iDollers (i1,~150,000) Friralpal e>P-ounte a~l'. of iikd tenor date (except for ouch v~riationa, if any as any be ~•e~ ~.lrt~ to dcaignate varying nsuaher$, esaturit~oa or int~ereut ~ ~~ceaa) and Sa iaaueri under acrd pursuant to thr~ Conati.tution ,, ~,A~d etatutua of the State of California, and under and pulr+~uw .xriL to the o:~dinaricea and lrroeeedingo of said Cil~~rr duly adopted email tak+~n and a vote artd Esaenb of more than twu••ths.t•da of alx gaalif:ted electors oP sale f~:tby voting at +a special r31ea- ~tlcsu daly called and held for that purpoee. This band gray bye r~gl~atered in the ~natiner provided ,min .~ and thereafter the pr~An~¢ipal hereof and interest hereon ~t~-aJli be payer-le only to auFch registered owner. Jt is hehaby eex~ki~t:ted, recitQd and duelared tht~S aew'i.l state,, cc~ndttions ancS i;hitgga required by laM to ~rais~t r ~uara and to be perrar~e.d y,:z^eooclent to r-nd in thR iseuanae ~~. ~~ ., ~ ,~. ~ N , ~, ,~ .w ~ ~ , • ~~ ~, oS this bend have existed, Izappened and been performed in due .~ t3a~o, lCnrea and manner ctn required by law. trod that the amount • oi° this 'pond, tagethor frith all other ` indebtedneaa of said City, da~e~a r.~-t exaeect any l~nit prescribed by the Constitutio~~ or ~-ts.tutea gar said State, and that provision has beran teade as ~, rs~uired by the Constitution and stotutae oT snid State Sor them oolleation of an annual taYt suPSiai.ent to pay the prim a~4pa1 of seal. interest on this both as the name baaoae due. '!ma titll S~i.th ana credit at ~oRid City are he~elby pledger! yor the punctual payeent nP tt~e pPl~noipal os and inters®t on this bond. ~~ IN WI~IJESS WHER;~OP~ Mhs City of Cupertino has oaueed ' this bond to be exrrauta~d unde~~ its oftiaial eealp sigeted by- its Mayor ee.rk! its ~reaeaerer, and ~sountersi6ned by its Clerk and has aauoad the interr~st ooupa~na attsvhed hereto to be s~gned by its Trea~eurar, and this bond to be doted the 30th da~r oP Kash, 196. alb y°o~ o e y of"'~ perL n3'o"'""° $r a u:re~ o"~i`e~ y o uper no Cs~at,] Countersigned; L'x'er o ;e 'L'~"~y 'gip r no (Form of Caupan) On the 30th day of the 4:.ty of Cupertino t~il~l~ (unlea;s the ;dithin mentiat;ed • bond be regiaetered) pa;~ tc~ • the beax~ur a,1: thg uft'ino of tn~ Treasttre~~ or Dais Cit~- in Cupertino G:~1ltornia. or eat the ho~tcp~ar' ee option~• at the Xian Pranoisco Nain OfPiaa of 8eu~k of luaeriaa National Truest ~ and se{vinga sesaai~rtion in San Fran aieao, Calil~t>~rnia, the sun set t'orth hereon in 1aNi'ul noinev of the Un~tted Stater of Am~sriaa, being interest them due on its 1964 xtnprovetaer~t Bond, da1:4d Marais ';o~ ~.9iS~. Coupon No. ~,~ ~...~......• x 9.,... No. ~~~ ~CUF',/1964) 6 { Seat n S. fit,e Mayor at the City sing the Treasurer ,..~.... of the City are hereby authorised and directed„ rsspectiveiy~ .as such otPiaerae t+a exeauta each of a~a,id bonds on behait of ~ha City, at~uG tlua Cierk of the City, or one or core of his deputies, !.s hereby authori~ced and directed to countersign sash mP said bonds anti to affix the atticiai se+ai of the City thereto. said !S~-yox• axed Treasurer are her'a~bp eaalz, retxpea~ Lively„ authorised to cause said bon3s to bc! signed by their printed, lithop,~raph~ or engraved taasitaile mignatLrea. S$id Treasurer is :~erefl,, authorised and dlreated to sign sash of the interest eou~~ana by printed, lithographed or engraved taasinile ~cignature. Z'he oerl of the City may be tnanualiy impreeae3 upon said bonds or printed, engraved or otherNiae placed in taasiraile thereon. Such signing, eountersiRning and sealing as herein provided shall be a sttftiaient and binding exeat~tion of said bondm and ~oupona by thc- City, and all ouch signatures, counteraignature~a and acal, ~~xaeptinq tha countersignature at said Clerk or hint deputiQa~ may be printed, lithographed or engraved. In sere any of aueh officers shore signatures or countersignatureB nppaar on the bonds ar aaupons shall sears to be 8uct~ officer before the delivery of rush bonds to the purchaser, »uch signature or aauntersignature shall tteverthelesa bey valid and auffiaient for all purposes the name as the+ugh thtsy had rectreined in office until the deiiv®ry of the hands. Section 6. p'or the purpose of pa~-ing the pi~ineipal of and interest on said bonds, the City Coun~ail of the City shall, at the taste at making tr-+a general t~ ],evy after inourr:ing t-te bondc~, indabtedneas, and atu~ualiy thereafter until the bonds tarrl Rs;id or until there ire a a+urs in the i ,~, ~~, ..~;+. s~ L•reaaury set ,:part for That' purpou~ `. sui'f~uient to meet all , ;, pay~aenf.a of princlps3. atft7i interest on the bonds as they be- ~~;, '~ aot~e due, levy anad collect a tax sufficient to p;~y the inter ~-~f ~: mat on fibs bondr~ e.rrd ss+ac3~ part of the prircl~al Bti t~ili be.- '~'~. ;~~ ~ sobs dust before the procoeds of a tax le~vJ~ed sit tlhe next ~ general tic levy will be available. 3ueh taxes shall be ~' levied and call~ectecll mt~ other City t~uce~ atxl a~aall be in additifln to all ether taytea and shall be uaeB only for pay~- ment of the bonds an4 intmroet thereon. Said taxes as coi.leeted shall be forthwith paid into the Fund far which the acme wet~e levied and collected and which shall be desig- nated "City of Cupertino 1964 Municipal Improve~cent Bond Interest and aedemption Fund", and ail sums to become due '` for the principal of and interest an uaid bands sha~.l be paid Prow auah frsnd. There shall likewise be deposited in said fund any moneys received an account of any premium paid on any of said bands ant interest aearued on any of said Banda Pram their date to the date of delivery and actual paymen5 of the puPChr~ae price thereat. Section Thera are horeby created and estab~ llshed two rt;nda, which shall be kept by the Treasurer of the City, i~ito which shall be dapoeited the proceeds of the ',' sale of ~.~~ 'sonde { er~ccept premium anti ncerued interest rem ceivec+ nn auah vale) , as follorla ; . {a) "pity Hall 19b4 Aond Fund", ay -thich a record shall be kept of the diaburseraent ni' the pracaeds oT the eels of 5450,000 principal amount of said bondari and auah pre+ceede shall be applied aole:ly e;a tl~.e purpose and ob,~eat spt~Cifisd in Measure (A} {City Neill) eat forth in Seatian ~~ of this resoluCionf provided, riowever, t1~9t o~hen said purpase and ;' 8 S ~~ , 1, I ~N 11 w~ ~ P~ ~o .• ~ .~ ~, . Y.4:`~l ~~, ~ ~ .}„ Go~ect have bean t~ccaa~pllerhedo any moneys remj~Antng ih said fund aha11 be tr~ns~Per-rga to the City of Cupertino 19~i4 ~. Wi~tnicip~rl Impx~av~temrC Ho»d lrrtereat a,nd 1~~tdempt~ian Fund ~x,.. ~~,, . ' (providedi Por An Seetiaa 6 hereof') and be used far the Payp ~~`~ meat oF' prinoipaY of a»cX interest on the bonds o4' sai~~ arrttfrora . ~. ~'' iced 9ssue. ~: (b) "Park. Sites 1964 8atui Fund"~ by ahi+ah A reaorc9 ~:' shall tr~ kept of t1m1 ~9le~raeaent o1° the prooeede of the s~tAe ,;~E ~ of ~1y~Q00,000 p~in~i.pa3l amount of said banded anc~t auah pra~ - aeeda shall be epplie® solely to the pulFpuse and ob,~rsat spea- ~. flied in Meaeu: a (13) (Perk Sites;) set forth in 3~aation 2 oP thin rea,olution; provided, however, that when acid purpose and oC3ec;t have been aecacnplished, any manerye reasainAng in ,~ said 1"urui shall be transferred to said City of Cupertino 196q Municipal Improveasent Bond Interest and Rede>xsption Pond and F be used for the pap~gant of principal oC and interest on the bonds of said authorised is3aue. Then all oP said respective purposes entD ob~xots tuesve teen aostoa~pXistscfl end nll ~rrlneipal and interest ou said fonds of avid authorised iaaue heave bosan patid~ ab'r~- bel~- ance of Haney thou re~mainirs~ in the fund pravided for in Szction b hereof' ar i~~s the hrnd provided for in this SesrCion 7 shall he trsnafarrad do the general fund of the City. S, earA~ o~„~. xhe City Glerl~ is c~ireated to caue~e a auf;'icier~t nral~abar oY' b.Is~nk bondu and cot~pona oi' suitable quality to be lit.lrogrsAlfhed, printed ar engraved,, atnd to azatuse the blank. apneas theretrf to be titled in to aassply with tires provisions her~eoi'n acrd to prooure their eaectatio» by the proper officsers~ and to dal.iver them, when so a~xaouke~c!, t~~ the TreasauPer ~,P the City who shall safely keep the saase 9 ~~ ~. ,1,, ., ~ .. ~„ h . ~ a: 4~ i ~ y, ~~ -rr ~ : until they shall tie ao~.d by the said +CS'ty C~xincila Khereupon , ,, ~ ha sYu~ll deliver t-tic~m La the ~~urehac~er ~nx~ purr~haa~~t•ii thereaf~ ``' ~ ~; on rccaipt of the pur~o~-,ase pa~ibe. Said. ~Cayor, Tr~~~aauaror sad City 41erk are Puiri:hr:r authariatd and! diraaated to asa6ce, e~e•• cute ~znd deliver to ~aauh purchaser of s©:~.d boruia a sagnaturn and no-litigatA9xt t;~erLitiCatia in ache i"orau auatomar:lly~ required by purchasers of s~uniaipal bonds, certifying to the g~~Ytul.nenesa +~nd due exncutlon oP said bonds and further Qertify.inE, ~~o ail facts within their kt~oKleclge rre3ativ~r to any litl,ggf;i~~tt which m®y ax• mighs~ a*'°aat the Citq~ said o£fice~~s or guldi -~r-nda„ and acrid Tr~.•asurer ir- further attithoriaed am di~rat:t.ed to enakso . ex,erute and dellaer to ~"nah pu~cuhaser oP maid ~so~-,c'ts a receipt . in the farm C~lstama~~ily 1'equi~~ed by purchaaern o£ municipal bonds, evidencing tt,~ peylmtsnt t~:!' the purahr,t-~e prilae o£ the bonds so purchased, ail-lt~t- arec~ript shs~].1 he eoneluaive evidence that said purchgae prise has been paid and has ba~e~n re:calved by the (:ity. Any {~urahaaer or eubsceq:aant: taker or holder of } any o£ said bonds i~t hex•eby a.uthuri:rrd tc~ rely upon and shall ., be ~usti.Cted in relying upo~~ r~uch si~~natur.~: and no••litigation certifio~-te and upon such Treseiure:•' n re~aeipt Kith ~t•Qapeet to r~ said bonds executed pur$uant t:a t:he autharity of this resolu- ti6n. Sectian, ~. All of said bonds shall ba ofi'er~td far public aa~le by the City CounQAl o£ the City at the titan and i pleas designated in +th~a APfieia~, notiam of sale hereitwaftex• ~~1 set t'orth~ i~nd the City Clark is hez°eby autho.riaed and direatad to aaust- natiae of thQ sRle o£ a~eid bondn to be published onao 1n the CUPF:ATINO COUAIgA~ a newop~~pex• published in the City, and t~uat~ notice what]. bye substanti.al;ly in the L"ol7loaing iCot~, l,a writ t d~ ~. "~ b l1 CI;. ,~ , ~~ .+ bPFICIAL !ibT1CF QK SALE ._..._..~.~..~._.~.V.,.....~.. $1,~5oy000 CI'Pli o~ cup.~R`rlt~o x,464 t~IUNxGz~AI~ I~IFHQVE 1FSNT Bt?~Ln.~ I~-11 •'~Y\\V\YINN ~iy.M4\~~V ws~~ NC)`I'IGF, t3 HIFNEBY CIVEM that staled proposals wall bQ received by ~;~ae c:ity Council or the City of Cupertino, Sant~'i Clara County, State of California, in thcr Board Room, Cupertino Sctcool Distx•lct, 1000 Vista Drive, Cupr~•tino, Santa Glr-ra County, Gali:ornia, on MONDAY, MARCIi 1, 1965, .9 a; the hour or 8:00 o'clock P.M. (P.S.T.) for thy: purchase nr $l,g5q,00C ~,rinaxpal amount or Y,ond:3 of saic! City des- ignated "C1ty or Cupertino ly6u Municipal In~provea~ent ponds", more particulay~ly described below: ISSUE A D $1,W50,040 pz°incipal at~anust of bonds ~~~IU1J! hUG'fbered from 1 eonsecutiveiy upwards in order or maturity. :aid bonds shall be of the denomin ation or $5,000 or $1,000 each as specified in the bid or the su~cesarul t,i+lder, provided that ail of the bonds wuat be of the same denomination. If the bid or the sucaess3rul bicider fails to specify thF denomination of said bands they will a ll be issued in the denar~aination or $5,000 each. bonds oC any denomination will no4: be oonvertible into bonds or an~~ other denomination. DATE: ~,..,. Said Gonda are dated Mar+eh 30, 196x. MA;rURITXI:S; Said bonds mature serially in cnnaecutive numerical order, rrQra Lower to higher, on June 30 in each year, a:s follows: Principal Maturity Date Amount June ,,,~0~ NMlr/Y\~•Y AIIOI•~ a zo,ooo 19u6 ~;o,UOO 1867 - 197a 45,000 1971 - 19'13 5a,o0o 1974 - 19'T5 55,000 1976 - 1978 60,000 1979 - 1980 65„000 1981 - 1982 70,000 1y83 - 19$A 75,000 1985 - 1986 80,000 1y87 - 1988 8;,000 198y - 1990 (all yeera inc.lusiva~ Mithou~: option of prior payment. X T L1~~:ST 1-Saximu~a six par sent C6$~ par annum, pay- ~Cx "'" ab1Q Deaeraber 30, 1965, t°ar the period fr+~m Maroh ~0, 1965 to Oeeember ~0, 1y65, end 1:heremfr,or se+niq~nnu,arlly an June 30 and December 30 in each year. Hic.~;Jara rauat apt~oiry the rata or int~rrsst which the bonds. 1] ~ X41,, ~~ ~ ~~ . ~. ~ ,~ hereby ~tiff+:rrd for aaYe shall bear. Bidders sill be p~artaiticed to bid difrerent ~~a,t-sa oS intiereat and to split raf:es irre-- ay~ective a~f the rvatr~ritii.e~s t~4' anid bonds, e~ca4:pt t:het no bored ~aacy bear more than ~c~na rate of interest ar :Wore than one aou~ pon to eviatenae a.n~' imt,erest payment and that the s~x3mun ilifi`~,rential b®'~~+~~t~as~ tt~e lc~~~eat ar~ci hlgheat aoupnn rates nsa+ed in any bid ahal.7. na-~;: exoaad 1•~l/2yi. Ths int®r-aat rate or rates ,sta,terl in +~eoh. bid ,ewtat be inn riultiples of 1./20 of i~ p+rr anr~+, payable ur at~sreeaid-. ~atsh bond ~sust b+~ar interest frame i.ts date to its fiTted a-at~trlty date at the rate spaaifi~d :i.n the k;id . P~YtT; Both principal and interest are payab~ie in i.Atwful~ 0oney of than United States oP America set the offlae of the City Treasurer of the City, in Cupertino, California, ors at tk~e option of the halde~r, at the San Francisco ~4ain Office of Hank of America National Trust arW Savings Associ- ation, in San Franaiacu„ SSGa:e of Californ:ta, thQ paying agent of the City. ~,~'i'I~~ Coupon bonds Mill be li+tnued by said City. .~..r,,:.,......: ~3 Said bonds will be executed by the manual eigneture of at least nne ofPiaial auL•hor- ised to execute the bonds. Said bonds are registrable o:zly as t~~ both principal and intpreat. Ai'ter he3:ig registered, a bond may be transferra~d only by 2•egistration in the name of the nnH owner. Regiat°.ered bonds are not convertib]te into coupon bonds. PURPO5~ pP Said bonds are authorised by vote of two- ' ., ., '"'"""~"" thirds o: the qualified voters voting at a ~'"~~"" special municipal bond election for the purpose o: authorixl.ng bonds for a City Nall and ~~ark sites for the Ci~y of Cupertino. SEC~URI:Y: Said bonds ai•e general obli~gatio~c of acid City and acid City has power and in obli- gated to levy ad vnZorem tax+~~a for the pey^~ent of acid bonds and the interest thereon upon all property within said City aub~cct t~ taxation b~• said City (except certain intangible pex•eonal prope~•tir, arhich is taxable at limited rates) witho-.+t, li:nitatian of rate or amount. TAX IsXEMFA In the rrvet~t t:,at prior to the delivery of ~~~~ the bonds the income received by pi~ivata holders fro® bonds of the some type and aharaater shall be declared to be taxable u`~der any FederaY inccme tax laws either by the terms of such laws or by ruling of a 1~ederal inaoate tax authot•ity or official which is followed by tl~e Internal Revenue ServioeR or by deaiaion of any Federal court, the suss+tssi"ul bidder mays at his option, prior to the tend~nr of said bonds by the City, be relieved of his abiigation under the contrast to purehsap the bonds and in such case tlhe deposit accoopanying hie bid will be returned. I,~„~, 0~ OPI, ~I,ON: The legal opinl.on of Meaa;ra. Oi•riak, D~-t~3.c~uisL, Nerrir~ton ~ Sutaliffe~ of San Nraneiaco, f~aliPorniec appraving ttie validti.'~y oi• bald bonds, will be furnished ~o the suct~aasful bidclor withaut ahartge. A copy of fhe legal opinion aertaifie~l by the ai'Piaial .i.n Mhoa~a oI'!'ia2 ~;he t-riginai is filed„ r+ill be printed on ae,at+ bond e+ith;:ut c~hargQ T.o the aucaoseful bidder. l ~~ ~~ ~ ~. (+ T. r° t" ~~s eF sA1,E ~;. f ,~,es,~t, 811: T`t~+e bondr~ M1.11 ire awardat~l l:o the highest ~k bl~dar~~ coreidering the 2ntcsretat~ :rate or ~, ~ rage apeelfierd arxd ter pr~i~sm offered o if an'. Thy highest ~, bid Mill be det+art3~r by desdueting the amount ai' tht~ preaniv.m `' bid (if any boas tear taotal ~aount of interemt MhiCh the ~G11.y "` q paiy f~~oa 1uh$ date of sa4.d borods to tlaes:lr could be ra oared t~ a,. respectira eaatturft~r dsta~a~ at the coupgn rate or rates aped- iP, ied in the bid; auk tb-a award aS.ll be wade on the basis oP ~~r. the larest net inte~sst eoat to the City. The puralu~»or sv+at pay accrued interesst !".rca~oa the.-,date of the bonds to the dot+s %~~ of delisery. A11 ir~ta~ut shy-il De wumputed ®n e, 36p-day ' year basis. The coat Hof prin't.ing the bows rriXl be borne ' by the City, ~. . 33 ht o`! Tti+e City Council reserves the x•ight in l li t d t ~ a ec n: Its c ian~ to rejec any an . a e~a~~e . bide and to alive any irregularity or informality in any bid. Pro~apt A~nraa~l: ~'he City Council Mill takt action QMard• i;t~g the bonds or ro~eeting all bids not later trt~:a 24 hours after the expiration of the time herein prerscribed for the receipt of proposals unless such time ref award is waived by the successful bidder. Prompt notice of thr: aua.~d will be given to the successful bidder. Prar+pt I'eliver~r: DeAivery t,f said bonds Mill be stade to the successful bidder at the oi'fice of the CiL; Trpaeurer ire Gtiupertino, California, or at any otter plrmce a.greeab~,e to both the successful bidder and the City, as Boon as the bonds can be prepared, which it is estimated will be within 30 days f;com the date of sale thereof, but net . prior tc the date of tt-ye bonds. }3i ht of Abe successful bidder shall have the right, Lance ation: at tail opt3.on, to c©noel the contract of purchase if the City shall fail to execute t:he Dons and tender the same for delivery althin sixty i60) da~+e fn® the date of Bale ttrereof, and in such event the successful bidder shall be entitled to the return of the dew posit accompanying tail bid. Form of bid: All bide must be for not less than all of tha~ bonds hereby offQred for sale, and for not less than the par value 1r,taereof and taarued ir-terest to date of delivery. Each bid, together with bidder's check, wust be enclosed in a sealed envelope addressed to the City Council of ttie Gityr of Cupertino, California, and endorsed "Proposal for City of Cupertino 1964 Municipal improvement bonds." 81i~i Co, heck: Kith each bid wuet be submitted. a certified check or oashier°e check foL~ X10,000 drawn on a bank or trust casr+pan~y~ transacting business in the stair oP California, payable to the order oP the City Treaatarex of the City oP Cuptrtdrw to seoure the City Provo any lose reault- thg from the fai].ur+r +ca4' the bidder to comply with the tersao of 13 ;; f.~. ~ , . ~, c~ .," t S r '~ his bid. In adc4lti.on, bidderrs t~.~^e a~equemmlted abut not r~equtred) tto mupply an eatisa~te of the total net interest coat to the City on the basis at their respective bids, Nhich shall be ~~on- aidera:d ag intor~upti~ra~ only and not bir~ing on either the bid» der or ~:he Ci~t~r. Ct~elco of all bidders toacept the sucaear~tul ~' bidder) NiYl b4r retvirr~edt by tha Citr by taa.il pra~aptly .foll~~Nd ' itig the sale dlct-e Mir~ve apea9.i'ied, No inta~araet Nill !~e pald upon the depaalt apldie by any bidder. ,, No- it) i, nt mare i® nr.~ aitigation pending eoncarnina tl~a validity of the abatis iarus the eor- porbte eximtefle~s of the: City arc the title at ttNe ot~ic~ara thereof.' to their rttaotive offices, and the City Nill furnish to the auccesefuY bider a no~~litig~ttion c~ertiYieate ee~~tity- ing to the roregoir~ .as of anll at the tiaae of the deli~-ary of the bo~nda. Ottia al tae City has ce~uaed l4n c-Ltielal stste~-ent a e~oent: to be prepared, copies of NhiGh will be tarnished upon request to the City Clark or to Starve i Youngb~~ Russ Building San ~"ranciscc~, Cali- fornia, the City's f'l~ancing conaultan'~s. DATRD; January 18, 1965. L~CB K CIA I L"~y L'Ier o "~'.''~'~"y o por no l4 ., a i ~.A~ '. ~~ ~. '~i~ resolution e~ha-11 take efreot r~ and arta~r i~a p~aa,aa~e and npproval. P1~.S3F~R l~Lt AAt~D this lath day oY' Januar~~ 1g6~R ~J tha ralla4+1~ r-a~; ` AYES t courbcgls~~n ~~~~~A , rf r- an~~-~ ~ ~4i ~ P ~ ~ C,a¢..s~ ~ ~- ~OE3: tl~-~' &~33fiNT s {tom--a-~' !~ '~ G~ l~s'' yor o e y o uper wlna Attest `SEAS~~ _i.. i ~ ~~~ ~ a a c ~ o L par`~'n~ a ~,~ . ~ ~,~.~,i. d: 11,.,,E ~!Y 1 ^~Mi~ k__ _ _ .._ _. __.. ~ i ,~ F;~° CL£AcK'3 CER'1xFICATE ..I I, LAwREIdCE ~{. hAtfPIN, City Clark oi` the City of t~~rtinoE Calitornia~ do hereby certi~'y that the torergoing 1a a toil, trtate a~ correct Copy of a reeoiut4on duly adopted b~ir the CXtq Cour-eil of saicY C~.ty, at a r~~guiar seetittg oi' •+aid City Ccnenc.ii duiy and re~3eriy anc~ xegaiiy t:e].a at tnti uiar areting plaae thereof on the 18th day at Ja~,uary, 19f 5. nt r1:ie~t~ ~eeetin$ all at the me®bers of said City C~oun- -. x;11 had dwe notie• and gt rhich a waMority thereof was present:; tt:At~t4t said seating said resoiution ass introduced by Councii~ sa,~t'~-f-~~ ~„~ atK1 ead in tuAl ~ and was thereupon, _ union aotian or Counci~n , seconded by " Cc~Unoi7.aan ~~ ~-~ ~'at , adoptert by the rt~llowing vota: ,tYktS t Counaiisen l~.a..,-..~, ~ r~.c. ~ ~~T ~,.c.,a~ ~. ~ < <1..~ ~z.C~, ~~~'~~, , ~~-~-~G. ~ ~~ Job."-ENT: t~c+ That I have ceretu~ll,y coopared the sseee with the original aainuttas of aa:d meRtinA on t'ile acid or recUrd in my ortice and that said res~tilutic~n is a fully true and correct copy or they original reaoia~tlan adopted at said meetit~,g end entere~3 in said minutes. Tht-t sgid remoluLioar has not Caen ascended, s~oditia>>i or rescindrd since the date or its adoption and thtt sra+e i+~ now in roll rorae and rtreat. k'iTHESS gay harts acid the sra7. of the City or Cupertinr~ t~.~ia tb~1~ drag or Jan~uery. 1~6Z. CSEAL] ~ ( ~~' r ~- ~-~'~~"~''' a ~~ ~ 1~-k~_t,~-~ Cupertino, Calit'ornia ...ti ~. ~