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RESOLUTION No. 1986 was read and.- adopted as follows: 1.3
<br />RESOLUTION No. 1986
<br />PROVIDING FOR THE ISSUANCE OF $125,000 PRINCIPAL 'AMOUNT OF
<br />"TOWN OF PLEASANTON 1948 SEWER BONDS ;" PRESCR IBING THE DATE
<br />AND FORM OF SAID BONDS AND OF THE COUPONS TO BE.ATTACHED
<br />THERETO; FIXING THE MAXIMUK RATE OF INTEREST ON SAID BONDS;
<br />AND PRESCRIBING THE MATURITIES THEREOF; AUTHORIZING THE FXR-
<br />CUTION OF SAID BONDS AND COUPONS; PROVIDING FOR THE LEVY OF A
<br />TAX TO PAY THE PRINCIPAL AND INTEREST THEREOF; AND, DIRECTING
<br />NOTICE OF SALE OF SAID BONDS TO BE GIVEN.
<br />WHEREAS, all the requirements of law have been complied
<br />with in oalling and holding the special bond election held in
<br />the Town of Pleasanton on Tuesday, March 2, 1948, at which election
<br />the proposition to issue bonds of said city in the principal: sum
<br />of $125,000 for the object and purpose hereinafter stated was
<br />submitted to the voters of said City; and the City Council of:
<br />said city did duly and regalarly canvass the returns of said '
<br />election and did as the result of such canvass determine and
<br />declare, and do hereby certify, that said proposition received
<br />at said special fond election the affirmative vote of more than
<br />two- thirds of all of the voters voting on said proposition- at
<br />said election, and was thereby carried and ,adopted by said eleotion,
<br />and the issuance of said bonds by said city' was duly authorized,
<br />NOW, THEREFORE; BE IT RESOLVED, by the City Council of
<br />the Town o - Pleasanton as fOrlows : _ •
<br />Section 1. That all acts, conditions and things required
<br />by law to exist, happen and be performed precedent to and in the
<br />issuance of said bonds have existed, happened and been performed
<br />in due time, form and manner as required by law, and said Town
<br />.of Pleasanton is now authorized pursuant to each and every
<br />requirement of law to incur indebtedness in the manner and
<br />form as in this resolution provided. -
<br />Section 2. That bonds of the Town of Pleasanton
<br />shall issue to pay the cost of the acquisition, construction
<br />and completion of the municipal improvement of said city set
<br />forth in the following proposition, to wit:
<br />PROPOSITION A: Shall the Town of Pleasanton
<br />(Sewage Treat- incur a bonded indebtedness in the
<br />ment Plant) amount of §125,000 for the acquisition,
<br />construction and completion of the
<br />following municipal improvement, to wit: Sewage treat-
<br />ment plant, including primary and secondary clarifiers,
<br />filters, digester, control building, sludge drying beds,
<br />evaporation ponds, reconstruction of existing facilities,
<br />sewer pipes and pipelines, pumps, machinery, equipment,
<br />lands, easemehts, and, other works, property or struc-
<br />tures necessary or convenient for sewage disposal in
<br />the Town of Pleasanton?
<br />Section 3. That said bonds shall be issued as herein-
<br />after set forth, and shall be sold'in accordance with law at not
<br />less than their par value and accrued interest. Said bonds shall
<br />be $125,000 in aggregate principal amount and shall be known as
<br />"Town of Pleasanton 1948 Sewer Bonds." Said bonds shall be nego-
<br />tiable in form, and of the character known as serial and shall be
<br />125 in number, numbered consecutively from 1 to 125, both inclusive,
<br />of the demonination of §1,000 each. Said bonds shall be dated
<br />June 15, 1948 (which is hereby fixed and determined to be the date
<br />of the issue of such bonds) . All of said bonds shall bear interest
<br />from their date until paid at the rate or rates designated by the
<br />City Council of the Town of Pleasanton at the time of the sale of
<br />said bonds, but not to exceed five (5) per cent. per annum, payable
<br />semi - annually. Such interest shall be evidenced by coupons attached
<br />to each bond, and each of said coupons shall represent six months'
<br />interest on the bond to Which it is attached. Said interest coupons
<br />shall be payable on the 15th day of June and the 15th day of Dec-
<br />ember in each year until and at the respective dates of maturity
<br />of said bonds (the first coupon on each bond representing interest
<br />from June 15, 1948 to December 15, 1968) . Said bonds shall mature
<br />
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