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HomeMy WebLinkAboutMinutes - August 18, 1965-26® CITY COUNCIL, CITY OF LODI CITY HALL COUNCIL CHAMBERS AUGUST 18, 1965 This regular meeting of the City Council of the City of Lodi was held beginning at 8 p.m. of Wednesday, August 18, 1965, in the City Hall Council Chambers. ROLL CALL Present; Councilmen - BROWN, CULBERTSON, DOW, WALTON and KIRSTEN(Mayor) Absent. Councilmen - None Also present% City Manager Glaves, Administrative - Assistant Peterson, City Attorney Mullen and Planning Director Schroeder. MINUTES On motion of Councilman Brown, Dow second, the minutes of August 4, 1965, were approved as written and mailed. PUBLIC HEARINGS ANNEX Notice thereof having been published in accordance with HUTCHINS law, Mayor Kirsten called for -.public -bearing on the ESTATE intention to annex the Hutchins Estate Addition. There ADDITION were no protests, written or oral. Councilman Dow moved the introduction of Ordinance No, 795 annexing the ORD. NO. 795 Hutchins Estate Addition to the City -of Lodi. The motion INTRODUCZED was seconded by Councilman Walton and carried by unani- mous vote. ANNEX Notice thereof having been published in accordance with LONE OAK law, the Aiayor called for public hearing on the proposed ADDITION annexation of the Lone -Oak Addition. There were no protests, written or oral. Councilman Brown moved the ORD. NO. 796 introduction of Ordinance No. 796 annexing the Lone Oak INTRODUCED Addition to the City. His motion was seconded by Council- man Walton. Councilman Culbertson said that when study of the Cityls street system is made, consideration should be given to.a plan for major streets in this area. The motion carried by unanimous vote. S. STOCKTON ST. Notice thereof having been published in accordance with SETBACK LINE law, Mayor Kirsten called for public hearing on the recommendation of the City Planning Commission to make ORD. NO. 797 the following changes on South Stockton Street between INTRODUCED Vine Street and Kettle --n Lane: 1. Increase the right of way from 71 feet to 80 feet and the curb to curb dimension from 60 to 64 feet; 2. -Increase the building setback on the west side of the street from 41 to 45 feet measured from the center line; and 3. Increase the building setback on the east side of the street from 30 feet to 35 feet measured from the center line. The present ordinance, No. 601, provides for setback lines 351 feet east and west of the center line of Stockton Street between Lodi Avenue and Vine Street and then establishes a jog at Vine Street by making the set-' back between Vine and Kettleman Lane 41 feet west of the center line and 30 feet east of the center line. The changes as proposed by the Planning Commission, and recommended by the Public Works Director, would provide the minimum criteria fora four -lane street as defined in the.Collier-Unruh Local Transportation Development Act and would make South Stockton Street eligible for gas tax funds. - 1 - 261L Minutes of August 18, 1965, continued Mr, G. J. Liebig, Plant Manager of Stokely Van Camp, Inc., Cannery which is located at the southwest corner of Stockton and Tbkay Streets, said his company wished to erect a building on their property at the southwest corner of Vine and Stockton Streets and had requested that the setback ordinance be changed so that the setback line be established as 35k feet each side of the center line south of Vine Street. He said that width was a problem and that if the Cannery was to grow they would need all the footage they could get. He felt also that a jog in a major street such as Stockton Street was not advisable. A 45 -foot setback as recommended by the Planning Commission would impair their plans for new construction. City Manager Glaves read the memorandum of the Director of Public Works to the Planning Director concerning the setback lines, setting forth the design standards for streets in the Select System in order to qualify for funds under the Collier -Unruh Local Trans- portation Development Act. Under this act, the minimum curb -to -curb dimension for a 4 -lane arterial is 64 feet, requiring a minimum right of way width of 80 feet. Mr. Liebig said industry was important to the City and should be considered.- rix. Glaves said the present set- back was established -so that when the street was widened -the City would not have to buy any buildings, the jog being established because of the amount of development on the east side of the street. Councilman Brown sug- gested that the street be improved without a jog. The Council then looked at the aerial map of Stockton Street to determine the amount of development along the street. City Manager Glaves said the'State would not deviate from its standards for the street south of Vine and if the City had to pay for the impxovement'it would mean using around $115,000 from the General Fund. Councilman Walton suggested reducing the sidewalk on each side to 431 feet. Mayor Kirsten said the Company had created the problem requiring -four lanes and that the City could not afford to give up its.gas tax funds. He said he would be willing to.consider leaving Stockton at 71 feet between Vine and Watson and 80 feet south of Watson. Councilman Dow said that when the Cannery made its request the 71 foot width was in effect and therefore it was justifiable to continue that width to Watson Street. Councilman Culbertson suggested that a compromise might be reached:. He said that 11 -foot lanes, particularly on industrial streets, were not sufficient, that 12 -foot lanes should be the standard. He suggested that the present center line be used io establish two 12 -foot lanes on each side by designating 32 feet on each side the line for the street area and the sidewalk area made narrower. Ne -said the present setback on the west side is 30 feet plus 11 feet from the center line (or 41 feet) and his proposal would make it 36 feet. If there was more room in the blocks south of Watson Street the side- walk area could be increased. After further discussion, '- it was moved by Councilman Culbertson that Ordinance No. 797 be introduced amending Ordinance No. 601 and thereby.establishing the setback lineson South Stockton T Street from Vine to. Watson as__36% feet QvV � as Tcde of the pre sen t�ceAep!r"iine�andr�isom vJatson south to Kettleman as 40 feet each side of the present center line. His motion was seconded by Councilman.Walton and carried unanimously. PLANNING Ca-ti1ISSION Mr. Glaves read the following actions taken by the Planning Commission at its meeting of August 9% - 2 - 2($2 Minutes of August 18, 1965, continued 1. Recommended to the San Joaquin County Planning Commission the approval of the requests of Mr. Fred Reisinger at the northwest corner of Lilac and Carolina Streets (Woodbridge) in the I -H Interim Highway zone fors a. A use permit to expand an existing rest home from 6 to 12 patients; and b. A variance to reduce the required thirty-foot setback to eighteen feet.. 2. Recommended "to the San Joaquin County Planning Com- mission the denial without prejudice of the request of Nir. Jacques Bacic for a use permit to establish a nine -hole, pitch -and -putt golf course, club house and retail sales of art objects and antiques at the southwest corner of Almond Drive and Cherokee Lane in an IP -A, Interim Protective Agricultural zone. 3. Approved the continuation for one year of the C -S zoning, Commercial Shopping District, for the Barbera Shopping Center property at the southeast corner of West Lane and Kettleman Lane. 4. Approved the continuation for one year of the C -S zoning, Commercial Shopping District for the Kettle -An (Ford) Shopping Center property at the northwest corner of Poplar Street.and Cherokee Lane. CONMWICATIONS McCARVFR A claim for damages was presented on behalf of Harold CIAIM FOR McCarver, leave to file said late claim having been DAMAGES ordered by the Superior Court of San Joaquin County. On motion of Councilman Culbertson, Walton second, the claim was rejected and referred to Max Elson, the City's Agent of Record, for action, PROJECT A letter was presented from the Sacramento Chapter of HOPE Project Hope requesting the endorsement of the program by the Council. Project Hope is a medical program supported by the people of the United States for the teaching and treating of less'privileged people of other countries and is non-profit and non-political. On motion of Councilman Culbertson, Dow second, the Council endorsed the Project Hope program. DOWNTOWN A letter was 'received from Graffigna and Donald asking MALL that the Council designate.a. name for the mall recently NAND developed on the west side of School Street between Pine and Oak. They suggested the name "Downtown Mall" and RES. NO. 2859 requested installation of a street sign at each end of ADOPTED the mall. Mr. Glaves said that something should be done because of addresses along the mall.' On motion of Councilman Brown, Culbertson second, the City Council adopted Resolution No. 2859 designating the mall as "Downtown Mall" and ordered installation of identifi- cation signs at each end thereof. LOADING ZONE Nis. Glaves said a request had been received from Nir. B. W. 625 N. SACTO Fuller for the establishment of a loading zone in front of Fuller Rentals at 625 North Sacramento Street. The RES. NO. 2849 loading zone would eliminate a parking stall located ADOPTED between two driveways. Because of parking and traffic problems in this area, Mr. Glaves recommended that the request be granted. On motion of Councilman Culbertson, Brown second, the City Council adopted Resolution No. 2849 eliminating a parking stall and establishing a - 3 - 26%:-z Minutes of August 18, 1965, continued loading zone in front of 625 North Sacramento Street. REPORTS OF THE CITY MANAGER CLAIMS Claims in the amount of $225,021.83 were approved on motion of Councilman Dow, Culbertson second. PROPERTY Mr.. Glaves recommended that a resolution be adopted EXCHANGE - authorizing execution of agreement fox exchange of BASIN B-1 property with the Woods School District.. Tile.. -exchange is in connection with the construction of Basin B-1 RES. NO. 2850 adjacent to the new elementary school to be constructed ADOPTED by the School District. On motion of Councilman Dow, Walton second, the City Council adopted Resolution No. 2850 authorizing execution of the agreement. BOND PAYING Mr. Glaves recommended that the City enter into a con - AGENT tract with Bank of America as paying agent for bond service. The City could do it for comparable cost but there is some advantage in having a bank designated as paying agent. On motion of Councilman Dow, Brown second, the City Council approved the contract with Bank of America as paying agent for the bonds, to be issued. AUTHORIZING Mr. Carl Kadie of Stone and Youngberg, the City's finan- ISSUANCE OF tial consultants, presented the Council with copies of 1965 KUNICIPAL information he had prepared on the $5.5 million in IMPROVEMENT municipal improvement. bonds to be issued. He reviewed BONDS the estimated annual bond service costs, an analysis of the re -investment program, and a summary of the finan- RES. NO. 2851 ting plan for the Five Year Capital Improvement Program. ADOPTED He stated that the figures were conservative and felt the gain to.the City would actually be more than shown. The following resolution was introduced on motion of Councilman Dow, and after being read in full was passed and adopted.on motion of Councilman Dow, Walton second. RESOLUTION NO. 2851 PROVIDING FOR THE ISSUANCE OF $7,200,000 PRINCIPAL AMOUNT OF "CITY OF LODI 1965 MUNICIPAL IMPROVEMENT BONDS" AND FOR THE ISSUANCE OF SAID BONDS IN SERIES; PRESCRIBING THE AMOUNT ,.DATE AND FORM OF SERIES A BONDS OF SAID ISSUE AND OF TEE COUPONS TO BE ATTACHED THERETO AND PRESCRIBING THE MATURITIES THEREOF; FIXING THE MAXIMUM RATE OF INTEREST ON THE BONDS OF SAID ISSUE,-. AUTHORIZING THE EXECUTION OF THE BONDS AND COUPONS OF SAID ISSUE; PROVIDING FOR THE LEVY OF A TAX TO PAY THE PRINCIPAL OF AND INTEREST ON THE BONDS OF SAID ISSUE; APID DIRECTING NOTICE OF SALE OF SAID SERIES A BONDS TO BE GIVEN....- WHEREAS, all the requirements of law have been complied with in calling and holding the special municipal.bond election held -in the City of Lodi (herein called the "City") on June 8, 1965,_ at which.election measures to issue bonds of the City in the principal amount of $7,'200,000 for the objects and purposes hereinafter statedwere submitted to.the voters of the City; and the City Council of the City did duly and regu- larly canvass the returns of said special municipal bond election and did by said canvass determine and declare,.,and does hereby certify, that each of said measures received at said special municipal bond election the affirmative vote of more than two-thirds of all of the voters voting on each of said measures at said election, and each of said measures was thereby carried and adopted by said election, and the issuance of said bonds by the City for the purposes,set forth in each of said measures was duly authorized; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lodi, as follows: - 4 - 264 Winutes of August 18, 1965, continued Section 1. (a) Unless the context otherwise requires, the terms defined in this Section 1(a) shall for all purposes of this resolution have the meanings herein specified: Bonds The term "Bonds" shall mean the "City of Lodi 1965 Municipal Improvement Bonds." City The term "City" shall mean the City of Lodi. Clerk The term "Clerk" shall mean the City Clerk of the City. Council The term "Council" shall mean the City Council of the City. Manor The term 174ayor" shall mean the Mayor of the City. Treasurer The term "Treasurer" shall mean the Treasurer of the City. (b) The Council has reviewed all proceedings heretofore taken and has found as a result of such review and does hereby determine that all acts, conditions and things required by law to happen, exist and be per- formed precedent to and in the issuance of the Bonds have happened, existed and been performed in due time, form and manner as required by law, and the City is now authorized pursuant to each and every requirement of law to incur indebtedness in the manner and form as in this resolution provided. Section 2. Bonds of the City shall issue to pay the cost of the acquisition, construction and completion of the municipal improvements of the City set forth in the following measures, to wit: NEASUPE (A); Shall the City of Lodi incur a bonded indebtedness (Sewer System in the principal amount of $4,215,000 for the Improvements) acquisition, construction and completion of the following municipal improvement, to wit: Sewer system improvements including acquisition of land for treatment plant site, treatment plant facilities for sewage and industrial waste, outfall line, collection mains, pipes and connections;. easements and rights of way; and other works, property or struc- tures necessary or convenient for sewer system improvements' for the City of Lodi? MBASERE (B): Shall the City of Lodi incur a bonded indebtedness (Public Safety in the principal amount of $1,145,000 for the Building) acquisition, construction and completion of the following municipal improvement, to wit: A new public safety building, including facilities for central fire station, Justice Court, police headquarters and jail, and civil disaster emergency operation center, together with landscaping and other site developments and off-street public parking facilities; lands, easements and rights of way; and other works, property or structures necessary or convenient for a new public safety building for the City of Lodi? - 5 - 265 Minutes of August 18, 1965, continued MEASURE (C): Shall the City of Lodi incur a bonded indebtedness (Storm Drainage in the principal amount of $1,840,000 for the improvements) acquisition, construction and completion of the following municipal improvement, to wit: Storm drainage improvements, including acquisition of lands for drainage basins, construction of drainage basins (which will be used inci- dentally for park and playground purposes), inflow and outflow struc- tures, dry wells, filter caps, piping and pumps, together with land- scaping and fencing; easements and rights of way; and other works, property or structures necessary or convenient for storm drainage improvements fox the City of Lodi? Section 3. The Bonds shall be issued in whole or in part as herein- after set forth, and shall be sold in accordance with law at not less than their par value and accrued interest. The Bonds shall be $7,200,000 in aggregate principal amount and shall be known as "City of Lodi 1965 Municipal Improvement Bonds." The Bonds shall be divided into series. $5,500,000 principal amount of the Bonds shall constitute "Series A" and the remaining $1,700,000 principal amount of the Bonds may be divided into one or more series as the Council shall determine at the time of the issuance and sale of all or any part of the remaining Bonds. All the Bonds of each series shall bear interest from their date until paid at the rate, or rates, designated by the Council at the time of the sale thereof, but not to exceed six (6) per cent per annum. Said interest on each series of the Bonds shall be payable semiannually or annually the first year and thereafter semiannually as determined by the Council at the.time of issuance and sale of such series of the Bonds. Such interest on the coupon Bonds shall be evidenced by coupons attached to each coupon Bond, and each of said coupons shall represent six months' interest (except the first coupon on Bonds as to which interest is payable annually the first year, which shall represent twelve months' interest) on the Bond to which it is attached. The Series F Bonds may be issued as coupon Bonds in the denomination of $5;000, registrable only as to principal, or as fully registered Bonds without coupons in the denomination of $5,000 or any multiple thereof. The coupon Series A Bonds shall be dated October 1, 1965, shall be numbered Al to A1100, inclusive, shall mature in consecutive numerical order from lower to,higher and shall bear interest.from October 1, 1965. The interest coupons attached to the coupon Series A Bonds shall be numbered in consecutive numerical order in the order of their eespective maturities, and each such coupon shall represent six months* interest on the Series A Bond to which it is attached, except that the first coupon shall represent interest from October 1, 1965 to October 1, 1966. Payment of interest on the coupon Series A Bonds shall be made only upon presen- tation and surrender of the coupons representing such interest as the same respective fall due. The fully registered Series A Bonds shall be dated as of the date of authentication by the registration agent except that fully registered Series A Bonds issued upon exchanges and transfers of fully registered -Series A Bonds and upon exchanges of coupon Series A Bonds for fully registered Series A Bonds shall be dated so that no gain or loss of interest will result from such exchange or transfer. Each fully registered Series A Bond shall bear interest from the interest payment date next preceding the date thereof unless it is dated as of an interest payment date, in which event it shall bear interest from the date thereof, or unless it is dated prior to October 1, 1965, in which event it shall bear interest from October 1, 1965. Interest on fully registered Series A Bonds shall be paid by check or draft mailed to the registered owner at his address as it appears on the books of registration kept by the regis- tration agent pursuant to section 6 of this resolution.. The Series A Bonds shall mature and be payable in consecutive numerical order, from lower to higher, on October 1 in each of the years, as follows: - 6 - 266 Minutes of August 18, 1965, continued Principal Maturity Amount Date $105,000 1966 110,000 1967 115,000 1968 120,000 1969 125,000 1970 125,000 1971 130,000 1972 135,000 1973 140,000 1974 145,000 1975 150,000 1976 155,000 1977 160,000 1978 155,000 1979 175,000 1980 180,000 1981 185,000 1982 190,000 1983 200,000" 1984 205,000 1985 210,000 1986 220,000 1937 225,000 1988 2.35,000 1989 2..15,000 1990 250,000 1991 260,000 1992 270,000 1993 280,000 1994 290,000 1995 Both the principal of and interest on the Series A Bonds shall be payable in lawful money of the United State of America at the San Francisco Nain Office of Bank of America National Trust and Savings Association, the Paying Agent of the City in San Francisco, California, or, at holderis option, at the principal office of First National City Bank, the Paying Agent of the City in New York, New York, or at the principal office of the First National. Bank of Chicago, the Paying Agent of the City in Chicago, Illinois. The City hereby covenants and agrees, for the direct benefit of the holders of all the Bonds, that so long as any Bonds shall be outstanding it will maintain Paying Agents in San Francisco, California, New York, New York, and in Chicago, Illinois. - Series A Bonds maturing by their terms on or prior to October 1, 1987, shall not be subject to call or redemption prior to their fixed maturity dates. Series A Bonds maturing by their terms on and after October 1, 1988, shall be subject to call and redemption at the,option of the City, as a whole, or in part in inverse numerical order from higher to lower, on October 1, 1981 (but not prior thereto) and on any interest payment date thereafter prior to their fixed maturity date or dates at the princi- pal amount thereof and accrued interest thereon to date of redemption, together with a'premium of 1/4 of 1% of such principal amount for each whole year and for any remaining fraction of a.year from the date fixed for redemption to the fixed maturity date of the Series A Bonds so called for redemption. Notice of such redemption shall be given by publication of such notice once a week for two (2) successive calendar weeks in a newspaper of general circulation or a financial journal printed and pub- lished in San Francisco, California, the first publication of which shall be at least thirty (30) days but not more than sixty (60) days prior to the date fixed for such redemption. After the date fixed for such redemption, if the City shall have duly published notice of such redemp- tion and shall have provided funds for the payment of principal of and interest on the Series A Bonds so called for redemption, together with the premium then due thereon, interest on such Leries A Bonds shall thereafter cease. MAM `?61 Minutes of August 18, 1965, continued Section 4. (a) The coupon Series A Bonds and the coupons attached thereto shall each be substantially in the following form, the blanks in said forms to be filled with appropriate words or figures, namely! (Form of coupon Series A Bond) 0411 D STATE OF F.tQE.RICA STATE OF CALIFORNIA San Joaquin County CITY OF LODI 1965 MMICIPAL IMPROVMMENT BOND SERIES A No. A $5,000 The CITY OF LODI, a municipal corporation organized and existing under the Constitution and laws of the State of California, hereby acknow- ledges itself indebted and for value received promises to pay to the bearer (or if this Bond be registered as to principal, to the registered holder hereof), on the first day of October, lg_, (subject to any right of prior redemption hereinafter reserved) the principal sum of FIVE THOUSAND DOLLARS ($5,000) together with interest thereon at the rate of (_) per cent per annum until payment of said principal sum in full, payable on October 1, 1966, and semiannually thereafter on the first day of April and the first day of October of each year. Such interest, prior to maturity, shall be payable only on presentation and surrender of the proper interest coupons hereto attached as they respectively become due. Both the principal of and interest on this Bond are payable in lawful money of the United States of America at the San Francisco Main Office of Bank of America National Turst and Savings Association, San Francisco, California, or, at holder's option, at the principal office at First National City Bank in New York, New York, or at the principal office of The First National Bank of Chicago in Illinois. This Bond is one of a duly authorized issue of Bonds of said City aggregating Seven Million Two Hundred Thousand Dollars ($7,200,000) in principal amount, all of like tenor (except for such variations, if any, as may be required to designate varying series, dates, numbers, maturities, interest rates, denominations or redemption provisions) and is one of the Bonds of Series A of said authorized issue and is issued under and pur- suant 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 vote 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. The Bonds of Series A are issuable as coupon Bonds in the denomi- nation of $5,000, registrable only as to principal, and as registered Bonds without coupons in denominations of $5,000 or any multiple of $5,000. The coupon Bonds and the registered Bonds without coupons (of the same series, interest rates and maturities) are interchangeable upon pre- sentation for such purpose by the holder or registered owner at the office of the Paying Agent of the City in San Francisco, California, and upon payment of charges and otherwise as provided in the Resolution of the City Council authorizing their issuance. Bonds maturing by their terms on or prior to October 1, 1987, are not subject to call or redemption prior to their fixed maturity dates. Bonds maturing by their terms on and after October 1, 1988, are subject to call and redemption, at the option of the City, as a whole, or in part in inverse numerical order from higher to lower, on October 1, 1981 (but not prior thereto), and on any interest payment date thereafter prior to their fixed maturity date or dates at the principal amount thereof and accrued interest thereon to date of redemption, together with a premium of 1/4 of 1a of such principal amount for each whole year and for any remaining fraction of a year from the date fixed for redemption to the - 8 - 26 - Minutes of August 18, 2955, continued fixed maturity date of the bonds so called fox redemption. Notice of such redemption shall be given by publication of such notice once a wee:; for two (2) successive calendar weeks in a newspaper of general circu- lation or a financial journal printed and published in San Francisco, California, the first publication of which shall be at least thirty (30) days but not more than sixty (60) days prior to the date fixed for suca redemption. After the date fixed for such redemption, if the City shall have duly published notice of such redemption and shall have provided funds for the payment of principal of and interest on the bonds so called for redemption, together with the premium then due thereon, interest on such bonds shall thereafter cease. It is hereby certified, recited and declared that all acts, con- ditions and things required by law to exist, happen and to be performed precedent to and in the issuance of this Bond have existed, happened and been performed in due time, form and manner as required by law, and that the amount of this Bond, together with all other indebtedness of said City, does not exceed any limit prescribed by the Constitution or statutes of said State, 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 pay the principal of and interest on this Bond as the same become due. The full faith and credit of said City are hereby pledged for the punctual payment of the principal of and interest on this Bond. IFI VIITId3SS 'IM OF, the City of Lodi has caused this Bond to be executed under its official seal, signed by its Wayor and its Treasurer, and countersigned by its City Clerk, and has caused the interest coupons attached hereto to be signed by its Treasurer, and this Bond to be -dated the first day of October, 1965. Countersigned: City Clerk of the City of Lodi (SEAL) Mayor of the City of Lodi Treasurer of the City of.Lodi (Form of Coupon) The CITY OF LOCI on the first day of vrill (subject to any right of prior redemp- tion reserved in the bond hereafter mentioned to which this coupon appertains) pay to the bearer at the San Francisco [Main Office of Bank of America N.T.&S.A., in San Francisco, Cal., or, at holder2s option, at the princi- pal office of First National City Bank in Ilen York, A. Y., or at the principal office of the First National Bank of Chicago in Chicago, Ill., the sum set forth hereon in lawful money of the United States of America, being interest then due on its 1965 iiunicipal Improvement Bond, Series A. dated October 1, 1965. Treasurer of the City of Lodi - 9 - uo. A 269 Minutes of August 18, 1965, continued (Form of Registration Endorsement on Coupon Bonds) This Bond may be registered as to principal in the Bond Register of Bank of America National Trust and Savings Association at its San Francisco Main Office in San Francisco, California, as Paying Agent (or by such other Paying Agent as may be legally appointed by the City in San Francisco, California), notation of such registry to be made hereon by such Paying Agent, and this Bond may thereafter be transferred on said Bond Register only upon a written assignment of the registered owner or his attorney, duly acknowledged or proved, such transfer to be endorsed hereon by the Paying Agent. The principal of this Bond, if registered, shall be payable only to the registered owner or his legal representative. Notwithstanding the registration of this Bond, the coupons shall remain payable to bearer and shall continue to be transferable by delivery. NOTE: There must be no writing in the space below except by the San Francisco Paying Agent. Date of Name of Address of Signature of Registry Registered Owner Registered Owner Paying Agent (b)The fully registered Series F. Bonds shall be substantially in the following form, the blanks being suitably filled in: (Form of Fully Registered Series A Bond) UNITED STATES OF AI iRRI CF_ STATS OF CALIFOR1111, San Joaquin County CITY OF LODI 1965 MMICIPAL INPROVc1,211T BOND SERIES A No. AR . The CITY OF LODI, a municipal corporation organized and existing under the Constitution and laws of the State of California, hereby acknowledges itself indebted and for value received promises to pay to or registered assigns, on the first day of October, 19 , (subject to any right of prior redemption hereinafter reserved) the principal sum of THOUSAM DOLLA 3 ($_,000) and to pay interest on such principal sum, from the interest payment date next preceding the date of registration of this Bond (unless this Bond is registered on an interest payment date, in which event it shall bear interest from the date of registration, or unless this Bond is registered prior to the first interest payment date, in which event it shall bear interest from October 1, 1965), at the rate of per cent ( �) per annum, payable on October 1, 1963 and semiannually there- after on the first day of April and the first day of October in each year, until payment of such principal sum in full. Both the principal of - 10 - 271) i:inutes of hugust 18, 1:55, co::tinued and interest on this Bond are payable in lawful raoney of the United States of ;_merica at the San Francisco :•iain Office of Bank of ;.mericz. National Trust and Savings Association in :,an Francisco, California. Ibis Bond is one of a duly authorized issue of Bonds of said City aggregating 3even Million Two Hundred Thousand Dollars ($7,200,000) in principal amount, all of like tenor (except for such variations, if any, as may be requires: to designate varying series, dates, numbers, maturities, interest rates, denomination or redemption provisions) and is one of t;ze Bonds of Series ^_ of said authorized issue and is issued under end 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 vote 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. The Bonds of Series F. are issuable as coupon Bonds in the denomi- nation of $5,000, registrable only as to principal, and as registered Bonds without coupons in the denominations of $5,000 or'any multiple of $5,000. The coupon Bonds and the registered Bonds without coupons (of the same series, interest rates.and maturities) are interchangeable upon presentation for such purpose by the holder or registered owner at the office of the Paying Agent of the City in the City and County of San Francisco, State of California, and upon payment of charges and otherwise as provided in the Resolution of the City Council authorizing their issuance. Bonds maturing by their terms on or prior to October 1, 1987, are not subject to call or redemption prior to their fixed maturity dates. Bonds maturing by their terms on and after October 1, 1988, are subject to call and redemption, at the option of the City, as a whole, or in part in inverse numerical order from higher to lower, on October 1, 1961 (but not prior thereto), and on any interest payment date thereafter prior to their fixed maturity date or dates at the principal amount thereof and accrued interest thereon to date of redemption, together with a premium of 1/4 of L1 of such principal amount for each whole year and for any remaining fraction of a year from the date fixed fox redemption to the fixed maturity date of the bonds so called for redemption. Notice of such redemption shall be given by publication of such notice once a week for two (2) successive calendar weeks in a newspaper of general circulation or a financial journal printed and published in San Francisco, California, the first publication of which shall be at least thirty (30) days but not more than sixty (60) days prior to the date fixed for such redemption. After the date fixed for such redemption, if the City shall have duly published notice of such redemption and shall have provided funds for the payment of principal of and interest on the bonds so called for redemption, together with the premium then due thereon, interest on such bonds shall thereafter cease. It is hereby certified, recited and declared that all acts, con- ditions and things required by law to exist, happen and to be performed. precedent to and in the issuance of this Bond have existed, happened and been performed in due time, form and manner as required by law, and that the amount of this Bond, together with all other indebtedness.of said City, does not exceed any limit prescribed by the Constitution or statutes of said State, 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 pay the principal of and interest on this Bond as.the- same become due. The full faith and credit of said City are hereby pledged for the punctual payment of the principal of and interest on this Bond. This Bond shall not be entitled to any benefit under the Resolution of the City Council authorizing its issuance, or be valid or become effective for any purpose, until the certificate of registration hereon endorsed shall have been signed by the Paying ;.gent under said Resolution. 271 Minutes of August 18, 1965, continued IN WITiESS 14MEOF, the City of Lodi has caused this Bond to be executed under its official seal, signed by its Mayor and its Treasurer, and countersigned by its City Clerk, and has caused the interest coupons attached hereto to be signed by its Treasurer, and this Bond to be dated j Mayor of the City of Lodi (SEAL) . Treasurer of the City of Lodi Countersigned: City Clerk of the City of Lodi (c) The certificate of registration, coupon bond number endorse- ment and form of assignment endorsed upon the fully registered Series P Bonds shall be substantially in the following forms: (Form of Certificate of Registration)_ This Bond has been duly registered as of this day of 19 , in the Registration Book of the undersigned Paying Agent. Sar. Francisco Main Office of BANK OF AMCRICA NATIONAL TRUST AND SAVINGS ASSOCIATION, Paying Agent By Authorized Officer (Form of Coupon Bond Number Endorsement) Notice: No writing belovr except bX the Paving Aclent. This Registered Bond is issued in lieu of or in exchange for Coupon Bond (s) of this series, interest rate and -maturity, numbered in tie denomination of $ each not contemporaneously outstanding aggregating the face value hereof; and Coupon Bonds) of this series and of the same interest rate and maturity aggregating the face value hereof (and bearing the above serial number s) which has (have) been reserved fox such Coupon Bond(s)) will be Issued in exchange for this Registered Bond and upon surrender and cancellation thereof and upon payment of charges, all as provided in the within -mentioned Resolution. (Form of Assignment) For value received _ hereby sell, assign and transfer unto the within -mentioned Registered Bond and hereby irrevocably constitute and appoint attorney, to transfer the same on the books.of the Paying Agent with full power of substitution in the premises. Dated NOTE: The signature to this Assignment must correspond with the name as written on the face of the within Registered Bond in every particular, without alteration or enlargement or any change whatsoever. - 12 - 27---f?2 "Minutes of August 18, 1565, continued Section 5. The "Mayor and the Treasurer are hereby authorized and directed, respectively, as such officers, to execute each of the Bonds on behalf of the City, and the Clerk, or one or more of his deputies, is hereby authorized and directed to countersign each of the Bonds and to affix the official seal of the City thereto. Such seal may be printed, engraved, lithographed or otherwise placed by facsimile thereon. The Wayor and Treasurer are hereby each, respectively, authorized to cause the Bonds to be signed by printed, lithographed ox engraved facsimile signature. The treasurer is hereby authorized and directed to sign each of the interest coupons by printed, lithographed or engraved facsimile signature. Such signing, countersigning and sealing as herein provided shall be a sufficient and binding execution of the Bonds and coupons by the City, and all such signatures and countersignatures, excepting that of the Clerk or his deputies, may be printed, lithographed or engraved. In case any of such officers whose signature or countersignature appears on the Bonds or coupons shall cease to be such officer before the delivery of the Bonds to the purchaser, such signature or'countersignature shall nevertheless be valid and sufficient for all purposes the same as though he had remained in office until the delivery of the Bonds. Bonds in fully registered form may be executed by the facsimile signatures of the "Mayor and Treasurer in office as of the date of the coupon Bonds, irrespective of the date of such registered Bonds or of their registration, and by the manual signature of the City Clerk, or any Deputy City Clerk, in office on the date of registration of any fully registered Bonds. Section 6. The City will keep at the San Francisco blain Office of the Paying Agent in the City and County of San Francisco, State of California, at all times while any of the Bonds shall be outstanding and unpaid, books fox -the registration and transfer of the Bonds. The owner of any coupon Bond may present such coupon Bond at said office of the Paying Agent for registration as to principal only and the Paying Agent will, under such reasonable regulations as (with the approval of the City) it may prescribe from time to time, register, or cause to be registered, in the name of the bearer or his nominee, the ownership, as to principal only, of any coupon Bond so presented, such registration being noted on the Bond. After such registration and notation, no transfer of any such coupon Bond registered otherwise than as to bearer shall be valid unless evidenced by a written instrument of transfer, in form satisfactory to the Paying Agent, duly executed by the registered owner in person or by his duly authorized agent; but any such coupon Bond so registered may be discharged from registration, and transferability by delivery be restored, by a like transfer to bearer similarly registered and noted, and after such transfer to bearer such coupon Bond shall be a bearer Bond. Any such coupon Bond containing provisions for registration may again, from time to time, in like manner, be registered as to principal only, or be transferred to bearer. Notwithstanding such registration as to principal, the coupons appertaining to such Bonds shall remain negotiable and may be transferred by delivery. Any fully registered Bond containing provisions for transfer may be transferred pursuant to its provisions at said office of the Paying Agent in San Francisco, California, by surrender of such Bond•for cancellation, accompanied by a written instrument of Transfer in form satisfactory to the Paying P.gent, duly executed by the registered owner, in person or by his duly authorized agent, and thereupon the City will issue or cause to be issued, and the Paying Agent will register and deliver at its San Francisco Main Office in the name of the transferee or transferees, a new fully registered Bond of the same series, respectively, and of like form and maturities and of like aggregate principal amount, dated so that no gain or loss of interest shall result from such transfer, to.the.extent of the -denominations authorized in respect of any such fully registered Bond by the terms of this Resolution. One such fully registered Bond may be transferred for several such fully registered Bonds of the same series and interest rates and for a like aggregate principal amount and maturities, and several such fully registered Bonds may be transferred for one or several new fully registered Bonds of the same series and interest rates and for a like aggregate principal amount and maturities. The bearer of any coupon Bond which at the time is not registered as to principal or is registered to bearer, and the registered owner of any - 13 - 273 Minutes of August 18, 1965, continued coupon Bond registered as to principal or the registered owner of any fully registexed Bond may at any time, provided such Bonds shall not have been called for redemption, surrender the same for exchange at the San Francisco Main Office of the Paying Agent, with, in the case of coupon Bonds, all unmatured coupons attached, and, in the case of fully. registered Bonds or coupon Bonds registered as to principal, with instru- ments of transfer satisfactory to the Paying Agent, and shall be entitled to receive in exchange therefor an equal aggregate principal amount of Bonds of the same series, interest rate and maturity, respectively, of any one or more of the forms, the issue of which has been provided for, and the City will cause to be executed and delivered at the San Francisco Main Office of the Paying Agent the Bonds necessary to make such exchange. In every case of an exchange of coupon Bonds for fully registered Bonds, the surrendered coupon Bonds and coupons, if any, shall be held in safe- keeping by the Paying Agent, and may be reissued by the Paying Agent upon the surrender of the fully registered Bond or Bonds for which such coupon Bonds had been exchanged, or in lieu of which such fully registered Bonds had been issued. Upon the issue of any fully registered Bond of any particular series, a serial number of numbers covering coupon Bonds of the same series, interest rate and maturity, respectively, and of an equal aggregate principal amount, shall be reserved. The serial number of numbers so reserved shall be endorsed on such registered Bond. Whenever fully registered Bonds of any series, with proper instru- ments of transfer, shall be surrendered to the Paying Agent for exchange for coupon Bonds, tine City will cause to be executed and delivered at the San Francisco Main Office of the Paying Agent in exchange a like princi- pal amount of coupon Bonds of the same series, interest rate and maturity, respectively, in bearer form with the same serial number or numbers so reserved upon the issue of the fully registered Bond or Bonds so surren- dered, -bearing coupons so that no gain or loss of inteiest shall result from such exchange, which may be the same coupon Bonds originally exchanged for, or reserved for, such fully registered Bonds. The holders of Bonds, whether issued or then outstanding in coupon form or in fully registered form, shall be entitled to any exchange herein provided for, whether for coupon Bonds or fully registered Bonds, free of any costs or charges, other than any tax or governmental charge that may be imposed in connection with such exchange or the cost of reprinting of coupon Bonds if such reprinting becomes necessary for any reason in order to reissue such coupon Bonds. Except as above provided, the City will not require payment of any sum for each new Bond issued upon an exchange. The San Francisco Paying Agent shall keep in its office a Registra. tion Book which shall at all times show what Bonds are registered and the names and addresses of the registered owners, respectively. The addresses appearing in the Registration Book shall be deemed to be for ali--purposes the addresses of the registered owners. The Paying Agent shall pay interest to the owners of any fully registered Bond by check mailed to such owner at his address appearing on the Registration Book and shall pay to the owner or his legal assignee the principal of any fully registered Bond or any coupon Bond registered as to principal upon presentation and surrender of such Bond. The Paying Agent will cause a. duplicate copy of such registration to -be forthwith delivered to the Treasurer of the City, and from time to time will keep the Treasurex of the City and each of the other Paying Agents of the City fully advised of all -transfers of registered Bonds and of the names and addresses of the registered owners of all registered bonds. Section 7. For the purpose of paying the principal of and interest on the Bonds, the Council shall, at the time of making the general tax levy after incurring the bonded indebtedness, and annually thereafter until the Bonds are paid or until there is a sum in the treasury set apart for that purpose sufficient to meet all payments of principal and interest on the Bonds as they become due,.levy and collect a tax sufficient to pay the interest on the Bonds and such part of the principal as will become due before the proceeds of a tax levied at the next general tax levy will be available. Such taxes shall be levied and - 14 - 274 Minutes of August 18, 1965, continued collected as other City taxes and shall be in addition to all other ta;.es an shall be used only for payment of the Bonds and interest thereon. Said taxes as collected shall be forthwith paid into the fund for which the same were levied and collected and which shall be designated "City of Lodi 1965 Municipal Improvement Bond Interest and Sinking Fund," and all sums to become due for the principal of and interest on the Bonds — shall be paid from such fund. There shall likewise be deposited in said fund any moneys received on account of any premium paid on the Bonds and interest accrued on the Bonds from their date to the date of delivery and actual payment of the purchase price thereof. When all of the princi- pal and interest on all of the Bonds have been paid, any balance of money then remaining in said fund shall be transferred to the general fund of the City. Section 8. There are hereby created and established three special funds, which shall be kept by the Treasurer, into which shall be deposited the proceeds of the sale of the Bonds, as follows, to wit: (a) 111965 Sewer System Improvements Fund," by which a record shall be kept of the disbursement of the proceeds of the sale of $40215,000 principal amount of the Bonds, including the proceeds of sale of $3,255,000 principal amount of the Series i' Bonds (other than premium and accrued interest received on such sale), and such proceeds shall be applied solely to the purposes and objects specified in Measure (A) (Sewer System Improvements) set forth in Section 2 of this Resolution; provided, however that when said purpose and object have been accomplished, any moneys remaining in said fund shall be transferred to said City of Lodi Municipal Improvement Bond Interest and Redemption Fund and be used for the payment of principal of and interest on the Bonds; (b) "1965 Public Safety Building Fund," by which a record shall be kept of the disbursement of the proceeds of the sale of $1,145,000 princi- pal amount of the Bonds, including the proceeds of sale of $1,145,000 principal amount of the Series A Bonds (other than premium and accrued interest received on such sale), and such proceeds shall be applied solely to the purposes and objects specified in said Measure (B) (Public Safety Building) set forth in Section 2 of this Resolution; provided, however that when said purpose and object have been accomplished, any, moneys remaining in said fund shall be transferred to said City of Lodi Municipal Improvement Bond Interest and Redemption Fund and be used for the payment of principal of and interest on the Bonds; and (c) 111965 Storm Drainage Improvements Fund," by which a record shall be kept of the disbursement of the proceeds of the sale of $1,840,000 principal amount of the Bonds, including the proceeds of sale at $1,100,000 principal amount of the Series A Bonds (other than premium and accrued interest received on such sale), and such proceeds shall be applied solely to the purposes and objects specified in said Measure (C) (Storm Drainage Improvements) set forth in Section 2 of this Resolution; provided, however that when said purpose and object have been accomplished, any moneys remaining in said fund shall be transferred to said City of, Lodi Municipal Improvement Bond Interest and -Redemption Fund and be used for the payment of principal of and interest on the Bonds. Section 9. The Clerk 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 sgmoas tbexeof 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 who shall safety keep the same until they shall be sold by the Council, whereupon he shall deliver them to the purchaser or purchasers thereof, on receipt of the purchase price. The Biayor, Treasurer and Clerk are further authorized and directed to make, execute and deliver to the pur- chaser of the Bonds a signature and no -litigation certificate in the form customarily required by purchasers of municipal bonds, certifying - to the genuineness and due execution of the Bonds and further certifying to all facts within their knowledge relative to any litigation which may or might affect the City, said officers or the Bonds, and the Treasurer is further authorized and directed to make, execute and deliver to the - 15 - 276 Minutes of August 18, 1965, continued purchaser of the Bonds a receipt in the form customarily required by purchasers of municipal bonds, evidencing the payment of the purchase price of the Bonds, which receipt shall be conclusive evidence that said purchase price has been paid and has been received by the City. Any purchaser or subsequent taker or holder of the Bonds is hereby authorized to rely upon and shall be justified in relying upon such signature and no -litigation certificate and such receipt with respect to the Bonds executed pursuant to the authority of this resolution. Section 10. All of the bonds shall be offered for public sale by the Council on October 6, 1965, and the Clerk is hereby authorized and directed to cause notice of the sale of the bonds to be published once in the LODI D1211S-SE,�ITMSL., a newspaper published in the City, and such notice shall be substantially in the following form, to wit. OFFICIAL NOTICE OF SALE $5,500,000 CITY OF LODI CALIFORNIA 1965 MMICIPAL 114PROVEMENT BMDS, SERIES A NOTICE IS HEREBY GIVEN that sealed proposals will be received by the City Council of the City of Lodi, State of California, at the Council Chambers, City Hall, Lodi, California on WEDNESDAY, OCTOBER -6, 1965 at the hour of 8:00 P.M. (Cal. D.S.I.) for the purchase of $5,500,000 principal amount of bonds of the City designated."City of Lodi 1965 Municipal Improvement Bonds, Series A," more particularly described below. ISSN : $5,500,000, Series A. being part of a total authorized issue of $7,200,000: No additional bonds of this authorized issue"will be offered for sale prior to July 1, 1966. DATE OF BONDS: October 1, 1965.` DENOMINATION Coupon bonds will. be in the denomination of $5,000 each, AND KLNIBERS: numbered in consecutive numerical order from Al to A1100. VIATtRITIES: Said bonds mature serially in consecutive numerical order, from lower to higher, on October 1 in each year, as follows: Principal Maturity Date Amount (October 1) $105,000 1966 110,000 1967 115,000 1968 120,000 1969 125,000 1970 125,000 1971 130,000 1972 135,000 1973 140,000 1984 145,000 1975 150,000 1976 155,000 1977 160,000 1978 165,000 1979 175,000 1980 - 16 .- 27� Minutes of August 18, 1965, continued Principal viaturity Date Amount (October 1) $180,000 1981 185,000 1982 190,000 1983 -. 200,000 1984 205,000 1985 210,000 1986 220,000 1987 225,000 1938 235,000 1989 245,000 1990 250,000 1991 260,000 1992 270,000 1993 2+30,000 1994 290,000 1995 INTEREST Maximum six (6) per cent per annum, payable October 1, RATE: 1966, and semiannually thereafter on April 1 and October 1 in each year. Bidders must specify the rate or rates of interest which the bonds hereby offered for sale shall bear. Bidders will be permitted to bid different rates of interest, except: (i) the difference between the lowest and highest coupon rates named in any bid shall not exceed 1-1/2A; (ii) no bond shall bear more than one rate of interest; (iii) no interest payment shall be evidenced by more than one coupon; 4iv) each bond shall bear interest from its date to its stated maturity at the interest rate specified in the bid; (v) each interest rate specified must be in a multiple of 1/20 of la; and (vi) no bid will be accepted which provides for the cancellation and surrender of any interest coupon or for the waiver.of any interest on any of the bonds. REDEMPTION: Bonds maturing by their terms on or prior to October 1, 1987, shall not be subject to call or redemption prior to their fixed maturity dates. Bonds maturing by their terms on and after October 1, 1988 shall be subject to call and redemption at the option of the City, as a whole, or in part in inverse numerical order from higher to lower, on October 1, 1981 (but not prior thereto), and on any interest payment date thereafter prior to their fixed maturity date or dates at the principal amount thereof and accrued interest thereon to date of redemption, together with a premium of 1/4 of lib of such principal amount for each whole year and for any remaining fraction of a year from the date fixed for redemption to the fixed maturity date of the bonds so called for redemption. PAYMENT: Both principal and interest are payable in lawful money of the United States of America at the office of the Paying Agent of said City in San Francisco, California, New York, New York, or Chicago, Illinois, at holder's option. The Paying Agents of the City of Lodi at the date hereof are: Bank of America National Trust and Savings Association, San Francisco, California; First National City Bank, New York, New York; and The First National Bank of Chicago, Chicago, Illinois. REGISIRATION: The bonds will be issued in coupon form or in fully registered form at the option of the bidder and will be interchangeable free of cost to the bondholder (except for taxes or possible reprinting costs). Coupon bonds will be registrable as to principal, but may be discharged from registration and will be exchangeable as above provided. PURPOSE OF Said bonds are authorized by vote of two-thirds of the ISSIP.i: qualified voters voting at a special election for the purpose of authorizing bonds for sewer system improve- ments, a new public safety building and storm drainage improvements. - 17 - 277 Minutes of August 18, 1965, continued SECLRITY: The bonds are general obligations of the City of Lodi, and the City has power and is obligated to levy ad valorem taxes for the payment of said bonds and the interest thereon upon all property within the City of Lodi subject to taxation by the City (except certain intangible personal property, which is taxable at limited rates), without limitation of rate or amount. TAX EXEMPT In the event that prior to the delivery of the bonds the STATUS: income 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 which is followed by the Internal Revenue Service, or by decision of any federal court, the successful bidder may, at his option, prior to the tender of said bonds by the City, be relieved of his obligation under the contract to purchase the bonds, and in such case the deposit accompanying his bid will be returned. LEGAL OPINION: The legal opinion of Messrs. Orrick, Dahlquist, Herrington & Sutcliffe, of San Francisco, California, approving the validity of said bonds, will be furnished to the successful bidder, and will be imprinted on the reverse of the bonds, without charge to the successful bidder. TERMS OF SALE Highest Bid: The Bonds of Series A will be awarded to the highest bidder considering the interest rate of rates specified and the premium offered, if any. The highest bid will be determined by deducting the amount of the premium bid (if any) from the total amount of interest which the City would be required to pay from the date of the bonds to their respective maturity dates at the coupon rate or rates specified in the bid, and the award will be made on the basis of the lowest net interest cost to the City. The purchaser must pay accrued interest from the date of the bonds to the date of delivery. All inter- est shall be computed on a 360 -day year basis. The cost of printing the bonds will be borne by the City. Estimate of Net Each bidder is requested, but not required, to supply Interest caekt= an estimate of the total net interest cost to the City on the basis of his bid, which shall be considered as informative only and not binding on either the bidder or tae City. Right of The Council reserves the right, in its discretion, to Rejection: reject any and all bids and to waive any irregularity or informality in any bid. Prompt The Council will take action awarding the bonds or Award: rejecting all bids not later, than 26 hours after the expiration of the time herein -prescribed foi the receipt of proposals, unless such time is waived by the success- ful bidder. Prompt notice of award will be giver to the successful bidder. Delivery and Delivery of the Bonds of Series A will be made to the Payment: successful bidder against payment of the purchase price of the bonds at the San Francisco Main Office of Bank of America National Trust and Savings Association, 300 Montgomery Street, San Francisco, California, as soon as the bonds can be prepared, which it is estimated will be within 30 days from the date of sale. Payment for the bonds must be made in funds immediately available to the City in San Francisco. The cost of providing immediately available funds, including Federal Reserve Bank funds if necessary, must be borne by the purchaser, Right of The successful bidder shall have the right, at his option, Cancellation: to cancel the contract of purchase if the City shall fail to execute the Bonds of Series P and tender the same for delivery within sixty (60) days from the date of sale, and in such event the successful bidder shall be entitled to the return of the deposit accompanying his bid, - ls- 27Q Ninutes of August 18, 1965, continued Form of Bid: All bids must be for not less than all of the bonds hereby offered for sale and for not less than the aggre- gate par value thereof and accrued interest to date of delivery. Each bid, together with bidders check* must be enclosed in a sealed envelope addressed to the City Council of the City of Lodi, City Hall, Lodi, California, and endorsed "Proposal for City of Lodi 1965 — Municipal Improvement Bonds, Series A." Bid Check: With each bid must be submitted a certified check or cashier's check for $25,000 drawn on a bank or trust company transacting business in the State of California, payable to the order of the City to secure the City from any loss result-, ing from the failure of the bidder to comply with the terms of his bid. Checks of the unsuccessful bidders will be returned by the City by mail upon the award of the Bonds of Series A. Pio interest will be paid upon the deposit made by any successful bidder. No Litigation: There is no litigation pending concerning the validity of the Bonds of Series I-, and the City will furnish to the successful bidder a no -litigation certificate certifying to the foregoing as of and at the time of the delivery of the Bonds of Series A. Official The City has prepared an Official Statement relating to Statement: the bonds, copies of which will be furnished on request to the City Clerk or to Stone & Youngberg, 1314 Russ Building, San Francisco, California, the City's financing consultant. Dated: August 18, 1965. BEATRICE GARIBALDI- City Clerk of the City of Lodi, California Section 11. The City Clerk is also authorized to cause the Notice of Sale to be published once in THE DAILY BOND BUZER-, but no defect or error in such publication shall affect the sale of said bonds. Section 12. This resolution shall take effect from and after its. passage and approval. PASSED APID ADOPT this 18th day of Lugust, 1965, by the following vote. AYES: Councilmen - BROWN, CULBERTSON, DO;J, WALTON and KIRSTEiN NOES: Councilmen - None ABSENT: Councilmen - None SJ COUNTY Ur. Glaves presented the annual contract with the.San ' SAFETY COMCIL Joaquin County Safety Council for approval. The con - CONTRACT tract is for services rendered by the Safety Council and is similar to the contract approved in past years. On. RES. NO. 2852 motion of Councilman Culbertson, Dow second, the City ADOPTED Council adopted Resolution No. 2852 approving the con- tract with the San Joaquin County Safety Council and authorizing its execution by the Mayor. BASI14 A-1 Mr. Glaves stated no bids had been received on the FENCING fencing for Basin A-1 and he recommended that the Administration be authorized to negotiate on the open RES. NO. 2853 market. On motion of Councilman Dow, Culbertson second, ADOPTED the City Council adopted Resolution No. 2853 declaring no bids had been received on the Basin A-1 fencing and authorizing the City manager to negotiate for same on the open market. - 19 - 279 Minutes of August 18, 1965, continued AWARD - 1965 Only one bid had been received for Subdivision Paving SUBD. PAVING 1965, the bid being from Claude C. 'wood Company in the amount of $44,078.75, I4r. Glaves said this was a RES. NO. 2854 reasonable bid and he recommended that award be made. ADOPTED On motion of Councilman Brown, Dow second, the City Council adopted Resolution No. 2854 awarding the con- tract to Claude C. Wood Company for the amount of their bid,. PARKING ON The Public Works Department has recommended that MILLS AVE. Resolution No, 2660 which established no parking along BTW JERRY certain areas of Mills Avenue be amended to eliminate AND CAPELL no parking zones on the east side of the street between ADOPTED Jerry Lane and Capell Drive. This part of the street has RES. NO. 2855 recently been improved by the subdivider so the no park - ADOPTED ing zone is no longer. needed. On motion of Councilman Dow, Brown second, the City Council adopted Resolution No. 2855 amending Resolution No, 2680 by eliminating the no parking zone on the east side of Mills Avenue between Jerry Lane and Capell Drive. DRIVEWAYS - Humble Oil Company has requested.two 30 -foot driveways on HLMBLE OIL CO. Kettleman Lane for a proposed service station to be located AT KETTLENiAN on the corner of Kettleman and Ham Lane. The Public AND HAN LANE Works Department recommended approval -of the request as shown on the sketch submitted. On motion of Council- man Culbertson, Dow second, the City Council approved the installation of two 30 -foot driveways by Humble Oil Company on Kettleman Lane near Ham as requested. CORRECT RAJ An error has been discovered in the recorded deed from SAD TO & TOKAY Inez Huppert fox right of way at the intersection of Tokay and Sacramento Streets. The Title Company has RES. NO. 2856 requested that the property shown on the deed be aban- ADOPTED doned and that after abandonment a corrected deed be obtained from Mrs. Huppert. Nus. Huppert is in accor- dance with this request. On motion of Councilman Walton, Dow second, the City.Co uicil adopted Resolution Do. 2856 .declaring its intention to abandon the property set forth.on the deed and setting public .hearing thereon for September 15, 1965. ACCEPT Vista Daive, Cortez Way and Vine Street in Vista Ray STREETS IN Subdivision have been completed and are ready for accepi.- VISTA RAY tance by the City. On motion of Councilman Dow, Culbertson second, the City Council adopted Resolution RES. NO. 2857 No. 2857 accepting the above streets in Vista Ray Sub - ADOPTED division. 1955-66 The City Manager presented figures for the 1965-66 CAPITAL AND budget funding, showing the amounts to be transferred UTILITY OUTLAY to the Capital Outlay Reserve and Utility Outlay Reserve for 1965-66. On motion of Councilman Dow, Walton second, ORD. NO. 798 the City Council introduced Ordinance No. 798 adopting INTRODUCED : the Capital Outlay.and Utility Outlay Budget for fiscal -, 1965-66. 1965-66 TAX. On motion of Councilman Culbertson, Dow second, the City RATE ;,.. _ Council adopted by unanimous vote Resolution No. 2858 fixing the tax rate in provision for revenue for the RES..NO. 2858 1965-66 fiscal year as follows:... ADOPTED General Fund $1.00 Pension Fund .20 Storm Drainage Fund _ .20 Library Fund 18 Total Tax Rata 1.58 ADJOURPIENT There being no further business, the Council adjourned at 10:15 p.m, on motion of Councilman Dow, Walton second. Attest: Beatrice Garibaldi Ci. tv Clerk'