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FILE 110. �s6
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In The Superior Court of The State of California
In and for the County of San Luis Obispo
AFFIDAVIT OF PUBLICATION
No...
__Iff The--Matter_Of_ c:.onaoli.�atesl.__F:xliagcial Sun
Parkin_,i),istrl9.k._N.4...l.,Pr4J.@9.L. Ba,aJRS.a._.heet ,
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STATE OF CALIFORNIA, June 30, 1968
es.
County of San Luis Obispo i '•Pa.x-. ..
S d id 1 th
m vmnu a
,M RatvtP�ltl. 1 ,nM?
I am a citizen of the United totes an a rest on t o s
County aforesaid; 1 am over the age of eighteen cad not •m., ....,. P
interested in the above -entitled .. Matter ......... ___ ...
_..
_- .__._........._.; 1 am now, and at all times embraced
in the publication herein mentioned was, the principal clerk
of the printers and publishers of the SAN LUIS OBISPO
COUNTY TELEGRAM -TRIBUNE, a newspaper of general cir-
culation, printed and published daily, Sundays excepted, at
the City of San Luis Obispo in the above named county and
state; that.._...__..._....................._...................................."'._.....
.. __._..__..... _... _ Fin?.ncial—guitmary ...... ........... .........._...
of which the annexed clipping is a true printed copy, was
published in the above -named newspaper and not in any
supplement thereof —on the following dates, to -wit: --- _ ........
November 23.s --- I g................. ........ ._--
............._.._ _ _ _.... _... ..................
that said newspaper was duly and regularly ascertained and
established a newspaper of general circulation by Decree
entered in the Superior Court of San Luis Obispo County,
State of California, on tune 9, 1952, under the provisions of
lapter 1, Division 7, Title I of the Government Code of the
ate of California.
certify (or declare) under penalty of perjury that the fore-
oing is true cad correct.
...._........._........................
nT.Adama--(Signatures of Principal Clerk)
Cashier o8
Date..................................Nov
...........em...b..e: ...r ...2j ........................ 19.....
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In The Superior Court of The State of California
In and for the County of San Luis Obispo
AFFIDAVIT OF PUBLICATION
No................ ........
_. In_. The_tNr
STATE OF CALIFORNIA,
ea.
County of San Luis Obispo
I am a citizen of the United States and a resident of the
County aforesaid; I am over the age of eighteen and not
interested in the above entitled ._lfatter._..... .._.......
._....
_.........,.. _.. _...._...__.; I am now, and at ail times embraced
in the publication herein mentioned was, the principal clerk
of the printers and publishers of the SAN LUIS OBISPO
atn
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re Je.H41i
COUNT! 7ELECaAledlfUUNE, anewspaper of general eir- J ti b elPs "e
culation. printed and published daily, Sundays excepted, at
the City of San Luis Obispo in the above named county and
state; that ..PArkirig..Diatrict..No.l Project
-
_.Feriod..,Eadiag_June _30,196?
of which the annexed clipping is a true printed copy, was
published in the above -named newspaper and not in any
supplement thereof —on the following dates, to -wit:..............
October 6,1967___
that said newspaper was duly and regularly ascertained and
established a newspaper of general circulation by Decree
entered in the Superior Court of San Luis Obispo County,
State of California, on June 9, 1957., under the provisions of
Chapter 1, Division 7, Title 1 of the Government Code of the
State of California.
I certify (or declare), under penalty of perjury that the fore-
going is true and correct.
:q
.. ...._......er....
Il,J Cal gari (Signature of Principal Clk4
Date _. ._. _. .October 6 ........ ig.67.
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a •
In The Superior Court of The State of California
In and for the County of San Luis Obispo
AFFIDAVIT OF PUBLICATION
No... ............ _.
In The Natter Of Consolidated Financial Summary.
.._.........__.._... .......
Parking District No.2 Project Period Ending
June...0';I
STATE OF CALIFORNIA,
se.
County of San Luis Obispo
I am a citizen of the United States and a resident of the
County aforesaid; 1 am over the age of eighteen and not
interested in the above -entitled _ Matter .
.......................
_. _ _.... 1 am now, and at all tire" embraced
in the publication herein mentioned was, the principal clerk
of the printers and publishers of the SAN LUIS OBISPO
COUNTY TELEGRAM -TRIBUNE. a newspaper of general cir.
culation, printed and published daily, Sundays excepted, at
the City of San Luis Obispo in the above named county and
state; that __. _.._ ._..Finaneial..SumImi -
of which the annexed clipping is a true printed copy, was
published in the above -named newspaper and not in any
supplement thereof —on the following dates, to -wit: ..........._.
September 6,1966
that said newspaper was duly and regularly ascertained and
established a newspaper of general circulation by Decree
entered in the Superior Court of San Luis Obispo County,
State of California, on June 9, 1952, under the provisions of
Chapter 1, Division 7, Title i of the Government Code of the
State of California.
I cart' for eclare) under penalty of perjury that the fore-
W.J
Date ...
1966
SEA. W
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6
In The Superior Court of The State of California
In and for the County of San Luis Obispo
AFFIDAVIT OF PUBLICATION
No........._ ..... __ ...
In The Matter Of Consolidated Flibancial
Sumary. .......... . .... ..... ...
STATE OF CALIFORNIA, I
County of Son Luis Obispo I *x*
lit I
I am a citizen of the United States and a resident of the
C,
County aforesaid; I am over the age of eighteen and not
interested in the above -entitled VATT,E.R.
... ...._; I am now. and at all times embraced
in the publication herein mentioned was, the principal clerk
of the printers and publishers of the SAN LUIS 01111M
COUNT TZ=JtAMTMUNL a newspaper of general cir-
Balanced
0
Power
culation, printed and published daily, Sundays excepted, at
the City of San Luis Obispo in the above named county and
state; that __.PARKING. -- DISTR.11PT.111914. PRINTACT
of which the amazed clipping is a true printed copy, was
anyZ__
published it the above -named newspaper and not in y
lif.'T
supplement thereof —on the following data, to -wit: ...........
OCTO-BER.291,4_96.511
that said newspaper was duly and regularly once r I of n a all and
Arita Beach
established a newspaper of general circulation by Decree
Ircom apart-
entered in the Superior Court of San Luis Obispo County,
2k maid service
0
State of California, on June 9, 1952. under the provisions of
*cues, kitch-
Chapter 1, Division 7. Title I of the Government Code of the
State of California.
yes. Adjacent
.11595-2300.
1 certify (or declare) under penalty of perfury that the fore-
going Is tnuo-land correct.
IES GAS COMPANY
M.J,Caligari (Signature of Principal Clerk)
0.1. .. Uptcpiqr 29 15 65
This is an ad foi
wO, leosaN for
st.,oa Wall".
Ttwestcocsschsmq
was". Only t 8S
I, you0.16 J. toad take all that It
pat h mrd' Wh"a it bol
Ise VW hold, 170
Iw;Ca ass oft as �.'l is
Which mean, yea '
awil,Il have to" fart
In The Superior Court of The State of California
In and for the County of San Luis Obispo
AFFIDAVIT OF PUBLICATION
No.......... ____. _..
In..the. Mt.ter.. of._0.onao1idate.d.. Fina.nR1o1_Sutnmary
of. ..... Park.3r1a.q�.,�..@tru-t. Noa_Pe
1. $4.r...thq. riod Ending
JW)V& CALTFOil11t ,
es.
County of San Luis Obispo II:.
I am a citizen of the United States and a resident of the,
County aforesaid; I am over the age of eighteen and nc
interested in the above-entitfsd ....Wetter__ ... ......___
.._
I am now, and at all times embrace
in the publication herein mentioned was, the principal cler.
of the printers and publishers of the SAN LUIS 011i
COUNTY TELCGROLK-77OON6, a newspaper of general cir
culatton, printed and published daily, Sundays excepted, a
the City of Son Luis Obispo in the above named county one
state; that ..... GUNSGLI T-7D..Y.UAs'GIAI,.S.GN'�1i. FY
QF..FAdKING-.DIST=... O.._.I_FOR-ME --- F UU,
... ENDILG_JrfNE..3.O ,_.L464..._..............._
of which the annexed clipping is a true printed copy, war
published in the above -named newspaper and not in any
supplement thereof —oft the following dat". to -wit: .............
O.ctober..3.Da...1464............. .__.... .__...... .
..._..._.__.........._...._..........__......._.....__............. .._._....._----- ... ..
that said newspaper was duly and regularly ascertained and
established a newspaper of general circulation by Decree
entered in the Superior Court of Scai Luis Obispo County,
State of California, on June 9, 1952. under the provisions of
Chapter 1, Division 7• Title 1 of the Government Code of the
Slate of California.
I certify (or declare) under penalty of perjury that the fore-
going is true and correct.
........DJ .- ,.S--C_ . .
Wilfred J. Ca iga ri pal Clerk)
is
Date ............. .... ........ ..... .............. 8r-30.......... 19f4.
,.- Provided nothing unforeseen occurs, 1
visit Disneyland. Perhaps .. .
ids sidetracked
.o`
v al campaign
e" the young Texan said.
one of the young blades arom
a" need your help. R I can
the White House, "wait unt
,,ypard your father's train
after the election. We can't a
,.be a big bast."
ford to antagonize G e o r g
-it got young Johnson
smothers."
the Roosevelt train and
Thus referred to the fact th
^••""s elected to Congress to
the White House staff, with .
unexpired term of Rep
without the knowledge of it
Buchanan. That began
President. has been leaning ow
real start in polities
backward to Gutter up the osc
ier. Elliott and Lyndon
powerful, now waning prom
at bad become acquimted
senator from Florida, who ON
speaking at a political ral-
packet a lot of weight in Was
fexas in the 1992 election.
mg(on a, a result of a ela
..y.,.4isently. Elliott introduced
friendship with the late John
'^";•'>t to his father. who ap-
Kennedy
G..+ the gangling young
These two incidents Rlustm
.:. National Youth Admen-
the fact that ever' Presider
e�—)r for Texas.
on campaign trips, is a prison
alls calls
.-ring the war,rec
of local politicos, seldom kno,
"I was home on leave
until it's too late what friers'
..,,father was trying to de.
be has antagonized or neglect.
.e•yhat to do aheut wine of
Florida right now Ls rife wr
M=ngressmen who were on
biter -party Democratic str.l
_. loverseas. including Lyn-
Elliott Ronsereft. a relative n-
comer, won an amazing eiecl:.
t should bring huh hack
this ;'ear when he beat ou-
He could be much more
large field of old -We Demon,
in Washington," I advised,
to become Democratle Natlo,
1
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In The Superior Court of The State of Califon
In&d for the County of San Lui3obispo
AFFIDAVIT OF PUBLICATION
No_ .......................
I.A._th0.. Hatter ..A.:._Pa3:fS.iiti--- M0.1tI:1 X-J.Na... 1:.
STATE OF CALIFORNIA,
se.
County of San Luis Obispo
I am a citizen of the United Stales and a resident of the
County aforesaid; I am over the age of eighteen and not
interested in the above -entitled -matter ........ .... ___ __.._....
_.. _._.. _... . _. _.; I am now, and at all times embraced
in the publication herein mentioned was, the principal clerk
of the printers and publisher. of the SAN LUIS OBISPO
COUNTY TELEGRAM -TRIBUNE, a newspaper of general cir-
culation, printed and published daily, Sundays excepted, at
the City of San Luis Obispo in the above named county and
state; that .. C.Of130LIP&TAj)...FIXANIPIAL._si1WT_..
of which the annexed clipping is a true printed copy, was
published in the above -named newspaper and not in any
supplement thereof —an the following dates, to -wit: ..... _.......
Nov. 24,_ 1962 .....
that mid newspaper was duly and regularly ascertained and
established a newspaper of general circulation by Decree
entered in the Superior Court of San Luis Obispo County.
State of California, on Tune 9, 1952, under the provisions of
Chapter 1, Division 7, Title 1 of the Government Code of the
Slate of California.
I certify (or declare) under penalty of perury that the fore-
going is true sad cn r
CCr
Nilff Ca igari( d Pdodpd Circe
............:.....ber 24 18.62
Date ..._..__...__. ...............
ng from the tooth and there
eery little time for a freea
reveler driving north at norr
speed, to spot a dangemus err,
ng situation and take evas
udiun. There have teen a m
ser of fatal accidents at
ams'mg.
Atascadem residents are c
temed, and a number of elem
nary ohmd parents, 410 of wb
^ hi I d r e n most be transpor
eerosa the mooirdion twice de
ry school M;res, are expected
itiend the meeting. In addil
Al
re sill be numerm. repre
res of service clubs of
nmunity, including the At.
o Business Men's associs
oee weekly meeting adk
1'. 00 p.m, that day and s
s of which have spearhe
community attempt to tint
h)" there has been this it
alph Hagle, former than
the county planting coo
s, has commented at Rm
n's meenrprs on convene
has had with E. R. Fole
t Luis Obispo. district tng
n'bas. aer..,iird by Princess 'ere taken oa a lour M
It, Pnlr lost night to officially I the Chamber of fnmm
aia obeps. saata and hir latper Mlegram-hibuve ph
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Buildings
Personal Property (Sec)
Personal Property (Unsec)
Total
. . •
(ember 24, 1965
SUBJECT Assessed V�.luo Parking District 01
41,333,050
1,599,010
134,710
1.037.424
$4,104,194
Assessed Value x Tax Rate Taxer
54, 104,194 x $1.—SO 61,562,91
r
MEMORANDUM
•
Oct nberk 1965
FROM J.H.• Fitzkatrlck _
Land
Buildings
Personal Property (Sec)
Personal Property (Unsee)
Total
SUBJECT Assessed Vn lug Parking District #1
$1,333,050
1,599,010
134,710
1.037.424
$4.104.194
Assessed Value x Tax Rate Taxer
7,104,194 x $1.50 $61,562.91
.e.....,
July 6, 1965
Mr. Janes 6. Negonald
Vice President. Downtown Association
San late Obispo, California
Dear Sir:
Attached es par your request is a list of the property owners
by parcel =what, street address, and the owners' Mar and address, and
the assessed valuation of all the properties is the Municipal Parking
District No. 1.
Also for your information i have attached a Copy of a map ahowiag
boundaries of the parking district.
Yours truly.
J. N. FITZPATRICK
CITY CLg9i
JNP:tln
Earls.
PARKING DISTRICT NO. 1
ASSESSED
VALUES
PARCEL NO.
ADDRESS
OWNER'S NAME 6 ADDRESS
LAND
IMPS.
2-421-16
1024-1032 Nipomo St.
Leitcher, Robt. D. -
642 Monterey St.
600
1590
2-421-06
636 Higuera St.
Brophy, Maydie R.
648 Higuera St.
2430
830
2-421-07
648 Higuera St.
Ahearn, John J. 6
210 Casper St.
Mary C.
Milpitas, Calif.
3180
1160
2-421.09
662 Higuera St.
Mercer, Wm. S Ann I.
1354 Peach St.
2070
1330
2-421-10
668 Higuera St.
Pearson, Laurence E.
(Vacant)
S Margaret L.
2044 Hope St.
1330
-
2-421-12
676-680 Higuera St.
Pedrotta, Jos. A.
6 Mary S.
963 N. Broad St.
2190
1900
2-421-13
686 Higuera St.
West, Wm. L. 6
Lois M.
686 Higuera St.
1060
3120
2-421-14
690 Higuera St.
Nelson, John d.
& Eliz. B.
690 Higuera St.
1930
3070
2-421-17
698 Higuera St.
Vollmer, Marguerite
P. 0. Box 317
2310
5020
2-422-01
641 Higuera St.
Dewar, John B.
Rt. 1, Box 6
3250
1180
2-422-02
645 to 649 Higuera
Nelson, Albert
P. 0. Box 1026
3880
5160
2-422-03
659 Higuera St.
Dyer, Leon L. 6
Ann I.
1129 Pacific St.
1940
4730
2-422-04
663 Higuera St.
Jacobsen, Christina
M, Et al
71 N. Broad St.
1650
3370
2-422-05
669 Higuera St.
Howell, Raymond B.
6 Rosalie B.
479 Pismo Street
4680
7270
2-422-06
673-675 Higuera
Ramige, Walter L.
1118 Palm Street
3890
5190
2-422-07
685 Higuera St.
Heinz, John W.
6 Ellen A.
685 Higuera St.
4420
10490
2-422-08
695 to 699 Higuera
Silva, Joseph P.
%M. F. Andre
Rt. 2, Box 466
6380
8120
2-422-09
1121 Broad St.
Idler, W. C. 6 A.L.
1121 Broad Street
2940
1820
2-422-16
1127 Broad St.
Mc Keen, Rada M.
1127 Broad St.
2950
2100
2-422-17
1131 Broad St,
Idler, W. C. 6. A.L.
II2I Broad St.
2180
2220
2-422-18
692 Marsh St.
Jones, J. G.
Rt. 1, Box 18
Friday Harbor, Wash. 6960
6100
2-422-15
664-668 Marsh St.
Klaucke, Dora
668 Marsh Street
5650
1770
2-422-13
638-640 Marsh St.
Pedrotta, Jos. A.
: James Bode
3950
1300
6 Mary S.
330 5ch S.., Morro
Bay
2-422-12
600 Marsh St.
Ouesnel, Henrietta W.5105
Palma Ave.
Atascadero, Calif.
3600
1580
2-422-11
1124 Nipomo St.
Woodbridge, John H.
4527 Maryland Ave.
St.Louis 8, Mo.
1000
3470
2-424-12
712-720 Marsh St.
Gazin, Albert et al
898 Center St.
5000
10200
2-424-30
722-728 Marsh St.
Gazin, Albert 6
Carolyn
898 Center St.
2230
3930
2-424-18
742 Marsh St.
Kamm, Leslie W.
1228 Broad St.
2360
4520
2-424-19
748 Marsh Street
Smith, E. Taylor
1035 Murray St.
5000
4790
2-424-21
1123 to 1127 Marsh
Smith, E. Taylor
1035 Murray St.
3340
3460
2-424-16
1119 Marsh St.
Johnson, Fred H.
S Florence G.
1068 Pismo St.
3170
5500
2-424-22
Parking Lot No. 2
City of SLO
2-424-01
705 Higuera St.
Ferguson, Francis R.
705 State Se.
6 Gladys L.
Santa Barbara
2320
2220
1-424-02
7I3 Higuera St.
Fisher, J. W. 6
Lurene
164 Longview Lane
2280
2060
2-424-03
717 Higuera St.
Brown, G. S. Jr.
P. 0. Box 236
1920
2260
2-424-25
721 Higuera St.
Louis, Howard W.
6 Yvonne
800 Palm Street
1910
1980
105,850 124,810
Parking District No. 1 (Continued)
Page -2-
ASSESSED
VALUES
PARCEL 1,40.
ADDRESS
OWNER'S NAME & ADDRESS
LANE
IMPS,
2-424-26
723 Higuera Street
Johnson, F. H. & F. G.
1068 Pismo St.
2000
1520
2-424-27
725 Higuera Street
Johnson, F. H. & F. G.
1068 Pismo St.
3440
3040
2-424-28
733 Higuera Street
Van Aman, R., et al
P. O. Box 236
Morro Bay
3600
3590
2-424-29
737 Higuera Street
Sanson, Lenore H.
737 Higuera St.
2980
7390
2-424-08
741 Higuera
Reilly, Edward M.
2526 Vallejo St.
San Francisco 23
3240
1440
2-424-09
745 Higuera Street
Meredith, Mary C.
4542 W. 18th St.
Los Angeles 18
3160
1720
2-424-10
749 Higuera Street
Lacterman, Harry M.
& Tillie
749 Higuera St.
8620
13450
2-426-01
767-771 Higuera St.
Maine Bros., Corp.
1108 Garden St.
9820
8760
2-426-02
777-7771 Higuera St.
Buchan, Thomas S.
845 Murray Ave.
4700
6110
2-426-03
779 to 787 Higuera St.
Sauer, Arthur A.,
et al
2435 Parkland Terrace14210
7670
2-426-04
793 to 797 Higuera
Mathis, Carl C., Sr.
& Alma M.
522 Dana St.
11960
8500
2-426-10
1117 Chorro St.
Minville, Rose F. &
Blanton, Lillie J.
1113 Chorro St.
3390
1260
2-426-11
1119 Chorro St.
Sec. Title Ins.
3444 Wilshire Blvd.
Los Angeles 5,
3460
5300
2-426-12
1127 Chorro St.
Fisher, J. W. &
Lurene
164 Longview In.
6860
11750
2.426-15
1131 Chorro St.
Maine, C.A. & May R.
1108 Garden St.
4770
5100
2.426-14
1141 Chorro St.
Title Ins. & Trust
Admin. Services
Company
Attn: N.B. Hall
433 S. Spring -LA 54
8150
11380
2-426-09
778 Marsh Street
Parks, Hamilton
1045 Mill Street
1680
3120
2-426-08
774 Marsh Street
Nelson, Albert
P. 0. Box 1026
2540
5000
2-426-07
1130 Garden Street
Ramage, M., et al
1118 Palm Street
2020
4280
2-426-06
1126 Garden Street
Fisher, J.W. &
Lurene
164 Longview Ln.
2900
250
2-426-05
1110 to 1124 Garden
Wilson, Eliza M.
730 E. Statford
& Iu gh R.
Pismo Beach,
5630
7020
2-427-01
839 to 851 Higuera
Wineman, Miss Marie
P. 0. Box 424
et al
Santa Maria
37500
36550
2-427-02
867 to 869 Higuera
Hoerntlein, John L.
869 Higuera St.
11290
13930
2-427-03
879 Higuera St.
Melsand Corp.
338 E. Green St.
Pasadena
47050
27110
2-427-04
887 Higuera St.
Maine, May R.
I108 Garden St.
8880
8120
2-427-05
(895 -899 Higuera
(I111-1119 Morro
Brown, Clarence A.
862 Higuera St.
10,020
14880
& W. L.
2-427-09
882-884 Marsh St.
Fitzgerald, Miles A.
et al
1568 Higuera Se.
10750
9410
2-427-12
838 Marsh St.
L. & H. Investment Co.
1144 Chorro St.
21560
56460
% Rileys
2-423-12
710-716 Higuera St.
Hill, J. E., % Snow
170 S. Beverly Dr.
and Snow, Attys at Law
Beverly Hills
7530
7580
2-423-13
718-720 Higuera St.
House, Mrs. H.W.,
827 Hobart Blvd.
Trustee
Los Angeles
3690
2370
2-423-14
726 Higuera Street
Fugate, Burt
P. 0. Box 671
2750
3140
2-423-15
728 Higuera St.
Cox, M.
15916 Ventura Blvd.
Encino
2640
3540
2-423-16
736-738 Higuera St.
The National Dollar
929 Market Sr.
Stores
San Francisco
8630
10110
2-423-17
740 Higuera St.
Vollmer, Marguerite
P. O. Box 317
2160
840
2-423-34
746 Higuera St.
Cornet Stores
411 S. Arroyo Pkway
Pasadena 1,
9630
14050
293,210
325,740
Parking District No. I (Continued)
Page -3-
2-423-19
760 to 770 Higuera
Norton, T. W.
16745 Tupper St.
Sepulveda, Calif.
21440
17640
2-423-20
778 Higuera St.
Naman, Dorothy Jane,
2460 W. Menlo
Trustee
Fresno
15120
18000
2-423-28
782-786 Higuera
Naman, D. J., Tr.
2460 W. Menlo
Fresno
11000
4530
2-423-27
790 Higuera St.
Naman, D. J. Trustee
2460 W. Menlo
Fresno
4800
1190
2-423-26
796 Higuera St.
Naman, D. J., Tr.
2460 W. Menlo
Fresno
10760
8570
2-423-23
1035 to 1037 Chorro
Naman, D. J., It.
2460 W. Menlo
Fresno
3900
2330
2-423-22
1029 Chorro
Isola, Chiara, at al
777 Chorro St.
3750
2440
2-423-21
1021-1023 Chorro St.
Berkemeyer, Jos. B.,
et al
1350 Marsh St.
5000
6130
2-423-37
Parking area on
2460 W. Menlo
Chorro next to Plaza
Naman, D. J., Tr.
Fresno
6360
-
2-423-10
Mission Plaza
% City of SLO
2-423-09
vacant on Monterey
Norton, T. W.
16745 Tupper St.
Sepulveda
1000
-
2-423-08
759-767 Monterey
Madonna, Dora
759 Monterey
3040
3070
2-423-07
747 Monterey St.
Westbrook, Susie D.
6 Olga H.
747 Monterey
1570
830
2-423-03,
04,05,06
vacant land on
6 29
Monterey St.
City of San Luis Obispo
2-423-35
1010-1012 Broad St.
Grisingher, H. R.
311 Harloe Ave.
Pismo Beach
670
3960
2-423-36
1020-1022 Broad St.
Ledson, Patricia,
et al
508 Higuera SL.
1370
480
2-425-04
842 to 850 Higuera
Security First Nat.
Attn: C.W. Smith, VP
1038-1044 Chorro
Bank of L. A.
P. 0. Box 2097 Terminal Annex
Los Angeles 54
16360
12030
2-425-05
852 Higuera
Fitzgerald, Marion
1913 Corralitos
2190
680
2-425-06
856 Higuera St.
Sandercock, Helen V.
1264 N. Kings Road
Apt. 16 -LA 90069
2960
1440
2-425-16
858 to 864 Higuera
Wickenden, James D.,
1218 Shattuck Ave.
et al
Berkeley
15910
7130
2-425-17
868 Higuera St.
Maino, T. M. S Bode
P. 0. Box 1347
26330
75560
(Main Land Co.)
2-425-09
876 Higuera St.
Spengler, Wm. F. Jr.
Long Lake, N. W.
32480
43070
at al
2-425-11
894-898 Higuera St.
Minetti, Henry L. 6
2500 Niles Street
Dockweiller, I.B.,Trs.
Bakersfield
9750
7470
2-425-10
895-897 Monterey
Paiva, Katherina 6
1019-1021 Morro
Carroll, Anna
755 fans St.
13160
20200
2-425-15
861 Monterey St.
Wickenden, Jas D.,
1218 Shattuck Ave.
at al
Berkeley 9
4060
2430
2-425-18
855 to 859 Monterey
Wickenden, Jas D.,
1218 Shattuck Ave.
at al
Berkeley 9
6450
6510
2-425-02
849 Monterey St.
Sinsheimer Bros.
P. 0. Box 31
6050
5150
2-425-01
Wickenden Bldg.
McDonald, Jas B. &
Room 15
Chorro 6 Monterey
Merelyn W., Trus.
Wickenden Bldg.
13990
13830
2-.32-01
951 Higuera St.
Maxwell, G. P.
% UCB Bank Prop. Dept.
600 S. Spring St.
Los Angeles 54
7780
14660
2-432-02
969 Higuera St.
UCB (parking lot)
I UCB Bank Prop. Dept.
600 S. Spring St.
Los Angeles 54
9570
-
2-432-09
971 Higuera
Maino, T.M. 6
Eleanor H.
P. 0. Box 1347
9170
11590
265,990 290,920
Parking District No. 1 (Continued)
Page -4-
2-432-06 14144 Morro
((and bank)lo[)
2-432-05 1116 to 1130 Morro
2-431-02
2-431-04
2-431-03
2-431-01
2-433-01
& 03
2-433-02
2-434-01
2-434-02
2-434-03
2-434-04
2-434-07
952-964 Higuera St.
968 Higuera St.
969 Monterey Si.
951 to 965 Monterey
Parking Lot #6
993-999 Monterey
1005 Monterey
1000 Higuera
1009-1015 Monterey
1035 Monterey
1037-1039 Monterey
1057 Monterey
1088 Higuera
2-435-09 1005 Higuera St
2-435-12
2-435-03
2-435-04
2-435-08
2-435-07
2-435-13
2-435-11
2-415-08
2-415-15
2-415-14
2-416-08
2-416-09
2-416-10
2-416-11
1009-1043 Higuera
IG65 Higuera St.
1081 Higuera St.
1115 Santa Rosa
1135 Santa Rosa
vacant -Marsh St.
1020 Marsh St.
parking lot
Sinsheimer Bldg.
800 Palm St.
Parking Lot No. 1
Morro Street
844 Monterey Street
846-848 Monterey
(856
(to 860 Monterey
866 Monterey St.
Service Corp.
Pacific Southwest
Realty Co.
Ramage, Walter L. &
Marie
Grant, Neil I.,
7, A. J. Shragge
Naglino, S.A. et al
Maha, A. F.
Seneker, Carl J. &
Beth H.
San Francisco 3
215 W. 6th St.
Los Angeles 14
1118 Palm St.
111 Sutter St.
San Francisco 4
P. 0. Box 334
969 Monterey St
Anderson Hotel
City of San Luis Obispo
Dalessi, Henry C. P. 0. Box 465
Berkemeyer, Jos. B.,
et al
Laird, Harry J. &
Ruth O.
SLO Theaters, Inc.
Gibson, A. F. et al
Z H. H. Nielsen
McDonald, 11arry F
1350 Marsh St.
P. 0. Box 238
9570 Wilshire Blvd.
Beverley Hills
3386 San Marino St.
Los Angeles 6
4459 Avocado St.
Office 102
Los Angeles 27
23650 49540
23630 34160
10580 9030
13250 16290
4350 8560
3540 3110
17500 40000
10810 12250
16120 9150
14890 11570
18310 24000
18810 8470
19630 1880
Tire
Firestone/& Rubber
Tax Dept.
1200 Firestone Pkwy
Akron, Ohio
13290
6640
Cole, Stanley V. &
Elly M.
1330 Monterey
7750
9430
O'Leary, Julia
1422 N. Kenmore Ave.
Los Angeles 27
9240
2150
Dickey, Grace G.
P. 0. Box 724
Brown
Los Gatos
9240
17320
Richardson, R. F.,
et al
P. 0. Box 422
9240
9170
Sinsheimer Bros.
P. 0. Box 31
4620
-
Sinsheimer, Warren A.,
849 Monterey St.
24080
60000
Junior
% Murphy & Renetzky
Biddle, G. C., et al
9l1 Palm Street
5160
-
Louis, W. Y, et at
800 Palm St.
2840
2260
City of San Luis Obispo
Zegar, Steve & Stella
971 Higuera St.
560
3330
Dunklee, Mabel M.
P. O. 9ox 106
8280
8780
Sauer, Fred G. & Rose
V., etal
1836 Viewmont
6180
2250
Hoerntlein, J. L. &
7. H. C. Murphy
M. J.
911 Palm Street
8580
5480
Austin, Lawrence, &
Cora F.
1592 Higuera St.
4550
4800
308,680 359,620
E
Parking District No. 1 (Continued)
page -5-
ASSESSED
VALUES
PARCEL NO.
ADDRESS
OWNER's NAME & ADDRESS
LAND
IMPS.
2-416-28
870 Monterey St.
Muzio, Clementine &
Marguerite
870 Monterey St.
4440
3580
2-416-24
Parking Lot #3
City of San Luis Obispo
2-416.18
886 Monterey St.
Silva, Joseph P.
% M. F. Andre
Rt. 2, Box 466
5350
4030
2-416.22
975 Morro St.
Naman, Dorothy J., Tr.
2460 W. Menlo
Fresno
10290
12070
2-416-21
955 Morro St.
Naman, Dorothy J., Tr.
2460 W. Menlo
Fresno
3710
7200
2-416-23
895 Palm St.
Kirtland, Howard B.
1740 San Luis Dr.
3640
7020
2-416-27
861 Palm St.
Muzio, C., et at
870 Monterey St.
1280
2620
2-416-20
vacant
Muzio, C., et at
870 Monterey St.
560
-
2-416-25
817-857-Palm St.
Rhodes, Gerald F. &
Christine 0.
550 Islay St.
1780
9340
2-416-02
815 Palm St.
Gin, Billie, Johnnie,
Anna & Pat
815 Palm Street
490
4570
2-416-01
811 Palm St.
United Brotherhood of
940-942 Chorro St.
Carpencers-&-Jointers
811 Palm Street
1580
11140
of America, Union #1632
2-416-03
950 Chorro Street
Rhodes, Gerald F.
550 Islay St.
970
3400
2-416-26
964 Chorro St.
Goff, Genevieve M.
964 Chorro St.
2370
1850
2-416-06
970 Chorro St.
Kundert, Karl
P. 0. Box 749
1390
590
2-416-07
978 Chorro St.
Castro, Florins
978 Chorro St.
1580
2070
2-322-01
911 Palm St.
Renetzky, Andrew &
954-958 Morro St.
Clarita, ea at
911 Palm Street
5810
9110
956 Monterey St.
2-322-02
960-962 Monterey St.
Field, 0. C.
P. O. Box 276
Palos Verdes
13230
8580
2-322-05
968-to-974 Monterey
Nelson, Wm. A. &
Stanley H.
P. 0. Box 1026
7080
4000
2-322-13
978 to 999 Monterey
Field, 0. C.
P. 0. Box 276
967 to 991 OsosSt.
Palos Verdes
24180
24330
2-322-15
901 Osos Street
Gazin, Albert &
Kundert, Karl F.
P. 0. Box 749
6660
28840
2-322-11
979 to 983 Palm St.
Field, 0. C.
P. 0. Box 276
Palos Verdes
2910
2470
2-322-16,
P. 0. Box 276
17, and 18
Parking area
Field, 0. C., at at
Palos Verdes
890
-
2-321-02
City Hall & Pkg. Lot
City of San Luis Obispo
2-321-03
City Library
City of San Luis Obispo
3-523-01
717-73.5 Marsh St.
1228 Broad Street
Kamm, Leslie W.
1228 Broad Street
15360
21250
3-523-02
1234 Broad St.
Adler, Frank W. &
Violet
800 E. Sixth St.
Grover City
3940
7200
3-523-03
732-734 Pacific St.
Kamm, Chas, H. &
Carol V.
1228 Broad St.
2750
2990
3-523-07
738-740 Pacific St.
Kamm, L. W.
1228 Broad St.
3100
1190
3-523-09
1239 Garden St.
Parks, H.
1045 Mill St.
3960
8660
3-523-08
1231 Garden St.
Chizer, G. J. & M.A.
175 Del Norte Way
3240
1900
3-523-11
751 Marsh St.
Crocker Citizens Natl
lMontgomery Street
B-nk-Attn:Controller's
San Francisco
17860
41040
Department, T.C.P.
3-525.01 777-to-785 Marsh St. Brew, Eva Nix
3-525-02 1212 Garden St. Mc Keen, Dollie A.,
Estate Of (K. H.
Mc Keen)
1390 Palm Sc
7260 16100
1212 Garden Street 5250 5050
162,800 252,790
Parking District No, L (Continued)
Page -6.
ASSESSED
VALUES
PARCEL NO.
ADDRESS
OWNER'S NAME & ADDRESS
LAND
IMPS.
3-525-03
Parking area - Central -Central Savings
&
Savings
Loan Assn.
1235 Chorro St.
3750
-
3-525-05
Parking area -Central
- Central Savings
&
Savings
Loan Assn.
1235 Chorro St.
2250
-
3-525-11
1235 Chorro
Guarantee Bldg.
& Loan
Assn, of SLOc/o
Central
Savings
1235 Chorro
13750
74400
3-525-12
Parking area
Central Savings
& Loan
Central Savings
Association
1235 Chorro
16500
670
3-526-01
1308 Garden St.
Parks, H.
1045 Mill St.
4400
L0990
3-526-02
1312 Garden St.
Guernsey, Dester E. &
Catherine L.
1460 Mill St.
1070
7780
3-526-03
1318 Garden St.
Roberts, Joan C. &
Hugh L.
1845 San Luis Dr.
1070
900
3-526-04
1326 Garden St.
First Church of Christ
Scientist
P. 0. Box 786
I330
1020
3-526-05
1334 Garden 5
Manderscheid, Carl, Jr.
& Irene V.
1334 Garden St.
1380
1190
3-526-06
1342 Pismo St.
Woodbridge, John H.
4527 Maryland Ave.
St. Louis 8
1980
990
3-526-11
1349 Chorro St.
Buck, Walter F. &
Pearl V.
1349 Chorro St.
1970
3800
3-526-10
1329 Chorro St.
McEvoy, Vera A.
1329 Chorro St.
1500
1190
3-526-09
1325 Chorro St.
Griffith, Marie A.P.
1325 Chorro St.
1330
2160
3-526-08
1317 Chorro St.
Marcum, J. 0.
830 Venable St.
2350
1180
3-526-07
1305-1307 Chorro St.
Montgomery, H. Ray &
Elva Dee
2036 Skylark L.n.
4400
3930
3-527-21
Riley's parking lot
L. & H. Investment Co.
% Rileys
1144 Chorro St.
16250
-
3-527-19
855-859 Marsh St.
Masonic Hall Assoc.
859 Marsh St.
12320
23140
3-527-05,
15
City Pkt. Lot A
City of San Luis Obispo
3-527-03,
08 and 20
Post Office
U. S. Government
3-527-14
883 Marsh Street
(So. Co's Gas Co. - SBE
parcel)
3-527-06
860 Pacific St.
Knight, R. A. & K. M.
1404 Andrews
5050
4340
3-527-07
vacant
Christensen, G. L.,
et at
P. 0. Box 1039
3600
-
2-441-11
corner Marsh &
First Presbyterian Church
Morro St.
of San Luis Obispo
P. O. Box 218
19280
2351D
2-441-06
995 Marsh St.
First Presbyterian Church
of San Luis Obispo
P. 0. Box 218
6960
2-441-14
1235-1239 Osos St.
Main Properties, a
co -partnership
P. 0. Box 1347
9270
40390
2.441-13
1232-1240 Morro St.
San Luis Clinic Inc.
1235 Osos St.
16190
7620
2.443-01
1001 Marsh St.
Fitzgerald, M.A. & E.
G.
et at
1568 Higuera St.
9540
2-443-18
1023 Marsh St.
Dunham, R. E. & E.N.
1571 Mill St.
5060
1520
2-443-15
1027 Marsh St.
Takken, Harry W.
1027 Marsh S.
2090
1110
2-443-16
1043 Marsh St.
2anoli, E. L.
974 West St.
10560
9440
2-443-05
1095 Marsh St.
Cheda, Archie A.
1545 Hillcrest Pl.
2930
2-443-12
1076 Pacific St.
Gill, H. It., et al
2019 Sierra Way
1020
1170
2-443-11
1068 Pacific St.
Lewis, Jane A. &
Griffin, Mary Lewis
1068 Pacific-Apt.E
990
1200
2-443-10
1060 Pacific St,
Hampton, Stuart E. &
Linda R.
969 Toro St.
860
1180
2-443-17
1042 Pacific St.
Hollister, Nellie F.
58 Chorro St.
3930
5490
2-443-09
1028 Pacific St.
Walker, R. G. & Mary
1028 Pacific St.
1140
4690
186,070 235,000
Parking District No. I (Continued)
Page -7-
ASSESSED
VALUES
PARCEL NO.
ADDRESS
OWNER'S
NAME 6 ADDRESS
LAND
IMPS.
2-443-08
1018
Pacific Street
O'Leary, Julia
1422 N. Kenmore Ave.
Los Angeles 27
2050
1170
2-443-07
1012
Pacific Street
O'Leary, Julia
1422 N. Kenmore Ave.
Los Angeles 27
1550
1310
2-443-14
1250
Osos Street
Evans, Gerald B. 6
E4hel M.
P. 0, Box 806
2150
2880
2-443-06
1222-1226 Osos St.
Robasciotti, Jennie
1222 Osos Street
4700
4770
10,450
10,130
GRAND TOTAL
(All 7 pages) 1,333,050. 1,599,010.
IS
ORRICK. DAHLOUIST. HERRINGTON S SUTCLIFFE
COUNSELORS AND ATTORNEY$ AT LAW T[,[..... E..... A P'1120
_ • AO$ RO.T40ME.1 STREET
4N 5AN FRANCISCO R. CALIFORNIA CA,•[ADDRESS ORRICK"
•s Oxe
Council of the City of San Luis Obispo
San Luis Obispo County, California
Parking District No. 1 Bonds of the City of San Luis Obispo
er ea
(San Luis Obis Coun�ate of California)
na n on
Dear Sira:
We hereby certify that we have examined a certified
copy of the record of the proceedings submitted to us relative to
the Issuance of $420,000 principal amount of Parking District No.
1 Bonds of the City of San Luis Obispo, Series A (hereinafter
called the "Series A Bonds"), issued under and subject to the
provisions of the Constitution and laws of the State of California,
Including the Parking District Law of 1951, and under and pursuant
to the provisions of Resolution No. 753 (1961 Series) adopted by
the Council of the City of San Luis Obispo (hereinafter called the
11City") on March 20 1961, authorizing said issue (hereinafter
referred to as the ?'Resolution"). The Series A Bonds are 420 in
number, numbered Al to A420, both inclusive, of the denomination
of $1,000 each, and are dated January 1, 1961. The Series A
Bonds are numbered, mature, become payable and bear Interest
as set forth in the following schedule:
Bond Numbers (incluslve) Principal Maturity Date Interest
(All bearing Prefix "A" Amount July 1 Rate
1 - 10 i 10,000 1962 4-3/4%
11 - 20 10,000 19633 4-3/4%
21 - 30 10,000 1964 4-3/4%
31 - 40 10,000 1965 4-3/4%
41 - 50 10,000 1966 4-3/4%
51 - 60 10,000 1967 4-3/4%
61 - 770 10,000 1968 4-3/4%
71 - 85 15,000 1969 4-3/4%
86 - 100 15,000 1970 4-3/4%
101 - 115 15,000 1971 4-1/4%
116 - 130 15,000 1972 4-1/4%
131 - 145 15,D00 1973 4-1/4%
146 - 16o 15,000 1974 4-1/4%
161 - 175 15,000 1975 4-1/4%
176 - 195 20,000 1976 4-1/4%
196 - 420 225,000 1986 4 %
w
ORRICK. DAHLOUIST. HERRINGTON S SUTCLIFrE
COUNSELORS AND ATTORNEYS AT LAW T.L..... I E....0 2IaO
cx AOS MONTGOMERY STREET C..L, A.... E. "ORRICK"
SAN FRANCIS= a CALIFORNIA
AIT-ao
aD. ..
ce .N C c:..L -'2'
voN...
.... .
Said interest at the rates aforesaid is payable semi-annually on
January and July 1 of each year commencing July 1, 1961. Both
the principal of and interest on the Series A Bonds are payable
in lawful money of the United States of America at the office of
the Treasurer of the City of San Luis Obispo, in San Luis Obispo,
California.
Series A Bonds Nos. Al to A195, both Inclusive, maturing
on or prior to July 1, 1976, are not redeemable prior to their
fixed maturity dates. Series A Bonds Nos. A196 to A420, both
inclusive, maturing on July 1, 1986, are redeemable, at the
option of the City, on July 1, 1966, but not prior thereto, and
on any interest payment date thereafter prior to maturity, as a
whole or in part, from revenues as defined in the Resolution and
on July 1, 1976, but not prior thereto, and on any interest pay-
ment date thereafter prior to maturity, as a whole or in part,
from funds derived by the City from any source, at the principal
amount thereof and accrued interest to date of redemption plus a
premium as set forth in Column 3 below, as follows:
Column 1 Column 2 Column
Bonds r-ec e'ened on anal pr%r to
or after July 1 July 1 Premium
1966
1972 19777gg5 31975 -1/
1978 19do 2 1/
1981D 1983 1-1/ %
1983 Maturity None
provided, however, that in case less than all of the outstanding
Series A Bonds maturing on July 1, 1936 are called for redemption,
they shall be called by lot.
The Series A Bonds are authorized to be issued in the form
of coupon bonds, registrable only as to both principal and interest,
as provided in the Resolution.
` ORRICCK. DAMLOUIST. HERRINGTON a SUTCLIFFC
COUNSELORS AND ATTORNEYS AT LAW LE E[ewOxE EANNOOe 2'N20
Ox ,OS NONiOON[Rv STREET Cx Le AOORES5 'ORRICN"
S.. FRANaarn aGuroRNu
AIGMIww pRMEir,IN
-3-
Interest upon the Series A Bonds, in our opinion, is
exempt from all present Federal income taxes and from State
of California personal income taxes under existing statutes,
regulations and court decisions, and the Series A Bonds are
exempt from all California taxes except Inheritance, gift
and franchise taxes.
In our opinion such proceedings show lawful authority
for the issuance of the Series A Bonds under the Constitution
and laws of the State of California now in force, and the
Series A Bonds are valid and legally binding special obliga-
tions secured as provided therein and in the Resolution.
We are further of the opinion that:
(1) The Series A Bonds, together with all other bonds
authorized to be issued under the Resolution, and the interest
thereon, are payable exclusively from (a) the gross revenues
from the operation of off-street parking places In Parking
District No. 1 of the City (hereinafter called the "District")
comprising the "Project," as defined in the Resolution, (b) net
on -street parking meter revenues (as defined in the Resolution)
derived by the City from on -street parking meters in the District,
and (c) limited ad valorem assessments on all taxable real prop-
erty in the District, limited as to time to 36 ears from the
date of the Series A Bonds and as to amount to *.75 per $100 of
assessed valuation of taxable real property in the District, as
provided in the Resolution. The City is not obligated to pay
the principal of or interest on any of the Series A Bonds
except from said sources, and neither the City nor any of its
officers may be held otherwise liable for the payment of
principal of or interest on the series A Bonds or any premiums
upon the redemption of any thereof. The Series A Bonds are
not general obligations or a general indebtedness of the City
and are not secured by the taxing power of the City, and the
holders of the Series A Bonds cannot compel the exercise of
the taxing power of the City, except to the limited extent of
said limited ad valorem assessments and then only as provided
In the Resolution. The City is obligated to levy and collect
such a limited assessment in any year, to the extent to which
gross revenues from the operation of said off-street parking
places in the District and the net on -street parking meter
revenues for the then current fiscal year have been, or are
0
��- - ORRICK, DAHLOUIST. HERRINGTON S $UTCLIFFE
�OUNSCLORS AND ATTOANO'S A, LAW t[1[evon3 Genoa. 2-n20
.OS MOHtGOMC4'r SREEL
or SAN FRANCNSCO O. CALIFORNIA C..;[ Aoon[SS "ORgICR
-4
<R
expected to te, insufficient to pay the principal of and interest
on the Series A Bonds and to the extent to which the Reserve Fund
established by the Resolution has been or will be used to pay such
principal and interest or to call and redeem Bonds in the minimum
amounts required to be called and redeemed from the Sinking Fund,
as provided In the Resolution, clearly sufficient to pay the
principal of and interest on the Series A Bonds or to rebuild
and re-establish said Reserve Fund to the full amount required
to be maintained therein.
(2) The Resolution provides for the issuance of addi-
tional fronds wnlch will rank equally as to security with the
Series A Bonds, regardless of the time or times of issuance of
such additional bonds, upon the terms and subject to the condi-
tions set forth in the Resolution.
(3) The City has covenanted In the Resolution to establish
and collect on -street parking meter fees for on -street parking
meters in the District and fees, rates and other charges for the
use of said Project in such amounts that the Revenues as defined
in the Resolution (excluding therefrom any limited ad valorem
assessments) pledged to pay the principal of and interest on the
Series A Bonds will be at least equal to the sum of the follow-
ing (each with respect to the then immediately ensuing twelve
months): the interest payments for such twelve months on all
the outstanding Bonds, the principal amount of all Serial Bonds
maturing by their terms during seen twelve months, the minimum
amount of Term Bonds required to be called and redeemed from
the Sinking Fund during such twelve months, and the necessary
and reasonable maintenance and operation costs of the District
parking places, all as defined and provided for in the Resolution.
(4) The City has established, as provided in the Resolu-
tion, a Parking District No. 1 Reserve Fund to be used solely to
pay the principal of and interest on Bonds issued under the
Resolution (or any part thereof), or to call and redeem Bonds
In the minimum amounts (or any part thereof) required to be
called and redeemed from the Sinking Fund, In the event that
no other funds of the City are then available therefor. Said
Reserve Fund is in the amount of $30,000 and is required to be
maintained in that amount so long as any Series A Bonds are
ORRICK. DANLOUIST. HERRINGTON S SUTCLIFFE
COVNSCLORS ^No ATTORNEYS AT I.S. lE [.nO+E E%enOOa i 1Y0
405 MONTOONERY STREET
°H SAR FRAMCISCO A. CALiFORNM CU L[ Aoon[aa "ORRICK "
wS1eN N:0
outstanding. If any additional bonds are issued under the
Resolution, the minimum amount to be maintained in said Reserve
Fund shall be the amount then equal to the maximum annual debt
service (as defined in the Resolution) on all Bonds issued under
the Resolution and then outstanding. -
(5) The resolution and the rights and obligations of the
City and of the holders and registered owners of bonds and coupons
issued under the Resolution may be modified or amended in the
manner and subject to the restrictions and limitations contained
in the Resolution.
We remain, dear sire,
Faithfully yours,
ORRICK, DAH QUIST, HERRINGTON & SUTCLIFFE
perGzcc`a^..� e c
RF wY��
OR DAHLGUIeT. HERRINGTON Bf SUTCL
C ou.eeeMa •.. ATl—.. a I.i l•w
�
TII-AYOY. a ... 0-- j..]so
wn
w. oeRur
Yotow
• u ♦ eti
n
C•eAroReu'DRpICK"
RAT. wioc�pne
5•n Fx •yC 9co I�C.� rOAMI.•
eiel, O. OI...
M. I...
ARE
OOAAIR. 1. YT<NFLe
C.11.. p B
[.A.,
R...".. n!
I
•.... DOI ...K.
SIGNATURE AND NO -LITIGATION CERTIFICATE
We, the undersigned officers of the issuer (hereinafter called the
"issuing body") of the bonds hereinafter described, holding
the
respective offices hereinbelow set opposite our
signatures,
do hereby
certify that on the date below set forth we officially
signed and
executed the following bonds, to -wit:
Title of Bonds: PARKING DISTRICT NO. 1
BONDS OF THE
CITY OF SAN LUIS
OBISPO, SERIES A
Principal Amount: =420,000
Date of Bonds: January 1, 1961
Said bonds are numbered, mature and bear
interest as set forth
in the following schedule: -
Bond Numbers (inclusive Principal
Maturity Date
Interest
(All bearing prefix "A"; Amount
July 1
Rate
1 A. 10 $ 10,000
1962
4-3/4%
11 - 20 10,000
19633
4-3/4%
21 - 30 10,000
1964
4-3/4%
31 - 40 10,000
1965
4-3/4%
1 - 50 10,000
1966
4-3/4%
51 - 60 100000
19677
4-3/4%
61 - 70 10,000
1968
4-3/4%
71 - 85 15,000
1969
4-3/4%
86 - 100 15,000
1970
4-3/4%
101 A. 115 15,000
1971
4-1/4%
116 - 130 15,000
1972
4-1/4%
131 - 145 15,000
1973
4-1/4%
146 - 16o 15,000
1974
4-1/4%
161 - 175 15,000
1975
4-1/4%
176 - 195 20,000
1976
4-1/4%
196 - 420 225,000
1986
4 %
..-6•w •. ut'O U1 __Re1GrY "Y[� �,MT
____of said
issuing body and that the seal of said issuing body is affixed
to all
of said bonds, and is impressed
hereon and
is the
(Seal) legally adopted, proper and
only official
seal of
said issuing body.
We further certify that said officers at
the time of signing
said
bonds held said offices respectively, and that
they now hold
the same.
We further certify that no litigation of
any nature is
now pend-
ing, or threatened, restraining or enjoining
the issuance or
delivery
of said bonds or any part thereof, or the levy or collection of taxes
to pay the interest and principal thereof, or
in any manner
question-
ing the proceedings or authority by which same
are issued,
or affecting
the validity of the bonds thereunder, and that
neither the
corporate
existence nor the boundaries of said issuing
body nor the title
of
any of said officers to their respective offices
is being contested.
Dated:_ /y id_.../_7—_-.-, 19.b1....
(Print Name in
Signature this Column) Official Title.
_ 'red M. waters MSyoSanfthe LUIS Obis of
__— Obispo
J. E. Boyce Ci_Sraaaurer
J. H. Fitzpatrick 01t_ClaWk
J
I HEREBY CERTIFY that the signatures of the officers above named
are genuine.
q s
Dated: �il�Y/7._._, 19_Stl_. _.._ _ _ _ a'Id::_ •t. Kc�`1'I$!! Bank.
AutVrised Officer
M. WICI{
PrmwrL OR DAHLQUIST. HERRINGTON & SUTCL�
TeLerM R 1.I1i0
T. w P .xeEU l,i CUUN,[L M, ANP An ollN 6iC ni L.w
. . Aw...
NGwIN 6TON C/.,L[ H, "OPPIC K"
GiE .UICLifR YDMOOYG. CT,e[T
BAN rwANclwx ♦. Gurowxu
Nut9 S1oMN`
LTG a. oL
cxwlno.XCwA•�[xC.
Y O. YENG
EAWO [.
e%V.xY
u ON[Y e
LNG
.xPGw eewx.. EwwE[ TREASURER'S RECEIPT
The undersigned, as Treasurer, does hereby certify that on the
date set forth below he did receive from-___.
_--_ . -.__ - OL W --- -----
as Purchaser, the purchase price of the following securities,
to -wit:
Title of Bonds: PARKING DISTRICT NO. 1 BONDS OF THE CITY OF SAN LUIS
- OBISPO, SERIES A
Principal Amount: $420,000
Date of Bonds: January 1, 1961
Said bonds are numbered, mature and bear interest as set
forth
- Bond Numbers (inclusive) Principal Maturity Date
(All bearing "A"
Interest
Prefix Amount July 1
Rate
1 - 10 $
4-3/4%
10,000 1962
11 - 20 933
43�
21 - 30 10,000 192
4_
31 - 4o 10,000 1965
4-3/4%
1 - 50 10,000 1966
4-3/4%
61 _ 0 10,000 1967
10,000
4-3/4%
192
4-3/4%
7
86 0
- 10o 15,000 197000
4-3/4�
101 - 115 15,000 1971
116 - 130
4-1/4%
15,000 1972
131 - 145
4-1/4%
15,000 1973
146 - 160
4-1 4
15,000 1974
161 - 175
4-1/4%
15,000 1975.
4-1/�
20,000 86-
196 420
4-1
- 225,000 19
%
said purchase price being computed as follows, to -wit:
Par value ............... 5 420,000.00
Premium ................. 79.25
//
Accrued interest........ _y 719 >Z
Total ............... 4f1%_79B V7
Said accrued interest was computed from_. JAINU ay-1.--1961 _.
to-_. - oW" ___ 7,, 10FOu , the date of the delivery of said
bonds to the purchaser and actual payment therefor.
Coupons maturing. .. Jnly. 4,1¢61.... , and all sub-
sequently maturing coupons were attached to said bonds at the
time of delivery. Coupons maturing_._. -none..
and prior thereto were detached from said bonds and canceled
prior to delivery of said. bonds.
Dated:_ ewe,#FX 7 1961
Treasurer of -the City of San Luis
Obispo
State of California
f
CITY TREASURER'S CERTIPICATE OF DEPOSIT
The undersigned City Treasurer of the City
of San Luis Obispo hereby certifies that on the date
hereof, upon delivery to the purchaser of $420,000
principal amount of Parking District No. 1 Bonds of the
City of San Luis Obispo, Series A, and payment by such
purchaser of the purchase price thereof the undersigned
received from the purchaser of said bonds:
(a) the sum of $ (oi%/y 7iz which
was deposited by the undersigned in Parking District
No. 1 Bond Service Pund pursuant to Paragraph (a) of
Section 3.03 of Resolution No. 753 (1961 Series) author-
izing the issuance of said bonds; and
(b) the sum of $30,000 which was deposited
by the undersinged in Parking District No. 1 Reserve Fund
pursuant to Paragraph (b) of Section 3.03 of said Resolu-
tion No. 753 (1961 Series).
DATED: /G�'9y 7 1961.
City Treasurer
City of San Luis Obispo
ADVICE OF CREDIT
'Munk of Amerirx
1J�AJ40# ASSOfIATION -
L is
660 Guu:h Spring Street _ 17 7961
s nge aaxR.H�HI
�oA+n
City Of San Luis Obispo
San Luis Obispo, California
L
—. Inc .awwnva:
J
Y�O[TACH THI9 fTUG BEFORE Pmrs"N INO.
1/1/61 $420,079.25
j 5/17 6 1 .72
572 ,79 97
i Faith OOC 00
21,79 .97
Aut q/ zed 1 ature
I
1
f
ORRICK, DAHLOUIST, HERRINGTON S SUTCLIFFE
COUN9ELORS..D ATTD4NE15 AT LAW
* A iGu 3,
T.".... EX.... PYIEO
405 M0N 40MERV STREET
.... x ix4eox
[.iD 3
SAN P..CI9C04. CALIFORNIA C.3 �[PDOw[33 "ORRICK^
...LAY
O.YNFD
t[ A. ROx„
w R[x A.n
at[n D. O�SDM
x.
[
REGISTERED - INSURED
aDx[ rc Aabwn
wA..
¢wAne [n
• r. cn.n., �
...A.. DDA."...pax May 15, 1961
Mr. J. H. Fitzpatrick
City Clerk
990 Palm Street
San Luis Obispo, California
Re: Parking District No. 1 Bonds of the City of
San Luis Obispo Series A
Dear Mr. Fitzpatrick:
We return herewith by registered mail,
Insured, executed bond No. Al of the above issue, of the
par value of $1,000, dated January 1, 1961, bearing interest
at the rate of 4-3/4% per annum, together with Interest
coupons Nos.l, 2 and 3 attached thereto, in the sum of $23.75
each. The form of bond and its execution are approved, and
our final approving opinion will be issued upon submission
of the documents listed in conditions (1), (2) and (3) of
our preliminary opinion.
Will you kindly acknowledge receipt of
the above executed bond on the enclosed copy of this letter.
Very truly yours,
Enclosure
0
ORRICK, DAHLCUIST. HERRINGTON & SUTCLIFFE
x tOUl[p COUNSELORS AND ATTORNEYS AT LAW T[t[pxpx[ F%RnOOR 2'I120
405 NONTGO, ERY STREET
L111.11.
p[ uTax SAN FRANCISCO 4.GLIEORNIA Ga[[ Aoon[s[ "ORRICK"
IUAI�AN a. ROWLEY
ORVILLE A.RONLF
nNa.Duo.R
DRe WRIE
ED
RIDx [Y [. RO.[RIA
JAM[. M
May 1, 1961
Mr. Richard D. Miller
Administrative Officer
City Hall
San Luis Obispo, California
Re: City of San Luis Obispo Parking District
No. 1 Bonds
Dear Mr. Miller:
In connection with the delivery of and payment
for the above bonds, we have prepared and enclose the following:
1. Three signed counterparts of our .preliminary
approving opinion with draft of form of final opinion attached
to each, One keing_C4�X41dL_.f le, one -for the _ City ,. Clerk and
one for the. City Attorney.
✓2. Original and one copy of opinion certification
letter addressed to the City Clerk with signed counterpart of
undated final opinion attached thereto. Please have the City
Clerk sign and return to me the copy of the opinion certification
letter. We have already submitted the text of our final opinion
to Jeffries Banknote Company to be printed on the bonds.
3. Four counterparts each of our usual forms of
signature and no -litigation certificate and Treasurer's receipt
for purchase price of the bonds, all to be filled in, signed and
dated as of the date on which the bonds are actually delivered
to John Nuveen & Co, and paid for. You should make sure that two
counterparts each of the certificate and receipt are delivered
to John Nuveen & Co. along with the bonds. rThe bond purchaser
will then submit an executed bond to us for examination together
with one counterpart each of the certificate and receipt. We
will then date and release our final approving opinion on the
bonds and will deliver signed counterparts to the bond purchaser
and will forward additicn 1 signed counterparts to you for your
file and the City's file One counterpart each of the signature
and no -litigation certificate and Treasurer's receipt should be
retained in the City's file and one of each are for your file.
Since the purchaser may not find it convenient to
bring executed bond No, Ito San Francisco for examination and
ma,,, lesirc to ship the bonds soon after closing, it might be
ORRICR, DAHLQUIST. HERRINGTON & SUTCLIFFE
Mr. Richard D. Miller -2- May 1, 1961
advisable for you to arrange to send executed bond No. 1 to me
by registered mail as soon as it is available (with an undated
but signed signature and no -litigation certificate) for examina-
tion and return to you by registered mail before the closing
time.
4. Four counterparts of City Treasurer's Certi-
ficate of Deposits in Parking District No. 1 Bond Service Fund
rr `� and Reserve Fund (as required by paragraphs (a) and (b) of
Section 3.03 of the Resolution of Issue). All counterparts of
this certificate should be dated and signed by the City Treas-
urer as o£ the date of delivery and payment for the bonds. Two
(,J counterparts of this certificate should be delivered to the
purchaser along with the bonds, one should be retained in the
i City's file and one is for your file.
5. Our statement for services rendered in this
matter in the amount of $4,200, being 1% of the principal amount
of the bond issue.
I shall appreciate your submitting this statement to
the Council for approval and payment out of the proceeds of sale
of the bonds.
If you have any questions concerning any of the en-
closures or any of the foregoing, please let me know.
Very truly yours,
Enclosures
cc: Mr. William M. Houser, Jr.
City Attorney
ORRICK. DANLOUIST, HERRINGTON S SuTOLirre
Cou gsCwgs mo ATroaa ps Ar Lew
•OS O 45CO <MCPY GtllSi O
FER
o• SAN FPANCISC. gMlA
April 27, 1961
Council of the City of San Luis Obispo
San Luis Obispo County, California
Dear Sirs:
Tavaow, c.... *P a-1Q0
CAP\[ A...[11 '0OMPICK"
We hereby certify that we have examined a certified
copy of the record of the proceedings relative to the issue of
$420,000 principal amount of serial bonds of Parking District
No. 1 of the City of San Luis Obispo, Series A. Our final
opinion in the form attached will be issued upon submission oft
(1) City Treasurer's Certificate of Deposits in
Parking District No. 1 Bond Service Fund and
Reserve Fund;
(2) the usual signature and no -litigation certiri-
cate;
(3) City Treasurer's receipt for the purchase price
of said bonds; and
(4) one executed bond for inspection.
We remain, dear sirs,
Faithfully yours,
ORRICK,, DAHIQUIST,HERRINOTON & SUTCLIFFS
per icy
m o,...ORRICK, DAHLOUIST, HERRINGTON S SUTCLIFFC
COUNSELORS AND ATiORNE15 AT LAW T[LC—o N[ E2,ROO. 2'1120
_ AOS MONiGOnLRY STREET
oN SAN FRANCISCO A. CALIFORNIA CRSLL AOoll [55 "ORMIC M"
D R A F T
Council of the City of San Luis Obispo
San Luis Obispo County, California
Parking District No. 1 Bonds of the _City of San _Luis Obispo
TPT Series
(San Luis Oblap o Count -ate of California)
na p n on
Dear Sirs:
We hereby certify that we have examined a certified L
copy of the record of the proceedings submitted to us relative to
the issuance of $420,000 principal amount of Parking District No.
1 Bonds of the City of San Luis Obispo, Series A (hereinafter
called the "Series A Bonds"), issued under and subject to the
provisions of the Constitution and laws of the State of California,
including the Parking District Law of 1951, and under and pursuant
to the provisions of Resolution No. 753 (1961 Series) adopted by
the Council of the City of San Luis Obispo (hereinafter called the
"City") on March 20 1961, authorizing said issue (hereinafter
referred to as the 'Resolution"). The Series A Bonds are 420 in
number, numbered Al to A420, both inclusive, of the denomination
of $1,000 each, and are dated January 1, 1961. The Series A
Bonds are numbered, mature, become payable and bear Interest
as set forth In the following schedule:
Bond Numbers (inclusive) Principal Maturity Date Interest
(All bearing Prefix "A") Amount July 1 Rate
1 - 10 ; 10,000 1962 4-3/4%
11 - 20 10,000 1963 4-3/4%
21 - 30 10,000 196L4 4-3/4%
31 - 40 10,000 1965 4-3/4%
41 - 50 10,000 1966 4-3/4%
51 - 60 10,000 1967 4-3/4%
61 - qq0 10,000 1968 4-3/4%
71 - 85 15,000 1969 4-3/4%
86 - 100 15,000 1970 4-3/4%
101 - 115 15,000 1971 4-1/4%
116 - 130 15,000 1972 4-1/4%
131 - 145 15,000 1973 4-1/4%
146 - 160 15,000 1974 4-1/4%
161 - 175 15,000 1975 4-1/4%
176 - 195 20,000 1976 4-1/4%
196 - 420 225,000 1986 4 %
ORRICK, DANLOUIST. HERRINGTON & SUTCLIrra
COVNSEiORS AND ATTORNEYS AT LAW Tun.... CA ..... '-NYO
.OS MONTGOMERY STREET
CAbi[ AOOA{55 "ORRIC K^
SAN FRANCISCO A. CALWORNIA
.2-
e�o..•cc
.. o.n eoMNc. c«NcN
Said interest at the rates aforesaid is payable semi-annually on
January and July 1 of each year commencing July 1, 1961. Both
the principal of and interest on the Series A Bonds are payable
in lawful money of the United States of America at the office of
the Treasurer of the City of San Luis Obispo, in San Luis Obispo,
California.
Series A Bonds Nos. Al to A195, both inclusive, maturing
on or prior to July 1, 1976, are not redeemable prior to their
fixed maturity dates. Series A Bonds Nos. A196 to A420, both
inclusive, maturing on July 1, 1986, are redeemable, at the
option of the City, on July 1, 1966, but not prior thereto, and
on any interest payment date thereafter prior to maturity, as a
whole or in part, from revenues as defined in the Resolution and
on July 1, 1976, but not prior thereto, and on any interest pay-
ment date thereafter prior to maturity, as a whole or in part,
from funds derived by the City from any source, at the principal
amount thereof and accrued interest to date of redemption plus a
premium as set forth In Column 3 below, as follows:
Column 1 Column 2 Column
Bondss reTeened on and pr' r to
or after July 1 July 1 Premium
1966
196595 19777g2g 3-1/ %
197787z8 1980 2-1/2%
19811 1983 1-1/ %
1983 Maturity None
provided, however, that in case less than all of the outstanding
Series A Bonds maturing on July 1, 1986 are called for redemption,
they shall be called by lot. The Series A Bonds are authorized to be issued in the form
of coupon bonds, registrable only as to both principal and interest,
as provided in the Resolution.
ORRICK, DAHLOUIST, HERRINOTON S SUTCLIFFE
COUNSELORS ANo ATTORNEYS AT LAW 1ILL1.ON1 E9..... s'.ZO
.IOUrs. ♦OS v1.1... ERv sTREET
TRII 11
- SAN ERANCISCO I. CALIFORNIA
A1"ILI 1•OM1wi',JM
0 90x
.ExNE
-3-
+u•
.No.E. oR-Nc. o.ac.
Interest upon the Series A Bonds, In our opinion, 1s
exempt from all present Federal Income taxes and from State
of California personal Income taxes under existing statutes,
regulations and court decisions, and the Series A Bonds are
exempt from all California taxes except inheritance, gift
and franchise taxes.
In our opinion such proceedings show lawful authority
for the issuance of the Series A Bonds under the Constitution
and laws of the State of California now in force, and the
Series A Bonds are valid and legally binding special obliga-
tions secured as provided therein and in the Resolution.
We are further of the opinion that:
(1) The Series A Bonds, together with all other bonds
authorized to be issued under the Resolution, and the interest
thereon, are payable exclusively from (a) the gross revenues
from the operation of off-street parking places in Parking
District No. 1 of the City (hereinafter called the "District")
comprising the "Project," as defined in the Resolution, (b) net
on -street parking meter revenues (as defined in the Resolution)
derived by the City from on -street parking meters in the District,
and (c) limited ad valorem assessments on all taxable real prop-
erty in the District, limited as to time to 36 years from the
date of the Series A Bonds and as to amount to $.75 per $100 of
assessed valuation of taxable real property in the District, as
provided in the Resolution. The City is not obligated to pay
the principal of or interest on any of the Series A Bonds
except from said sources, and neither the City nor any of its
officers may be held otherwise liable for the payment of
principal of or interest on the Series A Bonds or any premiums
upon the redemption of any thereof. The Series A Bonds are
not general obligations or a general indebtedness of the City
and are not secured by the taxing power of the City, and the
holders of the Series A Bonds cannot compel the exercise of
the taxing power of the City, except to the limited extent of
said limited ad valorem assessments and then only as provided
in the Resolution. The City is obligated to levy and collect
such a limited assessment in any year, to the extent to which
gross revenues from the operation of said off-street parking
places in the District and the net on -street parking meter
revenues for the then current fiscal year have been, or are
u
ORRICK. DAHLOUIST. HERRINOTON S SUTCLIFFE
COUNSELORS AND ATT ONNEYS AT I.AN
ACE NOMOONERI STREET
SAN FRANCISCO A. CALIFORNIA
wN.R.R�w 05R�MNRL
Tu[....E EA.-..- 2- IZO
CULEAO..[.. "ORRICK'
expected to be, insufficient to pay the principal of and interest
on the Series A Bonds and to the extent to which the Reserve Fund
established by the Resolution has been or will be used to pay such
principal and interest or to call and redeem Bonds In the minimum
amounts required to be called and redeemed from the Sinking Fund,
as provided in the Resolution, clearly sufficient to pay the
principal of and interest on the Series A Bonds or to rebuild
and re-establish said Reserve Fund to the full amount required
to be maintained therein.
(2) The Resolution provides for the Issuance of addi-
tional bonds which will rank equally as to security with the
Series A Bonds, regardless of the time or times of issuance of
such additional bonds, upon the terms and subject to the condi-
tions set forth in the Resolution.
(3) The City has covenanted in the Resolution to establish
and collect on -street parking meter fees for on -street parking
meters in the District and fees, rates and other charges for the
use of said Project in such amounts that the Revenues as defined
in the Resolution (excluding therefrom any limited ad valorem
assessments) pledged to pay the principal of and interest on the
Series A Bonds will be at least equal to the sum of the follow-
ing (each with respect to the then immediately ensuing twelve
months): the interest payments for such twelve months on all
the outstanding Sonde, the principal amount of all Serial Bonds
maturing by their terms during such twelve months, the minimum
amount of Term Bonds required to be called and redeemed from
the Sinking Fund during such twelve months, and the necessary
and reasonable maintenance and operation costs of the District
parking places, all as defined and provided for in the Resolution.
(4) Tne City has established, as provided in the Resolu-
tion, a Parking District No. 1 Reserve Fund to be used solely to
Pay the principal of and interest on Bonds issued under the
Resolution (or any part thereof), or to call and redeem Bonds
In the minimum amounts (or any part thereof) required to be
called and redeemed from the Sinking Fund, in the event that
no other funds of the City are then available therefor. Said
Reserve Fund is in the amount of $30,000 and is required to be
maintained in that amount so long as any Series A Bonds are
�IYM1'OA1R:'AAP
c ow..o
xT5
ORRICK. DAMLOUIST. HERRINOTON & SUTCLIFFE
COUNSELORS AND ATTORNEYS AT LAW
405 NONTOONERY STREET
SAN F..OSCO { CALIFORNI.
-5-
TTa..ON[ EMuo0.2 N20
C.uE AR..(SS 'OPPICK"
outstanding. If any additional bonds are issued under the
Resolution, the minimum amount to be maintained in said Reserve
Fund shall be the amount then equal to the maximum annual debt
service (as defined in the Resolution) on all Bonds issued under
the Resolution and then outstanding.
(5) The resolution and the rights and obligations of the
City and of the holders and registered owners of bonds and coupons
Issued under the Resolution may be modified or amended in the
manner and subject to the restrictions and limitations contained
In the Resolution.
We remain, dear sire,
Faithfully yours,
ORRICK, DAHLQUIST, HERRINGTON & SUTCLIFFE
per
R..IDF
e. roax.n ORRICIE. DANLO UIBT. HCRRINOTON S SUTCLI►/C
COUNSELORS AND ATTORNEYS AT LAW T[Lp...L EA..... b160
4LOms, 1O3 NONfGONLRY SIREET
oco.ac xc..IxoTDx CARLE A ... E44 "ORRICK'
MIc smeurR SAN FRANCISO, 4. CALIF
ORNIA
O4vMl [ A.—.0
4 O .NFL[
O[x
[ MS[ar4[
AN LI•x. L[N4[.
�wonrxARD WALE[. _^^^•' April 27, 1961
. Dow4[. O..iCF
Mr. J. H. Fitzpatrick
City Clerk
City Hall
San Luis Obispo, California
Parking District No. 1 Bonds of the City of
San Luis Obispo, Series A
Dear Mr. Fitzpatrick:
IN TRUST we enclose one signed copy of our final
legal opinion covering $420,000 principal amount of the above
bonds. This opinion is in the form of the final opinion which
will be printed on the reverse of the above bonds immediately
following your certificate to the effect that such opinion is
on file in your office. Accordingly, you are authorized to
date the opinion as of the actual date of delivery of and pay-
ment for the bonds, subject to the condition that the bonds are
In fact executed and payment of the purchase price fully made,
and that you will obtain and forward to us the following:
1, the usual signature and no -litigation certificate;
2. City Treasurer's receipt for the purchase price
of the bonds.
Please confirm the foregoing on the enclosed
copy of this letter.
Very ,ttruly yours,
Enclosure
J. B. HANAUER & Co.
N V NiCi A..I \ONDB
....1CIPA. n.Avcuc
covsYuwvT\
City Council
City of San Luis Obispo
City Hall
San Luis Obispo, California
Gentlemen:
\OVtRLY M)W.GWMnNY
Tno.o.o csumz. �-u•a
eN.oz+.. z-vu Rro. l.... P.o...I
April 11, 1961
For $ 420, 000 par value legally issued Parking District No. 1 Bonds, Series A
, scheduled to be Yp
from 19 stu on April 12, 1961
maturing serially on u 62 to/19, and subject to all of the
terms and conditions of your official Notice of Sale, we will pay the par value thereof,
plus accrued interest to the date of delivery, for bonds bearing interest as follows:
Bonds maturing in the years 1962 to 1976, inclusive - 4 1/2%;
Bonds maturing in the year 1986 - 4 3/8%D.
In addition, we will pay a total premium of $ 17. 50
This bid is made for immediate acceptance and subject to the unqualified approving
legal opinion of Messrs. Orrick, Dahlquist, Herrington & Sutcliffe , to be
furnished to us at Your expense, and to be printed on the bonds.
We enclose cashier's check No. 10009047 , in the amount of $ 5, 000, 000 to be held
uncashed by you as evidence of our good faith. This check is to be returned to us if
the above mentioned attorneys do not approve the legality of the bonds, or to be for-
feited as full liquidated damages if we fail to fulfill the terms of this proposal. This
check is to be immediately returned to us if this proposal is not promptly accepted.
This bid is submitted in duplicate, one copy to be officially signed and returned to us
if we are awarded the bonds.
Estimated Interest Cost:
$ 333,460.00
Average Net Interest Cost:
4.405019 %D
Very truly yours,
J. B. HANAUER & CO
By,; {% ,a -
The foregoing proposal is hereby accepted on behalf of the above named
City Council , and receipt of the cashier's check is hereby acknow-
ledged.
Date Authorized Signature
CORRESPONDENTS J. n. HANAUER A CO. NEWARK, N. J.
Finn CALIFORNIA COMPANY
INVESTMrNT yECU RITIES
April 11, 1961 ]DOLM.ONTGeM M.RYERT 'TRE STPEET
City Council
City of San Luis Obispo
Council Chambers
City Hall
San Luis Obispo, California
Gentlemen:
For all of the bonds, Four Hundred Twenty Thousand Dollars ($420,000)
Parking District No.l Bonds of the City of San Luis Obispo, Series A, as
described in your Notice of Sale dated March 20, 1961, the conditions of which
Notice are hereby m ,e a part of this bid, we bid you the sum of Far (100% of
the face value), plus accrued interest to date of delivery, plus a Premium of
$7.50, for brads bearing coupon rates as follows:
4 1/4% for bonds maturing July 1, 1962 through July 1, 1968
and
4.40% for bonds maturing July 1, 1969 through July 1, 1986
Enclosed is our Good Faith Check in the amount of $5, COO. If we are
not the successful bidder, please return this check to the above address.
This bid is for acceptance within a reasonable time.
Yours very truly,
FIRST CALIFORNIA COMPANY
LM a Lenard Ma_
/ yriech Jr,�
f
NOTE: The following is for information only. We compute the net interest
cost to the City on the above bid to be $332,600 or an average net interest
cost of 4.39365%.
e �
DEAN WITTER iic CO.
INvzzrmcNT
•
•4Nxanz
S,N kP I.NC18C0
nEwvOPPE9
♦! MONTOOM[RY [TR[[T . [1X PR,NCI[CO •, C1ll i.
lPI1ROOP SY 311
Y [Mt[ns xtw vOsn Sv oex [. Cysxa[ OFF C�.Ie eo[el [vOCn [[cxsxa[xinw [av
se Oen [[c y.xaL
sx0 FFixciN� .....Oahu ..ervsxp [[
April 11, 1961
Council of the
City of San Luis Obispo
Council Chambers
City Hall
San Luis Obispo, Calif.
Gentlemen:
For the legally issued :$420,000 par value PARKING DISTRIC NO, 1 BONDS OF THE CITY
OF SAN LUIS OBISPO, SERIFS A. dated January 1, 1961, and maturing from 1962 to 1976,
inclusive, and in 1986, as shown in your Notice of Sale:
FOR SAID BONDS MATURING FROM 1962 TO 1969, INCLUSIVE', BEARING INTEREST AT THE RATE OF
SIX PERCENT (6%); FOR SAID BONDS MATURING FROM 1970 TO 1976, INCLUSIVE, BEARING INTEREST
AT THE RAT: OF FOUR PERCENT (4%); FOR SAID BONDS MATURING IN 1986, BEARING INTEREST AT
THE RATE OF FOUR AND ONE EIG'LTTH PERCENT (4 1/8`i, );
P;r W'ILL PAY YOU PAR AND ACCRUED INTEREST TO DATE OF DELIVERY, AND IN ADDITION THERETO,
A PPaUUM OF NINETY-FP/E AND NO/l0O DOLLARS ($95.00).
As w.. evidence of good faith, we hand you herewith a certified check in the amount
of $5,000.00, which is to be used as part payment if the bonds are awarded to us. If
the award is not made to us, said check is to be returned immediately.
This bid is made in accord with your printed Notice of Sale.
Very truly yours,
DEAN WITTER & CO.
FRANCIS 1. duPONT & CO.
LAWSON, LEVY, WILLIPM & STERN
ay
James M. Wiley
JMN:gy DEAN WITTER & CO.
Encl: certified check
P.S. According to our figures, total interest cost from the date of the bonds to
maturity on the basis of the above bid is $3181821.88
Less Premium of 95.00
Net Interest Cost of $318,726.98
This figures an average interest cost of approximately 4.210390.
• • cwnls-41.YF5
MERRILL LYNCH, PIERc E, FENNER Fi SMITH
1 0 1 M O N T Ci C0 MpP[A Y 5 T F1 A. E T
April 11, 1961
City Council of the
City of San Luis Obispo
Council Chambers, City Hall
San Luis Obispo, California
Gentlemen:
For the 6420,000 par value of Parking District No. 1 Bonds of the City of San
Luis Obispo, Series A, which are offered for s�.1e in accordance with your pub-
lished notice of sale, said bonds being dated January 1, 1961, and in the
denomination of $1,000 each interest, payable semi-annually on January 1 and
July 1 in each year, the first coupon being for interest from January 1, 1961
to July 1, 1961.
$85,000 Dar value maturing July 1, 1962 to July 1, 1969, both inclusive,
to bear interest at the rate of Five per centum (5b) per annurn.
4110,000 per value maturing July 1, 1970 to July 1, 1976, 'both inclusive,
to bear interest at the rate of Four per centum (4%) per annua.
$225,000 par value maturing July 1, 1986, to bear interest at the rate
of Four and Twenty -One -hundredths per centum (4.20%) per annumm.
We will pay .5420,000 which is the par value thereof, together with a premium: of
$92.40 and accrued interest to date of delivery. This hid is made with the
understanding that the unqualified legal opinion of Messrs. Orrick, Dahlquist,
Herrington & Sutcliffe, of San Francisco, California, an in all respects
the validity of this issue, will be furnished at no cost to ourselves.
We enclose herewith a certified check in the amount of :i5,000 as evidence of our
good faith. If we are awarded the bonds you may apply this check as Dartial
payment thereof, otherwise please return it promptly to us.
In the event that ours is the high bid, we would appreciate being advised as to
the name of the firm which will print the bonds.
For information purposes only, we compute the net interest cost to be $318,607.60,
which is 4.208819%.
Respectfully submitted,
1022ILL LYNCH, PIERCE, FEjjNER & afITH, INC.
AND ASSOCIATES
Bykic�.
ey nklin, Vice President
�M' 141M1 iM ca-, m -,
N V55 tlVILU1NG
MAN FRANl79CO. 4
BLLYTHCO
+.•..
April 11, 1961
Honorable City Council
City of San Luis Obispo
Council Chambers - City Hall
San Luis Obispo, California
Sirs:
For all (but not less than ell) of $420,000 par value legally issued revenue
bonds designated "PARKING DISTRICT NO. 1 BONDS OF THE CITY OF SAN L.UIS OBISPO,
SERIFS A" described in your Official Notice of Sale dated March 20, 1961, which
is incorporated herein by reference, we bid you par and accrued interest to
date of delivery together with a premium of !TE
($1.00 ) Dollars for:
$402000.00 r value of bonds, maturing July 1, 1.962 to 1965 ,
W 7a, beer interest at the rate of Six
per centum, per annum; and
$155 000,00 r value of bonds, maturing July 1, 1966 to 1976 ,
-�o or
interest at the rate of Four
( 4 }) per centum, per annum; and
$225 000,00 r value of bonds, maturing ^4 1, 1916 �700¢
to bb)mr interest at the rate of Four & Ten 6ne R �redths
( L_10 }) per centum, per annumi ANC
par value of bonds, maturing July 1, 19_ to 1
ino naive, interest at the rate of _
( $) per c t�s„_Qer ergs;
$ per valu a, maturing 19 to 19_1
lnolusives — ---r interest at the rate of
(I. }) per centum, per annum.
We understand that the unqualified approving opinion of Messrs. Orrick, Dehlqudat,
Herrington & Sutcliffe, San Francisco, California, will be furnished us without
charge.
As evidence of our good faith in making this bid, we enclose our cashier's check
in the amount of Five Thousand ($5,000.00) Dollars. This check is to be retained
by you as part payment for these bonds if our bid is accepted; if not, we would
appreciate your returning it to us promptly. In the event we are the successful
bidders, we would greatly appreciate receiving the name of the firm that is to
print the bonds.
Respectfully submitted,
BLYTH & CO., INC. (Manager)
and Associates
Note: For your information, we By -
estimate the total net interest Blyth & Co., Inc.
cost to be $310,936,50 ,
or at a net interest rate of
f:,lJ7u8 �.
Per
M. 1Z. Reiner
Municipal Department
En.bhi h.d 1699 • Incor9or.vd 1913
210 WEST SEVENTH STREEOS ANGELES 14, CALIFORNIA
hlnxonf MAo150N 7-6291
(M it 1)'3 Ed UAkt
April 10, 1961
Honorable City Council
Council Chambers, City Hall
San Luis Obispo, California
Gentlemen:
Attached are two copies of our bid form on
$420,000 San Luis Obispo Parking District Bonds
selling April 12.
In the event we are the successful bidders, we
would appreciate your signing and retuning to us
the duplicate copy of our bid form for our files.
Should we be unsuccessful in winning the bonds
it would be greatly appreciated if you could return
our good faith check at your earliest convenience.
Should you have any questions regarding the details
of our bid, please do not hesitate to call us collect
at MAdison 7-6297 in Los Angeles.
RWI:pt
Attach.
Sincerely ,
JOHN NOVEEN & CO.
Robert W. Impey
i
TAX-FREE PUBLIC BONDS .... EXCLUSIVELY SINCE IR98
t Nlt AnO Nov ,oa AM1AxTA .oiTYN 40ti Y.uf DST.4It 1.u5 ANGa11 MIANI DMANA SEATTL. a. PApL
`/UM c4;M_J*ire 1t5 SOUTH LA SA• STREET, CHICAGO 3, ILLIN09S
Fo.bu,brd 1998 . Iacar9.n[ed 1933 TALE, ... I FIN<NOa a .,.,
LOS ANGELES OFFICE
Honorable City Council
E10 VIES, Se,enth Street, Lon AnKnles li, California
Council Chambers, City Hall T.Ieoh.,n. Nadi-1.6211
San Luis Obispo, California April 12, 1961
and a premium of $79.25
WE WILL PAY$ 420,000.00/ , plus accrued interest to date of delivery, for your legally issued 8..ritiO,
as /.flows:
$420,ODO City of San Luis Obispo. San Luis Obispo County, California, Farkla8
District No. 1, 'Series A Bonds, matuting -
$10,000 - July 1, each year 1962 to 1968, inclusive
15,000 - July 1, each year 1969 to 1975, inclusive
20,000 - July 1, 1976
225,000 - July 1, 1986
Redemption shown on reverse side.
and bearing interest at the rate of -
7. per annum for bonds maturing in the years 19�_ to 1970 , inclusive
4 1 4 % per annum for bonds maturing in the years 19_Z.L_ to 191jL, inclusive
—% per annum for bonds maturing in the years 1986 eo-1---- r-ia3slueive
------- 4-per ameum-fosbonds-aawgipg-is-the -yeast-19�_ __w _y9�__, _luclueive
Said Securities shall be dated January 1, 1961 . be in the drnowination of $1.000, aaith principal End a annual
interest (payable July 1, 1961 and semi-annually thereafter) payable at the office of the
city Treasurer of gam Luis Obispo, California.
Prior to our accepting delivery of said Securities, you agree to furnish a certified transcript of all documents and legal proceed-
ings requisite to their issuance and delivery, including the signature and non -litigation certificate in rusconiary market form, evi-
dearing the legality of said Securities and the security provisions relating thereto to the satisfaction of Messrs. Orrick,
Dahlquist, Herrington 6 Sutcliffe, Sea Francisco, California,
.,hare unqualified approving legal opinion in customary market form shall accompany said Securities at delivery, and said delivery
ska11 be made to us within a reasonable period of time.
To evidence our good faith, we enclose Cashier'9 check in the amount of $ 5,000.00 . If this ii is
accepted, raid check sball be held by you uncooked at;/ delivery of said S ...III,,, but in Ib event of AT breach by as in the
perfomunnce of this contract, said check may be cashed and the proceeds retained by you as full liquidated damages for such breath,
sad the lniktng of ,nth eheck,n such ",cut'bull , UnStllnte 4 full re/rase and discharge of all damages. If said Bond .Ittarneys Her
unable to appr„te said Securities, or in the event of a breach offthis contract by you, said check shallma be returned to us upon dend.
This bid is made for jusplaWftaccearcince or r,j,Ctionlx' #CAF$vffrr, is not accepted, said Dood faith check shall be returned
to us immediately.
It is mutually understood and agreed that your acceptance of this offer and the execution thereof by your officials Arreant, duly
authorized, shall constitute a contract for the purchase and sale of said Securities.
Respectfully submitted,
For infmmnion oily: JOHN NIIYEEN Ss CO.
FiRuro a, of. Janusiy 1, 1961
Gres.. Inrno., C.f1 $ 'Ll0 30jk 5
4s. premium 79.25
%m discount NET astir. sac. t 310,227.00
Are,A,, rase _ 4-0981
Accepted for nad ox behalf
i
part ... 1 to authoritatinn by its governing
body, and receipt of the above mentioned check acknowledged, on this date...... _... __.._._ ._. ....._..19_.._..
Asters_..___... _ __.._...-._ _..... .......... .._......._..._ ._. _.......__ _ _
sir�am.t Siana[..rr
ITR.i.I riE. 1)Frcial title 1.
(SEAL.)
es
TAX-FREE PUBLIC BONDS... EXCLUSIVELY SINCE 1898
[ Nil .1.0 out. Vain ATLANTA 0021ON CINEInN.,L aaT'mn ens av Ca,.e aa.,n. . ,t.rTLa . ,r. PAUL
STONE & YOUNGBERG
D.x[• BreN• MUNICIPAL FINANCING CONSULTANTS
J CMuft y [xa xnE. Bn..
B[ru4xlx J. &.ux`f 1314 RU55 BUILDING W BunxtTr
a. Gnofa SAN FRANCISCO 4 1)- E n
DOx M. ... Eow.x T We & Jx
B.wwv N.N[wx.x YUxON I.1314 El[xen p. xltu.xa
March 23, 1961
Mr. Richard D. Miller
Administrative Officer
City Hall
San Luis Obispo, California
Dear Dick:
Enclosed is a printed copy of Resolution No. 753 in the form in which it is
being mailed to prospective buyers of the bonds. Please note the form of the last
two pages, which include the record of the vote and the Clerk's certification.
I erroneously advised the printer that the Mayor's approval and the Clerk's
certification were dated March 20, the date of the meeting, while the certified
copies forwarded to the printer and to bond counsel showed a date of March 21 .
This is a minor technicality but Edward Mitchell of Orrick,. Dahlquist,
Herrington & Sutcliffe believes the Mayor and Clerk should repeat their actions in
approving and certifying this resolution, both as of March 20, and that the city
should instruct Mr. Mitchell to change the date on the certified copies which are
in his file. In this way there will be no possible confusion as to the proper date.
You will note also that the printer used only the last names of the council-
men instead of full names as shown on your certified copy. This is unimportant in
Mr. Mitchell's opinion and no possible confusion could result. You should be
aware of this difference, however, in case anyone asks you about it.
Sincerely yours,
STONE & YOUNGBERG
Richard M. Bartle
RMB:bp O`6g�Q5V4'�'
cc: Mr. Edward Mitchell
11
In The Superior Court of The State of California
In and for the County of San Luis Obispo
OFFICIAL NOTICf OF PALE '
AFFIDAVIT OF PUBLI' PA.K.NO OIGMCT NOlIe.o I oEe ANe zrTv of sAN wo,
' xorit'x Is XER9:eT aiv8..\ m•I It 1 t s '. k will 9r r.•ekbd
F� Ne lsw of IMt) r hart Lute u96Do 't r k DM W, edb'
Lub Obirye County, au(rn •t the Cew rr ch. LI) H•11.
"o Luln ebigr, Mn WOW obwl. C ootl LYllr t•, etl
WED\xeDAT. ABBLL' 1r lddt
No.........................
Za..Ghe.. Ma.>iter._ of_, Parking. l)ietric t.._No.,.__ 1
Bonds._... Seri ..A.... �l )3.............................
STATE OF CALIFORNIA.
County of San Luis ObLpo
I am a citizen of the United States and a resident of the
County aforesaid; I am over the age of eighteen and not
interested in the above -entitled . matter..._____,.,.,._,_._,___
._.; I am now, and at all times embraced
ItWE: rixLrM, een IenTym (Vb berWe r Me benos.'L "..
f +1.WV •C9, Mhd AI to A1JM EOV, blrlwlyd,
d..11.•t"P klvr DlaMet no. 1 Not'4 or
t9. CloIor aev L9ir,
Obom OATS, The &H,o A lonb.•n d!kd J.., I. t1x61..:.
INTExyT xATEI .Y' Inpw ..1 1. n ..td p'let, •)l Ju1�T i r.
Ivlerpt r hleri "Isntha•1WnV•dMnE)8i1tI8Md for m I t y! Vp„•hn Btddan
111 Ill ye}v,�t na to efd dnrerost kr et invrv»t vr.T'IdrE (lest 11
Eevda nr YrY a m•turltT Mll bqf tin. • to M 19'Npc WL
so brand 9e: beer more Nu) o to or inr.—I n n Oun aI✓
dC to IMMr r Intenrt sTment, nd that I.I eilm9m
i[tennV9i' bel9een iMakweat �A T9r MEAp mu.dn 2ll, ed
1n av>' 91d •IWI of d 9°n. The I. -- Hle r.t _.I'. an�
:m' bid wt N In • multiple' ee I/t ee l/rt er lei Tee. nA 9rs-
ble •rareinld.
MATUItITIEe: m 1-i ceder ft. levee W MANe. O lro ols:
in the herein the
`AArlD• 'nd'
publication mentioned was, principal clerk
,
r torso to
of the printers and publishers of the EAN LOIi Oai}O
Wd�ov
m'^0D
ra,00i
COUNTY TELEGRAM-i)IIMIIINr a newspaper Of general Cif-
ItEDENRTION: EOMr an or ptlorobtsbNoNd �o lul to AbJ,
Me Prior to tbelr Ilzed mama' dates. iundl
AlvJ.
eulation, printed and published daily, Sundays excepted, at
Ntb InrlueFe. nnlunnE on Jv1T 1, y1Eri.
9�tenona s ryi,.ne'8.ie {Mln•1ltrMyito rtto TUDtVrll
y n. h— ee deYNd m t9e xYaun o
the City of Son Luis Obispo in the above named county and
Wt Ird Drlar Neretq . d en •nr Inlrnet ...
�In rtn n."•tnsl':e�.=� *,IV �prpnlo srt.•Ie e:r
e eewv.t .etotllowendrmnpw vermlvm u
state; that --- .QF.FI.QIAL..NQTIQ,6--- QF..3A7d'r.......... .._._..._`
n ,
coat. ndam.o a r.
vur JWr I .no "N, a Julr I
.. ...... _.._. ...-
x9
IfiJ 1115
I17'
I Y.n 19iP
t8;v I950
1.8 M.Iuniv
of which the annexed clipping is a true printed copy, was Dronded, bowe.dr. lest n run 1.
♦ BnMn ZUrot o9 Ju1' r, 1
published in the above -named newspaper and not in any •Nit a coed hl rat. Tb att,
or. "I Boise u to be r&fl d llr
supplement thereof -on the following dates, to -wit: W.
ignlo sal8 Aadop v tvgM,.
Mar. 2.3.r.. 1961
_._................. ........ .._... _..._ ___... ...... .
that mid newspaper was duly and regularly ascertained and
established a newspaper of general circulation by Decree
entered in the Superior Court of San Luis Obispo County,
State of California, on June 9, 1952, under the provisions of
Chapter 1, Division 7, Title I of the Government Code of the
State of California.
1 certify (or declare) under penalty of perjury that the fore-
going is true sad Corr
lfred ar Si un of Principal Clerk)
/fair _:._....... ..._......._.....................�h._�3..........._. 19.6.1
r'1
A=1
sMV1111m Am
A
OFFICIAL NOTICE OF SALE
goo
PARKING DISTRICT NO.
OSISv0.,J6[R 6i ^HE CITY OF SAN LUIS
NUTICE IS HEREBY GIVEN that soled pepomala will be received
by the Council of the City of San Lute Obispo. gm Lulu Obispo. Sea
cuteL..17hbounty'California, at the Council CMmbels. City Hall,
po, pen Luis Obispo County, Califorlow on
WP.DNESDAY, APRIL 19. Bill
e( Par0801n g, Dlstri tt N h 1 Bofor nds of the1e�YetYYf* 'n Lprincipal
e OE epo. Series
A. mlhe, ad to be Issues der the V vdlone I resolution f the
C9une11 adopted Merely Al. 1961 (hem niter alley the 'Resolution I.
The Bonds mom Particularly described in the Resolution (which
In for -
shed n me, lnlematedd herein ybidderen no. rpuest d a saithereof
ba d. will offered
I8` f ibe 9t deb ed Highwway. District
the State1 of Capture$ Division
luue: $4W.000. committing of 420 bonds of the denomination
designated ParkinglDsitrict,Me. 1 Bonnd. loftot
heeMCitybnof Sano"Luis
Obispo, Beriee A.
DATE: The Series A Bonds ere "led January 1. INS,
INTEREST RATE: Maximum not to e.'s d 8% Par • cues. Pay-
ble a ii-annually m JanWry 1 ❑ July 1 re
each year Commences{ July 1. I981 Ell ders mat pec¢y the le of
Interest which me bond. Xeeby ifered for le .ben be Bidder.
bond. ` tPaadyflm, tmaulatr if bellmbevt the fe InterestreProvided eereiG lMet
n bone may nbeeeer more Ma: one rate of interest n e man n
" port tp evidence osv In[.rest permmt, nd that the maamu"irei
eilfemnead between the sweet anJ the high Co.,.. roes n ed
« n y bid shell of exceed z%. The mte... t rate mM. stated In
My
must be in a multiple of 1/8 or I/W of 1% Per an nay-
anr a. eresad.
MATURITIES: mericel order from lower to hgheraas follows
Maturity Dam
A 10" (AIIYUJnlinci ualv.)
j 10.000 1N9 - 1998
W.."A 1N0 - 1095
ko,M 1918
jM.WO 1888
REDEMPTION: Bonds Wring numbered
uor rn prior to July 198 Mid, are
t redeeen-
AaO.p Nr Inclusive their fixed turing on ulya`e.1986,Bonds r numbered redeemble. at to
the
Internet Peyment Ydo.lh-1.flerB pllrior[toor laroty, me a oad ho]. osln
Barbs i morevenues
ar n es m defamed In the Resolution and on July 1. 1919.
payment date thereafter
prhor In aturiy. as and
no 1. pan. from fonds dertvoa by the
Cityfrom
b lisle of redempti o`p4us a premium —tot thereof and
Column
3 below. me follow.'
column 1 Column 8 Column j
Send. redeemed in or
after July 1 cad poles ed July I Principle
INS 1972
1976 34%
1918 1978 94%
1979 1980 2 %
lady 1991 14%
1911 1989 1 %
198.1 Maturity None
pro, Ided, how ... I. that In comae less thnn an of Me oummdln[ Setln
A R.M. couolied, im July 1. lase are eau,•d for redemption. they
.hmll b called by
mEe Vied ley i t ,ur r shall lect Me mcen
or or M fair. so re any method deemM nay him
MYMENTI Both Principal
melIs tmProvythe ueatmof6. se
ffie of the 0mTrial of the City of ft. Lard Obispo. Ran Lum
Obispo. Califom. pan
REGISTRATION EXECUTION D bonds willtheeds wxl ull he
dley toe moment NEnsmle
of at omh n official authorized to i .Vts
the Ronde. Rald Bond. are registrable only lie to both principal ad
interest.
PURPOSE: The &Hi. A Bonds are vlithmised foe the purpose of
OUIHne, —Mir climm. midablehlit, and Imprmirin Of
off-street vehicular parking faellltow In Perking District No. 1 f Me
oftIto, City .1 Ica. Lola Obisp,¢d d pad Julyn7. 196E o. 9k (t9tr8 of
SECURITY: The protelpal of and kderes[ no the Penes App Bond.
for In me Muslutle. Idemlgnhed lthe IYParking m islet Not I Revelnrw
Fund"). malderw are sheered M the Remlutipn and I. the OrflrJal
State Beet for further Mytmulars.
TAX EXEMPT STATUS: the Me Ierresnt t,lbeoel the"lo a deliver,off
ed
by private holders from bonds of me name type and character shall be
declared to be taxable under ... Federal Income Taa laws, either by
ty
ore lfficW when Is followeImpir. .1 d by the . Federal Internal Internal Revenue T. Service orst%
decision of any Federal Court. Me successful bidyder may, be his
lolled of`I himtobigationass derVie
l Sco tract Rion push a Mety�edom A
Ronda, and In much came deader
deposit sceumpmylng 4L bid will ha
morned.
LEGAL OPINION: Me
ggtue A. Sutcliffe. opinion of
San Francisco luCall-
edrnp, ap roving Me validity f me &rise A Sonde will he furnished
Certified cb sMe official I. wheee,off[. the oilgtwlthe I. f1eed, uwlll M
primed o each bond without charge to me successful bidder.
TERMS OF SALE
HIGHEST [ID: The Series A Bonds ill be awnread to the highest
bidder, Considering the interest rate or raise ape 1-
tied In Me bid d Me Premium bid, If y. Th¢ LI(heel hid will Le
determined by deducting the mount f the Premlwr bid (If any) from
ie mini amount f Interne which Me City would be required m MY
from the data f 0e &ft. Bona. to their espectim aluritN dates
made. m"uhe. aasssle of Me mum lowesty et interest cost W the City IllThe
lowest net Internet cost .hall be Computed on 98o-day year basis.
wBopurchaser
ds to the dais of d.11mry.l"Th. cost of priethe t es Me Serlf Me essiA
Bon" will be born. by We City.
RIGHT OF The City e.ervea Me right-1. lie discretion. to reject
REJECTION Any and ell bid. and to else any irregularity or
Informality In any bid.
PROMPT AWARD: The Cool will take it.. awarding the
Series A Bond. .r mjecHne all bid. not Peter
than AC hours after the e.fLr.U.. of the rime herein prescribed for
Me reeelpt of proposal., unless such time of eward is waived by me
eoocea.Nl bidder.
PROMPT DELIVERY: Dell,,, of the 8erles A Rona. will be
.ads to cal
t me CityTreasurer In Ban Luls tOblehe ue. NI horde t Doleful unoffty.
California, the Bonds can be DrNspred, whichIt1. a timated
is ltha R ithinANBpode. from me "W le of e, but not prior to the dale
RIGHT OF Ths ear cwful bidder hell have the tight at
CANCELLATION: bis option. to cancel the tract t 1puFame
of in,l to
cute the Berle. A Bonds andete der Me ows n, for ldsllveryf+thin
RI days from the date of sale thereof, and In ugh event the successful
bidder steal] be entitled to the mum of no deposit sommesnyink
his Did.
FORM OF EIS: B lrieel A Bo Ls,nere y offfered for see nd for
net lees Nsn the For melds thereof d d Interest to date f
delivery. Each bM, together with bidae/. heck. front be (reed In
Ohd envelope ddressed o the council of Me. ity Of San lard
bispo. SLuis Obispo. Ben LUM 01, County. Cllforet.. and
endorsed Proposal for Parking D1.lylet TNf o 1 Bonds f the City of
Sn Luis Obispo. Series A."
WC CHECK: W1«r each id mostml,re for attempted
drawn trHfled
bbaPoank r trust Cool tminicting business In the State of California
Ing trumlo the order C, the the failure of me bidder to to complyy wit X the time i f his Did
In addition bidders or, lmumted, but hot pulsed, to en" no eetl.
pp five bids. which lhsll M let iaelr eU City on
omniv their
of
bidderss .. heo`etu and bidder or
City CRY,
m:oteskm , he loco and
the
Bonlm No Internet will be paid upon the deposit made, Ly thesdu¢de`
Cut bidder.
OFFICIAL STATEMENT: These
he tCityehan of rimmedich will Man cial Ma e-
ppso,'ished
City Hall "Ears�s: Lute theCity
California. or
Coto Mewers Stone A
I .... hem. Russ Building. San Fnnet. L sCsllfomla. the CitY's
BnmCl" commoddedits.
Ybere be n oiltreveray or litigation pmdmg or tbreaened enn-
eeming the ve11,1%Y f the Bermm A heads, d the City will furbish
to me .ude NI bidder . no-Iltilsstion rtiPesle Hifying to the
foregoing odlard: an at the time of the delivery of the Bermes A Bonds.
J. R thtTYPATRf
Clay Clerk of the City of But Luis Oblation.
lum Bof California.
(YarthOblation.
OFFICIAL NOTICE OF SALE
$420,000
PARKING DISTRICT NO. 1 BONDS OF THE CITY OF SAN LUIS OBISPO,
SERIES A
NOTICE IS HEREBY GIVEN that sealed proposals will
be received by the Council of the City of San Luis Obispo, San
Luis Obispo, San Luis Obispo County, California, at the Council
Chambers, City Hall, San Luis Obispo, San Luis Obispo County,
California, on
WEDNESDAY, APRIL 12, 1961
at 11:00 A.M., (P.S.T.), for the purchase of $420,000 princi-
pal amount of Parking District No. 1 Bonds of the City of San
Luis Obispo, Series A, authorized to be issued under the
provisions of a resolution of the Council adopted March 20,
1961 (hereinafter called the "Resolution"). The Bonds are
more particularly described in the Resolution (which is
incorporated herein by reference) and a copy thereof will
be furnished to any interested bidder upon request. Said
bonds are offered for sale pursuant to the Parking District
Law of 1951, Part 4, Division 18 of the Streets and Highways
Code of the State of California.
ISSUE: $420,000, consisting of 420 bonds of
the denomination of $1,000 each,
numbered Al to A420, both inclusive, designated Parking
District No. 1 Bonds of the City of San Luis Obispo, Series A.
DATE: The Series A Bonds are dated January
1, 196i.
INTEREST RATE: Maximum not to exceed 6% per annum,
payable semi-annually on January 1
and July 1 in each year commencing July 1, 1961. Bidders
must specify the rate of interest which the bonds hereby
offered for sale shall bear. Bidders will be permitted to
bid different rates of interest provided that all bonds of
any one maturity shall bear the same rate of interest, that
no bond may bear more than one rate of interest or more than
one coupon to evidence any interest payment, and that the
maximum differential between the lowest and the highest
coupon rates named in any bid shall not exceed 2%. The
interest rate or rates stated in any bid must be in a
multiple of 1/B or 1/20 of 1% per annum payable as aforesaid.
MATURITIES: The Series A Bonds mature in consecutive
numerical order from lower to higher,
as follows:
Maturity Date
Principal
(July 1)
Amount
(All years inclusive)
10,000
1962 - 1968
15,000
1969 - 1975
20,000
19z76
225,000
1986
3
•
C�
REDEMPTION: Bonds numbered Al to A195, both
inclusive, maturing on or prior
to July 1, 1976, a--e not redeemable prior to their fixed
maturity dates. B,c,nda numbered A196 to A420, both
inclusive, maturing on July 1, 1986, are redeemable, at
the option of the _ty, on July 1, 1966, but not prior
thereto, and on an interest payment date thereafter prior
to maturity, as a . .ole or in part, from revenues as defined
in the Resolution -,d on July 1, 1976, but not prior thereto,
and on any interes- payment date thereafter prior to maturity,
as a whole or in p — t, from funds derived by the City from any
source, at the pri-.:ipal amount thereof and accrued interest to
date of redemption Plus a premium as set forth in Column 3 below,
as follows:
Column 1
Bonds re eeme
Column 2
Column
on c -
after July 1
and prior to July 1
Premium
1966
1969
4
1969
1972
3-1/2%
1972
1975
1978
2-1/2%
1978
1980
2
1930
1981
1-1/2%
1981
1933
1 %
1983
Maturity
None
however, 7
provided,
matte ing on July 1at in case ,s than outstanding
arell of calledhforuredandinon,
they shall be calle- by lot. The City Treasurer shall select the
numbers of the Bond-, so to be called by lot by any method deemed
by him to be fair.
PAST: Both principal and interest are payable
In lawful money of the United States of
America at the off_.ee of the City Treasurer of the City of San
Luis Obispo, San L.__s Obispo, California.
EXECUTION AND Coupon bonds will be issued by the City.
C : Said bonds will be executed by the
manual signature of at least one official
authorized to exec the Bonds. Said Bonds are registrable only
as to both princlpu._ and interest.
PURPOSE: The Series A Bonds are authorized for
the purpose of acquiring, constructing,
establishing and im= roving of off-street vehicular parking
facilities in Park_ag District No. 1 of the City of San Luis
Obispo established �y Ordinance No. 86 (1958 Series) of the
City of San Luls Ot _.spo, adopted July 7, 1958.
SECURITY: The principal of and interest on the
Series A Bonds are payable exclusively
from a special funs provided for in the Resolution (designated
the "Parking Distr'_:t No. 1 Revenue Fund"). Bidders are referred
to the Resolution a:_.d to the Official Statement for further
particulars.
TAX EXEMPT STATUS: In the event that prior to the delivery
of the Series A Bonds the income received
by private holders `rom bonds of the same type and character shall
be declared to be - gable under any Federal Income Tax laws,
iii `:s. _ _...
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 the Series A Bonds by the City, be relieved of his obliga-
tion under the contract to purchase the Series A 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 the Series
A Bonds will be furnished without charge to the successful bid-
der. A copy of the legal opinion, certified by the official in
whose office the original is filed, will be printed on each bond
without charge to the successful bidder.
TERMS OF SALE
Highest Bid: The Series A Bonds will be awarded
to the highest bidder, considering
the interest rate or rates specified in the bid and the
premium bid, if any. The highest bid will be determined by
deducting the amount of the premium bid (ir any) from the
total amount of interest which the City would be required
to pay from the date of the Series A Bonds to their respec-
tive 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 lowest net interest cost
mall be computed on a 360-day year basis. The purchaser
must pay accrued interest from the date of the Series A Bonds
to the date of delivery. The cost of printing the Series A
Bonds will be borne by the City.
Right of The City reserves the right, in its
Re.'ection: discretion, to reject any and all
bids and to waive any Irregularity
or informality in any bid.
Prompt Award: The Council will take action awarding
the Series A Bonds or rejecting all
bids not later than 24 hours after the expiration of the time
herein prescribed for the receipt of proposals, unless such
time of award is waived by the successful bidder.
Prompt Delivery: Delivery of the Series A Bonds will
be made to the successful bidder at
the office of the City Treasurer in San Luis Obispo, San Luis
Obispo County, California, as soon as the Bonds can be prepared,
which it is estimated will be within 30 days from the date of
sale, but not prior to the date of the Series A Bonds.
Right of The successful bidder snall have the
anC cellation: right, at his option, to cancel the
contract of purchase of the Series A
Bonds If the City shall fail to execute the Series A Bonds and
tender the same for delivery within 60 days from the date of
sale thereof, and in auen event the successful bidder shall be
entitled to the return of the deposit accompanying his bid.
i •
Form of Bidt All bids must be for not less than all
of the Series A Bonds hereby offered
for sale and for not less than the par value thereof and accrued
interest to date of delivery. Rath bid, together with bidder's
check, must be enclosed in a sealed envelope addressed to the
Council of the City of San Luis Obispo, San Luis Obispo,
San Luis Obispo County, California, and endorsed "Proposal
for Parking District No. 1 Bonds of the City of San Luis Obispo,
Series A."
Bid Check: With each bid must be submitted a
certified check or cashier's sack
for $5,000 drawn on a bank or trust company transacting bus-
ineas in the State of California payable to the order of the
City to secure the City from any lose resulting from the
failure of the bidder to comply with the terms of his bid.
In addition bidders are requested, but not required, to supply
an estimate of the total net interest cost to the City on the
basis of their respective bids, which shall be considered as
informative only and not binding on either the bidder or the
City. Checks of the unsuccessful bidders will be returned by
the City by mail upon the award of the Bonds. No interest
will be paid upon the deposit made by the successful bidder.
Official Statement: The City has prepared an official
statement, acopy of which will be
furnished upon request addressed to the City Clerk of the
City of San Luis Obispo, City Hall, San Luis Obispo,
California, or to Messrs. Stone & Youngberg, Russ Building,
San Francisco 4, California, the City's financing consultants.
There is no controversy or litigation pending
or threatened concerning the validity of the Series A bonds,
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 Series A Bonds.
Dated: March 20, 1961.
J. H. FITZPATRICK
City Clerk of the City of an s apo
State of California
6
01
Section 4. This Resolution shall take
effect from and after its passage and approval.
PASSED AND ADOPTED this 20th day of March, 1961,
by the following vote:
AYES: Councilmen Kenneth W. Jones, Gerald W. Shipsey, J. Barry
Smith, Fred M. Waters.
NOES: Donald Q. Miller
ABSENT: None
/s/ J. H. Fitzpatrick
City Clerk o e y o
San Luis Obispo, State of
California
7
/s/ Fred M. Waters
Mayor of the City of San Luis Obispo
State of California
CLERK'S CERTIFICATE
I, J. R. FiTZFATRICK , City Clerk of the City
of San Luis Obispo, California, do hereby certify that the
foregoing is a full, true and correct copy of a resolution
duly adopted by the Council of Bali City at a Regular
meeting of said Council duly and regularly and legally held at
the regular meeting place thereof on the 20th day of March,
1961, of which meeting all of the members of said Council had
due notice and at which a majority of the members thereof were
present; that at said meeting said resolution was adopted by
the following vote:
AYES: Councilmen Kenneth W. Jones, Gerald W. Shipsey, J. Barry
Smith, Fred M. Waters.
NOES: Donald q.Miller
ABSENT: None
That I have carefully compared the same with the
original minutes of said meeting on file and of record in my
office and that said resolution is duly entered of record in
the minute book of said Council and that said resolution is a
full, true and correct copy of the original resolution adopted
at said meeting and entered in said minutes. That said resolu-
tion has not been amended, modified or rescinded since the date
of its adoption and the same is now In full force and effect,
WITNESS my hand and the seal of the City of
zo
San Luis Obispo this 33at day of March , 1961.
c'ly tf®rV orsne y of San_MT8__0b3apo
California
[Seal of the City of San Luis Obispo]
COUNCIL
of the
CITY OF SAN LUIS OBISPO
RESOLUTION NO..=.4ini wr1M)
Authorizing the Issuance of Parking District No, I Bonds
of the City of San Luis Obispo, and of $420,000
Principal Amount of Series A Bonds
733 (1961 pries)
RESOLUTION NO. _...............
Resolution of the Council of the City of San Luis Obispo Autborizing the
Issuance of Parking District No. 1 Bonds of the City of San Luis
Obispo, and of $420,000 Principal Amount of Series A Bonds, Pro-
viding the Terms and Conditions for Issuance of Said Bonds, and
Providing for the Pledge of Parking Revenues and the Levy of Ad
Valorem Assessments in Parking District No. I of the City to Secure
Payment of the Principal and Interest Thereof.
WUMAS, the City Of San Luis Obispo, State of California, is a
chartered city duly organized and existing under and pursuant to the
provisions of the Constitution of the state of California; and
Wnaaaes, there now exists in the City serious traffic congestion and,
in order to relieve said congestion, the City has established and now
operates on many of its public streets, parking meters for the purpose of
controlling, limiting and regulating the time for the use of said streets
for public parking; and
Wssaaaes, there exists an immediate necessity that said controlled
street parking be supplemented by public off-street vehicular parking
facilities in the City, and in order further to relieve said traffic conges-
tion and promote the welfare of the citizens and inhabitants of the City,
it is necessary that funds he raised by the City, for the purpose of
acquiring, constructing, establishing, improving, extending, maintain-
ing, operating and administering off-street vehicular parking facilities
and plaees within Parking District No. 1 of the City and, to that end,
that bonds be authorized and issued for and on behalf of Parking
District No. 1 of the Citv as in this Resolution provided; and
WHERP—, the City is authorized to take proceedings for the estah-
lishment of off-street parking facilities in Parking District No. 1 of the
City and to issue bonds for and on behalf of Parking District No. 1 of
the City to finance such facilities under the provisions of the Parking
District Law of I W)l ; and
Wueaaes, the Council by Resolution heretofore duly adopted has
determined, as an alternate procedure to that prescribed in Sections
35400 and 35402 of the Streets and Highways Code of the State of
California, to issue bonds as provided in Purt 4 of Division 1S of said
Code under Section XW02.1 of said Code and has estimated the amount
necessary to make all of the prepnged acquisitions and improvements-
2
and to pay the additional items specified in Section 35402 of said Code
to be the amount of the Parking District No. 1 Bands of the City of
San Luis Obispo, Series A, hereinafter authorized; and
WaraEAs, all acts, conditions and things required by the Constitu-
tion and laws of the State of California, and particularly the Parking
District Law of 1951 of the State of California, to be done or performed
precedent to and in the issuance of bonds as hereinafter provided have
been done, have happened and have been performed in due time, form,
and manner as required by law, and the Council is now authorized to
issue and sell bonds as hereinafter provided and, to levy limited special
ad valorem assessments upon the taxable real property within Parking
District No. 1, which has been determined to be The district benefited by
said off-street vehicular parking facilities, all as more particularly and
finally provided by the proceedings for the establishment of Parking
District No. 1 of the City of San Luis Obispo (all of which said proceed-
ings are by this reference incorporated in this Resolution and made a
part hereof);
Now, Taaaeroas, BE Ir RESOLVED by the Council of the City of San
Luis Obispo as follows:
ARTICLE I
DmNtrmNs; EQUAL Seem"
SscrmN 1.01. Definitions. The terms hereinafter in this Section
1.01 defined shall, for all purposes of this Resolution, and of any reso-
lution supplemental hereto, and of any certificate, opinion or other
document herein mentioned bare the meanings herein specified.
(a) "City" means the existing municipal corporation known as the
"City of San Luis Obispo," as the same is constituted by the provisions
of its Charter, as amended and now in effect and as hereafter amended,
all pursuant to the Constitution of the State of California.
(b) "Council' means the Council of the City provided for in the
Charter, or any other governing or legislative body of the City hereafter
provided for by an amendment of the Charter or by law.
(c) "City Treasurer" or "Treasurer" means the Treasurer of the
City.
(d) "Charter" means the Charter of the City, as amended and iA
force on the date of adoption of this Resolution.
3
(e) "Parking District Law" or "Law" means the Parking District
Law of 1951, Part 4, Division 18 of the Streets and Highways Code of
the State of California.
(f) "Resolution" means this Resolution adopted March 20, 1961,
by the Council pursuant to the Constitution and laws of the State of
California, and more particularly the Parking District Law.
(g) "Supplemental Resolution" means any resolution then in force
and effect which has been duly adopted by the Council in accordance
with the Parking District Law (or any amendment then in effect,
amendatory of or supplemental to said law), at a meeting of the Council
duly convened and held and at which a quorum was present and acted
thereon, amendatory of or supplemental to this Resolution; but only
if and to the extent that such supplemental resolution is specifically
authorized hereunder and under the Law.
(h) "District" or "Parking District" means Parking District No.
1 of the City of San Luis Obispo finally formed and established by
Ordinance No. 86 (1958 Series) of the City of San Luis Obispo, adopted
by the Council of the City of San Luis Obispo on July 7, 1958 and now
in effect.
(i) "Certificate of the City" and also the terms "statement of the
City," "written request of the City" and "written consent of the City"
mean and shall mean, respectively, an instrument in writing signed
by the Mayor, or by any other officer of the City duly authorized by
the Council for that purpose, and also by the Clerk or any Deputy
Clerk of the City, with the seal of the City affixed. Any such instrument
in writing and supporting opinions or representations, if any, may, but
need not, be combined in a single instrument with any other instrument,
opinion or representation, and the two or more so combined shall be
read and construed so as to form a single instrument. Aviv certificate or
statement of the City may he based, insofar as it relates to legal,
accounting, or engineering matters, upon the opinion or representation
of counsel, accountants, auditors, or engineers, unless the officer or
officers signing such certificate or statement know, or in the exercise of
reasonable care should have known, that the opinion or representation
with respect to the matters upon which such certificate or statement
may be based, as aforesaid, is erroneous. The same officer or officers of
the City, or the same counsel, accountant, auditor, or engineer, or other
persons, as the case may be, need not certify to all of the matters
4
required to be certified under any provision of this Resolution, but
different officers, counsel, accountants, auditors, engineers or other
persons may certify to different facts, respectively. Every certificate or
statement or request of the City, and every certificate or opinion of
counsel, accountants, auditors, engineers or other persons provided for
herein sball include:
(1) a statement that the person making such certificate or
opinion or representation has read the pertinent provisions of this
Resolution to which such statement, certificate, or opinion or repre-
pentation relates;
(2) a brief statement as to the nature and scope of the exami-
nation or investigation upon which the statements, opinions or
representations are based;
(3) a statement that, in the opinion of such person, he has
made such examination or investigation as is necessary to enable
him to express an informed opinion with respect to the subject -
matter referred to in the instrument to which his signature is
affixed; and
(4) with respect to any statement relating to compliance with
any provisions hereof, a statement whether or not, in the opinion
of such person, such provision has been complied with.
(j) "Opinion of Counsel' means a written opinion of counsel
selected by the City (who may be the City Attorney). Any opinion of
such counsel may he based, insofar as it relates to factual matters (in-
formation with respect to which is in the possession of the City) upon
a certificate or opinion of, or representation by, an officer or officers
of the City, unless such counsel knows, or in the exercise of reasonable
care should have known, that the certificate or opinion or representa-
tion with respect to the matters upon which his opinion may he based,
as aforesaid, is erroneous.
(k) "Independent certified public accountant" means any registered
or licensed certified public accountant or firm of such certified public
accountants duly licensed or registered or entitled to practice and prae-
tieing as such under the laws of the State of California, appointed and
paid by the City, and who, or each of whom
(1) is in fact independent, and not under domination of the
City;
(2) does not have any substantial interest, direct or indirect,
with the City; and
(3) is not connected with the City as an officer or employee
of the City, but who may be regularly retained to make annual or
other similar audits of the hooks of the City.
(1) `Project", generally, means any one or more lots or parcels of
land, including rights of way, together with all parking places and.
improvements thereon (including all improvements and extensions of
the Project hereafter acquired or constructed) for the storage of auto-
mobiles and vehicles, or authorized to he acquired, constructed, estab-
lished, improved, extended, maintained, operated, or administered by
the City, for off-street vehicular parking facilities and places within
the District, pursuant to the Parking District Law, including the Project
more particularly described in Section 3.01 hereof in connection with
the issuance of Series A Bonds hereunder. Said term shalt include, for
all purposes of this Resolution and of any Supplemental Resolution,
each and every, all and singular, off-street vehicular parking facilities
acquired, constructed, established, improved, extended, maintained,
olwrated, or administered within the District in whole or in part from
the proceeds of any series of Bonds issued hereunder or from any
Revenues: and also the City owned lands within said District desedhed
in Ordinance No. 82 (1958 Series) adopted on May 5, 1958, being used
for the purpose of public off-street vehicular parking.
Nothing in this definition contained shall limit or restrict the use
and application of Revenues, to the extent permitted by law, howso-
ever and wheresoever derived, or the pledge thereof to the equal and
proportionate benefit of all of the Bonds authorized hereunder, without
preference or priority of any one Bond over any other, or the Bonds
of any series over the Bonds of any other series, irrespective of the
specific improvement or extension of the Project, including any specific
off-street parking facility, comprising a part of the Project, for the
acquisition, construction, establishment, improvement, extension, main-
tenance, operation or administration of which the Bonds of such series
are issued. The Council may, however, limit and restrict the proceeds
of the sale of Bonds of anv series to the acquisition, construction, estab-
lishment, improvement, extension, maintenance, operation, or adminis-
tration of any specific designated improvement or extension of the
Project, subject to such limitations as may be specified in this Resolu-
6
tion or any Supplemental Resolution or the Law with respect to the
use and application of proceeds of the Bonds of such series in excess
of the amount required for such specific improvement.
(m) "Acquisitions and improvements for the Parking District'
means the acquisitions and improvements described in said Ordinance
No. 86 (1958 Series) referred to in subparagraph (h) of this Section
1.01 and all improvements and extensions hereafter acquired or con.
structed.
(n) "Revenues" shall mean gross revenues from the operation of
the District parking places and all other charges received or receivable
in connection with, and any and all income and receipts of whatever
kind or character derived by the City from the operation of, the Project,
or arising from the Project. The term "Revenues" also includes all
net on -street parking meter revenues and all limited ad valorem assess-
ments and all revenues as may have been or may be impounded or
deposited in any fund created for the security or for the protection of
the Bonds, or for the purpose of providing for the payment of the Bonds
or the interest thereon.
(a) "Gross revenues from on -street parking meters" means all
gross revenues or funds derived by the City from all parking meters
now owned or controlled by the City, or hereafter acquired or con-
trolled by the City, and located on public ways within the Parking
District.
(p) "Necessary and reasonable on -street parking meter expenses"
means the necessary and reasonable costs of acquiring any parking
meters to be loeated on public ways within the Parking District and
which have not already been acquired, the necessary and reasonable
cost of acquiring any parking meters to replace meters now or hereafter
located on said public ways within the Parking District, and the acres.
sary and reasonable costs of installation, maintenance, operation, repair
and servicing of any parking meters located on said public ways within
the Parking District and the necessary and reasonable costs of collecting
the revenues therefrom, but without allowance for depreciation or
obsoleseenee.
(q) "Net on -street parking meter revenues" means the gross reve-
nues from on -street parking meters within the District after deducting
therefrom the necessary and reasonable on -street parking meter ex-
penses.
7
(r) "Limited ad valorem assessments" means ad valorem assess-
ments on all taxable real property in the District levied, collected and
enforced pursuant to the Law and this Resolution and limited as to both
time and rate. The limit as to time shall be thirty-six (36) years from
the date of the Series A Bonds and the limit as to rate shall be seventy-
five cents (.75) on each one hundred dollars ($109) of assessed valuation.
(s) "District parking places" means the public parking places pro-
vided by the acquisitions and improvements for the Parking District
(including all improvements and extensions hereafter acquired or
constructed) and by the City -owned lands described in Ordinance No.
82 (1958 Series), adopted Vav 5, 1958, which, for all purposes of said
Parking District, shalt be. held, used and treated in all respects the
same as the parking places to he acquired with the proceeds of the
Bonds.
(t) "Gross revenues from the operation of the District parking
places" means all gross revenues derived from the District parking
places and includes all fees, tolls, rates, rentals and other charges
received for, or in connection with, the use and operation of the District
parking places and all other income and receipts derived by the City
from the operation of, or arising from, the District parking places.
(u) "Necessary and reasonable maintenance and operation costs
of the District parking places" means the necessary and reasonable
annual expenses of the management, operation and repair of the Dis-
trict parking places and other expenses reasonably necessary to main-
tain and preserve the District parking places in good repair and
working order, but does not include depreciation or obsolescence, or
extensions or other capital improvements.
(v) "Bonds" means the Bonds of Parking District No. 1 of the
City authorized by and at any time outstanding pursuant to the Parking
District Law and to this Resolution or to any Supplemental Resolution
and shall include the written evidenee of any obligation issued by the
City for or on behalf of Parking District No. 1 of the Citc, payment of
which is secured by a pledge of the Revenues or any part of the
Revenues.
(w) "Independent Engineer" means any individual or firm of
engineers having special knowledge and experience in the handling of
vehicular traffic and in the operation of vehicular parking facilities,
appointed and paid for by the City and who, or each of whom
e
(i) is in fact independent and not under domination of the
City;
Oil does not have any substantial interest, direct or indirect,
with the City;
(iii) is not connected with the City as an officer or employee of
the City, but who may be regularly retained to make annual or
other periodic reports to the City.
(x) "Fiscal Year" means any twelve-month period beginning on
July 1 and ending on the next succeeding June 30.
(y) "Good merchantable title" means such title, whether fairly
deducible of record, or based on prescriptive rights, as in the opinion of
Counsel is satisfactory and sufficient for the needs and operation of
the City within said District, without regard to (a) easements or rights
of way or conditions in deeds of record or reservations for roads,
streets, sewers, or public utility facilities, (b) taxes or liens created
by assessment of governmental body, payment of which is due in
installments over a period of years, and no installment of which is
overdue, (c) taxes for the then current year which are not then delin-
quent, (d) undetermined liens and charges then incident to the proposed
construction of said improvements or extensions of the Project, (e)
zoning ordinances, servitudes, conditions and restrictions which do not
impair or materially interfere with the use of said improvements or
extensions of the Project, and (f) such possible adverse rights or
interests as in the opinion of Counsel are unimportant and may be
disregarded.
Sacmox 1.02. Equal Security. Tn consideration of the acceptance
of the Bonds, the creation of which is authorized hereunder, by those
who shall bold the same from time to time, this Resolution shall be
deemed to be and shall constitute a contract between the City and
the holders and registered owners from time to time of the Bonds and
interest coupons appertaining thereto, and the covenants and agree.
ments herein set forth to be performed by the City on behalf of the
District shall he for the equal and proportionate benefit, security and
protection of all holders and registered owners of the Bonds and inter-
est coupons without preference, priority or distinction as to security
or otherwise (except as to maturity- and redemption provisions, sink-
ing funds, or other funds which may be established for the Bonds of
any series authorized hereunder) of any of the Bonds or interest cou-
pons over any of the others by reason of number, date of bonds, of sale,
of execution, or of delivery or negotiation thereof, or otherwise for any
cause whatsoever, except as expressly provided therein or herein.
ARTICLE II
TERus Or BONDS
SEmox 2.01. Limitations as to the I.ssuaace of Bonds. The
Bonds shall be issued hereunder, within the powers of the City and the
Council under the Constitution and laws of the State of California,
including the Charter, and particularly the Parking District Law, in
order to obtain funds with which to acquire, construct, establish, im-
prove, extend, maintain, operate and adlninister the Project.
The City will not issue any Bonds secured by any Revenues, except
as in the Law and this Resolution provided, so long as any Bonds or
coupons issued under this Resolution are outstanding and unpaid
Bonds issuable under the Law and this Resolution may be issued in
series as from time to time shall be established and authorized by the
Council. The aggregate principal amount of Bonds which may be issued
by the City and secured by this Resolution and outstanding at any one
time is not limited, except as provided by the Law and this Resolution
(subject to the right of the Council to fix from time to time by any
Supplemental Resolution a limitation of indebtedness) and the Law
and this Resolution, subject to the covenants, agreements, provisions
and conditions herein contained, ennstitutes a continuing agreement
with the holders of all of the Bonds issued or to be issued hereunder
and then outstanding, to secure the full and final payment of the prin-
cipal of and premiums, if any, and the interest on all Bonds which may
from time to time he executed and delivered hereunder.
SEcriox 2.02. Terms of Series A Bonds. An initial series of
Bonds to he issued under this Resolution, limited in the aggregate prin-
cipal amount to not exceeding Four Hundred Twenty Thousand Dollars
($420,000) at any one time outstanding, is hereby created, and such
Bonds are designated generally as "Parking District No. 1 Bonds of
the City of San Luis Obispo, Series A" (hereinafter called the Series A
Bonds). The Series A Bonds shall he issued initially as coupon bonds,
payable to bearer, with the privilege of registration as to both principal
and interest, in substantially the form hereinafter set forth. The Series
r � �
10
A Bonds shall be dated January 1., 1961, shall be issued in the denomi-
nation of $1,000 each, and shall be numbered from Al to A420, both
inclusive. The Series A Bonds shall bear interest at such rate or rates,
not exceeding six per cent. (6%) per annum, as may be prescribed by
the Council at the time of the sale of said Bonds and set forth in a reso-
lution of the Council. Such interest shall he evidenced by coupons at-
tached to each Bond, and each of said coupons shall represent six
months' interest on the Bond to which it is attached. The first interest
coupon shall represent interest from January 1, 1961 to July 1, 1961,
and each subsequent interest coupon shall be payable semi-annually on
the first day of January and the first day of July in each year there-
after until the Bonds are paid. Each of such coupons shall be numbered
in the order of its respective maturity.
The Series A Bonds shall mature and become payable on July 1.st
in each year in consecutive numerical order from lower to higher (each
Bond to mature for its fall face amount and not for any fraction there-
of) as follows, to wit:
Nord Numbers sued Numbers
(intluiieel (intiuslue)
IAII bearing Printipal Mahuit, Date (Ail Marino Pneolpal Maturity Daa
Pretla"V) Amount (July 9 Prefix "A: ) Amount Ouly 0
1. 10 $ 10,000 1962 86-100 $ 15,000 1970
it. 20 10,fm 1963 101-115 15,000 1971
21- 30 10,000 1964 116-130 15,000 IM,
31. 40 10,000 ID65 131-145 15,000 1973
41. 50 10,000 1966 146-160 15,000 1914
51- 60 10,000 1967 161-175 15,000 1975
61- 70 10,000 1968 176495 20,000 1976
71. 85 15,000 1969 196-420 . 225,000 1986
Both the principal of and interest on the Series A Bonds, as well as
any premium thereon in case of the redemption thereof prior to nba-
turity, shall be payable in lawful money of the United States of Amer-
ica at the office of the City Treasurer of the City. The Council may,
by Supplemental Resolution, establish a paying agent or paying agents
in any city or cities for the payinent of the principal of or interest on
Series A Bonds, and if any such paying agency shall be established,
the City shall maintain the same so long as any Series A Bonds shall
remain outstanding, and in such event both the principal of and inter-
est on the Series A Bonds shall also be payable at the option of the
holder of the respective Bonds and the coupons appertaining thereto
1l
or of the registered owners of registered Bonds without coupons, at
such paying agency so established.
Said Bonds are not general obligations or general indebtedness
of the City but are special obligations of the City issued for Parking
District No. 1 of the City- under the Law, and the Bonds mid interest
thereon and any premiums upon the redemption of any thereof are
payable solely from:
(a) the "gross revenues from the operation of the District
parking places";
(b) the "net on -street parking meter revenues"; and
(c) to the extent provided in this Resolution and in the Law,
limited ad valorem assessments;
and neither the City nor any of its officers may be held otherwise liable
for the payment of the principal of the Bonds or the interest thereon
or any premiums upon the redemption of any thereof.
SEcriox 2.03. Form of Series A Bonds. The definitive Series A
Bonds and the interest coupons to be attached thereto shall be in sub•
stantially the following forms, respectively:
' STATE OF CALYFOaNIA
COuxTY of SAx Luis Owsro
CITY OF SAx Luis Omsro
PARKING DISTRICT NO. 1 BOND
OF THE CITY OF SAN LUIS OBISPO, SERIES A
No. A ..... _........... $1,000
For and on behalf of Parking District No. 1 of the City of
San Luis Obispo (a parking district duly formed pursuant to the
provisions of the Parking District Law of 1951, Part 9, Division 19
of the Streets and Highways Code of the State of California, here-
inafter referred to as the "Law"), the City of San Luis Obispo,
a municipal corporation organized and existing under the Con-
stitution and laws of the State of California (hereinafter called
the "City"), for value received, hereby promises to pay, exclusively
out of the special fund hereinafter mentioned, to the bearer (or
if this Bond be registered, to the registered owner hereof) on the
1st day of July, 19.... (subject to any right of prior redemption
12
hereinafter in this Bond expressly reserved), the principal sum of
ONE THOUSAND DOLLAns ($1,000)
together with interest thereon from the date hereof at the rate of
........_..........._. per rent (......70) per annum until payment of said
principal sum in full, payable semi-annually on January 1 and
July 1 in each year commencing July 1, 1961. Unless this Bond be
registered, such interest, prior to maturity, Shall he payable only
on presentation and surrender of the proper interest coupons
hereto attached as they respectively become due. Both the prin-
cipal of and interest on this Bond are payable, exclusively out of
said special fund, in lawful money of the United States of Amer-
ica at the office of the City Treasurer of the City of San Luis
Obispo, San Luis Obispo, California.
This Bond is one of a duly authorized issue of Bonds of Park-
ing District No. 1 of the City (unlimited in aggregate principal
amount, except as otherwise provided in the Law and the Resolu-
tion hereinafter mentioned) of the series and designation indi-
cated on the face hereof, which issue of Bonds consists or may
consist of one or more series, of varying dates, maturities and
interest rates, all issued and to be issued pursuant to the Charter
of the City and the Constitution and statutes of the State of Cali-
fornia, and a Resolution (hereinafter called the "Resolution'),
adopted by the Council on the ........ day of March, 1961. Refer-
ence is hereby made to the Law and to the Resolution, copies of
which are now on file in the office of the City Clerk of the City,
for a particular description of the security therein provided, the
nature, extent and manner of enforcement of such security, a state-
ment of the rights of hearers or registered owners of the Bonds,
andthe provision for issuance of Additional Bonds. All of the pro-
visions of the Law and the Resolution are incorporated herein and
in the coupons appurtenant hereto, and are hereby constituted a
contract between the City and the holder or registered owner From
time to time of this Bond, to all of the provisions of which the
bearer or registered owner hereof, by his acceptance of this Bond,
consents and agrees. Each taker and subsequent holder hereof and
of said coupons whether said coupons are attached hereto or de-
tached herefrom shall have recourse to all of the provisions of the
Law and the Resolution and shall be bound by all of the terms
and conditions thereof.
13
This Bond is issued for the purpose of raising money to finance
a project (hereinafter called the "Project") comprising vehicular
parking places in Parking District No. 1 of the City of San Luis
Obispo. Both the principal hereof and the interest hereon, and
of all Bonds of said authorized issue, are payable exclusively from
the special fund hereinafter and in the Resolution referred to,
which said fund is hereby pledged for security of the Bonds.
The City hereby covenants and warrants that for the payment
of this Bond and all other Bonds of this issue and all Additional
Bonds issued pursuant to the Law and the Resolution and inter-
est hereon and thereon when due, there has been created and will
be maintained a special fund designated "Parking District No. 1
Revenue Fund" into which all of the pledged revenues will be de-
posited, together with the proceeds of limited ad valorem assess-
ments upon all of the taxable real property in Parking District
No. 1 of the City which may be levied under the terms of the Law
and the Resolution and which assessments are limited to thirty-
six (36) years from the date of the Series A Bonds, as to time,
and to seventy-five cents ($.75) per each $100 of assessed valua-
tion, as to rate.
All of the Bonds of this authorized issue, including this Bond,
and the interest thereon and hereon are payable exclusively from
(a) the gross revenues from the operation of the parking places
within said Parking District No. 1, (b) net on -street parking meter
revenues as defined in the Resolution; and (c) to the extent pro-
vided in the Resolution and the Law, limited ad valorem assess-
ments levied upon taxable real property in the Parking District,
which have been pledged to the paytnent of the principal of and
interest on said Bonds; and the City is not obligated to pay the
game except from said sources. This Bond is not secured by the
taxing power of the City, except to the limited extent of said ad
valorem assessments upon the taxable real property. in Parking
District No. 1 of the City, and then only as provided in the Reso-
lution. Neither the City nor its officers are to he held otherwise
liable for the payment of the principal hereof or interest hereon.
Series A Bonds Nos. Al to A195, both inclusive, maturing
on or prior to July 1, 1976, are not redeemable prior to their fixed
maturity dates. Series A Bonds Nos. A196 to A410, both inclusive,
maturing on July 1, 1986, are redeemable, at the option of the
'14
City, on July 1, 1966, but not prior thereto, and on any interest
payment date thereafter prior to maturity, as a whole or in part,
from revenues as defined in the Resolution and on July 1, 1976,
but not prior thereto, and on any interest payment date thereafter
prior to maturity, as a whole or in part, from funds derived by
the City from any source, at the principal amount thereof and
accrued interest to date of redemption plus a premium as set
for in Column 3 below, as follows:
Column I Calumn t
Bonds redeemed Column2 Bonds redeemed Woeft2
on or alter and prior la Column 3 on or after and prior he Culamn 3
July I MY I Premium July I July I Premium
1966 1969 4 7c 1978 1980 2 %
1969 1972 3ah% 1%0 1981 Inj%
1972 1975 3 % 1981 1983 1
1975 1978 21h% 1983 Maturity Tone
provided, however, that in case less than all of the outstanding
Series A Bands maturing on July 1, 1986 are called for redemp-
tion, they shall be called by lot. The City Treasurer shall select
the numbers of the Bonds so to he called by lot by any method
deemed by him to be fair.
The Resolution my be amended, altered or modified with
the written consent of the holders of not less than sixty per cent
(60%) of the aggregate principal amount of the Bonds then out-
standing, in the manner, to the extent and upon the terms pro-
vided in the Resolution.
It is hereby certified, recited and declared that all acts, con-
ditions and things required by law to exist, happen and be per-
formed 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 Parking District No. I and the City,
does not exceed any limit prescribed by the Charter of said City
or the Constitution or statutes of said State.
This Bond may he registered in the office of the City Treasurer
of the City, as provided in the Resolution, and thereafter both the
principal of and interest on this Bond shall be payable only to the
registered owner.
Ix WITNESS WHEREOF, the City of San Luis Obispo has caused
this Bond to be executed under its official seal, signed by its Mayor
is
and Treasurer and countersigned by its Clerk, and has caused the
interest coupons attached hereto to be executed by the facsimile
signature of its Treasurer and this Bond to be dated January 1,
1961.
Mayor of the City of San Luis Obispo
Treasurer of the City of San Luis Obispo
Countersigned:
City Clerk of the City of San Luis Obispo
(FORM OF taratUT COUPON)
TnE CM OF SAY Lins OwsFo on .................
19_.., will (unless the within mentioned Bond
be registered and subject to any right of re,
demption reserved in said Bond) pay to bearer
(but only out of the special fund referred to in
said Bond) at the office of the City Treasurer, $............................
SAa Lets Oatsro, Cwtvoxst.s, the sum shown
hereon, being interest then due on Parking Dis.
trier No. 1 Bond of said City, Series A, dated No. A ...................
January 1,1961.
Treasurer of the City of San Luis Obispo
SEertox aO4. Redemption Provisions for SeriesABonds. Series
A Bonds Nos. Al to A195, both inclusive, maturing on or prior to July
1, 1976, are notredeemable prior to their fined maturity dates. Series A
Bonds Nos. A196 to A42O, both inclusive, maturing on July t, 1986, are
redeemable, at the option of the City, on Jule 1, 19(;r,, but not prior
thereto, and on any interest payment date thereafter prior to maturity,
as a whole or in part, from Revenues as defined in the Resolution and
16
on July 1, 1976, but not prior thereto, and on any interest payment
date thereafter prior to maturity, as a whole or in part, from funds
derived by the City from any source, at the principal amount thereof
and accrued interest to date of redemption plus a premium as set forth
in Column 3 below, as follows:
Column 1 Column 1
Bonds redeemed Column 1 Bonds mdnamed Column 1
0o or A., and prior la Column 3 on ar'Isr and erlor to C06M 3
July 1 July I Plamium July 1 July 1 humlum
1966 1%9 4 % 1978 1980 2 %
1969 1972 31h% 1980 1981 htygb
1972 1975 3 % 1981 1983 1 %
1975 1978 2%% 1%3 Maturity None
provided, however, that in case less than all of the outstanding Series A
Bonds maturing an July 1, 1986 are called for redemption, they shall
be called by lot. The City Treasurer shall select the numbers of the
Bonds so to be called by lot by any method deemed by him to be fair.
Except as in this Section 2.04 otherwise provided, the redemption.
of Series A Bonds shall be subject to the provisions of Article IV
hereof,
Stmox 2.05 Establishment of New Series of Bonds. Bonds
other than Series A Bonds may be issued as provided in Section 3.02
hereof.
In the event of the issuance of any new series of Bonds, the Council
shall adopt a supplemental resolution which shall prescribe the form
or forms of such Bonds and shall provide the denominations, methods
of numbering, date, maturity date or dates, interest rate and interest
payment dates, and place or places of payment of principal and interest
thereof and whether such Bonds are to be coupon Bonds with or without
provision for registration as to principal only or as to both principal
and interestand/or registered Bonds without coupons.
SECTION 2.06. Execution of Bonds. All of the Bonds shall he
executed by the City in the name of and on behalf of Parking District
No. 1 of the City and under the seal of the City, with the facsimile
signature of its Mayor and its Treasurer and the manual counter-
signature of its Clerk or one or more of his deputies. The seal of the
City may be affixed to the Bonds by printed, lithographed or other
reproduction thereof.
The coupons to be attached to the Bonds shall be signed by the
facsimile signature of the Treasurer of the City, and for that purpose
17
the City may adopt and use the facsimile signature of any such Treas-
urer notwithstanding the fact that at the time when any Bond shall
he actually executed and delivered or sold he shall have ceased to hold
such office.
In ease any of such officials whose signature or countersignature
appears on the Bonds or coupons shall cease to be such official before
the Bonds and coupons so signed shall have been actually authenticated
and delivered, such signature or countersignature shall nevertheless
he valid and of the same force and effect as if he had remained in
office until the delivery of the Bonds and coupons, and such Bonds
and coupons shall be issued and outstanding hereunder and shall be
as binding, in accordance with their terms, upon the Oily as though
the person who signed such Bonds or coupons had been such official
on the date borne by the Bonds or coupons and on the date of delivery,
and also any such Bond may be signed and sealed or any such coupon
may be signed on behalf of the City by such person or persons as at
the actual date of the execution of such Bond or coupon shall be the
proper official or officials of the City although on such date as may be
borne by such Bond or coupon any such person shall not have been such
official.
Before any Bond is executed or delivered, all coupons thereon then
matured shall be ent off and cancelled,
SEmow a07. Negotiability. All of the Bonds and coupons is-
sued pursuant to the Resolntion, subject to the provisions for registra-
tion and transfer herein and in the Bonds contained, shall be negotiable
instruments. The Bonds, except while fully registered as to both
principal and interest, shall pass by delivery. The City, any paying
agent and any other person may treat the bearer of any unregistered
Bond, the registered owner of any Bond registered as to both principal
and interest, and the bearer of any coupon appertaining to any un-
registered Bond, as the absolute owner of such Bond, or coupon, as
the case may be, for the purpose of receiving payment thereof and for
all other purposes, and neither the City nor any pacing agent shall be
affected by any notice or knowledge to the contrary, whether such
Bond or coupon shall be overdue or not. All payments of or on account
of interest to any bearer of any coupon appertaining to any unregistered
Bond, or to any, registered owner of any Bond registered as to both
principal and interest, and all payments of or on account of principal
to any bearer of any unregistered Bond, or to any registered owner
18
of any Bond registered as to both principal and interest, shall be valid
and effectual and shall be a discharge of the City and any paying agent
in respect to the liability upon the Bond or coupon or claim for interest,
as the case may be, to the extent of the sum or sums so paid.
Secriox 2.08. Registration. The Bonds may he registered as to
both principal and interest in the manner now provided in Chapter 1
of Division 6 of Title 1 of the Government Code of the State of
California, the provisions of which are incorporated herein and by
reference made a part hereof.
Servos 2.09. Places of Payment and of Notice. The Bonds and
coupons may be presented for payment or collection at the office of the
City Treasurer, San Luis Obispo, California, or at such other place
or places, if any, as may be specified in the respective Bonds and cou-
pons. All other notices, requests or demands addressed to the City in
respect of this Resolution and of the Bonds and coupons shall be served
or made to the City at the office of the City Clerk, City Hall, San Luis
Obispo, California.
Ss ov 2.10, Bonds Mutilated, Lost or Destroyed. The provi-
sions of Article 2 and Article 3 of Title 5, Division 2, Part 1, Chapter 3,
of the Government Code of the State of California, as they now read,
are hereby incorporated herein and made a part hereof with respect
to any Bonds mutilated, defaced, lost or destroyed, and with respect
to the issuance and payment of duplicate Bonds issued in lieu thereof.
ARTICLF. III
Issus of Banos
Se=os 3.01 issuance of Series A Bonds. At any time after the
adoption of this Resolution the City may issue, sell at not less than
their par value and accrued interest, execute and deliver all or any
part of the $420,000 aggregate principal amount of Series A Bonds
authorized hereunder. The City hereby warrants, represents, covenants
and declares:
(a) That the purpose for which the proceeds of the Series A Bonds
herein proposed and authorized to be issued shall be expended is the
acquisition, construction, establishment and improvement of those por-
tions of the Project comprising the acquisitions and improvements for
the Parking District (subject, however, to such eliminations, changes
and modifications as may be effected pursuant to and in accordance
19
with the limitations of the Law), including: payment of the coats of
the purchases of certain real properties, the cost of and the amount of
award of condemnation of any one or more portions of said real prop-
erties that cannot he so purchased, the cost of clearing and of removal
of existing structures now located on said real properties, the improve-
ment of said real properties as off-street parking lots by grading,
paving, fencing, curbing, lighting, installation of parking meters and
otherwise improving the same; payment of incidental expenses in
connection with the acquisitions and improvements for the parking-
. District; payment of all coats of issuance of the Series A Bonds; pay-
ment of the initial payment into the Reserve Fund as hereinafter pro-
vided; payment of the cost of all surveys, of preparation of all plans
and specifications and of all engineering, inspection and legal fees
payable in respect of the Project or the Series A Bonds, and reimburse-
ment to the City of funds advanced to pay any of the foregoing.
(b) That the City estimates that the Project as described in the
foregoing paragraph (a) will be completed from the proceeds of the
sale of Series A Bonds, including all incidental costs in connection
therewith, and that all such costs and expenses, and said initial pay-
ment into the Reserve Fund, will be fully paid from such funds; and
that no mechanics' liens will be permitted to be foreclosed in respect
of the Project, or any part thereof (the City reserving the right, how-
ever, to contest in good faith the validity of any such liens or claims).
Sacrms 3.02. General Provisions for Issuance of Additional
Bonds for the Project. In addition to the Series A Bonds isstmble under
Section 3.01 hereof, the City may issue and deliver Bonds of any other
series duly established pursuant to Section 2.05 hereof in such principal
amount as shall be determined by the Council and upon compliance by
the City with the provisions of this Section 3.02 and the Parking Dis-
trict Law, but subject to the following specific conditions which are
hereby made conditions precedent to the issuance of Additional Bonds,
viz.:
(a) The maturity date of the Additional Bonds last to mature
shall not be earlier than the last maturity date of any Bonds of any
Series then outstanding, and the Additional Bonds shall mature on
July 1 of each year; and serial maturities and/or minimum sinking
fund account payments sufficient in amount to retire all Bonds on or
before their respective maturity dates shall be established for each
series of Additional Bonds.
m
(b) The new or additional off-street vehicular parking facilities,
comprising improvements or extensions of the Project for the acquisi-
tion, construction, establishment, improvement, extension, maintenance,
operation or administration of which such Additional Bonds are author-
ized, shall have been recommended by an independent engineer as being
feasible from a practical and financial viewpoint.
(c) The aggregate amount of the Revenues as set forth below, as
shown by a certificate of an independent engineer, shall be equal to at
least 1.0 times the maximum annual debt service (as defined in Section
3.05 hereof) payable in any future year on all of the Bonds then out-
standing and on the Additional Bonds then proposed to be issued
whether on account of interest, serial maturities of principal, or mini-
mum sinking fund account payments plus the estimated "necessary
and reasonable maintenance and operation coats of the District parking
places" for the first 12-month period during which the additional off-
street vehicular parking facilities to be acquired or constructed from
the proceeds of Additional Bonds are in operation. Such aggregate
amount of Revenues shall consist of the sum of (i) Revenues accounted
for through the Revenue Find (excepting any Revenues derived from
any limited ad valorem assessment) during the immediately preceding
twelve-month period or for the last complete fiscal year prior to the
issuance of the Additional Bonds, and, at the option of the Council,
(ii) 75 i'o of the additional annual Revenues estimated by an independent
engineer to be received from off-street parking facilities which have
been constructed but which have not been in operation for a full year,
and (iii) 757e of any increase in annual Revenues estimated by an
independent engineer to be received as a result of any increases in off-
street vehicular parking rates or on -street meter parking rates which
have been made but which have not been in effect for a full year.
(d) The amount then in the Reserve Fund is not less than the
amount required to be maintained therein pursuant to paragraph (3)
of Section 5.05 hereof and all other payments and deposits required,
by the Resolution or any supplemental resolution, to be made by the
City_ shall have been made.
(e) The City shall have paid the principal of and interest on all
Bonds herein authorized to be issued and then outstanding, as the
same have become due and payable.
(f) Such Additional Bonds shall be sold for a price not less than
the principal amount thereof and accrued interest to date of delivery,
21
and the proceeds of the sale of the same shall be applied solely for the
acquisition, construction, establishment, improvement, extension, main-
tenance, operation, or administration of such new or additional off-
street vehicular parking facilities (including expenses or charges inci-
dental thereto, payments into the Reserve Fund for the payment of
principal and interest as hereinafter and in any supplemental resolution
provided, and interest on the Additional Bonds during construction of
such facilities and for a perial of not to exceed six (6) months there-
after) declared and designated by the Council as the acquisitions and
improvements of public parking facilities for the District to which the
proceeds of the Additional Bonds then proposed to be issued should
be applied.
(g) Such Additional Bonds shall le equally and ratably secured
with all Bonds herein authorized to be issued or to be subsequently
outstanding hereunder, without preference, priority or distinction
(other than with respect to terms of maturity and redemption ptrovi-
-ments or other funds or amounts for
sinus or sinking fund account Pa)
the security of such Additional Bonds) of any one Bond over any
other or of the Bonds of any one series over any other series. +
(it) The resolution providing for the issuance of such Additional
Bonds shall provide that the revenues from the parking facilities
acquired or improved with the proceeds of such Additional Bonds may
be used to pay the principal and interest on Series A Bonds on a parity
with such Additional Bonds.
(i) All provisions of the Parking District Law and any other
applicable law shall have been complied with.
Whenever the City shall determine to issue Additional Bonds the
City shall adopt or secure, and place on file in the offim of the City
Treasurer: -
(i) A resolution snpplernentary to this Resolution duly
adopted by the Council and certified by the City Clerk declaring
and defining the acquisitions and improvements for which the
proceeds of the Additional Bonds proposed to be issued shad be
expended and specifying the maximum amount of Additional Bonds
to be issued for said acquisitions and improvements and specifv-
ing the terms and conditions of such Additional Bonds in substan-
tial conformity with Section 3-) hereof;
(ii) A certificate or opinion of an independent engineer reeom-
mending the new or additional off-street vehicular parking facilities
22
pursuant to paragraph (b) of this Section 3.02 and certifying that
the Revenues are in the amount required by paragraph (c) of this
Section 3.02.
(iii) An opinion of Counsel setting forth (a) that he has
examined the supplemental resolution; (b) that the execution and
delivery of the Additional Bonds have been sufficiently and duly
authorized; (e) that the issuance of the Additional Bonds has been
duly authorized by any and all governmental authorities the con-
sent or approval of which is requisite to the valid issuance of such
Additional Bonds, or that no consent or approval of any govern-
mental authority is requisite to the valid issue of such Additional
Bonds; (d) that said Additional Bonds, when duly executed and
delivered by the City subject to the terms hereof and of such
supplemental resolution, will be valid and binding obligations of
the City payable from Revenues in accordance with the terms of
this Resolution; (e) that upon the delivery of the Additional Bonds
the aggregate principal amount of Bonds then outstanding under
this Resolution will not exceed the amount at the time permitted
by law or the then limits of indebtedness of the City, if any, author-
ized pursuant to this Resolution; (f) that the City has or will have,
upon completion of said acquisitions and improvements good mer-
chantable title thereto, free and clear of all liens and encumbrances,
and will he authorized to own, use and operate said acquisitions,
improvements or extensions of the Project and to use and apply
the Revenues therefrom for the payment of the Bonds issued
hereunder.
None of the foregoing conditions (excepting the condition that all
provisions of the Parking District Law and any other applicable law
shall be complied with) shall be applicable to the issuance and sale of
Additional Bonds provided that at or before, or simultaneously with,
the issuance of such Additional Bonds, provision has been duly made
for the call and redemption or retirement of all of the Bonds issued
hereunder and then outstanding.
SEmov 3.03. Disposition of Proceeds of Series A Bonds. All
cash received by the City upon the sale of Series A Bonds shall be
applied by the City as follows:
(a) All accrued interest, from the date of the Series A Bonds to
the date of payment of thepurchaseprice thereof, received upon tIte
23
sale of the Series A Bonds, shall he deposited by the City Treasurer in
the Parking District No. I Bond Service Fund referred to in paragraph
(a) of Section 5.05 hereof.
(b) The sum of $W,000 thereof shall be deposited by the City
Treasurer in the Parking District No. 1 Reserve Fund referred to in
paragraph (b) of Section 5.05 hereof.
(c) The balance of said proceeds (including any premium) shall
be set aside and deposited by the Treasurer of the City in a separate
fund to be known as the Parking District No. 1 Acquisition and Im-
provement Fund which is hereby created and which the City hereby
covenants and agrees to maintain. The proceeds of sale of the Series
A Bonds in the Parking District No. 1 Acquisition and Improvement
Fund shall be used solely for the purpose specified in Section 3.01
hereof, except that any balance remaining in said Fund on December
31, 1963, and after the accomplishment of said purpose shall be deemed
to be Revenues and, upon completion of the acquisition, construction,
establishment and improvement of the Project and the payment of costs
and fees provided for in Section 3.01 hereof, shall he deposited by the
Treasurer of the City in the Bond Service Fund provided for in Section
5.05 hereof and shall be used solely for the purposes thereof, or may
be used to pay the cost of additional acquisitions or improvements for
the District and expenses incidental thereto pursuant to proceedings
in accordance with the Parking District Law. Dloneys in said Parking
District No. 1 Acquisition and Improvement Fund may be invested by
the City in United States Treasury bills maturing prior to the time that
such moneys will be needed by the City for expenditure, as estimated
by the Treasurer of the City.
SE mov 3.04. Proceeds o/ Additional Bonds to Acquisition and
Improvement Fund. Whenever the City shall issue any Additional
Bonds under the provisions of Section 3.02 hereof, the City shall deposit
the proceeds of sale thereof (including any premium but excluding
accrued interest from the date of such Additional Bonds to the date
of payment of the purchase price thereof and excluding such portion
of the proceeds of sale thereof as shall be required by the provisions
Of the supplemental resolution authorizing the issuance of such Addi-
tional Bonds to he deposited in any fund or funds created by such
supplemental resolution for the security of such Additional Bonds)
in an Acquisition and Improvement Fund to be established for each
Additional Bonds.
24
Ssmox 3.05. Annual Debt Service Requirements for Issue of
Additional Bonds. Whenever, for the purpose of this Resolution, it is
necessary to calculate the maximum annual debt service required to be
paid out of the Revenue Fund in any fiscal year thereafter on account
of interest to accrue and principal to become payable on the bonds,
and serial maturities and/or sinking fund account payments sufficient
in amount to retire all Bonds on or before their fixed maturity dates
have been established, the said maximum annual debt service shall be
deemed to be the maximum amount payable on such Bonds in any fiscal
year (beginning with the fiscal year in which such calculation is made
and ending with the fiscal year in which the last of such Bonds by their
terms mature) on amount of (i) interest plus (ii) serial maturities of
principal of Serial Bonds or mandatory minimum annual sinking fund
account payments of Term Bonds. "Serial Bonds" means Bonds, falling
due by their terms in specified years, for which no mandatory minimum
annual sinking fund account is provided. "Term Bonds" means Bonds
payable at or before their specified maturity dates from mandatory
minimum annual sinking fund account payments established for that
purpose and calculated to retire such Bonds on or before their specified
maturity dates.
ARTICLE IV
REDEMPrmx
SEcrrox 4.01. Redemption of .Series A Bonds. The Series A
Bonds are redeemable before maturity at the prices and upon the terms
set forth in Section 2.04 hereof.
Sauriox 4.02. Redemption of Additional Bonds. Any series of
Bonds, other than the Series A Bonds, may he made subject to redemp-
tion prior to maturity as a whole at any time, or in part from time to
time, upon payment of the principal amount plus such premium or
premiums, if any, as may be determined by the Council at the time
such series is authorized and as shall be specified in the Bonds of the
respective series. Whenever provision is made in any resolution supple-
mental hereto, for the redemption of any Bonds prior to maturity
thereof, it shall be provided that if less than all of the redeemable
Bonds are redeemed at any one time such Bonds shall be redeemed
in the inverse order of their maturity dates and if less than all of
the redeemable Bonds maturing in any year are redeemed the numbers
zs
of the Bonds so redeemed shall be determined by lot. Whenever provi-
sion is made in any resolution supplemental hereto, for the redemption
of any Bonds by lot, the City Treasurer shall determine, in any manner
deemed by him to be fair, the serial numbers of the Bonds to be
redeemed by lot.
Szanox 4.03. publication of Notice of Redemption. The City
shall cause any notice of redemption to be published in one newspaper
printed in the English language and published, and of general circula-
tion, in San Luis Obispo, California, once a week (on any business day
of the week) for two successive calendar weeks (the first publication
to he not less than thirty (30) days nor more than sixty (60) days prior
to the redemption date). Notice of such intended redemption shall
state the redemption date and the redemption price and designate the
serial numbers of the Bonds to be redeemed by giving the individual
number of each Bond or by stating that all Bonds between two stated
numbers, both inclusive, or that all of the Bonds of any stated maturity,
or that all of the Bonds of any designated series authorized hereunder,
have been called for redemption, and shall require that such Bonds be
then surrendered with, in the case of coupon Bonds, all interest coupons
maturing subsequent to the said redemption date, at said office of the
City Treasurer (or, if the Bonds are also payable elsewhere, at the
option of the respective holders thereof, at the office of the paying agent
in any city in which the principal of any of the Bonds so to he redeemed
is payable), for redemption at the said redemption price, giving notice
also that further interest on such Bonds will not accrue after the
designated redemption date.
A similar notice shall also be mailed by the City to the original
purchaser of each series of Bonds issued hereunder, and to the respec-
tive registered owners of any Bonds designated for redemption at their
addresses appearing on the Bond registration books, at least thirty
(30) days but not more than sixty (60) days prior to the redemption
date; Provided that such mailing shall not be a condition precedent
to such redemption, and failure to mail or to receive any such notice
shall not affect the validity of the proceedings for the redemption of
such Bonds.
SECTION 4.04. Deposit of Redemption Funds. On or prior to the
redemption date specified in each such notice of redemption, the City
shall make available moneys sufficient to redeem, at the premium pay-
26
able as provided for with respect to the series of Bonds so called for
redemption, the Bonds designated for redemption and to pay the interest
accrued thereon up to said redemption date, such moneys to be applied
to the payment of such Bonds and such accrued interest thereon upon
presentation and surrender of such coupons, if any, and of such Bonds
together with, in the case of registered Bonds, duly executed instruments
of transfer at the office of the City Treasurer (or at such other place
or places, if any, as may be specified in such Bonds and coupons),
provided that in the case of coupon Bonds such part of the redemption
price as shall he represented by coupons maturing prior to, or on
the date of redemption shall continue to he payable (but without interest
thereon, unless the City shall make default in the payment thereof upon
demand) to the respective bearers of the coupons therefor upon presen-
tation and surrender thereof; and after the receipt by the City Treas-
urer of such deposit, such Bonds so called, whether or not presented
for redemption, shall cease to be entitled to any benefit under this
Resolution other than the right to receive payment of the redemption
price; no interest will accrue thereon on or after the redemption date
specified in such notice; claims for interest, if any, appertaining to
such Bonds after such redemption date shall be void; and the holders
of Bonds so called for redemption shall look after such redemption
date for the payment of such Bonds and accrued interest and premium
only to the funds held by the City Treasurer and allocated for that
purpose as hereinbefore provided; all provided that the funds allocated
as aforesaid remain available therefor.
The City Treasurer may make such suitable arrangements as to
him seem necessary or desirable to transfer funds to any Paving Agent
at whose office the Bonds so called for redemption may be presented
and to arrange for the payment and cancellation of such Bonds.
ARTICLE V
FEES, RATES AND CHARGES FOR PROTECT AND ON-STRRET PARKING ASF.TEES,
AND REDumoxs on INCREAsms THEREOF; RECEIPT AND DEFosrr of
REVENUES; ESTABLL%HMENT OF FUNDS AND RF.QrmEMENTs THEREFOR
SEcrIoN 5,01. Establishment of Fees, Rates and Charges. (a)
The City covenants and agrees that, so long as any of the Bonds remain
outstanding, it will at all times establish and collect or cause to be
established and collected, on -street packing meter fees for on -street
27
Parking meters in the District and fees, rates and other charges for
the use of the Project in such amounts that the Revenues as defined in
paragraph (n) of Section 1.01 hereof (excluding therefrom any limited
ad valorem assessments) pledged to pay the principal of and interest
on the Bonds issued hereunder will he at least equal to 1.0 times the
sum of the following (each with respect to the then immediately ensuing
twelve months):
(1) The interest payments for such twelve months on all of
the Bonds outstanding;
(2) The principal amount of all serial Bonds maturing by
their terms during such twelve months;
(3) The minimum amount of Term Bonds required to be called
and redeemed from the Sinking Fund during such twelve months;
and
(4) The necessary and reasonable maintenance and operation
costs of the District parking places.
(h) The City further covenants and agrees that so long as any
of the Bonds remain outstanding or for a period of thirty-six (36) years
from the date of the Series A Bonds, whichever period shall be shorter,
it will at all times, within the District
(i) maintain parking meters on the public ways within the District
as provided in the proceedings for the formation of the District under
the Parking District Law (or any proceedings hereafter taken under
said Law for the further Requisition or improvement of public parking
facilities for said District and the issuance of Additional Bonds there-
for under said Law), including the following public ways as described
in said proceedings for the formation of the District, to wit:
Both sides of Monterey between Osos and Chorro Streets;
South aide of Monterey between Charm and Broad Streets;
Both sides of iliguera between Santa Hosa and Nipomo Streets;
Both sides of harsh Stmet between Oars and Broad Streets;
Hoth sides of 0" between Monterey and Marsh Streets;
Both 'idea of Morro between Palm and Marsh Streets;
Bast side of Morro between Marsh and Paeifle Streets;
Feat side of Chorro between Palm and Biguera Streets;
Both sides of Chorro between Hitmere and Pacific Streets;
Both aides of Carden between Iligeera and 3larsh 4treets;
Both sides of Broad between Aiguera and Marsh Streets:
East side of Court between 3tonterer and Aiguera Streets;
WW side of O" between Palm and Mnntemy Streets;
South side of Monterey between Santa Ross and O" Streets
28
(ii) establish, maintain and enforce on -street parking regulations
relating to the use of parking meters; and
(iii) maintain all parking meters in good operating condition and
replace said meters as required.
If the City, in accordance with the Law, shall cease to maintain
parking meters on some or all of said public ways specified in said
proceedings or portions thereof, the City shall install and maintain
on other public ways within the District, on which meters are not now
installed, parking meters which will produce net revenues in an amount
equal to the net revenues of the parking meters no longer maintained
so that there will be no reduction in net on -street parking meter reve-
nues. The provisions of this Section 5.01 shall not be construed to pro-
hibit installation of new parking meters in areas within the District
in which such meters are not now located, removal or changes in loca-
tions of any parking meters necessitated by reason of public safety or
convenience, by street widening or street closing or by other traffic
control requirements, or reasonable variations or changes of locations
of parking meters, so long as Revenues are not reduced to less than
the amount thereof required by this Section 5.01.
The City further covenants that if and when and so long as parking
meters are installed and maintained on any of the public ways within
the District all gross revenues from such meters shall be included in
gross revenues from on -street parking meters as defined in Section
1.01(o) hereof.
(c) The City further covenants and agrees that all such fees, rates
and other charges for both off-street parking and on -street parking in
metered areas shall be payable in such coin or currency of the United
States of America as on the date of payment is legal tender for the
payment of public and private debts, or in scrip or tokens issued only
upon payment of the face value thereof in such coin or currency.
(d) Notwithstanding anv provisions of this Resolution and not•
withstanding any other agreement made by the City pursuant to the
Parking District Law, as a covenant to bondholders or otherwise, to
maintain parking meters on specified public ways, parking meters need
not be maintained:
(1) On any public way which has become a "freeway" or a
"state highway," as defined in Sections 23.5 and 24 of the Streets
and Highways Code;
2
(2) At any time and so long as both (i) the net revenues from
the operation of District parking places daring each of the two
next previous fiscal years and available for the payment of prin-
eipal and interest on the Bonds equaled or exceeded one and one-
half times the principal and interest which have or will come due
during the current fiscal year, and (ii) the money in the funds to
Pay principal and interest on the Bonds equals or exceeds all
amounts coming due on principal and interest during the next
following twelve months;
(3) At any time and so long as the money in the funds to pay
principal and interest on the Bonds equals the total of the out-
standing Bonds and the interest thereon to maturity;
(4) At any time after the Bonds and the interest thereon have
been fully paid; and
(5) On a public way, or portion thereof, if the holders of not
less than sixty per cent (607c) of the outstanding Bonds have
agreed in writing that the maintenance of parking meters on such
Public way, or portion thereof, may be discontinued.
Furthermore, the provisions of this Resolution or the provision. of
any other agreement shall not affect the right of the City, acting by
virtue of its police power, to control, regulate or prohibit the parking
of vehicles on any public way, or portion thereof, to the extent necessary
to protect the public safetv.
SECTION 5.02. colic
rates and other charges ction of Fees, Rates and Charges. All Pees,
for use of any of the facilities of the Project
shall be collected in cash for each use thereof not exceeding 24 hours,
or in advance for any use thereof exceeding 24 hours.
SECTION 5.03. Receipt and Deposit of Revenues —Revenue Fund.
The City covenants and agrees that all Revenues provided for in this
Article V, as and when received, will he received and held by the City
in trust hereunder and accounted for through a special fund to be desig-
nated the "Parking District No. 1 Revenue Fund" (herein referred
to as the "Revenue Fund"), which is herebv created and which the
City hereby covenants and agrees to maintain. All such Revenues shall
be disbursed, allocated and applied solely to the uses and purposes
hereinafter in this Article V set forth, and shall be accounted for sep-
arate and apart from all other moneys, funds or other resources of
the City. All moneys at any time paid into the Revenue Fund shall be
30
held by the City in trust for the benefit of the holder or holders from
time to time of the Bonds issued hereunder and the coupons apper-
taining thereto, entitled to be paid therewith, and the City shall not
have any beneficial right or interest in any of such moneys, except only
as in this Resolution provided.
SEmion 5.04, Pledge of Revenues. The City hereby places a
charge upon and pledges to the payment of the principal and interest
on the Bonds issued hereunder, as provided in Section 7.01 hereof, all
of the Revenues including all gross revenues from the operation of the
District parking places, all of the net on -street parking meter revenues
and all of the limited ad valorem assessments.
So long as any Bonds shall be outstanding hereunder, all Revenues
which are gross revenues from the operation of the District parking
places and all Revenues which are net on -street parking meter revenues
shall he deposited monthly (and on or before the fifth business day of
the calendar month next succeeding the calendar month during which
such Revenues have been collected and not later in any event than
April 7, 1961) by the Treasurer in the Revenue Fund created by Section
5.03 hereof and shall be used solely for the purposes thereof. So long
as any Bonds shall be outstanding hereunder, all Revenues which are
limited ad valorem assessments shall be deposited and used solely
for the purposes and as provided in Section 5.07 hereof.
SEMON 5.05. Establishment of Funds for Revenues. All moneys
in the Revenue Fund shall at the time hereinafter stated be set aside
and deposited by the Treasurer in the following order of priority in
the following respective special funds, viz:
(1) Parking District No.1 Bond Service Fund,
(2) Parking District No. 1 Sinking Fund,
(3) Parking District No.1 Reserve Fund,
(4) Parking District No. 1 Operation and Maintenance Fund,
each of which said funds is hereby created and each of which the City
hereby covenants and agrees to maintain. All moneys in each of said
funds shall be held in trust by the Treasurer and shall be applied, used
and withdrawn only for the purposes hereinafter authorized:
(a) Parking District D'o. 1 Bond Service Fund. The Treasurer
shall set aside out of the Revenue Fund and shall deposit in the Parking
District No. 1 Bond Service Fund in approxhnately equal monthly
installments, on or before the sixth business day of each month, an
31
amount equal to at least one -sixth of the aggregate half yearly amount
of the interest becoming due and payable on the outstanding Bonds of
all series on the next succeeding January 1 or July 1; provided, that
during the period from the date of delivery of and payment for the
Series A Bonds through the month of June, 1961, such payments shall
he sufficient on a pro rata basis to pay the aggregate interest becoming
due and payable on the Series A Bonds on July 1, 1961.
The Treasurer shall set aside out of the Revenue Fund and shall
deposit in the Parking District No. I Bond Service Fund in approxi-
mately equal monthly installments, on or before the sixth business day
of each month, an amount equal to at least one -twelfth of the aggregate
yearly amount of principal due and payable on the outstanding Bonds
of all series the next succeeding July 1. The first of such monthly pay-
ments shall be made not later than July 6, 1961. No payment need be
made into the Parking District No. 1 Bond Service Fund so long as
there shall be in the Parking District No. 1 Bond Service Fund moneys
sufficient to pay at least all of the interest to become due in the next
ensuing six months and also all of the principal of all Bonds issued
hereunder and then outstanding and maturing by their terms in the
next ensuing twelve months. All moneys in the Parking District No. 1
Bond Service Fund shall he used solely for the purpose of paying the
interest on and the principal of the Bonds as they shall become due and
payable.
(b) Parking District No. i Sinking Fund. The Treasurer shall
set aside out of the Revenue Fund and shall deposit in the Parking
District No. 1 Sinking Fund on or before the sixth business day of
each month, after setting aside all of the sums required to be set
aside by the Treasurer by the provisions of the foregoing paragraph
(a) an amount equal to at least one -twelfth of the aggregate of the
annual amounts (herein referred to as "Annual Sinking Fund Aa
count Payments") required by the provisions of this Resolution or
of any Supplemental Resolution to be paid during the then current
fiscal year into the respective Sinking Fund Accounts for the Bonds
of all series for which Sinking Fund Accounts shall have been created,
all of which said Annual Sinking Fund Account Payments shall he
made without priority of any payment into any one such Sinking Fund
Account over any other such payment. In the event that the Revenues
shall not be sufficient to pay in full all Annual Sinking Fund Account
Payments required to be paid at any one time into all such Sinking
32
Fund Accounts, then payments into all such Sinking Fund Accounts
shall be made pro rats, in such proportion that the respective Annual
Sinking Fund Account Payments required to be made into each Sink-
ing Fund Account during the then current fiscal year bears to the
aggregate of all of the Annual Sinking Fund Account Payments re-
quired to be made into all said Sinking Fund Accounts during such
fiscal year.
All moneys in any Sinking Fund Account shall (except as other-
wise provided in Article VI hereof) be used and withdrawn only to
purchase or redeem Bonds of the series for which such Sinking Fund
Account was created, as provided in this Resolution and any Supp6
mental Resolution.
There is hereby created within the Parking District No. 1 Sinking
Fund a Series A Sinking Fund Account, which the City hereby cov-
enants and agrees to cause to he maintained. The Treasurer shall, as
a part of each monthly payment for the Parking District No. I Sink-
ing Fund, set aside out of the Revenue Fund and shall deposit in the
Series A Sinking Fund Account on or before the sixth business day of
each month, commencing in June, 1976, after setting aside all sums
required to be set aside by the Treasurer by the provisions of para-
graph (a) of this Section 5.05 an amount equal to one -twelfth of an
amount (herein referred to as the Series A Sinking Fund Account Pay-
ment) which shall be sufficient to call and redeem Series A Bonds (in-
cluding premiums thereon but excluding acerued interest thereon which
is payable from the Parking District No. 1 Bond Serviee Fund) in
the following respective principal amounts on July 1 in each of the
following years:
Principal Amount PrhleiBal Amwa
oe Series A Bands of Sdn A Bona
to Be Called and Or N Called and
Year Bedeemd Yawl Badenad
1977 8201000 1982 $25,000
1978 20,000 1983 25,000
1979 20,000 1984 2.5,000
1980 20,000 1985 25,000
1981 20,000
All moneys in the Series A Sinking Fund Account may be used to pur.
chase Series A Bonds at public or private sale, as and when and at
such prices (including brokerage and other charges but excluding ac-
crued interest) as the City may in its discretion determine, provided
33
that no such price shall exceed the then current redemption price and
provided that the City shall call and redeem Series A Bonds from the
Series A Sinking Fund Account pursuant to Section 2.04 and Article
IV hereof whenever on the tenth business day of any May or Novem-
ber, beginning in May, 1966, there are moneys in the Series A Sinking
Fund Account available for said purposes in an amount sufficient to
redeem at least $1,(100 principal amount of Series A Bonds. The City
hereby covenants and agrees with the holders of the Series A Bonds to
call and redeem Series A Bonds from the Series A Sinking Fund Ac-
count pursuant to said Section 2.04 and said Article IV whenever on the
tenth business day of any May or November, beginning in May, 1966,
there are moneys in the Series A Sinking Fund Account available for
said purposes as in this paragraph (b) Provided.
(c) Parking District No. 1 Reseme Fund. The Treasurer shall
set aside out of the Revenue Fund (the initial payment into which is
provided for in paragraph (b) of Section 3.03 hereof) on or before
the sixth business day of each month all moneys in the Parking District
No. 1 Revenue Fund that shall be required to maintain the Parking
District No. 1 Reserve Fund in the amount of $.40,000, so long as any
Series A Bonds are outstanding; provided that if any Additional Bonds
are issued hereunder the minimum amount to be maintained in said
Reserve Fund shall he the amount then equal to the maximum annual
debt service on all of the Bonds issued hereunder and then outstand-
ing. No payment need be made ,into the Parking District No. 1 Reserve
Fund so long as there shall be in said fund a sum at least equal to
said required amount. All moneys in the Parking District No. 1 Re-
serve Fund shall be used and withdrawn solely for the purpose of pay-
ing the principal of and interest on the Bonds, or any part thereof,
or to call and redeem Bonds in the minimum amounts (or any part
thereof) required to be called and redeemed from the Sinking Fund,
in the event that no other funds of tha City are then available therefor.
(d) Parking District No. l Operation awl bfaintenance Fred. The
amount budgeted by the City for operation and maintenance of the
Project during the then current fiscal year shall he a charge against
moneys in the Revenue Fund, which shall be amounted for through
the Parking District No. 1 Operation and Maintenance Fond, and after
making or providing for the transfers required by paragraphs (a),
(b) and (e) preceding, the Treasurer shall set aside out of the Revenue
34
Fund and deposit in the Parking District No. 1 Operation and Main-
tenance Fund, from time to time on a monthly basis as nearly as prac-
ticable, such amount as is reasonably required by the City for opera-
tion and maintenance of the Project. The amount so budgeted for
operation and maintenance shall be the reasonable and necessary oper-
ation and maintenance costs of the Project, calculated in accordance
with sound accounting principles, but without allowance for deprecia-
tion or obsolescence.
(e) All moneys remaining in the Revenue Fund after the sixth
business day of each month after setting aside all of the sums required
to be set aside by the provisions of the foregoing paragraphs (a), (b),
(c) and (d), shall be used and withdrawn pursuant to the provisions
of any supplemental resolution hereafter adopted by the Council solely
for the purpose of deposit in such fund or funds or accounts as may be
created by any such supplemental resolution for the redemption or
security of bonds of any series, other than the Series A Bonds, here-
after issued hereunder, provided that until the creation of any such
fund or funds or accounts and subject to the provisions of any such
supplemental resolution hereafter adopted by the Council, said moneys
may be used and withdrawn by the Treasurer as directed by a resolu-
tion of the Council for any one or more of the following purposes:
(i) to pay any reasonable operation and maintenance costs
of the Project for the then current fiscal year for which no ade-
quate budgeted amount was provided by the City;
(ii) for payment by the City of the cost of extensions or im-
provements of the Project;
(iii) to be applied to the purchase of bonds at public or pri-
vate sale, as and when and at such prices (including brokerage and
other charges, but excluding accrued interest, which is payable
from the Parking District No. 1 Bond Service Fund) as the City
may in its discretion determine, provided that no such price shalt
exceed the highest redemption price or then current redemption
price of the bonds so purchased, whichever is lower, and that all
bonds so purchased shall be cancelled;
(iv) to be applied to the redemption of bonds pursuant to
Section 2.04; or
(v) to be transferred to any other Fund or account hereby
established to be used for the purposes thereof, or to the General
Fund of the City to be used for any lawful purpose.
35
Sxexmx 5.O6. Investment of Revenues. All moneys constituting
Revenues and allocated by the Treasurer to any of the funds, other
than the Parking District No. 1 Reserve Fund, shall be held in time
or demand deposits, which shall be secured, to the extent required by
law, if any, and shall not be invested, except that such moneys may he
invested in direct negotiable obligations of the United States of Amer.
ica maturing prior to the date on which such moneys are needed for
expenditure or payment. 111onevs allocated to the Parking District No, 1
Reserve Fund may he held in time or demand deposits secured as re-
quired by law, but the Treasurer may invest any or all of the Parking
District No. 1 Reserve Fund, not then required to be applied to the
payment of the principal of or interest on Bonds, in direct negotiable
obligations of the United States of America, or in negotiable obliga-
tions fully guaranteed as to both principal and interest by the United
States of America, or in negotiable obligations of the State of Cali-
fornia, maturing not more than twelve (12) years from date of pur-
chase. All income from all investments made by the Treasurer pur-
suant to this Section shall be deposited by the Treasurer in and for
the purposes of the Parking District No. 1 Revenue Fund created by
Section 5.03 hereof.
Srertos 5.07. Pledge of Ad Vnlorem Assessments. The City
covenants that, suhject only to the limitations as to time and rate here-
inafter specified, it will levy and collect each year a limited ad valorem
assessment upon all taxable real property in Parking District No. 1
of the City of San Lois Obispo (except public places and ways in use
in the performance of a public function) to the extent to which gross
revenues from the operation of the District parking places and the
net on -street parking meter revenues for the then current fiscal year,
have been, or are expected to be, insufficient to pay the principal and
interest of the Bonds, and to the extent to which the Parking District
No. 1 Reserve Fund established for said Bonds has been, or will be,
used to pay such principal and interest or to call and redeem Bonds in
the minimum amounts required to be called and redeemed from the
Sinking Fund, clearly sufficient to pay the principal of and interest on
the Bonds or to rebuild and reestablish said Parking District No. 1
Reserve Fund to the full amount required to he maintained therein.
The rate of ad valorem assessment shall be fixed by the Council each
year in accorlance with the provisions of this Resolution; the limited
ad valorem assessments shall not exceed the following limits, to wit:
36
thirty-six (36) years from the date of the Series A Bonds, as to time,
and seventy-five cents (.75) on each $100 of assessed valuation of all
taxable real property in said Parking District No. 1, as to rate. Said
ad valorem assessment shall be levied, collected and enforced in the
same manner, at the same times, and with the same penalties and inter-
est, as in the ease of taxes levied for the City of San Luis Obispo. The
proceeds of any such levy shall be used to the extent necessary to re-
place any deficiency in the Parking District No. 1 Reserve Fund and
any balance shall be deposited in the Parking District No. 1 Bond
Service Fund.
Such assessment shall be levied and collected in any event when-
ever on any August 2nd the Parking District No. 1 Reserve Fund
contains less than the minimum amount then required to be maintained
therein.
ARTICLE VI
EVENTS OF DEFAULT AND REMEDIES ON DEFAULT
SF.CTiON 6.01. ,cents of Default: Application of Revenues. if
one or more of the following events (herein called "events of default')
shall happen, to wit:
(a) if default shall be made in the due and punctual payment
of the principal of any Bond when and as the same shalt become
due and payable, whether at maturity as therein expressed, by
proceedings for redemption, by declaration or Otherwise;
(b) If default shall be made in the due and punctual payment
of any installment of interest on any Bond when and as such inter-
est installment shall become due and payable, and such default
shall have continued for a period of thirty (30) days;
(e) If default shall be made in the due and punctual payment
or satisfaction of any minimum sinking fund amount ao anent
when and as such sinking fund account payment
due
and payable, and such default shall have continued for a period
of thirty (30) days;
(d) If default shall be made by the City in the observance
of any of the covenants, agreements or conditions on its part in
this Resolution or any supplemental resolution or in the Bonds
contained, and such default shall have continued for a period of
thirty (30) days; or
37
(e) If the City shall file a petition or answer seeking reorgani.-
zatlon or arrangement. under the Federal Bankruptcy laws or any
other applicable law or statute of the I?nited States of America,
or if a court of competent jurisdiction shall approve a petition,
filed with or without the consent of the City, seeking reorganization
under the Federal Bankruptcy laws or any other applicable law
or statute of the United States of America, or if under the provi-
sions of any other law for the relief or aid of debtors any court
of competent jurisdiction shall assume custody or control of the
City or of the whole or any substantial part of its property;
then and in each and every such case the holders of not less than a
majority in aggregate principal amount of the Bonds at the time out-
standing shall he entitled, upon notice in writing to the City, to declare
the principal of all of the Bonds then outstanding hereunder and the
interest accrued thereon to be. due and payable immediately, and upon
any such declaration the same shall become and shall be immediately
due and payable, anything in this Resolution or in the Bonds contained
to the contrary notwithstanding.
All of the Revenues of the Project, including all sums in the Reve-
nue Fund provided for in Section 5.03 hereof and in all of the foods
provided for in Section 5.05 hereof upon the date of the happening of
any event of default and all stuns thereafter received by the City Treas-
nrer hereunder shall be applied by the City Treasurer in the order
following upon presentation of the several Bonds and coupons, and
the stamping thereon of the payment if only partially paid, or upon
the surrender thereof if fully paid:
First, to the payment of the costs and expenses of the holders
of the Bonds in declaring such event of default, including reason-
able compensation to their agents, attornevs and counsel;
Second, in case the principal of the Bonds shall not have
become due and shall not then be due and payable, to the payment
of the interest in default in the order of the maturity of the install-
ments of such interest, with interest on the overdue installments at
the rate of five per eentum per annum (to the extent that such
interest on overdue installments shall have been collected), such
payments to be made ratably to the persons entitled thereto without
discrimination or preference;
3
Third, in case the principal of the Bonds shall have become
due and shall then be due and payable, to the payment of the
whole amount then owing and unpaid upon the Bonds for principal
and interest, with interest on the overdue principal and install.
ments of interest at the rate of five per mature per annum (to the
extent that such interest on overdue installments of interest shall
have been collected), and in case such moneys shall be insufficient
to pay in full the whole amount so owing and unpaid upon the.
Bonds, then to the payment of such principal and interest without
preference or priority of principal over interest, or of interest over
principal, or of any installment of interest
over any of such pr'h er er in tand
all-
ment of interest, ratably to the aggregate
interest.
Sscrnox 6.02. Rights of Holders of Bondsoft Default.
Sof the
ubject
to any contractual limitations binding upon the holders an
Bonds, any holder of Bonds shall have the right; for the equal benefit
and protection of all holders of Bonds similarly situated:
(a) By mandamus or other suit, action or proceeding at law or
in equity to enforce his rights against the City and theand compel
ouncil and
any of its officers, agents and employees, and to require
the City or the Council or any such officers, agents or employees, to
perform and carry out its and their duties and obligations under the
Constitution and laws of the State of California, including the Parking
District Law of IN'U, and its and their covenants and agreements with
the holders of the Bonds as provided in this Resolution;
(b) By action or suit in equity to require the City and the Council
to account as if they were the trustee of an express mist; or
(c) By action or suit in equity to enjoin any acts or things which
maybe unlawful or in violation of the rights of the holders of the
Bonds.
No remedy conferred hereby upon any holder of Bonds is intended
to be exclusive of any other remedy, but each such remedy is cumulative
and in addition to every other remedy and may be exercised without
exhausting and without regard to any other remedy conferred hereby.
No waiver of any default or breach of duty or contsubsequent by tidefault le er
of any Bond shall extend to or shall affect any
breach of duty or contract or shall impair any rights or remedies
thereon. No delay or omission of the holder of any Bond to exercise
39
any right or power acerning upon any default shall impair any such
right or power or shall be construed to he a waiver of any such default
or acquiescence therein. Every- substantive right and remedy conferred
upon the holders of the Bonds may be enforced and exercised from
time to time and as often as may be. deemed expedient. In case any
suit, action or proceeding to enforce any right or exercise any remedy
shall be brought or taken and then discontinued or abandoned, or shall
he determined adversely to the holders of the Bonds, then, and in every
such case, the City and the holders of the Bonds shall he restored to
their former positions and rights and remedies as if no such suit, action,
or proceeding had been brought or taken.
ARTICLE PII
COWNAV" OF THE CrrY
Ssmox 7.01. F,quulity of Security. All of the Bonds, regardless
of the date of issue and sale, shall be secured by an exclusive pledge of
and charge upon the Revenues and the City hereby pledges and assigns
for the security of the Bonds all of the Revenues. The suns required
to meet the payment of interest and principal of all of the Bonds
shall be secured by an exclusive pledge of and charge upon all of the
Revenues; and all of such Revenues, together with any interest or
profits thereon, and the funds provided for in Section 5.05 hereof and
any other funds that may hereafter be created from such Revenues for
the payment of principal or interest or the better securing of the pay.
ment of principal of or interest on any of the Bonds, are irrevocably
pledged to and constituted a trust fund for the security and payment
or redemption of, and the security End payment of interest on, all of
the Bonds in accordance with the terms thereof and the provisions of
this Resolution and, except as otherwise specifically authorized by this
Resolution, shall not be used for any other purpose as long as the Bonds
or any of them or the interest thereon are outstanding or unpaid; except
that out of said Revenues there may be apportioned so long as the
interest on and the principal of all of the Bonds are paid as the same
become due and payable, together with all other charges required for
the protection or better securing of the Bonds, such smns as are
permitted to be paid as provided in paragraphs (d) and (e) of Section
5.05 hereof. The City is hereby constituted a trustee to collect, receive,
hold and disburse, as in this Resolution provided, all funds received
40
by it under any of the provisions of this Resolution and is hereby
constituted a trustee to administer, allocate and disburse, as in this
Resolution provided, all funds received by it under any provision of
this Resolution, with all the powers and duties herein prescribed.
Secrwa 7.02. Equality of Bonds. All Bonds issued hereunder,
whether in the form of serial Bonds or term Bonds, and irrespective
of series, shall rank equally as to security, regardless of the time or
times of their issue, and shall be entitled to no priority one over another,
or as between Bonds having the same serial maturities, with respect to
any Revenues or other funds pledged as security for or available for
the payment thereof, except as expressly provided therein or herein.
Sxcrmw 7.03. Pumbud Par/ment. The City covenants that it will
dnly and punctually pay or cause to be paid the principal of and interest
on all the Bonds, together with the premium thereon, if any he payable,
in strict conformity with the terms of such Bonds and of this Resolution,
and that it will faithfully observe and perform all of the conditions,
covenants and requirements of this Resolution and all resolutions sup-
plemental hereto and of the Bonds issued hereunder.
Sramx 7.04. Against F,neumbrances. (a) The City covenants
that it will not create or give, or permit the creation or giving of, any
mortgage, lien or pledge on any personal or real property or equipment
used in connection with or related to the Project, or its operation, or
upon any Revenues or other funds pledged or held hereunder, except as
security for all of the Bonds issued hereunder, and that it will not
permit the sale, lease, or other disposition of (i) the Project or any
part thereof essential to its operation or necessary to the maintenance
of its Revenues, or (ii) the on -street parking meters established and
operated as provided in, and pursuant to the provisions of, Section
5.01 hereof, so long as any of the Bonds remain outstanding; provided,
however, that the City may, to the extent permitted by and subject to
the limitations of the Constitution and laws of the State of California,
lease to any person or persons such portions of the Project as the
Council may deem advisable for purposes not inconsistent with the
pnrposes of the Project, provided that the net revenues to the City
from each such lease shall be and become part of the Revenues of the
Project, and provided, further, in making any such lease none of the
Cit}'s obligations or covenants set forth in Section 5.01 hereof shall
be in any way lessened or impaired.
41
(b) The City may, subject to the limitations of Section 7.14 hereof
and the Law, sell any part of the Project for cash at a price found by
the Council to be not less than the fair market value thereof if it obtains
a certificate of an Independent Engineer:
(i) That after deducting that portion of the net Revenues for
the latest fiscal year ended prior to said sale which are allocable to
the part of the Project to be sold, the net Revenues for said latest
fiscal year ended prior to said sale (exclusive of limited ad valorem
assessments) shall have amounted to at least one and one -tenth
(11/10) times the maximmn annual debt service on all of the
Bonds outstanding hereunder at the end of said fiscal year;
(ii) That the continued use under other ownership, for the
purpose of off-street parking, of the part of the Project to be sold
will not adversely affect the annual net Revenues; and
(iii) That the net Revenues for the then current fiscal year
will be equal to at least one and one -tenth (1 1/10) times the maxi-
mum annual debt service on all Bonds outstanding hereunder at
the beginning of said current fiscal year.
The City further covenants and agrees that if any part of the
Project shall be sold as aforesaid, the net proceeds realized by the
City therefrom shall be deposited by the Treasurer of the City in a
special fund; that if the Council in its discretion shall so determine, all
moneys in said special fund shall he used to acrluire and construct
public off-street vehicular parking facilities which shall be extensions
of the Project; and that if said moneys cannot be so used or if the Conn.
ell in its discretion shall determine that all or any portion of said moneys
shall not he so used, then said moneys or said unused portion thereof
shall be forthwith deposited by the Treasurer of the City in the Reserve
Fund to the extent necessary at that time to restore the Reserve Fund
to the amount required by paragraph (c) of Section 5.05 hereof to he
maintained in the Reserve Fund and shall deposit any remaining bal-
ance of said moneys received by it in the Sinking Fund provided for in
paragraph (b) of Section 5.05 hereof, said moneys to be divided among
all sinking fund accounts in the proportion that the principal amount
of Bonds then outstanding hereunder to he retired with moneys in each
.such sinking fund account bears to the total principal amount of all
Bonds then outstanding hereunder to be retired from all such sinking
fund accounts.
az
Sscrrnx 7.05, Contvnence Arquisition and Construction and Main,
tevmnce and Operation of Project. The City covenants that,
as funds are available therefor, the Citv will conmienee the accomplishsoon
meet of the as soon
the same to com�aea for which the Bonds are issued and will continue
completion with
all practical dispatch and in an economical
manner.
The City covenants that the Project meters in the District shall including all on -street parking
at all times be operated and maintained
in an efficient and economical manner and in good
condition and in such working order and
manner that the operating efficiency thereof
shall be of the highest character and so that all lawful ardera of any
governmental agency or authority having jurisdiction l the premises
shall 6e complied with (provided the Cih• shall not be required es
comply with any such orders so long as the validity or applicatioto
n
thereof shall he contested in good faith), The City will from time to
time duly Pay and discharge, or cause to be paid and discharged, to
taxes (if any), assessments or other governmental charges lawfully
rmposee upon the Pra)set, or upon any part thereof or upon an
on -street parking meters in the District, or upon the Revenues, when
the same shall become y
materials or suppliesdue, as well as any lawful claim for labor,
rhor other charges which, if unpaid, might by law
become a lien or charge upon the Project or the Revenues or said
meters, or which might impair the security of the Bonds.
gsrnos 7.06. lasaerance. The City covenants that upon the
chase or acquisition by it of any real property Comprising of the Project it w-ilk obtain and Pun
P g any portion
from a recognized title insurance Cy for a policy of title insurance
fall purchase price or cost of acquisition of such real pring tile roperty. for the
The City shall take out and maintain or otherwise provide for
t fidelih- insurance or a fidelity bond or bonds covering all employees,
at any time employed on the Project or any portion thereof, who
receive or handle Revenues of the Project, in an amount au0icient to
ever the maximum amount Of Revenues so received or handled by
each such employee during any calendar week; (ii) Public liability
insurance in an amount of not less than $43M RN1 for injuries, including
death, to any one person, and, subject to the same limitation for each
Person, in an amount of not less than $300,gN) for injuries, including
death, to two or more persons on account of any one accident in con-
aeetion with the operation of the Project, for which the City is legally
43
liable; and. (iii) property damage insurance in an amount not less
than $1.00,000 for each accident or loss, including loss by fire occurring
to any property on any portion of the Project, for which the Cit_v is
legally liable. Such insurance described in the foregoing clauses (i),
(if) and (fill may be provided as a part of the City comprehensive
fidelity, public liability and prolwrty damage insurance and not
separately for the Project. All insurance premiums pavable with
respect to any of the foregoing insnrance or fidelity bonds (or such
proportion thereof as shall he applicable to the Project) may be paid
from the Parking District No. 1 Operation and Maintenance Fund,
except that premiums on title insurance may be paid from the Parking
District No. 1 Acquisition and Improvement Fund.
Srcrrov 7.07. Accounts. The City- covenants that it will keep and
provide accurate books and records of account showing all Revenues
received from the Project including on -street parking meters and all
expenditures relating thereto, and that all such books and records
pertaining to the Project shall be open at all times during business
hours to the holder or holders of not less than ten per centum (10%)
of the principal amount of Bonds then outstanding, or his or their
representatives duly authorized in writing. Within one hundred and
twenty (1?0) days after the close of each fiscal year ending June 30,
so long as any of the Bonds remain outstanding, the City will prepare
and file with the City Treasurer a detailed statement of'the Revenues
and expenditures for such fiscal year and a detailed balance sheet,
taken at the close of such fiscal year, for the entire Project; all
accompanied by a certificate or opinion in writing of an independent
certified public accountant of recognized standing, selected by the City,
which certificate or opinion shall include a statement m to the manner
and extent to which the City has complied with the provisions of this
Resolution as it relates to said Revenues, expenditures and balance
sheet. The City covenants that it will cause a consolidated statutory of
such Revenues and expenditures and balance sheet to he published
not later than one hundred and fifty (150) days after the close of each
fiscal year, in a daily newspaper printed in the Ynglish language and
published and of general eirculatinn in the City of San Luis Obispo,
California. Such consolidated summary may be published separately
or along with the City's regular financial statement, but as a separate
supplement thereto. Copies of such consolidated summary as so pub-
lished shall be delivered to the Treasurer in such reasonable quantities
44
as may In, required for distribution to investment bankers, security
dealers, and others interestxf in the Bonds, and to the holders of
Bonds requesting copies thereof. All the reports and other documents
required under this Resolution shall be available for inspection by
the holders of the Bonds at the office of the City Clerk.
Sscrrox MA. Paying Agents. So long as any of the Bonds re-
main outstanding, the City will at all times keep in each city in which
any of the Bonds shall be expressed to be payable, as to either prin-
cipal or interest, an office or agency where the Bonds and the interest
coupons, which by their terns are payable in such city, may be pre-
sented for payment, and will from time to time give written notice to
each Paying Agent of the location of each such office or agency.
Sernos 7.09, Maintenance of Powers. The City covenants that
it will at all times use its best efforts to maintain the powers, functions,
duties and obligations now reposed in it pursuant to law, and will
not at any time voluntarily do, suffer or permit any act or thing the
effect of which would be to hinder, delay or imperil either the payment
of the indebtedness evidenced by any of the Bonds or the performance
or observance of anv of the covenants herein contained.
,S', ACTION 7.10. Limitation upon. Amendatory Resolutions. The
City will not adopt any resolution or take any action or proceeding
for the purpose of amending, altering or modifying any of the pro-
visions of this Resolution, except in the manner and subject to the
limitations set forth in Article I% hereof.
SEcrIox 7.11. Condemnation Proceeds. If all or anv portion of
the Project shall be taken by eminent domain proceedings or other
proceedings authorized by low-, the net proceeds realized by the City
therefrom shall be deposited with the Treasurer in trust for the exclu-
sive benefit of the holders of all of the Bonds then outstanding, and
all such holders shall have the right and shall be, entitled to share in
such proceeds equally and ratably in the proportion which the prin-
cipal amount of Bonds owned by auch holder bears to the principal
amount of all of the Bonds then outstanding, without preference or
priority of any one Bond, or of any series thereof, over any. other
Bond or any other series, but subject to the following condition, to
wit: If the Project or portion thereof so taken by condemnation can
he replaced from the proceeds realized by the City from said
con-demnation (and of other fonds available therefor), then the City shall
have the right to replace or reconstruct the Project or portion thereof
•
45
so taken out of the net proceeds realized by the City from said con-
demnation (together with any other available Funds).
Notwithstanding anything herein contained, if in the opinion of
Council (which shall be final), as set forth in a resolution of the Coun-
cil adopted by two-thirds of all of the members thereof, the net pro-
ceeds realized by the City as a result of any eminent domain proceed-
ings are relatively nominal in amount and such eminent domain
proceedings do not materially affect the ability of the City -to meet
the payments herein required to be made from Revenues, then in lien
of a pro rats distribution to the bondholders of such net proceeds,
the same shall be deposited in the Revenue Fund and considered and
treated as additional Revenues hereunder.
SECTION 7.12. Limitation of Expenditures; Contribution by City.
The City makes the covenants herein to be perfornied by the City or
its proper officers, agents or employees; provided, however, that said
covenants and other provisions of this Resolution shall not require
the City to expend for any purpose of this Resolution any funds other
than the net revenues from on -street parking meters, the gross reve-
nues from the operation of the District parking places and the pro-
ceeds of any limited ad valorem assessment levied pursuant to this
Resolution, any Supplemental Resolution, and the Parking District Law.
Scorns 7.13. Council to Act as Parking Place Commission. The
City covenants that, in accordance with the provisions of the Parking
District Law- and proceedings thereunder the Council will perform all
of the duties of a Parking Place Commission and shall duly perform
all the functions and acts enjoined upon it by the Parking District Law.
SEC ion 7.14. Competing Facilities. The City covenants and
agrees that neither it nor the Parking District will operate, nor will
it permit any person to operate on property- m-ned by, leased by or
otherwise under the control of the Citc, any public off-street automotive
or vehicular parking facility within the area of the District which
would impair the ability of the City to comply with the obligations of
Section .5A1 hereof.
Szerms 7.15. Further Assurances. The City covenants that it
will make or adopt and execute, or cause to hemade, adopted and
executed, any and all such further resolutions, acts, deeds, convey-
ances, assignments or assurances as may be reasonably required for
effectuating the intention of this Resolution, and for the better assuring
and confirming unto the holders of the Bonds of the rights and benefits
provided in this Resolution.
N
ARTICLE N7I11
MomnCAT30N ANn AMENDMENT OF RE90LLMON
swvov 9,01. Amendment by Written Consent of Bondholders.
This Resolution and the rights and obligations of the City and of the
holders and registered owners of the Bonds and coupons may be modi-
fied or amended at any time by resolution supplemental hereto adopted
with the written consent of the holders of CA% in principal amount of
each series of Bonds issued hereunder acting separately and ae a
class as the holders of each such separate series, exclusive, however,
If Bonds disqualified as provided in section 9.02 hereof; but no such
modification or amendment shall extend the maturity of or reduce the
interest rate on, or otherwise alter or impair the obligation of the City
to pay the principal (other than modification of the sinking fund
account or reserve fund of any series or the Parking District No. 1
Reserve Fund provisions set forth in Article P hereof), or interest
or redemption premiums at the time and place and at the rate and
in the currency provided therein of any Bond without the express
written consent of the holder or registered owner of such Bond, nor
permit the creation by the City of any mortgage or pledge or lien on
the Project, or upon any Revenues or other funds pledged or held
hereunder, nor reduce the percentages of Bonds required for the written
consent to an amendment or modification.
The Council may at any tune adopt a valid resolution amending
the provisions of this Resolution or of any resolution amendatory
hereof or supplemental hereto, or any two or more of the foregoing, to
the extent that such an amendment is permitted by the provisions of
this Section, to take effect when and as provided in this Section. A
copy of such resolution, together with a request to Bondholders for
their written consent thereto, shall be published at least once in a
daily newspaper published in the English language and having a gen-
eral circulation in the City, such publication to be made not more than
twenty (20) days after the date of the adoption of such resolution.
Such resolution shall not be effective unless there shall have been filed
with the Council the written consents of the percentages of holders of
outstanding Bonds specified in this Section. Each such consent shall
be effective only if accompanied by proof bconsent f ownership
of thebe Bonds
for which such consent is given. Any such
ing
upon the holder of the Bonds -giving such consent and on any subse-
quent holder (whether or not such subsequent holder has notice
47
thereof). After the holders of the required percentages of Bonds shall
have filed their consents to the resolution, the City Clerk shall publish
a notice to the Bondholders in the manner provided hereinabove for
the publication of the resolution referred to hereinabove stating in
substance that the resolution has been consented to by the holders of
the required percentages of Bonds and has become effective,
Sscxrou 9.02. Disqualified Bonds. Bonds owned or held by or
for the account of the City, the State of California or any political
subdivision thereof (including any municipal corporation, district, or
any public corporation, board or agency thereof, of any class or kind,
but excluding Bonds held in any state, county, city or other public
pension or employees retirement fund) shall not be deemed outstanding
for the purpose of any consent or other action or any calculation of
outstanding Bonds in this Article VIII provided for, and shall not be
entitled to consent to, or take any other action in this Article pro-
vided for. For the purpose hereof no bank organized under the laws
of the State of California and no national banking association doing
business in said State or elsewhere, shall be deemed to be an agency
of said State.
ARTICLE IX
11ltscs Alwtous
SEcrrox 10.01. Liability of City Limited. Notwithstanding Any-
thing in this Resolution contained, neither the payment of the principal
of or interest on any Bond issued pursuant to this Resolution shalt
constitute a debt, liability or obligation of the City, except as provided
in the Parking District Law of 1951 or in this Resolution.
SEc2mx 10.01 Benefits of Resolution Limited to Parties and
Bondholders. Nothing in this Resolution, expressed or implied, is
intended or shall be construed to confer upon, or to give to, any person,
firm or corporation other than the parties hereto and the holders
and registered owners of the Bonds outstanding, any right, remedy,
or claim under or by reason of this Resolution, and any covenants,
stipulations, promises and agreements in this Resolution contained by
and on behalf of the City shall he for the sole and exclusive benefit
of the parties hereto, and of the holders of the Bonds and of the coupons
outstanding.
SECTmx 10.03. Successor is Deemed Included in all References
to Predecessor. Whenever in this Resolution or any supplemental
48
resolution either the City or any Paying Agent is named or referred
to, such reference shall be deemed to include the successors or assigns
thereof, and all the covenants and agreements in this Resolution con-
tained by or on behalf of the City or by or on behalf of any Paying
Agent shall bind and inure to the benefit of the respective successors
and assigns thereof whether so expressed or not.
sEcrjov 10.04. Discharge of Resolution. If all of the outstanding
Bonds shall have matured, or shall have been duly called for redemp-
tion and the redemption date thereof shall have arrived, and if the
City shall have on deposit in trust, funds pursuant to this Resolution
sufficient to pay and available for the payment of all amounts due on
all Bonds, including all principal, interest and redemption premiums,
then, at the election of the Council, evidenced by notice in writing exe-
cuted by the City, and notwithstanding that any Bonds or interest
coupons shall not have been surrendered for payment, the pledge of
the Revenues and other Funds provided for in this Resolution and all
other obligations of the City under this Resolution shall cease and
terminate, except only the obligation of the City to pay or cause to
be paid to the holders of the Bonds and interest coupons not so sur-
rendered and paid all sums due thereon.
SEmox 10.05. Execution of Documents by Bondholders. Any
request, declaration or other instrument which this Resolution may
require or permit to be signed and executed by Bondholders may be
in one or more instruments of similar tenor, and shall be signed or
executed by Bondholders in person or by their attorneys appointed
in writing.
Except as otherwise herein expressly provided, the fact and date
of the execution by any Bondholder or his attorney of such request,
declaration or other instrument or writing appointing such attorney
may be proved by the certificate of any notary public or other officer
authorized to take acknowledgments of deeds to he recorded in the
State in which he purports to act, that the person signing such request,
declaration or other instrument or writing acknowledged to him the
execution thereof, or by an affidavit of a witness of such execution,
duly sworn to before such notary public or other officer.
Except as otherwise herein expressly provided, the amount of
Bonds transferable by delivery held by any person executing such
request, declaration or other instrument or writing as a Bondholder,
and the numbers thereof, and the date of his holding such Bonds, may
. 0 •
49
be proved by a certificate, which need not be acknowledged or verified,
satisfactory to the City Treasurer executed by a trust company, bank,
investment banker, dealer, broker, or other depositary wherever situ-
ated, showing that at the date therein mentioned such person exhibited
to or had on deposit with such depositary the Bonds described in such
certificate. Continued ownership after the date of deposit stated in
such certificate may be proved by the presentation of such certificate
if the certificate contains a statement by the depositary that the Bonds
therein referred to are in fact held on deposit by such depositary,
and will not be surrendered without the surrender of the certificate
to the depositary, except with the consent of the City Treasurer, and
by a certificate of the City Treasurer, which need not he acknowledged
or verified, that such consent has not been given. The City Treasurer
may nevertheless in its discretion require further or other proof in
eases where it deems the same desirable. The ownership of registered
Bonds and the amount, maturity, number and date of holding the
same shall be. proved by the registry hooks.
Any request, declaration or other instrument or writing of the
owner of any Bond shall bind all future owners of such Bond in
respect of anything done or suffered to be done by the City or any
Paying Agent hereunder in good faith and in accordance therewith.
Sacrmv 10.06. Wainer of Persojwl Liability. No officer, agent
or employee of the City or of any department, hoard, commission, or
agency thereof, shall be individually or personally liable for the pay-
ment of the principal of or interest on the Bonds; but nothing herein
contained shall relieve any such officer. agent or employee from the
performance of any official duty provided by law.
SECTION 10.07. Oflmial Pahlication. Any publication to be made
under the provisions of this Resolution in successive weeks may be
made in each instance upon any business day of the week and need
not be made on the some day of any succeeding week nor in the same
newspaper for any or all of the successive publications, but may be
made in different newspapers.
SECTION 10.08. Partial Inralidity. If any one or more of the
covenants or agreements, or portions thereof, provided in this Resolu-
tion on the part of the City or of any Paying Agent to be performed
should he contrary to law, then such covenant or covenants, such
agreement or agreements, or such portions thereof, shall be null and
void and shall be deemed separable from the remaining covenants
so
and agreements or portions thereof and shall in no way affect the
validity of this Resolution or of the Bonds; but the Bondholders
shall retain all the rights and benefits accorded to them under the
Constitution and laws of the State of California.
SEenoN 10.09. Successors to City. If the powers or duties of
the City shall hereafter be transferred by amendment of the Parking
District Law of 1951, or any provision of the Constitution or any other
law of the State of California, and if such transfer shall relate to any
matter or thing permitted or required to be done under this Resolu-
tion by the City, then the entity that shall succeed to such powers or
duties of the City shall act and be obligated in the place and stead of
the City as in this Resolution provided.
SEcrmx 10.10. Repeal of Inconsistent Resolutions. All other
resolutions of the Council, or parts of resolutions, inconsistent with
this Resolution are hereby repealed to the extent of such inconsistency.
SECTION 10.11. Effective Date of Resolution. This Resolution
shall take effect from and after its passage and approval.
PAesED Axo AnocrsD this 20th day of .lurch, 1961, by the following
vote:
Ayss: Councilmen ftolatb L. Jooea, i0W04>hJPL*i Gerald M.
M' I J. Dom lnith. '-mod a. uat.a
Nm,s: Donald Q. Miller
AESExT: Hone
/a/ Fred M. Waters
............ ........ . ................ I ...
Mayor of the City of San Luis Obispo
ATTEST:
/s/ ..J...H...Fitapatrick __._._
..........................
City Clerk of the City of San Luis Obispo
[Seal of the City of San Luis Obispo]
Presented to and approved by me this _2lsgay of _Mprcli___, 1961.
........ .--------- ................._
Mayor of the City of San Luis Obispo
sl
CLERK'N CERTIFICATE*
J B. FI?2PATBICR ................ City Clerk of the City of San
Luis Obispo, California, do hereby certify that the foregoing is a
full, true and correct copy of a resolution duly adopted by the Council
of said City at a ........... ................ regular meeting of said Council duly
and regularly and legally held at the regular meeting place thereof on
the bgtway of .... OBTO.... ., 1961, of which meeting all of the members of
said Council had due notice and at which a. majority of the members.
thereof were present; that at said meeting said resolution was adopted
by the following vote:
AYES: Councitunen Kenneth W. Jonas, GeraidW. Shipsey, J. Barry
Smith, Fred M. Waters.
NoEa: Donald Q. Miller
ABSENT; Hone
That I have carefully eompRred the same with the original minutes
of said meeting on file and of record in my office and that said resolu-
tion is duly entered of record in the minute book of said Council and
that said resolution is a full, true and correct copy of the original
resolution adopted at said meeting and entered in said minutes. That
said resolution has not been amended, modified or rescinded since
the date of its adoption and the same is now in full force and effect.
Witness my band and the seal of the City of San Luis Obispo this
UPS day of --- ...March......... 1961,
.....<�-,�- ...ram......_......
Ot(tj OlerAofa�l of Sma Luis Obispq
California
[Seal of the City of San Luis Obispo]
CITY OF SAN LUIS OBISPO
PARKING DISTRICT NO. I
RESOLUTION NO, 752-A (1%1 Wslu)
RESOLUTION DETERMINING THAT NO PARKING PLACE
COMMISSION SHALL BE APPOINTED,
WHEREAS, by Resolution adopted on March 6, 1961,
the Council fixed Monday, the 20th day of March, 1961, at
8:00 P.M., in the Council Chambers, in the City Hall, City
of San Luis Obispo, California, as the time and place for
hearing on the question of dispensing with a Parking Place
Commission for Parking District No. 1 of the City of San
Luis Obispo; and
WHEREAS, notice of said hearing was given by
publishing notice thereof once at least ten (10) days before
the day fixed for said hearing in the SAN LUIS OBISPO COUNTY
TELEGRAM -TRIBUNE in the form and as otherwise provided in
said resolution; and
WHEREAS, said hearing was duly held and no persons
appeared to object thereto and the Council having fully
considered the matter;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF
THE CITY OF SAN LUIS OBISPO, as follows:
1. Each and all of the foregoing recitals
are hereby found and determined to be true and correct.
2. The Council hereby determines that no
Parking Place Commission shall be appointed for said Parking
District No. 1 of the City of San Luis Obispo.
1 >`
3. The Council shall have all powers,
jurisdiction and authority granted to and all duties imposed
upon the Commission pursuant to the Parking District Law of
1951 (being Part 4 of Division 18 of the Streets and Highways
Code of the State of California).
20th larch
PASSED AND ADOPTED this day of ,
1961, by the following vote:
Eanasth w. boas, Donald Q. Miller, Gerald Y.
AYES: 9bIyrsj1,IJerlarry Smith, Fred M. Waters.
None
NOES:
Now
ABSENT:
/a/ rred M. Natara
ayor o e City o an Luis spo,
California
ATTEST:
• J. H. Fitzpatrick
City Clerk. City of San Luis Obispo.
California
2
I, J. H. Fitzpatrick, the duly elected,
qualified and acting City Clerk of the City of
San Luis Obispo, do hereby certify that the fore-
going is a full, true and correct copy of Resolution
No. 732-A (1961 Series), passed and adopted by
the Council of the City of San Luis Obispo on the
2fth day of ma" , 1961.
WITNESS cd hand and the seal of the City
,2�»v
of San Luis Obispo this lift day of _Mek ,
1961.
y erc
In The Superior Court of The State of California
In and for the County of San Luis Obispo
AFFIDAVIT OF PUBLICATION
No........... _... _..... _.
ZQ....A&.. attstr..Of..f rklai...i3111L,1ZC.1'r......�ft7 a..1.
STATE OF CALIFORNIA,
Is
County of San Luis Obispo
1 am a citizen of the United Stales and a resident of the
County aforesaid; 1 am over the age of eighteen and not
interested in the above -entitled ._Lia.t6r__._.. _.. _. _.. .
.... __...___.._._..__....._; I am now, and at all times embraced
in the publication herein mentioned was, the principal clerk
of the printers and publishers of the SAN LUIS ORISPO
COUNTY TELEGRAM-TRmUNE, a newspaper of general cir-
culation, printed and published daily, Sundays excepted, at
the City at San Luis Obispo in the above named county and
state; that 'i(1T' .Sr=..Q,P_.L>rl'KaMN_ F OW19.14_...
0 CI.7 or-MI1..LU2&.ARTAFA....M 1SSifl ....
a];%19........_........... ............ __ ..,.......................... ._.._.
of which the annexed clipping is a true printed copy, was
published in the above -named newspaper and not in any
supplement thersal -cm the following dates, to -wit: ..............
that said newspaper was duly and regularly ascertained and
established a newspaper of general circulation by Decree
entered in the Superior Court of San Luis Obispo County,
State of California, on June 9, 1952, under the provisions of
Chapter 1, Division 7, Title 1 of the Government Code of the
Stale of California.
1 certify for declare) under penalty of perjury that the fore-
going is true and correct.
........._......... .... .... Yslire sis P..�_rfu..r.......o..Pr._n_c�Clt...Cerk
l
Date __...._....._ ............. ................... Pabruery 10.._, 19,61
Atteut-
J, rL FITZPATRICK
_ree f 1Ox..
CITY OF SAN LUIS OBISPO
PARKING DISTRICT NO. 1
RESOLUTION NO. laa
(1961 Series)
RESOLUTION OF INTENTION TO ISSUE BONDS UNDER SECTION 35402.1
OF THE CALIFORNIA STREETS AND HIGHWAYS CODE AND PROVIDING FOR
THE GIVING OF NOTICE OF SAID INTENTION.
WHEREAS, the Council of the City of San Luis Obispo,
by Resolution No. 370 (1958 Series), adopted May 19, 1958,
declared its intention to form a Parking District to be known
as "Parking District No. 1 of the City of San Luis Obispo";
and
WHEREAS, said Council, by Ordinance No. 86 (1958
Series), adopted July 7, 1958, declared Parking District No. 1
of the City of San Luis Obispo formed as therein described;
and
WHEREAS, the City of San Luis Obispo has contracted
or obtained options for the purchase of, or has obtained
condemnation judgments covering, that portion of the land,
property and rights -of -way to be acquired in said Parking
District No. 1 as proposed in said Resolution and in said
Ordinance having an assessed value as shown on the last
equalized assessment roll used by said City for purposes of
City taxation of at least 80 percent of t'ae assessed value
of all land, property and rights -of -way to be acquired; and
WHEREAS, the City of San Luis Obispo has determined,
and hereby determines, as an alternate procedure to that
prescribed In Sections 35400 and 35402 of the Streets and
1
Highways Code of the State of California, to issue bonds as
provided in Part 4, Division 18 of said Code under Section
35402.1 of said Code.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF
THE CITY OF SAN LUIS OBISPO, AS FOLLOWS:
1. Each and all of the foregoing recitals are hereby
found and determined to be true and correct.
2. This Council hereby declares its intention, as
an alternate procedure to that prescribed in said Sections
35400 and 35402 of said Code to issue bonds as provided in
said Part 4 of Division 18 of said Code under said Section
35402.1 of said Code, and to give notice of its intention to
do so by publication pursuant to Section 6066 of the Government
Code of the State of California in the newspaper in which said
Resolution of Intention No. 370 (1958 Series) was published,
namely, in the San Luis Obispo County Telegram -Tribune. Said
notice shall specify a time for hearing objections to proceed-
ings under said Section, which shall not be less than twenty
(20) days after the second publication of said notice. The
time and place of said hearing are hereby fixed as provided
In the notice hereinafter set forth. Said notice shall be
substantially in the follow].ng form, to wit:
2
CITY OF SAN LUIS OBISPO
PARKING DISTRICT NO. 1
NOTICE OF INTENTION OF COUNCIL OF CITY OF SAN LUIS
OBISPO TO ISSUE BONDS UNDER SECTION 35402.1 OF
CALIFORNIA STREETS AND HIGHWAYS CODE.
NOTICE IS HEREBY GIVEN of the intention of the Council
of the City of San Luis Obispo to issue bonds as provided in
Part 4 of Division 18 of the Streets and Highways Code of the
State of California under Section 35402.1 of said Code as an
alternate procedure to that prescribed in Sections 35400 and
35402 of said Code.
The Council of said City, by Ordinance No. 86 (1953
Series) adopted July 7, 1953, declared Parking District No. 1
of the City of San Luis Obispo formed as therein described,
and said City has contracted or obtained options for the pur-
chase of, or has obtained condemnation Judgments covering,
that portion of the land, property and rights -of -way to be
acquired in said Parking District No. 1 as proposed in said
Ordinance having an assessed value as shown on the last
equalized assessment roll used by said City for purposes of
City taxation of at least 30 percent of the assessed value
of all land, property and rights -of -way to be acquired.
Monday, March 6, 1961, at 8:00 P.M.,in the Council
Cnambers in the City Hall, City of San Luis Obispo, California,
are the time and place fixed by said Council for hearing
objections to said proceedings under said Section 35402.1 of
said Code. At said hearing the Council of said City shall hear
and pass upon all objections to proceedings under said Section
35402.1 of said Code and shall not issue bonds under said
Section unless following such hearing it shall determine that
3
all of the territory within said Parking District No. 1
will be benefited by the acquisition of that portion of
the land, property and rights -of -way which the City so
has under contract, option or condemnation judgments.
Dated: Fetruary 1, 1961 Council of the City of San Luis
Obispo
Attest:
Ist 1.
ty erc
M
3. The City Clerk is hereby directed to cause said
Notice to be published for and on behalf of the Council as
hereinabove provided.
PASSED AND ADOPTED THIS 1st day of February, 1961
by the following vote:
AYES: Councilmen: Kenneth W. Jones, Gerald W. Shipsey,
Fred M. Waters.
NOES: None
ABSENT: Councilmen: Donald Q. Miller, J. Barry Smith.
ATTEST:
C icy e r
/a/ Fred M wa,^re
Mayor of the City of San Luis Obispo,
California
5
I, J. H. Fitzpatrick, the duly elected,
qualified and acting City Clerk of the CitY of
San Luis Obispo, do hereby certify that the fore-
going is a full, true and correct copy of Resolution
No. 711 (1961 Series), passed and adopted by
the Council of the City of San Luis Obispo on the
iee day of ye,,,z"', 1961.
WITNESS my hand and the seal of the City
of San Luis Obispo this 2nd._ day of
1961.
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...: W .... l. oa.�[N January 31, 1961
Mr, J. A. Fitzpatrick
City Clerk
City of San Luis Obispo
990 Palm Street
San Luis Obispo, California
Re: City of San Luis Obispo - Parking District
No, 1
Dear Mr. Fitzpatrick:
The newspaper proof of notice of
Intention enclosed with your letter of January 27, 1961
appears to be in proper order.
Very truly yours,
'A..:.t
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SANTA ROSA r•���-•�••�_.� T.
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MUNICIPAL OFF-STREET PARKING
SAN LUIS OBISPO, CALIFORNIA