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California, the Parking District Law of 1951, Ordinance No. 785 Relating to Proceedinss Heretofore or Hereafter Taken Pursuant to the Parking District Law of 1951, adopted January 17, 1955, by the City Council, the Home Rule Charter of said City and Resolution No. Providing for Issu- ance of Bonds, Providing for the Pledge of Parking Revenues and Covenants for the Protection of the Bonds, and Directing Levy of Annual Ad Valorem Assessments to Pay the Principal and Interest Thereof, Parking District No. 1, adopted by the City Council of the City of Redwood City on the day of July, 1955, the City of Redwood City, a municipal corporation, State of California, for value received,will pay to bearer out of the fund hereinafter designated, on the 1st day of July, l9 , the sum of ONE THOUSAND DOLLARS ($1,000.00) in lawful money of the United States, with interest thereon from date, as evidenced by interest coupons attached to this bond at the time of its issuance. Said interest is payable semi- annually on the 1st day of January and the lst day of July of each year, all as more particularly set forth in the resolution providing for the issuance of this bond. Both principal and interest are payable at the office of the City Treasurer of the City of Redwood City, California, in any coin or currency which on the date of payment is legal tender for public and private debts, upon presentation and surrender of this bond or the interest coupons as they severally become due. If upon presentation at maturity, payment of this bond is not made as herein provided, interest hereon shall continue at the same rate until the principal hereof is paid in full. The holder of this bond has all of the rights of a holder of a negotiable instrument payable to bearer. The bonds and the interest thereon are not a general obligation of the City of Redwood City. Bonds maturing on July 1 in the year 1985, are subject to call and redemption, as a whole or irl part, on July 1, 1957, or on any interest date thereafter, in inverse numeri- cal order. Bonds maturing on July 1 in the year 1934, are subject to call and redemption, as a whole or in part, on July 1, 1966, or on any interest date thereafter, in inverse numeri- cal order. Bonds maturing on July 1 in the year 1983, are subject to call and redemption, as a whole or in part, on July 1, 1971, or on any interest date thereafter, in inverse numeri- cal order. -6-