HomeMy WebLinkAboutReso 1746-1952RESOLUTION NO. 1746
AN ORDER PROVIDING FOR THE ISSUANCE OF STREET
IMPROVEMENT BONDS, PRESCRIBING THE DENOMINATIONS
OF SUCH BOEDS AND TLrE INTEREST COUPONS ATTACHED.
RESOLUTION OF INTENTION NO. 1484
WHEREAS the City Council of the Hity of South San Francisco did, on the 16th day of
August, 1949, adopt Resolution of Intention No. 1484 for the street improvement work in said
resolution of intention mentioned and described, under and pursuant to the provisions of the
"Improvement Act of l~ll",and the amendments thereto, reference to said resoluti.on of intention
being expressly made for tlm~ description of said work and of the district in said resolution of
intention described, and for further particulars; and
WHEREAS the Contract for said work of improvement was thereafter awarded to L. C.
~ITH COMPANY, a corporation, and later was completed to the satisfaction of the~Superintendent
of Streets of said city, whereupon a diagram and assessment were made and issued; and
W~EREAS, after the filing of said assessment and notice thereof was given, said
assessment was confirmed by said City Council of the City of South S~n Francisco and a warrant
thereupon was issued, and said assessment and warrant were delivered to the contractor, as
required by said 'act; and
~EREAS said Superintendent of Streets has filed in the office of the city clerk a
list of all assessments unpaid under said assessment, and said city clerk gave notice of the
filing of said list of unpaid assessments and fixed the 8thday of April, l~S1, at the hour
of ~:30 o'clock p.m. as the time when inteested persons might appear before said City Council
and show cause why bonds should not be issued upon the security of the unpaid assessments
shown upon said list; and it appearing from the affidavit of DANIEL J. HYLAND, City Clerk of
said City, which affidavit is now on file in the office os said city clerk, that said notice
was posted as required by law and it also appearing from the affidavit of said DANIEL J. HYLAND
that copies thereof were mailed to the owners of each parcel of land referred to in said list
of unpaid assessments, according to the names and addresses appearing on the last equalized
assessment r~ll of said city, or as known to said city clerkS and it also appearing from the
affidavit of AILEEN BRAM~I~, now on file in the office o£ said city clerk, that said notice
was published as required by law; and
WHEREAS an order was made by the Superior Court of the State of California, in and
for the County of San Mateo, prohibiting the issuance of bonds upon the security of said unpaid
assessments and by the order of said Superior $ourt, said restraining order has been dissolved.
hO~, ~}~q'~E;'~(~~-? ~, it is hereby determined that the ~sessments unpaid and the ~:~{Kregate sum of t~e
sr~me are as follows:
Dis ~ram ,~nd Amount
Assessment N~nnber Unpaid A~sessment
2 <~ 766.08
5 328.78
6 t,~57.68
7 597.79
~ 956.&6
9 2,062.07
ll 2,590.88
12 729.57
14 588.78
16 4~1.58
17 967.16
19 1~$12~91
22 3,297.16
26 3,922.90
32 926.87
33 402.98
34 1,450.75
36 1,345.60
37 447.69
50 263.~3
52 597.79
The total a~regate amount of such stuns unpaid is ~.~?TY*SI~ THOUSAND O?~E HUNDR~ FIFTY~FOUR and
50/1OO DOLLARS (~26,15&.50).
N~, TH]~EFORE, in consideration of the premises, the City Council of the City of South San
Francisco does order ~s follows:
Section !. That bonds be issued upon the security of said unpaid assessments in the amount of
TT~!TY-SIK TI{OUS~?~P Ol'?]~ }{UNDR'iD FIFTY-FOUR and 50/100 DOLLARS ($26,154.50), in accordance with the provisions
of said "Improvement Bond Act of 1915," and the amendments thereto, under and pursuant to the resolutions,
notices, and proceedings adopted and taken by said city council. Said bonds shall be called "Improvement
Bonds" and shall be dated April 6, 1951, and bear interest at the rate of FIVE PERCM'~T (5%) per annum,
co~encing on the 5th day of October, 1950, and shall be thi~y (30) in number and in the following
d enomin~t ions: D~O~.iINATIO~'~S OF D~OMI~ATIOFS OF
INT~EST COUPONS S~-ANNU~, INTerEST
BOIleD DATE OF PdYABLE JAN. 2,,~ 1953 COUPONS
NOS. S~IES D~fOMINATIONS ~TURITY
F-1 .~;~ 1,000.00 July 2, 1953 $ ]_12.08 %~ 25.00
F-1 7&3.63 July 2, 1953 46.23 18.58
F-1 1,O00.O0 July 2, 1954 112.08 25.00
F-1 743.63 July 2, 1954 46.23 18e58
F-1 1,OO0.00 July 2, 1955 112.08 25.00
F-1 743.63 JUly 2, 1955 46.23 18.58
F-1 1,000.00 July 2, 1956 112.O8 25.00
F-t 743.63 July 2, 1956 46.23 !~.58
F-1 1,OOO,OO July 2, 1957 112.08 25.00
F-1 ?43.63 July 2, 1957 46.23 18.58
F-1 1,OOO.O0 July 2, 1958 112.O8 25.00
F-1 ?43.63 July 2, 1958 46.23 18.58
F-1 1,OOO.OO July 2, 1959 112.08 25.00
F-1 ?43.63 July 2, 1959 46.23 1J.58
F-1 1,OOO.O0 July 2, 1960 112.O8 25.00
F-1 ?43.63 July 2, 1960 46.23 18.58
F-1 1,O00.OO July 2, 1961 112.O8 25.00
F-1 743.63 July 2, 1961 46.23 1~.58
F-1 1,O00.00 July 2, 1962 !12.08 25.00
F-1 7~3.63 July 2, 1962 46.23 18.58
F-1 1,OOO.OO July 2, 1963 112.08 25.00
F-1 743.63 July 2, 1963 46.23 lS.58
F-1 1,000.OO July 2, 1964 112.O8 25.00
F-1 7A3.6q July 2. lOgt /,A_?~ ~ :~
~, 1,&50.75
36 1,3d5.60
37 · 447.69
50 263 .O3
52 597.79
The total a~regate amount of such sans unpaid is q~.~?TY*SI;( THOUS(ND O?,!E HUNDR~ FIFTY'~FOUR and
50/100 DOLLAR5 (~26,15&.50).
NO-?, TH]~EFORE, in consideration of the premises, the City Council of the City of South San
Francisco does order as follows:
Section !. That bonds be issued upon the security of said unpaid assessments in the amount of
T~,.~ T~-.~IX TLOJo~,.D Oh~.~ }{UNDR'[fD FI~Y-rOUR and 50/100 DOLLA}~S (~26,15&.50), in accordance with the provisions
of said "Improvement Bond Act of 1915," and the amendments thereto, under and pursuant to the resolutions,
notices, and proceedincs adopted and taken by said city council. Said bonds shall be cilled "Improvement
Bonds" and shall be dated April 6, 1951, and beer interest at t~e rate of FIVE PERC~,~T (5~) per annum~
co~encing on the 5th day of October, 1950, and shall be thi~y (30) i~ number and in the following
d enomina t ions: DPI~O~itNATIONS OF D~.[OMI~i'A riOS'TS OF
INT~EST COUPONS S~I-ANNUAL INTT~EGT
BO~D DATE OF P~%YABLE J~. 2, 1953 COUPONS
NOS. 5~I~ D~{OMINATiONS ~,~IT~ITY
1 F-1 ~,,~ 1,OO0.00 July 2, 1953 $ ].12.O8 S 25.00
2 F-1 7A3.63 July 2, 1953 46.23 18.58
3 F-1 1,OOO.OO July 2, 1954 112.08 25.00
4 F-1 ?43.63 July 2, 1954 ~6.23 18.58
5 F-1 1,OOO.00 July 2, 1955 112.08 25.00
6 F-1 ?43.63 JUly 2, 1955 46.23 18.58
? F-1 1,OOO.OO July 2, 1956 112.08 25.00
8 F-1 743.63 July 2, 1956 46.23 i~.58
9 F-1 1,OOO,OO July 2, 1957 112.O8 25.00
10 F-1 ?43.63 July 2, 1957 46.23 18.58
11 F-1 1,OOO.OO July 2, 1958 112.O8 25.00
12 F-1 743.63 July 2, 1958 46.23 18.58
13 F-1 1,O00.OO July 2, 1959 112.08 25.00
14 F-1 ?43.63 July 2, 1959 46.23 1~.58
15 F-1 1,OOO.00 July 2, 1960 112.O8 25.00
16 F-1 ?~.6~ July 2, 1960 46.23 18.58
17 F-1 1,O00.00 July 2, 1961 112.O8 25.00
18 F-1 ?43.63 July 2, 1961 46.23 1~.58
19 F-1 1,000.OO July 2, 1962 112.08 25.00
20 F-1 ?43.63 July 2, 1962 ~6.23 18.58
21 F-1 1,OOO.OO July 2, 1963 112.08 25.00
22 F-1 ?43.63 July 2, 1963 46.23 1~.58
23 F-1 1,O00.OO July 2, 1964 112.O8 25.00
24 F-1 ?43.63 July 2, 1964 ~6.23 18.58
25 F-1 1,OOO.OO July 2, 1965 ].12.O8 25.00
26 F-1 ?43.63 July 2, 1965 46.23 18.58
2? F-1 1,OOO.00 July 2, 1966 112.O8 25.00
28 F-1 ?43.63 July 2, 1966 46.23 1~.58
29 F-1 1,OOO.00 July 2, 1967 112.O8 25.00
30 F-1 ?43.63 July 2, 1967 46.23 1~.58
Section 2. Said bonds will be issued in a~ual series and the unpaid assessments, as determined by
said City Council,together with the interest thereon shall remain and constitute a trust fund for the re-
demption and payment of said bonds, and for the interest which may be due thereon, which unpaid assessments
shall be payable in annual series corresponding in number to the number series of the bonds issued. An even
annual proportion of each assessment shall be payable in each year preceding the date of maturity of e~ch of
the several series of bonds, and such prooortion of each assessment coning due in any year, together with the
annual interest thereon, shall in turn be payable in insatallments Zhe same as the general municipal taxes of
said City of South San Francisco on real property are payable, and shall become delinquent at the same time
and in the proportionate amounts, and bear the same proportionate penalties for delinquency. Said bonds shall
be si~ed by the Treasurer of the City of South San F~ancisco and counter-sicned by the clerk, who shall affix
the official seal of said city thereto; the interest coupons affixed thereto shall bear the engraved or
printed or litho~raphed signature of the Treasurer in place of his signature. Said bonds shall be sub-
stantia]ly in the form set forth in said "Improvement Bond Act of 1915", as amended.
The interest coupons attached to each of said bonds and evidencing the !nterest to accrue thereon
stall be numbered con'secutively and shall be substantially in the following form to-wit:
Coupon No. S
The City of South ~an Francisco, California, will pay to the bearer hereof,
on the 2n~ day of , 19..., ~ , at the office of the
City Treasurer, said sum being the semi-annual interest due on Improvement Bond No.
Series No. .
City Treasurer.
/20
Section 3. Said City Clerk shall forthwith deliver said bonds to Hannaford & Talbot, the assignee
of I.. C. Smith Company, in satisfaction of the amount due upon said assessments.
I hereby certify that the foregoing resolution was regularly introduced and adopted by the City
Council of the City of South S~n Francisco this 3rd day of M~rch, 1952, by the following vote:
Ayes, Councilmen Victor Boido, C[~arles K. Elder, Adolph Sani, Joseph Bracco, Emilio Cortesi.
Noes, Councilmen, ~one
Absent, Councilmen, ~Jone
Attest: Daniel J ~{yland
City Clerk