HomeMy WebLinkAboutReso 1946-1953RESOLUTION NO. 1946
RESOLUTION OF THE CITY COUNCIL OF TNE
CITY OF SOUTH SAN FRANCISCO PROVIDING
FOR THE ISSUANCE OF IMPROVEMENT BONDS
FOR THE IMPROVEMENT OF THIRD LANE.
RESOLVED by the City Council of the City of South San Francisco, that
WHEREAS the City Council of said City did on the 10th day of July, 1952,
pass and adopt its Resolution of Intention No. 1785, relating to certain work
proposed to be done and improv6ments to be made in said City, as therein
described, under and pursuant to the provisions of that certain Act of the
Legislature of the State of California designated as t he "Improvement Act of
1911", as amended, and did therein provide that serial bonds would be issued
thereunder in the manner provided by the "Improvement Bond Act of 1915",
as amended, reference to said Resolution of Intention being hereby expressly
made for further particulars; and
WHEREAS the contract for said work and improvement was duly awarded and
thereafter duly completed to the satisfaction of the Superintendent of Streets
of said City and this Council, wherupon an assessment, warrant and diagram
were made, recorded and delivered to the Contractor in the time, form and
manner as required by said Act, and the Contractor having made due return thereon
and the same having been duly filed; and
WHEREAS on February 19, 1953, the Superintendent of Streets of said City
made and filed with the Clerk of this Council a complete li~t of all assessments
unpaid thereunder and upon the respective assessment or diagram numbers thereon,
thereupon said Clerk gave notice of the filing of said list, and fixed in said
notice Tuesday, the 8th day of September, 1953, at the hour of eight o'clock p.m.
as the time when interested persons might aopear .~before the City Council at the
regular meeting place of said City Council in the City Hall and show cause why bonds
should not be issued upon the security of the unpaid assessments shown on said
list~ all of which appears from affidavits on file &n the office o£ said Clerk;
WHEREAS, one protest or objection against the issuance of bonds as fore-
said having been presented before or at the time of said hearing and said pro-
test having been overruled
NOW, THEREFORE, IT IS HEREBY FOUND, DETERb~INED, AND ORDERED as follows:
1. That said list of assessments unpaid filed by said Street Superintendent,
as aforesaid, was, at the time of filing thereof, in all respects complete and
correct, and also that the unpaid assessments in the proceedings duly had and
taken under and pursuant to said Resolution of Intention No. 1~85, and the aggregate
amount of the same, are as follows-
Assessment Number
Amount
$235.18
235.18
235.18
26~+. 57
235.18
235.18
v66
Assessment Number
Amount
13 $ ~7.o~
18 47.
22 587.
25 29.3.9?
2. That the total or aggregate amount of said assessments unpaid is the
sum of $2,~15.~6.
3. That bonds shall be issued upon the security of said unpaid assessments
in the said amount of $2,~16.46 in accordance with the provisions of said Improve-
ment Bond Act of 1915, and under and pursuant to the provisions of said Resolution
of Intention No. 1785 and the proceedings thereunder duly had and taken; that said
bonds shall be fifteen (15) in number, shall be dated November 2, 1953 and bear
interest at the rate of five (5%) per cent per annum from January 18, 1953, and
the denominations of said bonds and the interest coupons required to be attached
thereto, with the respective numbers and d~tes of maturity, are as follows:
Series No.
Bond No.
Denomination
Date of Maturity
L-1 1 $161.O9 7-2-55
L-1 2 161.09 7-2-56
L-1 3 161.09 7-2-57
L-1 ~ 161. BO 7-2- 58
L-1 5 161 .~0 7-2-59
L-1 6 161.~0 7-2-60
L-1 7 161.10 7-2-61
L-1 8 161.10 7-2-62
L-1 9 ~61.10 7-2-63
L-1 10 161.10 7-2-64
L-1 ll 161.10 7-2-65
L-1 12 161.10 7-2-66
L-1 13 161.10 7-2-67
L-1 lg 161.10 7-2-68
L-1 15 161.10 7-2-69
With reference to said bonds, the first coupon attached to said bonds
shall have a ,demonination of $15.78. and the subsequent coupons attached to said
bonds shall have a denomination of $4.03.
The first coupon above referred to shall represent interest upon the
principal of the respective bonds to which the same are respectively attached
coming due January 2, 1955, and the subsequent coupons above referred to shall
represent the interest coming due on the principal of the respective bonds to
which the same are respectively attached for'the several semi-annual periods
subsequent to said date.
5. Said bonds shall be issued in series, and the unpaid assessments as
shown on the list filed by the superintendent of streets and determined by thesaid
City Council, together with the interest thereon, shall remain and constitute
a trust fund for the redemption and payment of said bonds and of the interest
which may be due thereon, which unpaid assessments shall be payable in annual
series corresponding in number to the number of series of bonds issued, and an
even annual proportion of each assessment shall be payable in each year preceding
the date of the maturity for each of the several series of bonds issued, and such
proportion of each assessment coming due in any year, together with the annual
interest thereon, shall in turn be oayable in installments as the general muni-
cipal taxes of said City on real property are payable, and shall become del-
inquent at the same times and in the same proportionate amounts and bear the
same proportionate penalties for delinquency.
6. Said bonds shall be signed by the Treasurer of said City and counter-
signed by the Clerk who shall affix thereto the officA~l seal of said city; the
interest coupons affixed thereto shall be signed by the Treasurer or bear his
engnaved, printed or lithograohed signature; and such signing of said coupons
by said Treasurer shall constitute and be a sufficient and biading execution of
each and every one of said bonds and all of the couoons thereo~ resoectixely.
Said bonds shall be substantially in the form set forth in said Improvement
Bond Act of 1915; said Treasurer and said Clerk are hereby authorized and ~r~t-
thereto, with the respective numbers and d~tes of maturity, are as follows:
Series No.
Bond No.
Denomination
Date of Maturity
L-1 1 $161.09 7-2-55
L-1 2 161.09 7-2-56
L-1 3 161.09 7-2-57
L-1 4 161.DQ 7-2-58
L-1 5 161.DO 7-2-59
L-1 6 161.D0 7-2-60 '
L-1 7 161.10 7-2-61
L-1 8 161.10 7-2-62
L-1 9 ~61.10 7-2-63
L-1 10 161.10 7-2-64
L-1 ll 161.10 7-2-65
L-1 12 161.10 7-2-66
L-1 13 161.10 7-2-67
L-1 14 161.10 7-2-68
L-1 15 161.10 7-2-69
With reference to said bonds, the first coupon attached to said bonds
shall have a .demonination of $15.78~ and the subsequent coupons attached to said
bonds shall have a denomination of $4.03.
The first coupon above referred to shall represent interest upon the
principal of the respective bonds to which the same are respectively attached
coming due January 2, 1955, and the subsequent coupons above referred to shall
represent the interest coming due on the principal of the respective bonds to
which the same are respectively attached for~the several semi-annual periods
subsequent to said date.
5. Said bonds shall be issued in series, and the unpaid assessments as
shown on the list filed by the superintendent of streets and determined by thesaid
City Council, together with the interest thereon, shall remain and constitute
a trust fund for the redemption and payment of said bonds and of the interest
which may be due thereon, which unpaid assessments shall be payable in annual
series corresponding in number to the number of series of bonds issued, and an
even annual proportion of each assessment shall be payable in each year preceding
the date of the maturity for each of the several series of bonds issued, and such
oroportion of each assessment coming due in any year, together with the annual
interest thereon, shall in turn be payable in installments as the general muni-
cipal taxes of said City on real property are payable, and shall become del-
inquent at the same times and in the same proportionate amounts and bear the
same proportionate penalties for delinquency.
6. Said bonds shall be signed by the Treasurer of said City and counter-
signed by the Clerk who shall ~ffix thereto the official seal of said city; the
interest coupons affixed thereto shall be signed by the Treasurer or bear his
engnaved, printed or lithograohed signature; and such signing of said coupons
by said Treasurer shall constitute and be a sufficient and binding execution of
each and every one of said bonds and all of the cou~ons thereof resoectixely.
Said bonds shall be substantially in the form set forth in said Improvement
Bond Act of 1915; said Treasurer and said Clerk are hereby authorized and direct-
ed to so sign smd countersign, respectively.
7. That the interest coupons attached to each of said bonds and evidencing
the interest to accrue thereon shall be numbered consecutively and be substantial-
ly in the following form, to-wit:
Coupon No. $
The City of South San Francisco, California,
will pay to the bearer hereof on the 2nd day
of ,19 ,
Dollars ($ )
at the office of the City Treasurer; said sum
being the semi-annual interest due on
Improvement Bond No. of Series No.
L-1.
DATED:
City Treasurer of the City of
South San Francisco
8. That said bonds shall forthwith be delivered to the Stone & Young-
her, Assigness of James A. Hardenburg, dba B & D Truck Service in satisfaction
of the balance due upon the assessment and warrant.
9. The-City Clerk shall forward a certified cody of this resolution to
the City Auditor and City Treasurer.
I hereby certify that the foregoing resolution was duly and regularly
introduced and passed at a regular meeting of the City Council of the City
of South San Francisco held on the 2nd day of November, 195~, by the following vote:
to-wit:
Ayes, Councilmen John Noonan, Adolph Sani, Emilio Cortesi, Joseph Bracco,
Telford Smith.
Noes, Councilmmn Nonce
Absent, ~ouncilmen None
Arthur A. Rodondi
City Clerk