HomeMy WebLinkAboutReso 2849-1959RESOLUTION NO. 2849
A RESOLUTION FIXING AMOUNT TO BE PAID FOR RELEASE OF LOTS 20, 21
AND THE EAST HALF OF 22, BLOCK 10, INDUSTRIAL PARK UNIT NO. 2-C
FROM ASSESSNENT AND PROVIDING FOR CALLING BONDS - INDUSTRIAL PARK
UNIT NO. 2-C, ZONE 1 - SERIES NO. 55
RESOLVED, by the City Council of the City of South San Francisco, California, that
WHEREAS, it is the intention of the Utah Construction Company to cause the assess-
ments on LotS 20, 21 and the East 1/2 of 22, Block 10, South San Francisco Industrial Park
Unit No. 2-C to be paid, and for bonds in the amount thereof to be called; and
WHEREAS, the public economy will be served by fixing the amounts thereof by res-
olution;
NOW, THEREFORE, IT IS ORDERED, as follows:
1. That the amount to be paid for the redemption of said parcels from the assess-
ments levied pursuant to Resolution of Intention No. 2764 adopted by this Council on April 6,
1959, is as follows:
Principal
Lot 20, Parcel 5 $21,900.72
Lot 21, parcel 4 21,900.72
East 1/2 of Lot 22,
Parcel 3 10,198.56
Interest
Premium
Publishing Notice of Call (Pay from Construction
Fund)
TOTAL
$54,000.00
1,471.91
2,700.00
$58,171.91
2. That upon the payment of said sum within sufficient time to publish the Notice
of Call once in the South San Francisco Enterprise prior to November 2, 1959, said sums shall
be ac'cepted in full payment and release of the assessments upon said parcels·
Interest 1st year on 475,000
Less accrued interest paid
Interest 6/4/59 - 7/2/60
7 365 T 28 = 393 days = per day 60.5015267 x 28-+31~317
30 + 31 ~ 30 -~ 31-~ 2 ~ 214 days
$24,941.50
1,164.40
$23,'17'~.10
12,947.33
Parcel Lot Amount
5 --2U $21,900.72
4 21 21,900.72
3 22 10,950.36
Less
54,000 ~ 475,000 = 11.36842105% x 12,947.33 ~ $1,471.91 interest
54,751.80
751.80
54,000.00
Premium 5% of $54,000 =
Interest
Principal
Parcel 3A
10,950.36
- 751.80
$10,198.56
46.4619259%
$ 2,700.00
-1,471.91
54,~00.00
$58,1'il.91
Parcel 3B
10,950.56
+ 751.80
$11,Y02.16
53.538O741%
10,198.56 ~ 21,950.36~ 46.4619259
I hereby certify that the foregoing resolution was regularly introduced and
d p ed ~he C~ty.~nc~l of the Citv of South San Francisco at a regular meeting held this
~r~ ~ay ~ August, x~v~, oy the followtng vote:
RESOLUTION NO. 2849 (CONTINUED):
AYES,
NOES,
ABSENT,
Councilmen Andrew Rocca, G. J. Rozzi, Leo J. Ryan and Patrick E. Ahern
None
Councilman Emilio Cortesi
ATTEST: ARTHUR Ao RODONDI
CITY CLERK