HomeMy WebLinkAboutReso 2922-1959RESOLUTION NO, 2922
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SOUTH
SAN FRANCISCO AMENDING RESOLUTION NO. 2896 ADOPTED
NOVEMBER 16, 1959, ENTITLED "RESOLUTION OF THE CITY
COUNCIL OF THE CITY OF SOUTH SAN FRANCISCO AUTHORIZING
THE ISSUANCE OF BONDS IN PARKING DISTRICT NO. 1 OF THE
CITY OF SOUTH SAN FRANCISCO, IN THE SU~ OF $405,000
PRINCIPAL AMOUNT OF SERIES A BONDS, PROVIDING 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. 1 OF THE
CITY TO SECURE PAYMENT OF THE PRINCIPAL AND INTEREST THEREOF
WHEREAS, the City Council of the City of South San Fran~isco, San Mateo County,
California, heretofore on November 16, 1959, duly adopted the resolution cited in the
title hereof providing for and authorizing the issuance of $405,000 principal amount of
Series A Bonds of Parking District No. 1 of the City of South San Francisco all of which
Series A Bonds have now been sold upon due notice in accordance with law; and
WHEREAS, it is advisable to amend the form of said Series A Bonds and coupons
to conform to the terms and conditions of such sale.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of South San
Francisco, as follows:
Section 1. The first sentence in the bond form set forth in Section 2.03
of said resolution cited in the title hereof is hereby amended by changing the period at
the end thereof to a comma and adding at the end of such sentence the following:
"and also to pay additional interest represented by separate
detachable coupons, payable semi-annually on January 1 and July 1, at
the rate of per cent ( %) per annum, from
January 1, 1960 to July l, 1961, or to the maturity date hereof,
whichever is earlier."
Section 2. The form of coupon set forth in Section 2.03 of said resolution
cited in the title hereof shall be modified to the extent of inserting the letter "A"
immediately preceding the coupon number, except that additional coupons shall be pro-
vided for the period January 1, 1960 to July 1, 1961 (or to the date of maturity of the
Bonds to which the same are attached, whichever date is earlier), as set forth below:
(a) Coupon No. 1 appertaining to all of said Bonds shall be designated
"No. A-i" and shall be in the amount of $3.54 on Bonds Nos. A1 to A145, both inclusive,
maturing in the years 1960 to 1974, both inclusive., represen~ing interest on said Bonds
Nos. A1 to A145, both inclusive, at the rate of 4-1/4% per annum from December 1, 1959,
to January 1, 1960, and in the amount of $3.75 on Bonds Nos. A146 to A405, both inclusive,
maturing in the years 1975 to 1984, both inclusive, representing interest on said Bonds
Nos. A146 to A405, both inclusive, at the rate of 4-1/2% per annum from December 1, 1959
to January 1, 1960.
(b) Coupons Nos. A-2 and following attached to Bonds Nos. A1 to A145, both
inclusive, shall be in the amount of $21.25, pepresenting semi-ahnual interest on said
Bonds Nos. A1 to A145, both inclusive, at the rate of 4-1/4% per annum from January 1,
1960 to the respective maturity dates of said Bonds; and coupons Nos. A-2 and follow-
CITY TO SNCURE PAYMENT OF THE PRINCIPAL AND INTEREST THEREOF
WHEREAS, the City Council of the City of South San FranciSco, San Mateo County,
California, heretofore on November 16, 1959, duly adopted the res~lution cited in the
title hereof providing for and authorizing the issuance of $405,000 principal amount of
Series A Bonds of Parking District No. I of the City of South San Francisco all of which
Series A Bonds have now been sold upon due notice in accordance with law; and
WHEREAS, it is advisable to amend the form of said Series A Bonds and coupons
to confor~ to the terms and conditions of such sale.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of South San
Francisco, as follows:
Section 1. The first sentence in the bond form set forth in Section 2.03
of said resolution cited in the title hereof is hereby amended by changing the period at
the end thereof to a comma and adding at the end of such sentence the following:
"and also to pay additional interest represented by separate
detachable coupons, payable semi-annually on January I and July 1, at
the rate of per cent ( %) per annu~, from
January 1, 1960 to July 1, 1961, or to the maturity date hereof,
whichever is earlier.'
Section 2. The form of coupon set forth in Section 2.03 of said resolution
cited in the title hereof shall be modified to the extent of inserting the letter "A"
immediately preceding the coupon number, except that additional coupons shall be pro-
vided for the period January 1, 1960 to July 1, 1961 (or to the date of maturity of the
Bonds to which the same are attached, whichever date is earlier), as set forth below:
(a) Coupon No. 1 appertaining to all of said Bonds shall be designated
"No. A-i" and shall be in the amount of $3.54 on Bonds Nos. A1 to A145, both inclusive,
maturing in the years 1960 to 1974, both inclusive., represen~ing interest on said Bonds
Nos. A1 to A145, both inclusive, at the rate of 4-1/4% per annum from December 1, 1959,
to January 1, 1960, and in the amount of $3.75 on Bonds Nos. A146 to A405, both inclusive,
maturing in the years 1975 to 1984, both inclusive, representing interest on said Bonds
Nos. A146 to A405, both inclusive, at the rate of 4-1/2% per annum from December 1, 1959
to January 1, 1960.
(b) Coupons Nos. A-2 and following attached to Bonds Nos. A1 to A145, both
inclusive, shall be in the amount of $21.25, pepresenting semi-annual interest on said
Bonds Nos. A1 to A145, both inclusive, at the rate of 4-1/4% per annu~ from January 1,
1960 to the respective maturity dates of said Bonds; and coupons Nos. A-2 and follow-
ing attached to Bonds Nos. A146 to A405, both inclusive, shall be in the amount of
$22.50, representing semi-annual interest on said Bonds Nos. A146 to A405, both inclus-
ive, at the rate of 4-1/2% per annum from January 1, 1960 to the respective maturity
dates of said Bonds.
(c) To Bonds Nos. A1 to A145, both inclusive, shall be attached coupons
designated "Coupon No. B-I" and following, in the amount of $7.50 each, as follows:
Bond Numbers
(Inclusive)
Maturity
Date
B Coupon No.
Maturity of
B Coupons
A1 to A5 July 1, 1960 B-1
July 1, 1960
A6 to A145
July 1, 1961 to
July 1, 1974,
both inclusive
B-1
B-2
B-3
July 1, 1960
Jan. 1, 1961
July 1, 1961
To Bonds Nos. A146 to A405, both inclusive, shall be attached coupons desig-
nated "Coupon No. B-I" and following in the amount of $6.25 each, as follows:
Bond Numbers
(Inclusive)
Maturity
Date
B Coupon No.
Maturity of
B Coupons
A146 to A405
July 1, 1975 to
July 1, 1984
both inclusive
B-1
B-2
B-3
July 1, 1960
January 1, 1961
July 1, 1961
Se'ction 3. In all other respects said resolution cited in the title hereof
is hereby ratified, confirmed and approved.
Section 4.
and approval.
This resolution shall take effect from and after its passage
2
RESOLUTION NO. 2922 (CONTINUED):
PASSED AND ADOPTED this 21st day of December, 1959, by the
following vote:
AYES,
NOES,
Councilmen Andrew Rocca, G. J. Rozzi, Emilio Cortes'i,
Leo J. Ryan and Patrick E. Ahern
None
ABSENT, None
ATTEST:
ANDREW ROCCA
I~AYOR OF THE CITY OF
SOUTH SAN FRANCISCO
.ARTHUR A. RODONDI
City Clerk of the City
of South San Francisco
1959.
Presented to and approved by me this 21st day of December,
ANDREW ROCCA
MAYOR OF THE CITY OF
SOUTH SAN FRANCISCO