HomeMy WebLinkAboutReso 5389-1970 RESOLUTION NO. 5~89
A RESOLUTION DETERMINING UNPAID ASSESSMENTS
AND PROVIDING FOR ISSUANCE OF BONDS
SOUTH MAPLE AVENUE-SOUTH CANAL STREET
RELIEF PUMP_ ANU STORM DRAINAGE
ASSESSMENT DISTRICT
RESOLVED, by the City Council of the City of South
San Francisco, California, th&t
WHEREAS, on April 6, 1970, said Council did pass and adopt
its Resolution of Intention No. 5277, relating to the acquisi-
tion and construction of publ~_c improvements in said City under
and pursuant to the provisions of the Municipal Improvement Act
'of 1913, and did therein provtde that serial bonds would be
issued thereunder pursuant to the provisions of the Improvement
Bond Act of 1915, reference to said Resolution of Intention
hereby being expressly made for further particulars;
WHEREAS, notice of the recordation of the assessment and
of the time within which assessments may be paid in cash has
been duly published and mailed in the manner provided by law,
and the time so provided for receiving the payment of said
assessments in cash has expired, and the City Treasurer has
prepared and filed in his office a list of all assessments
which now remain unpaid; and
WHEREAS, this Council has duly considered said list and
has determined that the same is an accurate statement thereof;
NOW, THEREFORE, IT IS HEREBY ORDERED, as follows:
1. That the assessments in said unpaid list which now
remain unpaid, and the aggregate thereof, are as shown on
Exhibit "A" hereto attached and by reference made a part hereof.
2o That for a particular description of the lots bear-
ing the respective assessment numbers set forth in said unpaid
list and upon which assessment~ remain unpaid, severally and
respectively, reference is her-~by made to the assessment and
to the diagram recorded in the office off-the Superintendent of
Streets of this City after cor.firmation by said Council, the
several lots represented by said assessment numbers being so
numbered and designated upon said diagram and assessment as
so confirmed and recorded, severally and respectively.
B. The unpaid list is in the amount of $51,141.57, and
bonds shall be issued upon the security of said unpaid assess-
ments in said amount in accordance with the provisions of the
ImProvement Bond Act of 1915 (Division l0 of the Streets and
Highways Code) and under and ~ursuant to the provisions of
said Resolution of Intention and the proceedings thereunder
·
duly had and taken; that said bonds shall be fifty-two (52) in
number, shall be dated October 2, 1970, and bear interest from
their date at the rate of not to exceed seven percent (7%) per
annum, and the denomination of said bonds with their respective
numbers and dates of maturity are as shown on Exhibit "B" here-
to attached and made a part hereof by reference.
4o Said bonds shall be issued in series, and the unpaid
assessments as shown on said list filed with the City Treasurer
and determined by said 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 taxable
in annual series corresponding in number t° the number of
series of bonds issued, and ar. annual proportion of each
assessment shall be payable in each year preceding the date of
the maturity for each of the ~everal bonds issued, and such
proportion of each assessment coming due in any year, together
with the annual interest thereon, shall in turn be payable in
installments as the general taxes of said City on real property
are payable, and shall become delinquent at the same time and
in the same proportionate amounts and bear the same propor-
tionate penalties for delinquency.
5. The bonds shall be executed on behalf of the City
and under its official seal by the Clerk and Treasurer, and
the interest coupons attached thereto shall be executed by the
City Treasurer. For such purposes, the Treasurer may use an
engraved, printed or lithographed facsimile of his signature
in lieu of signature by hand. The seal of the City may be af-
fixed to the bonds by printed, lithographed or other reproduc-
tion thereof~ and such signing and sealing of said bonds by said
officers, and 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 coupons thereof respectively.
Said bonds shall be substantially in the form set forth in the
Improvement Bond Act of 1915. Said Treasurer and Clerk of this
City are hereby authorized and directed to sign said bonds.
6. The interest coupons attached to each of said bonds
and evidencing the interest to accrue thereon shall be numbered
consecutively and be substantially in the following form, to wit:
On the 2nd day of
The CITY OF SOUTH SAN FRANCISCO will pay to
bearer hereof at the office of the
Treasurer of said City, in the City of
South San Francisco, County of San Mateo,
California, the sum shown hereon, being
the interest then due on Improvement
Bond, South Maple Avenue-South Canal
Street Relief Pump and Storm Drainage
Project Assessment District, dated
0ctober 2, 1970.
19
Coupon No.
Bond No.
TreasUrer
Series No. 75
?. The City Clerk shall forward to the City Treasurer
and County Controller a certified copy of this resolution.
Assessment
Number
3
6
7
8
9
10
16
17
18
19
20
27
28
29
(pot)
(pot)
(por)
LIST OF
EXHIBIT "A"
UNPAID ASSESSMENTS
SOUTH MAPLE AVENUE-SOUTH CANAL STREET
RELIEF PUMP AND STORM DRAINAGE
ASSESSMENT DISTRICT
Assessor's Amount of
Parcel Number Assessment
014-091-010 $ 3,829.72
014-091-020 5,075.83
o14-o91-o3o 2,537.92
014-091-100 3,740.89
014-091-090 3,502.33
014-091-060 2,537.92
014'091-070 3,408.42
014-092-080 368.00
014-092-040 3,626.68
014-102-030 1,238.50
014-102-040 550.73
014~102-050 1,182.67
014-102-060 2,621.67
014-103-140 1,177.59
014-103-150 1,527.83
014-103-030 1,360.32
014-092-130 6,852.38
014-092-120 3,187.62
014-092-110 2,814.55
$ 51,141.57
Assessed Valuation
Land Improvements
$ 20,600 $ 28,515
27,200 27,800
13,600 13,920
20,200 40,900
18,800 32,900
13,600 -
18,300 31,530
7,500 22,175
26,200 60,405
7,500 7,210
3,900 3,500
7,200 1,625
15,800 24,750
16,000 29,315
9,800 30,430
8,700 13,725
35,300 59,275
17,1oo 28,050
16,400 10,425
$ 303,700 $ 466,450
Series
75
EXHIBIT "B"
Bond Numbers Amount of
( Inclusive)* Principal
i $ 141.57
2 - 4 3,000.00
5 - 7 3,000.00
8 - 10 3,000.00
11 - 13 3,000.00
14 - 16 3,000.00
17 - 20 4,000.00
21 - 24 4,000.00
25 - 28 4,000.00
29 - 32 4,000.00
33 - 36 4,000.00
37 - 40 4,000.00
41 - 44 4,000.00
45 - 48 4,000.00
49 - 52 4,000.00
Date of Maturity
July 2, 1972
July 2, 1973
July 2, 1974
July 2, 1975
July 2, 1976
July 2, 1977
July 2, 1978
July 2, 1979
July 2, 1980
July 2, 1981
July 2, 1982
julY 2, 1983
July 2, 1984
July 2, 1985
July 2, 1986
* All bonds, with the excepzion of Bond No. 1, are in
the denomination of $1,000o
I hereby certify that the foregoing resolution was regularly intro-
duced and adopted hy the City Council of the City of South San Francisco
at a regular meeting held this 8th day of September, 1970, hy the following
vote:
AYES, COUNCILMEN
NOES,
ABSENT, "
Patrick E. Ahern, Frank J. Bertucelli, William A/J
Borha, F. ?rank Mammini, and Warren Steinkamp
None
None
ATTEST
City Clerk