HomeMy WebLinkAboutReso 5391-1970 RESOLUTION NO. 539!
A RESOLUTION DETERMINING UNPAID ASSESSMENTS
AND PROVIDI~ FOR ISSUANCE,OF BONDS
IMPROVEMENT OF 12 MILE CREEK
ASSESSMENT DISTRICT
RESOLVED, by the City Ccuncil of the City of South
San Francisco, California, that
WHEREAS, on May 4, 1970, said Council did pass and adopt
its Resolution of Intention No. 5293, relating to the acquisi-
tion and construction of public improvements in said City under
and pursuant to the provisior~s of the Municipal Improvement Act
of 1913, and did therein provide that serial bonds would be
issued thereunder pursuant tc 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 pr'°vided 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 assessmer.ts remain unpaid, severally and
respectively, reference is hereby made to the assessment and
to the diagram recorded in the office of the Superintendent of
Streets of this City after confirmation by said Council, the
several lots rep.resented 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 $105,41B.15, and
bonds shall be issued upon the security of sa~d 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 pf~rsuant to the provisions of
said Resolution of Intention and the proceedings thereunder
duly had and taken; that said bonds shall be one hundred six
(106) in number, shall be dated October 2, 1970, and bear inter-
..
est 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" hereto attached and made a part hereof by reference.
4. Said bonds shall be issued in series, and the unpaid
assessments as shown on said llst filed with the City Treasurer
and determined by said Council, together with the interest
thereon, shall remain and consoitute 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 tom the number of
series of bonds issued, and an annual proportion of each assess-
ment shall be payable in each year preceding the date of the
maturity for each of the several bonds issued, and such pro-
portion 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 &nd 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 purpose, 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
affixed to the bonds by printed, lithographed or other repro-
duction 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 respec-
tively.. 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 coupon~ attached to each of said bonds
and evidenc~ing the i~terest 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, Improvement of 12 Mile Creek
Assessment District, dated October 2,
1970.
Treasurer
19
Coupon No.
--,
Bond No.
,
Series No. 74
7o The City Clerk shall forward to the City Treasurer
and County Controller a certified copy of this resolution.
EXHIBIT 'A"
LIST OF UNPAID ASSESSMENTS
IMPROVEMENT OF 12 MILE CREEK
ASSESSMENT DISTRICT
Assessment
Numbs r
Assessor' 8
Parcel Number
Amount of
As see 8ment
· _
Assessed Valuation
~anc] ..... .~[ ~rovements..~ ~. ~ .~.
(por)013-250-090 $ 26,272.83 $ 173,350 $ 307,975
010-400-140 8,426,;02 8,250
010-400-050 7,489.80 10,600 20,970
010-400-060 LO, 357.00 1,850
014-300-020
014-300-0501
32,178.93
1,175 --
1,950 2,000
10
014-300-010 20,688.57 lO1,500
$ lO5,413.15
?..
$ 298,675 $: 330,945
4
EXHIBIT "B"
Series
74
Bond Numbers Amount of
(Inclusive')* Principal
I $ 413.15
2 - 6 5,000.00
7 - 11 5,000.00
12 - 16 5,000.00
17 - 21 5,000.00
22 - 26 5,000.00
27 - 31 5,000.00
32 - 36 5,000.00
37 - 46 10,000.00
47 - 56 10,000.00
57 - 66 10,000.00
67 - 76 lO,000.00
77 - 86 10,000.00
87 - 96 10,000o00
97 - 106 10,000o00
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 exception of Bond No. l,
the denomination of $1,0C0.
are in
5
I hereby certify that the foregoing resolution was regularly intro-
duced and adopted by the City Council of the City of South San Francisco
at a regular meeting held this 8th d~y of September, 1970, by the following
vote:
AYES, COUNCI LN~N
NOES,
ABSENT, "
Patrick E. Ahern, Frank J. Bertucelli, William A.
Borba, F. Frark Mammini and Warren Steinkamp
None
None
City C~'~rk