HomeMy WebLinkAboutReso 5469-1970 RESOLUTION NO. 5469
A RESOLUTION DETERMINING UNPAID ASSESSMENTS
AND PROVIDING FOR ISSUANCE OF BONDS
TANFORAN AVENUE-SHAW ROAD STORM DRAINAGE PROJECT
ASSESSMENT DISTRICT
RESOLVED, by the City Council of the City of South
San Francisco, California, ohat
WHEREAS, on January 5, 1970, said Council did pass and
adopt its Resolution of Intention No. 522?, relating to the
acquisition and construction of public improvements in said
City under and pursuant to ~he provisions of the Municipal
Improvement Act of 1913, and did therein provide that serial
bonds would be issued thereunder pursuant to the provisions
of the Improvement Bond Act of 1915, reference to said Reso-
lution 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 assess-
-~ ·
ments which now remain unpa_d, 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.
2. That for a partic'Alar description of the~ lots bear-
ing the respective assessment numbers set forth in said unpaid
list and upon which assessments remain unpaid, severally and
respectively, reference is herebY made to the assessment and
to the diagram recorded in t?.e office of the Superintendent
of Streets after confirmatior, by said Council, the several
lots represented by said assessment numbers being so numbered
and designated upon said diagram and assessment as so con-
firmed and recorded, severally and respectively.
3. The unpaid list is in the amount of $33,583.50, and
bonds shall be issued upon tk.e 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 pursuant to the provisions of
said Resolution of Intention and the proceedings thereunder
duly had and taken; that said bonds shall be thirty-four (34)
in number, shall be dated Jar~uary 2, 1971, and bear interest
from their date at the rate of not to exceed seven percent
(7%) per annum, and the denonination 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 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 to the number of
series of bonds issued, and an annual proportion of each
assessment shall be payable in each year preceding the date of
the maturity for each of the several bonds issued, and such
proportion of each assessmenz coming due in any year, together
with the annual interest thereon, shall in turn be payable in
installments as the general zaxes 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 in lieu of sig-
nature by hand. The seal of the City may be affixed to the
bonds by printed, lithographed or other reproduction thereof;
and such signing and sealing of said bonds by said officers,
and signing of said coupons by said Treasurer, shall consti-
tute 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 19
the Treasurer of said City, in the
City of South San Francisco, County of
San Nateo, California, the sum shown
hereon, being the interest then due on
Improvement Bond, Tanforan Avenue-Shaw Coupon No.
Road Storm Drainage Project Assessment
District, dated January 2, 19?l. Bond No.
Treasurer Series No. 76
7. The City Clerk shall forward to the City Treasurer
and County Controller a certified copy of this resolution.
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 21st ~ay of December, 1970, by the following
vote:
AYES, COUNCILMEN Patrick E. Ahern, Frank J. Bertucelli, William A.
NOES, "
ABSENT, "
Borba, F. Frank Mammini and Warren Steinkamp
None
None
T~I I I ' ! r~ I
EXHIBIT "A"
LIST OF UNPAID ASSESSMENTS
TANFORAN AVENJE-SHAW ROAD
STORM DRAIN,GE PROJECT
ASSESSMENT DISTRICT
Assessment
Number
Assessor's
Parcel Number
014-250-070
Amount of
Assessment
$ 7,922.10
Assessed Valuation
Land Imp r ovemen ts
$120,200 $ 614,310
014-242-010 3~ 557.18 37,400 84,575
015-115-070 5~ 141.60 54,100 10,515
015-163 - 100 10, 500.67 i I 1,100 146,485
l0
015-162-010 1,553.35 16,300 34,995
'-- 12
015-164-010 3,852.32 44,000 75,040
15
015-164-030 1,056.28 16,200 31,440
$ 33,583.50
$ 399,300 $ 997,360
$1,396,660
EXHIBIT "B"
Series
76
Bond Numbers Amount of
(Inclusive)* Principal
1 $ 583.5o
2 1,000.00
3 - 5 3,000.00
6 - 8 3,ooo.oo
9 - 11 3,000.00
12 - 14 3,000.00
15 - 18 4,000.00
19 - 22 4,000.00
23 - 26 4,000.00
27 - 30 4,000.00
31 - 34 4,000.00
Date of Maturity
July 2, 1972
July 2, 1972
July 2, 197B
July 2, 1974·
Jul~ 2, 1975
July 2, 1976
July 2, 1977
July 2, 1978
July 2, 1979
July 2, 1980
July 2, 1981
* All bonds, with the exception of Bond No. 1,
are in the denomination cf $1,000.00.