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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.