HomeMy WebLinkAboutReso 5570-1971 RESOLUTION NO o 5570
A RESOLUTION DETERMINING UNPAID ASSESSMENTS
AND PROVIDING FOR ISSUANCE OF BONDS
EL CAMINO REAL SIDEWALK PROJECT
(Arroyo to Chestnut)
ASSESSMENT DISTRICT
RESOLVED, by the City Council of the City of South
San Francisco, California, that
WHEREAS, on March l, 19?l, said Council did pass and
adopt its Resolution of Intention No. 5502, relating to the
construction of public improvements in said City under and
pursuant to the 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 Improve-
ment 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 assess-
ments 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:
lo 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 particular 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 the office of the Superintendent
of Streets after confirmation 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 $10,442.11, 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 pursuant to the provisions of
said Resolution of Intention and the proceedings thereunder
duly had and taken; that said bonds shall be eleven (ll) in
number, shall be dated July 2, 19?l, 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 respec-
tive 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 assess-
ment shall be payable in each year preceding the date of the
maturity for each of the several bonds issued, and such 'propor-
tion 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
2
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 signa-
ture 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 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 19
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, E1 Camino Real Sidewalk Project Coupon No.
(Arroyo to Chestnut) Assessment District,
dated July 2, 1971. Bond No.
Treasure r
Series No. 77
?. 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 7th day of June, 1971, by the following
vote:
AYES, COUNCILMEN
NOES,
ABSENT,
Patrick E. Ahern, Frank J. Bertucelli,
William A. Borba and F. Frank Mammini
" None
Warren Stei nkamp
ATTEST:~ ~ '
EXHIBIT "A"
LIST OF UNPAID ASSESSMENTS
CITY OF SOUTH SAN FRANCISCO
EL CAMINO REAL SIDEWALK PROJECT
(Arroyo to Chestnut)
ASSESSMENT DISTRICT
As se s sment
Number
1
3
5
Assessor's
Parcel Number
011-326-020
011-325-030
OlO-40o-o4o
OlO-400-1BO
010-400-120
Amount of
AsseSsment
1,37o.22
927.93
897.92
4,686.52
2,559.52
$ 10,442.11
EXHIBIT "B"
Series
77
Bond Numbers*
1
2
5
6
8
9
10- 11
Amount of
Principal
$ ~.~
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000'.00
1,000.00
1,000.00
2,000.00
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
* all bonds in the denomination of
$1,000.00, with the exception
of Bond No. 1.