HomeMy WebLinkAboutReso 5713-1971 RESOLUTION NO. 57~ 3
A RESOLUTION DETERMINING UNPAID ASSESSMENTS
AND PROVIDING FOR ISSUANCE OF BONDS
CABOT, CABOT & FORBES INDUSTRIAL PARK
UNIT NO. 3 ASSESSMENT DISTRICT
RESOLVED, by the City Council of the City of South
San Francisco, California, that
WHEREAS, this Council did, on the 7th day of September,
1971, pass and adopt its Resolution of Intention Nol 5648,
relating to the acquisition and construction of public
improvements in said City under and pursuant to the provi-
sions 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 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 payment of
assessments in cash has expired, and the City Treasurer has
filed in his office a list of all assessments which now re-
main unpaid; and
WHEREAS, the 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 now remaining unpaid and the
aggregate thereof are as shown on said list and on Exhibit "A"
hereto attached and by reference made a part hereof.
2. That for a particular description of the lots or
parcels· of~ land bearing the respective assessment numbers set
forth in~ said 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 of this City after confirmation by
this Council, the several lots or parcels of land represented
by said assessment numbers being so numbered and designated
upon said diagram and assessment-as so confirmed and recorded,
severally and respectively.
3. The unpaid list is in the amount of $1,010,424.00,
and bonds shall be issued upon the security of. said unpaid
assessments in said amount in accordance with the provisions
of said Improvement Bond Act of 1915~ (Division 10 of the
Streets and Highways Code) and under and pursuant to the pro-
visions of said Resolution of Intention and the proceedings
thereunder duly had and taken. Said bonds shall be dated
November 22, 1971, be designated Series 78,~ be payable at
the office of the City Treasurer, and bear interest from
their date to their respective dates of maturity at the rate
of not to exceed seven percent (7%) per annum, represented
,
by coupons payable on January 2 and July 2 in each year, com-
mencing on January 2, 1973, and the denomination of said bonds
and 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 and determined by this
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
2
each of the several bonds issued, and such proportion of each
assessment coming due in any year, together with the annual
interest thereon, shall be payable in installments as the
general taxes of the City on real property are payable, and
shall become delinqUent at the same time and in the same pro-
portionate amounts and bear the same proportionate penalties
for delinquency.
5. The bonds shall be executed on behalf-of the City
and under its official seal by the Treasurer and Clerk, and
the coupons attached to the bonds shall be eXecuted by the
Treasurer. The signature of the Treasurer may be reproduced
on the bonds and coupons by engraved, printed or lithographed
facsimile thereof, and the official seal may be placed on the
bonds in like manner; and such signing and sealing shall con-
stitute 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
said Improvement Bond Act of 1915, except for such changes
as are necessary to conform to the provisions, of this resolution.
6. Any bond may be registered either as to principal
and interest or as to principal only, upon written request of
..
the bondholder and presentation of the bond to the Treasurer
for registration.
' a) Principal and Interest. Upon presentation
and ~request for registration as to principal and interest, the
coupons shall be removed and canceled, or preserved in a place
of safekeeping, at the option of the Treasurer, and the numbers
of all registered bonds and the names and addresses of the
owners thereof shall be entered in the registration book main-
tained by the Treasurer, and a notation shall be made therein
and on the bond that registration is as to principal and inter-
est. Until such registration is canceled as herein provided,
B
the interest shall be payable only to the registered owner,
and the principal shall be payable only to such owner upon
presentation of the bond.
b) Principal Only. When bonds are registered as
to principal only, a notation shall be made to that effect in
the registration book and on the bond. The coupons shall not
be removed and the interest on such bonds shall be paid upon
presentation of such coupons in the same manner as unregis-
tered bonds. Principal, however, shall be paid. only to the
registered owner upon presentation of such bond.
c) Deregistration. The registration of any un-
matured bond may be canceled upon written request of the
registered owner. Upon receipt of such request. and the bond,
the Treasurer shall cancel the registration in the bond
registry book and on the back of the bond, cause all unmatured
coupons to be reprinted, if necessary, and reattached to the
bond, and deliver the bond and attached coupons to the owner.
Until such bond is reregistered, the principal thereof shall
be payable to bearer, and the interest shall again be paid
upon surrender of proper coupons.
d) Reregistration. Deregistered bonds may be
reregistered in the same manner as previously unregistered
bonds.
e) The person requesting~ registration, deregistra-
tion or reregistration shall pay any fee charged by the
Treasurer for such service, including any cost of reprinting
the coupons.
f) There shall be provided on the back of each
bond a suitable statement to be signed by the Treasurer indi-
cating the date of registration, the type of registration, the
name of the registered owner, and the date of any cancellation
thereof, in form substantially as follows:
4
This bond is registered in the name of the registered
owner last entered below, and both the principal of
and interest on this bond are' payable to such owner,
unless registered as to principal only, in which event
only the principal is so payable.
Note: There must be no writing below except by
the Treasurer.
REGISTRATION
Date of ' Type of ~Registered Signature of
Registry Registration~ Owner Treasurer
Principal only
and Interest
Principal only
and Interest
Principal only
and Interest
Principal only
and Interest
CANCELLATION
Date of Signature of
Cancellation Treasurer
* In the event registration is as to principal only, strike the words
"and Interest"; if as to principal and interest, strike the word
"on ly".
7. The coupons shall be numbered consecutively and be
substantially in the following form, to wit:
On the Second day Of
CITY OF SOUTH SAN FRANCISCO will pay to
bearer (unless the bond is redeemed prior
thereto) the' sum hereon at the office of
its Treasurer, City Hall, South San Francisco,
California, as interest on Improvement Bond,
dated November 22, 1971, CABOT, CABOT ~
FORBES INDUSTRIAL PARK UNIT NO. 3 ASSESSMENT
DISTRICT
19
.Coupon No.
No.
Treasurer
SERIES 78
8. The Clerk shall forward certified copies of this reso-
lution to the City Treasurer and County Controller.
I hereby certify that the fore.~lo~fng resolution was regularly
introduced and adopted by the City Council of the City of South San
Francisco at a regular meeting held this 15th day of November, 1971,
by the following vote:
AYES, COUNCILMEN
I!
NOES,
ABSENT, "
Patrick E. Ahern, Frank J. Bertucelli, William A.
Borba, F. Frank Mammlni and Warren Steinkamp
None
None
EXHIBIT "A"
Assessment
Number
3
4
5
6
7
8
9
ll
12
13
16
LIST OF UNPAID ASSESSMENTS
CABOT, CABOT & FORBES INDUSTRIAL PARK
UNIT NO. 3 ASSESSMENT DISTRICT
Lot or
Parcel Block Subdivision
1 1 Cabot,Cabot & $
Forbes Industrial
2 1 Park Unit No. 3
3 I "
4 i
5 1
1 2
2 2
3 2
5 2
7 2
C 2 "
Amount of
Assessment
51,904.27
126,725.87
56,772.59
79,458.83
106,569.52
123,878.08
95,193.46
38,791.49
39,103.61
37,696.80
96,326.65
77,850°85
73,805.51
6,346.47
TOTAL UNPAID ASSESSMENTS $ 1,010,424.00
EXHIBIT "B"
SERIES 78 IMPROVEMENT BONDS
,
Denominations and Bond Numbers
$424
$1,000 $5,000
2
3- 5
6- 8
9 - 12
13 - 16
17 - 20
21 - 25 26 - 29
30 - 34 35 - 38
39 - 43 44 - 47
48 - 52 53 - 57
58 - 62 63 - 67
68 - 72 73 - 78
79 - 83 84 - 89
90 - 94 95 - 101
102 - 106 107 - 113
114 - 118 119 - 126
127 - 131 132 - 139
140 - 144 145 - 153
154 - 158 159 - 168
169 - 173 174 - 184
185 - 189 190 - 201
202 - 206 207 - 219
220 - 224 225 - 238
239 - 243 244 - 258
259 - 263 264 - 279
Principal
Amount
5,424
15,000
15,000
20,000
20,000
20,000
25,000
25,000
25,000
30,000
30,000
35,000
35,000
o,ooo
40,000
45,000
45,000
50,000
55,000
60,000
65,000
70,000
75,000
80,000
85,000
Date of Maturity
July 2
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997