HomeMy WebLinkAboutReso 5895-1972 RESOLUTION N0. , 5895
A RESOLUTION DETERMINING UNPAID ASSESSMENTS
AND PROVIDING FOR ISSUANCE OF BONDS
ANTOINETTE LANE STREET OPENING PROJECT
ASSESSMENT DISTRICT
RESOLVED, by the City Council of the City of South San
Francisco, California, that
WHEREAS, on October 18, 1971, said Council did pass and
adopt its ReSolution of Intention No. 5697, relating to the
acquisition and 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 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 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
~tEREAS, 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 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 confirmed
and recorded, severally and respectively.
3. The unpaid list is in the amount of $61,700.00, 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 10 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. Said bonds shall be dated September 6, ~
1972, be designated Series 80, be sixty-two (62) in number,
be payable at the office of the Treasurer of said City, South
San Francisco, California, 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, commencing on
January 2, 1974, 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 refer-
enc e.
4. Said bonds shall be issued in series, and the unpaid
assessments as shown on said list 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 corre-
sponding 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 assess-
ment coming due in any year, together with the annual interest
thereon, shall 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 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 Clerk and Treasurer, .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 constitute and
be a sufficient· and binding execution of each and-every one of
said bonds and coupons thereof, respectively. Said b'onds shall
be substantially in the form set forth in said Improvement Bond
Act of 1915, except for such changes as are necessary to con-
form to the provisions herein.
6. Registration of Bonds. Any bond may be registered
either as to principal and interest or as to prinolpal only,
upon written requemt o£ the bondholder and presentation of the
bond to the T~easurer for registration.
a) pr~nCip~l and In_terest. Upon presentation and
request for registration as to principal and interest, the
coupons shall be removed and cancelled, 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 cancelled as herein provided,
the interest shall be payable only to the registered owner~ and
the principal shall be payable only to such owner upon presenta-
tion 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 pre-
sentation of such coupons in the same manner as unregistered
bonds. Principal, however, shall be paid only to the registered
owner upon presentation of such bond.
c) Dere$istrationo The registration of any unmatured
bond may be cancelled 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 reregis-
tered, the principal thereof shall be payable to bearer, and
the interest shall again be paid upon surrender of proper coupons.
d) RereMistration. Deregistered bonds may be
reregistered in the same manner as previously unregistered bonds.
e) The person requesting registration, deregistration
or reregistration shall pay the fees 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 indicatinE
the date of registration, the type of registration, the name
of the registered owner, and the date of any. cancellation thereof.
7. 'The coupons shall be numbered consecutively and be sub-
stantiallY in the following form, to wit:
On the Second day of
CITY OF ~SOUTH SAN FRANCISC0,
California, will pay to bearer (unless
the bOnd iS redeemed prior thereto)the
sum hereon, at the office of the
Treasurer in the City of South San
Francisco, California, as interest on
Improvement Bond, dated September 6,
1972, Antoinette Lane Street Opening
Project Assessment District.
Coupon No.
No .
SERIES 80
Treasurer
8. The City Clerk shall forward certified copies of
this resolution to the City Treasurer of said City and Controller
of San Mateo County.
I hereby certify that the foregoing resolution was regularly intro-
duced and adopted by the City Councll of the City of South San Francisco
at a regular meeting held this 7th day of August, 1972, by the following
vote: .
AYES, COUNCILMEN Patrick E. Ahern, Gordon T. Boblitt, William A.
Borba, F. Frank Mammini and Warren Stelnkamp
NOES, " None
ABSENT, " None
ATTEST:
City Clerk
Assessment
Number
1
5
6
7
8
9
l0
ll
12
13
14
15
16
17
18
19
20
21
26
EXHIBIT"
LIST OF UNPAID ASSESSMENTS
CITY OF SOUTH SAN FRANCISCO
ANTOINETTE LANE STREET OPENING PROJECT
ASSESSMENT DISTRICT
Assessor's
Parcel Number
14-300-010
14-300-200
14-300-21o
14-300-22o
14-300-230
14-300-240
14-300-250
14-300-26o
14-3o0-270
14-30o-280
14-300-29o
14-300-180
14-300-170
14-300-160
14-300-150
14-300-140
14-3oo-10o
14-3oo-3oo
14-300-110
14-300-120
14-300-130
14-300-080
14-300-310
14-300-060
Amount of
Assessment
$ 51,333.89
516.87
461.05
461.05
478.58
643.66
653.88
493.63
511.16
511.16
523.53
317.47
310.81
343°93
343.93
340.60
340.60
337.48
343.93
310.81
317.47
694.31
642.37
467.83
61, 7o0. oo
EXHIBIT "B"
Series
Bond Numbers
80 i $
2 - 5
6- 9
lo- 13
14- 17
18- 21
22 - 25
26 - 29
30 - 33
34 - 37
38 - 42
43 - 47
48 - 52
53 - 57
58 - 62
Amount of
Prin¢ ipa 1'
700. O0
4,000. O0
4,000. O0
4,000. O0
4,000. O0
4,000. O0
4,000. O0
4,000. O0
4,000. O0
4,000. O0
5,000.00
5,000. O0
5,000. O0
5,000. O0
5,000.00
Date of Maturity
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
July 2, 1987
July 2, 1988
* All bonds, with the exception
of Bond No. 1, are in the
denomination of $1,000.00.