HomeMy WebLinkAboutReso 85-19808330A
JHR~:KIJ:sc 07/30/80 '
:pl 08/04/80
RESOLUTION NO. 1_8~._~
A RESOLUTION DETERMINING UNPAID ASSESSMENTS
'AND PROVIDING FOR ISSUANCE OF BONDS
DOWNTOWN REVITALIZATION PROSECT ST-79-1
ASSESSMENT DISTRICT
RESOLVED, by the City Council of the City of South 'San Francisco, County
of San Mateo, California, that
WHEREAS, on January 3, 1979, this Board passed and adopted Resolution of
Intention No. 2-79 relating to the acquisition and construction of public
improvements under and pursuant to the provisions of the Municipal Improvement
Act of 1913, and therein provided 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 were to be paid in cash was duly published and mailed
in the manner provided by law, and the time so provided for receiving payment
of assessments in cash expired, and the Director of Finance of the City of
South San Francisco, the official who has been designated by this Council as
Collection Officer for cash payments of said assessments, filed with the
Treasurer of the City of South San Francisco, on July 18, 1980, a list of all
assessments which remained unpaid; and
WHEREAS, this Council duly considered said list and determined that the
same was an accurate statement thereof;
NOW, THEREFORE, IT IS HEREBY DETERMINED AND ORDERED, as follows:
1. _Ai_-st':o_f_'~'U_.rrp_ai_~.'_As_se.ss_m, en~s. The assessments now remaining unpaid
are as shown on said list and on Exhibit "A" attached hereto and by this
reference made a part hereof; the aggregate amount thereof is $412,618.12; and
for a particular description of the lots or parcels of land bearing the
respective assessment numbers set forth in said list, 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 thereof by this
Council.
2. Is.s?anc.e.: ~o.f. -__~n~d,s. Bonds in the aggregate principal amount of
~412,618.12 shall be issued as hereinafter provided upon the security of said
unpaid assessments .in accordance with the provisions of the Improvement Bond
Act of 1915 (Division 10 of the Street and Highways Code) and under and
pursuant to the provisions of said Resolution of Intention and the proceedings
thereunder duly had and taken. The bonds herein provided to be issued shall
be known as "Improvement Bonds, City of South San Francisco Downtown
Revitalization Project ST-79-1 Assessment District, Series S-85", and shall be
dated September 1, 1980. Said bonds shall be issued as coupon bonds,
registrable as to principal and interest or as to principal only, be numbered
and of the denominations and mature in the amounts and on the dates set forth
in. Exhibit "B" attached hereto and by this reference made a part hereof.
3. ~In_t.er.e_st.. Said bonds, shall bear interest from their date at the
rate or rates determined by this Council at the time of sale of said bonds
(not to exceed 10% per annum), payable commencing on January 2, 1981, and
'semiannually thereafter on July 2 and January 2 of each year to maturity.
Each bond will continue to bear interest after maturity at the rate
stated therein, provided it is presented at maturity and payment thereof is
2
refused on the sole ground that there is not sufficient money in the
redemption fund with which to pay same; if it is not presented at maturity,
interest thereon will run only until maturity.
4. _P.a¥.ab!e. The principal of and interest on said bonds shall be
payable in lawful money of the United States of America at the office of the
Treasurer of the City of South San Francisco. Principal and interest on any
fully registered bonds and principal on any bonds registered as to principal
only shall be paid to the registered owner by check or warrant mailed to the
address entered in the registry book provided for herein.
5. Fo~. The coupon bonds, the registration endorsement thereon and
the coupons to be attached to such bonds shall be substantially in the forms
set forth in Exhibit "C" attached hereto and incorporated herein by reference,
the blank spaces therein to be filled in to conform to the provisions of this
resolution.
6. E.x.e_c~._t_ipn. Said bonds shall be executed on behalf of the City and
under its official seal by said Treasurer and by its City Clerk, and the
coupons attached to the coupon bonds shall be executed by said Treasurer,
whose signature may be reproduced on the bonds and on the coupons by engraved,
printed or lithographed facsimile thereof, and the official seal may be placed
on the bonds in like manner; such signing and sealing shall cOnstitute and be
a sufficient and binding execution of each and every one of said bonds and of
any coupons thereon, respectively.
If any officer whose signature appears on said bonds or on any coupons
thereon ceases to be such officer before the delivery of said bonds to the
purchaser thereof, such signature shall be as valid as if such officer had
remained in office until the delivery of said bonds.
7. ?.r~ep~a_r~alt_ip~_-~b.a_n_df~_l_~e~ - o.ff ~Bpnd_s.. The Director of Finance is
hereby directed to cause said bonds to be prepared in accordance with this
resolution and to deliver same upon their completion and execution to the
purchaser thereof,-upon receipt of the purchase price therefor, and upon the
performance of the conditions contained in the accepted bid for the bonds, as
determined by this Council.
8. ~I~m ~r~ v_e_m~e_n_t~' .~ ~u~nd. Said Director of Finance shall keep an
improvement fund designated by the name and/or number of the improvement or
assessment district, into which shall be placed the proceeds received from the
sale of said bonds, including any premium (except that any interest accrued
from the date of the bonds to the date of delivery thereof shall be placed in
the redemption fund provided for herein). All moneys in said fund shall be
withdrawn only upon checks or warrants of the City of South San Francisco and
shall be applied exclusively to the payment of the cost of the acquisitions
and/or construction of the improvements described in the proceedings under and
pursuant to said Resolution of Intention, as now or hereafter changed or
modified by appropriate legal proceedings, and all expenses incidental
thereto. Any surplus remaining after payment of all costs and all legal
charges, claims and expenses shall be used as set forth in said proceedings._
9. Re~i~,dempti~om_ ~Fu~n_d~. Said Director of Finance shall keep a redemption
fund designated by the name · of the bonds, into which shall be placed any
accrued interest for the period from the date of said bonds to the date of
delivery thereof and all sums received from the collection of unpaid
assessments provided for in Section. 11 hereof, and of the interest and
penalties thereon, and from which fund disbursement shall be made to pay the
principal or advance redemption price of the bonds and the interest due
thereon.
10. ~Bo_ndf~d~_~.x~r. The Treasurer shall keep or cause to be kept a
register showing the series, number, date, amount, rate of interest, the last
known holder of each bond, and the number and amount of each interest coupon
paid, and shall cancel or cause to be canceled each bond and coupon paid.
11. ~_ott_e¢_tio_n;~.f~_'~.LkrTai_~.-_-~_s_~e_~_s~__e~s. The unpaid assessments shown on
said list, together with the interest thereon, shall be payable in annual
series corresponding in number to the number of serial maturities of the bonds
issued. An annual proportion of each unpaid assessment shall be payable in
each year preceding the date of maturity of each of the several series of
bonds issued, sufficient to pay the bonds when due, and such proportion of
each unpaid assessment coming due in any year, together with the annual
interest thereon, shall be payable in the same manner and at the same time and
in the same installments as the general taxes on real property are payable,
and become delinquent at the same times and in the same proportionate amounts
and bear the same proportionate penalties and interest after delinquency as do
the general taxes on real property. All sums received from the collection of
said unpaid assessments and of the interest and penalties thereon shall be
placed in the redemption fund provided for herein.
12. ~R_ed_emD~pn/_-?_r.._i.o.r:.!t.o~/Ma~nri_t~. Each bond outstanding may be
redeemed and paid in advance' of maturity upon the second day of January or
July in any year by giving at least 60 days notice and by paying the principal
amount thereof together with a premium equal to 5% of the principal plus
interest to the date of advanced maturity, unless sooner surrendered, in which
event said interest will be paid to the date of payment, all in the manner and
as provided in the Improvement Bond Act of 1915.
The provisions of Part 11.1 of the. Improvement Bond Act of 1915 are
applicable to the advance payment of assessments and to the calling of said
bonds.
The Treasurer shall call for redemption and retire bonds upon prepayment
of assessments in amounts sufficient therefor, or whenever sufficient surplus
funds are available therefor in the redemption fund. In selecting bonds for
retirement, the lowest numbered bonds of the various annual maturities shall
be chosen pro rata in a manner intended to disturb as little as possible the
relationship of unpaid assessments to bonds outstanding.
13. .R_e~i~t_~a~ip_n~_B~ok. The Treasurer shall keep or cause to be kept an
appropriate book showing at all times which of said bonds are registered and
in whose names, and, upon presentation of bonds for such purpose, the
Treasurer shall, pursuant to such reasonable regulations as the Treasurer may
prescribe, register or transfer or cause to be registered or transferred, in
said registry book, any of said bonds presented for such purposes.
14. Re~is%.r.a~ti~n£a~n.~i.~,.r~.~s_fe_r_~ ~f£ C~.~-f_B~n~ ~'~s_. Each coupon bond herein
authorized may be registered as to both principal and interest or as to
principal only, upon the written request of the holder and upon presentation
of the bond to the Treasurer for such purpose.
(a) _Pfi_n_cipa.~t?.'.a~_.d f ,'!~u~e_r_e~_t. When a coupon bond is presented for
registration as to both principal and interest, the coupons shall be removed
therefrom and canceled (or preserved in a place of safekeeping, at the option
of the Treasurer), and the number of the bond, the name and address of the
holder in whose name it is to be registered, the date of such registration and
a notation that the bond is registered as to both principal and interest shall
be entered in the registry book, and appropriate endorsement ther'eof shall be
made by the Treasurer in the space provided therefor on the back of the bond.
Until such registration is discharged as hereinafter provided, the interest
when due shall be payable only to the registered owner and the principal when
due shall be payable only to such owner upon surrender of the bond to the
Treasurer.
(b) ?r__i_n._~_pat_~.O~.~-t~. When a coupon bond is presented for registration
as to principal only, the entries specified in the preceding paragraph shall
be made in the registry book and on the bond, except that a notation in said
book and on said bond shall indicate that the bond is registered as to
principal only. In such case, the coupons remain negotiable and transferable
by delivery and shall not be removed from the bond. Interest on such bond
shall be paid to or upon the order of the person presenting the coupons for
payment; principal, however, shall be paid only to the registered owner upon
surrender of such bond to the Treasurer.
(c) _Tr_a_n.sfer. A registered coupon bond may be transferred only by the
registered owner, in person or by attorney duly authorized in writing, by a
written instrument of transfer in form acceptable to the Treasurer, and by the
Treasurer endorsing such transfer on the bond and in the registry book. No
transfer shall be required to be made during the fifteen (15) days next
preceding an interest payment date.
(d) .Dise_ha_r~e;-fr,.om_,~--R_e~i-s.._.t~-__.a~._i__~c!n_. A registered coupon bond may be
discharged from registration upon written request of the registered owner. In
.
such case, the Treasurer shall transfer the bond to bearer by appropriate
endorsement on the bond and in the registry book, cause all unmatured coupons
that have been removed from the bond to be reattached to the bond (such
coupons to be reprinted, if necessary), and deliver the bond and coupons to
the owner, and thereupon negotiability and transferability by delivery shall
be restored.
(e) _R_ere~s~ra_~_~.m. Coupon bonds that have been discharged from
registration are subject to successive registrations and transfers in the
manner heretofore provided.
(f) ~Ch.a_r~e_s. The person requesting registration, transfer or discharge
from registration of coupon bonds shall, as a condition precedent to the
exercise of such privilege, pay the reasonable charges of the Treasurer
therefor, if any, including any cost of reprinting the coupons and any tax or
other governmental charge required to be paid with respect thereto.
15. .A. dy_a_.nces£~f.rp..m.~_'.Ava_i_~-l~_b!'e.~'?~Surpt, u_sy_-.F.u_nds.. The City shall be the
purchaser of property upon which payment of an annual installment of principal
and interest due upon any of said unpaid assessments is delinquent, in like
manner in which it becomes or may become the purchaser of property sold for
the nonpayment of general taxes, and shall transfer from available surplus
funds into the redemption fund for said bonds, as an advance recoverable upon
sale or redemption of the property, the amount of the delinquent unpaid
assessment installment upon which said sale is made. The City shall also pay
and transfer from available Surplus funds into said redemption fund, as an
advance recoverable upon sale or redemption of the property, the amount of any
future delinquent unpaid assessment installments on such property pending
redemption.
16. R_es_ery_e" -F_~_~xd. Upon the delivery of said bonds, the Director of
Finance shall forthwith transfer from the capital improvement fund of the City
the sum of $50,000 into a special reserve fund, which shall be designated by
the name and/or number of the improvement or assessment district. The money
in said special fund shall be administered and invested by the Director of
Finance and shall be and constitute a trust fund for the benefit of the
bondholders in accordance with and pursuant to the provisions of Part 16 of
the Improvement Bond Act of 1915. Said fund shall be maintained at $70,000
during the period when anY bonds and the interest thereon remain unpaid.
Proceeds from (1) investment of moneys in the reserve fund and (2) redemption
or sale of the properties with respect to which payment of delinquent
assessments and interest thereon was paid from the reserve fund, shall be
credited to the reserve fund only to the extent necessary to maintain the
amount in said fund at $50,000. Any money in said fund in excess of $50,000
after payments of the prinCipal and interest on the bonds on July 2 of each
year shall be transferred to the general fund of the City. When all of the
bonds and the interest thereon have been paid in full, any amount remaining in
said fund shall be apid to the City for application to any lawful purpose.
Except as herein otherwise expressly provided, the provisions of Part 16 of
the Improvement Bond Act of 1915 shall apply.
17. ~py_e_n_a_ntf_~o_-,_~P_o_r_e~tp.se. The City hereby covenants with and for the
benefit of the holders of the b~nds that it will order, and cause to be
commenced 'within 120 days foilowing the date of delinquency, and thereafter
diligently prosecuted, an action in the superior court to foreclose the lien
of any assessment or installment thereof not paid when due, pursuant to and as
provided in Sections 8830 through 8835, inclusive, of the Streets and Highways
Code of the State of California.
18. ~Npn.-_A_rbitr~e-~_C_ove_nm_n.~t. The City hereby covenants with the holders
of the bonds that'it will make no use of the proceeds of said bonds at any
time during the term thereof which, if such use had 'been reasonably expected
on the date said bonds were issued, would have caused said bonds to be
arbitrage bonds within the meaning of Section 103(c) of the Internal Revenue
Code of 1954, as amended, and the Temporary and Proposed Treasury Regulations
promulgated thereunder.
19. ~_e rt_~f_i.c_a~e.~ -a_~_- f.~.o :_~on_-A...r~. i_~_~a~e. On the basis of the fact s,
estimates and circumstances now in existence and in existence on the date of
issue of said bonds, as determined by the Director of Finance, said Director
of Finance is authorized to certify that it is not expected that the proceeds
of said issue will be used in a manner that would cause such obligations to 'be
arbitrage bonds. Such certification shall be delivered to the purchaser of
said bonds at the .time of delivery of and payment for said bonds.
20. ~_er_~_~.f_~e.d.~-.~C.op.ies. The City Clerk shall furnish a certified copy of
this resolution to the Treasurer, the Director of Finance and to the Auditor
of the County of San Mateo.
I hereby certify that the foregoing resolution was regularly introduced
and adopted by the City Council of the City of South San Francisco at a
regular meeting held on the ,'6-tbf day of .A]~3j~i,-_--_,'.-f_-_~f-.'_-, 1980, by the
following vote:
AYES:
NOES:
Councilmen Ronald G. Acosta, Mark N. Addiego, Emanuele N. Damonte,
Gus Nicolopulos; and Councilwoman Roberta Cerri Teglia
None
ABSENT:
None
ABSTAINED:
None
ATTEST:
City
10
LIST OF UNPAID ASSESSMENTS
CITY OF SOUTH SAN FRANCISCO
DOWNTOWN REVITALIZATION PROJECT ST-79-I
ASSESSMENT DISTRICT
Assessment
_~_-Num..b.~r_~-_~-
1
4
6
7
8
10
11
12
13
14
17
18
19
21
22
23
24
25
26
27
29
30
31
32
33
34
35
36
37
39
4O
42
43
44
45
46
47
48
5O
Assessor ' s
12-302-14
12-302-16
12-312'34
12-312-33
12-312-32
12-312-30
12-312-29
12-312-37
12-312-26
12-312-25
12-312-22
12-312-21
12-312-20
12-312-38
12-315-17
12-315-16
12-315-15
12-315-14
12-315-13
12-315-12
12-315-09
12-315-08
12-318-06
12-319-02
12-319-01
12-316-11
12-316-10
12-316-09
12-316-08
12-316-06
12-316-05
12-316-03
12-316-02
12-316-01
12-313-17
12-313-16
12-313-15
12-313-14
12-313-12
Amount of
13,455.98
6,727.99
6,727.99
6,727.99
6,727.99
6,727.99
6,727.99
6,727.99
3,363.99
3,363.99
3,363.99
3,363.99
3,363.99
10,091.99
6,727.99
6,727.99
6,727.99
6,727.99
6,727.99
3,363.99
3,296.72
5,059.45
20,322.57
13,587.85
6,734.72
7,033.44
3,363.99
6,727.99
3,363.99
3,363.99
6,727.99
3,363.99
3,363.99
6,727.99
6,727.99
6,727.99
3,363.99
3,363.99
3,296.72
EXHIBIT "A"
I1
51
52
53
54
55
56
57
58
59
6O
61
63
64
65
66
67
68
69
72
73
74
75
76
77
8O
81
82
83
84
12-313-11
12-313-10
12-313-09
12-313-08
12-313-07
12-313-06
12-313-05
12-313-04
12-313-03
12-313-01
12-305-26
12-305-24
12-305-23
12-305'22
12-305-21
12-305-27
12-305-18
12-305-17
12-305-14
12-305-13
12-305-12
12-305-11
12-305-28
12-305-08
12-305-05
12-305-04
12-305-03
12-305-02
12-305-01
Total
3,431.27
3,363.99
3,363.99
10,091.99
6,727.99
6,727.99
6,727.99
3,363.99
6,727.99
10,091.99
6,727.99
3,363.99
6,727.99
3,363.99
3,363.99
6,727.99
6,727.99
3,363.99
3,363.99
3,363.99
3,363.99
6,727.99
13,455.98
6,727.99
6,727.99
6,727.99
6,727.99
6,727.99
,6.; 7 ~.7... 9~
412,618.12
EXHIBIT "A"
(~i)
12
$412,618.12 IMPROVEMENT BONDS
SERIES S-85
CITY OF SOUTH SAN FRANCISCO
DOWNTOWN REVITALIZATION PRO3ECT ST-79-1
ASSESSMENT DISTRICT
Coupon
Bond Numbers
' .{.In_c.lu S.~?e.)
Principal
I $ 7,618.12 $ 7,618.12
2 5,000.00 5,000.00
3 - 4 5,000.00 10,000.00
5 - 6 5,000.00 10,000.00
7 - 8 5,000.00 10,000.00
9 ~ 10 5,000.00 10,000.00
11 5,000.00 5,000.00
12 - 16 1,000.00 5,000.00
17 - 18 5,000.00 10,000.00
19 - 23 1,000.00 5,000.00
24 - 25 5,000.00 10,000.00
26 - 30 1,000.00 5,000.00
31 - 32 5,000.00 10,000.00
33 - 37 1,000.00 5,000.00
38 - 39 5,000.00 10,000.00
40 - 44 1,000.00 5,000.00
45 - 47 5,000.00 15,000.00
48 - 52 1,000.00 5,000.00
53 - 55 5,000.00 15,000.00
56 - 60 1,000.00 5,000.00
61 - 64 5,000.00 20,000.00
65 - 69 1,000.00 5,000.00
70 - 73 5,000.00 20,000.00
74 - 78 1,000.00 5,000.00
79 - 82 5,000.00 20,000.00
83 - 87 1,000.00 5,000.00
88 - 93 5,000.00 30,000.00
94 - 99 5,000.00 30,000.00
100 - 106 5,000.00 35,000.00
107 - 114 5,000.00 40,000.00
115 - 122 5,000.00 40,000.00
Maturity
Date
~(.3u.t ~r.- 2.~
1981
1981
1982
1983
1984
1985
1986
1986
1987
1987
1988
1988
1989
1989
1990
1990
1991
1991
1992
1992
1993
1993
1994
1994
1995
1995
1996
1997
1998
1999
2000
EXHIBIT "B"
13
C_8UPPNI_~O..t~-F.P_RM~ The coupon bonds shall be substantially in the following
form:
UNITED STATES OF AMERICA
STATE OF CALIFORNIA
BOND NO.
CITY OF SOUTH SAN FRANCISCO
IMPROVEMENT BOND
DOWNTOWN REVITALIZATION PROJECT ST-79-1
ASSESSMENTDISTRICT
SERIES S-85
COUNTY OF SAN MATEO
Under and by virtue of the Improvement Bond Act of 1915, Division 10 of
the Streets and Highways Code, the City of South San Francisco, State of
California, will, on the second day of July, ~, out of the redemption fund
for the payment of the bonds issued upon the unpaid portion of the assessments
made for the acquisition, work and improvements more fully described in the
proceedings taken pursuant to Resolution of Intention No. 2-79, adopted by the
City Council of the City of South San Francisco on the 3rd day of January,
1979, pay to bearer (or, if this bond is registered as herein provided, to the
registered owner hereof) the sm of
DOLLARS ($F ....... )
with interest thereon from the 1st day of September, 1980, at the rate
of 3-'-'-*_:-'-'-% percent ( ......... %) per annum, all as is hereinafter specified,
at the office of the Treasurer of the City of South San Francisco.
This bond is one of seVeral annual series of bonds of like date, tenor
and effect, but differing in amounts and maturities, issued by the City of
South San Francisco under said law for the purpose of providing means for
paying for the acquisition, work and improvements described in said
proceedings, and is secured b the moneys in said redemption fund and by the
unpaid portion of the assessments made for the payment of said acquisition,
work and improvements, and, including principal and interest, is payable
exclusively out of said fund..
The interest is payable semiannually, to wit: On the second days of
January and July in each year hereafter, upon presentation of the proper
coupons therefor; provided, that the first of said coupons is for the interest
to the second day of January, 1981, and thereafter the interest coupons are
for the semiannual interest.
EXHIBIT "C"
14
This bond will continue to bear interest after maturity at the rate
above stated; provided, it is presented at maturity and payment thereof is
refused upon the sole ground that there is not sufficient money in said
redemption fund with which to pay same; if it is not presented at maturity,
interest thereon will run until maturity.
This bond may be~ registered ~as to principal and interest or as to
principal only, with the privilege of transfer, discharge from registration
and successive registration, upon written request of the owner and
presentation of the bond to the Treasurer and payment of the charges, if any,
all as set forth in the resolution providing for the issuance hereof.
This bond may be redeemed and paid in advance of maturity upon the
second day of January or July in any year by giving the notice provided in
said law and by paying principal and accrued interest together with the
premium equal to five per centum of the principal.
IN WITNESS WHEREOF, the City of South San Francisco has caused this bond
to be signed by its Treasurer and by its City Clerk, has caused the coupons
attached hereto to be signed by said Treasurer, and has caused said Clerk to
affix hereto its official seal, all on the 1st day of September, 1980.
City Clerk of the City of South
San Francisco
Treasurer of the City of South
San Francisco
( SEAL )
~pU~ON-~ ~O~_~. The coupons to be attached to the coupon bonds shall be
substantially in the following form:
THE CITY OF SOUTH SAN FRANCISCO,
County of San Mateo, California, will
on the due date hereof, unless, the bond
specified herein is redeemed prior
thereto, pay to bearer the sum hereon at
the office of the Treasurer of the City
of South San Francisco, as interest on
its IMPROVEMENT BOND designated DOWNTOWN
REVITALIZATION PROJECT ST-79-1 ASSESSMENT
DISTRICT, SERIES S-85, dated September 1, 1980.
Due ........... 2, '~-,'
Coupon No. -----
Bond No. -
Treasurer of the City of South San Francisco
EXHIBIT "C"
(ii)
15
~E¢%~RAT!ON~c~I~__RM_: The form of endorsement for registration on the
coupon bonds shall be substantially as follows:
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 only to
such owner, unless registered as to principal only, in which event the
principal is so payable.; provided, however, that this bond may be registered
to bearer and thereby discharged from registration and the negotiability
hereof restored.
Note: No writing below except by the Treasurer of the City of South San
Francisco.
Date of Type of Name and Address Signature of
~egi~.t~y-' .-.,.~.-.~ .- R~ g~g r.a~gD~'
Principal only
...........~ °' '' " and?Interest
Principal only
. .....................................................
Principal only.
................. and-Interest
~. ........ ~ ...... ~ .................... · .............................. f_ -
Principal only,
...... _"yt_'_'.'---~-*and-Interest .............. · ..................................... .
....... d ........................
*If registration is as to principal only, strike the words "and Interest"; if
as to principal and interest, strike the word "only".
EXHIBIT "C"
(iii)
16