HomeMy WebLinkAboutReso 103-1926AN ORDER PROVIDING FOR THE ISSU~d~CE OF
STREET IM~.-.0VEIg~T BONDS, PRESCRIBING
T~L DLi~0MINATIONS OF SUCH BONDS AND THE
II~TEREST COUP01.!S ATLACHED.
No, 54
WHEREAS the Board of Trustees of the City of South San Franc~,sco did, on the
4th day of M~y, 1925, pass it~ Resolution of Intention No. 5z~ for the improvement of
certain alleys and avonues in said Resolution of Intentior, mentioned and described,
under and I, ursuant %o %he yrovisiom~ of the "I~provement ~ct of 1911", and the
ar~endr~ent~ thereto, reference to said Resolution of Intention beinm hereby o::pressly
~ade for a des cr i? ti on of said work and the district in said Rosolution of Intention
mentioned and for further ~articulars: and
WHEREAS the contract for said work ~nd improver~,~ent was duly awarded to George
W. C~'hing and thereafter was duly completed to the satisfaction of the Superintendent
of Streets of s-aid City whereupon a disgram and asse~sL, ent were duly made and filec! with
the City Clerk: and
WHEREA~, after due notice of the fi3inz of said as.'-essment was given as pro-
videci~ by ]aw, and sale: assessme.;]t was ~en~ed by order of said Board of Trust~.~es, and said
assess~.ent was, on the ]st day of Liarch, 1926, du3y confirmed by said Board of Trustees
and thereupon a warrant was ~:ttached thereto by z'aid Su~,erinten¢~,ent of Stroets, and
thereafter said diazr~:.r~, as~'e,,-sr, ent and warrant v:ere du~y recorded by said Superintendent
of ~treets smd then delivered to the contractor, in tip. e, form and manner as req~ired
by said act: and said warx'ant havin~ been d;~ly returned to said Sup~rintendent of
£1reots, with a written state~.ent of aid paymonts 'received upon said assessr,~ent, si~.ned
by said contractor, which statement was thereupon duly filed by said Superintendent of
Streets with the record of said warrant and assessment; and
W1~R"Z'AS, on the lOth day of June, 1926, said Superintendent of Streetsduly made
and filed with the Clerk of this Board of Trustees a complete li~t of al.]. asses.'~ments
unpaid under said assessment upon the respective assess[:~ent or diagram, numbers thoreon,
whereu]~on s~id Clerk du/y gave notice of the filing of said list, having fixed Zonday,
the ~lst day of ~une, 1926, at the hour of 7:~00~,clock p,m., az' the time when interest-
ed per'Jons mizht appear before s8id Board of Trustees and ~.how cause why bond.~3 ~.hould
not be issued upon the security of the unpaid as."essmonts shown u?on said list, said
tine being that of a' regular meeting, of said Board of Trustees; and it l~ppearin~ from
the affidavit of Daniel LicSweeney, C'ity Clerk of said City, which af£idavit i'.~ now on
file in the office oi' the City Clerk, that said ~otice was }~osted as required by !aw,
and it .likewise appo~rinz fror~ the affidavit of H. E. Reynolds, which affidavit i'. now
on file in the office of ,~a~d City Clerk, that said notice was ?~ub]ishod as required
hy law: [nd the s~id matter and '~a, id hearin~ h~ving been r~:gula, rly continued by maid
Board of Tru'.tees to the 2$th day of Jmes, I~.,£6: and no I;ersons having at any time made
objection a~z~.~n,~'t the i~-s.,~a~.ce of bond.c, it is hereby dcterr:ined thor the as~"o~'sment~~
unyaid and the ~g-regate amount of the same are as follows:
27 $ 38.07
28 95.18
ZZ 95.18
Z8 25.58
59 76.14
72 65.45
73 63 .~5
7~ 6Z,aB
75 ~. 91.22
102 405.93
]51 126.9~
152 126.90
~167 101.52
17L 190.56
194 95.18
246,
247, 6~.45
255~ 65.45
256 ' 126.91
268 114.21
271 126.91
~9~ 65.45
407 65 .z~5
4~ 6~.46
425 65.45
4Z1 6~ .45
469 179.72
429 63.45
The total or aggregate amount of said s~s unpaid is Two Thou.'~and Seven Hundred
Forty-five and 41/]00 Dollars (~2745.41).
NOW, THEREP0.RE, in consideration of the premises, the Board of Tru'."tees of the
City of South San Francisco do order as follows:
SECTION 1:
That bonSs be issued upon the security, of said unpaid ass-e~':.ments in the m~ount of
Two Thousand Seven Hundred Forty-five and 4]./100 Dollars ($2745,41),-in accordance with
the provisions of said "Improvement Act of 191]", and t~,,e amendments thereto, and of the
"Improvor:~ent Bond Act of 1915", and the ~r.~endment~-~ thereto, under and pursuant to the
1-08
resolutions, notices, andproceedings duly adopted and taken by said Board of
Tru.~tees: said bonds shall be called "I~:~proverhent Bonds" and shall be dated
June 28th, 1926, and st~,]l bear interest at tho rate of seven (7) per cent per
annur~, and shall bo ten (10) in ntunber, and of the follov~ing denominations, and
~hatl be numbered and mature as hereinafter indicated, and %he coupons attached
sh~]l be of the denon~inations a[~ follows:
BONE SERIES DENONINATIONS DATE OF
NL%IBER~ I,LA. ~ I '. Y
DEt~O~INATI 0NS
COUPONS PAYABLE
JANUARY E, 19£?.
DENOI~Ii NAT I 0N S
0£ EEl, II-ANNUAL
INTEREST
COUPONS.
1 L $~74.~5 July 2, 1927 $10.8~ $9 61
2 L 274.5~ July 2, 1928 10.83 9.61
5 L £74.5~ July 2, 1929 ~0.85 9.61
4 L 274.54 July 2, 1950 10.85 9.61
5 L 274.5~ July 2, 1951 10.83 9.61
6 L 274.5~ July 2, 19~2 10.85 9.61
7 L 274.5~ July 2, 1955 10.85 9.61
8 L 274.5~ ~uly 2, ]954 10.85 9.61
9 L 274.~ July 2, 19~5 10.8Z 9.61
]0 i 274.§A July 2, 1956 10.85 9.61
SECTION 2:
Said bonds shall be issued in annual series and tho unpaid as[~essr,:ents as
deterr~ined by s~id Board of Trustees, together with the interest thereon, shall
remain cud constitute a trust fund for the redemption and payment of said bonds
and of the interest which z~ay be due thereon, w?dch unpaid as~es~nents shall be
payable in annu[~l series corresponding in number to the n~]ber of series of the
bond~, issued, and an evem annual proportion of each assess~ent shall be payable
in each year precedin~ the date of maturity of each of the' several series of
bondr, and such proportion of each ~ssess~ent coming due in ~uy year, together
with the ennual interest thereon shall in turn be payable in installments the
s~me ~s the general municipal taxes of said City of South San Fr~uci~,co on real
property ore payable, and shall become delinquent at the sa~e t~es and in the
sane proportionate amounts and bear the sa:~e proportionate penalties for del-
inquency. Said bond~· shall be signed by the Treasurer of said City of South San
Francisco and countersigned by the Clerk who shall affix thereto the Ofi'icial
seal cz' ~aid city; and interest coupons affixed thermate sh~ll be signed by tho
Tre[~urer and ear his engraved or lithographed signature; said bonds sh~ll bo
substantially in the form set forth in said "lnprove:,ont Bond ~ct of 1915", as
amc nd e d.
~Le interest coupons at~ached to e~ch el' acid bonds and evidencing the
intero~ t to accrue thereon ~11 be nu~nbered consecutively and shall be sub(~ant-
ia.]By in the follow'lng form, to-wit:
Coupon No. $
The City of South San ~'r~nci.(,co. Cal., will pay the bearer h,~reo£ on the
2nd day of , , $ at the office of the City
Treasurer, ~'aid sum bein~j tho semi-annu~.l interest duo on Imyrovenent
Bond i;o.
Series I~o.
City Treasurer
SECTION Z:
"aid City Clerk shall forthwith deliver said bonds to said George W. ~ushing,
said contrector, in satisfaction of the b~lsnce due him upon his assers~::ont and warrant.
-O-0-O-O-O-O-O-0-
I hereby certify that the forogoin~ resolution was re~u]ar!y introduced
~nd adopted by the Board of Trustees of the City of South Sbn Fr~ncisco, this
'eth d~y of June, 1926, by the following vote:
Ayes, Trustees: E~chelbach, Lloyd, t,iinucciani, Tibbetts, and Cunningh~::.
Noes, Trustees: i~one.
Absent, Trustees: None.
Attest:
D~ni el l~icSweeney.
City Clerk.