HomeMy WebLinkAboutReso 103A-1926IMPROVEMENT BONDS~ ~PRESCRIBING THE DENOMINATIONS
0~~ SUCR' BONDS IND THE
· *,~n~. COUPONS ATTAC~D~
N0 .~
WHEREAS the Board of Trustees of the City of South San Francisco did,on the 17th day of August,li.'~
192§,pass its Resolution of Intention No~ for the in~rovement of certain streets a'nd avenues in s~id
Resolution of Intentionnentioned and described under and purauant to the provision~ of the "Improvement
Act of 19il and the amendments thereto,reference to said Resolution of Intention being hereby express-
ly m~de for a description of said work and the district in said Resolution of In~e~tion mentioned and f
furhher particulars ;~nd
Whereas the contract for said work ~nd im?rovement was duly ~warded to Hanrahan Company an~ ~herea
was duiY~completed to the Satisfaction of the Superintendent of the Streets of said City whereon a diag
&ndI assessment were du~y made and filed with the City Clerk; ~nd
Whereas,after due notice of the filing of '~,ai~ assessment w~s given as provided by law, and ~id
assessment was amende~ by order of the Board of Tr~;stees,and said assessment was,on the l~th,day of May
19~$du_]y confirmed by sai~i Board .of Trustees and thereon a warrant w~s attached thereto by said Super9
intendent ofStreets, and thereafter said diagram,assessment and w~rrant were dulyrecorded by' s~id Super
intendent of Streets ~nd then deliVered to the contractOr,in time,form and manner as~required by ~aLd a~
andsaid warrant-h~ving been duly returned to said Superintendent ofSt~reets.with ~ written statement of
all payments received upon s~id ~s~'essment,signed by s~id contractor,which statement was thereutaon du~y
filed by said Superintendent of Streets with the record of ~aid warrant ~and Asse~sment.and
Whereas ,on the 8th day of June 19£6,said Superintendent of Streets duly m~de and filed with the
of this Board of Trustees a court, ets list of a~l assessments unpaid under said assessment uponthe re-
spective assessment or digr~m numbers thereon, whereupon said Clerk duly g~ve ~otice of the filin~g of
said list,h~ving fixed Liond~y ,thetgth day of July ,1926,at the hour of 8.00 o'Clock p.M. as the time
when interested persons might appoar~before said Board of Trustees and show cause why bonds should not 1
issued upon the .security of the un,mid ~ssessment ~'~hown upon s~id list, said time being that of aregulas
meeting of aR. id Board of Trusteer:and it appearing from tho affidavit of Daniel McSween~y,City Clerk
of said City ,which affid~it~t i,c now on file in the office of the City Clerk,that said notice w~s po~'
as required by law,and it ~ikewise ~ppearing from the affid~vi?ief H.P. Reynolds,which affidavit is now
on file in the office of the City Clerk,that said notice w~s published as required by law and no person~
having at any time ~ade objection agsinst the issuance of bonds,it is hereby determined that ~he
unpaid and the ~ggregate amount f the same ~re as follows:
Diagram and
Assessment
Number Lot
1 1
7 ll
8 12
9
10 14
13 l?
14 18
15 1
20 10
22 12
23 13
24 14
25 15
26 16
27 17
33. 8
37 29
38 30
41
42 ~4
4~ 36
52 ~4
54 46
Block
B
B
B
B
B
B
B
C
C
CC
C
C
C
C
C
D
D
D
D
D
D
D
D
AIflo Ullt of
unpa i d
Subdivision Assessment
I~ap of Peck's Subdivision No.1 $ 219.86
" " " " " 159.09
" " " " " 159 . 09
" " " " " 187.19
" " "' " " 187.19
" " " " " 187.19
" " " " " 176.66
" " " " " 257.69
" " " " " 159.09
" " " " " 159.09
" " " " " 159.09
" " " " "' 187.19
" " " " " 187.19
" " " " " 187.19
" " " " " 187.19
" " " " " 187.19
" " " " " 308.99
" " " " " 445.66
" " " " ·" 159.08
" " " " " 159.08
" " " " " 159.08
" " " " " 159.08
" " " " " 159.08
" " " " " 159.08
The total or aggregate tmount of said suns unpaid is Four Thouz'and Six Hundred thirty-six
and 31/100 Dollars
NOW,THEREFORE,in consideratio~ of the premises,the Board of Trustees of the ~ity of South San
~'ranci,(co do order as follows: '
SECTION 1 :
~hat bonds be issued u!.on the security of said unpaid assessment in. the amomut
o£ Four Thousand. Six Hundred Thirty-Six and 31/100 Dollars ($4636.51).in accordance with the pro-
via'ions of said "ImProvement Act of 1911 ,and the amondm~nts thereto,u~drof the "Improvement Bond Ac
of' 1915 ",and the amendments thereto,under and pursuant to the resolution, notices,and proceedings
adopted and taken by said Board of Trustees:said bonds shall be c~lled "InprovementBonds" and sha~l
dated July 19th,1926, and shall bear interest at the rate of seven (7) ?ercent l>er annum and shall
be ten (10) in number, and of the following den~n~nations,and shall be number and mature as hereinaft,
indicated,and the coupons attached shall be of the denominations as follows :
Bo~d Denomi- Date of Denominations Denomination
N~,ubers Series nations Maturity Of Interest Coupons of Semi~annu~
1 M $ 463.64 July 2,1927 Paya~.~n., 2,1927 Inte~2~o~]
2 ~ 4:65.63 JUly 2,192~ 18.39 16.23
6 M 463.63 July 2,192~ 18.39 16.25
4 M 463.65 July 2,193~ 18.09 16.23
5 ~ 465.65 July 2,19~ 18.39 16.2Z
6 M 46~.63 July 2,1932 18.39 16.25
7 ~. 463.63 July 2,19~3 18.39 16.23
8 M 463.63 July 2,19~ 18.39 16.23
9 ~ 46J.63 July 2.1935 18.39 16.23
!0 M 463.63 July 2,1936 18.39 16.23
Said bonds shall be ~sued in annual carries and the unpaid assessments as determined
by said Bo~rd of Trustees,together with the interest thereon,shall remain and constitute a trust
f~md for the redemption and pcyments of said bond~· au d of the interest which may be due thereon,
which un]~aid ~sz'essment~' sh~ll be pay~bIe in annual ~eries corre~'~onding in number to the number
of series of th~ bonds i~.~sued,cnd Hn even ~nnucl proportion of each ~sse~sment shall be ;~.ayable
inet. ch year preceding the date of n~turity ofeach of the ~everal ~(~eries of bonds,and such profortior
of e~.{;h e. ssessment comf~ng due in any year,together with tho annual interest thereon shall in ~urn be
payable in installments the ~ane as the genercl r. unnicipcl t~xes of said City of South S~n Franuisoo
on real property ~re p~yable,and sh~ll become dolinq~gnt ~t the '.~ame tines ~nd in the ~'~me pro?or-
tion~te anounts and be~r the ~am~ pro~ortion~te ?en~!ties for dolinquoncey, Said bond~ sh~ll be sign~
by the Treasurer ~nd be~r his ongrcved or lithograph ~.ign~ture: s~id bOnds shal.~ be subst~ntia~Iy
in the form set £~rth in '~cid "I~.rovenent Bond Ac~ of 191~",as amended.
The ~ter~st coupons attached to each of said bonds ~nd evidencing the interest toaccrue
thereSn sh~l be nut,bored consecutively and sh~ll he substantially in the fo31owing form,to.wit.
Coupon No. $
The City of ~outh San Francisco,Cai;will pay the becrer hereof on tho 2nd d~y of
, $ ct the office of the City Treasurer,s~idbsome' being
the semi-annual interest due on Improvement.
Bond No.
SeriesNo.
Section Z:
Sctd City Clerk shall forthwith deliver said bonds to said Hcnrahan Company, in s~tisfac~ion
of the balance due him upon his assessment ~nd warrant.
I hereby certify that the foregoing resolution was regularly introdueed ~nd ado~ted by
the Board of Trustees of the City of South £~n Francisco,this 19th d~y of July, 1926,by the fol~owin
vote:
AYZS, THUS TLLS E[~ the lb cch ,Einu¢ c iani~ C tu~ni ngham
NOES?TY.'JSTLLS: None
ABSENt, TRUSTEES: Tibbetts ~nd LLOYD.
Daniel McSweeney
City Clerk.