HomeMy WebLinkAboutReso 143-1927AN ORDER E~0VIDING F~R THE ISSUANCE
0F STREET IMPROVEMEET BONDS, PRESCRI~
ING THE DENOMINATIONS 0F SUCH BONDS
AND THE INTEREST COUPONS ATTACHED:
N0. ~6
WHEREAS the Board of Trustees of the City of So~th San Fxancisco did,on the 8th'
day of June,1926 pass its Resolution of Intention No.~6 for the improvement of certain
streets and Avenues in said ~;Ees-ot~tion of Intention mentionedand described,under and pursu-
ant to the provisions of the Improvement Act of 1911,and the amendments thereto,reference
to said resolution of intention being hereby expressly made gor a description of said work
and the district in said Resolution of Intention mentioned and for further particulars;and
WHEREAS the contract for said work and imprOvement was duly awarded to A.G.Raisch
and t~ereafter was dul~ completed to the satisfaction of the Superintendent of Streets of
said City whereupon a diagram anA assessment waze duly made and filed with the City Clerk;
and
~?HEREAS,after due notice o~ the filXng of said assessment was given as provided by
law.and said assessment was,on the 20th.day of December,1928,duly confirmed by said Board of
Trustees and thereupon a warrant was attached thereto by saAd Superintendent of Streets,and
thereafter said diagram,assessment and warrant were duly recorded by said Superintendent of
Streets and then delivered to the contractor,inn time ,form and manner as required by said act;
and said warrant having been duly returned to said ~uperintendent of Streets,with a written
statement of all payments received upon said assessment,signed by said contractor, which statement
was thereupon duly si~ned by said Superintendent of Streets with the record of sa~d warrant and
assessment;and
'~EEREAS,on the 22nd day of March 192?,said Superintendent of Streets duly made and filed
with the Clerk of the ~oard of Trustees a complete list of all assessments unpaid under said
assessment upon the respective assessments or diagram numbers thereon,whereupon said Clerk duly g~
notice of the filing of saod list,having fixes Monaday,t~e 18th day of April 1927 at the hour
of ?:ZO o'clock p.m..as the time when interested persons might appear before said Board of
Trustees and show cause why Bonds shouod ~t be issued upon the security of the unpaid as~essmnet~
shown upon s&&d list,said time being that ~ regular meeting of said Board of Trustees;and it
appearing from the affidavit of Daniel ~cSweeney,City Clerk of said City,which affidavit is now
on file in the office of the City Clerk.that said notiwe was posted as required by law,and it
likewise appearing from the affidavit of E.H.Bramble,which affidavit is now on file in the office
of the City Clerk,that said notice was published asr~quired by law: ww an& no persons having at
time made objection against the issuance of bonds$it is hereby determined that the assessments u
unpaid and the aggregate amount of the same are as follows;
DIAG~L~f AND ~,i0~T OF
AS :!"ESS~ENT ~PAID
NU~LB ER LOT BLOC E S UBDIV I S I ON AS SESS~ ~.
50 $1274.20
The total or aggregate amount of said sums unpaid is TWELVE HUNDRED and SEVENTY-FOUR
and 20/100 DOLLARS ($1274.20) ~
NOW,TMEREFORE?in consideration of the premises the Board of Trustees of the City of
South San Francisco do order as follows:~
140
SECTION 1.
That bonds be issued~ upon the security of said unpaid assessments in the amouht
of Twelve Hundred Seventy Eour and 20/100 Dollars ($1274.20),in accord ance with the provisions o~
of said "Improvement Act of 1911",and the amendments thereto, and of the "Improvement Act
of 1915" and the amendments thereto,under anr pursuant to the resolutions,nottces,~d proceedings
duly adppted and taken by said Board of Trustees: said bonds shall be called"Improvements Bonds"
and shall be dated April 18th,1927,and shall bear interest at the rate of seven (~) percent
per annum a~nd shall be ten (10~ in number and of the following denominations,and shall be
numbered and mature as hereinbefore indicated,and the coupons attached shall be of the denoninati(
as follows:
Bond DENOMI*- Date of DENOMI- DEN0~v~NA-
numbers SERIES nations ~,~TURITY , nations of TIONS OF
INTEREST C0U SEMI-ANHUAL
PONS PAYABLE INT~R~ST
JANUARY 2,1928 COUPONS.
1 N $127.60 July 2m1028 88181 $4.45
2 N $127.40 July 2,1929 $8.81 ~4.45
3 N ~$127.40 July 2,19~0 $4.45
4 ~ ~127.40 July ~,~9~1 81 g4.45
5 N $127.&0 July2,1~2 81 $4.45
6 N $127.40 July 2,1933 81 ~.45
7 N $127.40 July 2,1934 $8.8l .&~
8 N S127.40 July 2,1935 58581 S4.45
l0 N 8127'40 July 2,1937 $8 181 $4.45
SECTION 2
Said bond s shall be issued in anual series and the unpaid assessments as dertermined
by said Board of Trustees,together with the interest theron,ahall remain and constitute a trust
fund fpr the redemption and payment of said bonds and of the interest which may be due thereon,
which unpaid assessments shall be payable in annual series corresponding in mnnber to the number
of series of the bonds issued,and an even annual proportions of each assessment shall be payable
in each year preceding the dato of maturity of each of the several series of bonds,and such
prportion of each as~essment coming due in any year,together with the annual interest thereon
shall in turn be payable in installments the same as the general municipal taxes of said City
of South San Francisco on real property are payable,and shall become delinquent at the same time
and in the same proportionate amounts and bear the aame p~zportionate penalties for delinqency.
Said bonds shall be signed by the treasurer of said City of South San Francisco and counter-slgne~
by the Clerk who shall affixed thereto the Official seal of said City.and interest coupons affixe(
thereto shall be signed by the Treasurer and bear his engraved or lithographed signature; said bo~
bonds shall be substantially in the form set forth in said "Improvement Bond Act of 1915,"as
amended.
The interest coupons attached to wach of said bonds and evidencing the interest to accrue
thereon shall be numbered consecutively and ~hal~ be substantially in the following form. To-wit.
Coupon No. ' $
The City of South San ~rancisco,Cal,wil~ pay the bearer hereof on the 2nd day o-~--- , ,,,
$ at the office of the City Traes~s~id sum being the semi-
annual interest due on improvement-s--
Bond No.
Series ~o.
City Traasurer,
SECTION 3
~aid City Clerk shall forthwith deliver said bonds to said A.G.Raisch,in
satisfaction of the balance due him upon his assessment and warrant.
-0-0-O-O-O - 9-O-0 -O-O-O-0 -O- O-O-0--O-O-O-
I hereby certify that the foregoing resolution was' regularly introduced and adopte~
by the Board of Trust~es of the CitT~of South San Francisco ,this 18th day of April,1927
by the lo,flowing vote;
AYES, Trus tees ,Eschelbach,Lloyd, Tibbetts and CunninMham
NOES, Trust e e s. NONE
Absent,Trustees.Einucciani.
ATTEST .Daniel McSweeney
City Clerk.