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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.