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HomeMy WebLinkAboutReso 263-1929248 AN ORDER PROVIDI'NG ~OR THE ISSUANCE O~ IMPR0V~ENT BONDS, PRESCRIBING THE DENOMINATION 0F Sb~H BONDS AND 0~ TW~, INTEREST COUPONS ATTACHED THERETO. WHEREAS, the City Council of the City of South San Francisco did. on the 4th day of June, 1928, pass its Resolution of Intention No. 60 f~r the improvement of portions of Grand Avenue, Chestnut Avenue, 0ommercial Avenue, Eucalyptus Avenue, Orange Avenue, Railroad Avenue, and the portion of the alley between Grand Avenue and Baden Avenue, from Acacia Avenae to Orange Avenue, the portion of the alley betWeen Miller Avenue and Grand Avenue from Spruce Avenue to Walnut Avenue, in the City of South San Francisco under and pursuant to the pro- visions of the "Improvement Act of 199",~ and the amendments thereto and to the resolutions, notices and other proceedings of said Council duly adopted and taken,' reference to said Resolution of Intention being hereby expressly, made for further ~particulars; and WHEREAS, the contract for said Work and improvement was duly awarded and there- after duly completed to the satisfaction of the Superintendent of Streets of said City and this Council whereupon and assessment, diagram and warrant were made, recorded and delivered to the contracto in time, form and manner as required by said act, and the contractor having made due return thereon and the same having been duly recorded; and WHERW, AS, on May 17th, 1929, the Street Superintendent of said City made and filed with the clerk of this Council a complete list of all assessments unpaid thereunder upon the respective assessment or diagram numbers thereon, whereupon said clerk gave notice of the filing of said list, and fixed in said notice Monday the 17th day of June, 1929, at the hour of 7:Z0 o'clock P. M. as the time when interested persons might appear before the .City Council of the City of South San Francisco and show cause why bonds should not be issued upon the security of the unpaid assessments shown on said list, said time being that of this regular meeting of said Council~ and said Council having heard all objections and having paased upon the same, it is hereby determined that the assessments unpaid thereunder and the aggregate amounts of same are as follows: Diagram and Assessment Numb e r ~oLt Block Subdivision Amount of Unpaid Ass essment 86 87 95 114 1§8 188 189 190 Wly. ~' of Ely. 15' of 5 8S Wly. 5S.ZS' of 8 8~ Wly. 5' of E 98 98 98 South San Francisco Plat No. 1 Plat No. E. Subdivision of Blocks 98, 99, 119 and lEE, South San Francis'co $77.70 5.5.50 74.00 21.25 £12o50 ~64.70 111.00 E1 116 South San Francis co, Plat No. 1 Beginning at a point in the northerly line of Grand Avenue in the City of South San Francisco distant thereon North 7§© £8' West 440 feet from the westerly line of Ashton Avenue; running thence North 7~° 28' Nest &0 feet; thence North ~2' East l~0 feet; thence South 7~© ~.8' East 40 feet; thence South 14© Z2' West l~0 feet to the point of beginning ll0.80 Beginning ~t a point in the northerly line of Grand Avenue inothe City of South San Francisco, distant thereon North 7~ ~8' West AO0 feet from the westerly line of Ashton Avenue; running thence north 78o 28' West 40 feet; thence North ~2' East l~0 feet; thence South 7~o ~8' East 40 feet; thence~ South 14© 8~' West l~0 feet to the point of beginning 110.80 Beginning at a pelutin the northerly line of Grand Avenue ih~the City of South Sau Francisco, distant thereon North 7~ ~8' West Z60 feet from the ~westerly line of Ashton Avenue; running thence North 7~° ~-8' West 40 feet; thence North ~E' East l§O feet; thence South 7§© ~8' East 40 feet; ~thence South lA© Z2, West l~O feet to the point of beginning llO.80 2O4 Beginning at a point on the northerly line of Grand Avenue O , . distant South 8~ l~ West 8~1 feet, North 880 ll' ~6" East 1E1.gZ~ feet and Nort]~ 70 ~ East 8.02 feet from the granite monument L-?, as shown on map~recorded in Volume E of N~ps at Page ?9,San ~Mateo County Records; thence North l~© ZZ' East 1~4.99 feet; thence North 70© 8~' East ~0.09 feet; thence on a curve to the ~ight with a radius of ~87 feet; a distance of 1~.6~ feet; thence South l~~ 8~' West 1~4.48 feet; thence South 70© $' West 1~4,48 feet; thence South 7o© 8Z' West 46 feet to the point of beginning lE7.4~ Beginning at a point in the northerly line of Grand Avenue in the City of South San Francisco; distant thereon north 74° ~7' West 64.~5 feet from the westerly line of ~hestnut Avenue; ~unning thence North 740 27' West 40 feet; thence North 15 J~' East 158.71 feet; thence South 74© ZT' East 40 feet; thence South 15© 8~' West 158.71 feet to the point after .duly completed to the satisfaction of the Superintendent of Streets of said City and this Council whereupon and assessment, diagram and warrant were made, recorded and delivered to the contracto in time, form and manner as required by said act, and the contractor having made due return thereon and the same having been duly recorded; and WHEREAS, on May 17th, 1929, the Street Superintendent of said City made and filed with the clerk of this Council a complete list of all assessments unpaid thereunder upon the respective assessment or diagram numbers thereon, whereupon said clerk gave notice of the filing of said list. and fixed in said notice Monday the 17th day of June, 1929, at the hour of ?:S0 o'clock P. M. as the time when interested persons might appear before the City Council of the City of South San Francisco and show cause why bonds should not be issued Upon the security of the unpaid assessments shown on said list, said time being that of this regular meeting of said Council; and said Council having heard all objections and having passed upon the same, it is hereby determined that the asseasments unpaid thereunder and the aggregate amounts of same are as follows: Diagram and Assessment Numb er Block Subdivision Amount Of Un~aid Assessment 88 Wly. 35' of 4 87 Ely. 15' of 5 93 Wly. 33.33' of 8 llS Wly. 5' of 2 114 3 135 20 158 21 188 189 190 83 83 83 98 98 116 South San Francisco Plat No. 1 Plat No. 2. Subdivision of Bl~cks 98, 99, 119 and 122, South San ~ranc is c o South San Francis co, Plat No. 1 $77.70 3,3.30 74.00 21.25 212.50 ~64.70 111.00 Beginning at a point in the northerly line ofI Grand Avenue in the City of South San Francisco distant thereon NOrth 75o 28" West 440 feet from the westerly line of Ashton Avenue; running thence North ?5° 28' West 40 feet; thence North 14° 32' East 150 feet; thence South 75° 28' East 40 feet; thence South 14° 32' West 150 feet to the 'point of beginni~4~ 110.80 Beginning ~t a point in the northerly line. of Grand Avenue in the City of South San Francisco. distant thereon North ?50 28' West ~00 feet from the westerly line of Ashton Avenue; running thence north ?~o 28' West 40 'feet; thence North 14° 32' E~st 150 feet; thence South ?5° 28' East 40 feet; thence~ South 14° 32' West 150 feet to the point of beginning lml0eS0 Beginning at a pointin the northerly line of Grand Avenue ih_the City of South San Erancisco, distant thereon North 75~ 28' West Z60 feet from the ~westerly line of Ashton Avenue; running thence North 750 28' West 40 feet; thence North 14o 32' East 150 feet; thence South ?~o 28' East 40 feet; ~thence South 14° 32' West 150 feet to the point of beginning 110.80 204 211 Beginning at a point on the northerly line of Grand Avenue distant South 53o 15' West 5.21 feet; North 88o ll' 46" East 121.93~ feet and North 70° 33' East 8.02 feet from the granite monument L-7, as shown on map,.recorded in Volume E of Naps at Page ?9,San ~Mateo County Records; thence North 15° 33' East 154.99 feet; thence North ?0° 33' East 30.09 feet; thence on a curve to the ~ight with a radius of 28? feet; a distance of 1~.62 feet; thence South 15~ 33' West 154.48 feet; thence South 70° 3~' West 154.48 feet; thence South ?o° 33' West 46 feet to the point of beginning 127.42 Beginning at a point in the northerly line of Graud Avenue in the City of South San Francisco; distant thereon north ?4° 2?' West 64.35 feet from the westerly line of ~hestnut Avenue; ~unning thence North 740 2?' West 40 feet; thence North 15~ 33' East 158.71 feet; thence South 74° 27' East 40 feet; thence South 15o 33' West 158.71 feet to the point of beginning 110.80 THE TOTAL OR AGGREGATE AMOUNT 0P SAID ASSESSMENT UNPAID IS THE SUM 0~ $1665.07. NOW THEREEORE, in consideration of the premises, the City Council of the City of South san FrancLvco do order as follows: Section 1. That bonds shall be issued upon the security of the unpaid assess- ments to said amount of $1665.00, in accordance with the provisions of said improve- merit act and the "Improvement~Bond Act of 1915' and under and pursuant to the resolutions, notices and proceedings of said council duly adopted and taken; said bonds shall be called "Improvement Bonds', shall be train number, shall be dated June l?th, 1929, and bear interest at the rate of seven per cent per annum from May l?th, 1929; and the.dengminations of said bonds and the interest coupons require~ to be attached thereto, with their respective numbers and dates of maturity, are as follows: Series Number of Number Bond Denominat ion Date PayAble $166.5o $166.50 $166.50 $166.50 July 2nd, 1930 July 2nd, 1931 July, 2nd, 1932 July 2n~, 1933 July 2nd, i934 P 6 $166.50 P 8 $166.50 P 9 $166.50 P 10 $166.50 July 2nd, ~935 July 2nd~ 1936 July 2nd, 1937 July 2nd, 1938 July 2nd, 1939 AND IT IS F~TEER RESOLVED: That wi th respect to said bonds having denomination of $166.50 that the first coupon to become payable on each of said bonds shall be of the denomination of $?.45 and that each of the other coupons attached thereon on which will become payable thereafter, shall b e of the denomination of $5.83. Sec. 2. Said bonds shall be issued in series, and the unpaid assess- ments as shown on said list filed by the Superintendent of Streets and deteremined by the City Council together with interest thereon, shall remain and constitute a trust fund for the redemption and payment of said bonds and 9f the interest which may be due thereon, which unpaid assessments shall be payable in annual series corresponding in number to the 'number of series of bonds,isSued, and an even annual proportion of each assessment shall be payable in each year preceding the date of the maturity for each of the several series of bOnds issued, and such proportion of each assessment coming due in any year, together with the annual interest thereon, shall in turn be payable in installments as the general municipal taxes of said City on real property are payable, and shall become de- linquent at the same times and in the same proportionate amounts and bear the same proportionate penalties for delinquency. Said bonds shall be signed by the Treasurer of said City and Counter- signed by the clerk who Shall affix thereto the official seal of said City; the interest coupons affixed thereto shall be signed by the Treasurer or bear his engraved, printed or lithographed signature; and such signing and sealing of said bonds by said officers and signing of said coupons by said Treasurer sh~ll constitute and be a sufficient and binding execution of each and every one of said bonds and all of the coupons thereof respegtively. Said bonds shall be substantially in the form set forth in said Improvement Bond Act. The interest coupons attached to each of said' bonds and evidencing the interest to accrue thereon shall be nUmbered consecutively and be substantially in the following form, to-wit: Coupon NO. The City of South San ~rancisco California, will · pay to the bearer hereof on the second day of 19 , at the offi~e of the $ city Treasurer, said sum being the semi-Annual interest due on Improvement Bond No. of Series No. Dated: $166.50 ~i66;50 $166.50 $166.50 $166.50 July 2n~, 1933 July 2nd, -~934 July 2nd, [935 July 2nd~ 1936 July 2nd, 1937 July 2nd, 1938 July 2nd, 1939 AND iT IS FURTHER RESOLVED: That with respect to said bonds having denomination of $166.50 that the first coupon to become payable on each of said bonds shall be of the denomination of $7.45 and that each of the other coupons attached thereon on which will become payable thereafter, shall be of the denomination of $5.83. Sec. 2. Said bonds shall be issued in series, and the unpaid assess- ments as shown on said list filed by the Superintendent of Streets and deteremined by the City Council together with interest thereon, shall remain and constitute a trust fund for 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 number to the 'number of series of bonds,issued, and an even annual proportion of each assessment shall be payable in each year preceding the date of the maturity for each of the several series of bonds issued, and such proportion of each assessment coming due in any year, together with the annual interest thereon, shall .in turn be payable in installments as the general municipal taxes of said City on real property are payable, and shall become de- linquent at the same times and in the same proportionate amounts and bear the same proportionate penalties for delinquency. Said bonds shall be signed by the Treasurer of said City and Counter- signed by the clerk who Shall affix thereto the official seal of said City; the interest coupons affixed thereto shall be signed by the Treasurer or bear his engraved, printed or lithographed signature; and such signing and sealing of said bonds by said officers and signing of said coupons by said Treasurer shall constitute and be a sufficient and bindi~ execution of each and every one of said bonds and all of the coupons thereof respegtively. Said bonds shall be substantially in the form set forth in said Improvement Bond Act. The interest coupons attached to each of said bonds and evidencing the interest to accrue thereon shall be numbered consecutively and be substantially in the following form, to-wit: Coupon No. The City of South San Francisco California, will · pay to the bearer hereof on the second day of 19 , at the office of the $ city Treasurer, said sum being the semi-~nnual interest due on Improvement Bond No. of Series No. Dated: E. P. Kauffmann Treasurer, Sec. 3 Said bonds shall be forthwith delivered to the contractor in satisfaction of the balance due him upon his assessment and warrant. I hereby certify that the foregoing resolution was duly and regularly adopted by the City Council of the City of South San Prancisco at a regular meeting thereof held June 17th, 19~, by the following vote, to-wit: Councilmen, Ayes R. Lloyd, R. Tibbetts, A. J. Eschelbach Councilmen, Noes None Councilmen, Absent A. Eynding, M. Minucciani Thereupon it was filed in my office on the same day, and recorded on page 248-249 of the record. Daniel McSweeney (SEAL) Clerk.