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HomeMy WebLinkAboutReso 320-1930308 AN ORDER PROVIDING P01{ TEE ISSUANGE 0P STREET IMPROVEMENT BONDS, PRESCRIBING THE DENOMINATIONS 0F SUOH BONDS AND THE INTEREST COUPONS ATTACHED, NO. 58. WNEREAS the Board of Trustees of the City of South San Francisdo did, on the 18th day of April, 1927, pass its Resolution of Intention No. 58 for the improvement of those certain streets in said resolution of intentiom mentioned and described,,under an& puxsuant' to the provisions of the "Improvement Act of I~ll", and the amendments there- to,,' reference to said resolution of intention being expressly hereby made for 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 thereafter was duly completed to the satisfaction of the SUperintendent of Streets of said City, whereupon a diagram and assessment were duly made and filed with the City C~erk; and WKEREAS, after due notice of the filing of said assessment was given as pro- vided by .tsw, and said assessment was, on the 5th day of December, 19~.?, duly confirmed by the City Council of the City of South San Francisco and thereupon a warrant was attached thereto by said Superintendent of Streets, and thereafter said diagram, assessment and warrant were duly recorded by said Superintendent of Streets and then delivered to the contractor, in time, form and manner as required by.said act; and said warrant having been duly returned to said Superintendent of Streets; and WHEREAS, on the 5th day of March, 1928, said Superintendent of Streets duly made and filed with the Clerk of this City Council a complete list of all assessments un- paid under said assessment upon the respective assessment or diagram numbers thereon, and said Clerk thereafter gave notice of the filing of said list, having fixed' Monday, the 15th day of May, 1930, at the hour of ?:30 o'clock p. m. as the time when interested per- sons might appear before said City Council. and' show cause why bonds should not be issued upon the security of the unpaid assessments shown upon said list, said time being that of a regular meeting of said City Council; and it appearing frmn the affidavit .of Daniel McSweeney, City Clerk of said City, which affidavit is now on file in the office of the C.ity ~lerk, that said notice was posted as required by law, and it likewise appearing from the affidavit of A. E. Bramble, which affidavit is now on file in the office of said City Clerk, that said notice was published as required by law; and the hearing upon said matter having been continued to this date; and no person having at any time made objection against the issuance of bonds, it is hereby determined that the assessments unpaid at the time of filing said list of unpaid assessments are as follows: DIAGRAM AND ASSESSMENT NO. LOT BLOCK AMOUNT OF %UNPAID ASSESSMENTS 18 85 150.00 8 19 85 150. O0 9 20 85 150.00 17 portion of 6 94 120.00 28 portion of 15 94 84.40 29 portion of 16 94 84.40 S~ portion of l? 9~ 168.80 36 : 1 lOS 226. O0 3? 2 103 226. O0 43 8 105 28 ?. 00' 44 9 103 28?. O0 51 17 103 150.00 The total or aggregate amount of said assessments unpaid at the time of fil- ing said list of unpaid assessments is the sum of TWo Thousand and Eighty-three and 60/100 Dollars ($2083.60). NOW,TEERE~0RE, in consideration of the premises the City'Council of the' City of South San Francisco do order as follows: Section 1. Tha% bonds be issued upon the security of unpaid portions of the assessments shown on the above mentioned list of unpaid assessments, in accordance with t$e provisison of the "Im?rovement Act of 1911," and the amendments thereto, and of the "~mprovement Bond Act of 1915," and the amendments thereto, so far as the same ar~ now applicable, under and pursuant to the resolutions, notices and proceedings duly adopted and taken by said City Council; except as otherwise herein provided; said bonds shall be called "Improvement Bonds" and shall be d~ted the 18th day of August, 1930, and shall bear interest at the rate of seven (?) per cent per annum and shall be eigh, t (8) in number and of the following denominations and .shall be numbered and mature, as hereinafter indicated, and the coupons attached shall be of the denominations as follows: BOND NUMBERS SERIES DENOM~INATI oNs DATED 0P MATURITY DENOMINATIONS 0F SEMI- ANNUAL INTEREST COUPONS WHEREAS the contract for said work and improvement was duly awarded to A. Raisch and thereafter was duly completed to the satisfaction of the SUperintendent of Streets of said City, whereupon a diagram and assessment were duly made and filed with the City C,lerk; and WME. REAS, after due notice of the filing of said assessment was given as pro- vided by-l~, and said assessment was, on the 5th day of December, 1927, duly confirmed by the City Council of the City of South San ~rancisco and thereupon a warrant was attached thereto by said Superintendent of Streets, and thereafter said diagram, assessment and warrant were duly recorded by said Superintendent of Streets and then delivered to the contractor, in time, form and manner as required by-said act; and said warr~nt having been duly returned to said Superintendent of Streets; and WHEREAS, on the 5th day of March, 1928, said Superintendent of Streets duly made and filed with the Clerk of this City Council a complete list of all assessments un- paid under s~id assessment upon the respective assessment or diagr~.m numbers thereon, and said Clerk thereafter gave notice of the filing of said list, having fixed~ Monday, the 15th day of May, 1930, at the hour of ?:30 o'clock p. m. as the time when interested per- sons might appear before said City Council-and~ show cause why bonds should not be issued upon the security of the unpaid assessments shown upon said list, said time being that of a regular meeting of said City Council; and it appearing from the affidavit .of Daniel McSweeney, City Clerk of said City, which affidavit is now on file in the office of the City ~lerk, that said notice was posted as required by law, and it likewise appearing from the affidavit of A. E. Bramble, which affidavit is now on file in the office of said City Clerk, that said notice was published as required by law; and the hearing upon said matter having been continued to this date; and no person having at any time made objection against the issuance of bonds, it is hereby determined that the assessments unpaid at the time of filing said list of unpaid assessments are as follows: DIAGRAM AND ASSESSMENT NO. LOT BLOCK AMOUNT 0F UNPAID ASSESSI~ENTS iS 85 19 85 150.00 20 85 150.00 portion of 6 94 1E0.O0 portion of 15 94 84.40 portion of 16 9A 8~.~0 portion of 17 9A 168.80 i 10S ~E6. O0 2 10S 2E6. O0 8 10~ 287,00, 9 1CS ~87.00 l~ 1CS lS0,O0 The total or aggregate amount of said assessments" unpaid at the time of fil- ing said list of unpaid assessments is the sum of Two ~housand and Eight2-three and 60/100 Dollars ($2083.60). NOW,TEERE~0RE, in consideration of the premises the City'Council of the City of South San ~rancisco do order as follows: Section 1. Tha~ bonds be issued upon the security of unpaid portions of the assessments shown on the above mentioned list of unpaid assessments, in accordance with t~e provisison of the "Im~rovement Act of 1911," and the amendments thereto, and of the "~mprovement Bond Act of ~915," and the ~mendments thereto, so far as th~ same ar~ now applicable, under and pursuant to the resolutions, notices and proceedings duly~adopted and taken by said City Council; e~cept as otherwise herein provided; said bonds~ shall be called "Improvement Bonds" and shall be dated the 18th day of August, 1930 and shall bear interest at the rate of seven (7) per cent per annum and shall be eigh~t 18) in number and of the following denominations and shall be numbered and mature, as hereinafter indicated, and the coupons attached shall be of the denominations as follows: BOND NUMBERS SERIES DATED OF MATURITY DE~ 0~I NAT I 0NS $2o .36 . 208°36 208.36 208.36 208.36 ~08.36 :808°36 208.36 DENOMINATIONS 0F SEMI- ANNUA~ INTEREST C 0UPONS July ~', !931 ~ $7.29 July Z, 1932 7.29 July Z, 1933 7.29 July ~, 1934 7.29 July E, 1935 7.29 July 2, 1956 '7.'29. July 2, 1937 7.~9 July ~, 1938 7.29 Section 2. Said bonds shall be issued in annual series and the portions of said assessments now unpaid, together with the interest thereon, shall constitute a trust fund for the redemption and payment of sa~d bonds and of the interest which may grow due thereon,' and the unpaid portions of said assessments shall become payable in annual series corresponding in number to ~he series of the bonds issued ~nd one-tenth (1/10) of each assessment shown upon said list of unpaid assessments shall b~ payable in each year preceding the date of maturity of each of the several series of said bonds, and such pzop0r~ibn of each assessment coming due in any year, together with the annual interest thereon, shall in turn be payable in installments the same as the municipal taxes of said City of South San Francisco on real property are pay- able, and shall become delinquent at the times and in the same proportionate am- cunts, and bear the same proportionate penalties for delinquency. Said bonds shall be signed by the treasurer of said City of South San Francisco and counter- signed by ,the Clerk, who shall affix thereto the official seal of said City; and interest coupons affixe~ thereto shall be signed by the Treasurer, or bear his engraved or lithographed signature. Said bonds s~all be. substa'ntially in the form set forth in said "Improvement Bond Act of 1915", as amended. The interest coupons attached to each of said bonds and evidencing the interest to accrue thereon shall be numbered consecutively and shall be sub- stantially in the following form, to-wit: CO 0N NO. $ The City of South San Francisco, Cal. will pay the bearer hereof on the End day of , $ 'at the off.ice of the City Treasurer, said sum being the semi-annual interest due on Improvement Bond No. Series No. City Treasurer. ~Section Z. Said City Clerk shall forthwith deliver said bonds to A. G. Raisch, or his assigns, and said City Treasurer is hereby directed to pay to said A. G. Raisch, or his assigns, out of the money heretofore paid upon assessments hereinbefore mentioned, the sum of Seven Hundred and Thirty-five and 70/100 Dollars($7~5.70). I hereby certify that the foregoing resolution was regularly in- troduced, and adopted by the City Council of the City of South San Francisco, this 18th day of August, 19ZO, by the following note: Ayes, Councilmen V. Boido, R. Lloyd, M. Minuccian$, R. Tibbetts, Jos. P. Quinlan Noes, Councilmen None Absent, Councilmen None ( S AZ ) Attest: Daniel MCSweeney City Clerk.