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HomeMy WebLinkAboutReso 1213-1947160 RESOLUTION NO. 121~ AN ORDER PROIrIDING FOR THE ISSUANCE OF STREET IMPROVEMENT BONDS, PRESCRIBING THE DENOMINATIONS OF SUCH BONDS AND THE INTEREST COUPONS ATTACH-ED. WHEREAS the City Council of the City of SOUth San Francisco did, on the 22nd day of ~ugust, 19~5, pass its resolution of intention No. 10~3 for the improvement of certain streets in ~aid resolution of intention men- tioned and described, under the pursuant to the provisions of the "Improvement Act of 1911", and the amendments thereto, reference to said resolution of intention being hereby expressly made for adescriptiqn of said work and the district in said resolution of intention described and for further particulars; and ~WHEREAS the contract for said work of imProvements was duly awarded to L. C. Smith, and thereafter was du~y completed to the satisfaction of the superintendent of streets of said city, whereupon a diagram and assess- ment were duly made; and ~EREAS, aider due notice of the filing of said' assessment Was given, as provided by law, and said assessment was, on the 8th day of March, 19~?, confirmed by the City Council of said City of South San Francisco and a warrant thereupon was attached thereto by said superintendent of streets and thereafte~ said diagram, assessment and warrant were duly recorded by said superintendent of streets and then delivered to the contractor in the time, form and manner required by said act; and said warrant having been duly returned to said superintend- ent of streets with the written statement of the amount paid upon said assessmentshown thereon, which statement was signed by said contractor and was thereupon refiledby said superintendent of streets; and WHEREAS, on the let day of May, 19&7, said superintendent of streets filed with the clerk of said City Council a complete list of all assessments unpaid under said assessment upon the respdctive assessment or diagram numbers thereon, whereupon said City Clerk duly gave notice of the filing of said list, having fixed Monday, the 19th day of May, 19~7, at the hour of 8 o'clock p.m., as the time when interested persons may appear before s.aid 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 the regular meeting of said City Council; and it appearing from the affidavit of Daniel J. Hyland, city clerk of said city, which affidavit is now on file in the office of the said city clerk, that said notice was posted as required by law; and it likewise appearing from the affidavit of MFra R. Spangler now on file in the office of the city clerk amd said notice was published as required by law; and ~EREAS said city clerk did, on the 3rd day of May, 19&7, mail a copy of said notice to the owners of all lots listed on said assessment, as known to said city clerk, as appears by the affidavit of said Daniel J. Hyland, on 'file herein; and WHEREAS said L. C. Smith' has, by an instrUmentin writing, on file in the office of said city clerk, signed and transferred said warrant to-Hannford & Talbot; and WHEREAS no person has at any time made any objection against the issuance of bonds, it is hereby degermined that the assessments unpaid and the aggregate amount of the same are as follows: DIAGRAM AND \ AMOUNT OFi DIAGRAM AND AMOL~NT OF ASSESSMENT NUMBER ~ 1~ 969 ~9 56 450 72 ~ 747 58 57 ~$0 72 8 747 58 58 534 06 4 480 72 59 534 06 5 480 72 60 480 6 480 72 7 480 ~2 62 480 8 480 72 6~ 480 72 9 480 ~Z 64 480 TO 534 06 65 480 ~ 534 06 66 ~80 ~2 480 72 67 480 ~4 480 72 68 554 06 ~5 480 ~2 69 ~80 16 480 72 70 534 06 17 480 72 71 480 72 ~8 480 72 72 480 72 19 480 72 73 480 72 20 480 72 74 480 72 21 aSO 72 75 aSO 22 480 72 76 480 72 23 tSO 72 77 480 72 24 480 72 78 480 72 25 480 72 79 480 72 26 480 72 80 dSO 72 27 480 72 81 480 72 / Council a complete list of all assessments unpaid under said assessment upon the respective assessment or diagram numbers thereon, whereupon said City Clerk duly gave notice of the filing of said list, having fixed Monday, the 19th day of May, 1927, at the hour of 8 o' clock p.m., as the time when interested persons may 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 the regular meeting of said City Council; and it appearing from the affidavit of Daniel J. Hyland, city clerk of said city, which affidavit is now on file in the office of the said city clerk, that said notice was posted as required by law; and it likewise appearing from the affidavit of M~ra R. Spangler now on file in the office of the city clerk amd said notice was published as required by law; and WHEREAS said city clerk did, on the 3rd day of May, 1927, mail a copy of said notice to the owners of all lots listed on said assessment, as known to said city clerk, as appears by the affidavit of said Daniel J. Hyland, on 'file herein; and '~EAS said L. C. Smith has, by an instrument in writing, on file in the office of said city clerk, signed and transferred said warrant to Hannford & Talbot; and WHEREAS no person has at any time made any objection against the issuance of bonds, it is hereby de~ermined that the assessments unpaid and the aggregate amount of the same are as follows: DIAGRAM AND ASSF~SME~T NI~BER ], 3 4 5 6 7 9 10 11 12 15 16 1'7 18 19 2O 21 22 2~ 25 26 2'7 28 29 ~0 ~7 ~8 39 4O 41 a2 45 46 48 49 52 5~ 55 AMOUNT OF~ 969 39 74 7 58 747 58 450 72 ~80 72 480 7~ ~80 7Z ~80 7~ 534 06 534 06 ~80 7~ ~80 7Z ~80 72 a80 7~ 480 72 480 72 480 72 480 72 480 72 480 72 4eo Vz ~80 72 ~80 72 ~80 72 ~80 72 ~80 72 ~80 72 480 72 480 72 480 72 480 72 480 72 480 22 480 72 480 72 480 72 48O 72 480 Vz 480 480 VZ 480 72 480 72 480 72 480 7~ 554 06 480 VZ 48O 7Z 48O SZ 48O 7Z 480 VZ DIAGRAM AND 56 57 58 59 60 61 63 64 65 66 67 68 69 ?0 71 ?Z 73 '74 '25 76 77 79 80 81 82 84 85 86 87 88 89 9O 91 92 95 96 98 O0 01 OZ 03 04 05 06 O? 08 09 AMOUNT OF ~NPAID ASSESSMENT 480 72 480 72 53 4 06 53 4 06 480 72 480 72 45 0 72 480 72 480 72 48 0 72 480 72 534. 06 480 72 534 06 480 72 480 72 48.0 72 480 72 480 72 480 72 480 72 480 72 4~0 72 ~$0 72 ~0 72 48 0 72 480 72 480 72 480 72 480 72 &80 72 480 72 Z3 4 06 480 72 2~ 0 72 ~$0 72 480. 72 ~80 72 480 72 ~80 V2 480 72 ~80 72 480 72 480 72 480 72 480 72 aSO 72 4EO 72 aSO 72 480 72 ~80 72 DIAGRAM AND ~ ~5 ~ ~6 ~ ~8 1 19 1 ~0 1 ,.2l ' I 22 1 2*5 I 24'- I 25 · 12{5 13.2'7 .1 28 m PAZD $ 534 534 06 480 72 480 72' 480 7.2 480 72 480 '72 480 '72 480 ,72 480 '72 480 '72 534 480 480 480 480 48O 480 DIAGRAM AND ASSE&~T N~MBER I 30 I .31 I ~2 I ~7 I ~8 I ~0 I ~1 I ~2 I 44 I 45 1 46 AMOUNT OF UNPAID ASSESSMENT 534 06 480 72 480 72 480 72 480 72 480 72 480 72 4.80 72 534 06 534 06 480 72 480 72 480 72 4'80 72 48 0 72 480 72 480 72 The total aggregate amount of such sums unpaid is Seventy-one Thousand Six Hundred Thirty-three and 57/10 Dollars ($71,633.57). Now, therefore, in consideration of the premises, the City Council of the City of South San Francisco doe ordain as follows: Section 1. That said bonds be'~ssued upon the securityof the unpaidassessments in the amount of Sevent one Thousant Six Hundred Thirty-three and 57/100 Dollars ($71,633.57)~ in accordance with the provisions of said "I provement Act of 1911", and the-ameadments thmeeto, and of the "Improvement Bond Act of 1915", and the amendments t to, under and pursuant to the resolutions, notices and proceedings duly adopted and taken by said City Council;.sai bonds shallbe called "IMPRO~T BONDS, and shall be dated, May 19, 1947, and bear interest at the rate of five per cent (5~ per annum, commencing on the 1st day of May, 1947, and shall be seventy-five (75)'in number and the following denond~nations: BOND NUM- DENOMI- BERS SERI~ NATIONS ]. V 1 000 O0 1 000 O0 2 V ~ 3 ~ 1 000 O0 4 V I OOO O0 5 V 775 57 6 v 1 oo0 O0 7 v I .000 O0 8 V I 000 O0 9 V I 000 O0 10 V 7'75 57 11 V 1 000 O0 12 V I 000 O0 13 V 1 000 O0 .14 V 1 000 O0 .15 V 77 5 57 16 V I 000 O0 17 V 1 000 O0 18 V 1 000 O0 19 V I 000 O0 20 V 77 5 57 21 V 1 000 O0 22 V I 000 O0 o'~ ,, 1 000 O0 DATE OF MATURITY July ap 1 9 48 ~ f*,,~19 48 " 19 48 " 19 48 " lg 48 " 19 49 " .1:9 49 " .19 49 " 19 49 " 19 49 " 19 50 ~ " 19 50 " 19 50 . 19 50 " 19 50 '" 19 51 " 19 51 " 1.9 51 " 19 51 " 19 51 " 19 52 " 19 52 " 19 52 DENOMINATIONS OF INTEREST 'COUPONS PAYABLE JANUARY 2. 1948 . 3'3 32 .. 33 32 33 3'2 33 32 '33 32 25 8'5 33 32 33 32 33 32 25 85 33 ~2 3~ 32 DENOMINATION OF SEMI- INTEREST COUPONS 25 O0 ~5 DO 25 O0 25 O0 19 38 25 O0 25 O0 ' " 25 O0 25 O0 19 38 25 O0 25 O0 '25 O0 25 O0 19'~8 25 O0 '2~ O0 25 O0 25 O0 19 ~8 25 O0 25 O0 25 O0 The total aggregate amount of such sums unpaid is Seventy-one ThoUsand Six Hundred Thirty-three and 57 Dollars ($71,633.57). Now, therefore, in consideration of the premises, the City Council of the City of South San Francisco ordain as follows= Section 1. That said bonds be{ssued upon the security of the unpaidassessments in the amount of Sev one Thousant Six Hundred Thirty-three and 57/100 Dollars ($71,633.57); in accordance with the provisions of said provement Act of 1911", and the~ame~dments thmeeto, and of the "Improvement Bond Act of 1915", and the amendment to, under and pursuant to the resolutions, notices and proceedings duly adopted and taken by said City Council;. bonds shall be called "IMPRO~T BONDS, and shall be dated, May 19, 1947, and bear interest at the rate of five per cent (5~ per annum, commencing on the 1st day of May, 1947, and shall seventy-five (75)'in number and the following denOminations: 2 5 6 7 8 9 lO 18 2O 22 23 24 25 26 28 29 50 36 5O DENO~I- SERIES NATIONS V I 000 O0 1 000 O0 V ~ V 1 000 O0 V 1000 O0 V 775 57 V 1 000 O0 V 1 .000 O0 V 1 000 O0 V 1 000 O0 %, 775 57 V 1 000 O0 V 1 000 O0 V 1 000 O0 V 1 000 O0 V 77 5 57 V 1 000 O0 V I 000 O0 V I 000 O0 V 1 000 O0 V 77 5 57 V 1 000 O0 V 1 000 O0 ¥ I 000 O0 V 1 000 O0 V 77 5 57 V 1 000 O0 V I 000 O0 V 1 000 O0 V 1 000 O0 V 77 5 57 V 1 000 O0 V 1 000 O0 V 1 000 O0 V 1 000 O0 V 775 57 V 1 000 O0 V 1 000 O0 V 1 000 O0 V 1 000 O0 V 7'75 57 V I 000 O0 V 1 000 O0 V 1 000 O0 V 1 000 O0 g 775 57 V 1 000 O0 V 1 000 O0 V I 000 O0 V I 000 O0 V ?75 57 DATE OF MATURITY DENOMINATIONS OF INTEREST 'COUPONS PAYABLE JANUARY 2. 1948 . 33 32 33 32 33 32 33 32 25 85 33 32 25 85 33 3'2 25 8'5 33' 32 33 32 33 32 25 85 25 85 33 32 33 32 33 32 33 32 25 85 33 32 33 32 25 85 33 32 33 32 33 32 25 85 33 32 33 32 33 32 25 85 33 32 25 85 DENOMINATION OF SEMI- INTEREST COUPONS 25 O0 z5 oO 25 O0 25 O0 25 O0 2'5 O0 25 O0 25 O0 19 38 25 O0 25 O0 '25 O0 25 O0 19'38 25 O0 '2~ O0 25 O0 25 O0 19 38 25 O0 25 O0 25 O0 25 O0 I9 38 25 O0 25 O0 25 O0 25 O0 19 25 O0 25 O0 25 O0 25 O0 19 38 25 O0 25 O0 25 O0 25 O0 19 38 25 O0 25 O0 25 O0 25 O0 19 38 25 O0 25 O0 25 O0 25 O0 19 38 BOND DENOMINATIONS, OF INTEREST DENOMINATIONS OF NUM- DENOMI- COUPONS PAYabLE JANUARY SEMI-ANNUAL BERS SERIES NATIONS DATE OF MATURITy 2. 19&8 INTEREST COUPONS 51 V 1 000 O0 July 2, 19 58 33 32 2§ O0 52 V 1 000 O0 " 19 58 33 32 25 O0 53 V :l. 000 O0 " 19 ~8 ~ 32 25 O0 54 V ~ 000 O0 " 19 58 ~ ~2 25 O0 55 V 775 57 " 19 58 25 85 I9 38 56 V 1 000 O0 . 19 59 ~ ~2 25 O0 57 ' V ~ 000 O0 ,, I9 59 33 ~2 Z5 O0 58 V 1 000. O0 . 19 59 33 3Z 25 O0 59 V 1 000:O0 . 19 59 33 ~2 25 O0 60 V 775 57 " 19 59 25 85 19 38 6~ V 1 000 O0 " 19 60 3~ ~2 25 O0 62 V 1 000 O0 " 19 60 33 ~2 25 O0 63 V 1 000 O0 " 19 60 3~ ~2 Z5 O0 64 V ~ 000 O0 " ~9 60 33 ~2 ~5 O0 65 V ~75 57 " 19 6~ ~5 85 ~9 ~8 '66 V ~ 000 O0 " i9 ~ ~ ~Z 25 O0 67 V 1 000 O0 " 19 6~ 33 ~2 ~5 O0 68 ~ 1 000 O0 " ~9 61 33 ~2 ~5 O0 69 V 1 000 O0 " 19 61 ~3 ~2 Z5 O0 70 V 775 57 " 19 61 25 85 I9 ~8 ~2 V ~ 000 O0 " 19 62 33 ~2 25 O0 73 V 1 000 O0 " 19 62 33 32 ~. 25 O0 Va V i 000 O0 " 19 62 33 ~2 .2~.00 ~5 V 775 57 " 19 62 25 85 19 ~8 Section 2. Said bonds will be issued in annmal series and the unpaid assessments, as determined by said City Council, together with the interest thereon, shall remain and constitute a trust fund for.the redemption and payment of said bonds and for the interest which.may, be due thereon, which unpaid assessments shall be parable in annual series corresponding in number to the number series of the bonds issued. An even annual proportion of each assessment shall be payable in each year preceding t~e date of maturity of each of the several series of bonds, .and such proportion 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 general municipal taxes of said City of South San Francisco on real pro- perty are payable, and shall become delinquent at the same time and in the same proportionate amounts and bear the same proportionate penalties for delinquency. Said bonds shall be signed by the treasurer of the City of South San Francisco and countersigned by the clerk, who shall aff~ the official seal of said city; the interest coupOns affixed thereto sbmll bear the engraved or printed or lithographed signature of the treasurer in place of his signature; said bonds shall be substantially in the form set forth in said "Improvement Bond Act of 1915", as amended. The interewt coupons attached to each of said bonds and evidencing the interest to accrue thereon shall be numbered consecutively and shall be substantially in the following form, to wit: COUPON NO. $ The City of South San Francisco, California, will pay the bearer hereof, on the second day of' 19 , $ at the office of the City Treasurer, said sum being the semi-annual interest due on Improvement Bond No. , Series No. V. City Treasurer. Section 3. Said City Clerk shall forthwith deliver said bonds to said Hannaford & Talbot' the assignees of said L. C. Smith, in satisfaction of the balance due him upon his assessment and warrant. I hereby certify ~at the foregoing resolution was regularly introduced and adopted by the City Council of tbs City of South San FranciscO, this 19th day of May, 19&7, by the following vote: Ayes, Councilmen G. W. Hols~on, Leo Ferko, Noes, None Absent, Councilmen Chas. K. Elder. Adolph Sani, Emilio Cortesi. ATTEST: SEAL DANIEL J. HYLAND City Clerk