HomeMy WebLinkAboutReso 1298-1948RESOLUTION NO. 1298
A RESOLUTION $IRECTING AND PROVIDING FOR THE INCURRING OF
BO~"DED INDEBTEDNESS OF THE CITY OF SOUTH SAN FRANCISCO, A
~3NICIPAL CORPORATION, IN THE COUNTY OF SAN MATEO,STATE OF
CALIFORNIA, IN THE SU~ OF THREE HUNDRED SIXTi~-FIVE THOUSAND
DOLLARS ($365,000~jOO),LAW~.~ MONEY OF THE UNITED STATES OF
A~EE2CA TO PAY THE COST OF CERTAIN MUNICIPAL IMPROVD~ENTS
IN AND FOR SAID CITY OF SOUTM SAN FRANCISCO, AUTHORIZED AT
A SPECIAL ELECTION HE~D IN SAID CITY ON THE 16th DAY OF
SEETRUBER, 19&7, AND PROVIDING FOR THE ISSUANCE OF BONDS
EVIDENCING SUCH INDEBTEDNESS, SPECIFYING THE FORM OF SAID
BONDS, AND PROVIDING FOR A TAX LEVY FOR THE PA~T THERE-
OF AND CREATING A M~3NICIPAL IMPROVD~NT BOND SINKING FUND.
~IEREAS the City of South San Francisco is a~mn~icipal corporation, incorporated under the laws of
the State of California, and the legislative branch of said City of South San Francisco is designated as the City
Council of the City of South San Francisco and consists of five (5) members and the mayor of Said city is the ,
executive of said municipality; and
WHEREAS the legislative branch of said City of South San Francisco, a municipal corporation within
the Counby of San Mateo, State of California, the City Council of said city, did, on the 7th day of August, 19A7,
by an affirmative vote of more than two-thirds (2/3) of all its members, to wit, four (&) members of said
legislative branch, determine in due and proper form, by resolution, that public interest and necessity demand the
acquisition, construction and completion of a certain municipal improvement in and for said City of South San
Francisco, to wit: the acquisition, construction and comptetion of a central police station and the ac~xisition
of the necessary furniture a~d equipment for the same; that the costs of said municipal improvement will be too
great to be paid out of the omii~ary annual income and revenue of said City of South San ?ra~cisco, and will, in
addition to the other expenditures of said City of South San Francisco, exceed the income and revenue provided
for in any one year; and
~EREAS said City Council of the City of South San Francisco did, on the 7th day of August, 19&7,
by an affirmative vote of more than two-thirds (2/3) of all its members, to wit, four (A) members of said City
Council, determine in due and proper form, by resolution, that public interest and necessity demand the
acquisition, construction and completion of a central fire department station in said city and a fire department
substation in the west of E1 Camino Real in said city, together with the lands, buildings, furniture and equipment
therefor, and an aerial service truck, a pumping engine and other fire f~ghting equipment, works, property,
structures and equipment for fire protection purposes of said City of South San Francisco; that the cost of said
municipal improvement will be too great to be paid out of the ordinary annual income and revenue of said City of
South San Francisco, and will, in addition to the other expenditures~of said City of South San Francisco, exceed
the income and revenue provided for in any one year; and
%%[EREAS said City Council of the City of South San Francisco did, on the 7th day of August, 19&7,
by an affirmative vote of more than two-thirds (2/3) of all its members, to wit, four (&) members of said City
Council, determine in due and proper form, by resolution, that public interest and necessity demand the acquisitio
construction and completion of three (3) recreation buildings and the acquisition of the necessary furniture and
equipment for said recreation buildings; that the cost of said municipal improvements will be too great to be paid
out of the ordinary annual income and revenue of said City of South San Francisco, and will, in addition to the
other exp~.n~itures of said City of South San Francisco, exceed the income and r~venue provided for in any one year
a~d
~5{EREAS the executive of said municipality, to wit, the mayor of said City of South San Francisco,
County of San Mateo, State of California, did, on the 7th day of August, 19&7, duly and regularly approve such
actions of said legislative branch and each of the resolutions hereinbefore mentioned; and
~NEREAS the cost of the acquisition, construction and completion of said central police station,
and the acquisition of necessary furniture and equipment for the same was determined to be One Hundred Fifty
Thousand Dollars ($150,0OO.00); and
WHEREAS the cost of the acquisition, construction,and completion of said central fire department ~
station in sai~ city and a fire department substation west of E1 Camino Real in said city, together with land,
buildings, furniture and equipment therefor, and an aerial service truck, a pumping engine and other fire fighting
equipment, works, property, structures and equipment for fire protection purposss of said City of South San
Francisco was determined to be Two Hundred Eighty Thousand Dollars ($280,000.00) and that the amount of money
which waid City of South San Francisco needs for the purposes mentioned in this paragraph is One Hundred Eighty-
Five Thousand Dollars ($185,000.00); and
%~EREAS the cost of the acquisition, construction and completion' of said three (3) recreation
buildings and the acquisition of the necessary furniture and equipment for said recreation buildings was de~ermine~
to be Seventy Thousand Doll, r~ (~0~000~ ~,~ ~ ~ ~m~,,~ ~¢ ~,~.~ o~ ~+.. ~ ~..~ ~-- ~ .... ~ ......
station an~d the acqutettio,
of the necessary furniture and equipment for the same; that the costs of said municipal improvement will be too
great to be paid out of the o~l%lary annual income and revenue of said City of South San Fra~cisco, and w~ll, in
addition to the other expenditures of said City of South San Francisco, exceed the income and revenue provided
for in any one year; and
~FREAS said City Council of the City of South San Francisco did, on the 7th day of August, 19&7
by an affirmative vote of more than two-thirds (2/3) of all its members, to wit, four (A) members of said City
Council, determine in due and proper form, by resolution, that public interest and necessity demand the
acquisition, construction and completion of a central fire department station in said city and a fire departmen!
substation in the west of E1 Camino Real in said city, together with the lands, buildings, furniture and equipm,
therefor, and an aerial service truck, a pumping engine and other fire fighting equioment, works, property,
structures and equipment for fire protection purposes of said City of South San Francisco; that the cost of sai~
municipal improvement will be too great to be paid out of the or~Linary annual income and revenue of said City o~
South San Francisco, and will, in addition to the other expenditures~of said City of South San Francisco, excee~
the income and revenue provided for in any one year; and
~LEREAS said City Council of the City of South San Francisco did, on the 7th day of August, 19&7.
by an affirmative vote of more than two-thirds (2/3) of all its members, to wit, four (&) members of said City
Council, determine in due and proper form, by resolution, that public interest and necessity demand the acquisit
construction and completion of three (3) recreation buildings and the acquisition of the necessary furniture ant
equipment for said recreation buildings; that the cost of said municipal improvements will be too great to be p~
out of the ordinary annual income and revenue of said City of South San Francisco, and will, in addition to the
other expenditures of said City of South San Francisco, exceed the income and r~venue provided for in any one y~
a~.d
~-%~EREAS the executive of said municipality, to wit, the mayor of said City of South San Francisc¢
County of San Mateo, State of California, did, on the 7th day of August, 19&7, duly and regularly approve such
actions of said legislative branch and each of the resolutions hereinbefore mentioned; and
%~EREAS the cost of the acquisition, construction and completion of said central police station,
and the acquisition of necessary furniture and equipment for the same was determined to be One Hundred Fifty
Thousand Dollars ($150,000.00); and
',~EREAS the cost of the acquisition, construction,and completion of said central fire department
station in sai& city and a fire department substation west of E1 Camino Real in said city, together with land,
buildings, furniture and equipment therefor, and an aerial service truck, a pumping engine and other fire fight~
equipment, works, property, structures and equiMaent for fire protection purposes of said City of South San
Francisco was determined to be Two Hnndred Eighty Thousand Dollars ($280,000.00) and that the amount of money
which waid City of South San Francisco needs for the purposes mentioned in this paragraph is One Hundred Eighty-
Five Thousand Dollars ($1~5,000.00); and
WHEREAS the cost of the acquisition, construction and completion~ of said three (3) recreation
buildings and the acquisition of the necessary furniture and equipment for said recreation buildings was de~ermi
to be Seventy Thousand Dollars ($70,000) and that the amount of money which said City of South San Francisco nee
for the purposes mentioned in this paragraph is the sum of Thirty Thousand Dollars ~$30,O00.O0); and
~HEREAS the indebtedness to be incurred to pay the cost of the acquisition, construction and com~
tion of said central police station and the acquisition of the necessary furniture and equipment for the same wi
be too great to be paid out of the Ordinary annual income and revenue of said City of South ~an Francisco, and ·
in addition to the other expenditures of said City of South San Francisco, exceed the income and revenue provide
for in any one year; and
Z~EAS the indebtedness to be incurred, to pay the amount of money needed by said City of South S
Francisco for the acquisition, construction and completion of a central fire department station in said city and
fire department substation wes~ of E1 Camino Real in said city, together with the lands, buildings, furniture an
equipment therefor, and an aerial service truck, a pumping engine and other fire fighting equipment,, works, prop
structures and equipment for fire protection purposes of said City of South San Francisco, and will, in addition
the other expenditures of said City of South San Francisco, exceed the income and revenue provided for in any on
year; and
WHEREAS the indebtedness to be incurred to pay the amount of money needed by said City of South S
Francisco for the acquistion, construction and completion of said three (3) recreation buildings and the acquisi
of the necessary furniture and equipment for said recreation buildings, as hereinbefore recited, will be too gre
to be paid out of the ordinary annual income and revenue of said City of South San Francisco and will, in additi
to the other expenditures of said City of South San Francisco, exceed the income and revenue provided for in any
year; and
'i'~EREAS the total assessed valuation of all the real and personal property within said City of So
San Francisco is the sum of $16,50&,675.00; and
WHEREAS the total indebtedness hitherto incurred for public improvements by said City of South Sa
Francisco, which now remains unpaid is the sum of $203,800.00; and
WHEREAS the entire indebtedness herein proposed to be incurred for all said municipal improvement.
hereinbefore mentioned will not, in the aggregate, exceed fifteen per cent (15%) of the assessed value of all th~
real and personal property in said City of South San Francisco; and
2~2 ~HEREAS, on the 25th day of August 19&7, the said legislative branch of said City of South San
Francisco did duly and regularly pass and adopt by a vote of more than two-thirds (2/3) of all the members thereof,
to-wit, four (&) members of said legislative branch, an ordinance munbered 267 calling a special election in the
City of South San Francisco, 0oun~y~of San Mateo, State of California, submitting to the qualified electors of
said City of South San Francisco, a municipal corporation, three (3) propositions to incur a bonded indebtedness
to ~ay the cost of certain municipal improvements and acquisitions in and for said city as follow~:
PROPOSITION NO, I
The proposition to incur a bonded indebtedness of $150,000.00 in lawful money of the United States
of America for the object and purpose of acquiring, constructing and completingby the City of South San Francisco,
a municipal corporation, a central police station and acquiring the necessary furniture and equipment for the same.
PROPOSITION NO. 2
The proposition to incur a bonded indebtedness of $185,000.00 in lawful money of the United States of
America for the object and purpose of acquiring, constructing and completing by the City of South San Francisco, a
municipal corporation, a central fire de~arZmeat station in said city and a fire department substation west of E1
Camino Real in said city, together with lands,buildings, furniture and e~uipment and an aerial service truck, a
pumping engine and other fire fighting equipment, works, property, structures and equipment for fire protection purposes
of said City of South San Francisco.
PROPOSITION NO. 3
The proposition to incur a bonded indebtedness of $30,000.00 in lawful money of the United States of
America for the object and prupose of acquiring, constructing and completing three (3) ~ecreation buildings and
acquiring the necessary furniture and other equipment for such recreation buildings.
AND '~tEREAS said ordinance mum~ered 267 was duly and regularly introduced at a regular meeting of said
City Council on the 18th day of August, 1947, and is hereby expressly referred to; and
. D~EAS said ordinance numbered 267 was thereafter, to-wit, on the 25th day of August, 19~7~ duly passed
and adopted by an affirmative vote of more than two-thi~ds (2/3) of all the members thereof, to-wit, four (4) members
of said City Council of said City of South San Francisco; and
WHEREAS said ordinance numbered 267 was thereafter, on the 26th dst of August, 1947, signed and approved
by the executive of said City of South San Francisco, towit, the mayor of said City of South San Francisco, and said
ordinance was thereafter duly published in all respects as required by law and by the term of said ordinance; and
~tEREAS on Tuesday, the 16th day of September, 19&7, said special election, as called and specified in
said ordinance numbered 267, was duly and reEularly held and 'conducted in all respects as required by law and by said
ordinance; and
~, at said special election said three (3) propositions for incurring a bonded indebtedness and
the issuing of bonds for said proposition as specified in said ordinance numbered 267, and hereinbefore mentioned,
were duly and regularly submitted to the qualified voters of said City of South San Francisco in all respects as
required by law and the provisions of said ordinance calling said special election; and
~'~EREAS, at said special election, more than two-thirds (2/3) of the qualified voters of said City of
South San Francisco voting at said special election, voted in favor of each of said propositions numbered 1, 2, and 3,
so submitted to the qualified electors, and accepted each of ssid propositions numbered 1, 2, and 3, and thereby
authorized issuing bonds for the indebtedness as provided for in each of said propositions numbered 1, 2, and 3, as
provided by said ordinance and by law; and
WHEREAS all the votes cast at said special election were duly and properly case and counted and the
returns thereof duly certified, made and canvassed; and
.~HEREA$ the whole number of votes cast and the whole number of voters voting at said special election
was two thousand five'hundred and twenty-nine (2,529); and
WHEREAS the whole number of voters voting and the whole number of votes cast and given in favor of
and accepting said propoSition No. I was sixteen ~ndred and seven (1607) and eight hundred and one (801) votes were
cast and given against said proposition No. l; and
~W{EREAS the whole
AND WHEREAS said ordinance mumbered 267 was duly and regularly introduced at a regular meeting of said
City Council on the 18th day of August, 19A7, and is hereby expressly referred to; and
~ WHEREAS said ordinance numbered 267 was thereafter, to-wit, on the 25th day of August, 19~7, duly passed
and adopted by an affirmative vote of more than two-thi~ds (2/3) of all the members thereof, to~wit~ four (~) members
of said City Council of said City of South San Francisco; and
~tEREAS said ordinance numbered 267 was thereafter, on the 26th dat of August, 1947, signed and approved
by the executive of said City of South San Francisco, towit, the mayor of said City of South San Francisco, and said
ordinance was thereafter duly published in all respects as required by law and by the term of said ordiHance; and
~KEREAS on Tuesday, the 16th day of September, 19~7, said special election, as called and specified in
said ordinance numbsred 267, was duly and regularly held and ~conducted in all respects as required by law and by said
ordinance; and
.WHEREAS, at said special election said three (3) propositions for incurring a bonded indebtedness and
the issuing of bonds for said proposi~ion as specified in said ordinance numbered 267, and hereinbefore mentioned,
were duly and regularly submitted to the qualified voters of said City of South San Francisco in all respects as
required by law and the provisions of said ordinance calling said special election; and
~_P~AS, at said special election, more than two-thirds (2/3) of the qualified voters of said City of
South San Francisco voting at said special election, voted in favor of each of said propositions numbered 1, 2, and 3,
so submitted to the qualified electors, and accepted each of ssid propositions numbered 1, 2, and 3, and thereby
authorized issuing bonds for the indebtedness as provided for in each of said propositions numbered 1, 2, and 9, as
provided by said ordinance and by law; and
~H~EAS all the votes cast at said special election were duly and properly case and counted and the
returns thereof duly certified, made and canvassed; and
'WHEREAS the whole number of votes cast and the whole number of voters voting at said special election
was two thousand five'hundred and twenty-nine (2,529); and
~KEREAS the whole number of voters voting and the whole number of votes cast and g~ven in favor of
and accepting said proposition No. 1 was sixteen ~ndred and seven (1607) and eight hundred and one (801) votes were
cast and given against said proposition No.. 1; and
~EREAS the whole number of voters voting and the whole number of Motes cast and given in favor of
snd accepting said proposition No. 2 was nineteen hundred and sixty-two (1962) and five hundred and 'twenty-eight (528)
votes were cast and given against said proposition No. 2; and
WHEREAS the whole number of voters voting and the whole number of votes cast and given in favor of and
accepting said proposition No. 3 was seventeen hundred and ninety-seven (1797) and six hundred and seventy-eight ($78)
votes were cast and given against said proposition No. 3; and
WHEREAS each of said propositions Nos. 1, 2, and 3, has been duly accepted by the qualified voters of
said City of South San Francisco and said City of South SanFrancisco has been, and now is, authorized and empbwered
to incur the aforesaid bonded indebtedness mentioned in each of said propositions Nos. 1, 2, and 3, and the whole
thereof; and
~tEREAS it is provided in said Ordinance No. 267 that, it at said special election two-thirds (2/3) of
all the voters voting at said special election vote in favor of incurring said bonded indebtedness of One Hundred
Fifty Thousand Dollars ($150,000.00) for the prupose stated in said proposition No. 1, in Section Vi of said ordinance
numbered 267, bonds shall be authorized to be issued in the amount of One Hundred Fifty Thousand Dollars ($150,000.00)
for the ~rpose aforesaid; and
~W~ERE~ it is provided in said Ordinance No. 267 that, if at said special election two-thirds (2/3) of
all the voters voting at said special election vote in favor of incurring said bonded indebtedness of Bne Hundred
Eighty-Five Thousand Dollars ($185,000.00) for the prupose stated in said proposition No. 2, ~ ~Sec~tien VI of said
ordinance numbered 267, bonds shall be authorized to be issued in the amount of One Hundred Eighty-~ive Thousand Dollars
($185,000.00) for the purpose aforesaid; and
W~EREAS it is provided in said Ordinance No. 267 that if at said special election two-thirds (2/3) of
all voters voting at said special election vote in favor of incurring said bonded indebtedness of Thirty Thousand
Dollars ($30,000.00) for the purpose stated in said proposition No. 3, in Section VI of said ordinance numbered 267
bonds shall be authorized to be issued in the amount of Thirty Thousand Dollars ($30,000.00) for the purpose aforesaid;
and
WHEREAS it is provided in said ~rdinance No. 267 that said bonds shall be paid for as hereinafter prov-
ided, to wit:
The bonds authorized to be issued pursuant to said election shall bear interest from the date of the~'~
issuance until paid at the rate of interest ~hich shall be determined when they will be off~re~ for sale, said interest
to be payable semi-annually, and the principal and interest of said bonds shall be ~pyable in lawful money of the United
States of America in the following manner, that iS to say: Not less than one-thirtieth (1/305 part of the whole amoun~
of the principal of said indebtedness created under 'any one (1), or any two (2) or all three (3) propositions
hereinbefore set forth in subdivisions (a),~b), and (c) of Section VI of said Ordinance No. 267 shall be oaic
each and every year at the City Treasury of said City of South San~ Francisco on the day or date to be fixed-by
the legislative branch of said municipality, together with the imteresbon all sums unpaid at such date, provid.
that the interest on such bonds shall be paid semi-annually so that there shall be a payment of interest on al~
sums then unpaid in each and every ~alf year, one of such semi-anhual payments being at the date of the payment
of the annual installments of the principal of such indebtedness, as aforesaid; and
WHEREAS it was further provided in said Ordinance No. 267 that such interest shall be evidenced
by proper coupons attached to said bonds, a separate coupon being attached to each bond for each semi-annual
payment of the interest to become due on such bonds; and that the total indebtedness authorized to be created
at said special election shall be represented by bonds payable in the manner aforesaid, and that such bonds
shall be issued in such denominations as the legislative branch of said City of South San ~ancisco ms.y deter~
except that no bond shall be of a less denomination than One Hundred Dollars ($100.OO) nor of a greater denomil
tion than One Thousand Dollars ($1,O00.00) and that said bond~ shail be known as Municipal Improvem~ent Bonds,
Series 19~7.
NO'~, therefore, resolved by the City Council of the City of South San Francisco, a municipal
corporation in the County of San Mateo, State of California, as follows:
Section 1. That, in accordance with the will of the voters expressed at said special election
held on the 16th day of September', 19&7, and ~n accordance with said Ordinance No. 267, regularly passed and a.
ed on the 25th day of August, 19~7, by the City Council of the City of South San Francisco, County of San Mate
State of California, as aforesaid, and in compliance with the laws of the State of California, bonds of the Ci
of South San Francisco in the sum of Three Hundred Sixty-Five ~housand Dollars ($365,000.00) be issued in acco
ance with the provisions of an act of the Legislature of the State of California entitled: "An act authorizin
incurring of indebtedness by cities, towns and municipal corporations for municipal improvements an4 regulatin
the acquisition, construction, or completion thereof", which became law February 25, 1901, and all acts amenda
thereof, for the purpose of paying the cost of the following public municipal improvement, to wit:
FIRST~ One Hundred Fifty Thousand Dollars ($150,0OO.00) thereof for the acquisition, construct
and completion of a central police station and the acquisition of the necessary furnit~me and equipment for th
samee
SECOND. One Hundred Eighty-Five Thousand Dollars ($185,000.00) thereof for the acq,~isition, co
struction and completion of a central fire department station in said city and a fire depar~msmt substation we
of E1 Camino Real i~ said City, together with lands, buildings, furniture and e~i~ment therefor, and an aeria
service truck, a pumping engine and other fire fighting equipment, works, property, structures and equipment f
fire protection ~rposes of said City of South San Francisco;
Section 2. Said bonds shall be negotiable in form and shall be three hundred sixty-five (365)
in ~umber; they shall be numbered consecutively from one (1) to three hundred sixty-f~.ve (365), both numbers
inclusively, and' shall be of the denomination of One Thousand Dollars ($1,000.00) each; all said bonds shall b
payable in lawful money of the ~nited States of America at the office of the City Treasury of said City of So~
San Francisco, County of San Mateo, State of California.
Said bonds shall be dated as of the 15th day of December, 19&7, and shall bear interest from th
date until paid which rabe of interest shall be determined when they will be offered for sale. Said rate of
interest shall not exceed four (&) per cent per annum, and shall be payable semi-annually on June 15 and Decem
15 in each year in lawful money of the United States of America at the office of the City Treasurer of said Cd
of South San Francisco, County of San Mateo, State of California.
~aid bonds shall mature and become payable in consecutive numerical order from lower to higher
follows: $15,000.00 principal amount of December 15 in each of the years 19&8 to 1970, both inclusive, aad
$20,000.00 principal amount of December 15, 1971.
Attached to saidbonds shall be interest coupons, referring to the number of the bond to which
they are attached, which coupons shall represent the semi-annual interest on said bond to which they are atta¢
and the number of ~oupons attached to the bond shall be equal to twice the number of years the bond has to ru~
fore due. Each of said coupons shall represent interest on said bond, to which it is attached, for the perio~
of six (6) months Lmmediately preceding the date of the maturity of said coupon. The said interest coupons s~
be payable at the office of the City Treasury of the City of South San Francisco, County of San Mateo, Otate ¢
California. Said bonds shall be signed by the mayor of said Cityof South San Francisco, who is the executiv~
of said legislative branch, and shall be signed by,the treasurer of said City of South San Francisco, and sha]
also be countersigned by the clerk of said City of South San Francisco, and said bonds shall have affixed the~
the corporate seal of said corporation, to-wit: the said City 6f South San Francisco. The interest coupons ¢
said bonds shall be numbered consecutively and signed by the Treasurer of Said City of South San Francisco.
held On the 16th day of S~emb~', i9~ and in accordance wi~ ~id'~nanc~ ~o~-267, regularly Passed and adc
ed on the 25th day of August, 19d7, by the City Council of the City of South San Francisco, County of San ~ateo,
State of California, as aforesaid, and in compliance with the laws of the State of California, bonds of the City
of South San Francisco in the sum of Three Hundred Sixty-Five Thousand Dollars ($B65,000.00) be issued in accord
ance with the provisions of anact of the Legislature of the State of California entitled: "An act authorizing
incurring of indebtedness by cities, towns and municipal corporations for municipal improvements an~ regulating
the acquisition, construction, or completion thereof", which became law February 25, 1901, and all acts amendatc
thereof, for the purpose of paying the cost of the following public municipal improvement, to wit:
FIRST~ One Hundred Fifty Thousand Dollars ($150,000.00) thereof for the acquisition, constructic
and completion of a central police station and the acquisition of the necessary furniture and equipment for the
sable ·
SECOND. One Hun4red Eighty-Five Thousand Dollars ($185,000.00) thereof for the acquisition, con-
structlon and completion of a central fire department station in said city and a fire depar~ment substation west
of E1 Camtno Real i~ said City, together with lands, buildings, furniture and e~ipment therefor, and an aerial
service truck, a pumping engine and other fire fighting equipment, works, property, structures and equipment fo~
fire protection ~]rposes of said City of South San Francisco;
Section 2. Said bonds shall be negotiable in form and shall be three hundred sixty-five (365)
in number; they shall be numbered consecutively from one (1) to three hundred sixty-f~ve (365), both numbers
inclusively, and shall be of the denomination of One Thousand Dollars ($1,000.00) each; all said bonds shall be
payable in lawful money of the ~nited States of America at the office of the City Treasury of said City of Sout~
San Francisco, County of San Mateo, State of California.
Said bonds shall be dated as of the 15th day of December, 19&7, and shall bear interest from the~
date ~mtil paid which rate of interest shall be determined when they will be offered for sale. Said rate of
interest shall not exceed four (L) per cent per annum, and shall be payable semi-annually on June 15 and Decembe
15 in each year in lawful money of the United States of America at the office of the City Treasurer of said Cit2
of South San Francisco, County of San Mateo~ State of California.
~aid bonds shall mature and become payable in consecutive numerical order from lower to higher as
follows: $15,000.00 principal amount of December 15 in each of the years 19~8 to 1970, both inclusive, and
$20,000.00 principal amount of December 15, 1971.
Attached to saidbonds shall be interest couposs, referring to the number of the bond to which
they are attached, which coupons shall represent the semi-annual interest on said bond to which they are attache
and the n~ber of ~oupons attached to the bond shall be equal to twice the number of years the bond has to run b
fore due. Each of said coupons shall represent interest on said bond, to which it is attached, for the oeriod
of six (6) months Lmmediately preceding the date of the maturity of said coupon. The said interest coupons sha]
be payable at the office of the City Treasury of the City of South San Francisco, County of San Mateo,S+ tate of
California. Said bonds shall be signed by the mayor of said Cityof South San Francisco, who is the executive
of said legislative branch, and shall be signed by.the treasurer of said City of South San Francisco, and shall
also be countersigned by the clerk of said City of South San Francisco, and said bonds shall have affixed theret
the corporate seal of said corporation, to-wit: the said City 6f South San Francisco. The interest coupons of
said bonds shall be numbered consecutively and signed by the Treasurer of Said City of South San Francisco.
Said bonds of sai~ City of ~outh San Francisco shall be substantially in the following form and
contain substantially the following recitals, otc-wit:
UNITED STATES OF A~RICA
STATE OF CALIFORNIA, COUNTY OF
SAN MATEO, CITY OF~ SOUTH
SAN FRANCISCO.
MUNICIPAL IMPROVIDENT BOND, SERIES 19&7
No. $
KNOW ALL MEN BY THESE PRESENT:
That the City of South San Francisco, in the County of San Mateo, State ~f California, is indebte
to and promises to pay to the bearer the sum of ONE THOUSAND DOLLARS ($1,000.O0), in lawful money of the United
States of America, on the day of , 19 , with interest thereon at the rate of
~ ~) per cent per annum, payable semi-annually on the day of
and on the day of of each year, until the principal sum
shall be paid, upon the presentation and surrender of the coupons hereto annexed and signed by the treasurer of
said City of South San Francisco· Both~principal and interest on this bond are and shall be payable at the off~
of the city-treasurer.of the City of South San Francisco, County of San Mateo, State of California, and all tax-
able real and personal property of said city is hereby irrevocably pledged for the prompt payment of this bond
and the interest thereon as the same matures.
This bond is one of a series of b~nds of li~e date, tenor and effect (except for such variations,
if any, as may be required to ~esignate varying m~m~ers, denominations, maturities or interest rates) issued by
said City of South San Francisco, for the purpose Of paying t~ costs and expenses 6f acquiring certain public
municipal improvements in and for said City of South San Francisco, by virtue of and in full compliance with an
act of the Legislature of the State of California entitled "An act authorizing the incurring of indebtedness by
cities, towns and municipal eorporations for. municipal improvements, and regulating the acquisition, constructi¢
or completion thereof", in effect February 25, 1901, and all acts amendatory thereof, and in strict conformity
with the Constitution and laws of the State of California.
2~4 And it is hereby certified, asserted and declared that this bond is issued by the authority of
more than two-thirds (2/3) vote of all the qualified voters of the Cityof South San Francisco, voting at a
special election for that purpose, duly called and held, and in pursuance of ordinances of the City of South
San Francisco duly passed, adopted and approved~
And it is hereby certified, recited and declared that provision has been duly made, and will
h~reafter be made in the manner provided by law, for the levy and collection of taxes annually; sufficient
to pay the interest upon this bond, and to discharge and redeem the principal thereof at maturity, and that all
other acts, conditions and things necessary to be done and to exist precedent to the making of said improve-
ments, and the levying of said tax, and in the issuance of this bond and others of the same series have Been
properly done, happened and perf6rmed, and do exist in regular and due form, time and manner, as required by the
constitution and laws of the State of California and the ordinances of the City of South San Francisco, and that
the total amount of bonds issued or other indebtedness incurred on account of said improvements does not exceed
any statutory or constitutional limitation.
IN ~TNESS '~4EREOF, said City of South San Francisc°, in the County of San Mateo, State of California
has caused the corporat~ seal of said City of South San Francisco to be hereunto affixed, and this bond to be
signed by the executive of said municipality, to wit: The Mayor of said City of South San Francisco, and by the
Treasurer thereof, and to be countersigned by the Clerk thereof, and the coupons hereunto annexed shall be signed by the
Treasurer of said City of South San Francisco, all as of the day of , 19~7.
(Seal of the
~City of South
~an Francisco)
Mayor of the City of South San Francisco
Treasurer of the City of South San ~rancisco
Countersigned by
Clerk of the City of South San Francisco
The interest coupons attached to paid bonds and evidencing the interest to accrue thereon, shall be
in substantially the followinK ~orm and contain substantially the following recitals, to-~it:
COUPON NIB~BER
The City of South San Francisco, in the County of San Mateo, in the State of California, will pay to
the bearer at the office of the Treasury of said City of South San Francisco, the sum of
Dollars ($ ) in lawful money of the United States of America, being the semi-
annual interest upon its municipal improvement bond dated , 19~ .... .
No,
Treasurer of the City of South.SanFrsncisco
And it is hereby ordered that the executive of said City of South San Francisco, to-wit: The May~r
of said ~ity of South San Francisco, be, and he is hereby ~xthorized to'sign each and every one of said bonds, as
aforesaid, as Mayor of said City of South San Francisco, and the Treasurer of said City of South San Francisco be,
and he is hereby authorized to sign each and every one of said bonds as the Treasurer of said City of South San
Francisco, and that the City Clerk of said City of South San Francisco be, and he is hereby authorized to counter-
sign each and every one of said bonus as City Clerk of said City of South San Francisco, and to affi~ the corpor-
ate seal of said City of South San Francisco to each and every one of said bonds; and that said signing.and sealing
shall constitute and~be a sufficient and binding execution of each and every one of said bonds by said City of South
Sa~ Francisco, and that the said Treasurer of the City of South San Francisco be, and h~,~is hereby authorized to sign
each and every one of the respective coupons attached to each respective bond as the Treasurer of said City of South
San Francisco, and that the said signing of said coupons by said Treasure shall constitute and be a sufficient and
binding execution of each and every one of said c~Apons by said City of South San Francisco.
And it is hereby further ordered that in ease any one of such officers, whose signatures, or countersigns-
(.Seal of the
~City of South
San Francisco)
Treasurer of the City of South San ~rancisco
Countersigned by
Clerk of the City of SOuth San Francisco
The interest coupons attached to paid bonds and evidencing the interest to accrue thereon, shall be
in substantially the following ~orm and contain substantially the following recitals, to-~it:
COUPON NUMBER
The City of South San Francisco, in the County of San Mateo, in the State of California, will pay to
the bearer at the office of the Treasury of said City of South San Francisco, the sum of
Dollars ($ ) in lawful money of the United States of America, being the semi-
annual interest upon its municipal improvement bond dated , 19A .... ·
No,
Treasurer of the City of South .San Francisco
And it is hereby ordered that the executive of said City of South San Francisco, to-wit: The May~r
of said City of South San Francisco, be, and he is hereby m~thorized to'sign each and every one of said bonds, as
aforesaid, as Mayor of said City of South San Francisco, and the Treasurer of said City of South San Francisco be,
and he is hereby auShorized to sign each and every one of said bonds as theTreasurer of said City of South San
Francisco, and that the City Clerk of said City of South San Francisco be, and he is hereby authorized to counter-
sign each and every one of said bonus as City Clerk of said City of South San Francisco, and to affi~ the corpor-
ate seal of said City of South San Francisco to each and every one of said bonds; and that said signing.and sealing
shall constitute and~be a sufficient and binding execution of each and every one of said bonds by said City of South
San Francisco, and that the said Treasurer of the City of South San Francisco be' and b~eis hereby authorized to sign
each and every one of the respective coupons attached to each respective bond as the Treasurer of said City of South
San Francisco, and that the said signing of said coupons by said Treasure shall constitute and be a sufficient and
binding execution of each and every one of said cbupons by said City of South San. Francisco.
And it is hereby further ordered that in ease any one of such officers, whose signatures or countersigna-
tures appear on the bonds or coupons, shall cease to be such officer before the delivery of such bonds to the pur-
chase~, such signatures of countersignatures shall, nevertheless, be valid and sufficient ~or all purPoses the same
as if they had remained in office until the delivery of such bonds.
Section 3. And it is further ordered that there shall be levied and collected each and every year
upon all property subject to taxation by said City of South San Francisco a tax sufficient to pay all the interest
on said bonded indebtedness, as said interest falls due, and also sufficient to pay all the interest on said bonded
indebtedness, as said interest falls due, and also sufficient to pay all bonds which mature each and every year and
sufficient to pay all bonds which mature each and every year and sufficient to pay the whole amount of principal and
interest of said indebtedness on or before ~aturity. Said City CounCil hereby mades provision for the levying and~
collecting of all sums that shakl or may be necessary to pay in full all of the interest and principal of said bonded
indebtedness is the same shall fall due, and hereby contracts and agrees, represents and promises, that such levy
shall be made, as aforesaid, in case the said bonds shall be issued, as aforesaid, insofar as this 6ity Council of
the City of South San Francisco, acting in and for the City of South San Francisco, has power now to ma~e said levy,
does hereby made the same.
Section d. And it is hereby further ordered that said bonds be printed or ~ithographed and said City
Clerk be, and he is hereby authorized and directed to have said bonds properly printed or lithographed and that, when
the same are properly printed or lithographed, said bonds shall then be duly signed by the Mayer of the City of South
San Francisco, and signed by the Treasurer of said City of South San Francisco, and also countersigned by the Clerk
of the City of South San Francisco, as here%nab~ve stated, and that, in lieu of actual signing of the coupons by the
Treasur~of the Eity of South San Francisco, the name of said Treasurer of the City of South San Francisco be print-
ed or lithographed od said coupons to be attached to each of said bonds, and that said printing or lithographing
shall be taken to be the act and deed of the Treasurer of said City of South San Francisco.
Section 5. There are hereby created and estshlished.the~following special funds, to be kept by the
Treasurer of the City of South San Francisco, as follows, to wit: (1) Central Police Station Fund, into which shall
be deposited from the proceeds of the sale of said bonds the sum of $155,O00; (2) Fire Protection ~md, into which
shall be deposited from the proceeds of the sale of said bonds the sum of $185,000; and (3) Recreation Fund, into
which shall be deposited from the proceeds of the sale of said bonds the sum of $30,000.
Any premium received on the sale of said bonds shall be applied prorata to said funds in the same
proportion as the a~ount to be deposited to each bears to the aggregate of $365,000.
In addition to the foregoing, there is ~ereby created City of South San Francisco 19A7 Bond Interest
and Sinking Fund, into which shall be ~sited al! taxes collected fOr the payment of principal and interest on
said bonds, together with any accrued interest received on the sale of said bonds.
I hereby ~ertify that the foregoing resolution was regularly introduced and adopted at a regula~
meeting of the City Council of the City of South San Francisco, this 19th day of January, 19&8, by the followi~
vote:
Ayes, Councilmen G. W. Holstom, Chas. K. Elder, Leo Ferko, Adolph Sani, Emilio Cortesi
Noes, Councilmen None
Absent, Councilmen None
(SEA )
DANIEL J. HYLAND
City Clerk