HomeMy WebLinkAboutReso 1332-1948262
RESOLUTION NO. 1332
ORDER PROVIDING FOR THE ISSUANCE OF STREET
ROVEMENT BONDS,. PRESCRIBING THE DENOM/NA-
TIONS OF SUCH BONDS AND THE INTEREST COUPONS~
A.TTACHED.
WHEREAS the City Council of the City of South San Francisco did, on the loth day of February, 1947,
pass its resolution of intention No. 1189 for the improvement of certain streets in said resolution of intention
mentioned and described, under and 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 the description of said WOrk and
in' said resolution of intention described and for further particulars; and
WHEREAS the contract for said ~ork for said ~improvements was duly awarded to L.C, .S~ITH, and thereafter
was duly completed to the satisfaction of the Superintendent of Streets of said City, whereupon a diagram and assess-
ment were made; and
WHEREAS, after a due notice of the filing of said assessment was given, as provided by law, the said
assessment, was, on the 27th day of October, 1947, confirmed by the City Council of the City of South San Francisco
and a warrant thereupon was attached thereto by said Superintendent of Streets after said diagram, assessment, and
warrast were 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 returned to said Superintendent of Streets with the written
statement of the amount agreed upon said assessment shown thereon, ~hich statement was signed by said contractor and
was thereupon filed by said Superintendent of Streets; and
WHEREAS, on the 2nd day of March, 194B, said Superintendent of Streets filed with the Clerk of said City
Council a complete list of all assessments unpaid under said assessment upon respective assessment or diagram numbers
thereon, whereupon said City Clerk duly gave notice of the filing of said list, having fixed the 5th day of April, 1948,
at the hour of 8:00 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 unpaid assessments shown upon said assessment list, said time being
that of a regm~ar 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 said city clerk, that said notice was posted as required by
law; and it likewise appearing from the affidavit of Myra R. Spangler, now file in the office of the City Clerk that said
notice was p~blished as required by law; and
WHEREAS, no person has at any time made any objection against the issuance of bonds, it is hereby determined
that the assessments unpaid and the aggregate amount of the same are as follows:
DIAGRAM AND ASSESSMENT NO.
AMOUNT OF UNPAID ASSESSMENT
3 692.13
4 648.66
5 485.7O
6 485.70
7 ~85.70
8 485.70
9 485.70
12 2g2.85
13 1948.77
14 2075.05
15 19&2.82
The total aggregate amount of such sums unpaid is Nine Thousand None Hundred and Seventy-eight and 78/100
Dollars ($9,978.78). '
NOW, THEREFORE, in consideration of the premises, the City Council of the City of South San Francisco
does order as follows:
Section 1. Said bonds be issued upon the security of the unpaid assessments in the amount of Nine Thousand
Nine Hundred and Seventy-eight and 78/100 Dollars ($9,978.78) in accordance with the provisions of said "Improvement Bond
Act of 191t", and the amendments thereto, and of the "Improvement Bond Act of 1915", and the amendments thereto, under and
pursuant to the resolutions, notices and proceedings duly adopted and taken by said City Council. Said bonds shall be
called "Improvement Bonds" and shall be dated April 5, 19~8 and bear interest at the rate of five (5%) per cent per annum
commencing on the 9th day of December, 1948, and shall be ten (10) in number and should b~ in the following denominations:
DENOMI- DATE OF DENOMINATIONS OF DENOMINATION OF SEMI-
BOND N~BERS SERIES NATION MATURITY COUPONS JAN. 2. 1949
I 1~-1 $1OOO.OO~ 7/2/49 $53.06 $25.00
2 ~ ~-1 995.75 7/2/49 52.82 24~89
3 W-1 1000.00 7/2/50 53.06 25.00
4 W-1 995.75 7/2/50 52.82 2£.89
5 W-1 1000.00 7/2/51 53.00 25.00
6 W-1 995.75 7/2/51 52.82 24.89
7 'N-1 1000.O0 7/2/52 53.06 25.00
8 ~-1 995.75 7~2/52 52.82 24.89
9 ~-1 lOOO.O0 7/2/53 53.06 25.00
10 ;¥-1 995.75 7/2/53 52.82 24,89
W~IEREAS, on ~;i~e 2nd ~'of'~h,~:~'l:9~; ~S~d ~p~r~rlt;endent: ~f' ~t~ie~;s f~:Xt~'~i~;l~ %he ulerk ~of ~lL~d
Council a complete list of all assessments un$mid under said assessment upon respective assessment or diagram numbers
thereon, whereupon said City Clerk duly gave notice of the filing of said list, having fixed the 5th day of April, 19&$,
at the hour of 8:00 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 unpaid assessments shown upon said assessment list, said time being
that of a 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 said city clerk, that said notice was posted as required by
law; and it likewise appearing from the affidavit of Myra R. Spangler, now file in the office of the City Clerk that said
notice was p~blished as required by law; and
WHEREAS, no person has at any time made any objection against the issuance of bonds, it is hereby determined
that the assessments unpaid and the aggregate amount of the same are as follows=
DIAGRAM AND ASSESSMENT NO,
AMOUNT OF UNPAID ASSESSMENT
3 692.13
& 628.66
5 285.70
6 285.70
7 ~5.70
8 285.70
9 285.7O
12 222.85
13 19&8.77
l& 2075.05
15 1922.82
The total aggregate amount of such sums unpaid is Nine Thousand None ~undred and Seventy-eight and 78/100
Dollars ($9,978.78).
NOW, THEREFORE, in consideration of the premises, the City Council of the City of South San Francisco
does order as follows:
Section 1. Said bonds be issued upon the security of the unpaid assessments in the amount of Nine Thousand
Nine Hundred and Seventy-eight and 78/100 Dollars ($9,978.78) in accordance with the provisions of said "Improvement Bond
Act of 191t", and the amendments thereto, and of the "Improvement Bond Act of 1915", and the amendments thereto, under and
pursuant to the resolutions, notices and proceedings duly adopted and taken by said City Council. Said bonds shall be
called "Improvement Bonds" and shall be dated April 5, 1928 and bear interest at the rate of five (5%) per cent per annum
commencing on the 9th day of December, 1928, and shall be ten (10) in number and should b~ in the following denominations:
DENOMI- DATE OF DENOMINATIONS OF DENOMINATION OF SEMI-
BOND ~BERS SERIES NATION MATURITY COUPONS JAN. 2. 1929
I w-1 $1000.00: 7/2A9 $53.06 25.00
2 .'W_i 995.75 7/2~29 52.82 22~89
3 W-1 1000.00 7/2/50 53.06 25.00
2 W-1 995.75 7/2/50 52.82 2~.89
5 W-1 1000.00 7/2/51 53.00 25.00
6 W-1 995.75 7/2/51 52.82 23,.89
7 W-1 1000.OO 7/2/52 53.06 25.00
8 W-1 995.75 7~2~52 52.82 22.89
9 t¥-i 10OO.00 7/2/53 53.06 25.00
10 .~-1 995.75 7/2/53 52.82 22~89
Section 2. Said bonds will be issued in annual series and the unpaid assessments, as determined by said
City Council, togethe? 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 payable 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 the date of maturity of each of the several series of bSnds, 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 property are payable, and shall become
delinquent at the same time and in the same proportionate amounts and bear the same proportionate penslties for delinquency
Said bond~ shall be signed by the treasurer of the City of South San Francisco and countersigned by the clerk, who shall
affix the official seal of said city. The interest coupons affixed thereto shall bear the engraved or printed or litho-r~r
graphed 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 interest 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 $
The City of South San Francisco, California, will pay the bearer hereof, on the second day of
19 , $ at the office of the ~ity Treasurer, said sum being the semi-annual interest due on
Improvement Bond No. . Series No. W.
City Treasurer'
Section 3. Said City Clerk shall forthwith deliver said bonds to said L. C. Smith, in satis-
faction of the balance due him upon his assessment and warrent.
I hereby certify that the foregoing resolution was regularly introduced and adopted by the City
Council of the City of South San Francisco this 5th day of April, 19A8, by the following vote:
Ayes,
Noes,
Absent,
Councilman Chas. K. Elder, Leo Ferko, Adolph Sani, Emilio Cortesi.
Councilmen None
Councilman G. W. Holston
Attest:
DANIEL J. HYLAND,
City Clerk
Said City Council does hereby determine and declare that said proposed work ant lmprov~menb
'--- ---~: ....... ~4. ~..~4, .~ All .e~.~. ~n~ h~n.~ft the lands and district hereinafter