HomeMy WebLinkAboutReso 1399-1948RESOLU~ION~ 1~0. 1399
AN ORDER PROVIDINO FOR THE ISSUANCE OF IMPROVEMENT BONDS, PRESCRIBING
THE DENOMINATION OF SUCH BONDS AND THE INTEREST COUPONS ATTACHED,
PURSUANT TO RESOLUTION OF INTENTION NO. 1246 ENTITLED: "A RESOLUTION
OF THE CITY COUNCIL OF THE CITY OF SOUTH SAN FRANCISCO DECLARING ITS
INTENTION TO IMPROVE WEST O~ AVEN~E BETWEEN THE SOUTH LINE OF
RAILROAD AEENUE AND THE SOUTH- SIDE OF THE SAN~,FRANCISCO MUNICIPAL RAIL-
WAY~', ADOPTED ON THE 7TH DAY OF AUGUST, 19&7.
WHEREAS the City Council of the City of South San Francisco did, on the 7th day of August, 19&7
pass its Resolution of Intention No. 12&6 for the improvement of the street in said Resolution of Intention
mentioned and described, under and p~rsuant to the provisions of the "Improvement Act of 1911", and the amend-
ments thereto, referenc~ to said Resolution of Intention being hereby expressly made for the description of
said work, and for further particulars; and ·
WHEREAS the contract for said work and improvements was ~ntered into by L. C. Smith, as contracto~
and Henry L. Schweining, as superintendent of streets of said city, and thereafter was completed to the satisfac!
of said superintendent of streets, whereupon a diagram and assessment were made; and
WHEREAS, after notice of filing the assessment was given, as provided by law, said assessment was
confirme~by the City Council of the City of South San Francisco and a'warrast thereupon was attached thereto by
said superintendent of streets, a~ter the diagram, assessment and warrant were recorded by said superintendent o!
streets, and then d~livery to the contractor, as required by said act; and said warrant having been returned to
said suoerintendent of streets with a written statement of the amount unpaid upon each assessment shown thereon,
which statement was signed by said contractor and was thereupon filed by said superintendent of streets; and
~EREAS on the 18th day of October, 19A8, said superintendent of streets filed with the city cler~
a complete list of all assessments unpaid under said assessment upon the respective assessment or diagram numbers
thereon, whereupon said city clerk gave notice of the filing of said list, having fixed the 6th day of December,
19A8, 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 assess-
ment 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 the 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 on file in the office of the city clerk of said city that said notice was published as required bylaw; 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:
D~GRAMAND
~S~~ ~. ~O~T
$263.oo
263.00
263.00
263.00
263.00
263.00
263. O0
T 0 T A L $1,8&1.00
The total aggregate amount of said sum unpaid is One Thousand Eight Hundred Forty-One Dollars
N(~, THEREFORE, 'in consideration of the premises, the City Council of the City of South San
Francisco does ordain as follows:
Section 1. Said bonds shall be issued upon the.security of the unpaid assessments in the amount
of $1,8~1.00) in accordance with the prOVisions of $aid "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 December6, 19~8, and bear interest
at the rate of five (5) percent per annum, commencing on the 18th day of October, 19~8, and shall be fifteen
(15) in number and shall be in the following denominations:
BOND
NUMBERS SERIES DENOMINATIONS
DATE OF MATURITY
DENOMINATIONS
OF INT. COUPONS
RAY. JAN 2. 1950
DENOMINATIONS OF
SEMI-ANNUAL IN-
TEREST COUPONS
$122.73
122.73
122.73
122.73
122.73
July 2, 1950
July 2, 1951
July 2, 1952
July 2, 1953
July 2, 195&
$7.&1
7.&l
7.&l
7.&l
7.&l
$3.07
3.07
3.07
3.07
3.07
WHEREAS, after notice of filing the assessment was given, as provided by law, said assessment was
confirmee~ by the City COuncil of the City of South San Francisco and a' warraet thereupon was attached thereto by
said superintendent of streets, a~ter the diagram, assessment and warrant were recorded by said superintendent ¢
streets, and then delivery to the contractor, as required by said act; and said warrant having been returned to
said superintendent of streets with a written statement of the amount unpaid upon each assessment shown thereon,
which statement was signed by said contractor and was thereupon filed by said superintendent of streets; and
~EREAS on the 18th day of October, 19&8, said superintendent of streets filed with the city clef
a complete list of all assessments unpaid under said assessment upon the respective assessment or diagram number
thereon, whereupon said city clerk gave notice of the filing of said list, having fixed the 6th day of December,
19&8, 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 assess
ment 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 the 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 on file in the office of the city clerk of said city that said notice was published 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:
D~GRAM~D
~S~SMENT ~. ~O~T
$263.oo
263.00
263.00
263.00
263.00
263.00
263.00
T 0 T A L $1,8&1.00
O0).
The total aggregate amount of said sum unpaid is One Thousand Eight Hundred Forty-One Dollars
N(~f, TPT~P~FORE, 'in consideration of the premises, the City Council of the City of South San
Francisco does ordain as follows:
Section 1. Said bonds shall be issued upon the.security of the unpaid assessments in the amount
of $1,8&1.00) in accordance with the provisions of $aid "Lmprovement Bond Act of 1915", and the amendments
thereto, under and pursuant to the resoIutions, notices and proceedings duly adopted and taken by said city
council. Said bonds shall be called "Improvement Bonds" and shall be dated December6, 19~8, and bear interest
at the rate of five (5) percent per annum, commencing on the 18th day of October, 19~8, and shall be fifteen
(15) in number and sh~ll be in the following denominations:
BOND
NUMBERS SERIES DENOMINATIONS
DATE OF MATURITY
DENOMINATIONS
OF INT. COUPONS
RAY. JAN 2. 1950
DENOMINATIONS OF
Sw~I-ANNUAL IN-
TEREST COUPONS
1 Y $122.73 July 2, 1950 $7.~1 $3.07
2 Y 122.73 July 2, 1951 7.~1 3.07
3 Y 122.73 July 2, 1952 7.~1 3,07
~ Y 122.73 July 2, 1953 7.~1 3.07
5 Y 122.73 July 2, 195~ 7.~1 3.07
6 Y 122.73 July 2, 1955 7.~1 3.07
7 Y 122.73 ~ttly 2, 1956 7.&l 3.07
8 Y'.~ 122.73 July 2, 1957 7.~1 3.07
9 ! 122.73 July 2, 1958 7.~1 3.07
10 Y 122.73 July 2, 1959 7.41 3.07
11 Y 122.73 July 2, 1960 7.~1 3,07
12 Y 122.73 July 2, 1961 7.~1 3.07
13 Y 122.73 July 2, 1962 7. &l 3.07
IA Y 122.73 July 2, 1963 7.~1 3.07
15 Y 122.73 July 2, 196~ 7.~1 3.07
Section 2. Said bonds will be issued in annual series and the unpaid assessments, as determined
by said city council, together with the interest thereon shall remain and constitute a trust Eund 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 bonds, and' such proportion of each assessment coming due in any year, together with the
annual interest thereon, shall in turn be paybale 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 proportionafe penalties for delinquency. Said bonds
shall be signed by the treasurer of the City of South Sah 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 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 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 NO. $
The City of South San Francisco, California, will pay the bearer hereof$ on the 2nd day of
19. ~., $ at the office of the city treasurer, said sum being the semi-annual interest due
on Improvement Bond No. , Series X.
City Treasurer
Section 3. Said city clerk shall forthwith deliver said bonds to said L. C. Smith, in satisfaction
of the balance due to him upon his assessment and warrant.
I hereby certify that the foregoing resolution was regularly introduced and adopted by the City Council
of the City of South San Francisco on the 6th day of December, 19~8, by the following vote: ~
Ayes, Councilman Victor Boido, Chas. K. Elder, Leo Ferko, Adolph Sani, Emilio Cortesi.
Noes, 8ouncilmen None
AbSent, Councilmen None
Attest:
City Clerk