HomeMy WebLinkAboutReso 1414-1949RESOLUTION NO. 1A1A
AN ~RD~R PROVIDING FOR THE ISSUANCE OF STREET IMPROVEMENT
BONDS, PEESCR~I~ THE DENOMINATION OF SUCH BONDS AND THE
INTEREST COUPONS ATTACHED, PURSUANT TO RESOLUTION OF INTENTION
NO. ll81, ADOPTED JANUARY 27, 19A7.
~EREAS the City Council of the City of South San Francisco did, on the 27th day of January, 19&7,
pass its resolution of intention No. llS1 entitled: "A Resolution of the City Council of the City of South San
Francisco Declaring its Intention to Improve Second Lane Between the ~.¥esterly Line of Orange Avenue and the
Easterly Line of Eucalyptus Avenue", for the improvement work 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 for
other particulars; and
WHEREAS the contract for said work and improvement was entered into by L. C. Smith and Henry L.
Schweining, as superintendent of streets of said city, and thereafter was completed to the satisfaction of said
superintendent of streets whereupon a diagram and assessment were made; and
WHEREAS an aasessment was thereafter issued to said L. C. ~mith, and a warrant was attached thereto
by said superintendent of streets, as required by said act; and said warrant having been returned to said superin-
tendent of streets with the statement of the amount unpaid upon each assessment shown thereon, which statement was
filed by said superintendent of streets; and
WHEREAS, on the 1st day of May, 19&8, said superintendent of streets filed with the city clerk a
complete list of all assessments unpaid under said assessment upon the respective assessment and diagram numbers
thereon whereupon said city clerk gave notice of the filio~ of said list, having fixed the 7th day of February, 19&9
at the hour of 8 o'clock p.m., as the time when interested persons may appear before the city council of said city
and show cause why bonds should not be issued upon the security of the unpaid assessments shown upon said assessment
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 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 said city cle~ that said notice was published as required by law; and
~EAS 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:
ASSESSMENT AND
DIAGRAM NUMBER
AMOUNT
15 $191.66
212.~6
TOTAL $&O&. 62
The total aggregate amount of said sums unpaid is $&O&.62.
NOW, ~I~EFORE, in consideration of the premises, the City Council of the City of South San
FrancisC'o does order as follows:
Section 1. Said bonds shall be issued upon the security of the unpaid assessments in the
amounts of Four Hundred Four Dollars and 62/1OO ($~O~.62), in accordance with the provisions of said
"Improvement Act of 1911", and the amendment thereto, and of the "Improvement $o~d Act of 1915", and the
amendments thereto, under and pursuant to the resolutions, notices and proeeedinge duly adopted and taken by
the City Council. Said bonds shall be called "Improvement Bonds" and shall be dated February 7, 19~9, and
bear interest at'the rate of five (5) percent per annum from the first day of May, 19&8, and shall be five (5)
in number and shall be in the following denominations:
DENOMINATION OF
BOND DATE OF $ENOMINATION OF SE~I~,- ANNUAL
NUMBERS SERIES DENOMINATION , ~MAT~RITY ~ COUPONS I~2v50~, '~. 'i~ COUPONS
1 A1 $80.92 July 2, 1950 $6.76 $2.02
2 A1 80.92 July 2, 1951 6.76 ~2~O2
3 A1 80.92 July 2, 1952 6.76 2.02
80.92 July 2, 1953 6.76 2.02
5 A1 80.9& July 2, 195& 6.76 2.02
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 consitute a tm~st fund for the rede
tion 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 ser~a 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 annua
interest thereon shall in turn be ~a~..yable in installments the same as the general ~Amicipal taxes of said City
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 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 affix the official s
of said city. The interest coupons affixed thereto shall bear the engraved or printed or lithographed signatur
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.
~he interest coupons attached to each of said bonds and evidencing the interest to accrue thereo
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. . .
City Treasurer
Section 3. Said City Clerk shall forthwith deliver said bonds to said L. C. Smith, in satisfac-
tion of the balance due 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 FrRncisco this 7th day of February, 19&9, by the following vote:
Ayes, Councilmen Victor Boido, Chas. K. Elder~ Leo Ferko, Adolph Sand, Emilio Cortesi.
Noes, Councilmen None
Absent, Councilmen None
~Attest:
DANIEL J. HYLAND
City Clerk