HomeMy WebLinkAboutReso 1444-1949370
RESOLUTION NO. 14~
AN ORDER PROVIDING FOR THE ISSUANCE OF STREET IMPRO~ENT
BONDS, PRESCRIBING THE DENOMINATION OF SUCH BONDS AND THE
INT~RF~ST COUPONS ATTACHED
WHEREAS the City Council of the City. of South San Francisco did, on the 15th day of March, 19&8, pass
its Resolution of Intention No. 1325 entitled: "A RESOLUTION OF ~E CITY CGJNCIL OF THE CITY OF SOUTH~ SAN FRANCISCO
DECLARING ITS INT?~TION TO CONSTRUCT A SANITARY SE'~R IN SOUTH MAPLE AVENUE IN SAID CITY", 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 a description of saidwork and the district in said resolution of intention described
and for further particulars;
WHEREAS the contract for said work and improvementswasduly awarded to Ed Jarvis and thereafter was
duly completed to the satisfaction of the Superintendent of Streets of said city, whereupon a diagram and assessment
were duly maae, aha
~EP~EAS, after due notice of the filing of said assessment was given, as provided by law, and said
assessment was, on the 6th day of December, 19d8, 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 thereafter said diagram, assessment
and warrant were d~ily recorded by said superintendent of streets, and then delivered to the contractor in the time,
form and manner required by said~act; that said warrant having been duly returned to said superintendent of streets
with a written statement of the amount unpaid upon said assessment shown thereon, which statement was signed by said
contractor and was thereupon filed by said superdntendent of streets; and
WHERF~S, on the lath day of March, 19A9, said superintendent of streets filed with the clerk of said
city co~mcil 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 2nd
day of May, 19~9, 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 said 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 onfile in the office of said city clerk, that said notice
was posted as required by law; and it likewise appearing from the affidavit of ~yra R. Spangler, now on file in the
office of said city clerk, that said notice was published as required by law; and
~~ 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:
DIAGR~,~ AND ASSESS~T NO. AMOUNT OF UNPAID ASSESSMENT
1 $157.6&
2 817.38
7 d08.71
9 d08.69
10 557.65
11 817.38
12 A08.70
13. A08.70
iA ~08.73
15 A08.70
TOTAL Sd, 802.28
The total aggregate amount of such sums unpaid is Four Thousand Eight Hundred and Two and 28/100
Dollars (Sd, 802.28).
N~THEREFORE, in consideration of the premises, the City Council of the City of South San Francisco
does ordain as follows:
Section 1. Tha% said bonds be issued upon the security of the unpaid assessments in the amount of
$&,802.28, in accordance with the provisions of said ~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 May 2, 19&9, and bear interestat the rate of five percent (5%) per
ann, un, commencing on the lath day of March, 19~9, and shall be fifteen (15) in m~mber at the following denominations:
D~2~OMINATIONS OF DF~O~,IINATIONS OF
BOND COUPON~ PAYABLE SEMI-ANNUAL INT.
NUMBERS SERIES DENOMINATIONS DATE OF ~{ATUHITY JANUARY 2, 1950 COUPONS
$ 320.15 July 2, 1950 $ 12.85 $ 8.00
320.15 July 2, 1951 12.85 8.00
320.15 July 2, 1952 12.85 8.00
320.15 July 2, 1953 12.85 8.00
320.15 July2, 195& 12.85 8.00
320.15 July 2, 1955 !2.E5 8.00
320.15 July 2. 1956 12.8~
-fsrmandmanner requlredby sa~d~act~-~hat~wo~-~-~'nav~ng'"e~een~a~y~e~urnea to sa~a m~pe~ntenaen~ oz
~rith a written statement of the amount unpaid upon said assessment shown thereon, which statement was signed by said
contractor and was thereupon filed by said superintendent of streets; and
WHEREAS, on the lath day of March, 19A9, said superintendent of streets filed with the clerk of said
city council a complete list of all assessments~unpaid under said assessment upon the respective assessment or diagram
numbers thereon, ~hereupon said city clerk duly gave notice of the filing of said list, having fixed Monday, the 2nd
day of ~y, 19~9, 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 said 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 onfile in the office of said city clerk, that said ootice
was posted as required by law; and it likewise appearing from the affidavit of ~yra R. Spangler, now on file in the
office of said city clerk, that said notice was published as required by law; and
~~ 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:
DIAGRA~,~ AND ASSESS~T NO. AMOUNT OF UNPAID ASSESSmEnT
1 $157.6~
2 817.38
7 ~08.71
9 d08.69
10 557.65
11 817.38
12 ~08.70
13, ~08.70
IA ~08.73
15 ~08.70
TOTAL $&,802.28
The total aggregate amount of such sums unpaid is Four Thousand Eight Hundred and Two and 28/100
Dollars ($&,802.28).
NCVTHEREFOP~, in consideration of the premises, the City Council of the City of South San Francisco
does ordain as follows:
Section 1. That said bonds be issued upon the security of the unpaid assessments in the amount of
$~,802.28, in accordance with the provisions of said ?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 May 2, 19&9, and bear interestat the rate of five percent (5%) per
ann,~m, commencing on the ldth day of ~arch, 19~9, and shall be fifteen (15) in number at the following denominations:
D~2~OMINATIONS OF DF~O~INATIONS OF
BOND COUPONS PAYABLE S~I-ANNUAL INT.
NUMBERS SERIES DENOMINATIONS DATE OF ~.~TURITY JANUARY 2. 1950 COUPONS
1 C1 $ 320.15 July 2, 1950 $ 12.85 $ 8.00
2 C1 320.15 July 2, 1951 12.85 8.00
3 C1 320.15 July 2, 1952 12.85 8.00
d C1 320.15 July 2, 1953 12.85 8.00
5 C1 320.15 July 2, 195& 12.85 8.00
6 C1 320.15 July 2, 1955 12.85 8.00
7 C1 320.15 July 2, 1956 12.85 8.00
8 C1 320.15 July 2, 1957 12.85 8.00
9 C1 320.15 July 2, 1958 12.85 8.00
10 C1 320.15 July 2, 1959 12.85 8.00
11 C1 320.15 July 2, 1960 12.85 8.00
12 C1 320.15 July 2, 1961 12.85 8.00
13 C1 320.15 July 2, 1962 12.85 8.00
ld C1 320.15 July 2, 1963 12.85 8.00
15 C1 320.15 July 2, 196& 12.85 8.00
Section 2. Said bonds ~11 be issued in annual series and the unpaid assessments, as determined by
said city council, together with the interest thereon shall remain and consititute a tn~st fund for the redemption
and payment of said bonds and for the interest ~ich may be due thereon, which unpaid assessments shall be payable
in annual series corresponding in number to the number of series of the ~onds 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
bs 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 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 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 to the bearer hereof, on the 2nd day of
, 19 , $ at the office of the city treasurer,
said sum be{ng~-~mi-annual interest due on Improvement Bond No. , Series .
City TreaSurer
Section 3. Said city clerk shall forthwith deliver said bonds to Ed Jarvis, in satisfaction
of the balance due to Ed Jarvis upon his assessment and warrant.
I hereby certify that the foregoing resolution was regularly introduced and adopted by the ~ity
Council of the City of South San Francisco on the 2nd day of ~ay, 19&9, by the following vote
Ayes:
Noes:
Absent:
Councilmen Victor Boido,. Leo lFerko, Adolph 8ani, Emilio Cortesi.
Counci~aen None
Councilman Chas. K. Elder
Attest:
DANIEL J. HYLAND
City Clerk