HomeMy WebLinkAboutReso 1727-1951RESOII~TION NO. 1727
AN ORDER PROVIDING FOR THE ISSUANCE OF STREET IMPRO~T BONDS,
PR~SCRIBING THE DENOMINATIONS OF SUCH B05~]S AND THE INTERF~?COUPONS
ATTACHED.
RESOLUTION OF INTF3~TION
No. 1573
,~{EREAS the City Council of the City Of South San Francisco did, on the 28th day of August, 1950,.
pass its Resolution of Intention No.'157~ for the improvement of a certain street in said Resolution
~ of Intention mentioned and described, under and pursuant to the provisions of the "IMPRO~ENT ACT OF
1911", and the amendements thereto, reference to said Resolution ~f Intention being hereby expressly
made for a description of said work and the district in said Resolution of Intention described and
for further particulars; and
Whereas the contract for said work of improvement was duly awarded to L. C. SMITH COMPANY, and
thereafter was duly compla~ed to the satisfaction of the Superintendent of Streets of said City,
whereupon a diagram and assessmem~twere duly made; and
~VHEREAS, after'due notice of the filing of ssi4 assessment was given, as provided by law, and
said assessment ~s, on the].]~tkday of ~temhe~, 1951, confirmed by the City Council of said City
* of South San Francisco and thereafter said diagram, assessment and warrant ~ere duly recorded by
said Superintendent of Streets and then delivered to the contractor in the tim~, form and manner
re~ired by said act; and said warrant having been duly returned to said Superintendent of Streets
with the written statement of the amount paid upon said assessment shown thereon, which statement
was si~ned by said contractor and was thereupon refiled b~ said ~perin%endent of Streets; and
~HERE^S, on the 1st day of November, 1951, said Superintendent of Streets filed ~ith the
clerk of said City Council a complete list of all assessments unpaid under said assessment upon
the respective assessment or diagram numbers %heron, whereupon said City Clerk duly gave notice
of the filing of said list, having fixed Monday, the_3~_~ay of De~r, 1951, at the hour of
8:00 o'clock p.m., as the time when interested persons may appear before said 8ity Oeuncil and
show cause why bonds should not be issued upon the security of the 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.Hytand, City Clerk of said City, ~hich affidavit is now On file
in the office of said City ~le~k. ~
,~that said notice was posted as required by law; and it like-
* A warrant was issued by said Superintendent of Streets.
wise appearing from the affidavit of HAZEL TAVENER, now on file in the office of the City ~ler~
of ~aid City, that said notice was pu-B/~5'~'~-required by law; and
WHEREAS said L.C. SMITH CONPANY has, by an instrument in writing, on file in the office of
said City Clerk, assigned and transferred said warrant to Hannaford & Talbot; and
'3HEREAS 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 UNPAID ASSESSMENT
1 $ 652.99
2 1,33&.82
3 993.90
& 1,356~17
6 2,981.80
7 1,501.lA
8 2,119.98
lA 1,~A~ ----
TOTAL $ -lA, 9A2.h8
T~.~total aggregate amount of such sums unpaid is FOURTE~I THOUSNAD NINE HUNDRED FORTY-~O
and ~8/100 DOLLARS ( $ /Z, %2. ~8).
NOt?, THEREFORE, in consideration of the premises, the City Council of the City of South
San Francisco does ordain as follows:
Section 1. That bonds be issued upon the security of the unpaid assessments in the amount
of FO~RTE~N TNOUSAND NINE N[~IDRED. FORT~- ~) and ~8/100 DOLLARS'($1A,gA2.AS), in accordance
with said "IMPRO~NT ACT OF 1911", and the amendments thereto, and of the "IMPROVEME~ BOND
ACT OF 1915", and the amendments thereto, under and pursuant to the resolutions, notices and
proceedings duly sdopted and taken by said'City Cmmcil; said bonds shall be called "Improvement
Bonds" and shall be Dated_~ac~mb~r ~ 1951, andbear interest at the rate of FIVE PERCENT (S%) per
annum, commencing on the 1st day of November,1951, and shall be fifteen(15) in number and in the following
denominations:
DENOMINATIONS OF
DENOMINA DATE OF INTEREST COUPONS SEMI-AN~AL INTERE
-..----_BOND NOS. .--------SERIES .-.---TIONS NA~TP~TY__ PAYABLE ON JANUARY C~PONS
f- / ........
1 EL S 996.~ July 2, 1953 $ 59.38 S 2A.90
,2 EL 996.16 July 2, 195& 59~38 2A.90
3 EL 996,16 ~July 2, 1955 59.38 2A.90
A ~ .1995.16 July 2, 1956 59,38 2A.90
5 EL 996.16 July 2, 1957 59,38 2&.90
6 ~-~., 996.16 July 2, 1958 ~59,387 2A.90
7 EL 996.16 July2, 1959 59.38 2&.90
8 EL 996.16 July 2, 1960 59.38 ~2&.90
9 EL 996'16 July 2, 1961 59.38 2&.90
LI$ EL 996.16 July 2, 1962 59.38 2&.90
I1 EL 996,16 July 2, 1963 59.38 2~.90
12 EL 996.16 July 2, 196& 59.38 2&.90
13 EL 996.16 July 2, 1965 59.38 2&.90
ih ~ 996.16 July 2, 1966 59.38 2&.90
15 h~L 996.16 July 2, 1967 59.38 23,.90
Section 2. Said'bonds will be issued in annual series and the unpaid assessments, as determined
by said city council, toMether with the interest thereon, shall remain and constitute a tm~st fund for the redem~
and payment of said bonds and for ~he interest which may be due thereon, which unpaid assessmsnts shall
be payable in annual series corresponding in number to the number series of the bonds issuedl 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 ,oming~due in any year,t~gether
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 times and the same
NO?I, THEREFORE, in consideration of the premises, the City Council of the City of SOuth
San Francisco does ordain as follows:
Section 1. That bonds be issued upon the security of the unpaid assessments in the amount
of FOIIRTE~N THOUSAND NINE H%~IDRED FORTY*- T~) and hS/lO0 DOLLARS' ($1A,gh2.AS), in accordance
with said "IMPROV~NT ACT OF 1911", and the amendments thereto, and of the "IMPROVEMEI~r BOND
ACT OF 1915", and the amendments thereto, muder and ~oursuant to the resolutions, notices and
proceedings duly adopted and taken by said~ City Cmmcil; said bonds shall be called "Improvement
Bonds" and shall be Dated-Dacmmha~.S~ 1951, andbear interest at the rate of FIVE PERCENT (%%) per
annum, commencing on the 1st day of November,1951, and shall be fifteen(15) in number and in the following
denominations:
DENOMINATIONS OF
DENOMINA DATE OF INTEREST COUPONS SEMI-ANT~3AL INTEPJ
BOND NOS. SERIES TIONS MAT~IRITY PAYABLE ON JANUARY CC~TPONS
f-l .........
1 EL $ 996.24 July 2, 1953 $ 59.38 $ 24.90
~2 EL 996.16 July 2, 195& 59,38 2A.90
3 h'L 996.16 'July 2, 1955 59.38 24.90
& hl~ .1995.16 July 2, 1956 59~.38 24.90
5 EL 996.16 July 2, 1957 59.38 24.90
6 ~L 996.16 July 2, 1958 ~59,387 24.90
7 EL 996.16 July 2, 1959 59.38 24.90
8 EL 996.16 July 2, 1960 59.38 '24.90
9 EL 996.16 July 2, 1961 59.38 24.90
~1~. EL 996.16 July 2, 1962 59.38 2&.90
I1 EL 996.16 July 2, 1963 59.38 24.90
12 EL 996.16 July 2, 196h 59.38 24.90
13 h~L 996.16 July 2, 1965 59.38 24.90
ih EL 996.16 July 2, 1966 59.38 24.90
15 h'L 996.16 July 2, 1967 59.38 24.90
Section 2. Said' bondS will be issued in annual series and the unpaid assessments, as determined
by said city council, to,ether with the interest thereon, shall remain and constitute a tr~xst fund for the redem
and payment of said bonds and for ~he 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 issuedl 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 aoming due in any year,t~gether
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 times and the same proportionate amounts and bear the same proportionate
1penalties f&r delinquency. Said bonds shall be sig~ned 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 attached thereto shall bear the engraved of lithographed signature of the treasurer in place
of his signature; said bonds shall be substantially in the form set forth in said "I~PROVY~ENT BOND
ACT OF 1915", as amended. .
'The ~nterest coupons attached to each of said ~onds and evidencing the interest to accrue there
on 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 being
the semi-annual interest due on Improvement Bond No.
- - Series El.
City Treasurer.
Section 3. Said City Clerk shall forthwith deliver said bonds to said Hannaford & Talbot,
the assignee of said L. C. S~NITH COMPANY, in satisfaction of the balance ~e upon its 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, this_~E~_day of December, 1951,
by the following vote:
Ayes, Councilmen Victor Boido, Charles E. Elder, Adolph Sani, Joseph Bracco, Emilio Cortesi
Noes, Councilmen None
Absent, Councilmen None
Attest:
Daniel J. Hyland