HomeMy WebLinkAboutReso 2505-1957RESOLUTION NO. 3505
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SOUTH SAN
FRANCISCO PROVIDING FOR THE ISSUANCE OF IMPROVEMENT BONDS
IN CONNECTION WITH THE AIRPORT BOULEVARD INDUSTRIAL TRACT
BE IT RESOLVED by the City Council of the City of South San Francisco, that
WHEREAS said City Council did, on the 19th day of September 1955, pass and
adept itsResolution of Inteotion No. 2237, relating to certain work proposed to be
done and improvements to be made in said City, as therein described, under and
purm~ant to the provisions'of that certain Act of the Legislature of th° State of
California designated as the "Improvement Act of 1911", as amended, and did therein
provide that serial bonds would be issued thereunder in tho manner provided by the
"Improvement Bond Act of 1951", as amended, reference to said Resolution of Intention
being hereby expressly made for further particulars; and
WHEREAS the contract for saidwork and improvement was duly awarded and
thereafter duly completed to the satisfaction of the Director of Public Works of said
City as ex-officio Superintendent of Streets, and to said City Council, whereupon an
assessment, warrant, and diagram were made, recorded, and delivered to the contractor
in the time, form, and manner as required by said Act, and the contractor, or his
assigns, having made due return thereon and the same having been duly filed; and
WHEREAS, on the 28th day of May 1957, said Superintendent of Streets made
and filed with the City Clerk of said City a complete list of all assessments unpaid
thereunder and upon therespective assessment or diagram numbers.thereon,
NOW, THEREFORE, IT IS HEREBY FOUND, DETERMINED, AND ORDERED AS FOLLOWS:
l. Said list of unpaid assessments, filed by maid Superintendent of Streets
as aforesaid, was, at the ttme:6f filing thereof, in all respects complete, and
correCt. The unpaid assessments in tho proceedings duly had and taken under and
pursuant to maid Resolutionof Intention No. 3337, and the aggregate amount of the
same, are aS follows:
Assessment
Number Amount
2 $ 3,144.35
3 2,260.18
4 2,033.61
5 2,425.96
6 2,707.79
7 1,525,21
8 1,757.30
9 3,591.97
10 4,017.48
13 8,101.26
15 2,839.37
16 7,902.33
17 3,901.43
18 2,536.49
19 2,536.49
20 2,536.49
21 2,939.89
23 2,387.28
23 1,945.19
-2. The total, or'aggregate, amount of maid assessments unpaid is tho sum
Of SIXTY-ONE THOUSAND EIGHTYAND 07/100the Dollars ($61,080.07).
3. Improvement bondm shall bo issued upon the security of said unpaid
assessments in said amount'ofSIXTY-ONE THOUSAND EIGHTY AND 07/100the Dollars
($61,080.07) in accordance'vith the provisions of sa~d Improvement Bond Act of 1915,
and. under and pursuant to the provisions of said Resolution of Intention No. 2237
and tho proceedings thereunder duly had and taken. Said bonds shall be seventy-five
(75) in number, shall bo dated August 5, 1957, and shall boar interest at the rate
of five percent (5%) per annum from Hay 17, 1957, and tho denominations of said
bonds, with the respective'numbers and dates of maturity, are as follows:
Series No.
Bond No.
Denomination
Date of Maturity
u-1 I $
2
3
4
5
1000.00
1000.00
1000.00
1000.00
72.0t
July 2, 1958
July 2, 1958
July 2, 1958
July 2, 1958
July 2, 1958
6
7
8
9
10
1000.00
1000.00
lO00.00'
1000,00
72.01
July 2, 1959
July 2, 1959
July 2, 1959
July 2, 1959
July 2, 1959
Il
12
13
14
15
1000.00
1000.00
1000.00
1000.00
72.01
July 2, 1960
July 3, 1960
July 2, 1960
July 2, 1960
July 2, 1960
146
Borios No.
De~mination
Date of Maturity
U-1
16 $ 1000.00
17 1000.00
18 1000.00
19 1000.00
20 72.01
July 2, 1961
July 2, 1961
July 2, 1961
July 2, 1961
July 2, 1961
21 lO00.O0
33 lO00.O0
23 1000.00
24 1000.00
25 73.01
36 1000.00
27 1000.00
28 1000.00
29 1000.00
30' 72.01
JUly 2, 1962
July 2, 1962
July 2, 1962
July 2, 1963
July 2, 1962
July 3, 1963
July 2, 1963
July 2, 1963
July 2, 1963
July 2, 1963
31 1000.00 July 2'. 1964
33 1000.00 July 2, 1964
33 1000.00 July 2, 1964
34 I000.00 July 2, 1964
35 72.01 July 2, 1964
36 lO00.O0
37 1000.00
38 1000.00
39 1000;00'
40 73.00
July 2, 1965
July 2, 1965
JUly 2, 1965
July 2, 1965
July 2, 1965
41 1000. O0
42 1000. O0
43 1000. O0
44 1000. O0
4 5 72. O0
July 2, 1966
July'2, 1966
July 2, 1966
July 3, 1966
July 3, 1966
46 1000.00
47 1000.00
'48 1000.00
49 1000.00
50 72.00
July'3, 1967
July 2, 1967
July 2, 1967
july 2, 1967
July 3, 1967
51 1000.00
52 1000.00
53 1000.00
54 1000.00
55 72.00
July 2, 1968
July 3, 1968
July.'2, 1968
July 2, 1968
July 2, 1968
56 1000.00
57 1000.00
58 1000.00
59 1000.00
60 72.00
July 2, 1969
July 2, 1969
July 2, 1969
July 2, 1969
July 2, 1969
61 1000.00
62 1000.00
63 1000.00
64 1000.00
65 72.00
July 2, 1970
July 2, 1970
July 2, 1970
July 2, 1970
JUly 3, 1970
66 1000.00
67 1000.00
68 1000.00
69 1000.00
70 73.00
71 1000.00
73 1000.00
73 1000.00
74 1000.00
75 72.00
July 2, 1971
JUly 2, 1971
July 3, 1971
July 2, 1971
July 2, 1971
July 2, 1973
July 2, 1972
July 2, 1973
July 2, 1972
July 2, 1972
4. There shall be attached to the respective bond~ designated in the
foregoing paragraph coupons for'interest accruing until the maturity thereof. Each
coupon shall represent the amount of semi-annual interest calculated at the rate of
five percent (5~) per annum, save and except that the 'first of such coupons shall be
in an amount equal to the interest accruing from the aforesaid 17th day of May 1957
until the 2d day of January 1958. The several subsequent coupons shall be in an
amount equal to the interest accruing semi-annually on each second day of july and
January thereafter occurring.
The first coupon attached to Bonds Nos. Ii 2, 3. 4, 6, 7, 8, 9, 11, 12,
13, 14, 16, 17, 18, 19, 21, 32,'23, 24, 26, 27, 28, 29,31, 32, 33, 34, 36, 37, 38,
39, 41, 42, 43, 44, 46, 47, 48, 49, 51, 52, 53, 54, 56, 57, 58, 59, 61, 62, 63,
64, 66, 67,~68, 69, 71, 72, 73, and 74 shall have a denomination of Thirty-one and
43/100the Dollars ($31.43), and the subsequent coupons attached to each of said bonds
shall have a denomination of Twenty-five Dollars ($25.00). The first coupon attached
to Bonds Nos. 5, 10, 15, 30, 25, 30, 35, 40, 45, 50, 55, 60, 65, 70 and 75 shall have
a denomination of Two and 26/lOOths Dollars ($3.26), and the subsequent coupons
attached to each of said bonds shall have a denomination of One and 80/lOOtha- Dollars
($1.80). ,.
5. Said bonds shall be issued in meries, and the unpaid amsessments as
mhown on the list filed by the Superintendent of Streets and determined by said City
Council, together with the interest, thereon, shall remain and constitute a trust
fund for the redemption and palment of said bonds and of the interest which may be
due thereon, which unpaid ammemm~ent mhall be payable in annual seriem correspond-
ing in number to the number of meriem of bonds imsued, and an even annual proportion
of each assessment shall be payable in each year'preceding the date of the maturity
for each of the several series of bonds issued, and such proportion of each assess-
ment co~ing due in any year, together with the annual interest thereon, shall in
turn be payable in instal'l~entm am the general munfCtpaltaXe~ of said City on real
,:~property are payable, and shall become delinquent at the mm tt~e and in the same
proportionate a~ountm and bear the mmae proportionate panaltie~ for delinquency.
6. Said bonds shall be st~ned by the Treasurer of said City and counter-
signed by the City Clerk, who mhall affix thereto the off.icial seal of maid City.
The interest coupons affixed thereto shall be signed by the City Treasurer or
bear his engraved, printed or lithograbhed signature, and much migning of said
coupons by maid City Treasurer shall constitute, and be, a Sufficient and binding
execution of each and every one of maid bonds and, likewise, of each and every one
of the coupens thereof, re~pectively. Said bonds shall be substantially in the
for~ met forth in maid Improvement Bond Act of 1915. Said City Treasurer and maid
City Clerk are hereby authorized, and directed, so to sign and countersign, respect-
ively.
7. The interest coupons attached to each of said bonds and evidencing
tho interest to accrue tbereon'Shall be numbered conmecutivoly and shall be sub-
stantially in the following for~, to-wit:
Coupon No.
CITY OF SOUTH SAN FRANCISCO
Stats of California
Will pay to the bearer hereof on the Sd day of
19 , at the office of
the ~-,easurer of the--'Ufty of South San Franct~c~
the mum of
UOllarm (~ ), mald sun
being the s~at-annual interest due on .Improvement
Bond No. of Series U-1.
Dated
olay Treasurer of the ~lty o!
~uth San Francisco
8. As and for full satisfaction of the balance due upon the assessment
and warrant, said bonds shall be payable to bearer and shall be delivered forth-
with to STONE & YOUNGBKRG, Investment Securities, Russ Building, San Francisco,
California, the duly designated assignee of Louim J.~Polettt and Natalia Jean
Poletti, the contractors.
9. The City Clerk shall forward a certified copy of thim resolution to
the City Auditor and City Treasurer.
I hereby certify that th~ foregoing resolution was regularly
introduced and adopted by the City Council of the City of South
San Francisco at a regular meeting held this 5th day of August 1957
by the following vote:
AYES,
Council~en G. J. Rozzi, Andrew Rocca, hilio Cortomi
and Leo J. Ryan
NOES, None
ABSENT, Counc~l~mn Francis Lucchi°
ATTEST:
Arthur A. Rodondi
City ~lerk