HomeMy WebLinkAboutReso 3492-1962RESOLUTION NO. 3492
A RESOLUTION DETERMINING UNPAID ASSESSMENTS AND
PROVIDING FOR ISSUANCE OF BONDS
WILLOW AVENUE IMPROVEMENT PROJECT
RESOLVED, by the City Council of the City of South San Francisco, California, that
WHEREAS, said Council did on June 19, 1961 pass and adopt its Resolution of Intention No. 3211,
as amended, relating to the acquisition and construction of public improvements in said City under and
pursuant to the provisions of the Municipal Improvement Act of 1913, and amendments thereto, and did
therein provide that serial bonds would he issued thereunder pursuant to the provisions of the Improve-
ment Bond Act of 1915, reference to said Resolution of Intention hereby being expressly made for further
particulars;
WHEREAS, notice of the recordation of the assessment and of the time within which assessments
may he paid in cash, has been duly published and mailed in the manner provided hy law, and the time so
provided for receiving the payment of assessments in cash has expired, and on June 22, 1962, the Super-
in~endent of Streets has filed with the City Treasurer a list of all assessments which now remain unpaid;
and
WHEREAS, the Council has duly considered said list and has determined that the same is an ac-
curate statement thereof;
NOW, THEREFORE, IT IS HEREBY ORDERED, as follows:
1. That the assessments in said unpaid list which now remain unpaid, and the aggregate there-
of, are as shown on Exhibit "A" hereto attached and hy reference made a part hereof.
2. That for a particular description of the lots bearing the respective assessment numbers
set forth in said unpaid list and upon which assessments remain unpaid, severally and respectively,
reference is hereby made to the assessment and to the diagram recorded in the office of the Superinten-
dent of Streets of said City after confirmation hy said Council, the several lots represented hy said
assessment numbers being so numbered and designated upon said diagram and assessment as so confirmed
and recorded, severally and respectively.
3. The unpaid list is in the amount of $5,914.77 and bonds shall be issued upon the security
of said unpaid assessments in the amount of $5,914.65 in accordance with the provisions of the Improve-
ment Bond Act of 1915 (Division 10 of the Streets and Highways Code) and under and pursuant to the pro-
visions of said Resolution of Intention and the proceedings thereunder duly had and taken; that said
bonds shall he fifteen (15) in number, shall he dated August 20, 1962, and bear interest' from their date
at the rate of not to exceed six per cent (6%) per annum, and the denomination of said bonds with their
respective numbers and dates of maturity are as shown on Exhibit "B" hereto attached and made a part
hereof hy reference.
4. Said bonds shall be issued in series, and the unpaid assessments as shown on said list
filed with the City Treasurer of said City and determined by said Council, together with the interest
thereon, shall remain and constitute a trust fund for the redemption and payment of said bonds and of
the interest which may he due thereon, which unpaid assessments shall he taxable in annual series cor-
responding in number to the number of series of bonds issued, and an even annual proportion of each
assessment shall he payable in each year preceding the date of the maturity for each of the several bonds
issued, and such proportion of each assessment coming due in any year, together with the annual interest
thereon, shall in turn he payable in installments as the general taxes of said City 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.
5. Said bonds shall be signed by the Clerk and Treasurer of the City or bear the Treasurer's
engraved, printed or lithographed signature, and the official seal of said City shall he affixed
thereto. The interest coupons affixed thereto shall he signed hy said Treasurer or hear his engraved,
printed or lithographed signature; and such signing and sealing of said bonds hy said officers and
signing of said coupons hy said Treasurer shall constitute and he a sufficient and binding execution
of each and every one of said bonds and all of the coupons thereof respectively. Said bonds shall he
substantially in the form set forth in the Improvement Bond Act of 1915. Said Treasurer and Clerk of
said City are hereby authorized and directed to sign said bonds.
6. The interest coupons attached to each of said bonds and evidencing the interest to accrue
thereon shall he numbered consecutively and he substantially in the following form, to wit:
Coupon No. $
CITY OF SOUTH SAN FRANCISCO
SAN MATEO COUNTY, CALIFORNIA
Will pay to bearer hereof on the 2nd day of , 19 ,
at the office of the Treasurer of the ,
the sum of Dollars ($ )
said sum being the semi-annual interest due on
Improvement BOnd No.
of Series No.
Treasurer of the City of South San Francisco
RESOLUTION NO. 34925 (Continued)
7. That the City Clerk shall forward to the City Treasurer and County Auditor a certified copy
of this resolution.
I hereby certify that the foregoing resolution was regularly introduced
and adopted hy the City Council of the City of South San Francisco at a regular
meeting held this 2nd day of July, 1962, hy the following vote:
Ayes, Councilmen Leo J. Ryan, Patrick E. Ahern, Emilio Cortesi, and Andrew Rocca
Noes, " None
Absent, " G.J. Rozzi
ATTEST: ARTHUR A. RODONDI
City Clerk
EXHIBIT 'A'
LIST OF UNPAID ASSESSMENTS
WILLOW AVENUE ASSESSMENT DISTRICT
Assessment San Mateo Co.
No. Assessor' s No. Amount
Ass'd Val'n
L~d' Imp,'t
6 11-261-16 (por) $ 482.90 $ 270
7 11-261-15 (pot) 482.90 270
8 11-261-14 (por) 482.90 270
9 11-261-13 (por) 482.90 270
12 11-270-03 (por) 2,227.43 2,750
17 11-262-03 (por) 1.755.74 1.425
$5,914.77 $5,255
$ 1,440
840
27,040
540
$29,860
EXHIBIT "B"
Series Bond No.
Denomination
Date of Maturity
61
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
$ 394,31
394,31
394.31
394.31
394.31
394.31
394.31
394.31
394.31
394.31
394.31
394.31
394.31
394.31
394.31
July 2, 1963
July 2, 1964
July 2, 1965
July 2, 1966
July 2, 1967
July 2, 1968
July 2, 1969
July 2, 1970
July 2, 1971
July 2, 1972
July 2, 1973
July 2, 1974
July 2, 1975
July 2, 1976
July 2, 1977