HomeMy WebLinkAboutReso - CC - 091-1969WJML:KIJ. mj 12-8-69
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RESOLUTION NO. 91 -69
A RESOLUTION DETERMINING UNPAID ASSESSMENTS AS AMENDED
AND PROVIDING FOR ISSUANCE OF BONDS
BAYSIDE IMPROVEMENT DISTRICT NO. 4
THIRD SALE
$70,000
RESOLVED, by the City Council of the City of Burlingame, California,
WHEREAS, said Council did on November 6, 1967 pass and adopt its
Resolution of Intention No. 60-67 relating to the acquisition and con-
struction 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 be issued there-
under pursuant to the provisions of the Improvement 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 be paid in cash was duly waived by
all of the owners of all of the property assessed, a, list of all assess-
ments remaining unpaid was duly prepared and filed with the City Treas-
urer and determined to be an accurate statement thereof, and certain
of said assessments have since been amended because of property divisions;
WHEREAS, bonds to represent said unpaid assessments have been duly
issued and sold in the total principal amount of $877,627 (represented
by $525,000 First Sale and $352,627 Second Sale), and $350,000 remain
to be issued and sold in said proceedings;
NOW, THEREFORE, IT IS HEREBY ORDERED, as follows:
1. That the assessments in said unpaid list which now remain un-
paid, and the aggregate thereof, as now amended, are as shown on Exhibit
"A" hereto attached and by reference made a part hereof.
2. That for a. particular description of the lots or parcels of
land bearing the respective assessment numbers set forth in said unpaid
list and upon which assessments remain unpaid, severally and respec-
tively, reference is hereby made to the assessment and to the diagram
and to the various amendments thereof recorded in the office of the
Superintendent of Streets of said City after confirmation by said Council,
the several lots or parcels of land represented by said assessment
numbers being so numbered and designated upon said diagram and assess-
ment as so amended and as so confirmed and recorded, severally and
respectively.
3. The unpaid list is in the amount of $1,227,627 and additional
bonds shall be issued upon the security of said unpaid assessments in
the amount of $70,000, jurisdiction being reserved to issue the remain-
ing $280,000 of bonds to represent the remaining portion of said unpaid
assessments as funds are required for said project, in accordance with
the provisions of the Improvement Bond Act of 1915 (Division 10 of the
Streets and Highways Code) and under and pursuant to the provisions
of said Resolution of Intention and the proceedings thereunder duly
had and taken; that said bonds shall be seventy (70) in number, shall
be dated December 29, 1969, shall be designated "Series 51, Third Sale"
and bear interest from their date at the rate of not to exceed six
percent (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 by reference.
4. Said bonds shall be issued in series, and the unpaid assess-
ments as shown on said list filed with the City Treasurer of said
City and determined by said Council, as amended, 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
be due thereon, which unpaid assessments shall be taxable in annual
series corresponding in number to the number of series of bonds issued,
and an annual proportion of each assessment shall be payable in each
-2-
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 be 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. The bonds shall be executed on behalf of the City and under
its official seal by the Treasurer and Clerk, and the interest coupons
attached thereto shall be executed by the Treasurer. The Treasurer
may use an engraved, printed or lithographed facsimile of his signa-
ture in lieu of signature by hand, and the seal of the City may be
affixed to the bonds by printed, lithographed or other reproduction
thereof; and such signing and sealing of said bonds and coupons by
said officers, and signing of said coupons by the Treasurer, shall
constitute and be a sufficient and binding execution of each and
every one of said bonds and coupons thereof respectively. Said
bonds shall be substantially in the form set forth in the Improvement
Bond Act of 1915.
6. The interest coupons attached to each of said bonds and
evidencing the interest to accrue thereon shall be numbered consecu-
tively and be substantially in the following form, to wit:
On the 2nd day of
CITY OF BURLINGAME, California, will pay to bearer
hereof at Bank of America, N,T.&S,A., Main Office,
San Francisco, California, the City's Paying Agent,
the sum shown hereon, being interest due on Improve- $�
ment Bond, Bayside Improvement District No. 4,
dated December 29, 1969, Series 51, Third Sale. Coupon No._
No.
Treasurer of the My of Burlingame
7. The City Clerk shall forward to the City Treasurer and
County Controller a certified copy of this resolution.
-3-
I hereby certify that the foregoing is a full, true and
correct copy of a resolution duly passed and adopted by the
City Council of the City of Burlingame, California, at a meeting
thereof held on the 15th day of December 19 69
by the following vote:
AYES, and in favor thereof, Councilmen:
Amstrup-Crosby-George-Johnson-Martin.
NOES, Councilmen:
ABSENT, Councilmen:
APPROVED:
None
None
city Clerk of the City or Burlingame
EXHIBIT "A"
LIST OF UNPAID ASSESSMENTS
CITY OF BURLINGAME
BAYSIDE IMPROVEMENT DISTRICT NO. 4
AMENDED AS OF DECEMBER 8, 1969
Diagram and
Anza Airport Park
Assessment No.
Lot
Block
Unit
Acreage
Amount
1-A
12
5
6
0.763
$ 9,705
2-A
11
5
6
o.675
8,581
3-A
10
5
6
o.675
8,581
4-A
9
5
6
o.678
8,618
5-A
8
5
6
1.170
14,879
6-A
7
5
6
0.813
10,3.35
7-A
6
5
6
O,835
lo,619
8-A
5
5
6
0.542
6,890
9-A
4
5
6
3056o
45,266
10
3
2
4
2.028
23,791
11
2
2
4
1.099
12,890
12
1
2
4
2.587
18,611
13
1
1
4
2.093
24,553
14
2
1
4
0.716
8,397
15
3
1
4
1.o16
11,920
16
1
3
5
o.818
9,600
17
2
3
5
0.723
8,483
18
3
3
5
0.545
6,396
19
4
3
5
o.615
73218
20
5
3
5
o.697
8,176
21
6
3
5
0.723
8,483
22
7
3
5
o.68o
7,980
23-A
1
7
6
0.572
7,150
23-B
2
7
6
0.562
7,033
23-C
3
7
6
0.562
7.033
23-D
4
7
6
0.562
7,033
23-E
5
7
6
0.562
7,033
23-F
6
7
6
0.562
79033
'ej-G
7
7
6
0.562
73033
23-H
8
7
6
0.562
7,033
23-1
9
7
6
0.562
7,033
23-J
10
7
6
0.562
7,033
23-K
11
7
6
0.578
7,239
23-L
12
7
6
o.687
8,599
23-M
13
7
6
0.769
9,633
23-N
14
7
6
o.942
11,790
23-0
15
7
6
1.002
12,529
23-P
16
7
6
o.84o
10,519
23-Q
17
7
6
0a729
99130
23-R
18
7
6
o.654
8,185
23-S
19
7
6
o.652
8,155
23-T
1
8
6
0.509
6,353
23-U
2
8
6
0.517
6,471
23-V
3
8
6
o.456
53703
23-w
4
8
6
0.499
6,235
23-x
5
8
6
o.620
79742
23-Y
6
8
6
o.657
89214
23-z
1
10
6
7.877
98,546
Diagram and
Anza Airport Park
Assessment No.
Lot:
Block
Unit
Acreage
Amount
24-A
11
6
6.678
$ 7% 343
24-B
12
6
4.226
49,588
24-C
1
6
6
0.756
89881
24-D
2
6
6
0.711
8,333
24-E
3
6
6
0.732
8,580
24-F
4
6
6
0.703
8,251
24-G
5
6
6
0.722
% 470
24-H
6
6
6
0>74o
8,690
24-1
7
6
6
0.758
% 881
24-1
8
6
6
0.776
9,101
24-x
9
6
6
0,795
95320
24-L
10
6
6
o.813
9,539
24-M
11
6
6
0.781
9,156
24-N
12
6
6
0,563
6,6o6
24-o
13
6
6
0,559
6,551
24-P
14
6
6
0.549
6,442
24-Q
15
6
6
0.530
6,222
24-R
16
6
6
0.524
6,14o
24-s
17
6
6
o,438
5,153
24-T
18
6
6
0.554
6,497
24-u
19
6
6
o,457
5,373
25-A
13
6
6,173
72,411
25-B
14
6
9.555
112,081
25-C
1
9
6
1.119
13,113
25-D
2
9
6
o,645
7,568
25-E
3
9
6
0,7o6
8,289
25-F
4
9
6
1.527
17,909
25-G
5
9
6
1.16o
133612
25-H
6
9
6
1.053
12,336
25-1
7
9
6
o,879
10,312
25-a
8
9
6
o,818
9.9592
Parcel
No. as shown on
Parcel
Map recorded in
Vol, 84,
P. 33,
San Mateo
County
Recorder
Records,
26-A
1
4.572
53,629
26-B
2
o>834
99790
26-C
3
3.189
37,4o6
$ 192273627
EXHIBIT "B"
NUMBERS AND PRINCIPAL AMOUNTS AND MATURITIES
CITY OF BURLINGAME
BAYSIDE IMPROVEMENT DISTRICT NO. 4
SERIES 51 THIRD SALE
$70,000
Bond
Numbers,
Incl.
Annual
Principal
Date of
Maturity
1 -
5
$ 5,000
July
2,
1971
6 -
10
5,000
July
2,
1972
11 -
15
5,000
July
2,
1973
16 -
20
5,000
July
2,
1974
21 -
25
5,000
July
2,
1975
26 -
30
5,000
July
2,
1976
31 -
4o
103000
July
2,
1977
41 -
50
10,000
July
2,
1978
51 -
60
10,000
July
2,
1979
61 -
70
10,000
July
2,
1980