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HomeMy WebLinkAboutReso - CC - 091-1969WJML:KIJ. mj 12-8-69 that 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