HomeMy WebLinkAboutReso - CC - 145-1964WHJM:JS:amf �i0-2-64 12C
RESOLUTION NO. 145-64
A RESOLUTION DETERMINING UNPAID ASSESSMENTS
AND PROVIDING FOR ISSUANCE OF BONDS
CALIFORNIA DRIVE STREET LIGHTING PROJECT
RESOLVED, by the City Council of the City of Burlingame,
California, that
WHEREAS, said Council did on September 3, 1963 pass and adopt
its Resolution of Intention No. 74-63 relating to the construction
of public improvements in said City under and pursuant to the pro-
visions of the Municipal Improvement Act of 1913, and amendments
thereto, and did therein provide that serial bonds would be issued
thereunder 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, has been duly
published and mailed in the manner provided by law, and the time so
provided for receiving the payment of assessments in cash has expired,
and on October 5, 1964, the Superintendent 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 accurate 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 thereof, are as shown on Exhibit "A"
hereto attached and by 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, refer-
ence is hereby made to the assessment and to the diagram recorded
in the office of the Superintendent of Streets of said City after
confirmation by said Council, the several lots represented by said
assessment numbers being so numbered and designated upon said diagram
and assessment as so confirmed and recorded, severally and respec-
tively.
3. The unpaid list is in the amount of $2,388.50 and bonds
shall be issued upon the security of said unpaid assessments in the
amount of $2,388.45 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 provisions of said Resolution of Inten-
tion and the proceedings thereunder duly had and taken; that said
bonds shall be fifteen (15) in number, shall be dated November 15,
1964, 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 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, 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 correspond-
ing in number to the number of series of bonds issued, and an annual
proportion of each assessment shall be 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 be payable in install-
ments as the general taxes of said City on real property are payable,
and shall become delinquent at the same time and in the same propor-
tionate amounts and bear the same proportionate penalties for delin-
-- quenry; - — —
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 be affixed thereto.
2
The interest coupons affixed thereto shall be signed by said Treasurer
or bear his engraved, printed or lithographed signature; and such
signing and sealing of said bonds by said officers and signing of
said coupons by said Treasurer shall constitute and be a sufficient
and binding execution of each and every one of said bonds and all of
the coupons thereof respectively. Said,bonds shall be 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 be numbered consecu-
tively and be substantially in the following form., o wit:
Coupon No. $
CITY OF BURLINGAME
SAN MATEO COUNTY, CALIFORNIA
Will pay to bearer hereof on the 2nd day of ,
19 at the office of the Treasurer of the City of
Burlingame, the sum of Dollars 3 )
said sum being the semi-annual in erest due on
Improvement Bond No.
of Series No.
Treasurer of the City of BurlingamiT
7. That the City Clerk shall forward to the City Treasurer
and County Auditor a certified copy of this resolution.
i
EXHIBIT "A"
LIST OF UNPAID ASSESSMENTS
CITY OF BURLINGAME
CALIFORNIA DRIVE STREET LIGHTING PROJECT
Diagram
and
Ass't
Assessor's
Amount of
Ass'd
Val'n
Number
Parcel No.
Assessment
Land
Impvt
3
29-232-03
$275.52
$7,o85
$4,98o
12
29-242-05
275.52
5,400
4,200
14
29-242-07
551.o6
10,500
5,160
27
29-233-03
275.52
7,575
28
29-233-02
275.52
7,575
6,320
30
29-213-o4
735.36
27,600
13,800
$2,388.50
$65,735
$34,460
EXHIBIT "B"
Series Bond No.
Principal
Date
of
Maturity
49 1
$159.23
July
2,
1966
2
159.23
July
2,
1967
3
159.23
July
2,
1968
4
159.23
July
2,
1969
5
159.23
July
2,
1970
6
159.23
July
2,
1971
7
159.23
July
2,
1972
8
159.23
July
2,
1973
9
159.23
July
2,
1974
10
159.23
July
2,
1975
11
159.23
July
2,
1976
12
159.23
July
2,
1977
13
159.23
July
2,
1978
14
159.23
July
2,
1979
15
159.23
July
2,
1980
`,
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 19th _ day of October ,
1964 , by the following vote:
AYES, and in favor thereof, Councilmen:
Crosby -George -Johnson -Martin.
NOES, Councilmen: None
ABSENT, Councilmen: Diederichsen
APPROVED:
`City Clerk of the City of buriingame
Mayor '-