HomeMy WebLinkAboutCity Council Resolution 214 WHJM:JS:Im 11/18/64 8c
RESOLUTION N0. -214
A ]~SOIETION DETERMINING UNPAID ASSESSMENTS
AND PROVIDING FOR ISSUANCE OF BONDS
CHESTER AVEE IMPROVEMENT PROJECT
RESOLVED, by the City Council of the City of Ssrstoga~
California, that
WHEREAS, said Council did on May 6, 1964 pass and adopt its
Resolution of Intention No. 185 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 be issued thereunder pursuant to the provisions of the
Improvement Bond Ac~ 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 November 20, 196~, the City Clerk has filed
with the City Treasurer a list of all assessments which now ~emsin
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 respectiveiN
reference 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 represent
ed by 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 $81,349.00 and. bonds
shall be issued upon the security of said unpaid assessments in the
amount of $81,349.00 in accordance with the provisions of the
Improvement Bond Act of 1915 (Division l0 of the Streets and Eigh-
ways Code) and under and pursuant to the provisionsof said
Resolution of Intention and the proceedings thereunder duly had
andtaken~ that said bonds shall be eighty-two (82) in number,
shall be dated December R1, 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. Ssi d 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 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 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 i~ turn be payable in installnments 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 litho-
graphed signature, and the official seal of said City shall be
affixed thereto. The interest coupons affixed thereto shall be
signed by said Treasurer or bear his engraved, printed or litho-
graphed 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
consecutlvely and be substantially in the following fo~m, to wit:
Coupon No. $.
CITY OF SARATOGA
SANTA CLARA COUNTY, CALIFORNIA
Will pay to bearer hereof on the 2rid day of ,
19 at the office of the Treasurer of the City of
Sa~'~toga, the sum of Dollars
($ ) said s~'being'the semi-annual interest
due on
Improvement Bond No.
of Series No.
T~easur~r 0'f' the City of
Saratoga
7. That the City Clerk shall forward to the City Treasurer
and County Auditor a certified copy of this resolution.
LIST OF UNPAID ASSESSMENTS
CITY OF SARATOGA
CHESTER AVENUE IMPROVEMENT PROJECT
Ass ~t Assessor's Amount of Ass 'd Val 'n
No.,: Parcel No. Assessment Lan~ Impt.
i 397-1-ll $7, OO5.00 $13,230 $1,160
2 397 -3-7 1,266. O0 3,960
3 397-1-10 422. O0 1,800 4,680
4 397-3-24 422. O0 2,000
4A 397 -3-23 422. O0 2,000
5 397 -3-19 422. O0 t, 500 2,070
6 397-1-8 13'465'001 12,950 200
6A 397-1-8 2,904. O0
7 397-1-9 16,812.001 9,140
7A 397-1-9 7,313.00
8 397 -3 -18 11,861. ii t
8A 397-3 -18 7, ~. 13~ 300
8B 397-3-18 8, .
10 397-14-10 3,157. O0 8,720
$8t, 349. O0 $68,600 $8,110
EXHIBIT "B"
Annua 1
Princ ipa 1
Series Bond Nos. Amount Date of Maturity
1964-1 1-5 $5,000.00 July 2, 1966
6-10 5~000.00 July 5, 1967
1i 349.00 July 2, 1967
12-16 5,000.00 July 2, 1968
17-21 5,000.00 July 2, 1969
22-26 5,000.00 July 5, 1970
27-31 5,000.00 July 2, 1971
32-36 5,000.00 July 2, 1972
37-41 5,000.00 July 2, 1973
42-46 5,000.00 July 2, 1974
47-52 6,000.00 July' 2, 1975
53-58 6,000.00 July 2~, 1976
59-64 6,000.00 July 2, 1977
65-70 6,000. O0 July 2, 1978
71-76 6,000.00 July 2, 1979
77-82 6,000.00 July 2~ 1980
I hereby certify that the foregoing is a full, true and
correct copy of Resolution duly passed and adopted by the City
Council of the City of Saratoga, California, at a meeting thereof
196 4 by the following
held on the _2ml_ day of December ~ ~ I '
vote of the members thereof:
AYES, and in favor thereof, Councilmen:
Glennon, Hart~n, Drake, Tyler, Burry
NOES~ Councilmen: None
ABSENT, Councilmen: None
City Clerk of the City of~ratoga
APPROV :
,, ~ ~ I I-Mayor