HomeMy WebLinkAboutCity Council Resolution 386 WJML:JS:amf 10-25-67 12C
RESOLUTION NO. 386
A RESOLUTION DETERMINING UNPAID ASSESSMENTS
AND PROVIDING FOR ISSUANCE OF BONDS
VILLAGE PARKING DISTRICT NO. 1
RESOLVED, by the City Council of the City of Saratoga,
California, that
WHEREAS, said Council did on May 4, 1966 pass and adopt its
Resolution of Intention No. 3e9, as subsequently amended, relating
to the acquisition and construction of public improvements in said
City under and pursuant to the provisions of the Municipal Improve~
ment Act of 1913 and amendements thereto, and did therein provide
that serial bonds would be issued thereunder pursuant to the pro-
visions of the Improvement Bond Act of 1915, reference to said
Resolution of Intention, as amended, 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 the City Clerk has filed with the City Treasurer a list
of all assessments which now remain unpsid~ 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:
lo That the assessments in said unpaid list which now remain
unpaid, and the aggregate thereof, are as shown on Exhibit "A'~ here-
to attached and by reference made a part hereof.
e. 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
e
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
diagrams and assessment as so confirmed and recorded, severally and
respectively.
B. The unpaid list is in the amount of ~315,72Y.36 and bonds
shall be issued upon the security of said unpaid assessments in said
amount in accordance with the provisions of the Improvement Bond Act
of 1915 (Division lO of the Streets and Highways Code) and under
and pursuant to the provisions of said Resolution of Intention, as
amended, and the proceedings thereunder duly had and taken~ that
said bonds shall be three hundred sixteen (B16) in number, shall be
dated December 4, 1967, and bear interest from their date at the
rate of not to e~ceed si~ per cent (6%) per annum, and the denomlns-
tion of said bonds with their respective numbers and dates of maturity
are ss shown on Exhibit "B" hereto attached and made s part hereof
by reference.
4. Said bonds shall be issued in series, and the unpaid assess-
merits as shown on said list filed with the City Treasurer of said
City and determined by said Council, together with the interest there-
on, 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 sn 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 in-
stallments ss the general taxes of said City on real property are
payable, and shall become delinquent st 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 lithogrsphed
signature, and the official seal of said City shall be affixed there-
to. The interest coupons affixed thereto shall be signed by said
Treasurer or bear his engraved, printed or lithographed signsture~
and such signing and sealing of said bonds by said officers and
signing of said coupons by said Treasurer shall constitute and be
s 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 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 ~nd be substantially in the following form, to wit:
Coupon No~ $.
CITY OF SARATOGA
SANTA CLARA COUNTY, CALIFORNIA
Will pay to bearer hereof on the 2nd day of ~
19 at the office of the Treasure? of the O"~y "of ....
Sara'~ga, the sum of Dollars (~ )
said sum being the semiannual interest due on
Improvement Bond No.
of Series No.
Treasurer of "the"" O~i~ of saratoga
7. That the Clerk shall forward to the City Treasurer and
County Auditor a certified copy of this resolution.
EXHIBIT
LIST OF UNPAID ASSESSMENTS
CITY OF SARATOGA
VILLAGE PARKING DISTRICT NO. i
Ass't Assessor's Amount of Ass'd Val'n
No. Parcel No. Assessment ==L~n..d !mpvt
1 503-25-9 Por $38,098.73 $ 4,060 $3,130
2 503-25-8 13,152.44 1,170 800
3 503-25-7 9,944.29 1,25o 1,36o
4 503-25-24 Por 70,910.33 8,620 47,630
503-25-19
503-25-20 Pot 9,520
7 503-25-18 Pot 16,069.54 See above
8 503-24-23 Por 28,770.96 4,120 8,250
9 503-24-22 Por 8,425.78 2,360 2,990
lO 503-24-21 Por 9,393.27 1,810 450
11 503-24-20 9,042.30 880 200
12 503-24-19 Por 17,613.55 4,120 1,910
· 13 503-24-16 Por 51,550.52 5,550 2,110
14 503-24-23 Por 19~653.63 See above
$315,727.36 $48,740 $78,350
EXHIBIT "B"
S~.ri~..s Bond Nos. Principal..AmOM.n.t Date of Msturit_l
1967-1 1 $ ?27.36 July 2, 1969
2 - 6 5,000.00 July 2, t9?0
7 - 11 5,000.00 July 2, 1971
12 - 16 5,000.00 July 2, 1972
17 - 21 5,000.00 July 2, 1973
22 - 31 10,000. O0 July 2, 1974
32 - 41 10,000.00 July' 2, 1975
42 - 51 10,000.00 July 2, 1976
52 - 61 10,000.00 July 2, 19?7
62 - 71 10,000.00 July 2, 19?8
72 - 81 10,000.00 July 2, 19?9
82 - 91 10,000.00 July 2, 1980
92 - 106 15,000~00 July 2, 1981
107 - 121 I5,000.00 July 2, 1982
122 - 136 I5,000.00 July 2, 1983
137 - 151 15,000.00 July 2, 1984
152 - 166 15,000.00 July 2, 1985
167 - 181 15,000.00 Jumy 2~ 1986
182 - 196 15,000.00 July 2~ 1987
197 - 216 20,000.00 July 2, 1988
217 - 236 20,000.00 July 2, 1989
237 - 256 20,000.00 July 2, 1990
'257 - 276 20,000.00 July 2, 1991
277 - 296 20,000. O0 July 2., 1992
297 - 316 20,000.00 July 2, 1993
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
held on the 1st day Of November ~ 196 7 , by the following
vote of the members thereof:
AYES, and in favor thereof~ Councilmenc Glennon, Hartman,
Tyler, Burry, Robbins
NOES, Councilmen: none
ABSENT, Councilmen: none
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