The URL can be used to link to this page

Home My WebLink AboutCity Council Resolution 889-S1767A-83a WMAM:PDA:rva 06/10/80 12c RESOLUTION NO. 889-S A RESOLUTION AWARDING SAL~ OF BONDS VILLAGE PARKING DISTRICT NO 4 ASSESSMENT DISTRICT RESOLVED, by the City Council of the City of Saratoga, California, that WHEREAS, this Council has received a written offer from Stone & Youngberg dated June 25 , 1980, to purchase the bonds to be issued to represent the unpaid assessments in proceedings taken pursuant to Resolution of Intention No. 889-C, adopted by this Council on February 7, 1979, as amended~ NOW, THEREFORE, IT IS ORDERED, as follows: 1. That said bonds be, and they are hereby, ordered sold to Stone & Youngberg, subject to all of the terms and conditions set forth in said written offer. 2. That the interest rate of said bonds be, and the same is hereby, fixed at the rate or rates stated in said written offer. 3. That the City Treasurer is hereby directed to cause said bonds to be prepared in accordance with proceedings therefor and that the same be executed and delivered to said purchaser upon receipt of the purchase price therefor, and upon the performance of the conditions stated in said written offer. · · · · , 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 Saratoga, California, at a meeting thereof held on the %~ day of ~L~ , 1980, by the following vote of the members thereof: AYES, and in favor thereof, Councilmen: Clevenger, Mallory, Jensen, Watson, Mayor Callon NOES, Councilmen: None ABSENT, Councilmen: None City Clerk'6f %J~jity of Saratoga APPROVED: (SEAL) Mayor LIST OF UNPAID ASSESSMENTS CITY OF SARATOGA VILLAGE PARKING DISTRICT NO. 4 ASSESSMENT DISTRICT Diagram and Assessor's Unpaid Assessment Number Parcel Number Assessment 1 517-09-05, $443,737.89 06, 07 & 08 2 517-09-33 46,989.36 3 517-09-34 6,545.47 4 517-09-35 2,727.28 Total Unpaid Assessments $500,000.00 EXHIBIT "A" CITY OF SARATOGA VILLAGE PARKING DISTRICT NO. 4 ASSESSMENT DISTRICT IMPROVEMENT BONDS, SERIES 1980-1 Bond Numbers Principal Maturity Date (Inclusive) Denomination Amount (JullF 2) 1 - 2 $5,000 $ 10,000 1981 3- 5 5,000 15,000 1982 6 - 9 5,000 20,000 1983 10 - 13 5,000 20,000 1984 14 - 18 5,800 25,000 1985 19- 22 5,000 20,000 1986 23 - 27 1,000 5,000 1986 28- 32 5,000 25,000 1987 33- 37 1,000 5,000 1987 38- 42 5,000 25,000 1988 43 - 47 1,000 5,000 1988 48- 53 5,000 30,000 1989 54 - 58 1,000 5,000 1989 59 - 65 5,000 35,000 1990 66 - 70 1,000 5,000 1990 71 - 77 5,000 35,000 1991 78 - 82 1,000 5,000 1991 83 - 90 5,000 40,000 1992 91 - 95 1,000 5,000 1992 96 - 104 5,000 45,000 1993 105 - 109 1,000 5,000 1993 110- 119 5,000 50,000 1994 120 - 124 1,000 5,000 1994 125 - 136 5,000 60,000 1995 $500,000 EXHIBIT "B" BOND FORM. The Bonds shall be substantially'in the following form: IMPROVEMENT BOND CITY OF SARATOGA VILLAGE PARKING DISTRICT NO. 4 ASSESSMENT DISTRICT SERIES 1980-1 BOND NO. $ Under and by virtue of the Improvement Bond Act of 1915, Division 10 of the Streets and Highways Code, the City of Saratoga, in the County of Santa Clara, State of California, will, on the second day of July, , out of the redemption fund for the payment of the bonds issued upon"~e unpaid assessments made for the acquisitions, work and improvements more fully described in Resolution of Intention No. 889-C, passed by the City Council of said City on the 7th day of February, 1979, as amended, pay"to bearer (or, if this bond is registered as herein provided, to the registered owner hereof) the sum of Dollars ($ ) with interest thereon from the second day of August, 1980, at the rate of percent ( %) per annum, all as is hereinafter specified, and at Bank of America National Trust and Savings Association (the Paying Agent and Registrar) at its Corporate Agency Service Center in San Francisco, California. This bond is one of several annual series of bonds of like date, tenor and effect, but differing in *(interest rates,) amounts and maturities, issued by said City under said law for the purpose of providing means for paying for the acquisitions, work and improvements described in said Resolution of Intention, as amended, and is secured by the moneysin said redemption fund and by the unpaid assessments made for the payment of said acquisitions, work and improvements, and, including principal and interest, is payable exclusively out of said fund. The interest is payable semiannually, to wit: On the second day of January and July in each year hereafter, upon presentation of the proper coupons therefor; provided, that the first of said coupons is for the interest to the second day of January, 1981, and thereafter the interest coupons are for the semiannual interest. This bond will continue to bear interest after maturity at the rate above stated; provided, it is presented at maturity and payment thereof is refused upon the sole ground that there is not sufficient money in said redemption fund with which to pay same. If it is not presented at maturity, interest thereon will run until maturity. * delete if only one interest rate EXHIBIT "C" This bond may be registered as to principal and interest with the privilege of transfer, discharge from registration and successive registration, upon written request of the owner and presentation of the bond to the Registrar named herein and payment of the charges, if any, all in the manner and upon the terms set forth in the resolution providing for the issuance hereof. This bond may be redeemed and paid in advance of maturity upon the second day of January or July in any year by giving the notice provided in said law and by paying principal and accrued interest together with a premium equal to 5 percentum of the principal. IN WITNESS WHEREOF, said City of Saratoga has caused this bond to be signed by the Treasurer of said City and by its Clerk, and has caused its Clerk to affix hereto its corporate seal, all on the second day of August, 1980. Clerk Treasurer (SEAL) COUPON FORM. The coupons to be attached to the Bonds shall be substantially in"[he following form: The CITY OF SARATOGA, Santa Clara County, On 2, California, will, unless the bond specified herein is redeemed prior thereto, pay to $ bearer the. sum hereon at the Corporate Agency Service Center of Bank of America · National Trust and Savings Association, San Francisco, California, as interest on Coupon No. IMPROVEMENT BOND, CITY OF SARATOGA, VILLAGE 'PARKING DISTRICT NO. 4 ASSESSMENT DISTRICT, SERIES 1980-1 dated, August 2, 1980. No. Treasurer EXHIBIT "C" (ii) REGISTRATION FORM: The form of endorsement for registration on the Bonds shail be sUbStAntially as follows: REGISTRATION This bond is registered in the name of the registered owner last entered below and both the principal of and interest on this bond are payable only to such owner; provided that this bond may be registered to bearer and thereby discharged from registration and the negotiability hereof restored. Note: NO writing below except by the Registrar. Date of Name and Address Signature of Registry of Registered Owner Registrar EXHIBIT "C" (iii)