HomeMy WebLinkAboutRESO 6052l
• • • ' . JHIJilii.KlJ:Jn 07/02/82 10378
.SRC:clr 7/06/82
:SRC:cp 7/12/82
RESOLUTl<W NO. 6052
A RE~Ol.UTION DETERMINING ~PAID ASSESSMENTS
AND PROVIDING FCR ISSUANCE OF BONDS
UNDERGROUND UTILITIES CONVERSION
UN~ERGRCMJNO UTILITY ASSESSMENT DISTRICT NO. 22
ORIGINAL
RESO\.VEO, by the Council of the City of Palo Alto, California~ that
WHEREAS, this Council did on July 7, 1980, pass and adopt its Resolution
No. 5818, A Resolution of Intention to Amend Section 12 .16.020 of Olapter
12.!6 of Title 12 cf the Palo Alto Municipal Code by Establishing Underground
Utility District #22 relating to the acquisition and construction of public
ftrprovements under and pursuant to the provisions of the Palo Alto Municipal
Code; and
WHEREAS, t~e owners of certain proper-ties have exercised the option
offered in said ResolutiCl'l and in Section 12.16.092 of said Code, top~ the
cost over a period of years with such obligation secured by special
assessments; and
Wt£REAS. this Coun<:11 d1d on June 1, 1980 pass and adopt its Resolution
No. 5914, a Resolution of the Council of the City of Palo Alto Determining
Pr()l.-!rties Electing to Pa.y Cost Over a Per10tJ of Years for Underground Ut1lity
D1stict No. 22, and a list of the pl"Operttr owned by persons ~ have
exercised the option to pay the costs of convef'tfng electric service
connections to underground locations over a per1od of five (5) years 1s
attached to said Resolution No. 5914 as Exhibit •A•;
ll>W, TI£REFtJtE, n IS HEREBY ORDERED, as follows:
1. List of Unpaid AssesSMents. That the asseswents now remaining
unpaid are as shC*n on Exhibit ".l• attached hereto and by this reference ude
a part hereof, and th•t the aggregate aount thereof is $99,935.
2. jjsu\nce of Bonds. Bonds in the aggregate principal amount of
$99,935.00 shall be issued as hereinafter prOYfded U90n the security of said
unpaid asses5'1ents in accordance with the prOY1s1ons of Bond Plan B, Section
13. 16.110 of the Palo Alto MJnicipal Code. analagous to the lsaprovcment Bond
' ..
Act of 1915 (D iv1s1on 10 of the Street and Highways Code) and under and
pursuar1t to the provfstons of said Resolution of Intention and the proceedings
thereunder duly had and taken. Said bond-; shall be known as •Improvement
Bonds, City of Palo Alto Underground Utility Assessment District No. 22,
Series -o-,• and shall be dated May 14, 1982. Said bonds shall be issued as a
single bond fully registered as to principal and interest in the name of the
City Treasurer of the City of Palo Alto, rumbered •R-1• and fn the
der.omination of $99, 935. The total principal amount of such fully registered
bond shall be payable in installments in the amounts and on the dates set
forth in Exhibit •e• attached hereto and by this reference made a part hereof.
3. Interest. Said bonds shal 1 bear interest fran date at the rate of
9.6% per annufll. cooiputed pursuant to Section 12.16.096 of said Code, payable
conrnenc ing on January 21 1983, aml semiannually thereafter on July 2 and
January 2 of each year to maturity.
Each bond wi 11 continue ta bear interest after maturity at the rate
stated therein, provided it is presented at maturity and payment thereM is
refused on the sole ground that there is not sufficient money in the
rede...,tion fl.tsd with Wiich to pay same; if 1t is not presented at matudty,
interest thereon will run only until maturity.
4. ~lac~ of Pa,yment. The principgl of and interest on said bonds shall
be payable in lawful imney of the United States of America at the office of
the City Treasurer, City Hall, Palo Alto, California.
s. Form. The fully registered bond shall be substantially in the form
set forth in Exhibit •c" attached hereto and incorporated herein by reference,
the blank spaces therein to be fi Hed in to confonn to the provisions of this
Resolution.
6. Execution. The bonris shall be ex:::uted on behalf of the City and
under its offfcial seal by the Treasurer and by the Clerk of the City~ and the
officia 1 seal may be placed on the bonds 1r. lfke manner; such signing and
sealing shall constitute and be a sufficient and binding execution.
If any officer W.ose signature appears on the bonds thereon ceases to be
such officer before the delivery of the bonds to the purchaser thereof, such
2
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signature shall be as valid as if such officer had remained in office unt11
the delivery of the bonds.
7. Pr~aration and Delivery Of Bonds. The Treasurer is hereby directed
to cause said bonds to be prepared in accordance with this resolution ~:id to
de 1 i ver sa..iae upon the1 r comp 1et1 "n and execution to the purchaser thereof.
upon receipt of the purchase price therefor.
8. Proceeds of Sa le of Bonds. The proceeds received from the sale of
the bonds, including any pre11fu•. shall be placed 1n the fund for the
acquisition and/or construction of the project (herein the •Improvement
Fund•). except that any interest accrued from the date of the bonds to the
date Of delivery thereof shall he ph.ced in the redemption fund provided for
herein. All moneys 1n the I•rovement Fund shall be withdrawn only upon
checks or warrants of the City, end shall be applied exclusively to the
payment of the t"lst of the acquh itions and/or i~rovements described in the
proreedings herein referred to, as now or hereafter amended or changed. and
all expenses incidental thereto, or ;n n:imbursement of City funds expended
therefor. Any 'M"'plus remaining after payEnt of all costs and all legal
ci1arges, clai1115 and expenses shall be a.sed as set forth in said proceedings.
9. Redemption Fu_.ruf. The Treasurer shall keep a redemption fund
designated by the name of the bonds, 1nto Wlich shall be placed any accrued
interest and all sums received fraa the collection of unpi11id assessments
provided for 1n Secticn 11 hereof, and of the interest lnd penalties thP.reon,
and fran "11ch fund d1sburse11ent shall be •de to pay the principal of the
bonds and the 1 nterest due thereon.
10. Bond Register. The Treasurer shall keep or cause to be kept a
register showing thP series, nulllber, date, a~nt, rate of interest. and the
last known holder of each bond, The Treasurer shall cancel or cause to be
canceled each bond paid.
11. Collection c.f Unpaid Assess.:Mnts. The unpaid assessments shown on
Exhibit •A•. together t!fth the fntc!"est thereon, shall ~ payable in annual
series corresponding in 1111ber to the number of serial 1111turities of the bonds
3
tssued. M 1MU11 prcportton of IACh UllS)lid asstu•nt shill be P111ble tn
ee<ft yeer precedtng tt.e d1te of .. tur1t1 of e1ch of the several sertes of
bonds tuueu. suff tc tent to Pl1 Ute bonds •en ~e. end such proport ton of
t.m UflPlid 11sHs.nt c•ift9 due tn any ye•r. together with the lftr.Jll
tnter-ftt ttltr'IOft. stttl 1 be P111blt in tile SAM •nner 1nd at the same ti• and
1" tP!ie wm tnst.111-nts M u. ~al wes of the City or. real property are
~ylble. Ind btc<me cle11ftQUeftt It U.e w. ttllH Ind 1n the sa• pr~ortionate
MW)Uf\ts and Mer the SMe proportion1~ peN1t1es and tnterest ilfter
de ltnQUeftCy • do ~e 91nera 1 tl•ts Oft re1 l property with 1n Ute C1 ty. A 11
su• P"ttthed frm Ure ccllect1on of safd unpaid 1ssHS11ents and of the
interest Md Pl'M 1ttes tllet"ton st.111 be pl1ted In the re<Jaption fund prov 1ded
for hefoe1".
12. !...,UoK _Pf'~ctr to 9'11turttr. E1dl boftd caatstanding -.y be
rtduud, '" •l• ar In ,.,.~ 1ftJ petd ift adv~ of .. turit1 upon the iecond
tt~ of Janulf'J ar Jul1 t• MY :.ear by gtvtng n lHSt 60 d_,, notice. and by
PQ'ing U. prh1e1pe1 ...a.mt thet eof to bl l"ff11•1d.. togetftt'r wit"l 1 prea1us
equal to St of IUO 1WtftCtpal ,1us t11teNt.t to the date of ldYPCtd eaturtty.
•to ev..i uid interest wf11 be !>11d to the
d&t• of ,.,_..t. 111 t.-U.t ~ Md • pror14-t tft loftd Plan I ..
,... TN•--shall ~1! for rMllllSUOft ud NUN bonds upon prep.,...t
or tsMtt81tftU flt --..nh sufft~tftt .... .,..,_., or _.....ver sufftc1ent surplus
fundi an t'1atho1• iMftfor i11 Us ,.,..lion fund. 1 .. M1ecttng bonch '°"
boRds or Ute Ylr'iOUS MflUll •tuf"it 1H Wl 1
be d9o1• pro r1tt he 1 ..nner tateftdld to dl1tri as little as poutble tho
r•11Uo.htp of ..,..,, llH\!Mf\tl to bonds ~tst1ftdh19.
lJ. ~1\r• ~--l· T1'I Cit1 hereby covewts w1tft lht holders
at •• llotlk. tht tt wt l1 •e • use of Ute Pf'QCteds of Ute boftd$ at fJl'l1 tt•
..,., .. Ula tw tMrtof •tdl, tf sudt use had b.-ret.soneb11 •a»tctld on the
d•t• U.e boMs .re tssued, .auld ~ uused Ulc bonds to be ri1trqe bonds
wiU.1a ti. •11ttng of Sectton 10l(c) of ~ lntcmal leweaul Codt of 1954. ••
•••ded, -•• t....,..,,., IM PrGPOHd treuw1 •ttu1attoftl p.nmilpted
~.
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14. Certtftcat1 IS tc lon·Arb1trge. On the blsh of Ute hcts:,
est 1 .. tes .-id c trcumt1nces naw tn ex tstence 1nd ht tx htence on the date of
issue of tt.e bonds. n dete,..i"ed by the Treasurer. H 1d Tre1surer is
tuthor bed to certtf1 thlt it is not eq>ected tti1t the proceeds of the issue
w111 be ntd tn • •nrter that ..,ld cause such obligations to be 1rbft,.1ge
bond'. Svctt certification shij 11 be de 11 vered to the pure ha ser at the t i-e of
deli~ and ~t for U,e bonds.
!S. Certtff~ Copt~. The City Clerk shall furnhh a certtf1ed copy of
"'ts rfl01uUon to the 1,...,.,,..,. and to Ute Controller of Santa Clara County.
• • • * • • • • * *
I hef-tby cerUf1 tJt.t the f~tng ts a full. true and correct copy of
1 resoluticm du1y peswd Md idaPteel by Utt Councn of the C1ty of Palo Alto,
CIHfomta. at ' 11ttUng thertof betd on the 12 dl.)r o~ JULY .. ltbli
b7 tile fo11owint wot.e of Ute~ Uter9of: --
AYES. •1111 in faYOr thet1!of. Courct-..ers: Bechtel. Cobb, Eyerly,
F1zzino. ~letchtr, Klein. Levy, Renzel. Wttherspoon
ll>ES. CWtb1 2 er': None
I
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LIST OF UNPAID ASSESSMENTS
CITY CJ= PALO ALTO
UNDERGROUND UTILITIES CCWVERSION
LWDERGROUND UTILITY ASSESSMENT DISTRICT r«J. 22
Owner Part;el No.
Diane Artz, Oulton Realty 124-28-?7 Invector Associates 124-28-28 The California Avenue Associates 124-28-29 The californfa Avenue Associates 124-28-30 Elizabeth L. Herbert 124-28-31 Perry D. Mafi 124-28-35 Betty Schink 124-28-36 Max & Mary Landau 124-28-40 Alois A. & Marthe Raymann 124-29-2 Mykola Hromnycky 124-29-6 l>Jca & Hanley Pr">J)erties, inc. 124-29-7 Erwin R. & Ruth E. Davidson 124-32-36 Stanley Bishop Corporation
Kenneth & Ella Thomas, et al./ 1Z4-32-38
Clayton Oelsecco & Carol Clay 124-32-39 Dean Ro & Florence W. Frisbie 124-32-41 Gabriel s. & Leroyce Oller 124-32-42 Camino Alto Investment Fund, Ltd. 124-32-44 J. R. Co~any/John Melert 124-32-46 Pesl Ha M. Rasmussen 124-32-48 Ellis L~ & Joan L. Jacobs 124-32-51 Mr. & Mrs. A. H. Cenedella 124-32-52 Family Service Association of
the Mid-Peninsula 124-32-56 Mr. & Mrs. Brenders 124-33-8 Clarence A. & Alic~ Nutt 124-33-13 Leah J. Taylor 124-33-18 James & Vera Leung 124-33-20 Richard R. & Arline F. ~atterson/
Ross Berthe 124-33-21 Philippe 6. & Margret E. Lehot 124-33-22 Lino & Alice Guslanf 124-33-25 L1no & Alice Guslan1 124-33-26 Stanley Bishop Corporation 124-33-27 William F. & Flora P. Klay 124-33-28 Stanley Bishop Corporation 124-33-30
Total
Princil;!al
s 3,322.00
3.00~ .oo
2,967.00
3,118.00
3,366.00
2,302.00
2 ,802 .00
1,455.00
5,140.00
2,763.00
4, 792 .oo
3,393.00
1,311.00
2,453.00
3,728.00
2,610.00
4,303.00
5,267.00
2,619.00
2,406.00
3,SZl.00
2,715.00
4,696.00
2,962.00
2,483.00
2,846.00
1,657.00
2,812.00
2,800.00
5,052.00
1,186.00
2,877 .00
1.205.00
s 99,9~5.00
Bond~
pnclu~hei
l
2-11
18-35
36-SS
S6·16
77· lOO
CITY Of PALO AL TO
UNOERGROUIO UTILITIES CONVERSION
\llOE~ UTILITY ASSESSMENT DISTRICT NO. 22
$99.935 JMPIOYEMEllT iONDS. SERIES 0
Total
Pr1nc;pal
Oenom1nat ton Amuftt
$ 935.00 $ 935.00 s l.000.00 $ 16,000.00 s 1.000.00 $ 18.000.00
' 1.000 .. 00 $ 20.000.00
$ 1"000.00 $ 21.0C>J.00
$ 1.000.00 $ 24.000 .. 00
ElttlllT 9tJ•
f4aturity
Date
jJul,i Zl
1983
1983
1984
1985
1986
1987
• t ...
Fll.LY REGISTERED BOND FORM. The single fully registered bond shall be
substantially 1n the following fonn:
llf ITEO STATES Of AMERICA
STATE CF CALIFORNIA COONTY OF SANTA CLARA
BOND tll. R-1
IMPROVEMENl BOHO
CITY a: PALO AL TO
UNDERGROUND C<ltVERSICW PROJECT
_ lltDERGROUND UTILITY ASSESSMENT DISTRICT fl). 22
SERIES 0
$99,935
Under and by virtue of Bond Plan B, Section 13.l&.110 of the Palo Alto
M.mfcipa.1 Code, analogous to the Improvement Bond Act of 1915, Division 10 of
the Streets and Highways. Code, the City of Palo Alto, State of California,
w111, out of the redemption fund for-the payment of the bonds issued upon the
unpaid portion of th~ assessments made for the acquis1t1on, work and
improvements 111>re fully desc~ibed in th2 proceedings ~ken pursuant to
Resolution No. 5818, A Resolution of Intention to Amend Section 12.16.020 of
Chapter 12.16 of fftle 12 of the Palo Alt\> M.lnic:fp1l Code by Establishing
UndergrCHind Ut111ty D 1strkt #22, adopted by the Counc 11 of said City on the
7th day of July, 1980, ~ to the City Treasurer of THE CITY OF PALO ALTO. or
registered assfgns, the SUM of
NINETY-NINE lHOUSAHD
Nit£ flJNMED THIRTY FIVE DOLLARS ($99,935)
being the aggregate of the principal amunt of the bonds herein specified, in
1 nsta l111ents of the pri nc 1 pal aW>Unt1 en the dates, as fo 11 ows:
Principal
Installments
s 935.00
$16,000.00
S18,000.00
$20,000.00
S2l,OOO.OO
$24,000.00
Insta.l lment
Due Date
~Jul,Y 2)
1983
1983
1984
1985
1986
1987
with intere~t on the unpaid princfpal balances thereof frm the date hereof at
the rate of n1ne and 60/100 percettt (9.GOI) per annuws, 111 as is here1n&fter
specified, and at the efffce of the Treuurer of ufd City. Al 1 pl.)'lllents of
prine1pa1 shall be entered on the •Schedule of Pa.ymnts• hereto attached and
11ade a part hereof by reference.
This bond 1s fss~2d under said law for the puri)Ose of providtng 11eans
for payfng for the 1c1;quisit1on, wort and 1111Provements descrtbed 1n s.id
proceedings, •nd is secured by the mne,ys in sa1d redellption fund and by the
unP<iid portion of the assessaaents nde for the pa,aent of said acqu ts 1 ti on,
work and impr~anents, and. t~1ud1ng principal and interest, is ~able
exclusively out Of said f ..md. .
The interest ts pUable ~m:ing on the second da,y of Jaooary, 1983 ..
and 5ell11nnual1y thereafter on tbe second d~ of July and January. Interest
wf 11 continue to be PQab 1 e on an,y ba l6nce re.a 1 n1 ng unpa 1 d on any 1 ns ta 11-lnt
due cfat:e at the rate above sttted• prOYhled there 1s not sufficient llOllt.Y 1n
EXHIBIT -c•
(1)
... •
sa fd redemption fund to pay any such 1nsta 1 lment on fts due date, subject to
the teMllS of the resolution providing for the issuance hereof.
Both principal and interest shall be paid to the registered owner hereof
by check or warrant 111iled to the address entered fn the book maintained by
the Treasurer for the registration and transfer of this bond, except that the
final fnstallment due hereon ~111 be pafd only upon the surrender of this bond
to the Treasurer.
The principal of this bond 1111 be redeemed and paid in advance of
111aturfty upon the second day cf January or July fn any year by giving tht
notice provided fn safd law and by paying principal and accrull!d interest
together wfth a pre.fu11 equal to five per centum of the principal.
This bond shall not become valid or obligatory for any purpo~e until
registered as to principal am interest in said registry book and in trtJ space
provided on th is bond. This bend may be transferTed by the registered owner,
fn person or by duly authorized attorney in writing, upon surrender of this
bond for regfstrat ion of such transfer, together with a <illy executed written
f nstrument of transfer in fonn approved by tt.e Treasurer. No transfer sha 11
be valid 11'\til entered in said book and endorsed upon thfs bend.
Any holdei-of this bond subsequent to its original holder 1s he1"6i:>y
placed on notice of all p~nt of both principal of and interest on this bond
prior to its transfer to such holder, and all subsequent holders hereof hereby
acknowledge that they have ascertained the actual unpaid principal amunt of
this bond as uf the dat.e of transfer to them and hereby release the City from
al 1 ·~ligation as to all pr1ncfpa1 and interest paid by the City prior to such
date.
This bond ....v be exchanged for coupG'1 bond~I) of denoR11'lations, and in
the manner set forth 1n the resolution prO\'fdfng for the issuance hereof.
IN li!ITNESS WHEREOF, safd City cf Palo Alto has caused this bond to be
signed b1 the Treasurer of satd City and ~ its Clerk. and has caused its
Cl~~ Jfflclal seal, all as of. the 14th Of May, 1982.
Tr rer
* • * * * *
RE61STRATIOI FORM. The form of endorseaent for '"'!gistretion on the
registered bond shill be substant1a '11 u follows:
Thf s bond 1s registered fn the Niie of the registered owner last entered
below and both the principal of and 1nterest on this bond are payable only to
such owner.
Note: No wr1t1ng below except by the Treasurer •
Date Of
R§fstrx
.._ and Address
of Regtstered Owner
EXHIBIT -c•
(ii)
Signature of
Treasurer
,-~---------------------------------------
Principal Payments
Amo-• .mt 12!1!
SOtEDULE <F PAYMENTS
Cle FULLY REGISTERED BOND
Pr1nc1pa 1 Ba lance
• JHHW:SRC:elr 07/06/82 238SC
~ignat~re of Treasurer
-~·
2329A
9 ORIGINAL
JHHW:KIJ:pl 06/03/81
NOTICE OF HEARING
ON PARKING ASSESSMENT ROLL
California Avenue Cant>r1dge Garage Project No. 65-09
(Resolution of Intention No. 3950, Adopted January 3, 1967);
California Avenue Area Off-Street Parking Project No. 71-63
(Resolution of Intention No. 4993, Adopted September 10, 1974);
California Avenue Area Off-Street Parking Maintenance District
(Resolution of Inten1 ion Ho. 5343, Adopted Februar·y 14, 1977);
University Avenue Civic Center Parking Project No. 66-08
(Reso1ut1cn of Intention No. 3896, Adopted June 13, 1966);
University Avenue Area Off-Street Parking Project ~o. 75-63
(Resolut1e11 ~f Intention No. 5242, Adopted August 9, 1976)
NOTICE .. IS HEREBY GIVEN that the City Engineer has caused to be prepared
arv:J filed with the City Clerk a report which pro~ides for the levying special
assessments on the properties within the parking assessment districts created
and established far the projert and pursuant to the Resolutions of Intention
cited above. Said report sets forth the amounts proposed to be levied for the
fiscal year 1981-82,, upa\ the several parcels of real property in the parking
assessment districts created to pay the ~rincipal and interest of the bonds
issued in said projects. which report is ?pen to public inspection.
Said report will be heard by the Council at its meeting to be held on
the 14th &y of June, 1982, at the hour of 7:30 p.11., Council Ch~·~Y"s, City
Hall, Palo Alto, California, at which Ume said Council will examine said
report and hear all persons interested therein.
Any person interested, objecting to the amunt of t.he assessment on any
parcel of real property owned by hi•. my file with the C1ty Clerk, at or
before the hout' fixed for hearing, a protest 1n ~iriting signed by him,
describing the parcel so that it 111.Y be tdentified, and stating the ground of
his protest. and Illy appear at said hearing and be heard in regard thereto.
Dated: May 24 • 1982
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