HomeMy WebLinkAboutRESO 4042WJML:JS:amt 10-25-67 2OC
ORIGINAL
RESOLUTION NO. 4042
A RESOLUTION DI'i RMINING UNPAID ASSESSMENTS
AND PROVIDING FOR ISSUANCE OF BONDS
EL CAMINO REAL WIDENING
PROJECT NO. 64-1
RESOLVED, by the Council of the City of Palo Alto, California,
that
WHEREAS, said Council did on August 10, 1964 pass and adopt
its Resolution No. 3760 of Preliminary Determination and of Intention,
as subsequently amended, relating to the acquisition and 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 sarial bonds would be issued
thereunder pursuant to the provisions of the Improvement Bond Act of
1915, reference to said Resolution of Preliminary Determination and
of Intention, as amended, hereby being expressly made for further
particulars;
WHEREAS, notice of she recordation of the assessment and of
the time within which assessments may be pa idtin cash, has been duly
published and mailed ire the manner provided by law, ' and the time so
provided for receiving the payment of asseesmenta in cash has expired,
and the City Treasurer has signed and filed in hia office a list of
all assessments whichnow 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" here-
to 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,
reference is hereby made to the assessment and to the diagram recorded
in the offices of the Superintendent of Streets of said City and the
County Surveyor of the County of Santa Clara 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 respectively.
3. The unpaid list is in the amount of $612,768.03 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 10 of the Streets and Highways Code) and under and
pursuant to the provisions of said Resolution of Preliminary Deter-
mination and of Intention, as amended, and the proceedings thereunder
duly had and taken; that said bonds shall be six hundred thirteen
(613) in number, shall be dated December 4, 1967, 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
assessments as shown on said list tiled 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 maid bonds and of the interest which may be due there-
on, which unpaid assessments shall be taxable in annual series cor-
responding 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 installments as the general taxes of said City on real property
2
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 lithographed
signature, and the seal of said City may be affixed to each bond
by printed, lithographed or other reproduction thereof. 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, to wit:
THE CITY OF PALO ALTO will pay to
bearer hereof at the Bank of America
N. T.. & S. A., Main Office, San
Francisco, Calif., paying agent of the
City, or at the designated correspondent
banks of said paying agent in New York,
N.Y. and Chicago, Ill., the sum shown
hereon, being interest then due on
Improvement Bond E1 Camino Real
Widening Project 64-1
Series YYY
Treasurer of the City or Palo Alto
On the 2nd day of
, 19
Coupon No.
Bond No.
7. That the City Clerk shall forwardtothe City Treasurer and
City Auditor a certified copy of this resolution.
* ♦ * • * • * * • * * * *
3
1 •
EXHIBIT "A"
LIST OF UNPAID ASSESSMENTS
CITY OF PALO ALTO
EL CAMINO REAL WIDENING PROJECT
PROJECT 64-1
Assessment
Number
Assessor's Amount of Ass'd Val'n
Parcel No. Assessment Land Impvt
1 132-39-61 $2,411.26
2 132-39-58 3,806.40
33 132-39-57 2,737.68
132-39-56 3,577.99
5 132-X4+00-16 2,539.97
6 132-40-15 2,513.16
132-40-14
132-40-13 2,514.97
2,5gg 8
10 132-40-40 4,488.45
11 132-35-44 5,075.98
12 Por 142-20-46 7,730.93
13 137-8-1 15,416.49
137-8-67)
14 137-8-71 6,830.16
16 137-8-16 2,582.59
18 137-8-20 4,553.04
19 137-8-34 4,648.35
20 137-8-35 3,71 .51
21 132-41-17 1,284.72
24 132-41-71 4,66.78
25 132-41-52 2, .11
26 132-41-26) 4,932.15
132-141-51)
27 132-41-50 4,632.88
28-A 132-41-80 5,816.53
29 132-42-5 11,326.90
30 132-42-4 2,44 .69
32 137-11-54 6,040.95
ii
137-11-56137-11-55 2,157.01
2,157.01
356 137 11-58 2,157.01
77 - 5t;� 21157.01
38 137-11-6o 2,157.01
49 137-11-61
1 137-11-63 1,941.31
42 137-11-64 3,049.63
1,941.31
144 137-11-66 2, 912.37
46 137-11-68 3,864.81
48 132-42-63 6,196.29
132-42-64)
49 132-42-62 6,616.91
50 132-42-1 9,640 22
54 132-46-92 6,241.75
55
i321b 91 4,831.61
- -8
gg 2,1478.71
57 132-46-88 2,928.37
58 132-46-87 2,546.37
59 137-11-70 5,3$1.99
60 137-11-72 18,717.13
61 137-23-2 11,060.09
63 137,-23-4 2,047.44
l
$6,510 $
9,90082 7,080
8,910 16,300
6,420 3,210
6,140 1,120
6,140 12,080
6,830 1,320
10,830 10,560
12,590 5,470
41,4450 6,500
26,290 0,470
24,410 6$, 440
16,990 11,850
1,820 1,500
14,250 34,200
14,250 5,860
6,610 3,080
3,570 2,300
14,360 170540
7,180 3,010
13,280
6,?90 6,510
14,210 5,800
15,190 12,030
43,600 57,030
7,020 6,180
14,400 10,570
5,340 4,6630
5,340 740 ,880
5,340 2,450
5, 310 150
7,050 9,000
4,810 1,590
4,810 3,670
7,210 5,300
9,290 4,270
11,600 45,560
13,20066 55,760
35,480 24,230
13,730 9,040
13,080 19,100
5,620 1,400
7,120 560 6,040 50
11,750 0,8320
77,000 31,300
34,930 X9,530
Assessment
Number
Assessor's Amount of Ass'd Val'n
Parcel No. Assessment Land Impvt
65 137-23-17 $9,552.31
66 137-23-18 7,32 .63
67 132-46-58 6,724.70
68 132-46-57 8,803.42
69 132-46-56 3,549.90-
73 132-46-399 4,064.32
74 132-46-74 5,489.13
75 137-24-20 10,548.17
13? -24-213
76 137-24-2 12,606.51
77 137-24-3 6,976.92
79 137-24-11 11,039.66
137-24-16
3
81 147-47-30 58,268.97
82 147-47-16 14, 84.28
84 147-47-15 35,555.33
8 167-8-22 6,291.5
85 167-8-13 4,838.12
86 167-8-14 9,642.03
87 167-8-15 6,912.19
88 167-8-16 5,739.82
89 167-8-17 4,702.18
90 167-8-18 5,266.43
91 167-8-19 7,053.26
92 167-8-23) 11,779.49
167-8-24)
167-8-21 9c� .91
9 147-47-13 12,567.70
95 147-47-2 14,071.53
96 147-47-29 5,034.13
97 147-49-24 10,2 1+8.96
98 147-49-4 8,588.954
99 147-49-3 15,245.98
100 147-49-2 23,607.75
101 167-9-2 37,699.91
$15,290 $13,420
16, 200 4,680
19,18o 9,1400
16,920 930
4,15o 4,680
9,690 11,76o
15,120 6,310
18,730
7,750
27,200
10,320 2,830
13,700
13,530 2,930
240,950 583,520
54,380 13,020
121,050 132,000
20,170
12,530 8,120
24,620
17,050 17,080
14,400 4,750
11,600 17,250
12,990 21,860
17,400 21,570
23,050
15,170 20,52o
11,290
55,490 66,370
340660 22,680 38,0007,40
23,430 12,330
020 5
46,390 84,858o
74,200 56,000
147,620 756,120
$612,768.03 $ 1, 913,x$2,658,920
EXHIBIT "B"
Series Bond Nos. Principal Amount
YYY 1 $ 768.03
2 - 13 12,000.00
14 - 43 30,000.00
44 - 73 30,000.00
74 - 108 35,000.00
109 - 143 35,000.00
144 - 178 35,000.00
179 - 218 40,000.00
219 - 258 40,000.00
259 - 303 45,000.00.
304 - 348 45,000.00
349 - 393 45,000.00
394 - 443 50,000.00
444 - 498 55,000.00
499 - 553 55,000.00
554 - 613 60,000.00
Date of Maturity
July 2, 1969
July 2, 1969
July 2, 1970
July 2, 1971
July 2, 1972
July 2, 1973
July 2, 1974
July 2, 1975
July 2, 1976
July 2, 1977
July 2, 1978
July 2, 1979
July 2, 1980
July 2, 1981
July 2, 1982
July 2, 1983
•
•
I hereby certify that the foregoing is a full, true and
correct copy of a resolution duly passed and adopted by the
Council of the City of Palo Alto, California, at a meeting
thereof held on the 6th day of November , 1967, by the
following vote of the members thereof:
AYES, and in favor thereof, Councilmen:
Arnold, Beahra, Berwald, Clark, Comstock, Cooley, Bias,
Gallagher, Pearson, Spaeth, Wheatley
NOES, Councilmen: None
ABSENT, Councilmen : None
APPROVED: