HomeMy WebLinkAboutRESO 34584.
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WHAM:) 12/4/61
ORI GINA L
RESOLUTION NO. 3458
A RESOLUTION DETERMINING UNPAID ASSESSMENTS AND PROVIDING
FOR ISSUANCE OF BONDS
EL CAMINO REAL
PROJECT NO. 61-1
RESOLVED, by the Council of the City of Palo Alto , C alifo rnia, that
WHEREAS, said Council did on D ecembe r 14, 1960, pass and ad opt its
Resolution No. 3327 of Preliminary Determin ation a nd of Intentio n relating
to the acqu isition and construotion of public impro vements in s aid City
under and pursuant to the provisions of Article 4, Chapter 5 of the Palo
Alto Impro vem ent Procedure Code, and did th er ein p rovide that s erial bo nds
wou ld be issu ed thereun der pur suant to the pro visi ons of Bond Pla n B of
Article 3, Chapter 6 of said Code, reference to s aid Resol utio n of Pre-
limina ry Determin ation and of Inten tion hereby being expressly made for
further pa rticulars;
WHEREAS, notice of the re cordation of the assessment and of the
time within which assessments ma y be paid in cash ha s been duly published
an d mailed in the manner pro vided by said Code, and the time so pro vided
for receiving the payment of a ssessments in cash has expired, and on
December 7, 1961, the Superintendent of Streets has filed with the City
Treasurer a list of all assessm en ts which now remain u npaid; and
WHEREAS, the Council has duly considere d said list and has de-
termined that the same is an accurate statemen t thereof;
NOW, THEREFORE, IT IS HEREBX ORDERED, as follows:
1. That the assessments in said u npaid list which no w rema in un-
paid, an d the aggregate thereof, are as show n on Exhibit " A" hereto
attached a nd by reference made a pa rt her eof.
2. That for a par ticular description of the loth bearin g the re-
spective a ssessment n umber s se t forth in said un paid list an d upon which
assessments rem ain unpaid, severa lly and r espectively, refe rence is here-
by m ade to the assessm ent an d to the diagram recorded in the office of
the Superintendent of Str eets of said City after confirmation by said
Council, the several lots represen ted by said assessment numbers being so
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numbered and design ated upon said diagram and assess me nt as so confirmed
and reoorded, se verally and respectively.
3. The unpaid list is in the amo unt of $30,962 .08 and bond's shall
be iaau ed u pon the security of said unp aid aaeess menta in the amo unt of
$30,962.08 in accordance with the provisions of Bond Plan B of Articl e 3,
Chapter 6 of Ordinance No . 1928 adopted by th e City Council of said City
on April 11, 1960, entitled "Palo Alto Improv eme nt Procedure Code", and
under an d pursuant to the provisions of s aid Resolution of Preliminary
Determina tion and of In tention and the proceedings thereunder duly had
and taken; that said bonds shall be thirty-o ne (31) in nu mber, shall be
dated Dece mber 29, 1961, and bear interest from their dat e at the rate
of n ot to ex oeed six per oent (6%) per annum, a nd the denominati on or said
bo nds w ith their respective numbers and dates of mat urity are as shown
on Ex hibit "B" hereto attached and made a part hereof by referenc e.
4. Sa id bonds shall be issued in series, and the unpaid assessments
05 sho wn on said list filed with the City Treasurer of said City a nd d
::ermin ed by &aid Council, together with the in terest thereon, sh all re-
main an d constitu te a tru st fun d for the redemption and payment of said
bonds and of the interest whioh may be du e thereon, which un paid asaese-
ments shall be taxable in an nu al series corresponding in n umber to the
number of series of bon ds issu ed, an d an a nnua l propo rtion of ea ch
a eseasment shall be payable in ea ch year preceding the date of the m atur-
ity for each of the several bonds issued, an d such proportion of ea ch
assessment com in g due in any year, together with the annua l interest
thereon, shall in turn be payable in in sta llments as the gen eral taxe s of
said City on real proper ty are payable, and shall become delinquent at the
sam e tim e and in the same proportio nate amoun ts and bear the sam e propor-
tionate penalties for delinqu en cy.
5. Said bonds shall be signed by the City Clerk a nd City Treasu rer
or bear the en gra ved, prin ted or lithographed signatu re of sa id Tr easurer,
and the o fficial seal of said City sha ll be affixed the reto. The int-
erest coupons affix ed the reto shall be signed by said Trea surer or bear
his e ngrave d, printed or lithogra phed sign atu re; and such signing and
sealing of sa id bon ds by said officers and signing of said cou pon s by said
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Treasurer shall constitute and be a s ufficie nt a nd binding executio n of each
and ev ery one of said b onds and all of the coupons th ereon resp eotively.
Said bonds shall be s ubstanti ally in the form set fo rth in Bond Plan B of
said Improvement Procedure Code. Said Clerk and Treasurer of said City are
a uthorized an d directed to sig n said b onds.
6. The interest co upons attached to each of said bonds a nd evidenc-
ing the interest to accrue th ereon shall be numbered consecutively and be
substantially in the following f orm, to -wit:
CITY OF PALO ALTO
SANTA CLARA COUNTY, CALIFORNIA
Cou pon No.
Will pay to bea rer hereof on the 2nd day of , 19
at the office of the City Treasurer of th e City of Palo Alto,
the sum of Dollars ($ ) said s um bei ng the
semi-annual interest due on
Improv ement Bond No.
of Series No. PPP
Treasu rer of the 'City of P alo Alto
7. That the City Clerk sha ll forw ard to the City Treasurer and
City Controller a cer tified copy of this Resolu tion.
I hereby certify tha t the foregoin g is a full, tru e and ccrrect copy
of a resolution duly passed and adopted by the City Council of the City of
Palo Alto, California, at a m eeting thereof held on the llth day of
December, 1961, by the following vote of the membere the reof:
AYES, an d in favor thereof, Coun cilmen:
Ar no ld, Byxbe e, De ba, Dias, Evans, Ha ight, Marshall, Por ter ,
Rodger s, Rohr e, Rua, Stephens, Wo odwar d, Zwe ng.
NOES, Cou ncilmen:N on e.
ABSENT, Councilmen: Bishop.
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City Clerof the ty of
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EXHIBIT "A"
LIST OF UNPAID ASSESSMENTS
CITY OF PALO ALTO
EL CAMINO REAL WIDENING
PROJECT 61 - 1
Ase't Assessor's Amou nt of Assessed Valu ati on
No. Parcel No. Assessment La nd Impro veme nts
5 153 E, G $ 2,180.69 $ 22,990 $ 5,92o
6 153 H, L, N 732.13 37,170 28,150
7 154, 155 A 601.83 6,600 8,36o
9 172-176, 177 A 811.18 16,660 11,590
10 191 - 195 4,861.95 318,840 459,960
12 6731-6735, 5081 1,206.53 12,360 16,860
16 6422 A 297.20 3,500 1,400
23 6522 279.14 4,600 7,390
24 6523 A 139.50 2,070 4,67o
27 6526, 6527 558.27 8,000 8,430
29 6613 279. 08 4,140 2,260
30 6614 - 6617 837.25 15,400 59,980
34 6650 A, 6650 B 269.10 4,740 1,640
35 6651 261. 02 3,590 3,570
37 6856 A, 6856 B 216.14 3,400 6,040
4o 6350 A -B -C, 6351 A -B, 6352 1,375.05 29,040 62,77o
41 636o, 6361 A, 6362 578.93 11,60o 13,570
43 6388, 6389 E 785.17 13,390
44 6389 A, 6390 824.04 14,670 1,920
45 6400 A 273. 99 4,420 6,190
51 6766 424.24 6,220 4,870
52 6767 1 400. 85
53 6768 C 481.02
54 6843 - 6845 1,319.50
56 6874 B, 6875 585.20
57 6909, 6910 850. 93
14,030 29,070
25,150
9,350
12,110
22,74o
7,120
9,680
Asst Assessor's Amou nt of Assessed Val uatio n
No. Parcel No. Assessment La nd Imp ro veme nts
61 6949, 6950 A $ 430 .72 $ 6,470 $ 4,160
64 6969 , 6970 549.83 8,260 7,660
65 6971, 6972 549 .72 8,260
70 7202 275.21 4,130 2,110
74 7343 E 798.69 8,750 32,260
75 7343 D 1,988.88 14,350 3,78o
80 21000 C 553.50 21,600 51,300
81 21000 E 553 .50 20,160 12,000
82 A 21000 0, H 615.00 48,240
88 7122, 7123 573.50 8,630 27,170
89 7124 286.75 4,310
90 7125 - 7127 286.86 9,810 4,500
91 7144 - 7146 861. 50 12,920 36,100
92 7147 287.18 3,730 7,60o
94 7149 A 287. 18 4,570 4,690
95 7150 634.11 9,78o 1,570
$30,962.08 $798,010 $979,050
EXHIBIT "B"
Series Bond No . Denominatio n Date of M atu rity
PPP
1 $1,000.00 July 2, 1963
2 1,000.00 J uly 2, 1963
3 1,000.00 J uly 2, 1963
962.08 J uly 2, 1963
5 1,000.00 J uly 2, 1964
6 1,000.00 July 2, 1964
7 1,000.00 July 2, 1964
8 1,000.00 July 2, 1965
9 1,000.00 J uly 2, 1965
10 1,000.00 J uly 2, 1965
11 1,000.00 July 2, 1966
12 1,000.00 J uly 2, 1966
13 1,000.00 J uly 2, 1966
14 1,000.00 July 2, 1967
15 1,000. 00 July 2, 1967
16 1,000.00 July 2, 1967
17 1,000. 00 July 2, 1968
181,000.00 July 2, 1968
19 1,000.00 July 2, 1968
20 1,000.00 July 2, 1969
21 1,000.00 July 2, 1969
22 1,000,00 July 2, 1969
23 1,000.00 July 2, 1970
24 1,000.00 July 2, 1970
25 1,000.00 July 2, 1970
26 1,000.00 July 2, 1971
27 1,000.00 Ju ly 2, 1971
28 1,000.00 July 2, 1971
29 1,000.00 July 2, 1972
30 1,000.00 July 2, 1972
31 1,000.00 Ju ly 2, 1972