HomeMy WebLinkAboutRESO 4482• I
that
• ~:KJmh 7-16-71-25
ORIGll'-~AL· -
RESOLUTION NO. 4482
A RESOLUTION DETERMINING UNPAID ASSESSMENTS
AND PROVIDING FOR ISSUANCE OF BONDS
EMBARCADERO WAY EXTENSION
ASSESSMENT DISTRICT
PROJECT NO. 70-61
RESOLVED, by the Council of the City or Palo Alto, California,
-WHEREAS, said Council tlid, on April 19, 1971, pass and adopt
its Resolution of Intention No. 4445, relating to the-acquisition
and construction of public improvements in said City under and pur-
suant to the provisions of Chapter 13.12 of the Palo Alto Municipal
Code, and did therein provide that serial bonds would be issued
thereunder pursuant to the provisions of Bond Plan B, Section
13.16.110 of Chapter 13.16 of said Code,.reference to said Resolu-
tion of Intention hereby being expressly made for further particulars;
WHEREAS, notice or the recordation of the assessment and of the
time within which assessments may be paid in cash has been duly pub-
lished and mailed in the manner provided by said Code, and the time
so provided for recei vh.g the payment of assessments in cash has
expired, and the City Treasurer has filed in his office a list of
all assessments which now 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, refer-
ence is hereby made to the assessment and to the diagram recorded in
the office of the Superintendent or Streets of said City after the
• •
confirmation by said Council, the several lots represented by said
assessment numbers being so numbered and designated upon said dia-
gram and assessment as so confirmed and recorded, severally and
respectively.
3. The unpaid list is in the amount of $21,989.92, and bonds
shall be issued upon the security of said unpaid assessments in said
amount in accordance with the provisions of Bond Plan B of the Palo
Alto Mt.micipal Code and under and pursuant to the provisions of said
Resolution of Intention and the proceedings thereunder duly had and
taken; that said bonds shall be twenty-two in number, shall be dated
September 3, 1971, and bear interest from their date at the rate of
not to exceed seven percent (7~) per annum, and the denomination of
said bo~ds with their respective numbers and dates of maturity are
are as sho')fll on Exhibit "B" hereto attached and made a part hereof
by reference.
4. That said bonds shall be issued in series, and the unpaid
assessments as shown on said list filed with the City Treasurer and
determined by said Council, together with the interest thereon,
shall remain and constitute a trust fund for the redemption and pay-
ment of said bonds and of the interest which may be due thereon,
which unpaid assessments shall be taxaole in annual series corre-
sponding 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 is-
sued, and such proportion of each assessment ~omin~ due in any year,
together with the annual interest thereon, shall in turn be payable
in installments as the general taxes or said City on real property
are payable, and shall become delinquent at the same time and in the
same proportionate amounts and bear the same proportionate penalties
for delinquency.
2
J • •
5. The bonds shall be executed on behalf of the City and
under its official seal by the Clerk and Treasurer of the City. The
Clerk's signature and the seal may be affixed by engravect;--pr-irited,
lithographed or other reproduction thereof. The interest coupons
affix thereto shall be signed by said Treasurer and for such pur-
poses the Treasurer may use an engraved, printed or lithographed
facsimile in lieu of signature by hand. Such signing and sealing of
said bonds by said officers and signing of said coupons by said
Treasurar 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 said Bond Plan B. Said Treasurer and Clerk of this 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 consec-
utively and be substantially in the following tonn, to wit:
The CITY OF PALO ALTO will pay to
bearer hereof at the Office of
the City Treasurer, Palo Alto,
Califoniia, the sum shown hereon,
being interest then due on
Improvement Bond Embarcadero Way
Extension Assessment District,
Project No. 70-61, Series F
Treasurer of the city ot Palo Alto
On the 2nd day of
~~-----' 19~
$ ___ _
Coupon No.
Bond No.
7. The City Clerk of this City shall forward to th~ City
Treasurer and to the County Director of Finance a certified copy
of this resolution.
* * * * * *
3
I
. . • •
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 therec:f'
held on the ~ day of __ J_ul .... Y _____ , 19_!!_, by the following
vote of the members thereof:
AYES, and in favor thereof, Councilmen: Beahrs, Clark,
Comstock, Dias, Henderson, Norton, Pearson, Rosenbaum
NOES, Councilmen: None
ABSENT, Councilmen: Berwald
APPROVED:
o:Jh.w~ Mayor
APPROVED:
0
~,{~ .
a4~J (14 ~1>~. .
'f~~~f(l_,u:L.J,) ··.
~ .
K_··J~ (~_)
i /; • J.: . .,;.... . /.fltA.t.<..,t, .. /--,.(~-.,. ... _._ .. ,
""" ~,..,,--r.
/-t:~
•;
. .
Assessment
Number
1
3
Series
F
•
EXHIBIT 11 A11
E.\ffiARCADERO WAY EXTENSION
ASSESSMENT DISTRICT
PROJECT NO. 70-61
LIST OF UNPAID ASSESSMENTS
Bond Numbers
Assessor's
Parcel Number
8-03-68
8-03-69 and
8-03-70
EXHIBIT "B"
•
(Inclusive~ PrinciEal Amount
1 $ 989.92
2 -3 2,000.00
4 -5 2,000.00
~ 7 2,000.00 ...
8 9 2,000.00
10 -11 2,000.00
12 -13 ·2,000.00
14 -16 3,000.00
17 -19 3,000.00
20 -22 3,000.00
* All bonds &re in the denomination of $1,000.00
with the exception of Bond No. 1.
Amount of
Assessment
$ 7,660.13
142329.79
$ 21,989.92
Date of
Maturitl
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