HomeMy WebLinkAboutRESO 42341
ORIGINAL
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RESOLUTION NO. 4234
A RESOLUTION DETERMINING UNPAID ASSESSMENTS
AND PROVIDING FOR ISSUANCE OF BONDS
STANFORD INDUSTRIAL PARK
UNDERGROUND UTILITIES CONVERSION
PROJECT NO. 68-83
RESOLVED, by the Council of the City of Palo Alto, California,
that
WHEREAS, said Council did, on December 2, 1968, pass and adopt
its Resolution No. 4183 of Preliminary Determination and of Intention,
relating to the acquisition and construction of public improvements
in said City under and pursuant 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 Title 13 of said Code,
reference to said Resolution of Preliminary Determination and of
Intention hereby being expressly made for further particulars;
WHEREAS, notice of 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 receiving 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, reference
is hereby made to the assessment and to the diagram
mod.
Cc5
recorded in the
dAe-
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office of the Superintendent of Streets of said City after confirma-
tion by said Council, the several lots represented by said assessment
numbers being so numbered and designated upon said diagram and assess-
ment as so confirmed and recorded, severally and respectively.
3. The unpaid list is in the amount of $163,824.45, and bonds
shall be issued upon the security of said unpaid assessments in said
amount in accordance with the provisions of Bond Plan B, Section
13.16.110 of Chapter 13.16 of Title 13 of the Palo Alto Municipal Code
and under and pursuant to the provisions of said Resolution of Prelimi-
nary Determination and of Intention and the proceedings thereunder duly
had and taken; that said Londs shall be one hundred sixty-four (164)
in number, shall be dated May 2, 1969, 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 date of
maturity are as shown 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 payment of
said bonds and of the interest which may be due thereon, which unpaid
assessments shall be taxable in annual series corresponding 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 propor-
tion 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 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
5. Said bonds shall be signed by the Clerk and Treasurer of
the City. The Clerk's signature may be engraved, printed or litho-
graphed, and the official seal of the City shall be affixed thereto
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 sufficist 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 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 On the 2nd day of
bearer hereof at the Bank of America
N.T. & S.A., Main Office, San Francisco, , 19
California, paying agent of the City,
or at the designated correspondent
banks of said paying agent in New York, $
New York, and Chicago, Illinois, the
sum shown hereon, being interest then
due on Improvement Bond, Stanford Coupon No.
Industrial Park Underground Utilities
Conversion Project No. 68-83, Series B Bond No.
Treasurer of the City of Palo Alto
7. The City Clerk shall forward to the City Treasurer and to
the County Director of Finance a certified copy of this resolution.
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EXHIBIT "A"
LIST OF UNPAID ASSESSMENTS
CITY OF PALO ALTO
STANFORD INDUSTRIAL PARK
UNDERGROUND UTILITIES CONVERSION PROJECT NO. 68-83
Assessment
Number
Assessor's Amount of
Parcel No. Assessment
2 142-20-13 $ 394.38 $
3 142-20-14 394.38
5 142-20-48 1,134.70
6 142-20-16 2,731.34
7 142-20-17 969.58
10 142-20-10 2,048.33
11 142-2o-19 5,601.19
13 142-20-20 1,364.65
14 142-20-8 2,175.25
1
142-20-7 2,046.97
8 142-20-5 2,046.97
20 142-20-56 ,357.83
23 142-19-8 1,181.78
25 142-19-10 635.24
26 142-19-11 735.35
28 142.18-31 2,933.30
34 142-20-23 343.21
35 142-2o-24 173.99
37 142-20-60 1,686.02
38 142-2o-66 9,573.00
39 142-20-52 3,337.24
40 142-20-35 820.84
41 142-20-54 517.20
42 142-20-55 191.73
43 142-20-37 420.99
44-A 142-20-65 335.71
45 142-20-39 729.40
47-A 142-20-62 124.87
53 142-19-7 2,865.08
54 142-19-6 2,683.58
57 142-19-19 2,330.82
58 142-19-20 2,139.08
59 142-19-18 3,457.33
60 142-18-45 21,030.57
61 142-18-7 31,906.12
64 142-18-42 5,062.17
68 142-18-40 2,196.40
74 142-18-32 6,219.38
75 142-18-34 3,681.13
76 142-18-11 1,777.45
77 142-18-23 1,705.81
78 142.-18-36 3,037.02
779 142-18-37 1,711.27
8G 142-18-38 1,847.73
82 142-1777-14 11,056.37
8 142-18-1414- -24 40
1,434.93
86 142-18-16 2,092.00
87 142-18-17 2,617.39
88 142-18-18 1,876.38
90 142-18-20 143.29
91 142-18-35 136.46
92 142-18-33 167.85
$163,824.45
Assessed Valuation
Land Impvts
27,740 $ 52,940
27,740 48,870
76,200 420,000
P/A/Unified School Dst.
31,340
43,150
115,000
28,750
45,820
43,120
43120
28, 600
24,900
13,380
16,540
57,500
14,230
7,110
43,050
183,340
170,440
34,060
25,150
9,080
20,000
4,270
15,37700
1,5
60,770
56,530
49,100
34,140
33,110
295,370
590,700
87,260
42,070
111,170
58,750
34,040
32,670
58,170
32,770
35,390
211:750
87,240
27,480
18,700
26,740
19,170
1,2lo
30
1,070
70,210
835,100
96,65o
52,500
62,260
41,450
53,240
25,750
117,430
139,050
35,000
5o
.0011,
19,510
7,860
28,940
40,760
144,670
276,100
MDMIP
2,601,900
172,150
238,100
325,100
74,000
123,050
189,150
63,700
85,550
809,340
327,900
51,590
28,960
83,250
2,950
OM
$3,159,870 $7,745,030
$10,904,900
- EXHIBIT "B"
Series Bond Numbers Principal Amount Date of Maturity
B 1 $ 824.45 July 2, 1970
2 - 9 8,000.00 - July 2, 1970
10 - 19 10,000.00 July 2, 1971
20 - 29 10,000.00 July 2, 1972
30 - 39 10,000.00 July 2, 1973
40 - 54 15,000.00 July 2, 1974
55 - 74 20,000.00 July 2, 1975
75 - 94 20,000.00 July 2, 1976
95 - 114 20,000.00 July 2, 1977
115 - 139 25,000.00 July 2, 1978
140 - 164 25,000.00 July 2, 1979
• •
Y 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 there-
of held on the 21st day of April , 1969, by the
following vote of the members thereof:
AYES, and in favor thereof, Councilmen: Arnold, 13eahrs, Berwald,
Comstock, Dias, Gallagher, Gullixson, Pearson, Spaeth, Wheatley
NOES, Councilmen:
None
ABSENT, Councilmen: Clark
APPROVED:
Mayor
APPROVED:
o •a o