HomeMy WebLinkAboutCC Res 141 1925-10-15
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RESOLUTION NO.
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A Resolution determining the unpaid assessments:'_
for the work done and iuprovement made u~on a
portion of Bay Boulevard and the aggregate
amount thereof; that bonds be issued upon the
security thereof; presoribing the denomination
of said bonds and providing for the issuanoe of
the same in annual series.
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dated the ~ day
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a warrant and assessment
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1925 was issued for the work done and improvement
portion of Bay Boulevard, an open publio street in the
City of Seal Beaoh, California. whioh work and improvement is
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briefly desoribed in Resolution of Intention No. 124 passed on the
13th day of November. 1924. and ordered done and made by resolution
No. 128 passed on the 15th day of January. 1925. and was done and
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made by Griffith Company. a oorporation. under a oontraot awarded
to them on the 19th day of February, 1925; and.
WHEREAS; on the 24th day of September. 1925. being after
the full expiration of thirty days from the date of the warrant
and no appeal having been taken as provided by the Improvement Aot
of 1911. and said warrant and assessment being returned and reoorded
by the Street Superintendent of the City of Seal Beaoh and after
said return was reoorded the street Superintendent made up and filed
with the Clerk of the City of Seal Beaoh as Clerk of the Board of
Trustees thereof a complete list of all unpaid assessments and said
Clerk thereupon gave notioe of the filing of e~id list and that
'eight o'olook P. M. of Thursday. the 15th day of October. 1925. at
the Counoil Chamber of the Board of Trustees of the City of Seal
Beao~ was the time therein fixed by her when interested persons
might appear before the City Counoil and show oause why bonds shall
not be issued upon the seourity of the unpaid assessments shown on
said list. by posting said notioe oonspiouously near the oounoil
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ResolutionlN~mber
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ohamber door of the City of Seal Beaoh, on the 25th day of September.
2 1925 and said notice remained there posted until the 15th day of
3 Ootober. 1925, and by publishing said notioe twioe in the Seal Beach
4 Post and Wave. a weekly newspaper, published in the City of Seal
s Beaoh, ~o-wit. on the 1st and 8th days of October. 1925. the first
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6 publication of whioh was more than five full days before the time
7 therein fixed for suoh hearing. and.
8 WHEREAS, the Board of Trustees pf the City of Seal
9 Beaoh was in session and duly oonvened at the time and plaoe in the
10 said notioe specified and provided to hear any o~jeotlons presented.
11 and no interested or any person appearing tc show oause or did show
12 oause why bonds should not be i8Sued upon the security of' the unpaid
13 assessments. or objeoted the~eto;
14 IT IS. THEREFORE. NOW, BY THE BOARD OF TRUSTEES OF
15 THE CITY OF 'SEAL BEACH, DETERMINED. RESOLVED AND ORDERED AS FOLLOWS:
16 First: Ths assessments whioh are unpaid for the work
1'1 done a.nd imprOvement ma.de upon a portion of Bay. Boulevard. whioh
18 work andimprovement was briefly desoribed in ReSolution of Intention
1/ 19 No. H4 p~sse\ on the 13th day 0 f, Nov~mber, 1924 and ordered done and
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made by Resolution No. 128 passed on the 15th day of January. 1925.
are as follows:
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The aggregate amount of the unpaid assessments for the
work done and improvement made upon a portion of Bay Boulevard is
$11,343.83. and this amount is the aggregate of the following unpaid
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25 assessments numbers
26 assessment. to-wit:
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shown in red upon the warrant diagram and
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, ~eSolutio~umber
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DESORIPTION OF ASSESSMENTS
1 ASSESSMENT NO. PROPERTY DUE AND UNPAID
I 2 Lot Block Tract
Trao'!; No. 10 as
3 per Map.of Reoord.
Orange 00. Reoords
4 1 5 218 10 $ 10.68
2 6 218 10 10. 68
5 3 7 218 10 10.68
4 8 218 10 889.30
6 5 9 218 10 334.55
6 11 218 10 191.07
7 7 13 218 10 191.07
8 15 218 10 192.66
8 9 17 218 10 200.71
10 19. 218 10 193.66
9 11 21 218 10 194. 92
12 23 a18 10 197.06
10 13 25 218 10 211.28
14 27 218 10 1 91.07
11 16 29 218 10 202.37
16 31 218 10 224.32
12 17 33 218 10 224.19
18 35 218 10 201.66
13 19 37 218 10 230.38
20 39 218 10 197.66
14 21 41 218 10 197.13
I 22 43 218 10 197.13'
15 23 45 .218 10 199.18
24 47 218 10 197.13
If, 25 49 218 10 221.74
26. 61 218 10 203.91
17 27 63 al8 10 197.13
28 55 218 10 200.99
18 29 57 218 10 216.6B
30 69 218 10 197.13
19 31 61 218 10 246.32
32 1 217 10 310.80
20 33 3 217 10 250.90
34 6 217 10 250.91
21 35 7 217 10 250.91
36 9 217 10 250.91
22 37 11 217 10 250.91
23 38 13 217 10 250.91
39 15 217 10 250.91
24 40 17 217 10 250. 91
41 19 217 10 261.30
25 4a 21 217 10 261.30
43 23 217 10 "261.30
26 44 25 217 10 261.30
46 27 217 10 261.30
I 27 46 29 217 10 261.30
47 31 217 10 261.30
28 4B 33 217 10 261.30
49 35 217 10 360.92
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30 Total-----------$11.343.83
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ReSoluti~umber
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And this Board having heretofore ordered that the
last installment of said bondS shall matu:r:e fou:r:teen years from the
2nd day of July next suooeeding ten months from their date.
Seoond: Bonds shall be issued upon the seourity of
the unpaid assessments phown on the list thereof as hereinbefore'
determined. for the aggregate prinoipaJ. of the sum of unpaid
assessments, to-wit: $11.343.83, payable to the GRIFFITH COMPANY. or
bearer. and shall be payable in fifteen (15) annual series on the
2nd day of July of eaoh y~a.r next suooeeding ten months after their
date until the whole sum of the aggregate prinoipal thereof is paid.
Said bonda and eaoh of them shall bear interest at the rate of 7"/0
per annum from the 24th, day of September, 1925, the date of the
filing with the Clerk of the City of Seal Beaoh of the Street
Superintendent's list of unpaid assessments. until the whole sum of
the prinoipal and the interest is paid. The interest ehall be paid
semi-annually by ooupons on the and day of Jamary and July
respeotively. of eaoh year after the date of the bonds. provided.
that the first payment of interest shall not beoome due until the
2nd day of January. 1927. being six months before the maturityof
the first annual seriss of the bonds.
The bonds and interest shall be paid at the offioe
of the Treasurer of the City of ,Seal Beaoh in said City. County of
Orange. State of Oaliforni&.. on the presentation of the proper ooupons
and bonds. out of the redemption fund and underno oirc'UIllstanoes shall
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said bonds or1ut-erest thereon be pa.id out of any 0 ther fund.
A :r:edemption fund shall be kept by the Treasurer of
the City of Seal Bea.oh designated "A Portion of Ba.y Boulevard
Redemption Fund". in whioh the Trea.surer shall plaoe all sums reoeived
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from, the oolleotion of assessments made for the payment of the ooat
of the work and improvement upon whioh the bonds are issued and the
interest and penalties thereon. All of sa.id bonds shall be dated
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ReSolutiotjNUmber
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the 15th day of Ootober. 1925 and shall be munbered oonsecutively
2 from one (1) to thirty (30) inclusive. All odd numbered bonds shall
3 be in the d~nomination of $500.00 eaoh and all even numbered bonds
4 shall be in the denomination of $255.25 eaoh. exoept bond numbered
5- 30 whioh shall be in the denomination of $256.33.
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, The form of the bonds shall be substantially as
7 provided by Seotion 6 of the "Improvement Bond Aot of 19150; provided.
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8 that the same shall aontain the appropriate words and figures to
9 make the said bonds and. the form thereof applioable to the
10 denomination. annual series and purposes 'for whioh the bonds are to
11 be issued as herein set forth. The bonds shall ~e signed by the
12 Trea.surer and Clerk of the City of Seal Beaoh.
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There shall be attaohed to eaoh bond interest coupons
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14 representing the payments of semi-a.nnual interest, and made paya.ble
15 upon the prinoipal of the bonds to whioh they are attaohed; all of
16 sa.id bonds shall be signed by the Treasurer of the City of Seal Beaoh.
17 but the Treasurer's signature may be engraved. printed or lithographed
18 on the interest ooupons in pla.oe of the Treaau:r:er's signatu:r:e by
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The interest ooupons shall be oonseaut1vely
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numbered from 1 upward on eaoh bond; a.nd the interest thereby re-
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presented shall be paid on'lthe 2nd day of January andJuly suooeeding
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the 24th day of September, 1925; provided. that the ooupons
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representing the first payment of interest ehall beoome due the 2nd
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day of January. 1927, being six'montha before the maturity of- the
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first annual series of the bonds and shall be for interest aocruing
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thereon from the 24th day of September, 1925 to said date.
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Bonds numbered 1 and 2 'shall constitute annual series
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No.1. and shall fall due and be payable on the 2nd day of July. 1927.
being the 2nd day of July next suooeeding ten months from the 15th
day of Ootober. 1925. the date of said bondS.
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Resolution ~er
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Bonds numbered 3 and 4 shall constitute annual
series No. 2 and shall fall due and be payable on the 2nd day of
July. 1928.
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4 Bonds numbered 5 and 6 shall constitute annual series
5 No. 3 and shall fall due and be pa.yable on the 2nd day of July. 1929.
6 Bonds nullbered 7 and 8 shall oonsti tute annual series
7 Nq. 4,and ,shall fall due and De payable on the 2nd day of July. 1930.
8 Bonds numbered 9 and 10 shall constitute annual series
9 No. 5 and shall fall due and be paya.ble on the 2nd day of July. 1931.
10 Bonds numbered 11 and 12 shall oonsti tute annual
11 series No. 6 and shall fall due and be payable on the 2nd day of
12 July. 1932.
\3 Bonds numbered 13 and 14 shall oonstitute annual
series No. 7 and shall fall due and be payab'le on, the 2nd day of
July. 1933.
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BondS numbered 15 and 16 shall oonstitute annual
series No. 8 and shall fall due and be payable on the 2nd day of
July, 1934.
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Bonds numbered 17 and 18 shall oonstitute annual
series No. 9 and shall fall due and be payable on the 2nd day of
July. 1935.
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Bonds numbered 19 and 20 shall oonsti tute annual
series No. 10 and shall fall due and be payable on the 2nd day of
July. 1936.
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Bonds numb-ered 21 "and 22 shall oonstitute annual
series No. 11 and shall fall due and be payable on the' 2nd day of
July, 1937.
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Bonds numbered 23 and 24 shall constitute anIlUa.l
series No.' 12 and shall fall due and be payable on the 2nd day of
July, 1938.
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Bonds nullibe:ced 25 and 26 shall oonst i tute anIJUa.l
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series No. 13 and shall fall due end be payable on the 2nd day of
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July. 1939.
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Bonds numbered 27 and 28 shall oonstitute annual
series No. 14 and shall fall due and be paya.ble on the and da.y of
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July. 1940.
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Bonds numbe:r:ed 29 and" so' shall oonstitute annual
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ser1e,~' N~\o,~ 16 and Shall fall due and b~.: payable on the 2nd day of
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JulY....19~~.
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Third: All of the bonds 'ahall be forthwith delivered
to GRIFF~TH COMPANY. a Corporation, the'said oontraotor, in
sat1sfaa:t.1on of the balanoe due it. upoh its a.ssessment and wa.:J:rant.
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Fourth; The assessment aevy and oo11eotion of taxes
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in and for the Oity of Seal Beaoh being 'made through and by the
Oounty of Orange and the offioera thereof:
IT IS ORDERED, that a copy hereof be filed in
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the office of the Auditor of the County of Orange, state of
California.
I hereby oertify that the foregoing resolution and
order was regularly introduoed and passed by the Board of Trustees
of the Oity of Sea+ Beaoh at a regular meeting thereof held on the
15th day of Ootober, 1925. by the vote of the following named members
to-wit:
Ayes,
Trustees.JAld,L.u r""" Wtl.gc!IJI ~
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Noes, Trustees. ~ J
Absent. Trustees. .?,;~. IJ J .
ATTEST:
[)JL." rd. (f(J.~
City Clerk of the City of
Seal Beaoh, California.
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