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HomeMy WebLinkAboutCC Res 85 1922-08-17 .~~ I I " I I / / 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 I ,~.. . I ~,... BESOWnON NO. t~ A JlI:SOLUnCN DETl!2lMINING UNPAID ASSESSMENTS rOR '" THE' WORK DONE AND IMPROVEJoIENT MADE UPON ElGH'lH STREET, AND 1'HE AGGREGATE IJlOUN'l '!'HEREorJ '!'HAT BONDS BE ISSUED UPON '.IIi E SECURITY m80r, PRE- SCRIBING '!'HE DEN01IINATlON OF sAID BONDS AND PROVIDING FOR THE ISSUANCE OF THE SALlE IN ANNUAL SERIES. ~ WHEREAS, a warrant and re-asse~sment dated the J':) - day of June, 1922, was issued for the work done and improvement made upon Eighth Street, an open publiC street in the Oity of 8eal Beach, which work and improvement is briefly dellOribed in Resolution of Intention No. 50 of said Oity, passed on the 15th day of December, 1921, and ordered done and made by Resolution No. 60 paseed on the 19th day of January, 1922 and was done and made by H. It:. Cox under a contract awarded to him on the 1 41 day of March, 1922, and Whereas, on the 20th day of July, 1922, beinp; after the full expiration of thirf;.y (30) days fram the date of the warran t and no appeal having been taken as provided by the Improvement Act of 1911, and the said warrant and re-assessment bein~ returned and recorded by the street Superintendent of the Oi ty of Seal Beach and after said return was recorded, the street 8u.perintendent made up and filed with the Clerk of the Oity of 8eal Beach as the Clerk of the Board of Trustees ther&- of, a complete liet of all unpaid assessments upon the re-assClSS- ment, and said Clerk thereupon p;ave notice of the filmp: of said list and that ato1clock of Thursday, the 17th day of Aup;ust, 1922, at the O~cil Chamber of the Board of Trustees of the Oi ty of seal Beach was the time therein fhl'd by :b1m when interested persons might appear before the Oi ty Oouncil , and show cause why bonds shall not be issued uponthe security of the unpaid assessments shown on sa1d list, by posting a -1- I I I 1 2 3 .'- '} Resolution Number ,.,i~Ft ~- - - notioe oonspiouously near the Cou.noll Chamber door of the Ci ty of Seal Beaoh on the .z Z day of July, Jt22, and sai d notioe remained there posted until the "<lay of A~ust, 1922, 4 and by publish1%l$( the noti oe twioe in the Seal Beaoh Post 5 and Wave, a newspaper pu.bl1shed in the Oi ty of Seal Beaoh, 6 to-wit: On the 27th day of July, 1922 and the 3rd day of 7 AUPJ1st, 1922, the first publication of which was more than 8 five (5) full days before the time therein fixed for such 9 hearin~j and further, by mailin~ said notice, pOBta~e prepaid, 10 to the owner of each lot listed acoordin~ to the name and 11 address appearin~ on the last e~aliBed assessment roll for 12 oity tazes of the City of Seal Beach, prior theretoj and 13 Whereas, the Board of Trustees of the City of Seal 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 Beach was in session and duly convened at the time and place in the said notice Iilpecified and provided to hear any objections presented, and no interested or other person appearing to show cause or did show cause why bonds shall not be issued upon the security of the unpaid assessments or objeoted thereto: 17 18 THJ:REFORI, NOW, BY THE BOARD OF TRUSTEES OF THE 01 TY OF SEAL BEACH, DETERMINED, RESOLVED AND ORDERED as follows: First. 'rhe assessments which ar e unpaid far the work done and improvement made upon Eighth Street which work and improvement :bs briefly desoribed in Resolution of Intention No. . ~ 50 passed on the 15th day of Deoember, 1921, and ordered done and made by Resolution No. 60 passed on the 19th day of January; 1922, are as follOWS: 8econd. 'lhe a~=e~ate amount of the unpaid assessments for the work done and improvement made upon Eighth Street is . 6,726.3.3 , , and. this amount is the agp;re~ate of the follo in~ unpaid assessment numbers shown in red upon the warrant dI. a- g:ram and re.-48sessment, to-wit: Resolution Number " {I'- J; .. ;''1 , -' 1 Property Description I Located in the Oity of Seal Beach 2 County of Orange.8tate of Calif. ASSES8JIB~T NO. LOT BLOCK Tract AMOUNT 3 BAY m.TY. 4 I 11 7 Ui sc . )laps. h52 .16 - Book 3.Page 19 5 a 21 7 N'1i:1y 12.50' of 76.08 9 23 7 152.16 6 12 29 7 152.16 J!.3 31 7 152.16 7 15 35 '2' 152.16 16 37 7 152.16 8 17 39 7 152.J!.6 18 41 7 152.16 9 19 43 7 152.16 22 1 107 152.16 10 23 3 107 152 .16 24- 5. 107 152.16 11 25 7 107 152.16 28 13 107 152.16 12 29 15 107 152.16 36 27 107 152.16 13 36 29 107 162. J1B 37 31 107 152.16 I 14 38 33 107 162.16 41 39 107 152.16 42 41 , 101,' l!52 .16 15 43 43 107 46.37 16 46 L2 8 152.16 46 14 a S'Wly 12.50' of 76.08 17 47 14 a H'Ely 12.50' of 7.6.08 48 16 8 152.16 18 55 28 8 152.16 56 30 8 8'Wly 12.60' of .76.08 19 62 40 8 162.16 63 42 8 162.16 20 64 44 8 1.62.16 65 46 8 152.15 21 66 48 8 152.16 67' 2 108 .62.16 22 68 4 108 152.16 71 8 108 H'lly 12.50' of 76.08 23 72 10 108 152.16 73 12 108 162.15 24 74 14 108 152. 15 75 16 108 152.15 25 78 22 108 152.15 83 38 108 152.15 26 84 34 108 162.15 I B~ ~ 18~ U~:li 27 87 40 108 213.32 28 29 30 . 31 32 I I I 1. 2 3 4- 5 6 7 8 9 1.0 1.1. 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 '1 \. Resolution Nu~~ And this Board havinp; her etofore ordered that the last installment of said bonds shall mature fOllrteen (14) years fram the and day of July, next 8Ucceedinp; nine (9) months from their date. Third. B'onds shall be issu.ed upon the security cf the unpaid assessments shown on the list thereof as her e1nabove determined for the ap;p;rep;ate principal of the SUlll of unpaid assessments, to-Wit: $6,726.33, and shall be payable in fifteen (15) annual eeries, on the 2nd day of July of each year next BUcceed1np; 9 months after their date, until the whole eUlll of the aggregate principal thereof i8 paid. Said bonds and each of them shall bear interest at the rate of seven (7) per cant per annum from the 20th day of July, 19a2, the date of filing with the Olerk of the Oity of 8eal Beach of the street Super- intendent's list of unpaid assessments, until the whole sum of the principal and interest is pa1d~e interest shall be payable semi-annually by cau.pone, on the and day of January and July respectively of each year, after the date of the bonds, prcllv1ded that the first payment of interest shall not become due until the 2nd day of January, 1923, being six (6) months before the maturity of the first annual series of the bonds. The bonds and interest shall be paid at the office of the Treasurer of the-City of Seal Beach in said Oity, Oounty of Orange, state of Oalifornia, upon the presentation of the proper bonds and cOllponS, out of the redemption fund, and undllt' no circumstances shall said bonds or interest thereon be paid out of any other fund. A redemption fund shall be kept by the Treasurer of the Oity of Seal Beach, dee1p;nated B:ip;hth street lmprovement Bond Redemption Fund, in which the Treasurer shall place all BumS received from the collections of assessments made for -4- I I I 1 2 3 4 5 6 '1 8 9 10 11 12 13 14 15 16 1'1 18 19 20 21 22 23 24 25 26 I 27 .I , I 28 I 29 30 31 32 , - ,\, Resolution N~~~ 'I the payment of the cost of the work and improvement upon which the bonds are issued and the interest and penalties thereon. All of the bonds shall be dated the 17th day of Au/tllst, 1922, and shall be nnmbered consecutively from one (1) to , twenty-seven (27) both inclusive. Bonds nmnbered 1 to 9 inclu- sive shall be in the denomination of $448.. each; bonde nmnber- ed lQ and 11, 13 and 14, 16 and 17, 19 and 20, 22 and 23, 25 and 26 shall be :in the d8nomination of $100.00 each; bonds numbered 12, 15, 18, 21 and 24 shall be in the dsnomination of 1248.42 each; and bond numbered 27 shall be in the denomin- ation of $248.45. !he form of the bond shallbe eubstantially as pro- vided by Secti on 6 of the Improvement Bond Act of 1915 provided that the S6me shall contain the appropriate words and fi~res to make the said bond and the form thereof applicable to the denomination, annual series and purposes for which the bonds a~e to be issued as 18rein set forth. !he bonds shall be si~ed by the Treasurer and Clerk of the Oi ty of Seal Beach. There shall be attached to eee:: h bond, interest coupons representing the payments of semi-annual interest and maie pay- able upon the principal of the bonds to which they are attache~ All of said coupons shall be signed by the Treasurer of the Oi ty of Seal BeaQ.h, but the Treasurer's signature my be engraved, printed Qr lithcp;raphed on the interest coupons :in place of the Treasurer's signature by hand. The interest coupons shall be consecutively numbered from 1 upward on each bond, and the interest thereby repreeented shall be paid on the 2nd day of January and July succeeding the 20th day of July, 1922, provided that the coupons respreeent- inp; the first payment of interest shall become due the 2nd day of January, 1923, being 6 months before the ma turi ty of the first annual series of the bonds and shall be for the interest -5- I ... , I 1 2 3 4 5 6 -7 8 9 10 11 12 13 - ", I ' '" Resolution Number-", , . , accruing thereon;&an the 20th day of July, 1922, to said date. Bond numbersd 1 shall constitute annual series No.1 and shall fall due and be payab:8 on the 2nd day of July, 1521, beinp; the 2nd daY of ".bJ.y, next succeeding 9 months after the 17th day of August. Bond numbered 2 shall constitute annual seri es No. 2 and shall fall due and be payable on the 2nd day of July, 1924. Bond numbered 3 shall constitU8 annual series No.3 and shall fall due and be payable on the 2nd day of July, 1925. Bfmd numbered 4 shall constitute annual series No.4 and shall fall due and be payable on the 2nd day of July, 1926. Bond numbered 5 shall consti tute annual series No.5 and shall fall due and be payable on the 2nd day of July, 1927. Bond numbered 6 shall constitute annual series No. 6 14 15 I and 16 shall fall due and be payable on the 2nd day of July, 1928. Bond numbered 7 shall constitute annual series No.7 17 and shall fall due and be payable on the 2nd day of Jul y, 1929. 18 Bond numbered a shall constitute annual series No. 8 19 I and shall fall due and be payable on the 2nd day of July, 1930. 20 Bond numbered 9 shall constitute annual series No.9 21 and shall fall due and be payable on the 2nd day of July, 19~. 22 Bonds numbered 10, 11 and 12, inoluei ve shall consti tu- 23 te annual series No. 10 and shall fall dus and be payable on the 24 2nd day of Jul y, 1952. 25 Bonds numbered 13, 14 and 15. inclusive, shall con- 26 sti tute annual se:cl. es No. 11 and shall fall due. and be payable 27 on the 2nd day of July, 1933. 28 Bonds numbered 16, 17 and la. inclusive, shall con- 29 etituts annual series No. 12 and shall fall due and be payable 30 on the 2nd day of July, 1934. 31 Bonds numbered 19, 20 and 21, inclusive, shall con- 32 sti tu ts annual series No. 13 and' shall fall due and be payable -6- I I I 1 2 ~ . ,'" Resolution Number_ , . :. ~ on the 2nd day of July. 1936. Bonds numbered 22. 25 and 24. inclusive. saall con- 3 s:titute annual series No. 14 and ehallfall due and be payable 4 on the 2nd day of July. 1936. 5 Bond!! numbered 26, 26. and. 27, inclusive, shall con- 6 stitute annual series No. ~6 and shall fall due and be payable 7 on the 2nd day of July, 1937. 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 Fourth. All of the bonds shall be sold to the highest bidder therefor, bI.1t for not less than their par value and accrue interest at the date of their deliVery, and the proceeds of the sale thereof shall be deposited in the Treasury of the City of 8eal Beach to the credit of Eighth street Improvement lilond Bedemption Fund. and from which there shall be paid to Eliiott & Horne Oompany. the assignees of H. B. Oox, oontractor. the balance due him upon the re-assessment and wan ant for t he work dOIle and improvement maqp upo n &:ighth street. incJl.udl.ng interest upon the principal amount at the rate of 7 per cent per annum fr QIII the m th day of July. 1922. and the surplus of such pro- oeeds. if any. shall be credited to said Redemption Fund for the payment of such bonds. If no satiefactory b~ are received or the Board of 1'rustees iletermine that the bids received are not satisfactory . as to price or responsibility of the bidder. the 'Board of Trus- tees reserves the right to reject all bids received. if any. and 1'El-advertise the bonds for sale or deliver' said bonds to the assignees of the contraotor aforesaid. in sa.tisfaction of the sum due him upon the re-aesessment and warrant. fifth. The aseessment levy and collection of taxes in and for the City ~ Beal lilElach being made through and by the County ,of Ol'aJlge and the officers thereof. 11' .IS OIlDEBED that a copy hereof be filed in the office of the Auditor of -7- ' I I I 1 2 3 4- 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 . 30 31 32 ,; " Resolution Number~ ,. "'-' the County of Orange, California. I hereby certify that the foregoing Resolution and Order was regularly introduded and passed by the Board of Trus- tees of the City of Seal leach, at a regular meeting thereof held on the 17th day of August, 1922, by the vote of the following nomed -..... ,_,of. ". L 4.,(~ Ayes, Trustee~ "&..tI:;I'a~ , )bes, Trustees -?1 h-fJ- -- ~ Absent, Trustess ~ ATTEST: Ci ty 0 f Seal Beach, STATE OF CALIFORH~, J Oounty of Orange. ) ss. 1, B. B. BROWN, the duly elected, qualified and acting Olerk of the City of Seal Beach, do hereby certify the :fbregoing to be a full, true and correctoopy of Resolution No. Ir~of the Oi ty of Seal Beach. :r, have carefully compared the same wi th the original which i8 end remains on file in my office. Wi tness my hand ~d Off~~ial ~e~~ the _.L2:..daY of August, 1922; -- ~ / M4~ C:terk of the Oity of Seu VIeach .