HomeMy WebLinkAboutCC Res 93 1923-02-01
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IU:80LUfI0N NO. q ~
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A Resolution Determining unpaid assessments for
the work done and improvement made upon fwelfth
Street. and the aggregate amou.nt thereofJ that
bonda be hsusd upon the secur1 ty thereof. pre-
scribing the denominations of said bonds. and
providing for the issuance of the same in annual
series.
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8 WHEREAS. a warrant and assessment dated the 21st day of
9 NOvember. 1922. was issued for the work done and improvement made
10 upon 'fwelfth street. an open. publiC street in the City of Seal
11 Beach. which work and improvement is b$fiy desJ ribed in Resolu-
12 tion of Intention Bo. 53 of said City. passed on the 15th day of
18 December. 192~. and ordered done and made by Resolution No. 63.
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passed on the 19th day ot January. 1922. and was done and made' by
tairohild-Gllmore-WlI.ilton Co.. under a contract awarded to them
on the 9th day of March. 1922J and
17 full WHEREAS. on the B2nd day of December. 1922, being after
18 the/expiration of thirty (30) days fromthe date of the warrant.
19 and no appeal haVing been taken. as provided by the Improvement
20 Act of 1911. and said warrant and assessment being returned and
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21 recorded by the street Superintendent of the City of Seal Beach.
after
22 /said return was recorded. the St8et Superintendent made up and
28 filed with the Clerk of the City of Seal Beach as the Clerk of th
24 Board of frustees thereof. a oomplete list of all unpaid asseBsme
26 and said Olerk thereupon gave notice of the filing of said list.
26 and that eight 0 I clock of '1'h\l1'sday. the 1st day of February. 1923.
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at the Oou.noil Chamber of the Foard of trustees of the Oity of Se 1
Beach was the time therein f.1xed by him when interested persons
might appear before the City Oou.rioil and show cause why bonds sha 1
not be issued upon the security ot the unpaid assessments shown 0
said list. by posting said notice oonspicuously ~ the oouncil___
oham,be~ door of the City of Seal Beach. on the $" day~ '~/P1ary.19~3
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and said Notioe remained there posted until the ~day of Jan-
uary, 1923, and by publishing said notioe tWioe in the Seal Beaoh
Poet and Wave, a newspaper published in the City of Seal Beaoh,
to-wi t: On the 11th and 18th days of January, 1923, the first
publioation of whioh was more than five full days before the
time therein fi xed for such hearing) and further, by mailing
said Notioe, postage prepaid, to the owner of eaoh lot listed,
aooording to the name and addrese aplS ering on the last eque.lil/led:
assessment roll for Oity taxes of the City of Seal Beaoh, pri or
thereto) and
WHEREAS, the Boerd of Truetees 0 f the Ci ty of 8eal Beao
was in session and duly oonvened at the time and plaoe in the
said Notice specified and provided, to heer any objeotions prs-
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sent ed, and no interest/or other person appeering to show oause
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or did show oause why bonds shall not be issued upon the eeouri t
of the unpaid assessments or objeoted thereto:
IT 18 THEREFORE, NOW, BY THE BO/IRD OF TRUSTEES OF THE
OITY OF SEAL BEACH, DETEIU,11NED, RESOLVED, AND ORDERED AS FOLLOWS:
First. The assessments which ere unpaid for the wark
done and improvement made upon Twelfth street, which work and .
improvement is briefly desoribed in Resolution of Intention, No.
53 passed on the 15th day of December, 1921 and ordered done and
made by Resolution No. 63 passed on the'19th day of January, 192
are as follows:
The aggregate amount of the unpaid aSllSssmente for the
work done and ilnprovement made upon Twelfth Street is $6,4-11.23
and this "amount is the aggregate of the following unpaid assess-
ment' munbers shown in red upon the warrant diagram and assess-
ment, to-wit:
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Assessment No.
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Lot
Resolution N~er
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Description of
Pro:Derty.
Assessments Due
-Eld Un:Daid.
16 B100k 11 of Bay Oity,
Misc. Map.,
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$172.73
86.36
172.73
172.73
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79.45
760.03
172.73
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And this Board having heretofore ordered that th~ instalment
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of said bonds shall matll1'e fourteen (14) years fronFt'he lhd day of
July next succeeding nine months from their date.
Seoond. Bonds shall be issued upon the security of
the unpaid assessments shown on the list thereof, as herein above
determined:, for the aggregate principal of the sum of unpaid
assessments, towit: $6,411.23, and shall be payable in fifteen
(16) annual series on the 2nd day of July of eaoh year, neatt
suoceeding nine months after their date, until the Wh~le sum of
the aggregate prinoipa1 thereof is paid. Said bonds and eaoh of
them shall bear interest at the rate of seVen per cent (7%> per
annu m!rom the 22nd day of December, 1922, the date of the filing
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with the Clerk of the City of Seal Beach, of the street Superin-
tendent's list of unpaid aesessments, until the whole sum of the
principal and the interest is paid. The interest shall be paid
semi-annually by coupons, on the 2nd day of January and July,
respectively, of sach year, a~ter the date of the bonds, pro-
Vided that the first payment of interest shall not become due
until the 2nd day of January, 1924, being six months befors the
maturity of the first annual seri es of the bonds.
The bonds and interest shall be paid at the office of
the ~easurer of the Oity of Seal Beach in said Oity, Oounty
of Orange, State of,Oalifornia, on the preeentation of the propElt'
coupons and bonds, aut of the redempti on fund, am under no
circumstances shall said bonds or interest thereon, be paid Ql t
of any other fund.
A redempti on fund shall be kept by the Treasurer of the
City of Seal Beach designated"Twelfth street Improvement Bond
Reddmption FUnd", in which the Treasurer shall place all sums
received from the collec~ion of assessments made for the payment
of the cost of the work and improvement upon which the bonds are
issued, and the interest and penalties thereon. All of said
bonds shall be dated the 1st day of February, 1923, and shall be
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numbered consecutively from one (1) to thirty (30) inclusive.
Each odd numbered bond shall be in the denolninati'on
of $400.00 each and each even nUlllbered bond shall be in the
denom1nation,of $27.41 7/15 eaoh.
The form of the bond shall be SUbstantially as pro-
vided by Seotion 6 of the Improvement Bond Act of 1915, pro-
vided that the e~e shall contain the appropriate words and
figures to make the said bond and the form thereof applicable
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to the denomination, annual ,eries, and purposes for which 'the
bonds are to be issued, as herein set forth. The bonds shall
be signed by the Treasurer and Olerk of the City of Seal ~each.
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There shall be attaohed to each bond interest coupons
:representing the payments of s6l11-annual interest and made pay-
able upon the principal of the bonds to w1'lic;:h they are attached.
All of said bonds shall be signed ,by t~e !reasurer of the Oity
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II of Seal Beach, but the Treasurer's signature may be enlJ'aved,
6 printed or lithographed on the interest coupons in place of the
7 Treasurer's signature by hand.
8 The interest ooupons shall be oonseoutively numbered
o from one (l) upward on eaoh bond; and t~e interest thereby re-
10 presented shall be paid on the 2nd day of January and July.,
11 sooceeding the 22nd day of December, 1922, provided that the
12 coupons representing the first payment of interes:t shall become
18 due the 2nd daY of January, 1924, being six months before the
14 maturity of the first annual series of the bondS, and.shall be
15 for the interest aocruing thereon from the 2and day of Deoembe;
16 1922, to said date.
n BO~'.b,.ed 1 and. 2 eball constitute annual se:riea
18 No.1 and shall fal:!., due and be payable on the 2nd clay of July,
10 .' 1924, baing the 2nf day of July next suocee,ding nine months
20 from the 1st clay of February, 1923, the date of said bonds.
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21 Bonde numbered 3 and 4 shall oonsti tute annuaJ. series
22 No.2 and shall fall due and. be payable on the 2nd day of July;
28 1926.
llt Bonde numbered 5 and 6 shall constitute annual eerieEl
25 No,.....s. ~hal1 fall due and. 'be payable on thelhd day of July,
2(1 1926.
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BondS n\llllbered 7 and 8 shall constitute annual series
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No.4 and shall fall due and be payable on the 2nd day of July,
29 1927 .
80 BondS numbered 9 and. 10 shall oonstitute annual series
81 No.5 and shall fall due and be payable on the 2nd day of July,
82 1928.
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BondS numbered 11 and 12 shAll oonstitute annual series
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No'., 6 and shall fall due and be payable on the 2nd day of July,
1929.
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4 JlOnds numbered 13 and 14 shall oonsti tute annual series
5 No.7 and shall fall due and be payable on the 2nd day of July,
6 1930.
7 !'londs numbered 15 and 16 shall oonstitute annual serise
8 No.8 and shall fall due and be P'!yable on the 2m day of July,
9 1931.
10 PondS numbered 17 and 18 shall oonsf1 tute annual seri es
11 No.9 and shall fall dUe and be payable on the2nd day of JUly,
12 1932.
18 BondS n1Jlnbered 19 and 20 shall oonsti tute annual series
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No. 10 and shall' fall due and be payable on the 2nd day of July,
1933.
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16 PondS numbered 21 and 22 shall oonst! tute annual series
17 No. 11 and shall fall due and be payable on the 2nd day of July,
18 1934.
19 FondS numbered 23 and 24 shall oonst! tu te annual series
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20 No. 12 and ehall fall due and be payable on the lhd day of July,
21 1935.
22 Bonds number ed 25 and 26 shall 0 ona ti tu t e annual e eri ee
28 No. 13 and shall fall due and be payable on the 2nd day of July,
24 1936.
25 BOnds numbered 27 and 28 shall oonst.itute anmal ser-
26 ies No. 14 11l)d shall fall due and be payable on the 2nd day of
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July, 1937.
Bonds numbered 29 and 30 shall oonsti tute annual serilll
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29 No. 15 and shall fall due and be paYa.bls on the 2nd day of July,
80 1938.
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Third. All of the bonds ,shall be sold'to the highest
bidder therefor, but for not less than their par value and
acorued interest at. the date of their delivery, and the prooeeds
of the sale thereof shall be deposi ted in the Treasury of the
City of Seal Beaoh, to the credit of Twelfth stre,et Improvement'
Bond Redemption Fund, and from which there' shall be paid to
Fairohild-Gilmore-Wilton Co., the contractor, the balance due
them upon the assessment and warrant for the work done and improv -
ment made upon 'l'Welfth street, including interest upon the prin-
cipal amount at the rate of seven per oent (7%) per annum from
the 22nd day of Deoember, 1922, and the surplus of .uch proceedS,
if any, shall be oredited to said Redemption ~nd for the paymeJt
of such bonds.
If no stisfaotory bids are received, or the Foard of
Trustees determine that the bide reoeived are not satisfactory
ae to the price or responsibility of the bidder, the BOard of
Trustees reeerves,the right to rejeot all bidS received, if any,
and re-advertiee the 'bonde for de, or deliver said bonds to the
oontractor aforesaid, in satisfaction of the sum due them upon
the assessment and warrant.
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Fourth. The assessment levy and collection of taxes
in and for the City of Seal Beaoh being made through and by the
County of Orange, and the offioers thereof, IT 18 ORDERED that
a copy hereof be filed in the Office of the Auditor of the County
of Orange,8tate of california.
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1 hereby certify that the fore go:!. nS R esolu ti on and Ord
was regularly introdueed and paesed by the Roard of Trusteee of
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held_on. the
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1st day of
Noes, Truetees
Absent,
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Attest:
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STATE OF OALIFORNIA
COUNl'Y OF aUIIGE.
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, 1, B.F.BROWN, the duly eleoted, qualified and aoting ,
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Clerk of the City of Seal Beaoh, do hereby oertify'the for~Do
-to be ,a full, true and oorreot oopy of Resolution ~o. ~ of '
the City of seal Beaoh. 1 have oarefully oompared the ~ame with
the original whioh i8 and remains on fpe in my offioe.
WITNESS my hand and official seal thi8.~day of
February, 1925. ~
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