HomeMy WebLinkAboutCC Res 96 1923-02-01
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R&:SOLtTTION NO.
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A Resolution determining unpa~d assessments for
the work done and improvement made,upon !hirteenth
Street, and the aggregate amount thereof; that
bonds be issued ~on the security thereof, ~re-
scribing the dtl1omino.tions of said bonde, and
providing for the issuance of the same in anrmal
series.
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8 WH&:REAS, a Wll%rant and assessment dated the 21st day
9 of November, 1922, was issued for the work dPne and improvement
10 made upon thirteeDhStreet, an open, publio street in the Oity
11 of geal Beach, whioh work and impl'ovement is bri,efly desoribed
12 in Resolution of Intention No. 64 of said Oity, passed on the
18 15th day of December, 1921, and ordered done and made by Resolu-
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tion No. 64, passed on the 19th day of January, 1922, and was
done and made by Fairohild-Oilmore-Wil ton 00., under a contract
10 awarded to them on the 9th day of March, 19132; and
17 WHEREAS, on the 22nd day of December, 1922, being after
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18 the/expiration of thirty (50) days from the 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
21 recorded by the Street Superintendent of the City of Seal Beach,
22 and after said return was recorded" the Street Superintendent-
28 made up and filed wi th the Olerk of the 01 ty of Seal Beaoh as
24 the Olerk of the Board of Trustees thereof, a complete list of
26 all unpaid assessments and said Ole%K there~on gave notice of
20 the filing of sad.d list, and that eight 0 'olock of Thursday,
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the 1st day of February, 1923, at the Oouncil Ohamber of the B08l'd
of trustees of the Oity of seal Beach was thetime therein fixed
by him when interested persons might appear before the City
Oouncil and show cause why bonds shall not be issuaed upon the
security of the unpaid asaessments shown on said list, by post-
... ing said notice conspicuously near the Oouncil chamb~ door of
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Resolution Number
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~~ 1925,
the Oity of Seal Beach, on the ~~ of January,/and said Notice
xema:l.ned there posted until the , '1 -.. day of January" 1923, and
by publishing said Notice twice in the Seal Beach Post and Wave,
a newspaper published in the Oity of Seal ~eaob, to-Wit: On the
11th. and 18th days of January, 1925, the first publication of wh:l.c
was more than five full days before the time therein fixed for
such hearing; and further, by mailing said Notice, postage pre-
paid, to the owner of each lot listed, according to the name and
address appearing on the ~ast e~alized assessment roll for Oity
taxes of the Oity of Seal Beach, prior thereto; and
WHEREAS, the Foard of Trustees, of the City of Seal Bea
was in session and duly convened at the time and place in the
said Notice specified and proVided, to hear any objections pre-
sented, and no intg,netedor other person appearing to show cause
or did shOW' oause why bondS shall not be issued upOn the securi ty
of the unpaid assessments or objeoted thereto:
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IT IS THEREFORE, NOW, BY 'fHE BOARD OF TIlUBTEES OF THE
OITY OF SEAL BEAOH, D&:TFJlUINED, JlESOLVED AND ORDEElIlD AS FOLLOWS:
First. The assessments which are unpaid for the .ork
dons and improvement made upon Thirteenth Street, which work and
improvement is briefly described in Resolution of Intention Np.
54 passed on the 16th day of December, 1921, and ordered done
and mads by Resolution 11'0. 64, passed on the 19th daV of Janua:ry,
1922, are as follows:
The aggreRate amount of the unpaid aS8esemente for the
work done and improvement made upon Thirteenth street is
$6,~9.77 and. this amount is the aggregate of the ,following
unpaid assessment numbers shown in red upon the warrant diagram
and assessment, to-wit:
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Resolution Number
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Description of Assessments Due
U Assesement No. Props: ty. and tTnpaid.
I 2 Lot 10 Block 12 of Bay City,
1 l.lisc. ],laps,
8 Book 3-Pg19. $728,.98
6 II 17 II 12 !' 165 .68
- 4 6 II 19 II 12 II 166.68
9 II 26 II 12 " 166.68
6 16 " 39 II 12 " 165. 68
17 " 41 " 12 " 166.68
6 18 II 415 " 12 " 165.68
20 II 47 " 12 II 165.68
7 21 a 49 a 12 " 165.68
22 II 61 II 12 " 165 .68
8 215 II 615 " 12 a 165 . 68
26 II 57 " 12 " 166.68
9 26 II 69 " 12 " 154.46
211 II 1 a 115 a '128.98
10 29 a 14 a 13 " 165.68
151 II 18 II 13 ., 165.68
11 152 " 20 " 13 II 165.68
315 " 22 " 13 n 165.68
12 35 II 26 II 13 " 165.68
36 II 28 II 115 II' . 166.67
18 '67 II 30 II 13 II- 165.67
38 II 32 II 13 II . 165.67
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I 14 39 " 34- a 13 a. 166 . f57
40 II 36 II 13 a 165.67 .
16 41 II' 38 It 115 "' 165.67
415 a 42 II 115 II 165.67
16 45 n 46 II 115 a 165.67
46 II 48 a 13 a 165.67
17 49 II 64r III 115 " 166.67
50 " 66 R' 13 " 149.77
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1D And this Board having heretofore ordered that the last instalment
20 of said bonds shall mature fourteen (14) years from the 2nd day of
21 July next suooeeding nine months from their date.
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Second. Bonds shall be issued upon the s ecuri ty of
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u the unpaid assessments shown on the 1 ist thereof, a. herein above
.26 determined~ for the aggregate principal of the sum of unpaid
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26 assessments, to-wit: $6,949.77, and shall be payable in fifteen
I (15) annual series on the 2nd day of July of each year, next
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28 suoce~ding nine months after their date, un ti 1 the whole 1\''llIII 0 f
29 the ag~egate principal thereof is paid, Said' bonds and .eao h of
80 them shall bear 1ntarest at the rate of sev~ psr cent (7%) per
81 ~um from the 22nd day of DecEllIIber, 1922, the date of the filing
811 with the Olerk of the Oi ty of Seal Beac~, of the street 8uperin-
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Resolution Number'
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tendent1s list of unpaid assessments, 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 each year, after 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 before the
maturity of the first ann1.l8.1 series of the bond!'.
T,he 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 presentation of the proper
coupons and bonds, out of the redemption fund, and under no
circll1llstances shall said bonds or interest thereonj be paid out
of any other fund.
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A redemption fund 8ha~1 ,be kept by the Treasurer oL.t~e.
Oity of Seal Beach designated "Thirteenth street Improvamant ~ond
Redemption Fund", in which the Treasurer shall place all sums
received from the collection of assessments made for the paymont
of the cost of the work and improvement upon whi ch tha 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
nll1llbered consecutively from one (l) to thirty (30) inclusive.
&:ach odd numbered bond shall be in the denomination
of 1300.00 each and eaoh even numbered bond shall be in the
denomination of $96.65 2/15 each.
The form of the bond shall be substantially as pro-
vided by Section ~ of the Improvement ~ond Act of 1915. pro-
vided ,that the same shall oontain the appropriate words end
figures to make the said bond and the form thereof applicable
to the de~omination, annual series, and purposes for which the
bonds are to be issued, as herein set forth. The bonds shall
be signed by the Treasurer and Clerk of the City of Seal Beach.
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Resolution Number
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!here .hall be attached to each bond interest coupons
representing the payments of semi-annual interest and made pay-
able tIpon the principal of the bonds to which they are attached.
All of said bonds shall be signed by the 'l'reasurer of the Oity
of Seal Beaoh, but the Treasurer1s signature may be engraved, .
printed or litAographed on the intere.t coupons in placeof the
Treasurer's signature by hand,
the interest ootlpons shall be consecutively numbered
from one '(1) upward on each bond; and the interest thereby re-
presented shall be paid on the 2nd day of January and July,
succeeding the 22nd day of December, 1922, provided that the
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cotlpons representing the first payment of interest shall become
due the 2nd day of January, 1924, being six months before the
maturity of the first anrmal series of the bonis, and shall be
for the interest aocruing thereon from the 22nd day of December
1922, to said date,
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~ Bonds numbered 1 and 2 shall constitute annual series
No. 1 and shall fall due and be payable on 'the 2nd day of July,
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1924, being the 2nd day of July next sucoeeding nine months
from the 1st day of February, 1923, the date ~f said bonds.
Bonds numbered 3 and 4 shall constitute annual series
Xo. 2 and shall fall due and be payable on the 2nd day of July,
1925.
Bonde numbered 5 and 6 shall constitute annual eeries
Nq. 3 and shall fall due and be payable on the2nd day of July,
1926.
BOnds numbered 7 and 8 shall oonstitute annual series
No. 4 and shall fall due and ba payable on the 2nd day of July I
1927.
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Bonds numbered 11 and 12 shall consti tute anmal series
No.6 and shall fall due and be payable on the 2nd day of July,
1929.
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Bonds numbered 13 and 14 shall oonsti tute annual series
No.7 and shall fall due and be payable on the 2nd day of July,
1930.
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Bonds numbered 15 and 16 shalloonstitute annual seriee
No.8 and shall fall due and be payable on the 2nd day of July,
1931.
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Bonds numbered 17 and 18 shall oonsti tute annual seriee
No.9 and ,shall fall due and be payable on the2nd day of July,
1932.
,Bonds numbered 19 and 20 shall oonsti tute annual serilll
No. 10 and shall fall dUe and be payable on the 2nd day of July,
1933.
Bonds numbered 21 and 22 shall oonstitute annual series
No. 11 and shall fall due and be payable on the 2nd day of July,
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1934.
Bonds numbered 23 and 24 shall consti tute annual series
No. 12 ~d shall fall due and be payable otl the 2nd. day of July,
1936.
Bonds numbered 26 and 26 shall constitut. annual serie.
No. 13 and shall fall due and be payable on the 2nd daY of July,
1936.
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Ponds numbered 27 and 28 shall oonstitute Blnual series
No. 14 and shall fall due IIlcl. be payable on the 2M day of July,
1937.
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Bonds numbered 29 and 30 Shall oonsti tute annual series
No. 16 and shall fall duo and be payab~e on the 2nd day of ~uly,
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'lhird. All of the bonds shall be' sold to thehl.ghest
bidder therefor, but for not less than their par value and
aocrued interest at the dateof' their delivery, and, the proceedS
of the sale thereof shall be deposited in the Treasury of the
City of Seal Beach, to the credit of 'lhirteenth Street Improve-
ment Fond Redemption Fund, and from whioh there'shall be paid to
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Fairchil~ai1more-Wilton 00., the contractor, the balance due
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them upon the assessment and warrant for the work done and imp1'llVEl
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ment made upon Thirteenth street, including interest upon the
principal amount at the rate of seven per cent (7~) per anrmm
from the 22nd day of De<IIIlbe:r, 1922, and the surplus of suoh pre-
oeeds,if any, shall be oredi tad to said Redemption fund for the
payment of such bondS.
1f no satilifaotory biLde are reoeiVed" or the Board of
Trustees determine that the bilds reoeived are not satisfactory
as to the price or responsi bili ty of the bidder, the Board of
'lrDstees reserves the right to reject all bide' received, if any,
and re-advertise the bonds for sale, or deliver said bonds to the
contractor aforesaid, in satisfaction of the sum due them upon
the assessment and war rant.
Fourth. The assessment levy and collection of taxes
in andfor the Oity of Seal Beach being made through and by the
Oounty of Orange,and the officers thereof, 1'r 18 ORDEBED that a
copy hereof be filed in the office of the Audi tor of the County
of Orange, state of California.
1 hereby certify that the foregoing Resolution and
Order was 'regularly introduc:ed and passed by the Board of Trustee
of the Oity of Seal Beach, at a regulnr meeting thereof held on
the 1st day of February, 1923~ ;he fOJ.2>wi~~~, c:.:R"S
Ayes, Trust~...-,(. ~
Noes, Trustees '1t.-tr,.., ~
Absent, Trustee~~ -
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Resolution Number
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Attest: ~
<?i(~(o~ Bea
, Oalifornia.
STATE OF CAL1FORNIA
OOUN'l'Y OF 01lAHlE
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1, B.B .BBOV/N, the duly elected, qual:l.ified and. aoting
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'O,l;,,~ of tho Oity at 8081 ....h, do horo'" oortify thyr"
'to be a f1:1J.l, true and correct copy of Resolution 110. y::=>
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of t~~ Oi ty of Seal Beaoh. 1 have oareful::j.y compar~ ,tl!-e same
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with the original whioh is and remains on file in i1Y offioe.
Wl TNESS my hand and. official seal this LdaY of
February, 1923.
01 ty Clerk of the of
Beach.
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