HomeMy WebLinkAboutRES NO 42-50 RESOLUTION IN 4 2 5 0
RESOLUTION PROVIDING FOR THE ISSUANCE
OF IMPR0VEMENT BONDS IN THE MATTER OF
PUBLIC IMPROVEMENT DISTRICT NO. 675.
WHEREAS, the City Council of the City of Bakersfield, County
of Kern, State of California, did on the 13th day of March, 1950,
pass and adopt its Resolution of Intention No. 675 relating to
certain work proposed to be done and improvement to be made in
Public Improvement District No. 675 of said City, as in said Reso-
lution described, under and pursuant to the provisions of the
"Improvement .Act of 1911", and amendments thereto, and did therein
provide that serial bonds would be issued thereunder in the manner
provided by the "Improvement Bond Act of 1915", reference to said
Resolution of Intention being hereby expressly made for further
particulars; and
WHEREAS, the contract for said work and improvement was duly
awarded and thereafter duly completed to the satisfaction of the
Superintendent of Streets of said City and this Council, whereupon
an assessment, warrant and diagram were made, recorded and delivered
to the contractor in the time, form and manner as required by law,
and the contractor having made due return thereon and the same having
been duly filed; and
WHEREAS, on the 30th day of October, 1950, the Superintendent
of Streets of said City of Bakersfield duly made and filed with the
City Clerk and Ex-officio Clerk of this Council a complete list of
all assessments unpaid thereunder upon the respective assessment and
diagram numbers thereon, whereupon said City Clerk and Ex-officio
Clerk gave notice of the filing of said list in the time, form and
manner provided by law, and fixed in said notice Monday, the 13th
day of November, 1950, at the hour of eight o'clock P.M., as the time
1.
when interested persons might appear before the Council of the
City of Bakersfield, at the regular meeting place of said Council,
located in the Council Chambers in the City Hall, Bakersfield,
California, and show cause why bonds should not be issued upon the
security of the unpaid assessments shown on said list, all of which
appears from affidavits on file in the office of said City Clerk
and Ex-officio Clerk of this Council; and
WHEREAS, there having been no protests or objections against
the issuance of bonds as aforesaid presented before or at the time
of said hearing; and
WHEREAS/ since the filing by said Superintendent of Streets
of said list of assessments unpaid, no assessments have been paid,
leaving a balance due on account of the said unpaid assessments
of $711.20; and said list of assessments unpaid, filed by said
Superintendent of Streets as aforesaid, appearing in all respects
complete and correct;
NOW, THEREFORE, evidence both oral and documentary having
been adduced and submitted to the satisfaction of this Council,
IT IS HEREBY RESOLVED and found and determined by the City
Council of the City of Bakersfield, County of Kern, State of Cali-
fornia, that said list of assessments unpaid, filed by said Super-
intendent of Streets, as aforesaid, was at the timeof filing thereof
in all respects complete and correct; and that since the filing
thereof no assessments have been paid, and also that the unpaid
assessments in the proceedings duly had and taken under and pursuant
to said Resolution of Intention No. 575, and the aggregate amount
of the same are as follows, to wit:
2.
ASSESSMENT AND .AMOUNT OF
OWNER DIAGRAM NUMBER ASSESSMENT UNPAID,
M. R. McKenzie 5 $ 76.94
M. R. McKenzie 6 83.56
E. L. Griffith 7 84.31
E. L. Griffith 8 84.31
Francisco Salazar 11 84.13
Francisco Salazar 12 90.30
Frank Thomasy 13 103.55
Frank Thomasy 14 103.55
and the said City Council does hereby further find and determine
that the total or aggregate amount of said assessments unpaid is the
sum of $711.20;
NOW, THEREFORE, in consideration of the premises, the said
City Council does hereby further resolve, order and determine as
follows, to wit:
Section 1: That bonds shall be issued upon the security of
said unpaid assessments in the said amount of $711.20, in accordance
with the provisions of said "Improvement .Act of 1911", as amended,
and said "Improvement Bond Act of 1915", as amended, and under and
pursuant to the provisions of said Resolution of Intention No. 675
in the matter of Public Improvement District No. 675 of said City
and the proceedings thereunder duly had and taken; said bonds shall
be ten (10) in number, shall be dated November 20, 1950; and the
denominations of said bonds, with their respective numbers and dates
of maturity, are as follows:
SERIES BOND NUMBER DENOMINATION DATE OF MATURITY
532 1 $71.12 July 2, 1952
533 1 71.12 July 2, 1953
534 1 71.12 July 2, 1954
535 1 71.12 July 2, 1955
536 1 71.12 July 2, 1956
537 1 71.12 July 2, 195
53 1 71.12 July 2, 1958
539 1 71.12 July 2, 1959
71.12 July 2, 1960
541 1 71.12 July 2, 1961
3.
Section 2: Said bonds shall bear interest at the rate of
five percent (5') per annum. The first coupon attached to each
of said bonds shall be for interest from the 30th day of October,
1950, to the 2nd day of January, 1952, and the several coupons
of interest thereafter shall be for the interest coming due on
the principal of the respective bonds to which the same are respect-
ively attached for the several semi-annual periods subsequent to
said date.
Section 3. Said bonds shall be issued in series, and the
unpaid assessments as shown on said list filed by the Superintendent
of Streets and determined by the said City Council, together with
interest thereon, shall remain and constitute a trust fund for
the redemption and payment of said bonds and the interest which may
be due thereon, which unpaid assessments shall be payable in
annual series corresponding in number to the number of series of
bonds issued, and an even annual proportion of each assessment shall
be payable in each year preceding the date of the maturity for each
of the several series of bonds issued, and such proportions 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 times and in the same proportionate amounts
and bear the same proportionate penalties for delinquency.
Said bonds shall be signed by the Treasurer of said City of
Bakersfield and by the Clerk of said City of Bakersfield, who shall
affix thereto the official seal of said City of Bakersfield; the
interest coupons affixed thereto shall be signed by the Treasurer
of said City 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
4.
a sufficient 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 "Improvement
Bond Act of 1915", as amended; said Treasurer and said Clerk are
hereby authorized and directed to so sign.
Section 4: Said bonds shall be forthwith delivered to the
contractor or its assigns, in satisfaction of the balance due said
contractor upon its assessment and warrant.
oOo
I HEREBY CERTIFY that the foregoing Resolution was passed
and adopted by the Council of the City of Bakersfield at a regular
meeting thereof held on the 20th day of November, 1950, by the
following vote:
.A,YEES.:CHAR,IMS,CROSS, KUEHN, MORELOCK, WNURLEY,$tMON,%ND�'RM I
npp S::^ NA
1 '
ity Clerk and Ex-of is o Clerz o t e
Council of the City of Bakersfield.
• •ROV • his 20th day of November, 1950,
VIV•R o t e ity of Ba•ers/ield.
5.