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Home My WebLink About3069 - Issuance of Street Improvement BondsRESOLUTION NO. ,Lo kf A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH, CALIFORNIA, RELATING TO THE ISSUANCE OF STREET IMPROVEMENT BONDS PURSUANT TO RESOLUTION OF INTENTION NO. 2651, DETERMINING THE AMOUNT OF UNPAID ASSESSMENTS, PRESCRIBING THE DENOMINATIONS OF SUCH BONDS AND PROVIDING FOR THEIR ISSUANCE. WHEREAS, pursuant to statute, ( "Improvement Bond Act of 1915", Division 10 of the Streets and Highways Code of the State of California), notice of filing the list of unpaid assessments was duly given in the manner and form required by law, that the warrant, assessment and diagram was recorded on the 3rd day of July, 1944, for the work and improvement made by R. A. Wattson, under that certain contract awarded to him on the 27th day of September, 1943, for the construction of Sanitary Sewers in Central Avenue and other streets and alleys in the City of Newport Beach, and that the said warrant, assessment and diagram were returned to the Superintendent of Streets, together with a written statement of all payments received upon the said assessment, and after the full expiration of thirty (30) days from the date of the said warrant, the said Superintendent of Streets duly made and filed with the City Clerk of said City, a complete list of all assessments remaining unpaid upon said assessment, 1 which list is now on file in the office of the City Clerk of said City, now upon evidence shown this City Council determines that the assessments herein mentioned were then unpaid, the total aggregate thereof being the sum of Thirty -one Thousand, Six Hundred and 44/100 Dollars ($31,600.44). - 2 - That assessments numbered: 1p 14 778 1354 1355 27A 782 27B 788 1363 27C 806 1364 69 809 1369 70 8�3 1370 115 815 1370A 127 834 1396 128 835 1403 136 837 1404 137 838 1405 150 852 1406 180 873 1407 190 874 1"o 200 888 1456 201 893 1459 211 894 1506 242 911 1508 246 917 1512 254 1513 255 1012 1518 258 1013 1519 266 1054 1546 276 1057 285 1094 1566 303 1100 1589 307 1117 1607 313 1126 1608 323 1127 1609 348 1128 1638 352 1129 1639 365 1130 1640 1141 386 1662 1150 461 1152 1643 473 1161 1664 499 1162 1645 521 1164 1673 540 1170 1674 544 1171 1676 579 1185 1689 583 1186 1711 584 1191 1816 587 1192 1821 588 1194 1842 602 1196 1867 618 1197 1901 627 1220 1913 628 1231 1956 631 1232 1961 643 1241 1962 651 1279 1988 697 1280 1989 698 1281 1994 699 1282 1995 700 1302 2007 711 1303 2011 714 1304 2017 720 1305 2060 745 1329 2061 753 1330 2062 754 1346 2063 - 2 - t P 2072 2073 2074 2103 2127 2140 2148 2192 2193 2194 2195 2197 2201 2202 2203 2223 2241 2254 2255 2276 2277 2278 2332 2337 2339A 2340A 2341 2342 2344 2345 2353 2356 2382 2385 2388 2390 2422 2423 2469 2477 2478 2539 2540 2556 2577 2578 2579 2586 2587 2590 2623 2630 2635 2636 2644 2645 2646 2652 2699 2704 2711 2712 2713 2715 2718 2719 2720 2730 2796 2800 2801 2821 2825 2835 2836 2837 2902 2903 2919 2933 2934 2935 2936 2940 29)+l 2942 2946 2962 2963 2970 2971 2972 2973 2974 2975 2976 2977 3001 3008 3009 3010 3011 3012 ;3013 3015 3040 3041 3042 3043 3044 3045 3085 3086 3087 3088 3089 3122 3123 3127 3237 3339 3341 3351 3355 - 3 - 3356 3357 3362 3365 3384 3385 3394 3395 3423 3467 3560 3562 3576 3603 3634 3635 3643 3646 3674 3675 3676 3685 3688 3691 3692 3706 3708 3713 3724 3727 3729 3756 3762 3772 3796 3797 3798 3888 3889 3927 3928 3929 3930 3931 3932 3964 3965 3974 3975 3992 *3014 r aggregating Tft Thousand Nine Hundred Fifty Six And i-- - r 91/100 Dollars ($10,956.97 ), and no others have been paid or partially paid, since the filing of said Superintendent of Streets list of unpaid assessments, and that there now remains unpaid the sum of Twenty Thbusnnd Six Hundred Forty Three & 47/100 Dollars (0 20,643.47) upon the assessments shown in the said list other than those hereinbefore noted as having been paid, or partially paid. Reference is hereby made to Resolution of Intention No. 2851, adopted by the City Council of said City on the 9th day of August 1943, for a description of the work herein mentioned, and also to the list of unpaid assessments filed as above noted for the assessments unpaid, and WHEREAS, interested persons were notified in the manner required by law to appear before the City Council of said City, in the Council Chamber of the City Hall, at the hour of four (4:00) otclock P. M. of Monday, the 14th day of August, 1944, and show cause why bonds should not be issued upon the security of the aggregate of the unpaid assessments herein noted, and WHEREAS, notice was duly given as required by law that serial bonds to represent unpaid assessments and bearing interest at the rate of five per cent (5/) per annum, will be issued hereunder in the manner provided by 04 the "Improvement Bond Act of 1915," being Division 10 of the Streets and Highways Code of the State of California, the last installment of which bonds shall mature three (3) Years from the second day of July next succeeding ten (10) -4- f f 1 months from their date, and WHEREAS, all interested persons having appeared before this City Council and having been given full opportunity to show cause why bonds should not be issued upon the security of the unpaid assessments shown on the said list, and all objections presented having been heard and considered; NOW, THEREFORE, BE IT RESOLVED AND by the said City Council, as follows: 1. That the.City Council does hereby find and determine that no cause has been shown why bonds should not be issued upon the security of the unpaid assessments, and does hereby overrule all objections thereto. 2. That serial bonds shall be issued upon the security of the said unpaid assessments to the said amount of 3. That the said bonds shall be twenty -four (24) in number, known as Series Mpff , and shall be dated the 14th day of August 1944, and bear interest at the rate of five per cent (5%) per annum, and the denominations of said bonds and the dates of the respective maturities thereof, shall be as follows: Bond Number Amount of Bond Date,of Maturity 1 1,000.00 July 2nd, 1945 2 1,000.00 July 2nd, 1945 3 1,000.00 July 2nd, 1945 4 1,000.00 July 2nd, 1945 5 1,000.00 July 2nd, 1945 6 160.86 July 2nd, 1945 7 1,000.00 July 2nd, 1946 8 1,000.00 July 2nd, 1946 9 1,000.00 July 2nd, 1946 10 1,000.00 July 2nd, 1946 11 1 O00.00 July 2nd, 1946 12 160.86 July 2nd, 1946 - 5 - 8 Bond Number 13 1 5 1 16 17 18 Amount of Bond $ 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 160.86 Date of Maturity July 2nd, 1947' July 2nd, 1947 July 2nd, 1947 July 2nd, 1947 July 2nd, 1947 July 2nd, 1947 19 1,000.00 July 2nd, 1948 20 1,000.00 July 2nd, 1948 21 1,000.00 July 2nd, 1948 22 1,000.00 July 2nd, 1948 23 1.000.00 July 2nd, 1948 24 160.89 July 2nd, 1948 Total $20,643.47 4. That the first coupon of interest on said bonds shall be for interest from the 3rd day of August, 1944, to the 2nd day of January, 1945, and the several coupons of Interest thereafter shall each be for the semi - annual interest. 5. That the signature of the Treasurer of the said City upon the coupons attached to the said bonds shall be lithographed or printed signature in place of a signature by hand. 6. That the City Clerk be and he is hereby authorized and directed to deliver forthwith the bonds hereinbefore enumerated to the District Bond Company, assignee of the contractor, in satisfaction of the balance due upon its assessment and warrant. I HEREBY CERTIFY that the above and foregoing Resolution was duly passed and adopted by the City Council of the City of Newport Beach, California, at an adjourned regular meeting of said City Council, held on the 14th day of August, 1944, by the following vote, to -wit: Ayes, uncilmen ae , 1'�A,`l• � Noes, Councilmen 'V\0-n e_ , Absent, Councilmen r- anke , (SEAL) City Clerk of the City of Newport Beach, California -7 -