HomeMy WebLinkAboutResolution No. 87834S
RESOLUTION N0. 878.
All 0?DER PROVIDI M FOR TIE ISSUANCE. OF STREET If.fi'RO'T :,iEIdT BOINDS,
PRESC?IBING THE DENOMMIATION OF SUCH BONDS AND OF THE INTEREST COUPONS
ATTACHED THER-7TO.
61]EREAS, the Board of Trustees of the Oity of Azusa did, on
the 20th day of July, 1925, pass its =Resolution of Intention 148. 844
for the improvement of Angeleno Avenue in the City of Azusa, under
and pursuant to the provisions of the "Improvement Act of 1911", and
the amendments thereto and to the resolutions, notices and other
proceedings of said Board duly adopted and taken, reference to said
Resolution of Intention being hereb, 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 Board of Trustees
whereur,on an assessment, dia-ram and warrant were made, recorded and
delivered to the contractor in time, form and manner as required by
said act, and the contractor having made due return theron and the
same having been duly recorded; and
rJfiEI on February 5th, 1926, the Street Superintendent
of said city made and filed with the clerk of this City a complete
list of all assessments unpaid therunder upon the respective assess-
ment or diagram numbers theron, whereupon said clerk gave notice of the:
filing of said list, and fixed in said notice I,`_onday the 15th day of
February, 1926, at the hour of 7:30 o'clock P.M. as the time when
interested persons miYht appear before the Board of Trustees and show
cause why bonds should not be issued upon the security of the unpaid
assessments shown on said list, said time being that of this regular
meeting of said board; and said board having heard all objections and
having: passed upon the same, it is hereby determined that the assess-
ments unpaid thereunder and the aguregate amounts of same are as
fol to ,�xIs
SSSS^I•.i i'.T
IIU?'r'.?
0 349
IESOLUTION NO. 878 --Continued---
TJ:'T , S3 L- ` ;1111 `,Li��"� 'U]'
L.i t 11•I'IPn1D _�S [.L :.;I:_,1-.lb 1: __ ..:.L �?IO .-V3?E �.
li:i0UII7.' OF - PAID
LOT BIrC: SUBDIVISIi<' A 3�3-Og
'IEIIT.
1
3
A
Azusa Heights Tract
7.14
M.B. 11-49
4
16
A
IT IT if
70.13
5
17
A
" " „
68.21
6
18
A
TV 11
68.21
11
23
A
" "
64.18
14
2
J
64.18
15
3
J
"
64.18
18
6
J
"
67.79
19
7
J
IfIfif
77.43
27
2
23
Hap of Azusa
1.06
15-93
29
4
23
" " "
1.06
?0
5
23
1.06
31
6
23
" „ "
1.06
44
15
11
64.18
47
16
11
" " "
64.18
48
19
11
64.18
51
22
11
64.18
5t;
23
11
64.18
53
24
11
"
64.18
54
1
39
192.55
68
15
38
68.65
69
16
38
68.65
TIE TOTAL 0R AGGREGAT's AMOUNT Or SAID .15:_. SP,4P.NT UPI' ID IS TIE -)Mi
;2 19270.62.
NOW THEREFORE, in consideration of the premises, the Board of
Tr A: tees of the City of Azusa do order as follows:
Section 1. That bonds shall be issued upon the security of the
unpaid assessments to said amount of "-1,270.62. in accordance with the
provisions of said i-.provement act and the "Improvement Bond Act of
lil5" and under and n.irsuant to the resolutions, notice and proceed-
ings of said board dul• adopted and ta?.en; said bonds shallbbe called
"Improvement Bonds", shall be fifteen in number, shall be dated
February 15th, 1926, and bear interest at the rate of seven (7) per
cent per annum from February 5th, 1926; and the denominations of said
bonds and the interest cour.ons reouired to be attached thereto, with
35®-
Sec. 2. Said bonds shall be issued in series, and the un-
paid assessments as shown on said list filed by the Superintendent
of Streets and determined by the Board of Trustees together with
interest thereon, shall remain and constitute a trust fund for
the redemption and payment of said bonds and of 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 proportion
of each assessment coming due in any year, together with the annual
interest thereon, shall in turn be payable in installments as
the general municipal 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 pen-
alties for delinquency.
Said bonds shall be signed by the Treasurer of said City and
counter -signed by the clerk who shall affix thereto the official
seal of said City; the interest coupons a fixed thereto shall be
signed by the Treasurer or bear his engrave, printed or lith-
•
•
their
respective
numbers
and dates of
maturity, are as
follows:
Series
Number
of
Number
Bond
Denomination
Date
Payable
B
1
IT84.71
July
2, 1927
IT
2
84.71
IT
21 1928
It
3
84.71
IT
2, 1929
IT
4
84.71
2, 1930
IT
5
84.71
29 1931
IT
6
84.71
IT29
1932
IT
7
_
84.71
"
29 1933
"
8
84.71
IT29
1934
IT
9
84.71
IT
2, 1935
"
10
84.71
IT
29 1936
IT
11
84.71
IT
20 1937
IT
12
84.71
IT
2, 1938
13
84.71
2, 1939
IT
14
84.71
"
2, 1940
IT
15
84.71
"
2, 1941
Sec. 2. Said bonds shall be issued in series, and the un-
paid assessments as shown on said list filed by the Superintendent
of Streets and determined by the Board of Trustees together with
interest thereon, shall remain and constitute a trust fund for
the redemption and payment of said bonds and of 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 proportion
of each assessment coming due in any year, together with the annual
interest thereon, shall in turn be payable in installments as
the general municipal 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 pen-
alties for delinquency.
Said bonds shall be signed by the Treasurer of said City and
counter -signed by the clerk who shall affix thereto the official
seal of said City; the interest coupons a fixed thereto shall be
signed by the Treasurer or bear his engrave, printed or lith-