HomeMy WebLinkAboutResolution No. 872338. • •
RESOLUTION NO. 872. '71
AN ORDER PROVIDING FOR THE ISSUANCE OF aTREET IJMOVEM_;NT
BONDS, PRESCRIBING THE DEI;OI;IIIIATION OF SUCH BONDS AND OF THE
IIATEREST COUPONS ATTACHED THERETO.
WHEREAS, the Board of Trustees of the city of Azusa
did, on the 4th day of11.1ay, 1925, pass its Resolution of Inten-
tion he. 832 for the construction of sidewalks and curbs on
Ninth Street under and pursuant to the provisions of the
"Improvement Act of 1911", and the amendments thereto and to
the resolutions, notices and other proceedinps of said Board
duly adopted and taken, reference to said Resoltuion of lnten-
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 street ouperintendent of said'city and this Board of
Trustees whereupon an assessment, diagram and warrant were made,
recorded and deliir---q to the contractor in time, form and manner
as required by said act, and the contractor having made due return
thereon and the same having been duly recorded; and
.7hEREAS, on December 10, 1925, the Street Superintendent
of said City made and filed with the clerk of this City a
complete list of all assessments unpaid thereunder upon the
respective assessment or diagram numbers thereon, whereupon
said clerk gave notice of the filing of said list, and fixed
in said notice Idonday the 21st day of December, 1925, at the
hour of 7:30 o'clock P..:. as the time when interested persons
should appear before the .Hoard 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 deter-
mined that the assessments unpaid thereunder and the aggregate
amounts of same are as follows:
IS THE 'SUIT OF N1348.09
NOW TH2R'FORa, in consideration of the premises, the
Board of Trustees of the City of Azusa do order as follows:
Section 1. 'That bonds shall be issued upon the secarity
of the unpaid assessments to said amount of ;1348.09
in accordance with the provisions of said improvement act and
the "Improvement Bond .;,ct of 1915" and under and pursuant to
the resolutions, notices and proceedings of said board duly
adopted and taken; said bonds shall be called "Improvment
Bonds'', shall be fifteen in number, shall be dated December
10th, 1925, and bear interest at the rate of seven (7) per
cent per annum from December 10, 1925; and the denominations of
said bonds and the interest coupons required to be attached
thereto, with their respective numbers and dates of maturity,
are as follows:
Series number of Denomination Date Payable
i:umber Bond
A
•
q;?89.88
0
THE TOTAL
OR AGGREGATE MOUNT
OF
SAID A SSESSLIMT UIIPAID
IS THE 'SUIT OF N1348.09
NOW TH2R'FORa, in consideration of the premises, the
Board of Trustees of the City of Azusa do order as follows:
Section 1. 'That bonds shall be issued upon the secarity
of the unpaid assessments to said amount of ;1348.09
in accordance with the provisions of said improvement act and
the "Improvement Bond .;,ct of 1915" and under and pursuant to
the resolutions, notices and proceedings of said board duly
adopted and taken; said bonds shall be called "Improvment
Bonds'', shall be fifteen in number, shall be dated December
10th, 1925, and bear interest at the rate of seven (7) per
cent per annum from December 10, 1925; and the denominations of
said bonds and the interest coupons required to be attached
thereto, with their respective numbers and dates of maturity,
are as follows:
Series number of Denomination Date Payable
i:umber Bond
A
1
q;?89.88
July
2,
1927
A
2
89.88
July
2,
1928
A
3
89.88
July
2,
1929
A
4
89.88
July
2,
1930
A
5
89.88
July
2,
1931
0
89.88
July
2,
1932
A
7
89.88
-July
2,
1933
A
8
89.88
July
2,
934A
1934--
A
9
89188
July
2,
1935
10
89.88
July
2,
1936
i
11
89.88
July
2,
1937
A
12
89.88
July
2,
1938
A
13
89.88
July
2,
1939
A
14
89.88
July
2,
1940
A
15
89.88
July
2,
1941
339
Section 2. Said bonds shall be issued in seried, and the
unpaid assessments as shown on said list filed b,.- the :;nrerirntendent
of Streets and determined by the Board of 'Trustees together with
interest thereon, shall remain and constitute a trust fend for the
redemption and pa;,7nent of said bonds and of the interest which
340
may be due thereon, which unpaid assessments shall be payable
TJ
in annual series corresponding in number to the number of series
of bonds issued, and an even annual proportion of each assess-
ment 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, to-
gether with the annual interest thereon, shall in turn be pay-
able 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 penalties for delinquency.
Said bonds shall be signed by the Treasurer of said City
and countersigned by the clerk who whall affix thereto the
official seal of said City; the interest coupons affixed thereto
shall be signed by the Treasurer 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 Treas-
urer shall constitute and be 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.
The interest coupons attached to each of said bonds and
evidencing the interest to accrue thereon shall be numbered
consecutively and be substantially in the following form, to -wit:
Coupon No. 2 w 3.15
The City of Azusa, California will pay to the
bearer hereof on the second day of July, 1927,
423.15 at the office of the City Treasurer,
said sum being the semi-annual interest due
on Improvement Bond No. 1 of Series No. A
Dated: Dec. 10, 1925.
Wm. J. Holden W
Treasurer
Section 3. Said bonds shall be forthwith delivered to the
contractor in satisfaction of the balance due him upon his
assessment and warrant.
I hereby certify that the foregoing resolution was duly
and regularly adopted by the Board of Trustees of the City
0 0 341
of Azusa at a regular meeting thereof held on January 4,
1926, by the follwoing vote to -wit:
AYES: Durrell, I.`oon, ileier, Chenoweth, Peirce
NOES : None .
ABSENT: None.
Thereupon it ,,tas filed in my- office on the same
day, and recorded on pare of the record.
H. 1. Smith
Cler$.
(Seal)