HomeMy WebLinkAboutResolution No. 1216RESOLUTION. NO.
A -RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF AZUSA,-}CAL,IFORNIA, RELATING TO
THE ISSUANCE OF STREET IMPROVEMENT BONDS
PURSUANT TO RESOLUTION OF INTENTION NO.
1192, DETERMINING THE AMOUNT.OF UNPAID
ASSESSMENTS, PRESCRIBING THE DENOMINA-
•TIONS OF SUCH BONDS AND PROVIDING FOR,
THEIR ISSUANCE
WHEREAS-,. ;pursuant to. statute; notice of 'fil ing list
of unpaid assessments was duly given in.the manner and form
required by law,' that the warrant,'assessment and diagram
recorded on the 20th day of May, 1930, for the work and improve-
ment made by C. L: HILL upon that certain contract awarded to
him on the 10th day of February,, 1930, on Orange Avenue and
other streets in said City, and that.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) full days from the date of the.said warrant., the said
Street Superintendent duly made and filed with the City Clerk
of the said City of Azusa a complete list of all assessments
unpaid upon the said assessment, which list.is now on file in
the office of the City Clerk of the said City, now;upon evidence
shown this Council determines that the assessments therein
mentioned were then unpaid, the total aggregate thereof being
the sum of Three Thousand Seven.Hundred Fifty.and 93/100
Dollars ($3,.750.93).
That assessment numbered 14
aggregating the sum of Eighty -Four and 85/100 Dollars ($84.85),
and no others, have since been paid, and that there now'remains
unpaid the sum of Three Thousand Six Hundred Sixty-Six'and.
08/100 Dollars ($3,666.08), upon the assessments shown upon.
the said list other than those hereinbefore last noted, as
having been paid..
Reference is hereby made to Resolution of Intention
No. 1192 of the.City Council of the City of Azusa, California,
passed on the.9th day of Dedember,_1929, for .a complete descrip-
tion 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 the
said -City of Azusa, California, in the. Council Chamber of the
City Hall.in the said City, at ,the hour of seven -thirty (7:30)
o'clock p.m., of Monday, the 7th day of July, 1930, and show
cause why bonds should not be'''issued upon the security of the
unpaid assessments shown on'the;.Street Superintendent's list,
and
WHEREAS, notice was, duly given .in the manner and
form required by law that serial bonds to represent unpaid
assessments and bearing interest ,at •the rate .of seven per cent
(7%) per. annum, will be -,issued hereunder in•the manner provided
by the "Improvement Bond'.Act'of 1915.", the•last_installment of
which bonds shall mature fourteen (14) years from the .2nd day
of July next succeeding ten (10) months from their date.
And 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 ob-
jections.presen.ted having been heard and considered,
NOW, THEREFORE, BE IT RESOLVED, 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
and does hereby direct the issuance o£.said bonds, and further
2
BE IT. RESOLVED AS 'FOLLOWS: That aerial 'bonds, shall
be issued upon.the security of the said unpaid assessmenta:to
the said amount of Three Thousand Six Hundred Sixty-Six,and.
08/100 Dollars (3,666.08):.,
The .said bonds shall be fifteen (15) in number, known
as ,Series "N",:and shall be dated the 7th day of.July, 19309
and bear interest at.the rate of seven per cent (7%) per
annum, and the•denominations of `the said bonds and the dates
of the' respective maturities thereof•shall-be as follows:
Bond No, Amount Date of Maturity
1 $244.40 July 21 1931
2 244:40 " 1932
3, ; 244.40 '! 1933.
4 244.40 'r 1934
5 244.40.: i, 1935
6,244.40 " 1936
7 •244.40 " . 1937
8 244.40 " 1938 .
9 244.40 " '1939 `.
10. 244:40 a 1940.
11. 244.40`. a 1941
12 ' 244.40 " 3942
'13 244.40 rr 1943
fi4 '. - 244.40 r' 1944
15, 244.48 rr 1945 '
The first:.coupon of,;;interest shall be for the interest
from the 26th .day of June; 1930, to the ..'2rid'day.of January, 1931v.
and the. several coupons of,ihterest thereafter shall be for the
semi-annual interest, ands':
BE IT FURTHER RESOLVED, that the signature .of the
Treasurer of the City „of4.Azusa•upon the coupons attached to the
said bonds shall•'be .lithographed,;o.r,,printed.;sigiiatizr6' in place of
a signature:by.hand,' and,
BE IT ALSO RESOLVED;,, that •.the City Clerk of the. said
City of Azusa, California, be and -she is hereby authorized and
directed to.deliver.forthwith the bonds,hereinbefore enumerated.
to DISTRICT BOND COMPANY.in satisfaction of the balance due upon
its assessment and, warrant.
I HEREBY CERTIFY.that the foregoing resolution was
3