HomeMy WebLinkAboutAgenda Report - May 16, 1984 (27)RFS. DBTE VIINING
UNPAID ASSFSSMWr
AND ALMICRI Z I NG
I SStlANCE OF BCN)S
` UDI LNITID
\\ DCMNIUM ASSESS-
MENT DISTRICT
BFAUrIFICATICN
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Following introduction of the matter by City Clerk Reimehe,
Council, on motion of Council Mmber Reid, Olson second,
adopted Resolution No. 84-057 - Resolution Determining
unpaid Assessments and Providing for Issuance of Bonds —
Lodi United Downtown Assessment District Beautification
Project. The motion was carried by unanimous vote.
RESOLUTION NO. 84-057
BEFORE THE CITY COUNCIL OF THE CITY OF
LODI, CALIFORNIA
A RESOLUTION DETERMINING UNPAID ASSESSMENTS
AND PROVIDING FOR ISSUANCE OF BONDS
LODI UNITED DOWNTOWN ASSESSMENT DISTRICT
BEAUTIFICATION PROJECT
RESOLVED, by the City Council of the City of Lodi, California, that
WHEREAS, said Council did on February 22, 1984, adopt its Resolution No. 84-17, a
Resolution of Intention to Acquire and/or Construct Improvements, relating to the
acquisition and/or construction of public improvements in said City under and pursuant to
the provisions of the Municipal Improvement Act of 1913. Division 12 of the Streets and
Highways Code of the State of California, and did therein provide that serial bonds would
be issued pursuant to the provisions of the Improvement Bond Act of 19-15, Division 10 of
said Code, reference to said Resolution hereby being expressly made for further
. particulars;
WHEREAS, notice of the recordation of the assessment and of the time within
which assessments may be paid in cash has been duly published and mailed in the manner
provided by law, and the time so provided for receiving the payment of assessments in
cash has expired, and the Director of FInance has signed and filed in his office a list of all
assessments which now remain unpaid,. Hnd
WHEREAS, said Council has duly considered said list and has determined that the
same is an accurate statement thereof;
NOW, THEREFORE, IT IS ORDERED as follows;
1. That the assessments in said unpaid list which now remain unpaid, and the
aggregate thereof, are as shown in Exhibit A, hereto attached, and by reference made a
part hereof.
2. That for a particular description of the lots and parcels of land beari-ng the
respective assessment numbers set forth in said unpaid list and upon which assessments
remain unpaid, severally and respectively, reference is hereby made to the assessment and
to the diagram recorded in the office of the Director of Public Works of said City after
confirmation by said Council, the several lots or parcels of land represented by said
assessment numbers being so numbered and designated upon said'°diagram and assessment
as so confirmed and recorded, severally and respectively.
3. The unpaid list is in the amount of $388,720,78_, and bonds shall be issued upon
the security of said unpaid assessments in said amount and in accordance with the
provisions of the Improvement Bond Act of 1915, Division 12 of the Streets and Highways
Code of the State of California, and under and pursuant to the provisions of said
Resolution of intention No. 84-17 and the proceedings thereunder duly had and taken; that
said bonds shall be in fully registered form only and shall not be de -registerable, shall be
numbered in sequence, shall be dated May 24, 1984, shall be in denominations of $1,000 or
Integral multiples thereof, and their respective interest rates and dates of maturi-ty are as
shown in Exhibit B, hereto attached, and by reference made a part hereof. The bonds
-1-
shall bear interest from May 24, 1984, which shall be payable semi-annually on the second
day of January and July in each year, except that the first interest shall be payable on the
second day of January, 1985.
4. Said bonds shall be issued in series, and the unpaid assessments as shown on
said list filed with the Director of Finance of said City and determined by said Council,
together with the Interest thereon, shall remain and e.onstitute 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 to the number of
series of bonds issued, and an annual proportion of each assessment shall be payable in
each year preceding the date of maturity for each of the several 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 taxes of said City on real
property are taxable, and shall become delinquent at the same time and in the same
proportionate amounts and bear the same proportionate penalties for delinquency.
5. The Director of Finance shall establish a special reserve fund as additional
security for the payment of the bonds as provided in Part 16 of the improvement Bond Act
cf 1915 in the amounts and in accordance with the terms of the offer to purchase said
bonds dated April 2, 1984 by Wulff, Hansen do Co., the purchaser of said bonds, on file
with the City Clerk of said City, to which reference is made for further particulars.
6 Said bonds shall be signed by the City Clerk and Director of Finance of the
City, or bear the engraved, printed or lithographed signature of said officers, and the
official seal of said City may be affixed to t34e bonds by printed. lithographee or other
reproduction thereof. Said bonds shall be substantially in the form set forth in the
Improvement Bond Act of 1915, and are payable at the office of the registrar and paying
agent of said City, the Bank of America National Trust cit Savings Association, Corporate
Trust Department, San. Francisco, California. Saiel Director of Finance and City Clerk are
hereby authorized and directed to execute said bonds.
7. Each of said bonds is transferable only upon the registry book to be
maintained by the registrar and paying agent upon surrender of the bond duly endorsed or
accompanied by a written instrument of transfer satisfactory to said registrar and paying
agent and executed by the registered holder thereof, or by attorney duly authorized in
writing, and thereupon one or more new fully registered bonds of authorized
denominations and of the same maturity, aggregating the principal amount of the bond
surrendered for transfer, shall be issued to the transferee or transferees in exchange
therefor, and upon payment of the City's and registrar's reasonable charges, if any,
including any tax or governmental charge that may be imposed in connection with such
transfer and exchange. No such transfer and exchange shall be required to be made
between the June 17th or December 18th next preceding an interest payment date and
such interest payment date, nor after notification to the registrar of a temporary
suspension period pending selection of bonds for call and redemption, nor as to such bonds
selected for call and redemption. Bonds so transferred shall bear interest from May 24,
1984, or the date prior to transfer to which interest has been paid, whichever is later.
-2-
8. The City Council covenants with the holders of said bonds to be issued
herein that it will, within one hundred fifty U 50) days following the due date of any
delinquent installment of assessments securing the bonds, commence and thereafter
diligently prosecute to completion a foreclosure action regarding such delinquent
installment of assessment..
9. That the City Clerk shall forward to the Director of Finance and County
Auditor a certified copy of this Resolution.
DATED: May 16, 1984.
I, ALICE M. REIMCHE, City Clerk of the City of Lodi, do hereby certify that
Resolution No. 84- 057 was passed and adopted at a regular meeting of the City Council
of the City of Lodi, held May 16, 1984, by the following vote
AyES: Councilmen- Hinchman, Pinkerton, Olson, Reid, and
Snider (Mayor)
NOES: Councilmen - None
ABSENT: Councilmen - None
ABSTENTIONS: Councilmen -
A l- M. R CH rty Clerk
LODI UNITED DOWNTOWN ASSESSMENT DISTRICT
BEAUTIFICATION PROJECT
CITY OF LODI, CALIFORNIA
LIST OF UNPAID ASSESSMENTS
Assessment No. Des��cri tio�nAmount
County AsseParcel No.
1
043-022-05
$4,420.50
4
043-024-03
560.47
5
043-024-02
588.50
6
043-024-01
1,749.77
7
043-024-04
1,800.76
11
043-032-06
676.89 t
12
043-032-07
1,398.26 F
13
043-034-08
864.78
14
043-043-01
2,198.13 E
15
043-043-02
350.24 A
17
043-043-12
900.23 E
21
043-042-04
1,443.72.
22
043-050-05
928.14
23
043-050-06
928.14
24
043-050-16
1,055.05
25
045-020-53
893.55
26
045-210-01
3,I 51.02
29
043-OWI8
20,294.30
30
043-050-17
8,786.61
31
043-044-05
3,870.49
32
043-044-12
638..00
34
043-044-04
11,830.50
37
043-043-09
4,373.41 '
38
043-043-08
8,678.06
39
043-043-07
8,678.06 }
42
043-034-07
4,383.85
43
043-034-06
4,343.81
44
043-034-05
5,104,74
?c
45
043-034-04
ll,418.60
47
043-032-16
9,360.10x:
48
043-032-05
3,.129.94
49
043-032-04
5,351-.59
51
043-031-05
3,828.49
54
043-033-09
6,856.13 1
55
043-033-08
1,4`70.38
56
043-033-07
i
1,441.55 ;
57
043-033-06
2,277.64
58
043-033-10
229.68
61
043-0333-04
4,117.34
62
043-033-03
8,5 6.61
63
043-024-09
6,806.76
64
043-024-08
3,376.79
66
043-024-06
5,,543.12
67
043-024-05
15,539.50
68
043-026-01
11,731.80
69
043-026-02
9,320.82
70
043-026-15
5,633.89
71
043-026-13
4,281.27
72
043-026-12
4,281.27
73
043-026-14
6,856.13
74
043-035-01
4,356.92
75 ,
043-035-02
4,098.40
76
043-035-31
3,245.47
77
043-035-30
3,419.95
78
043-035-29
4,857.89
' 84
043-036-20
13,961.90
86
043-036-03
3,500.22
87
043-036-19
2,898.91
89
043-036-16
5,340.53
FX I I I B IT A, Page I
LODI UNITED DOWNTOWN ASSESSMENT DISTRICT
BEAUTIFICATION PROJECT
CITY OF LODI, CALIFORNIA.
LIST OF UNPAID ASSESSMENTS
Assessment No.
Description
Amount
County Assessor`s Parcel No.
91
043-036-14
$ 958.29
92
043-046-01
3,991.04
93
043-046-05
1,414.52
94
043-046-06
2,232.05
95
043-046-03
3,062.85
96
043-046-04
4,083.80
97
043-046-15
4,857.89
98
043-046-14
4,857.89
99
043-046-13
4,857.89
100
043-OWIO
4,857.89
101
043-050-13
10,049.70
104
045-210-08
1,448.45
105
045-210-09
1,151.44
106
043-050-12
2,363.48
110
043-046-09
1,074.54
111
043-046-08
742.51
112
043-046-07
843.44
113
043--045-07
765.96
114
043--045-06
765.96
115 •
043•-045-05
2,365.85
118
043-636-11
1,429.80
119
043-036-10
778.73
121
043-036-08
612.77
1221
043-036-07
919.15
123
043-036-06
765.96
124
043-036-05
2,365.85
125
043-035-17
1,599.89
126
043-035-16
765.96
127
043-035-15
995.75
128
043-035-14
536.17
129
043-035-13
765.97
130
043-035-12
758.87
136
043-035-06
1,599.89
137
043-026-11
8-45.85
138
043-026-10
1,409.75
140
043-026-09
101.91
141
043-026-08
1,093.22
142
043-026-07
979.70
143
043-026-06
1,343.18
144
043-026-03
1,507.63
145
043-026-05
912.24
146
043-026-04
1,693.28
147
043-028-01
1,472.05
149
043-028-03
666.10
150
043-028-04
666.10
151
043-028-05
666.10
153
043-028-07
1,332.20
154
043-028-08
2,517.80
155
043-028-09
175.43
157
043-047-04
6,845.75
158
043-047-05
350.08
159
043-048-01
2,886.43
160
043-048-02
2,442.36
161
043-048-03
1,554.23
162
043-048-04
2,728.27-
163
043-035-27
1.961.05
TOTAL $388,720.78
EXHIBIT A, Page 2
BOND MATURITY SCHEDULE
LODI UNITED DOWNTOWN ASSESSMENT DISTRICT
BEAUTIFICATION PROJECT
CITY OF LODI, CALIFORNIA
BOND SERIES 1984-1 $388,720.78
Interest Rate
Annual Amount
Maturity Date
6.50%
$39720.78
July 2, 1985
7.00%
$15,000.
July 2, 1986
7.5Q%
$15,000.
July 2, 1987
8.00%
$201,000.
July 2, 3988
8.75%
$20,000.
July 2, 1989
9.00%
$20,000.
July 2, 1990
9.15%
$25,000.
July 2, 1991
9.25%
$259000.
July 2, '1992
9.50%
$25,000.
July 2, 1993
9.60%
$30,000.
July 2, 1994
9.70%
$30,000.
July 2, 1995
9.80%
$35,000.
July 2, 1996
9.85%
$40,000.
July 2, 1997
9.90%
$40,000.
July 2, 1998
9.90%
$45,000.
July 2, 1999
i
ic
DECLARATION OF MAILING
NOTICE TO PAY ASSESSMENTS
^7
LODI UNITED DOWNTOWN ASSESSMENT DISTRICT
BEAUTIFICATION PROJECT
CITY OF LODI, CALIFORNIA
I, the undersigned, declare and say:
That I am a citizen of the United States and over the age of eighteen (18)
years. That for and on behalf of the Director of Public Works of the City of Lodi, I
mailed on April 7, 1984 to each person owning real property in the assessment district at
his last known address as it appears on the tax rolls of said City or on file in the office of
the City Clerk, or to both addresses if they were not the same, or to general delivery
when no address appeased, a statement containing a designation by street number or other
description of property assessed sufficient to enable the owner to identify the same, the
amount of the assessment, the date of recordation of said assessment, the time and place
of payment thereof, the effect of failure to pay within such time, and a statement that
bonds will be issued upon unpaid assessments pursuant to the provisions of the
Improvement Bond Act of 1915, Division 12 of the Streets and Highways Code of the State
of California, in form a copy of which notice is hereto attached and marked Exhibit A,
and by reference made a part hereof.
I declare under penalty of perjury that the foregoing is true and correct.
Executed on May 1, 1984, at Stockton, California.
®/ A I r
P e �• a Y 9
NOTICE TO PAY .ASSESSMENTS e
LODI UNITED DOWNTOWN ASSESSMENT DISTRICT
BEAUTIFICATION PROJECT
CITY OF LODI, CALIFORNIA
NOTICE 1S HEREBY GIVEN that all owners of real property liable to be assessed to pay the
costs and expenses of the acquisition and/or construction of improvements described in Resolution
No. 84-17, A Resolution of Intention to Acquire and/or Construct Improvements, adopted by the
City Council of the City of Lodi on February 22, 1984, are hereby notified that on April 5, 1984,
the assessment and diagram to pay the costs and expenses of said improvements was recorded in
my office.
Said assessments are due and payable immediately at the office of the Director of Finance,
City Hall, 221 W. Pine Street, Lodi, California 95240, and must be paid within the period expiring
May 5, 1984.
In the event of the failure to pay before the expiration of said period, serial bonds to
represent the unpaid assessments and bearing interest at the rate of not to exceed twelve percent
(12%) per annum will be issued pursuant to the improvement Bond Act of 1915, Division 10 of the
Streets and Highways Code, the last installment of such bonds to mature not to exceed fourteen
(14) years from the second day of July next succeeding ten (10) months from their date, and the
applicable provisions of Part 11.1 of said Act, providing an alternative procedure for the advance
payment of assessments and the calling of bonds, shall apply.
JACK L. RONSKO, Director of Public Works
City of Lodi, County of San Joaquin,
State of California
NOTICE: if you cannot, or do not wish to, pay your assessment in cash before R1ay 5, 1984, no
act o s required by you, and the amount of your assessment will be billed in annual installments as
a part of your tax statement for general real property taxes payable at the same time and place as
your tax bill.
IF YOU WISH TO PAY IN CASH, YOUR CHECK PAYABLE TO THE CITY OF LODI
must be delivered to the Director of Finance, City of Lodi, City Hall, 221 IV. Pine Street, Lodi, CA
95240 BEFORE MAY 5, 1984, f►'ITN A COPY OF THIS NOTICE FOR IDENTIFICATION. Partial
payments in cash before that date are also permitted, with the unpaid balance billed on your tax
bill as above stated. The amount(s) shown below include a charge of 3.25` for bond discount and
5% for bond reserve. Cash payments should be made for 91.75% of the stated amount(s) as these
charges for bond discount and bond reserve are not applicable to assessments paid in cash and are
required only for unpaid assessments for which bonds will be issued.
Your assessment is as follows:
Assessment No.
Descript ion
Amount
EXHIBIT A
DEDUCT 8.25% DISCOUNT FOIZ FULL. OlZ PARTIAL C ASIi PAYMENTS.
LOD1 UNITED DOWNTOWN ASSESSMENT DISTRICT
BEAUTIFICATION PROJECT
CITY OF LOD1, CALIFORNIA
LIST OF UNPAID ASSESSMENTS
WHEREAS, an assessment and diagram was recorded in the office of the
Director of Public Works of the City of Lodi on April 5, 1984, for the acquisition and/or
construction of the improvements described in Resolution No. 84-17, a Resolution of
Intention to Acquire and/or Construct Improvements, adopted by the City Council of said
City on February 22, 1984; and
WHEREAS, notice of the recordation of said assessment and of the time and
place where and within which said assessments were to be paid has been duly given in the
time and form provided by law, the time for payment of assessments in cash has expired,
and a portion of said assessments remains unpaid;
NOW, THEREFORE, 1, the undersigned Director of Finance of said City., do
hereby certify that the list hereinafter set forth is a true-, correct and complete list of all
assessments unpaid upon said assessment, and is hereby made and filed by me according to
law, and said list with the respective assessment and diagra-m numbers of the lots or
parcels of land assessed, and the amounts unpaid thereon, is as hereinafter set forth.
� The total or aggregate amount of assessments unpaid is $3-88,720.78.
IN WITNESS WHEREOF, I have hereunto set my hand this 11th day of
May, 1984.
Director of Finance, City of Lodi
LODI UNITED DOWNTOWN ASSESSMENT DISTRICT
BEAUTIFICATION PROJECT
CITY OF LODI, CALIFORNIA
LIST OF UNPAID ASSESSMENTS
Assessment No.
Description
Amount
County Assessor% Parcel No.
1
043-022-05
$4,420.50
4
043-024-03
560.47
5
043-024-02
588.50
6
043-024-01
1,749.77
7
043-024-04
1,800.76
11
043-032-06
676.89
12
043-032-07
1,398.26
13
043-034-08
864.78
14
043-043-01
2,198.13
15
043-043-02
350.24
17
043-043-12
900.23
21
043-042-04
1,443.72
22
043-050-05
928.14
23
043-050-06
928.14
24
043-050-16
1,055.15
25
045-020-53
893.55
26
045-210-01
3,151.02
29
043-050-18
20,294.30
30
043-050-t7
8,786.61
31
043-044-05
3,870.49
32
043-044-12
638.00
34
043-044-04
11,830.50
37
043-043-09
4,373.41
38
043-043-08
8,678.06
39
043-043-07
8,678.06
42
043-034-07
4,383.85
43
047-034-06
4,343.81
44
043-034-05
5,104.74
45
043-034-04
1-1,418.60
47
043-032-16
9,360:10
48
n43-032-05
3,129.94
49
043-032-04
5,351.59
51
043-031-05
3,828.49
54
043-033-09
6,856.13
55
043-033-08
1,470.38
56
043-033-07
1,441.55
57
043-033-05
2,277.64
58
043-033-10
229.68
61
043-033-04
4,117.34
62
043-033-03
8,536.61
63
043-024-09
6,806.76
64
043-024-08
3,376.79
66
043-024-06
5,513.12
67
043-024-05
15,539.50
68
043-026-01
11,731.80
69
043-026-02
94320.82
70
043-026-15
5,633.89
71
043-926-13
4,281.27
72
043-026-12
4,281.27
73
043-026-14
6,856.13
74
043-035-01
4,356.92
75
043-035-02
4,098.40
76
043-035-31
3,?45.47
77
043-035-30
3,419.5
78
043-035-29
4,857.89
84
043-036-20
13,961.90
86
043-036-03
3,500.22
87
043-036-19
2,898.91
89
043-036-16
5,340.53
FX HIBIT A, Page I
LODI UNITED DOWNTOWN ASSESSMENT DISTRICT
BEAUTIFICATION PROJECT
CITY OF LODI, CALIFORNIA
LIST OF UNPAID ASSESSMENTS
Assessment No.
Description
Amount
County Assessoes Parcel No.
91
043-036-14
$ 958.29
92
043-046-01
3,991.04
93
043-046-05
1,414.52
94
043-046-06
2,232.05
95
043-046-03
3,062.85
96
043-046-04
4,083.80
97
043-046-15
4,857.89
98
043-046-14
4,857.89
99
043-046-13
4,857.89
100
043-050-10
4,857.89
101
043-050-13
10,049.70
104
045-210-08
1=448.45
105
045-210-09
1,151.44
106
043-050-12
2,363.48
110
043-046-09
1,074.54
111
043-046-08
742.81
112
04.3-046-07
843.44
113
043-045-47
765.96
114
043-045-06
765.96
r .'
115
043-045-05
2,365.85
118
043-036-11
1,429.80
119
043-036-10
778.73
121
043-036-08
612.77
122
043-036-07
919.15
123
043-036-06
765.96
124
043-036-05
2,365,85
r
125
043-035-17
1,599.89
126
043-035-16
765.96
127
043-035-15
995.75
128
043-035-14
536.17
129
043-035-13
765.97
—'
130
043-035-12
758.87.,<,::�;'
136
043-035-06
1;599.89
137
043-026-11
845.85
138
043-026-10
1,409.75
140
043-026-09
10l.91'
4
F
141
043-026-08
1,093.22
142
043-026-07
979.70
143
043-026-06
1,343.18
144
043-026-03
1507.63Y
145
043-026-05
912.24
146
043-026-04
1,693.28
147
043-028-01
1,472.05
149
043-028-03
666.10
150
043-028-04
666.10
151
043-028-05
666.10
153
043-028-07
1,332.20
154
043-028-08
2,517.80
155
043-028-09
175.43
157
043-047-04
6,845.75
158
043-047-05
350.08
159
043-048-01
2,886.43
160
043-048-02
2,442.36'
161
043-048-03
1,5 4.23
162
043-048-04
2,728.27-
728.27163
163
043-035-27
1,961.05
TOTAL
$388,720.78
EXHIBIT A, Page 2