HomeMy WebLinkAboutAgenda Report - December 16, 1981 (18)RESOLUTION NO. 81=
BEFORE THE CITY COUNCIL OF THE CITY OF
LODI, CALIFORNIA
TURNER ROAD AND CLUFF AVENUE ASSESSMENT DISTRICT NO. 1
A RESOLUTION DETERMINING UNPAID ASSESSMENTS
AND PROVIDING FOR ISSUANCE OF BONDS
RESOLVED, by the City Council of the City of Lodi, California,
that
WHEREAS. said Council did 'on April 15, 1981, adopt its Resolution
No. 81-39. a Resolution of Intention to Acquire and/or Construct
Improvements, relating to the acquisition andior construction of public
improvements in said City under and pursuant to the provisions of the
Municipal Improvement Act of 1911, and amendments thereto, and did
therein provide that serial bonds would be issued pursuant to the
provisions of the Improvement Bond Act of 1915, as amended, 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
i
and mailed in the manner provided by law, and the time so provided for j
receiving the payment of assessments in cash has been waived by all
owners of property assessed in said district, and the Director of Finance
has signed and filed in his office a list of all assessments which now
remain unpaid; and
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:
z 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 bearing 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 Superintendent of Streets (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 $1.588.000.00 and bonds
shall.be issued upon the security of said unpaid assessments in said
r
amount in accordance with the provisions of the Improvement Bond Act
of 1915, and under and pursuant to the provisions of said Resolution
-1-
No..81-39 and the proceedings thereunder duly had and taken; that said
bonds shall be 318 in number, shall be dated December 23, 1981, and the
detio®inaton of said bonds with their respective numbers, interest. .rate
,and''dates.of maturity are as shown in Exhibit B hereto attached and made
a part hereof by reference.
4. Said bonds shall be issued in series, and the unpaid assess-
ments as shown on said list filed with the Director of Finance of said
City and determined by said Council, together with tha 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 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
-see 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 of 1915 in the amounts and in
accordance with the terms of the offer to purchase said bonds dated
November 17, 1981 by Wulff, Hansen &_Co., the purchaser of said bonds.
6. Said bonds shall be signed by the Clerk and Director of
Finance of the City or bear the engraved, printed or lithographed
signature of the Director of Finance and the official seal of said City
may be affixed to the bonds by printed, lithographed or other repro-
duction thereof. The interest coupons affixed thereto shall be signed
by said Director of Finance 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 Director of Finance 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
registrable and subsequently de -registrable in accordance with applicable
.laws of the State of California, and shall be substantially in the form
set forth in the Improvement Bond Act of 1915 and are payable at the
office of the paying agent of said City. Said Director of Finance and
City Clerk are hereby authorized and directed to sign said bonds.
-2-
• The interest coupons attached to each of said bonds and
x' evideYieing the:.interest=consecutively-,
..to accrue thereon;. shall be numbered '
A
i
1'd.bthe following'form, to wit:
Coupon
CITY OF LODI
On the Second day of 19_, will pay to the bearer
hereof at.the:prin'cipa� office of the.paying agent, _Bank
of: -America-; National Trust Savings Association, San
Francisco;' California, the sum shown hereon, being the
interest due on Improvement Bond dated December 23 1981.
Turner Road and Cluff Avenue
Assessment District No. 1,
Bond Series 1981-1
k
rector of -Finance
8. The City Council covenants with the holders of said bonds to
be issued herein that it will, within one hundred twenty (120) days
following the due date of any delinquent installment of assessment
securing the bonds, commence and thereafter diligently.prosecute to
completion a foreclosure action regarding such delinquent installment
of -assessment, upon written demand of the bondholder therefor.
g. That the City Clerk shall forward to the Director of Finance
and -`County Auditor a certified copy of this Resolution.
:DATED-: December 16, 1981.
I, ALICE M. REIMCHE, City Clerk of .the City of Lodi, do_hereby.
cer ify that Resolution No. 81- was passed and adopted at a regular
meeting of the City Council of the City of Lodi, held December 16, 1981,
by the following vote:
AYES:
NOES
ABSENT:
ABSTENTIONS:
Councilmen -
Councilmen
Councilmen -
Councilmen -
ALICE M. , ty er
_ Y
C"
-3- T
LIST OF UNPAID ASSESSMENTS
" TURNER .ROAD AND CLUFF .AVENUE ASSESSMENT DISTRICT NO. 1
.. _ 1ODI, 'CALIFORNIA
Assessment No:
Description
Amount
(County Assessor's Parcel No.),
1
Parcel :l of map filed 1/9/81 in Bk. 9 of
Parcel Maps, page 216, San Joaquin County
Records, and also a portion of Assessor's
Parcel No. 049-020-15
$ 32,917..26
2
Parcel 2 of map filed 1/9/81 in Bk, 9 of
Parcel Mpas, page 216, San Joaquin County
Records, and also Assessor's Parcel No.
049-020-18
16,55,0-02-
6,550_.02-
3
3
Parcel 3 of map filed 1/9/81 .in Bk. 9 of
Parcel Maps, page 216, San Joaquin County
Records, and also a portion of Assessor's
Parcel No. 049-020-15
287,744.02
4
Parcel 4 of map filed 1/9/81 in Bk. 9 of
Parcel Maps, page 216, San Joaquin County
-
-Records-, and also Assessor's Parcel No.
049-020-14
62,582.62
5
049-080-26
,64
6,
049-080-25
1&,.51, 74
7
049-080-45
1654.319-.78
8
049-080-44
236,026.64
9
049-080-29
95--,032.60.
10
049-080-30
65,202.94
11
049.080-41
97,540:24
12
049-080-42
86,585.301
13
049-080-35 (Portion)
37,565.68
14
049-080-35 (Portion)
17,912.64>_
15
049-030-02 (Portion)
139,744.66
16
049-040-35
210",038.12
TOTAL $1,
588, 000.00;
BOND MATURITY SMDULE
TURNER ROAD -,: CLUFF,AVENUE -,ASSESSMENT DISTRICT NO. 1
INTEREST RATE -10%
Amoimt' Maturity bif Annus, e
-Iond-, NOS- Wi4*4,na 166 Dat
43i
00 -1983
VOY
21 5�6 00.01., w July 2-,-.
49 75 5.000000 135,000.00 July -2, 19$5 s
76 102 51000.00
103 129 5.000.100
130 156 51000000
157 183
184
210
Ill
237
238
264
265.---291
July
292 - 318
51000.00
5,000.00
5,000.00
59-000.100
5,-000.00
5,000.00
135,000-00
July
2,.1986
135,000-00
July
2, 1997
135,000-00
July
2, 1988
135,000-00
135,000-00
135,000-00
135,000-00
135,000-00
July 2, 1u90
July 2, 1991
July 2,-1-992:
July 2-,.:1993.
jr-ly 2. 1994
�.1_11 City -An'--- S> =-i
December 28, 1981
Mr. Paul Heurlin
San Joaquin County
Auditor -Controller
222 E. Webers Room 101
Stockton, CA 95202
Dear Mr. Heurlin:
Enclosed please find -4 certified copy of
Resolution No. 81-174 regarding the Turner
Road and Cluff Avenue Assessment District
No. -11 "A Resolution teeter -mining. Uzipaid
Assessments and PxovMinq for Issuance
of Bonds*, wbich was paissed and adopted
by the City Council of the City of Lodi
in a regular meeting held..December 16, 1981.
very truly yours,
Doreen L. Gaugel
Deputy City Clerk
Enc.
ea1w COUNCILHENRY A. GLAVES It E
- Cky Mana'�
TAMES A. MtCARTY Mayor T �j
XOSERT,G. MURPHY, Mayor Pro Ten" CITY OF LO D T 1 ALICE M. RfiMCC � C�
RICFIARO 4 HUGHES CITY HAIL, 221 WEST PINE STREET
WALTERKATNKH` POST OFFICE BOX 320 RONALD M. STEIN
JAMES W: PikkERTOK Ir.Cky Attorney
IODI. CALIFORNIA 95241
(209) 3345634
. F
December 23, 1981
Tim Hackman
Blewett, Garretson & xachman__.
141 E. Acacia
Stockton, CA
Rei Turner Road and C1uff Avenue Assessment District No. 1
Dear -Mr-. Hachman.
Enclosed please find the following items pertaining to the
aforementioned subject:
1. a certified copy of Resont€on . 8i-174, "`A Resolu-
tion Determining Unpaid Assessments and Providing
for Issuance of Bonds" .
2.. one copy;of "List of Unpaid Assessments"
3. Waivers of Cash Payment Period or Agreement to
Pay Assessments Prior to Expiration of Cash Payment
Period and Directing Issuance of Assessment Bonds on
Unpaid Assessments
If you have any questions regarding this matter, please call
this office.
Very truly yours,
Ux[a*t/ � .
40 Alice M. Re the
City Clerk
AR:dg
Enc.
f RESOLUTION NO. 81'-74
BEFORE THE CITY COUNCIL OF THE CITY OF
LODI. CALIFORNIA
TURNER ROAD AND CLUFF AVENUE ASSESSMENT DISTRICT NO. 1
A RESOLUTION DETERMINING UNPAID ASSESSMENTS
AND PROVIDING FOR ISSUANCE OF BONDS
RESOLVED, by the City Council of the City of Lodi, California.
that ,
WHEREAS-. said Council did on April 15, 1981, adopt its Resolution
No. 81-39. 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, and amendments thereto, and did
therein provide that serial bonds would be issued pursuant to the
provisions of the Improvement Bond Act of 1915, as amended, 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 dull+ published
r and mailed in the manner provided by law, and the time so provided for
receiving the payment of assessments in cash has been waived by all
owners of property assessed in said district, and the Director of Finance-
-.As
inance-. As signed and filed in his office a list of all: assessments which now
-%:�ain unpaid; and
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 bearing 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 Superintendent of. Street s.., (Director
of Public Works) of said City after confirmation by said. Council,...the
several lots or parcels of lard 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 $1,598,000:00 and bonds
shall.'.1a .issued .upon the security of said unpaid assessments in,-said
amount in accordance with the provisions of the improvement: Bond Act
-of. 1915, and under and pursuant to the provisions of said Resolution
81-174
-1-
No. 81-39 and the proceedings thereunder duly had and taken; that said
-bonds shall be 318 in number, shall be dated December 23, 1981, and the
denomination of said bonds with their respective numbers, interest rate
and dates of maturity are as shown in Exhibit B hereto attached and made
a part hereof by reference.
4. Said bonds shall be issued in series, and the unpaid assess-
ments 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 constitute a trust fund for the redemption and payment.
of said bonds and of the interest ;vhick may be due thereon, which
unpaid assessments shall be payable in annual series corresponding in
number to the number of series of bands 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 zese-rve
fund as --additional security for the payment of the bonds as provided in
Part 16 of the Improvement Bond Act of 1915 in the amounts and in
accordance with the terms of the offer to purchase said bonds dated
November 17, 1981.by Wulff, Hansen & Co., the purchaser of said bonds.
6. Said bonds shall be signed by the Clerk and Director of
Finance of the City or bear the engraved, printed or lithographed
signature_of the Director of Finance and the official seal of said.City
may be affixed to the bonds by printed, lithographed or other repro-
duction thereof. The interest coupons affixed thereto shall be signed
by said Director of Finance 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 Director of Finance 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
registrable:, and subsequently de -registrable in accordance with applicable
laws of the State of California, and shall be substantially in the form
set forth in the Improvement Bond Act of 1915 and are payable at the
office of the paying agent of said City. Said Director of Finance and
City Clerk are hereby authorized and directed to sign said bonds.
81-174
-2-
-3-
LIST OF UNPAID.ASSESSMENTS
F
TURNER
ROAD'AND CLUFF AVENUE ASSESSMENT DISTRICT NO. 1
LODI, CALIFORNIA
Assessment No.
Description
Amount
i
(County Assessor's Parcel No.),
1
Parcel 1 of map filed 119181 in Bk. 9 of
Parcel Maps, page 216, San Joaquin County
Records, and also a portion of Assessor's
Parcel No. 049-020-15
$ 32,917.26
2
Parcel 2 of map filed 1/9/81 in-3k. 9 of
E.
Parcel Mpas, page 216, San Joaquin County
Records, and also Assessor's Parcel No.
049-020-18
16,550.02
3
Parcel 3 of map filed 119/81 in Bk. 9 of
Parcel Maps, page 216, San Joaquin County
Records, and also a portion of Assessor's
Parcel No. 049-020-15
287,7`44.02
4
Parcel 4 of map filed 119/81 in Bk. 9 of
Parcel Maps, page 216, San Joaquin -County.
Records, and also Assessor's Parcel No.
-T.-04-9-02-0-14
62.582--62
5
049-080-26
18,618.74
6
049-080-25
18,618:_74
7
049-080-45
165.119.78
8
049-080-44
2366 026.64
9
049-080-29
95; 032, 60.
10
049-080-30
65,202'.94`
11
049-080-41
970540.24
12
049-080-42
8611585.30
13
049-080=35 (Portion)
37,565:68
14
049-080-35 (Portion)
17,912':"64
15
049-030-02 (Portion)
1399744..66
16
049-040-35
210,038.12
-
TOTAL $1j588': 000.00
{
IBITA ':_
MW
=MATURITY SCHEDULE
:TURNER
ROAD SAND CLUFF:
ASSESSMENT DISTRICT
NO.- 1--
--
EIIESI1981�.,1 .19
INTEREST .,RATE :10%
Bona:
-';Denomination
Annual:
Maturity
'e-
$3 000.001
2
.21,5,000.00)
...:
$103,000.00
July
2-"' 1983: - -
-22
0 48
135,000.00
July
2;
1984
49
75
51-000.00
135,000.00
July
2,
1985
76
102
3;000.00
135,000.00
July
2.-
�'1986103
1986r
103
129-
51000.00
135,000.00
July
2,
1987
130
156
5,000.00
135,000.00
July
2.
1988':.'.'
-157
--183
51-000.00
13-5,000.00
July
2
184
210
5,000.00
135,000.00
July
2,
00-
211
237
51000.00
135,000.00
July
2,
1991....'_...
238
-264
5.000.00
135,000.00
July
,265--
241
51 000.00-
135,000.00
July
-:4
'M
292
318July
50 000..00
135,000.00
-1
MW
LIWbF UNPAID ASSESSMENTS
TURNER ROAD AND CLUFF.AVENUE ASSESSMENT DISTRICT NO. 1
LODI,-CALIFORNIA
WHEREAS,.an assessment and diagram was recorded in the office
of the Superintendent of Streets of the City of Lodi on November 18,
1981, for the acquisition and/or construction of the improvements
described in Resolution No.. 81-39; a Resolution of Intention'to
Acquire and/or Construct Improvements, adopted by the City Council
of said City on April 15, 1981; and
WHEREAS, notice of the recordation of said assessment -and: -of -the
time and place where and within which said assessments were to oe
paid has been duly given in the time and form provided by law, and
the time for payment of said assessments in cash has been waived by
all owners of property assessed in said district;
NOW, THEREFORE, I. 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 withthe respectiveassessmentand diagram. 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
$1,588,000.00.
IN WITNESS WHEREOF, I have hereunto set my hand this 11th day
of December, 1981.
, Dirtdtor o
Finance, City of Lodi.
LIST.OF UNPAID ASSESSMENTS
' -TURNER
ROAD AND CLUFF AVENUE ASSESSMENT DISTRICT NO. 1
LODI. CALIFORNIA
-Assessment No.
Description
Amount
(County Assessor's Parcel No.)
1
Parcel 1 of map -filed 1/9/81 in Bk. 9 of
Parcel Maps, page.216. San Joaquin County
Records, and also -a portion of Assessor's
Parcel No. 049-020-15
$ 32,917.26
2
Parcel 2 of map filed 1/9/81 in Bk. 9 of
Parcel Mpas, page 216, San Joaquin County
Records, and also, As=sessor's Parcel No.
049-020-18
16,550.02
3
Parcel 3 of map filed 1/9/81 in Bk, 9 of
Parcel Maps, page 216. San Joaquin County
Records, and also a portion of Assessor's
Parcel No. 449-020-15
287,744.02
4
Parcel 4 of map filed 1/9/81 in Bk. 9 of
Parcel Maps. page 216, San Joaquin County
Records, and also Assessor's Parcel No.
049-020-14
62, 582.62
5
049-080-26-
18, 618.74
6
049-080-25
18,618.74
7
049-080-45
165,319.78
8
049-080-44
236,026.64
9
049-080-29
95,032.60
10
049-080-30
65,.202.94
11
049-080-41
97,540.24
12
049-080-42
86,585.30
13
049-080-35 (Portion)
37,565.68
14
049-080-35 (Portion)
17,912.64
15
049-030-02 (Portion)
139,744.66
16
049-040-35
210,038.12
TOTAL $1,588,000.00