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HomeMy WebLinkAboutResolutions - No. 01-19-1920bProvil'in; for the IooLianca of 121'G'v3 ec_ o:di� to Repre- ''!1:t aZ- -? 9eCUI'i'. 0.7 s.SSe33 e tS ..ade for tii�, Cost ^,f the 7i02--'-" ery IZ�provelc.ent9 1 -lade it Street iit!-LeCit Of Lodi, ana to Proviae for tte sale T%�rec,'. B.:, IT RZZOL`EZ, by Bo ;d of Trust-3es of City of Lodi, as fol1-01.-,o: ,a1.2I3 AS, this Board of Trustees by its 'Resolution of Intention _`To. 25 providing for the Improvement of Oak Street from a line 165 feet Rest of the test line of :Jain Street to the ';:est line of v:_arcZs= Lane, it bein- the City Limits on tl_e east, in the City Of Lodi, determined that serial bonds to represent unpaid assessments and to bear interest at t e rate of seven per cent *ger annum, :mould be issued t,oreunder in Cie manner provided by the "Improvement Bond Act of 1915" and amendcients thereto, and that the last installment of which bonds should mature nine (9 ) years from the 2nd dcq of July r_e:'t succeedin- nine months from their date, Ana E2LAS, the wor _ to be done under said 2esoluticn of Intention Yo. 25 has been completed to t_.e satisfaction of the Superintendent of Streets, e -id of tie Board of Trustees; ana the Surerintendent of Streets on the 30th dam- of December, 1919 filed 7ith the Clerk of the Board of Trustee;, a complete list of all unpaid assessments :wade under said proceedings, and :.Ll this Board of Trustees has this del found and determined that the aggregate amount of the unpaid assessments is the sum of 6,736.42 iC7,', i�_ _".�i::: , n IT '.:.'SGLV7.D, as follows: - Street Improvem-jnt bonds to be issued pursuant to the provisions of t're "Iapro•.a gent Bor_d _et of 1915" and amendments thereto, evidencing the aforesaid indebtedness, shall be issued to the ag^regate amount of X 6,726.40 and. t o number, denomination and character of ouch bonds I shell be as foil-;za: Said bonds shall be dated the 19th day of January, 1920 and shall be of e chazacte:�•�O:'� as serials. Ono tenth -hart of t.'^n 1et9i amount of the bolds evidencinv s>:.id inde11toin-ass cna'1 be payable on the 2=d day of Jul;; 1951, and one-tenth pest of said total indebtedness shall be per, able on the 2nd day of Jul„-= of each t—an-1 evOr,; ear thereafter to and ircludii.0 t_.e 2_id d- o3 lu 1930. 3a?i tatsl indebtedness shall be evidenced by ten (10) bonds of the - denomination of five hundred (500) dollars each; ten (10) bonds of the denomination of One hundre3 (100) dollars each; and ten (10) bonds of the dsnomination of seventy -t -mee :mid 64/100 (73.64) dollars each. one (1) of said bonds of the 3enomin_3tion of fiv, hundred (500) dollars each; one of said bonds of the denomination of one hundred (10) dollars each; an•3 one of aa.i3 bonds of the denomination of " 9c:vart7-three and 64/100 (73.64) collars each shall rature and be payable on tho 213 day of July, 1321, and one (1) of said 'ponds of a like denom=- ination shall maturo ant be payable on. the 2nd day of July of each an every 'ear thereafter, to and incltdin8 the 2n3 day of July, 1930. Said bonds shall be numbered 1 to 30, both inclusive, as follows:- SEIRI':;s. BOZID XI MFI RS. DBITOMUATI03iS. DATES OF U'ATU?IMS. G-1 1 500.00 July 2nd, 1921 G-1 2 100.00 July 2nd, 1921 G-1 3 73.54 July 2nd, 1921' G-2 4 500.00 July 2nd, 1922 G-,2 5 100.00 Ju3y 2nd, 1922 G-2 6 73.64 July 2nd, 1922 G-3 7 500.00 July 2nd, 1923 G-3 8 100.00 July 2nd, 1923 G-3 9 73.64 July 2nd, 1923- G-4 1 50C.00 July 2nd, 192A G-. 11 100.00 July 2nd, 1924 G-4 12 73.64 July 2nd, 1924 G-5 13 500.00 July 2nd, 1925 G-5 It 100.00 July 2nd, 1925 G-5 15 73.64 July 2nd, 1925 u-6 16 500.00 July 2nd, 1926 0-6 17 100.00 July End, 1926 G-6 18 73.64 July 2nd, 1926 G-7 19 500.00 July 2nd, 1927 x-7 20 1VI0.00 July 2nd, 1987 G-7 21 73.64 July 2nd. 1927 G-8 22 500.00 July 2nd, 1928 G-8 23 100.00 Ju3y 2nd, 1928 4-8 24 73.64 July 2nd, 1928 i G-9 25 5"1.00 July. 2nd, 1929 G-9 2v 100.00 July 2nd, 1929 G-9 27 73.64. July.2nd, 1929 G-10 28 500.00 July 2nd, 1930 G-10 29 10.00 July 2nd, 1930 G-10 30 73.64 July 2nd, 1930 Said bonds soil be in substnntiel y the f0110win fc". to-- it: CITY 13-2 STATE 02 C.iZI� 0 S� I✓y :: 0. Lader 5"d by viTtc.e '61-40 act of the legislature of the State ' of California, entitled 7'.1a act to .rovide for the issuance of im- provomcnt bonds to represent am, be secured by certain asseszments made for the cost of certain :oak and improvement= r:iade in and upon streets, avenues, lanes, r11e; s, Courts, places a—•' Silo %'alks :rithin municipalities and upon nropertJ snl rights of o,med by municip- alities, to provide nor the collection of such assessments, the sale of the property affcoted thereby aa3 for the payment of the bonds so issued", approvel June lith, 1915, —.1 amendments thereto, the City of 7oli (amunicipal corporatio^'r.:i'_l on tae seccad day of Ja1; 19 , out Of the :-odomntio . find for t.:.c : a, at of the bor.3s issued upon the assessments mLl.3e for the :pork a on a. -id improvements cr Oak Street from a lire 165 feet „eet of the ::e'_t line of Yarn s=treet to t o 17est line of Cheroree Lane, it being; the City Limlltc on the Za,.st, is said Ci ,; , rx more fr•.11y described in resolution of Intention .49. 25 passed b:, tae Board cf Irn:tees of s._: on the 28th aey of July, 1914, :0!Qr to bearer the sum of dollars `::itil ir_terest thereon from the 30th day of December, 191'x, at the rate of seven (7) her cent per s==, all as is he_ainafter '-:aCifiod, end at the office of ,he trenea=er Of sai:l manlcinali-w. ti T'Us bond 4.9 one of several ,, i ual series, of bonds- of like date, tenor and effect, but dif_erin In mowntJ ancl m tilrl'•:iee, Issued by L. said ;ztnicipali"z ander said act f 0- the parpcse of :providing mesas fOr y"i: AL1` :"t?e `''ter" £' d i ''_': r �t72::' fie^C= i ©d I1 F� 3i' Z�solution cd- Intention, and is secured by t: -4e moneys In said- redemption fond and by the unpaid assessments made for the payment, of said work, and, -4- 2 Ol'_ inoir-aing 2=Inc ipal rnmd znt�iT,�:st, ozcla=iVsI;r out 0_' raid 1'1711 The iaterest is payable semi-umnual.ly, to -wit: On the sacond days of January and july in each year hereafter, anon presentation of tile proper coapo__s tharefor; provided, that the first of zald coupons is for tho interest to the second d; of Jenaw: , 1921, rma* V:ereafter the iutsrcet coy . ara f__ the se;ai-anneal 111. ere St. iliia bond "'I con'ina8 to bear interest Lifter (.^.L:i. aT:. f",j the rata wilcve statad; provided, it is ,resentcd at 2starIt` i.l nri'^lent J tii`::aof is refuted anon tho colo round that 'thers iS. .%Ot oIfficient moneys in ca.id redemption fund 5.itr_ rich to piq asme. if it is not prese ntr;d at -rata it;; iLteres: th,,_jo.i will ran until n atarit This ban ,i tntq be radeemel ._eA '"_sii3 .- txc^I7ozics Df rgt z'rity upon the cecond dna c Jove.;; in any -oax a;; givi::g "'he noti:,, ;:rovided in said act. 1.i. iH.:r.=,_ _, 5811 Ci„.r of Lc !I Iiae C:'-G.:aP,li f.-. OCY!d t0 be .^-ice _ed b, t -C 1'reazurer 3i cal1 :'i`•..17 of Lodi -,.nl b; its Clergy', and, has esused its Cierk to affix tho eto its corporate seal. ,711 on the 19th ds;• o= Ja1a2r-, 192-0• Treasurer Cie -74 Said gond.-4 :3h--11 bear l tui=c, - at the rr3�c of 837_ a H: cent - er a;nas, j,�,a" :e c_ .::6 se and �:.�'8 -- nnnuery ani Jul;/ o7: r-ach ' :3 - 7 C'J'cm-OnaJ=Lla=J 2nd, 1921• _:)ere 3! cl l be at-tached to a 9r: bon(i =7, `nte_get coal on for enc sczi-nnr_ual 2rymo nt of, lnteTet:'_ �nV rind earl- coupon .9hall be in such: an r=ouat, as to _ ;)rczent sir :nte_ st ,1 the bond to iC it Is ,-t+'3Che.'.'., - t:G ocupon T 'f'�eriti^� the -5- interest dae Janu-arj 2nd, 1921,hr..Zl 'oe for such an account as may represent t.' -,e interest on each of said bonds res:ecti7ely from the 30th day of December, 1919 to the 2nd dc„ cf Januarj 1921. Said coupons shall be nurfoered coil ;ecutively according to the order of their payment, and shall be substantially in the following form, to-v7it :- Coupon No. Bond 111.7. i Improvement Bona— City of nodi. On the 2nd day of A. '). 19 , he City of LU -1i r7111 pay to the bearer hereof, at tie of_ice of the Cit„, Treasurer in said City, County of a» Joaquin, State of C:•,lifornia., the sum of said s�z�: being the interest dce on t,aat date upon tae above nrimbered improvement bond. Series No. City Treasurer. The City Treasurer and Cit;;; Mori. are hereby authorized and directed to sign each and ever, one €rte said bond:, and the Cit— Clerk -is authorized and directel to affix ti:oreto the corporate seal of the City, and the City Treasurer is her_z-by authorized P_ni directed to sign each and every one of the coupons attanhe:l to said bonds, provided however, t'.at the City 'treasurer in coupons tray use and adopt his printed or lithographed eiR.ature, in place of his signature by hand. Said bonds shall be issued in anjaaa.1 series, and t e unpaid assessments as s'r_o -- on said list filed by the Superintendent of, Streets and determined by said Board of T`r;;:tees together -rith inferest thereon, Ishall remain and constitute a trust :uvvi for the retie pticti' a -d payment of said bonds and of the interest ac.ic h may be due thereon, which. un— paid assessments s oll be paJable i_c «rte :a1 series corresponding in number to ti_e number of series of b^nde issued, and ::n even annual pro- -6— portion of each: assessment shall be payable in each year preceding the date of iue,=it,; for each of the several series of bonds issued, and such proportion of each as.essme..t coning due in any ea.r together with t':e arnael interest thereon, shall be payable in installments as the generai municipal taxes of said City of Led! on real property are pay- able and shall become delinquent at the same times and in the sage pro- s portionat:e amounts t nd bear the sane proportionate penalties and interest for delinquency. Sealed proposals for the purchaze cf said improvement bonds will be received by said Clerk up to tL6 horr of eight o'clock P. Y., on Monday the 16j;h devv of -ebruari , iS?.C. Bids must be for not less than par value of the bonds and accrtL:e_ interest. The right is reserved to reject any and all bids. If a. satisfactory bid be received, the successful bidder may be allov,ei ten clays for examination of the proceedings authorizing the issue of said bonds, and may mase his bid subject to Vne legality of said proceedings. Bids must be accompanied ; by certified cheek or cashier': check ::n some responsible bank in the sum of ton per cant of the par .glue of the mount of bonds bid for, such check to be made payable tc I.E. 8. Clark, City Clerk. Tho Oity Clerk is herety Lirected to advertise for bids for each bonds as herein provided by publ isi_ing notice inviting bids, once a week for two weeks in the Lodi Zentinel. Said notice shall be In substantial -L7 the iolloai., r"or .. .paled bids for t- e --aro--ase of street lm_-,rovement bonds of the City of Jodi, in the County of `man Joaquin, State of California, will be received by the urdersig^e3 ryity Clary of said Cite cf Lodi, up to eigat o'clock 2. U., Uonda:r the lGth day of Febrka_-V, 1920. Such bids shall be addressed to the rr ersi:�ed and must be for not less than par value of the bonds bid for, with accrued interest to date i of delivery. The right is reserve= to reject ezny or all bids. The successful bidder vrill be all.vnad ton dajs for ez�nination of the proceedings, and bids ma✓ be ^rale subject to the legality of the pro- -7- G06-'._;_ G .[imuct -e act,!cm.a"._.e' �•? n c :.-ti-fs Cyec-: OT C. u. _._ CO -IS reZ. onsir:_a bani= _r - So.m e _M1 to ten .Or ceTj Ci f 'C . .u" .^i !1�? '_� r'OS1C.E t7 i"�. .'J= • 1.: h CZ BCS i s!'_?�l bemade_..Y . a Said issue of bonds a6gregate the total sum of $' 5,736.40, bearing interest at the rate of seven per cent per annvm, payable semi-annually on the 2nd day of January and July of each year. Said bonds are of the following denominations: Ten (10) bonds of the denomination of fiva hundred (500) dollars each; ten (10) bonds of the denomination of one hundred (100) dollars each; and ten (10) bonds of the denomination of seventy-three and 64/100 (73.64) dollars each and are dated Janizary 19th, 1920. Said bonds are of the character known as serials, and one (1) of said bonds of the par value of five hundred (500) dollars each; one (1) of said bonds of the par value of one hundred (100) dollars each; and one (1) of said bonds of the par value of seventy-three and 64/100 (73.64) dollars each is payable annually from July 2nd, 1921, to July 2nd, 1930, both inclusive, and are issued pursuant to the provisions of the " Improvement Bond get of 1915 ", and Amendments thereto, and pursuant to aroceedings taken by the 3card of Trustees of the City of Lodi under Resolution of Intention ':o. 25. vot,2. rated Tan ar- 9ti:, 1920. Th: fDre oin6 Resolution _io. 82 .ras adopted by the _follor,ino nj'-'S; TrUate33 ..�.ontg mer; , l..^.,.le, yrose, arra! 31acl_ ..c>..�: Mona. .4,*03'_.t. _.,,rid. .:0 iurt 8r )u3i;:836 3ri??.T1: i. ? �3^oa a a,-'Journei until th ru_C` re�_U-1 .z' -' t 4 2-ai, _1920. utast- City Clerk r