HomeMy WebLinkAboutResolutions - No. 11-03-1919eThe Board furl_er finds and determines that' the aggreguye amount
Of said assessme is ,=Paid is a sun cf 7,999.92
The Poreooi:Z resolution No. 70 was adopted by the follow-
ing .rote.
Ayes; Trustees Crose, Montgomery and Blaoa.
noes; None.
Absent; Trustees :talc and i`orehead.
RESOLUTION NO. 71.
Providing for t e issuance of improvemnnt bonds to represent
ani be secured by assessments :made for the cost of the work and ir:-
pro vemants made in and upon LOCUST STREET, from IDAtc ino- Street to
Charokee Lar-,, in the City of Lodi, and to provide for the sale
tharaor.
BE IT RESOLVED, by tr' Board of Trustees of tar_' City or Lodi
as follows:
M=I AS, this Board of Trustees by its Resolution of Intention
To. 19 providing for the Improvement of Locust Street from the
Sast line of Suteh.L32 Street to the West line of School Street, and
from the East line of School Street to the lest line of Sacramento
Street, and from the 'ast line of Sacramento Street to the East
City Limits, being the :lest line of Cherokee Lane in the City of
Lodi, determined that serial bonds to represent unpaid assessments
and to hear interest at the rate of seven per cent per annum,
1 would be issued thereunder in the manner provided by the "Improvement
Bond Act of 1915" and amendments thereto, and that the last install-
ment of which bonds should mature nine (9) years from the 2nd de;,
of duly next succeeding nine months from their date, and
T y�AS, the :cork to be done under said Resolution of Intention
No. 19 has been completed to the satisfaction of the Superintendent
of Streets, and of the Board of Trustees; and the Superintendent
of Streets on the 20th day of October, 1919 filed with the Clerk of
the Board of Trustees a complete list of all unpaid assessments
made under said proceeding, and
tds Board of Trustees has this day found and deter-
mined that the agFregate amount of t_e unpaid assessments is the
sum of : 7,999.92
NOT, '1TEEPEFORE, BE 17- PESOLVE'' ;, as follows: -
Street Improvement bonds to be issued _-)uz-suant to the provisions of
the "Improvement Bond sect of 1915" and amendments thereto, evidencing
the aforesaid indebtedness, shall be issued to the aggregate amount of
$7,999.90 and the number, denomination and character of such bonds shall
be as follows:
Said bonds shall be dated the 3rd day of november, 1919 and shall be
of the character poem as serials. One tenth part of the total amount
bf the bonds evidencin- s^id indebtedness shall be payable on the 2nd
day of July 1921, and one-tenth part of said total indebtedness shall
be payable on the 2nd day of July of each and every year thereafter to
and including the 2nd day of July 1930.
Said total dndebtedness shall be evidenced by ten (10) bonds of the
denomination o3 five hundred (500) dollars each; ten (10) bonds of the
denomination of two hundred (200) dollars each; and ten (10) bonds of
the denomination of ninety nine and 99100 (99.99) dollars each. One
of said bonds of the denomination of five hundred (500) dollars each;
one of said bonds of the denomination of two hundred (200) dollars each;
and one of Laid bonds of the denomination of ninety nine and 99/100
(99.99) dollars each shall mature and be payable on the 2nd day of July
1921, and one of said bonds of a like denomination shall mature and be
payable on the 2nd day of July of each and every year thereafter to and
including the 2nd day of Jul; 1930. Said bonds shall be numbered 1 to
30, both inclusive, as follows. -
BOND EMB IEU, D iiOlilii_.TIOI3. DAMES OF ILMI MIM3
D-1 1 0500.00 July 2, 1921
D-1 2 200.00 July 2, 1921
D-1 3 99.99 July 2, 1921
D-2 500.00 July 2, 1922
Dw_2 5 200.00 July 2, 1922
D-2 6 99.99 July 2, 1922
D-3 7 500.00. July 2, 1923
D-3 8 200.00 July 2, 1923
D93 9 99.99 July 2, 1923
D-4 10 500.00 July 2, 1924
D-4 Il 200.00 July 2, 1924
D-4 12 99.99 July 2, 1924
D-5 13 500.00 July 2, 1925
D-5 14 200.00 July 2, 1925
D-5 15 99.99 July 2, 1925
D-6 16 500.00 July 2, 1926
D-6 17 200.00 July 2, 1926
D-6 18 99.99 July 2, 1926
k
D-7 19 500.00 July 2, 1927 `
D-7 20 200.00 July 2, 1927
D-7 21 99,99 July 2, 1927
D-8 22 500.00 July 2, 1928
D-8 23 230.00 July 2, 1928
D-8 24 99.99 July 2, 1928
D-9 25 500.00 July 2, 1929
D-9 26 290.00 July 2, 1929
D-9 27 i, 99.99 July 2, 1929
D-10 28 '500.00 July 2, 1930
D-10 29 100.00 July 2, 1930
D-10 30 99.99 July 2, 1930
Said bonds e2i ll be in substantially the following fort to -:pit:
nT" o T rl ..
Under wn,;_ Wy Pirtxx of the act the legislature of the state
of California, ei_titled "Au act to Ovide for t :o issuance of
i-iprovement bare to re -,resent an -d c secured by certain ac'e.-amer_ts
made for the ec€t of certain Work i^drovements ode in and upon
streete, uvenee::, la es, allege, c^�i:t. , places =1 sidovrdlks ithin
municipalities a.d unon property nn-,, rights of t,^U7 o`arted by municip-
alities, to provide for the collection of skdh asses:-:aente, the sale
of the property affected therobv and f0r the payment of the bonds so
issued", approved dune 11th. 1915, ^__d amendment: thereto, the City
Of Lodi (a muaici~)al corporation) will on t'r_e second day of July
19_, o: -t of the redemption f>+nfl fav t-,, ^y sent of the .br.nls issued
upon the asaeeemnto anae for tib anon r_nc Improvements on
Zocuot street from the Last line )-" ?utchins OtrE;et to the West
line of :school -roet, a.23 from :i:� 's;ast Zine oR drool Street to
the 70,-t line of .'.acracento trc�et, , from the ?:est line of
Sacroziento Street to the 7-ast City -=mitt, beim tho :,est line of
Cherokee Lane in e .Id City, as more ful17 deccribed in .resolution
of In;,ention :':o. 19 gassed by the of Trustee; of said
municipality en .::e 24th aO y f 1919, rnh to bearer the s=
of dollars (" ) with
intercct tY_ere.o^.rrom t;:e 20th day if October , 1919, at the rote
of seven (7) ^^r cant icer rnAum, all as is :e re j -after specified,
and at the of'=ce of the trenaurer -f said municip-ality.
�-
71hia bond is one of aever�jl snrieo of sof like
date, tenor n. -.d effect, bkt ll ferias .- i, rsot is ap i mfrtnrities.
Issued b;; said muniei-)U-JI.y under sala act for the purpose of
a ..
-providing means for paying for the work and improvements described in
said Resolution of Intention, and is secured by the moneys in Baia
i redemption fund and by the unpaid assessments made for the payment
of said work, and, including principal and interest, is payable
exclusively out of said fund.
The interest is payable semi-annually, to -wit. On the second
days of January and July in each year hereafter, upon presentation
of the proper coupons therefor; provided, that the first of said
coupons is for the interest to the second day of January, 1921, and
thereafter the interest coupons are for the semi-annual interest.
This bond will continue to bear interest after maturity at the
rate -above stated; providel, it is presented at maturity and payment
thereof is refused upon the sole ground that there_ is not sufficient
moneys in said redemption fund with which to ray same. If it is
not presented at maturity interest thereon will run until maturity.
This bond may be redeemed and paid in advaneeof maturity upon
the second day. of July in any year by givirg the ,.otice provided
in said act.
Iii yZ}aLSS said City of Lodi has caused this bond to
be signed b- the Treasurer of said City of Lodi Emd 'ay its Cler:_,
and has caused its Cleric to affix, thereto its cor_iorate seal all
on the 3rdd, day of ii ovenber, 1919.
Treasurer
Clem
Said bonds shall bear interest at the rate of seven ner cent
per annum, payable on the sect _d daps of January and Jul;;- of each
year, commencing January 2nd, 1921.
There shall be attached to each bond an interest coupon for
each semi=annual payment of interest to become due thereon, and each
coupon shall be in such an amount as to represent six months interest
on the bond to which it is attached, except that the coupon represent-
ing the interest due Januar _2na, 1921, shall be for such an amount
as may represent the interest on each of said bonds respectively
from the 20th day of October, 1919 to the 2nd day of January 1921.
1
Said coupons shall be membered co=_sectrvivei according to the
order ol� their pent, and 3: -all be substas iall;; in the folloring
fora, t c -:tit
Cou-on _yo. Bond No.
Improvement Bond- City of y-odi.
On the 2nd day of , A. B. 14 , the City of Lodi rill
pay to the bearer hereof, at the office of the City Treasurer in
said City, County of Sar, Joaquiy, State of California, the sum of
, said sum being the Lterest due on thest date upon the
above numbered im)rovement bond.
Series :10.
City Treasurer.
T're City Treasurer and City Clark are hereby authorized and
directed to sign each and every one of said bonds, and the City
Cleric is authorized and directed to affix thereto the corporate
seal of the City, and the City Treasurer is hereby authorized and
directed to sign each and every ons of the coupons attached to said
bonds, provided however, that the City Treasurer in signing said
coupons may use and r.dopt his pri:ted or lithographed signature,
in place of his sip�_aature by hand.
Said bonds ehallbe issued in annual series, and the unpaid
assesements as shovin on said list filed by the Superintendent of
Streets and determined by said ?Board of Trustees together with
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 even annual-roportion of each assessment'shwll
be pwable in each year preceding t e date of maturity for each of
the several series of bonds issned, and such proportion of each ass-
essment coming due in =y year toget._er with the a-anual interest
thereon, shall be payable in installments as the general municipal
taxes of said City of Lodi on real property ase payable and
shall
become delincuent at tine same ti -nes and in the same proportionate
amounts and bear the same proportionate penalties and interest for
delinquency.
tom.
,. � - ,s, : ,.. "--i'p'S+ ,i. -- - - .. ,mss.,:. nw r .. _.. '�>-$:.:. :i `- - �_ _� .y,�:.a:moi^ _.�•.r.�s _. .-._.�:..1=..:x:.;. ,.� ..._ --c...
Sealed proposals for the purchase of said impproveme; t bonds
will be received by said Mar:: up to the hor=s of eight o'clock :. i;.
on „onciw the 24th da;, or '?o7eraber, 1919. Biis must be for of less
tLan mar vel ue Of the bonds and accrue? interest. The richt is
reserved to reject any and all bidc. If a satisfactory bid be
received, the successful bidder may be allo—n4 ten days for examina-
tion of the proeeedinys authorizing the issue of said bonds, and ray
make his bid -subject to the legality of saii proceedi ;s. Bids ;gust
be accompanied by certifier checri or cashier's check on some rssDon-
sible b=:, in tae eum, of ten ner cent of the par value of tie amount
of bonds bid for, such ohec�k to be made Dial io to Clark, City
Ciark.
The City Clerk is hereby directed to advertise for bids for such
bonds as herein provided by publishing notice inviting biis, once
a week for two creeks in the nodi Senti-nel. Said notice shall be in
substantially the following fort::
Sealed bids for the purchase of street improvement bonds of
the City of Lodi, in the County of San Joaquin, State of California,
Trill be received by t_.e undersigned City Clerk of said City of 1,Cdi,
up to eight o'clock i. *ond`n„ tie 24th dW; or -ovAn'.:er, 1919.
Such bids shall be addressed to the undersized and must be for
not less than, bar value of the bonds bid .:or, wlkth accrued interest
to date of delivery. The right is reserved to rejedt any or all
bids. The suecersful bidder rill be allowed ten days for examination
Of the proceedings, and bids m`.y be made subject to the legality of
the �roceedin�_-s. .teach bid must be accompanied by a certified chIIck or
cashier':: check upon some responsible bantam in a Sum eoual to ten Der
cent of the par value of bonds bid for. Such check~ shall be made
Payable to the undersigned.
Said issue of 'bonds ag�,'rega.te the total sum of 77,999.90
bearing interest at the rate of seven per cent per annum, sayable
semi-annually on the 2nd day of January and July of each year.
Said bonds are of the followin; denominations: ten (10) bonds of the
denomination of five hundred (500) dollars each; ten (10) bonds of the
denomination of tae h'andred (200) dollars each; and ten (10) bonds of
the denomination of ninety nine and 99100 (99.99) dollars each, and are
dated November 3rd, 1919.
said bonds are of the Character known as Serials, and one (Z)
bf said bonds of the denomination of five hundred (50c1) dollars each;
one (1) of said Bonds ol the denomination of twn hundred (200) dollars
each, F_xd one (1) o: said bonds of the denomination of Ninety nine and
99/100 (99.9)) dollars each is payable 2_nually from July 2nd, 1921, to
July 2na, 1930, both inclusive, and are issued pu_r:_uant to the provisions
i— of the "Improvement Bond Tet of 1915t1, and amendments thereto, and pur—
suant to proceedings taken by the Board of 'Trustees of the City of Lodi
under Res&lution of Intention Pio. 19.
city C er . —
By order of the Board of Trustees.
Dated ?ovember 3rd, 1919.
The roregoirg Resolution No. 71 was passed and adopted by the
following vote:
Ayes: Trustees Montgomery, Crose and Blaos.
Noes; None.
Absent: Trustees Hal -2 and Morehead.
RESOLUTION NO. 72.
Authorizing and directing delivery of bonds issued pursuar_tto
the provisions of Resolution o: Intention P:o. 18, and "The Improve—
ment Bond Act of 1915" and amendments t_ ereto , to the CITY BA.i' OF
STOCKTON, California, (assignee of Clark & Her_ery Construction. Company,
the contractor).
BE IT RESOLVED BY TEE BOARD OF TRUSTEES OF T -HE CITY OF LODI AS
FOLLOWS.
the City Clerk, pusuaat to the provisions of
eZola' !on No. adopted OctoL r 6th, 1919, esased to be daly
pnolislied a n.otics ir_viting sealed bias Tar the p a a„e of
Street Improvemant Bonds dated October 6t:, 1919, and.�aggregating
the total BUM c_ -1,230.70, and issued pnrsnsnt to the provisions
of the "Improvement Bond Act of 1915" and amendments thereto, and
pursaar..t to proceedings taken by the Board of firuste.ee of the City
of nodi ceder 3asolation of Intention iio. 18 and
said Resolution .1Io.1oJprovided that bids rould be
received b;, the City Clerk UP to the xour of eight 09610ak v. _:i. on
Monday November 3rd, 1919, and said published notice co=1.ains a