HomeMy WebLinkAboutResolutions - No. 02-16-1920ctPrOv'idi :!�; for the Issuance Of Izlrrovejaer,.t nds '0 .aeprese:2t
and be 6eL; 1red by :+:jaa for t:iG' cost :)f tl., ryorIt and Lz-
M
ii. £.Yiu F.Lpon 'WA-1::L;Tai:Lul.+� .�.: i._:.-? v..ty o .LOM, and to
yrGvidt� for th-? sale t..'?;'eof.
HE I1 I-ZSO.L,V ED , by tl � ....,cl'_ d of Trustees of ti1e C:i ty Of Lodi .
14; l.5; 21; 22; 28; 29; 30; 31; 36; 37; 46;
47; 48; 49; 50; 51; 73, 74;
- 75; 87; 120; 121; 122; 123; 124; 125; 132;
133; 134; 135; 136; 137; 13R
138; 139; 203; 204; 205; 220; 221; 8nd 236
have been paid.
And 1111.e Board hereby fi ds and determines that the unpaid assess-
ments made pursuant to the proceedin;s ta:ce-,i under said 2esolutior. c -
L
Intention B'o. 24 and the aggregate amount
of the sane a. -re as folloc:s:- -
O METER ASS, SS i'.:7T iiULT 71
x; U' � i
d:'0 :L
Unknown 13
297.20
/f 23
278;50
It
80
197.08
IT 81
525.55
if 97
384.21
it 112
3.33
" 113
19.99
tt 142
277.86
143
52.26-
552.26-
115 6
156
558.86
}� 159
558.86
" 161
2160.81
162
264.21
" 163
262.74
IT 187
211.50.
IT 213
211.50
IT 217
253.80
" 218
253.80
I1 231
211.50
IT 233
211.50
T. e Board .further finds and determines that the aggregate amount
of said assessmentS unnaid is the sum of
7,695.06
Upon aoO:.iu.: Of Trustee Eale, seconded
by Tru6tae :Zore'iiezd, '."'a
Resolution. 7o. SS ;vas adopted by
t,.a_fu ia�izi vote:
11 -die, ..:r'ire:i?ad, C'rose,
alid 31a.' ]C. _..
tPrOv'idi :!�; for the Issuance Of Izlrrovejaer,.t nds '0 .aeprese:2t
and be 6eL; 1red by :+:jaa for t:iG' cost :)f tl., ryorIt and Lz-
M
ii. £.Yiu F.Lpon 'WA-1::L;Tai:Lul.+� .�.: i._:.-? v..ty o .LOM, and to
yrGvidt� for th-? sale t..'?;'eof.
HE I1 I-ZSO.L,V ED , by tl � ....,cl'_ d of Trustees of ti1e C:i ty Of Lodi .
u�VAS, this Board of Trustees by its 3esolution of Intention
o. 24 providing for the Improvement of 71alnut Street from the cast
Line of Hutchins Street to the ;:est line of lee Avenue, and from the
.Nast line of Lee Avenue to the :'est line of Sracrcmento Street, and
from the cast line of Sacramento Street to a line 247.5 feet cast of
and par, lle1 to the Wiest bine of Sacramento Street; snd from a line
234.5 feet lest of and parallel to the past Zine of Main Street to
the Cit;Jj Limits on the ::ast, 'oeingthe >est line of Cherokee lane,
in the Cit7y of Lodi, determined that serial bonds to represent
unpaid assessments e-nd to bear interest at the rate of seven per cent
;.er annum, ;could be issued there under in the pauper provided by the
"Improvement Bond Act of 1915" and amendments thereto, and that the
last installment of *hich. bonds should mature nine (9) years from the
End da;• of July nest succeeding nine months from their date, and
WE-RSAS, the :-cork to be done under said resolution of Intention
To. 24 has been completed to the satisfaction of the Superintendent
of Streets, snd of the Board of Trustees; and the Superintendent of
Streets on the 9th day of-'ebruar7, 1920 filed with the Clerk of
the Board of Trustees a complete list of all unpaid assessments made
under said proceedinCs, and
__:iS, this 3oard of Trustees has this day found and determined
that the aggregate amount of the unpaid assessments is the sum of
:; 7,695.Oo
3 IT 2.2SOLMD, as follows:
Street Improvement bonds to be issued pursuant to the provisions
oft the "Improvement Bond Act of 1915" and amendments thereto, evidenc-
ing the aforesaid indebtedness, shall be issued to the ag,;regate
MMO'Unt of ? 7,695.00 and the nu,:,ber, denomination and craracter
of such bonds shall be as follons:
Said bonds shall be dated the 16th deq of Februaxy, 1920 and
shall be of the character known as serials. One tenth,part of the
total amount of the bonds evidencing said indebtedness shall be
pv7-able on the 2nd da;; 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 ani including the 2nd deW of July 1930.
Said total indebtedness shall be ovidoncei by ten (10) bonds of
the denomination of five hundred- (500) dollars each; ten (10) bonds
of the denomination of two hundred (200) dollars each; and ten (10)
bonds
of the deao=inaclan of sixty-nine
and 50/3.00
(69.50) dollars
sash.
One (1) of said bonds
of the denomination of fi-e hundred
(5:a0)
dollars each; one (1) of
said ban3s of
the denomination of tato
r:; ::red
(200) d.a11.=r3 each.- and one (1) of :aid
bonds of the donon-
i :,_tion o: sixty-nine and 50100
(69.5C) dollars
each shall mature
and be
payable on the 2nd day
of. July, 1921,
and one (1) of said
bonds
of a lime denomination shall nature and
be payable on the 2nd s
day of
July of each and every
year thereafter
to and including the
2nd day of Jul;7, 1930.
Said bonds shall be ziumbered i to 30,
both inclusive, as follows:
' SM- 133. Bora 9M= - S.
DZ,.TOiTjY:irTIONS.
D:.TI:,S 0,7 ItATURITIES.
H-1
1
y500.00
July 2nd, 1921
U-1
2
200.00
July 2nd, 1921
E-1
3
69.50
July 2nd, 1921
H-2
4
500.00
July 2nd, 1922
H-2
5
200.00
duly tad, 1922
-2
6
69.50
July 2nd, 1922
11-3
7
500.00
July 2nd, 1923
E-3
8
200.00
July 2nd, 1923
E-3
9
68.50
July 2nd, 1923
E-4
10
500.00
July 2nd, 1924
H-4
11
200.00
July 2nd, 1924
IT 4
12
69.50
July 2nd„1924
E-5
13
500.00
July 2nd, 1925
H-5
14
200.00
July 2nd, 1925
H-5
15
69.50
July 2nd 1925
H-6
15
500.00
July 2nd, 1926
H-6
17
200.00
July 2nd, 1926
H-6
18
69.50.
July 2nd, 1926
H-7
19
500.00
July 2nd, 1927
-7
20
200.00
July 2nd, 1927
H-7
21
69.50
July 2nd, 1927
11-8
22
500.00
July 2nd, 1928
H-8
23
200.00
July 2nd, 1928
11-8
24
69.50
July 2nd, 1928
H-9
25
500.00
July 2nd, 1929
H-9
26
200.00
July 2nd, 1929
H-9
27
69.50
July 2nd, 1929
E-10
28
500.00
July 2nd, 1930
H-20
29
200.00
July 2nd, 1930
E-10
30
69.50
July 2nd, 1930
CITY O: --ODI ,
ST& - OI' CAZI; p�LZIIA.
r--
` Sc:P•I�57.
i
Under and by virtue of the act of the legislature of the State
of California, entitled "An act to provide for the issuance of im-
provement bonds to re -Present and be secured by certain assessments
made for the cost of certain work and i:aprovements Mde in and upon
streets, avenues, lanes, alleys, courts, pla.-es and sidewalks within
municipalities and upon property,; and rights of T7ay o:med by municip-
alities, to provide for the collection of such assessments, the sale
of the property affected thereby and for the payment of the bonds so
issued", approved June 11th, 1915, and amendments thereto, the City
of Lodi (a municipal corporation) grill on the second day of July 19 ,
out of the redemption fund for the pE�yment of the bonds issued upon
the assessments made for tie ^;ork upon_ and improvements on 1.7alnut
Street from the East Mine of Hrutchins Street to the ?est line of
Lee Avenue, and from the last Line of Teo Avenue to the 'Iest Line of
Sacramento Street, and from t"ie past Line of Sacramento Street to a
line 247.5 feet Fact of and parallel to the :rest Line of Sacramento
Street; and from a line 234.5 feet .gest of and parallel to the mast
Line of Pain Street to the City Limits on the East, being the ;lest
Line of Cherokee Lane, in said City, as more fully described in
Resolution of Intention :io. 24 passed by the Board of Trustees of said
municipality on the 21st cl ; of JulJ,, 1919, paZ to bearer the sum of
dollars (.: ) with interest
thereon from the 9th day of February, 1920. at the rate of seven (7 )
per cent per annum, all as is hereinafter specified, and at the office
i
of the treasurer of said Municipality.
This bond is one of several sn^ual s ries of bonds of like date,
tenor and effect, but differing I-- azziounts and maturities, issued by
said municipalit;,- ander said act for tI_e purpose of providing means
for paying for the work and improvements described in said resolution
of Intention, and is Seca -zed bj the moneys in said redemption fund
and by the unpa.i jassessments made for the pe„ went of said wofk, and,
including principal and interest, is payable exclusively out of said
fund .
The interest is pg7able semi-annually, to -crit: On the second
days of January and July in a a.c 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 twill continue to bear interest after maturity at the
rate above[stated; provided, it is presented at maturi't'y and payment
thereof is refused upon the sole ground that there is not sufficient
moneys in said redemption fund -with r&ieh to psy same. If it is not
presented at maturity interest thereon rill run until maturity.
This bond mrj be redeemed and paid in advance of maturity upon
the second dr; of July in any year by giving the notice provided in
said act.
IN �I TITESS , �22EOF, said City of Lodi has caused t^is bond to
be signed by the Treasurer of said City of Lodi and by its Clerk,
and has caused its Clerk to affix thereto its corporate seal all on
the 15th dad- of February, 1920.
Treasurer
Clerk
Said bonds shall bear interest at the rate of seven per cent
per annum, pegable on thejsecond d& s of January and July of each year,
commencing January 2nd, 1921.
-4-
mere shall be attached to each bond as 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 sig months interest on the
r -
bond to vfhich it is attached, exce?t that the coupon representing the
'- interest due January 2nd, 1921, shall be for such an amount as may
represent the interest on each of said bonds respectively from the 9th
day of February, 1920 to the 2nd day of January 1921.
r Said coupons s::all be numbered consecutively according to the
order of their pa;jmen.t, and small be substantially in the following
form, to-srit:-
Coupon IIo. Bond No.
Im-movement Bond- Cit;; of Lodi.
On the 2nd day of , A. D. 19 , the City of Lodi will
paq to the bearer hereof, at the office of the City Treasurer in said
City, County of San Joaquin, State of California, the son of
said sun being the interest clue on that date upon the abovenunbered
Improvement bond.
Series Uo.
City treasurer.
The City Treasurer and City Cleric are hereby authorized and
directed to sign each and every one of said bonds, and the City Clerk
is authorized and directed to affix thereto the corporate seal of the
City, and the Citi 'Treasurer is hereby authorized and directed to sign
each and ever-, one of the coupons attached to said bonds, provided
however, that the City Treaswrer in sir�irg said coupons tray use and
adopt his printed or lithographed signature, in place of his signature
by hand.
F_ Said bonds shall be issued in annual series, and the unpaid
Lassessments as shown on said list filed by the Superintendent of Streets
and determined by said Board of Trustees together Frith interest- thereon
9
shall remain and constitute a trust fund for the redemption a.d pja7ment
of said bonds and of the interect :7hich maq be due thereon, vraich
unpaid assessments shall be payable in annual series corresponding in
-5-
number to the number of series of bonds issued, and an even annual
proportion of each assessment shall be payable in each year preceding
the date of maturity for each- of the several series o: bonds issuer,
and such proportion of each assessment coming due in any year together
with the annual interest thereon, shall be payable in installments as
the general municipal taxes of said City of Lodi on real property are
payable and shall become delinquent at the same times and in the sane
proportionate amounts and bear the same proportionate penalties and
Interest for delinquency.
Sealed proposals for the purchase of said improvement bonds will
be received by said Clerk up to the hour of eight o'clock 2. U. on
Monday the 15th day of March, 1920. Bids Faust be for not less than
par value of the bonds and accrued interest. The right is reserved to
reject any and all bids. If a satisfactory bid be received, the
successful bidder may be allowed ten dais for examination of the
proceedings authorising the issue of said bonds, and may make his bid
subject to the legality of said proceedings. Bids mutt be accompanied
by certified check or cashier's cheek on some responsible bank in the
sum of ten per cent of the par value of the amount of bonds bid for,
such check to be made payable to B. S. Clark, City Clerk.
The City Clerk is hereby directed to advertise for bids for such
bonds as herein provided by publishing notice inviting bids, once a
week for two weeks in the Lodi Sentinel. Said notice shall be in
substantially the following form:
Sealed bids for the purchase of street improvement bonds of the
Cit,; of Lodi, in the County of San Joaquin, State of California, will
be received bf the undersigned City Clerk of said City of LOU, up
to eight o'clock 2. 11., Monde the 15th day of March. 1920. Such
bids shall be addressed to the undersigned <nd must be for not less
then ,:tar, value of the bonds bid for, with accrued interest to date
of deliver;;. The right is reserved to reject any or all bids. The
successful bidder will be allowed ten days for examination of the
proceedings, and bids may be made subject to the legality of the
proceedings. Each fid must be accompanied by a certified check or
Q�
2 -Z: -
cas'hier's check upon come responsible bank in a sum equal to ten per
cent of tile pc= value of beads iii for. uch cheeks shall be rade
p;Yable to the undersi -e .
paid issue of bonds aggregate the total sum of ;57,695.00, bearing
interest at the rate of seven per cent per annum, payable semi-annually
on the 2nd day of January and July of each year. Said bonds are of
the folio:ring denominations:
Ten (10) bonds of the d:,nomination of five hundred (500) dollars
each; ten (10) bonds of the denomination of two hundred (200) dollars
--:ach; and ten (10) bonds of the denomination of sixty-nine and 50100
(69.50) dollars each and are dated'February 16th, 1920.
Said bonds are of the character knovm as sarials, 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 two hundred (200) dollars each; and
one (1) of said bonds of tho par value of 9i:zt7-nine and 50%100 (69.50)
dollars each is payable annually from July 2nd, 1921, to July 2nd, 1930,
both inclusive, and are issued pursuant to the provisions of the
x
r '
" Improvement Bond Act of 1915 ", and Amendments thereto, and pursuant
to proceedings taken by the Board of Trustees of the City of iodi, under
Resolution of Intention To. 24.
Vi :jr Clark.
:z7 -Zar o. LS:- .T:iJ...ru 0: -Trusteed.
Date", Feoruary 16, 1920_
Mao rasulutlor: i7"ca.s 0y the follo rlr:; vote:
.�:ye3: Trustees Or03e, :.:ore: ea.1, 'f:ontLomery, , ,.al' arld
1i0aS: -;GLa.
1 OJ elitr: i�oiia.
n nn { iiLSOL T1,0ii i. `J. 91.
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—3
t Ci
Tr :ZZ= i:) Lv111 '{
T W 7YnL lv ZiT a:.il"_'I1J.r.
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eat ,'c.:art:3 ,i0c1�JrL w1tr. t4L 141;-:a3 of ....SjJI.i::o streets a:d prop—
.._ ..L_1 -J, and
..ha st_'ets :i i.'J :'(._ l._ Sail .:al.rJ 0. �..t :1 ..1.�Ci _-_.. .. =La.n
Irl -:e :: u^Cve namad�"an or plats __[•. `T' been reCOZL,.snde�d iOr
31ty fi.jl.i' fir, J! it