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R 50RESOLUTION NO.. ~a_ (NEVI SERIES) RESOLUTION RELATING TO TL' ISSU4ISCE OF IIu~ROV13Ls,NT BONDS aF THE CITY OF ARRUYO GRrll~TDE PURSUANT TO I'wSOLUTIOPi OF INTEATTION N0. 30 (kTEw S"~RI/S) DETER- I.4INI7\TG THE AI.TOUNT OF UNPAID iiSSESSIuT;NT3, Ys?I:SCRIBING THE D~NOPiTITdATIONS OF SUCH BORrDS, ADTD PROVIDING FOR TI~IR ISSUANCE '~~ DELIVERY. 7JT~Rii;I1S, the City Council of the City of Arroyo Grande, aid, on the 23rd day of January, 1929, pass and adopt its ;3esolution of Intention No. 30 (New aeries} relating to certain work to be done and improvement to be made in s~~id City as therein described, under and pursuant to the provisions of the "Improvement 1'~ct of 1911," as amended, and did by said Resolution of Intention provide that serial bonds to represent unpaid assessments, and bear interest eat the rate of six per cent per annum, ~.vill be issued thereunder in the manner provided by the "Improvementt Bond Act of 1915," the last installment of which bonds shall mature fourteen (14) years from the second day of Suly next succeeding ten ~izonths from their date, reference to said Resolution of Intention being; hereby expressly made fur further particulars; and WI-IEREAS, the contract for said ~~rork and improvement vras duly a~marded and thereafter duly coripleted to the satisfaction of tY~e City engineer of said City and this City Council, whereupon in due course an assessment, diagram and warrant, were n.ade, recorded and delivered to the contractor in time, form and manner as required lay larv, and the contractor having made due return thereon and the same having been duly filed; and iJ?TETtEAS, on October 17th, 129, the Street Superintendent of said City made and filed with the clerk of this City Council, a complete list of a,ll assessments unpaid thereunder upon the respective assess- ment or diagr~un nur,~bers thereon, whereupon said clerk gave notice of the filing of said list, and fixed in said notice 1Vednesday, the 30th day of October, 1929, at the hour of 7:30 o'clock P.Lf. of said day, at the regular meeting place of said City Council, as the time ~,vhen interested persons might appear before the said City Council and show /~eso•No•sd cause ~vhy bonds should not be issued upon the security o't the unpaid assessments shown on said list, as appears from affidavits on file in the office of said c1erL, said time being that of this adjourned regular meeting of said City Council; and su,id City Council having heard all objections against 1;he issuance of bonds as aforesaid gresent- ed before or at the time set i'or said hearing; and said City Council hereby passim upon and overruling and denying the same; ::and ~1A3EREWaS, since said filing by said Street Superintendent of said list of assessments unpaid, the following assessments Piave been paid to the prope_ officer. of said Gity, to tvit: Assessment and Dia~rarn Nw~ibers xu~iount of each Assessment in Dollars and Cents Ido. 108 No. 109 I?o. 110, :~ 1,095.30 323.63 301.06 aggregating the total susa of ~, 1,719.99, leaving a balance due on account of said unpaid ~{.ssessments of .ja 22,450.6b; and said list of assessments unpaid filed by said Street Superintendent, as aforesaid, appearing in all respects complete and correct a,iter excepting and deducting therefrozi tl.e assessments pe~id since the filing• thereof, as hereinabove set forth, D?O~;J '.CHERk,FOIt;~, it is hereby resolved and found and detern.ined, by said City Council, that said list of assessments unpaid filed by said Street Superintendent as aforesaid was at the time of said filing thereof in all respects coiriplete and correct, and that since tine filing thereof, assessments have been paid aggregating the sure of $v 1,719.99, as hereinabove set forth, and also that the unpaid assessments made pursuant to proceedings duhr te~ken under said liesolution~of Intention, and the aggregate amount of the same a,re as follo.~rs: Rego • No. sv aSSu'SS':L~~iTT 1~IiIJ t1lr_OUl'T GIB' E1~CH !'iBSESSi~.'i,NT ~1S~TD Ah-OUNT OF r~.AC13 DI~G;It1bT IFUT. sRS ASSLSST~r~1JT 7Ir1GPu'L,T ISUI~TtS ASSLSSLI;IST 3 ;`~" 345.37 49 ~ 322.43 5 814.74 50 424.12 6 8.20 52 1}030.24 '7 8.20 54 37.x. 26 8 8.55 57 299;.85 9 7,90 58 A 14.88 14 301.06 61 864.93 15 301.06 62 994.20 16 301,06 64 295.16 17 1,111.30 72 349.20 18 8].2.50 73 327.34 19 796.50 89 295.16 22 304.77 90 295.16 23 304,77 92 317.73 24 327.34 93 763.81 25 32'7.34 94 968.85 26 304.77 96 675.94 27 371.77 101 21.30 29 317.73 102 16.40 30 295.16 106 302.05 31 317.73 107 529.50 32 295.1G 111 323.63 35 1,087.42 112 301.06 36 298.85 113 196.10 38 828.61 ~$X,YXY7~xx xxxx x.&Ek9rx~ fu 4 4 3 6 3.0 9 $jG$;: xxzrxxx- xxxx-~Qfxx9c6} 47 299.85 114 810.15 119 23"1.70 120 237.70 land said City Council further hereby fends and deten~.ines that the total or agGregate amount of said assessments unpaid is tree sum of :~ 22,450.68. TiOiV TIWPS:,FOR in consideration of the foregoing; premises, the City Council of the City of arroyo Grande does further hereby resolve as f o 11 o b°~rs Section 1. Thc.t bonds sho,ll be issued u1;on the security of said unpaid assessments to said a:.ount of Y~ 22,,450.68 in accordknce with the k~rovisions of s_;id "Improvement :act of 1911,x' as amended, end said i17.IiprUVei::cklt Bond _lct of 1915," $s amendea,and under ar.d Uursuant t0 said hesolution of Inteiztion and resolutions, notices and y,roceedings in relation tYkereto, duly had :knd taken; skid 'o onds sha.li be called "v;.provez:ent ~onds,t' s:~kal]. be 45 in number, known as Series D and s'iall "be d^%ed the 30ti~ day of October, 1929, and beer interest at tike rate of si7 per cent per annum from the 17th day of October, 1929, said date being the date upon wlk~crk the original list of unpaid assessments vra.s filed :+iti~k the City Clerk of said City; and the character and denok:kinations of se..id bonds, with tikeir respective numbers and dates of maturity, are as follows: , ~i eso. No ~S~ SI;I2Tr;S BOl~ID :TCJD'BEiiS D~;NOIl~iIN~aTIOISu D&Zti:3 Ole A'~A1T7`_?ITY 1}l 1 :~ 1,000.00 July 2, 1931 Al 2 300.00 July 2, 1931 D1 3 196.71- July 2, 1931 n2 4 1,000..00 July 2., 1932. D2 5 300..00 July 2, 1932. D2 6 196.7.1 July 2, 1932 D3 7 1,000.00 July 2, 1933 D3 E- 300..00. July 2, 1933 D3 9 196.71 July 2, 1933 D4 10 1,000.00 July 2, 1934 D4 11 300.00 July 2, 1934 D4 1: 196.71 July 2,, 1934 D5 l~ 1,000.00 July 2, 1935 D5 l~` 300.A0 July 2, 1935 D5 lr~ 19fi.71 July 2, 1935 D6 l_c 1,000.00 July 2, 1936 D6 :L7 300.00 July 2,- 1936 D6 :I_c 196.71 July 2, 1936 D7 19 1,000.00 July 2, 1937 D7 20 300.00 July, 2, 1937 D'i 21 196.71- July 2, 1937 D8 22 1,000.00 J"uly 2, 1938 D8 23 300.00 July 2, 1938 D8 24 196.71 July 2, 1938 D9 25 1„000.00 July 2, 1939 D9 26 300.00 July 2, 1939 D9 27 196.7.1- July 2, 1939 D10 <2 1,000.00 July 2, 1940 D10 29 300.00 July 2, 1940 D10 30 196.71 July 2, 1940 D11 31 1,000.00 July 2, 1941 D11 32 300.00 July 2, 1941 D11 33 196.71 July 2, 1941 D12 34 1,000.00 July 2, 1942. D12 35 300.00 July 2, 1942 D12 36 196.71 July 2, 1942 Dl3 37 1,000.00 July 2, 1943 D13 30 300.00 July 2, 1943 D13 39 19fi.72 July 2, 1943 D14 !~0 1,000.00 July 2, 1944 D14 41 '500.00 July 2, 1944 D14 4~ 196.72 July 2, 1944 D15 43 1,000.UO July 2, 1945 D15 4~i 300.00 July 2, 1945 D15 45 196.72 July 2, 1945 ~eso•No•s~ ' Section 2. Said 'bonds snail be issues: in series, rYnu the unpaid assessllents ~:s snoadn on s~,~id list filed by the I~ul~erintendert of ~3treets axed determined by said City Council, a.nd a.n~= reassessments which rYay be issued thereon or in lieu t:ne_eof, together Frith interest trlereon, shall remain and constitute a trust fund for the redemption and pa~ni7ent of s4~.id bonds and of the interest w_~>_ch clay be due thereon, ti~nicYY unpaid assessments shall be payable in wnnual series correspond- ing in number to the number of series of bonds issued, and an even annual proportion of each assessment shall be payable in each ye«r preceding; the date of the xua,tuxity for eacll of the sever=ll series of bonds issued, and such Nrorortion of each assessr.~leut col.~ing due i~: :,ny year, together with the annual interest thereon, shall in turn be i,aya,ble in installmel.ts a•s the ~;ener~:i municiy~a.l taxes of s_~id City on 're~:l y~rorerty are ps~.yable, c,.nd shall hecorle delinquent at the sus:.e til:ies and in the same pro~,:or- tioxla.te ~niounts and bear the sa.rie l,ro~~ortion~.te penalties for delinquency. ~5aid bOnd•i S11c111 bB 31t;ned b~r file vlty `treasurer of Said City e.nd countersioried by the City Clem, vrho shall affix thereto the official seu•i of said City; file interest coupons a.ifixed thereto shall be signed by the 'Creesurer or bec:,r ills engx~,ved or li tA,ogr~.plled sign.lture; swirl bonds shall be substanti~lltr i.n file =oi-: Set furtrl in s_~id '~Ii.,y~ruven:e:.t ~'On(.1. iiCt of .1. :11J,~f aS ~, Lleit Cied, Sci 1(.1 Clt;y" Tre_iS ii :.'er :Yid SulC1 (,'1ty Clerk bElii~ Hereby i3UthOriZed and d]reCted SO t0 S1Si1 and countersign res- peCt].Ve lv. The interest cou_ ons a~taclled to each of said bonds and evi-- dsi.c~n~, th% interest ;.c accrue thereon shall be nullberec. consecutively <<nd be substurtially in file fullotia:.n~; f'orl:., to-wit: Couz~on T`o.!_~_~:Crn.~roval.iant T,ora, Cit;,~ of !_x•r;;yo Gr_:nde ,v _ 't'he City of grroyo Grande v,iil pay to the bee.rer hereof on tiie secona d: ;- o:t .__._ 19;i ;, s+t the off ice of t~1e Ci t,~ Treasurer of paid Citv in the COUYlty Of .JL'ri LUlS ~Jb1S~;0, ;,itS,te Of Cal iicrria., said sure i]e 1n~ file SeAi ]. cinnLl _il lnte rP. S'G O.UC; Un TY:iy rOVeliie Ylt l~Ond lv"O. O f ~~ E; r l e e iv`O . 7 j;y= 1reL:5UrE 1' /i esa • III©•~s d Section 3. 3ziid bonds sh~~.ll be forthvrit_: delivered to squid C Orit2'L: C'COl" i11 SJtia^f G1.Ctl.Ori of the balance di.ie .112:1 uivOn i'L1S U,SS eS Siiellt o.nd WarrH•nt,. I hereby certify tria~t the foregoing resolution teas duly- a.nd ret;ularly~ introduced and adopi.ed by tiie Ci'tyr Council of t_1e City of Arroyo Grande at an adjourned re~;ul~~r meetinE thereof held on the 30th day of October, 1x29, by the fiollorrin~; vote: '~~y'S: Councilmen Nob1e,VConrad, *oole_,_, Cox NOF3: done ABSER7'1': Councilman r~or~~.n_~~. __,~ AT TF3ST ~.~ ~-~ City Clerk