HomeMy WebLinkAbout210 - Unpaid AssessmentsI
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Resolution No.
This being the day, hour•and place when and where all per-
sons were duly noticed to appear and show cause why ,bonds should not
be issued upon the security of the unpaid assessmente,snown by the
list thereof,filed by the Street Superintendent for'tho work done
and improvement made on certain puolic .struts, alleys and rights -
of -way in and owned by the City of Newport Beach,pursuart to Reso-
lution of Intention No. 158 and no person appearing to show or
did show any cause why the same should not be done or objected there-
to or protested against the same.
Resolved that the unpaid assessments for the work done add .
improvement made, pursuant to Resolution of Intention No. 158 are
as shown on the Street Superintendent's list of unpaid assessments,.
filed with the Clerk of the City of Newport Beach, on the 30th day
of September, 1922, and that each and every assessment is now unpaid
and the aggregate thereof is 4_3891.17
Resolved that bonds be issued up:n the security of such un-
paid assessments shown on the Street Superintendentis list thereof
in the manner and ae provided for in the Improvement Bond Act of.
1915; that all.of said bonds be dated the 12th day of Deeember,r 1922,
be 30 in number and of the following denowinatione: Bonds numbered
from 1 to 1 , both inclusive, shall be in the denomination of $250.00
each; bonds numbered from le to 28, to be in the denomination of
$9.41 each; and bonds numbered 29 and 301shall be in the denomination
of $9.42 each.
Two of said.bonds in successive numerical order and of the
denomination of $250 and $9.41 shall be paid each year excepting the
last two years when one bond in the denomination of $250 and one
in the denomination of 42 shall be paid. The payments of the
principal of.the bonds shall be on the 2nd day of. July of each year
commencing witn:the 2nd day of July, 1924, until all said bonds are
paid. -1
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The interest on said bondL and the money thereby represented
shall be at the rate of Seven per cent r_er annum., and mall be
paid semi - annually on the 2nd day of January and of July of each
year until the bonds, principal and interest, have been paid. Pro-
vided, the first instalime:t of interest shall be paid on the 2nd day
of January, 1924, bein,g the interest accumulating on the bonds from
the 30th day of September, 1922 tc the date of said first payment.
The bonds shall be substantially in the form provided by the Improve-
ment Bond Act of 1915 and shall be offered for sale and sold as in
said Act set forth, all of said bor;J.;, end the interest thereon shall
be paid out of the Nineteenth Street Zer�er Bond Fund and into which
fun; all asset+sTi:entn nd p. °naltiss, collected for the redemption of
said bonds and interest shall be denosite•d.
The collection of all said. u,::e= ;N:nents for the payment of
the bonds and interest shall be an rcvided for in said Improvement
Bond Act.
I hereby certify th.e foregoing resolLticn was regularly
introduced and paced 'r:,y the Board of Truoteer_ of the City of New-
Porgy Beach at a meeting ther•acf :eld er. the l.lth day of December,
1822, by the followinc• vote.
Ayes,Tru:>tees,g/ ��p,,,,
(01 ((// Z. J I ' ter/
Noes, Trustees,__=
Absent, Trustees, y�
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