HomeMy WebLinkAbout3745 - Street Improvement Bonds, Resolution 3617- 1 -
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RESOLUTION NO. 3745
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A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF NEWPORT BEACH, CALIFORNIA, RELATING
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TO THE ISSUANCE OF STREET IMPROVEMENT BONDS
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PURSUANT TO RESOLUTION OF INTENTION NO. 3617
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DETERMINING THE AMOUNT OF UNPAID ASSESSMENTS,
PRESCRIBING THE DENOMINATION OF SUCH BONDS
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AND PROVIDING FOR THEIR ISSUANCE.
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I- MREAS, pursuant to statute, "Improvement Bond Act of
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1915 ", Division 10 of the Streets and Highways Code of the State of
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California, notice of filing the list of unpaid assessments was dul
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given in the manner and form required by law, that the warrant,
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assessment and diagram as recorded on the 23rd day of August, 1949,
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for the construction of sanitary sewers and pumping stations in
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Balboa Boulevard (formerly Central Avenue) in the City of Newport
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and that the said warrant, assessment and diagram were retur
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led to the Superintendent of Streets, together with a written state -
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went of all payments received upon the said assessment, and after
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the full expiration of thirty (30) days from the date of said
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the said Superintendent of Streets duly made and filed
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with the City Cleric of said City a complete list of all assessments
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remaining unpaid upon said assessment, which list is now on file
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in the office of the City Clerk of said City. Now, upon evidence
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Ishown, this City Council determines that the assessments herein
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were then unpaid, the total aggregate thereof being the
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sum of Twelve Thousand Eighty -four and 42/100 Dollars ($12,084.42).
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That, since the filing of said list of unpaid assessments
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with the said City Clerk, the following hereinafter enumerated
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assessments have been paid:
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Asst. No. Amount Asst. No. Amount Asst. No. Amount
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17 $ 20.52 599 $ 27.85 1366 $ 32.90
248 31.43 770 9.03 1378 29.91
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286 22.17 1019 21.06 1585 27.61
527 15.07 1286 23.26 1586 27.61
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529 17.24 1330 42.37 1647 27.31
1339 44.86 1954 27.14
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1 917 18.47
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aggregating the sum of Four Hundred Sixty -five and 81/100 Dollars
($465.81) and no others have been paid, or partially paid, since
the filing of said Street Superintendent's list of unpaid assessment,,
and that there now remains unpaid the sum of Eleven Thousand Six
Hundred Eighteen and 61/100 Dollars ($11,618.61) upon the assess-
ments shown in said list, other than those hereinabove noted as
having been paid or partially paid.
Reference is hereby made to Resolution of Intention No. 3617,
adopted by the City Council of said City on the 13th day of Septemb
1948, for a description of the work herein mentioned, and also to
the list of unpaid assessments filed as above noted for the assess-
ments unpaid; and
WHEREAS, interested persons were notified in the manner re-
quired by law to appear before the City Council of said City, in the
Council Chamber of the City Hall, at the hour of seven - thirty o'cloc
(7:30) P.M. of Monday, the 14th day of November, 1949, and show
cause why bonds should not be issued upon the security of the
aggregate of unpaid assessments herein noted; and
TR EREAS , notice was duly given as required by lava that
serial bonds to represent unpaid assessments, and bearing interest
at the rate of five per cent (5 %) per annum, will be issued here-
under in the manner provided by the "Improvement Bond Act of 1915 ",
being Division 10 of the Streets and Highways Code of the State of
California, the last installment of which bonds shall mature two (2)
years from the second day of July next succeeding ten (10) months
from their date; and
1:I�REAS, all interested persons having appeared before this
City Council and having been given full opportunity to show cause
why bonds should not be issued upon the security of the unpaid
assessments shown on the said list, and all objections presented
having been heard and considered,
NOW, THEREFORE, BE IT RESOLVED AND DETERMINED by the said
City Council, as follows-
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1. That the City Council does hereby find and determine that
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no cause has been shown why bonds should not be issued upon the
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security of the unpaid assessments, and does hereby overrule all
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objections thereto.
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2. That serial bonds shall be issued upon the security of
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said unpaid assessments to the said amount of Eleven Thousand Six
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Hundred Eighteen and 61/100 Dollars ($11,618.61).
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3. That the said bonds shall be fifteen (15) in number,
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known as Series Q, and shall be dated the 14th day of November, 1949
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and bear interest at the rate of five per cent (5 %) per annum, and
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the denominations of said bonds and the dates of their respective
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maturities thereof, shall be as follows:
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Bond No. Amount of Bond Date of Maturity
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1 $ 1,000.00 July 2nd, 1951
2. 1,000.00 July 2nd, 1951
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3 1,000.00 July 2nd, 1951
4 500.00 July 2nd, 1951
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5 372.87 July 2nd, 1951
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6 1,000.00 July 2nd, 1952
7 1,000.00 July 2nd, 1952
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8 1,000.00 July 2nd, 1952
9 500.00 July 2nd, 1952
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10 372.87 July 2nd, 1952
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11 1,000.00 July 2nd, 1953
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12 1,000.00 July 2nd, 1953
13 1,000.00 July 2nd, 1953
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14 500.00 July 2nd, 1953
15 372.87 July 2nd, 1953
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4. That the first coupon of interest on said bonds shall be
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ifor interest from the 14-th day of October, 1949 to the second day
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of January, 1951, and the several coupons of interest thereafter
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shall each be for the semi - annual interest.
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5. That the signature of the Treasurer of said City upon the
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coupons attached to the said bonds shall be a lithographed or print-
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ed signature, ace of a signature gn ature in p by hand.
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6. That the City lerk be and he is hereby, y, authorized and
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directed to deliver forthwith the bonds hereinbefore enumerated to
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the Crowell Weedon & Co., assignee of the contractor, in satisfactio
of the balance due upon its assessment and warrant.
I HEREBY CERTIFY that the above and foregoing resolution
was duly passed and adopted by the City Council of the City of
Newport Beach, California, at a regular meeting of said City Council
held on the 14th day of November, 194.9, by the following vote, to-
wit:
(SEAL)
AYES: Councilmen /s/ Greeley, Robertson,
Isbell, Blue, Drake
NOES: Councilmen None
ABSENT: Councilmen None
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/s/ C. K. Priest
City Clerk of the
City of Newport Beach, Californ
STATE OF CALIFORNIA )
• COUNTY OF ORANGE ) SS
CITY OF NEWPORT BEACH )
I, MARGERY SCHROUDER, City Clerk of the City of Newport
Beach, California, do hereby certify that according to the records
of the City of Newport Beach filed and maintained in my office,
the foregoing Resolution No. 3745 was duly and
regularly adopted, passed, and approved by the City Council of
the City of Newport Beach, California, at a regular meeting of said
City Council held at the regular meeting place thereof, on the
14th
vote, to wit:
day of November , 1949, by the following
AYES, COUNCILMEN: /s/ Greeley, Robertson, Isbell,
Blue, Drake
NOES, COUNCILMEN: None
ABSENT, COUNCILMEN: None
Dated this 1st day of December , 1958.
City ClerjA an Ex-Utticio Clerk
of the City Council, City of
Newport Beach, State of California.
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