Resolution 1929/02/04 (2)
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By motion or John A. Clark, seconded by Elmer J. Ches-
bro the tollowing Resolution was passed aDd adoptedt
AD order providing tor the issuance of street ImproTe-
ment Bonds, prescribing the denominations of such bonds and
ot the interest coupons attached thereto
391
WHEREAS, the Mayor and Common Council of the City of Gil-
roy, County of Santa Clara, state of California, did, on the 11th
day of April, 1928, pass their Resolution of Intention No.~ 4-
1928 for the improvement of portions of Eigleberry street, Fourth
street, Fifth street, Sixth street, Martin Street and Lewis
Street in said City of Gilroy, under and pursuant to the provis-
ions of the -Improvement Act of 1911- and the amendments there-
to, and to the -Improvement BoDd Act of 1915- and the amend-
ments thereto, and to the resolutions, notices and other pro-
ceedings of said Mayor and Common Council duly adopted and taken,
reference to said Resolution of Intention No. 4-1928 being Here-
by expressly, made for a description of said work and for further
particulars; and
WHEREAS, the contract for said work and improvements was
duly awarded and thereafter duly completed to the satisfaction
of the Street Superintendent and of said Mayor and Common Coun-
cil of said City of Gilroy, whereupon an assessment and warrant
were made, recorded and delivered to the contractor in time,
for.. and manner as required by said acts, and the contractor
having made due return thereon, and the same having been duly
recorded; and
WHEREAS, on the 9th day ot January, 1929, the Street Superin-
tendent of the City of Gilroy made and filed with the Clerk of
said City a complete list of all assessments unpaid thereunder
upon the respective assessment numbere thereon, whereupon said
Clerk gave notice of the filing of said list and fixed in said
notice Monday, the 4th day of February, 1929, at the hour of
8:00 o'Clock, P.M. of said day, at the regular meeting place of
the Mayor and Common Council, to-wit: In the City Hall of said
City, as the time and place when interested persons might appear
before said Mayor and Common Council and show cause why bonds
should not be issued upon the security of the unpaid assess-
ments shown on said list, said time being that it this regular
meeting of said Mayor and Common Council; and said Mayor and
Common Council having heard all objections and having passed up-
on the same, it is hereby determined that the assessments unpaid
thereunder, and the aggregate amount of the same, are as
rollowst
392
Asst.No. Amount As st. No. Amo1m t Asst. No. Amount
34 $969.12 165 $456.31 376 $ 6.80
35 50.26 171 529.24 378 21.70
40~ 50.88 176 396.89 384 2.84
41 50.88 180 289.29 387 6.54
70 904.33 186 47.56 391 66.22
71 61.40 196 866.13 392 4'7'.09
72 18.42 235 967.96 394 149'.32
75 27.63 236 515.83 440 95.27
76 49.12 339 553.57 443 32.91
80 74.29 340 121.18 448 578.19
86 80.58 352 1.59 459 319.72
125 590.81 353 7.92
-128 27.07 363 31.50
147 179.87 368. 8.58
161 278.34 372 27.24
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That the total aggregate amount of said assessments unpaid
is the sum of Nine Thousamd, Five Hundred, Sixty and 39/100
($9,560.39) Dollars.
'rHEREFORE, in consideration of the premises, the Mayor and
Common Council of the Cit~{ of Gilroy do order as follows, to-
wit:
Section 1. That bonds shall be issued upon the security
of the said unpaid assessments to the amount of Nine Thousand,
Five HUndred, Sixty and 32/100 ($9,560.32) Dollars, in accord-
ance with the provisions of the "Improvement Act of 19111l and
the "Improvement Bond Act of 1915" of the State of California,
f..'-"
as amended and now in effect, and under and pursuant to the
resolutions, notices and proceedings of said Mayor and Common
Council of the City of Gilroy duly adopted and taken. Said
bonds shall be called "Improvement Bonds" shall be fifty-five
in number, shall be dated February 4th, 1929, and bear interest
at the rate of seven percent per annum from the 9th day of
January, 1929, and the denominations of said bonds and of the
in terest coupons required to be attached thereto, with their
respective numbers and dates of ma turi ty are as fo11oV'ls, to-wit:
Series Number Denomination Date of Maturity
Number of Bond
4-1928 1 $ 500.00 July 2, 1930
4-1928 2 100.00 July 2, 1930
4 -1928 3 100.00 July 2, 1930
4-1928 4 100.00 July 2, 1930
4-1928 5 69 . 12 July 2, 1930
4-1928 6 500.00 July 2, 1931
4-1928 7 100.00 Ju ly 2, 1931
4 -1928 8 100.00 July 2, 1931
4-1928 9 100.00 July 2, 1931
4-1928 10 69 . 12 July 2, 1931
4 -1928 11 500.00 July 2, 1932
4-1928 12 100.00 July 2, 1932
4-1928 13 100.00 . July 2, 1932
4 -1928 14 100.00 July 2, 1932
4 -1928 15 69.12 July 2, 1932
-.---......-----.-.- "
393
Series Number Denoulina tion Date of Maturity
Number of Bond
4-1928 16 $ 500.00 July 2, 1933
4-1928 17 100.00 July 2, 1933
4-1928 18 100.00 July 2, 1933
4-1928 19 100.00 July 2, 1933
4-1928 20 69.12 July 2, 1933
4 -1928 21 500.00 July 2, 1934
4-1928 22 100.00 July 2, 1934,
4-1928 23 100.00 July 2, 1934
4 -1928 24 100.00 July 2, 1934
4-1928 25 69.12 July 2, 1934
4-1928 26 500.00 July 2, 1935
4-1928 27 100.00 July 2, 1935
4-1928 28 100.00 July 2, 1935
4-1928 29 100.00 July 2, 1935.
4-1928 30 69.12 July 2, 1935
4-1928 31 500.00 Ju 1y 2, 1936
4-1928 32 100.00 Ju 1 Y 2, 1936
4-1928 33 100.00 Ju 1 Y 2, 1936
4-1928 34 100.00 July 2, 1936
4-1928 35 69.12 July 2, 1936
4-1928 36 500.00 July 2, 1937
4 -1928 37 100.00 July 2, 1937
4-1928 38 100.QO July 2, 1937
4-1928 39 100.00 July 2, 1937
4 -1928 40 69.12 July 2, 1937
4-1928 41 500.00 July 2, 1938
4-1928 42' 100.00 Ju 1y 2, 1938
4-1928 43 100.00 July 2, 1938
4 -1928 44 100.00 July 2, 1938
4 -1928 45 69.12 July 2, 1938
4-1928 46 500.00 July 2, 1939
4-1928 47 100.00 July 2, 1939
4..1928 48 100.00 July 2, 1939
4-1928 49 100.00 July 2, 1939
4-1928 50 69.12 July .2, 1939
4-1928 51 500.00 July 2, 1940
4-1928 52 100.00 July 2, 1940
4-1928 53 100.00 July 2, 1940
4-1928 54 100.00 July 2, 1940
4-1928 55 69.12 July 2, 1940
AND BE IT FURTHER ORDERED That with respect to said bonds
having a den;Jmination of $500.00 the first coupon to became due
and payable thereon shall be of the denomination of $34.32, and
that each of the other coupons attached thereto and which will
become payable thereafter shall be of the denomination of $17.50.
. And that with respect to said bonds having a denomination of
$100.00 the first coupon to become due and payable thereon shall
be of the denomination of $6.86, and that each of the other cou-
pons attached thereto and which will become payable thereafter
shall be of the denomination of $3.50.
And that with respect to said bonds having a denomination of
$69.12 the first coupon to become due and payable thereon shall
be of the denomination of $4.74, and that each of the other
394
coupons attached thereto and which will become payable thereafter
shall be of the denomination of $2.42.
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Section 2. Said bonds shall be issued in series, and the un-
paid assessments, as shown on said list filed by the Superin-
tendent of Streets and determined by the Mayor and Common
Council of the City of Gilroy, together with the interest
thereon, shall remain and constitute a trust fund for the re-
demption and payment of said bonds and the interest to become
due thereon, which unpaid assessments shall be payable in an-
nua1 series corresponding in number to the number of series
of bonds issued, and an even proportion of each assessment shall
be payable in each year preceeding the date of the maturity of
each of the several series of bonds issued, and such proportion
of each assessment coming due in any year, together with the an-
nua1 interest thereon, shall in turn be payable in installments
as the general taxes of said city on real property are payable,
and shall become delinquest at the same time and in the same
proportionate amounts and bear the same proportionate pena1-
ties for delinquency.
Said bonds shall be signed by the Treasurer of said City
,iiil'
of Gilroy and be countersigned by the Clerk of said City,
who shall affix thereto the corporate seal of said City; the
interest coupons attached to said bonds shall be signed by
the Treasurer of said City or bear his engraved, printed or
lithographed signature, and such signing and sealing of said
bonds by said officers, and the signing of said coupons by
said Treasurer, shall constitute and be a binding execution
of each and everyone of said bonds and all of the coupons
thereof respectively. Said bonds shall be substantially in
the form set forth in the "Improvement Bond Act of 1915'. of
the state of California as amended and now in effect.
The interest coupons attached to said bonds and evidenc-
ing the interest to accrue and become due thereon shall be
numbered consecutively beginning with the number one, inclusive,
and shall be substantially in the following form, to-wit~
Coupon No. ____
$
The City of Gilroy, California, will pay to the
bearer hereof on the second day of , 19
395
at the office of the Treasurer of said City the
sum of $ , being the semi-annual
interest due on Improvement Bond No. of
Series No.
Dated
Treasurer of the City of Gilroy
Section 3. Said bonds shall forthwith be delivered to
the contractor in satisfaction of the balance due upon the
assessment and warrant.
VOTE:
Ayes, Councilmen Walter G. Fitzgera1d,-C. E.-Fredrickson,
John A. Clark, Irvin HOllister, Elmer J. Chesbre.
Noes, Councilmen None.
Absent, CounGi1men E. Martin Johnson.
E. F. ROGERS
Clerk of the City of Gilroy
Approved:
(SEAL)
James princeva11e
Mayor of the City of Gilroy.
Motion by Clark, seconded by Fredrickson and carried:
That the City Attorney 1s hereby instructed to forward
agreement to the Shepherd heirs for the purchase of a cer-
tain strip or laud near sewer farm and when the said agree-
ment is properly approved a warrant in the amount of $168.
will be ordered drawn.
vote, Ayes, Councilmen Walter G. Fitzgerald, C. E. Fred-
rickson, John A. Clark, Irvin Hollister, Elm~r J. Chesbro;
Koes, Councilmen, Kone; Absent Councilman E. Martin John-
son.
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