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Resolution 1231 RESOLUTION NO. 1231 A RESOLUTION DETERMINING UNPAID ASSESSMENTS AND PROVIDING FOR ISSUANCE OF BONDS LUCHESSA AVENUE IMPROVEMENT DISTRICT PROJECT NO. 1967-2 RESOLVED, by the City Council of the City of Gilroy, California, that WHEREAS, said Council did on the 5th day of September, 1967, pass and adopt its Resolution No. 1139 of Preliminary Determination and of Intention, as subsequently amended, relating to the acquisition and construction of public improvements in said City under and pursuant to the provisions of Sections 12A.75 to 12A.83, inclusive, and Sections 12A.98 to 12A.I07, inclusive, of Chapter 12A, Article II of the Gilroy City Code, and did therein provide that serial bonds would be issued thereunder pursuant to the provisions of Bond Plan B, Chapter 12A, Article III, Division 3 of the Gilroy City Code, reference to said Resolution of Preliminary Determination and of Intention hereby being expressly made for further particulars; WHEREAS, notice of the recordation of the assessments and of the time within which assessments may be paid in cash, has been duly pub- 1ished and mailed in the manner provided by said Code, and the time so provided for receiving the payment of assessments in cash has expired, and the City Clerk has filed with the Director of Finance a list of all assessments which now remain unpaid; and WHEREAS, theCouncil has duly considered said list and has determ- ined that the same is an accurate statement thereof; NOW~ THEREFORE, IT IS HEREBY ORDERED, as follows: 1. That the assessments in said unpaid list which now remain unpaid, and the aggregate thereof, are as shown on Exhibit "Ail hereto attached and by reference made a part hereof. /~~ ~31 2. That for a particular description of the lots and parcels of land bearing the respective assessment numbers set forth in said unpaid list and upon which assessments remain unpaid, severally and respec~ tively, reference is hereby made to the assessment and to the diagram recorded in the office of the superintendent of Streets of said City after confirmation by said Council, the several lots and parcels of land represented by said assessment numbers being so numbered and designated upon said diagram and assessment as so confirmed and recorded, severally and respectively. 3. The unpaid list is in the amount of $275,860.11, and bonds shall be issued upon the security of said assessments in said amount in ac- cordance with the provisions of Bond Plan B of Chapter l2A, Article III, Division 3 of the Gilroy City Code and under and pursuant to the pro- visions of said Resolution of Preliminary Determination and of Intention, as amended, and the proceedings thereunder duly had and taken; that said bonds shall be two hundred seventy-six (276) in number, shall be dated March 8, 1968, and bear interest from their date at the rate of not to exceed six percent (6%) per annum, and the denomination of said bonds with their respective numbers and dates of maturity are as shown on Exhibit "BIl hereto attached and made a part hereof by reference. 4. said bonds shall be issued in series, and the unpaid assessments as shown on said list filed with the Director of Finance of said City and determined by said Council, together with the interest thereon, shall remain and constitute a trust fund for the redemption and payment of said bonds and of the interest which may be due thereon, which unpaid assessments shall be taxable in annual series corresponding in number to the number of series of bonds issued, and an annual proportion of each assessment shall be payable in each year preceding the date of the maturity for each of the several bonds issued, and such proportion of each assessment coming due in any year, together with the annual interest thereon, shall in turn be payable in installments as the general taxes 2 of said City on real property are payable, and shall become delinquent at the same time and in the same proportionate amounts and bear the same proportionate penalties for delinquency. 5. Said bonds shall be signed by the Clerk and Director of Finance of the City or bear the engraved, printed or lithographed signature of the Director of Finance and the official seal of said City shall be af- fixed thereto. The interest coupons affixed thereto shall be signed by said Director of Finance or bear his engraved, printed or lithographed signature; and such signing and sealing of said bonds by said officers and signing of said coupons by said Director of Finance shall constitute and be a sufficient and binding execution of each and everyone of said bonds and all of the coupons thereof respectively. Said bonds shall be sub- stantially in the form set forth in Bond Plan B of the Gilroy City Code. Said Director of Finance and Clerk of said City are hereby authorized and directed to sign said bonds. 6. The interest coupons attached to each of said bonds and evidenc- ing the interest to accrue thereon shall be numbered consecutively and be substantially in the following form, to-wit: Coupon No. $ CITY OF GILROY SANTA CLARA COUNTY, CALIFORNIA Will pay to bearer hereof on the 2nd day Of 19 at the Bank of America National Trust & Savings Assoc1ation, 300 Montgomery Street, San Francisco, California, the sum of Dollars ($ said sum being the semiannual interest due on , ) Improvement Bond No. of Series 1968-1 Director of Finance of the City of Gilroy 7. That the city Clerk shall forward to the Director of Finance and County Auditor a certified copy of this resolution. * * * * * * * 3 EXHIBIT "A" LIST OF UNPAID ASSESSMENTS CITY OF GILROY LUCHESSA AVENUE IMPROVEMENT DISTRICT PROJECT NO. 1967-2 Assessment Amount of Number Property Description Assessment 2 Assessor's Parcel No. 841-15-23 Northerly 20.0 acres thereof $38,121.21 3 Assessor's Parcel No. 841-15-23 Southeasterly 5.3 acres thereof 30,916.01 4 Assessor's Parcel No. 841-15-23 10.2 acres east of Jamieson Way 62,912.75 5 Assessor's Parcel No. 841-15-23 0.3 acres west of Jamieson Way 1,859.91 7 Assessor8s Parcel No. 841-15-22 Westerly 16~87 acres thereof 63,256.57 8 Assessor's Parcel No. 841-15-22 13070 acres east of Engle Way 78,793.66 $275,860011 EXHIBIT "B" Annual Series Bond Nos. Principal Amount Date of Maturity 1967-2 1 860.11 July 2, 1969 2 - 16 15,000.00 July 2, 1970 17 - 31 15,000.00 July 2, 1971 32 - 46 15,000.00 July 2, 1972 47 - 61 15,000.00 July 2, 1973 62 - 81 20,000.00 July 2, 1974 82 - 101 20,000.00 July 2, 1975 102 - 121 20,000.00 July 2, 1976 122 - ].41 20,000.00 July 2, 1977 142 - 161 20,000.00 July 2, 1978 162 - 181 20,000.00 July 2, 1979 182 - 201 20,000.00 July 2, 1980 202 - 226 25,000.00 July 2, 1981 227 - 251 25,000.00 July 2, 1982 252 - 276 25,000.00 July 2, 1983 I hereby certify that the :i'orego~ilb 1s a l'ull, true and correct copy of a resolution duly passed and adopted by the City Council of the City of Gilroy, California, at a meeting thereof held on the .1.2!b.. day of February 196~, by the following vote of the members thereof: , AYES, and in favor thereof, CouncilmemberS:Allemand, Duffin, Kennedy, ..., Quartiroli, Silva, Wentworth andGoodr.icb NOES, ABSENT, Councilmembers: None Councilmembers:None ~ r~ ( .; . ~L,JZUcn-vJ {, ,~...Jf- ,. Cit~. 'JIE7'k of the City of . Gilroy APP'rlOVED ~ ~~~ - Mayor .