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Home My WebLink About4379 RESOLUTION NO. 4379 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, DETERMINING UNPAID ASSESSMENTS, AND ISSUING BONDS UNDER THE IMPROVEMENT BOND ACT OF 1915 FOR ASSESSMENT DISTRICT NO. 72-1 (ARCADIA INDUSTRIAL PARK) WHEREAS, this City Council has heretofore taken proceeedings under the "Municipal Improvement Act,of 1913", Division 12 of the ,....'..Streets and Highways Code, and has confirmed an assessment upon the district described in'.its Resolution of Intention No. 4346 for the construction of certain pubtic'street improvements in what is, known as ASSESSMENT DISTRICT NO. 72-1 (ARCADIA INDUSTRIAL PARK) WHEREAS, said proceedings provided for the issuance of bonds pursuant to the "Improvement Bond Act of 1915"; and, WHEREAS, the assessment and diagram in said proceedings has been recorded with the Superintendent of Streets of said Assessment District pursuant to Section 10600 of the Streets and Highways Code and notice of assessment has been recorded with the County Recorder pursuant to Section 3114 of said Streets and Highways Code; and, WHEREAS, following the elapse of thirty (30) days after the date of recording of said assessment with the Superintendent of Streets, the City Treasurer has prepared a complete list of all paid and unpaid assessment; and, WHEREAS, ,a copy of said list of paid and unpaid assessments is on file in the Office of the City Treasurer and this City Council has duly considered said list and has determined that the same is an accurate statement thereof; and, WHEREAS, the aggregate amount of the unpaid assessments on privately owned land within the assessment district is $339,270.46 and, a copy of said paid and unpaid list is attached hereto, and marked Exhibit "A". -1- 4379 WHEREAS, this City Council desires~ pursuant to Section 8650.1 of the Streets and Highways Code, to establish the denomination of the ,bonds to represent unpaid assessments on private property and the amount to mature each year which will be other and different than that provided in Section 8650 of said Code. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, DOES HEREBY RESOLVE, DETERMINE AND ORDER, as follows: SECTION 1. The above recitals are all true and correct. SECTION 2. That the assessments in said unpaid list which now remain unpaid, and the aggregate therof, are as shown on said list attached hereto and also as on file in the Office of the City Treasurer, and by reference made a part hereof. SECTION 3. (a) That in accordance with the proceedings, heretofore taken, bonds representing unpaid assessments on private property shall be issued pursuant to said "Improvement Bond Act of 1915". Said,bonds shall be numbered in consecutive nUmerical order, beginning with the earliest maturity, and shall be numbered from 1 to 167 , inclusive, bearing interest from their date at the rate of not to exceed seven percent (7%) per annum, and the denomination of 'said bonds with their respective numbers and dates of maturity are as shown on Exhibit "B" hereto attached and made a part hereof by reference. (b) Said bonds may be redeemed and paid in advance of maturity upon the second day of January or July in any year by giving notice as provided by law and by paying principal and accrued interest together with a premium equal to five per centum (5%) of the prin- ,cipal. (c) Said bonds shall be issued substantially in the form set forth in Section 8652 of the Streets and Highways Code. -2- 4379 SECTION 4. The bonds shall be signed by the City Treasurer of the City of Arcadia. The bonds and coupons affixed to said bonds may be signed by said City Treasurer by an engraved, printed or lithographed signature. SECTION 5. The proceeds from the sale of the bonds, excepting accrued interest, shall be placed in the fund as created, pursuant to Sections 10602 and 10424 of the Streets and Highways Code, which has been designated "Improvement Fund for ASSESSMENT DISTRICT NO. 72-1 and the monies in said fund shall be used only for the purposes au- thorized in said proceedings. SECTION 6. Said bonds shall be payable at the Office of the City Treasurer of said City. The bonds representing unpaid assess- ments on private property shall be paid exclusively from a redemp- tion fund created pursuant to Section 8671 of the Streets and Highways Code. In all respects not recited herein, the bond rep- resenting unpaid assessments on private property shall be governed by the provisions of the "Improvement Bond Act of 1915". SECTION 7. The Auditor of the County of Los Angeles, which said last mentioned political subdivision of the State of California, is the County which collects taxes for the City of Arcadia, California is hereby requested and directed in accordance with the provisions of Section 8682 of the Streets and Highways Code of the State of Cali- fornia, to enter in his assessment roll on which taxes will next become due, opposite each lot or parcel of land affected in a space marked "public improvement assessment" or by other suitable desig- nation, the several installments of such assessment coming due during the fiscal year covered by such assessment roll and that such\entry is made each year during the life of the bonds to be issued in said proceedings. SECTION 8. In accordance with the provisions of Section 8685 of the Streets and Highways Code, if any lot or parcel of ~i -3- 4379 land affected by any assessment is not separately assessed on the tax roll so that the installment of the assessment to be collected can be conveniently entered thereon, then the auditor shall enter on the roll a description of the lot or parcel affected, with the name of the owners if known, but otherwise the owners may be described as "unknown owners", and extend the proper installment opposite the same. SECTION 9. Said bonds are to be dated the 2nd, day of November, 1973. APPROVED and ADOPTED this 2nd day of October, 1973 (!,e~-~ MAYOR OF THE CITY OF ARCADIA, CALIFORNIA ATTEST: ' -~ \..---- CITY CLERK OF THE CITY OF ARCADIA, CALIFORNIA -4- 4379 STATE OF CALIFORNIA COUNTY OF LOS ANGELES CITY OF ARCADIA ) ) SS ) I, CHRISTINE VAN MAANEN City Clerk of the City of Arcadia -' California, DO HEREBY CERTIFY that the foregoing Resolution, being Resolution No. 4~79 , was duly p3ssed, approved and adopted by said city Council, approved and signed by the Mayor, and attested by the City Clerk, all at a regular meeting of said City Council held on the 2nd day of October 19 73 , and that the same was passed and adopted by the following vote, to wit: AYES: COUNCILMEN Hage, Helms, Scott and Arth NOES: C-ouNC.,I-I,MBN- None ABSENT: COUNCILMEN Butterworth DATED this 2nd day of October 1973 (SEAL) &ttOJZ~ ~~~~ CITY CLERK OF THE CITY OF ARCADIA, CALIFORNIA PAID AND UNPAID EXHIBIT Diagram & Assessorls ~,~~ssement Parcel Assessments Assessments 'C~~ I N;'mhc~ Unnaid Paid 1 85,'\2-17- 2 -$ 31 . 787 . 84 2 8532-17-4 $2,191. 38 . 3 8532-17-5 3,249.86', - 4 8532-17-6 2,461.55 - 5 8532-17-7 862.31 6 8532-17-8 28,034.18 ' 7 85,'\2-17-9 862.31 8 11532-17-10 4,311.54 9 85:\2-17-11 3,449.25 - 10 11532-17-12 15,922.97 11 8532-18-1 1,724.61 , I 12 , 8532-111-2 8,623.10 - 13 11532-111-3 2,994.29 14 8532-18~4 862.31 15 8532-lH-5 4,311. 54 J'TN 16 11532-18-6 31,449.77 I'TN 17 8532-19-2 49,912.61 f"fN III 85:\2-16-6 16,859.79 , ,PTN -'- . -' 19 8 5 3 2 - l(,. 6 4,366.62 20 8532-16-7 2,476.65 21 3532-15-3 1,805.80 . I - 2.2 8532-15-4 17,401.47 ji'j'N 23 8532-15-1 . 5,533.56 24 8532-16-5 5,231.19 25 8532-17-3, 438.29 I'TN 26 8532-18-6 39,238.31 l"fN 27 8532-19-2 33,567.31 I'TN 28 8532-16-6 21,531.43 TOTALS $339,270. 46 $2.191;38 EXHIBIT "A" Bond Maturity Numbers DatG ,(lnc.b!,si vel Denomination , .lliUY 2) 1 1,2'10. ~6 1975 2-4 1,000 1975 5-9 1,000 ]9'16 10-14 1,000 1977 15-19 ' 1,000 19'18 20-2/j, 1,000 1979 25 5,000 19'19 2G-30 1,000 19BO 31 5,000 1980 :,2-36 1,000 1981 37 5,000 1981 38-42 1,000 1982 tj" ~;, 000 1982 " 44,--48 1,000 1983 1.l9 5,000 1983 50-.54 1,000 198,1 55 5,000 1984 56-60 1,000 1985 61 5,000 1985 62-66 ' 1,000 19 B6 67 5,000 1986 68-72 1,000 198'1 ' 73-'1IJ 5,000 1987 75,.79 ] ,000 1988 80-8) 5,000 1988 82"[;6 1,000 1989 8'1-88 5,000 ,1989 89-93 1,000 1990 94-95 5,000 1990 96-100 1,000 1991 101-102 5,000 1991 103-10'1 1,000 1992 108-109 5,000 1992 110--114 1,000 1993 115-116 5,000 1993 117-121 1,000 19'94 122-124 5,000 1994 125--129 1,000 1995 130-132 5,000 1995 133-137 1,000 1996 138-140 5,000 1996 141-145 1,000 1997 146-148 5,000 1997 149-153 1,000 1998 154-157 5,000 1998 158-162 1,000 1999 163-167 5,000 1999 ,Exhibit "B" .