CC Resolution No. 3871.12 WJML,: KJmh ~-27-75-].?_
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RESOLUTION N0. 3871.12
A RESOLUTION OP' THE CITY COUNCTL OI' THE CITY OF CUPERTINO
DETERMINING ASSESSMENTS AND PROVIDING FOR ISSUANCE OI~'
PORTION OF IIONDS. FOR VALLCO PARK ASSESSMENT llISTRICT ].974-1
~ ~FIRST SALE
RESOLVED, by the City Council of the City of Cupertino,
California, that ~
WHERI~AS, this Council did, on March 17, 1975, ~~ass and adopt its
Resolution of Intention No. 3871.2, relating to the acquisition and
construction of public improvements in said City under and pursuant
to the provisions of the Municipal Improvement Act of 1913, and did
therein provide that serial bonds would be issued thereunder pursuant .
to the provisions of th~ Improvement Bond Act of 1915, reference to
said Resolution of Intention hereby being expressly made for furf,her
particulars; ~
~ WHEREAS, notice of the recordation of the assessment and of the
time within which assessments may.be paid in cash is being duly pub- ~
lished and mailed in the manner provided by law, and~a list of t;he
assessments levied in said proceedings is on file in the office of the
Director of Finance of this City; ~
NOW, THEREFORE, IT IS HEREBY ORDERED, as follows:
~ l. That the .assessments in said List of Assessments and the
aggregate thereof are as shown on Exhibit "A" hereto attached and by
reference made a part hereof.
2. That for a particular description of the lots or parcels of
1and bearing the respective assessment numbers set forth in said list
reference is hereby made to the assessment and to th~ diagram record~d
in the office of the Superintendent of Streets of this City after con-
firmation by this Council,,th~ several lots or parcels of land repre- .
sented by sald assessm~nt numbers being so numbered and designated
upon said dia$ram.and assessment as so confirmed and recorded,
severally and respectively. ~
3. The List of Assessment9 is in the amounL of $720,0~l1.20, and
bonds shall be issued upon the security of said amount in the initial
amount of $515,000, ,jurisdiction being reserved to issuc remaining
. bonds to represent the remaining portion of any unpaid assessments,
in accordance with the provisions of~the Improvement Bond Act of 1915
~(Division 10 of the Streets and Highways Code) and under and pursuant
to the provisions of said Resolution of Intention and Lhe proceedin~s
thereunder duly had and taken. Said bonds shall be dat~d September 2,
1g75, be designated Series 197u-1-A, be one hundred thr.ee (103) in
nuruber, be payable at th~ principal office of the 13ank of Amei°ica
National Trust and Savings Association, San I~'rancisco, California, Pay-
ing and R~~istration Agent of Lhe City, and bear interest from th~ir
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l
date to their respective dates of maturity at the~ra~e of,not to exceed
eif~ht percent (8~) per annum,,represented by coupons payable on
January 2 and Jul.y 2 in each year, commencin~ J~Znuary 2, 1g77, and th~
denominations of said bonds and the~r respective numbers and dates of
maturity are as shown ~n Exhibit "B" hereto attachEd and made a part
hereof by reference.
~4. Said bonds shall be issued in series, and Lhe assessments as
shown on said list, and tYle unpaid assessments thereof as shown on a
list to be filed with the City Director~ of Finance, together with the
interest thereon, sYiall .remain and constitute a trust fund for the
redemption and pa.yment of said bonds and of the inte.rest which may be
due thereon, which unpaid assessments shall be taxable in annual series
corr~spondin~ in number to the number of series of bonds issued, and an
annual proportion of each assessment shall be payable in each year pre-
ceding the date of the maturity for each of the several bonds issued,
and such propor~tion of each assessment coming due in any year, to-
gether with the annual interest thereon, shall in turn be payable in
installments as the general taxes of the City on real property are
payable, and shall become delinqiient at the same time and in the same
proportionate amounts and bear•the same proportionate penalties for
delinquency.
5. The bonds shall be executed on behalf cf the City and under
its official seal by the Treasurer and Clerk, and the coupons attached
to the bonds shall be executed by the Treasurer. The signature of the
Treasurer may be reproduced on thE bonds and coupons by engraved,
printed or lithographed facsimile thereof, and the o.fficial se,al may
bP placed on the bonds in like manner, and such signing and sea.ling
shall constitute and be a sufficient and binding execution of ~ach and
every one of said bands and coupons thereof, respectively. Said bonds
shall be substantially in the form set forth in said Improvement Bond
Act of 1915, except for such changes as are necessary to conform to
the provisions herein.
6. Registration of Bonds. Any bond may be registered either
as to princi~~al and interest or as to principal only, upon written '
request of the bondholder and presentation of the bond to the Regis-
tration Agent for registration.
a) Principal and Interest. Upon presentation and request
for registration as to principa'1 anc~ interest, the coupons shall be
removed and canceled, or preserved in a place of saf.ekeeping, at the
option of the Registration Agent, and the numbers of all registered
bonds and the names and addresses of the owners thereof shall be
entered in the registration book maintained by the Re~;istration Agent
and a notation shall be made therein and on the bond that registration _
is as to priricipal and interest. Until such re~istration ts canceled
as herein provided, the interest__sh~.J_1 be payable only to the registe.red
owner, and the principal shall be payable only to such owner upon prc-
sentation of the bond.
2 . ~
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~ ~ b) Pr~l.nc:ti~~:7. ~~~l,y. ~~Jh~:i~ ,L l~ond ~i;~ rej;:l ~t:r~r.~c~cl a~, t;~ ~'r?'i:~•-
cJ~pa1 onJ_y, a r~~~u~~:,~!.r~ri^~~1~~.'~ ~•'.-~at c~i~fcr_i: sh~z1.J. l~r.:~ n~:1C7C :i.J'l t;hc re~~;:i,:~t;:~~;:~-
t;:LOi~ t)(:>O~: i_t7i~ Ol~ i:1iC' ~.OliCl ~'l:ti"!:; COI,j?GYi.; :;h~i~.~ I"!C)l: ~C1 I'~~i11UVCt(~ ~ill~~ l:};'::
~ 5~nt;erGSt o;~ ;:.ucn bond sY~z7.1 1;~~`~ ;y~~.~.c3 upc>n ~:~r.c:,c::nL~t;i.an of.' :;uch coui~~oi:;t
h. ~ti r`~ ;..r~ff ~n I.i~':1~~~.J. 11.^:.iil•'~'~~(.L~. ~ ~~L~`':t~~~C~.~~ :il~•;.~.~
:tr~ Lh~ ~r.~ ~Z~z :~s url . ~i ~x d ~
~j(.~,;j7u.:j.CZ (;i~l~.~j ~O ~~14 iC~3:t:iti'.C'.:t'(:Ci Oi~7iiCI~ l.lj~C?T1 ~71'(:'SC:i1i:i:.t::L01~ O~' ~~UC:rI ~.lOliit
~a 1,11c ~ ]',~:~;~~:>Lr~~.L:;.on l,Lc~r,t;. .
c) P~~~~~~~Tj.sLr~^t:~ion. The re~~.,,tr~~.!::i.c~n oi' an;~ unmatul,c~. l~cnr .
maST~ 'r~c C231'1CCle.~c~~u:;,o1z~ ~~:~~:ii;i•~.:i~ ~~<.;c;t~.i:;~ oi' tY,c ~.~c~;;~.,~t~z°cQ o,-:r,ct~~. U~~oiz
?~ece:i_~;t of such r~cc~uesi; ar~d i,hE boi::l, ~'-le 1?^E;:i°~~.r-~ti.o;i ~;~;er~t, sh~:~:il cc~.~~-
ccl ~;he ~~~~~,:isi,7:~ ~:;:~~~i~ :t~z 1;;3c bo:~d re ~try boo3; ~_~nci on t}~~e bacic o~ t.}~~~
' i?o:~d, c~:use aJ_'1 1?i~:~iatu=i:c1. coupon„ to l~c reL~r:..i~cd, ~.i' r~,~~ce:;s~.~r~l, 2.,~r . .
z-•c~,.tt:~:.~i-,c~ ~ to Ll~c~ L~n~, rric? c,;~;.~~ ;,.~r f,l~e box~d ~ nc;. ~.tra~~Lecl cc~:,.?>o:::~ t.o
the o~~m~r. iJ~~~i,i~ such bond is i~c~~c"=;.~~CT'~G; t,hc: ;~~A~in~ca.p~.]. ~?~~e~:•eo~ ~
~ sh~ll. bt~ iJC~.jTi1~J.~: to U~a:L~~;r, anci ~he :~r~t~r~:;_t ~ h~. Ll~ a~u:i.n bc p~~id .
Sl2).'r'~;1Cj~::7' Oi' Ui'C1~C': CO1~1~01)S. ~ ,
' (1~. R;:z't ~;~~5~~~.,t.~_GI~.. U~1'°~15~°_~'CC~ 'vOi?~S I113.~' l~C' 1'G'1C~ 1St,~i"•Cra
~ S~i:i':~ 1i?d~'i~~lE:'.'.' ~:.a j~l'C\~:LC'>J;i.Ly L')'l.:i c^.~1SL.C.'1'iiC: UC11G~5
in tl .e ' ' ~ • .
~ G~ m17(' l7C`1'502~ 7'C'.Cxl.'tc~ ~fi~! l':~ I.'~'(~~.`•~tl'~i.~;:~0:1 ~ ClC?'E(r1.S1,r~3L:i_on Ur'
z~crc~(,is~ci°~t:~c~n sl~~~.ll pay th~ i~es eh~~r~~;eci bSJ ~,i1c~ ite~istl,at~.o~7 I~~;er:t,
i'oi~ such ::rr~tTice, incluGir,~ «n;~ co;;~c o?: rc~.rii:Lin~ L}le cai~pons.
~ lii-.~'~.1'G Sti~.~~_a ~~l"-; p~'O`d1~.GCi~ C?;; ~~~C }::1C:: af c:~ch 1:1011(~ c:
suita.l~].c ~~~i.c::icnt ~o be ;;irnn~~ b;t tr:~ he~j.::i:z~a~~.,.o:i fs~~~r~~t iru7.ca~•:~n ;
t)zc c±aLe o1 ~°~~:t~ ~rat;:i.on; f;he Lype o~ rc~ist;i~U:;io~:, t•};e n~.ir.e of.' Y,i~:~
r~f;ist:e~~~ci e~;:i~~r, and the dai:e of ar~~~ canc~~ll_~.~i:i.on t.lzer.°coi'.
7. 'Pl~~e cc~u;~ons sha].~ b~ ntzlr.b~z~ed con;~ecti'c:i~~e1y and bc~ sul~s:.~.~- .
LS.ally :Ln Lr~e f'el ?c,~;ino for;n, ~o :,rit.:
On the Second d«y of
C):'.PY Oi~ CUPLR`1~7;~?0, CalJ.i'ai~n~~ a, ~~ii_l:i_ p~.y ~ . ~
~;i} LlC:3w c:T' ~~~L' S?1171 )7r'1'~021 ~U;:~ C:rS 1:~iE'- ~.i~_ .
: .,~.d is rec?c~~~~necl ~~riol the~r~i;c) aL . . ~
pl'j..~Cl}~;i~ O~ ~.~C•-^. Uj' LrIC: 1T?~~t~', ~ .
. :~::.~.n~; ~znd t~°C;~.:~t.rt~~•:i.ori An;ent, I,an~: of
l,;;i~~:r_i_c~. I~~.`l'. ~ S.~t~., in ~?Z 1~'rai~c_f.~~co, ~ Cour~on Na.
Calli'ortziu, as inLerGSt on Iir:;~r~ove:~~criL ~ . ~
BoiZd, ~?;,LLCU I'T:Ii~C 11S`~LS`:,••:Li~.i~l~ D7STi~ti:C'I' l~o. '
1`0. 1~)7~+-~., datee~ Sepi:ei~~Uer 2, i97~, ~
S~RTES :1.971f-1-/~. .
.'1'z'~u:;ur~ci' . .
~i. 0~1 t:hc b~.t~~:i.r, oS' tl-~c i'ttct;~~, c:.~L1m~1Lr..:, <.nd ci.r~c~~~nt;i:a~;c:c~ ; T~a~.r
• :i.n ex i:~i:cncc~ ;~t~a ~.n c~i.:.~;cncc o:z 1:1~c:~ d,~t,e of' 1:;.,uc, ai' t:llc 1~onci:,, ,
dct,c~.~;~i~i.i~c~d l~,y t:}ic: C~.Ly .`1'~°e:.is~ir~ A, Llie '1'r~~aUu~.•c~~.~ :l_,; ~il,l'i,l~io~.~i:~~:d t;c~
~
ci: rtil'y
i. haL it :i. > not -I
proce(,d,,�
of the issue will
l)e u3ec[
in a ITLanriL,r thrit would
71.1ch c bl_i.;; lticinS
La b,'-
bund";.
iuch cerl.ific-ation 5i-jall
be dolivered to
th(-, j:)urchwl,Lx' to--
frot- -ier
with the' bonds.
9.
The City Clerk shall.
forward certified
copies of this resolu-
tion to
the City Treasurer and
Cou.lty Dirctor of
Fi.narice..
PASSEID
c,i' D ADOPTED at
a ret ular
rfieetlng of the City C;ounc1.1 of
the
C,].ty o
Cupert:i.no this
2nd dad;
of Serrember, 1915, by the follow—
ing
vote
V(:)tr P' ar,1,be-tl
-.3 of. the City Co'-in,r.l
AY-;-S: Meyers, Nellis, Sparks, Jackson
'i10.1:?S : None
Aj3k'�E,PyIT: Frolich
A13T A I N : None
APPROVf",D:
01
y or, l::l. Gy' l'L:1T1Q
ATTEST:
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EXHIBIT "gr'
Bond Numbers ~ Amount of Year of Maturity .
Series (Inclusive)* Principal (July 2)
1974-1-A 1 $ 5,000 1977
2 5,000 1978
3 - l0,000 ~ 1979 .
. 5 - 6. ~ l0,000 ~ 1980
7 - 8 lo,oo0 1981
9 - lo ~ lo,ooo 1982
~ 11 - 12 l0,000 ` 1983
. 13 - 15 15,000 1984 ~
16 - 18 15, 000 19 85 . .
. , 19 - 21 15,000 1986 ~
22 - 24 ~ 15,000 1g87 ~
25 - 28, 20,000 . 1988
~ ~ 29 - 32 20,000 19`i9 ~
33 - 36 20,000 1990
.37 - ~+1 25,.000 1991 . .
42 - 46 25,000 ~_gg2
47 - 51 25,000 ~ 1953
52 - 57 30,000 1994 .
5$ - 63 30,000 199,5
• 64 - 70 ~ 35~000 1996 .
~ . 71 - 77 ~ 35,000 1997 .
78 - 85 40,000 1998
86~- 94 45,000 ~ 1999
95 - l03 45,000 2000
~ Bonds are of the denominaticn of $5,000 each.
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~ EXHIBIT "A" ~
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LIST OF ASSESSMENTS
ViLLCO PARK ASSESSNfENT DISTRICT 197~-1
Assessment . Assessor's Amount of
Number Parcel Number Assessment
1 . 316-20-32 $ 28,9'l5•99
2 316-20-33 ~ ~,576.29
3 Por. 316-19-51 ) .
316-20-29 ) 19,169.63 ~
. 4 ~ 316-20-28 . 23,622.~+3
5 :;16-19-52 )
Por. 316-19-51 ) 14,295.50
6 316-19-50 & 53 24,900.90 !
lA P~r. 316=19-48 8,687.71 ?
7B Por. 316-19-48 3,01~.55 ~
8 Por. 316-19-~l5 11,16u.72 ~
g ~ 316-19-40 . 18,653.87 f
10 Por. 316-19-~6 22,866.98 ~
11 ~ Por. 316-19-46 2~,203•56 ~
i
12 Por.. 316-19-42 ) ,
Por. 316-19-45 ) 1~,339.08
1.3 Por ~ 3i 6-19-~i 2) ~
3,~~ i~~, 1Fp.,?1~
F~r~. ~~-1~--~~ ~ ~ ~ , ~
14 316-19-25 9~64G.55
15 316-19-26 9,2~7.04
21 316-18-25 9,3~5•05
23 316-18-27 ~ 8,847.52
25 316-18-19 12;697.~t2
28 316- 6-19 - 8,905•63 .
29 316- 6-33 6~370•50
30 316- 6-34 11,302.7~
32 316-18-22 ) ~
31~- 6-26 ) 59,905•9$
34. . • 316- 6-3o y,496.39
35 316- 6-29 7,489.16
36 316- 6-28 ~ ' 2,1.13.82
37 316- 6-27 & 32 `36,639•47
38 316- 6-23 ~ ~ 1,176.77
~+1 316- 5.-49 22, 322.19 .
42 316- 5-50, 51, 52, 53~ 5~ 20,448.07
44 316- 5-48 1,096.87
45 316- 7-39 ~ 40 91,852•92
~+6 316- 7-38 & 41. 100,983• 73
47 316- 7-3~ 3~392.27 .
48 316- 9-19 ~ 1, 87~t .11.
~9 316- 9-27 1,619.87
50 . 316- 9-28 3,697.36 .
51 316- 9-29 13,176.84
52 316- 9-30 1i,578•77
.53 •Por. 316- 9-31 13,176.85
54 Por. 316- 9-31 10,975.8~
,$720,041.20