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CC Resolution No. 3873.10 e RESOLUTlOi~ N0. 3fi73.10 A RESOLUTION OF THE CITY COUi~CIL, OF THE CITY OF Ci1PER`rINO DETE~MINING [1NPATD A~; ESSP~L ~1TS AND PROVIDING POR ISSUAi'1CE OF PORTION OF L-~ONDS TOP VALL•CO Pllrti: ASSrSSP~IENT DISTRICT 1974-2 - FIRST SAL~; . R~~,SOLVED, by ~he City Council of Lhe Ci~y of Cupertino, California, that~ ~ 1~'1-IFRLAS, this Council did, • on 1~Iarch 17, 1975, pass and adopt its Resolt~tion of Intention P1o. 3873.2, relating Lo the acattisitior. and consLruction of public improvernents in said City ur~der and nursuanL . to the nrov5.sior.s of the r;unicipal Improvement Act of i91.3, and did therein urovide Lhat serial bonds would Ue issued Lh~reunder ptzrsuant to th2 provis~ons of the Improvement Bond Act of 1915, reference ~o said P,esolution of Intention hereby being napressly made for f.urLhcr particul.ai°s; WHt3RFAS, not;ice of the recordation of the assessment and of the ~ time witnin l,rhich assessments rnay be paid in cash has b~en duly pub- lisned and r~~ailed in the rr,anner provided by law, and a lis~ of Lhe assessments levied in 'said proceedings is on file in Lhe office of ~ the Director of Fin ance of this City; ~ NOIa, `J'HLREFORE, IT IS HEREBY ORDFRED, as folloti,Ts : , 1. That the ~assessments in said List of Assessrnents and the a~jregate thereof are as shown on Exhibit "A" hereto at~tached and by reference made a part he:reof. 2. That for a par~ticular description of the lot;s or parcels . of land bearing the respective assessment numbers set forLh in s~id list reference is hereby made to the assessment and to the di2grum recorded in the oifice of the SuperinLenden~ of Streets of Lhis City after confirmation by tnis Council, the several lots or parcels of land represented bt said assessr~ent nurnbers being so number~d and designated upon said diagram and assessment as so.conf'irmed and re- cordcd, severally and respectively. ~ 3. The List of Assessments is in the amount of $855,095.6~, and bonds shall be issued u~on the security of said.amo~nt in ~he initial amoulzt of ~160,000; jurisdiction beiilg r~eServed to issue remaining . t~onds to r.•epresent the r~mainin~ portion of any unpaid assessm~nts, in accordance with the provisions of the Irnprovement F3ond l~ct of' 7.915 (Division 10 of t;~e Streets and Nig'r~w2ys Code) and under and pursuant to the provisions of said Resolution of' Int°ntion and the procecditzgs theretinder duly had ar~d taken. Said bonds sl~a1.1 Ue d~ted Dece;~~~ber l~, 1975, be designated S Q ies 1~ j~-C-Ii~ be thirty-two ( 3~) i.n nurnbe.r, b~ payablc at the principal office of the Bank of .4merica ?vTatic>>Za7. Trust and Savin~5 1!s ~oci2*icn, San Francisco~ C~lifo!^t1ia, Payin~~ ~ and R~gistr. at;ic~n ~~ent of the City, and b~ar interest from t:heir ~ . date to their respective dates of maLuri.ty aL the rate of not to exceed eighL percent (8%) per anntirn, represenL~d by coupons payable on January 2 and July 2 in each year, cainmencin~ ~Tanuar~y 2, 1977, and the d~nominaLions of said bonds a.nd Lheir respective nu~nbers and dates of rnaturity ar~e as shocan on Exhibit "B" hereto attact~ed and made a part hereof by refei°ence. ' 4. Said bonds shall be issued in series, and the assessrnents as shown on said list, and the unpaid assessm~nts the~~eof as sho.~rn on a list to be fil_ed wi.th tl~e City Director of Finance, together ~-~ith the interesL Lher~eon, shall remain and constitut~ a trust fund for the redernption a~~d payment of said bonds and of the interest which may be due thereon, ~,~hi.ch unpaid assessments shall be taxable in annt~al seric~s correspondin; in number to the nv.mo~~r of series of bonds issued, and an annual proporti_on of each ass~ssment shall be payable in each y~ar pz°e- ceding the date of the rnatur•ity for each of the several bor~ds issued, and such proporti.on of each assessment coming due in any year, to- gether with the annual interest thei°eon, shall in turn be payable in installments as the general taxes of the City on real proper•Ly are p3yable, and shall become delinquent at the sarne ~ime and in th~ same prooortionate amounts and b~ar tne same proportionate p~nalties for delinquency. ~ 5. The bonds sha~ll be executed on behalf of the City and under its official seal by the Treasurer and Clerk, and the coupons attached to the bonds shall be•executed by the Treasur•er. The signature of the Treasurer may be reproduced on the bonds and coupons by engraved, ~ prin~ed or litnographed iacsimile thereof, and the official seal may be placed on the bonds in like manner, and such signing and sealing ~ shall constitut;e and be a su£ficient and binding ex~cu~ion of each and every one of said bonds and caupons thereof, respectively. Said bonds •shall be subs~antially in the form set for~Yi in said Improvement Bond Act of 1915, except for such changes as are necessary Lo conform to the provisions herein. 6. Registration of Bonds. Any bond may be registered eiLher as to principal 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 Interes~. Upon presentation and reo,uest for registration as to principal and in.L-erest, the coupons shall be removed and canceled, or preserved in a place of safekeeping, at the option of the P,egisti°a~ion Agent, and tne numbers of all registered bonds and the namns and addresses of the owners th~reof shall be entered in the registration book maintained by the Reoistration Agent and a notation shall be made therein and on the bond that registration is as to prilZCipal and interest. Until such rzgistration is canceled as herein provided, the interest shall be payable only to the registe.red owner, and the principal shall be payable only to such owner upon pz~e- sentation of the bond. ~ 2 . . b) Principal Onl~. W'r~en a bond is re~istered as to pri.n- cipal only, a notation Lhat Lhat effect shall be made in the re~istra- • Lion book and on the bond, the coupons shall not be removed and Lhe inLerest; on such bond shall be paid upon presc:ntation of such coupons in the ~arne nanner as unre~;isLered bonds. Principal, however, shall be paid only to the regisLered owner upon presentatior~ of such bond to the Re~istration Agent. , c) Der~~istration. The re~istrat;ion of any unmatured bond rr,ay be cance].ed upon wriLten request of the registered owner. Upon receipt of such request and Lhe bond, the Re~istration A~;ent shall can- cel the registration in the bond re~istr.y book and on the back of' t;r~e bond, cause all uninatured coupons to be r~printed, if necessary, and reatt;ached to ~~he bond, and deliver the bond and attach~d coupons Lo the o~aner. Until such bond is reregistered, the princina.l thereof ~ shall be payabl.~ to Uear~er, and . the i:~terest shall again be paid ur~on surrender of prooer coupcns. d) Reregi.stra~ion: Deregistered bonds may be reregi_stered in the same iranner as previously unregistered bonds. . e) The person reauesting registration, d~registration or ~ reregistra~ion shall pay Lhe fees char•~ed by the Registration A.gcnt for such service, including any cost of reprinting the coupons. f) There shall be provided on the back of each bond a suiL-able staterner.t to be sioned by ~he Registration Agent indicating the date of regis~ration, the type of registraLion, the name of the registered owner, and the date of any canc•ellation tlzereof. 7. The cot~.pons shall be numbered consecutively and be substan- • tially in tn~ following form, to wit: , On the Second day of CITY OF CUPERTINO, California, will pay to bearer the sum hereon (unless the 19 ~ bond is redeemed prior therete) at the principal offic of the Paying $ Agent ~nd Registra~ion Ag~nt, Bank of America N.T. & S.A., in San Francisco, Coupon No. Califcrnia, as interest on Improvem~nt Boi7d, VALLCO PARK ASSESSNLNT DISTRICT ~ No. ~ N0. 1974-1, dated December 15, 1975, • SERILS 1974-2-A. • Treasu~ er ~ 8. On the basis of the facts, estimates and circumstances now in existence and in existence on the date of issue of the bonds, as determir.ed by the City Treasurer, the Treasui~er is aut;horized to . 3 e ~ , I ~ . certify tl~at; it is not expected LhaL t;he proceeds of the issue will Ue used in a inanner that; would cause such obli~ations to be arb3.tr~ap;~ bonds. Such cert,ificaLion sl~all be delivered to the purchaser to- gether i~iLh Lhe bonds. 9. The City Clerk shall forward certified copies of this resalu- tion to Lhe City Treasurer and County Director of Finance. ~ PASSED AND ADOPTED at a regular m~eLing of the City Council of the City of Cupertino this 18th day of November, 1g75, by the foJ_lo~~r- ing vot~: ~ Vote P~9embers of the City Council AY E S: Frolich, Meyers, NelYis, Jackson NOES : None ~ ABSENT : Sparks ABSTAIN : None . . APPROVED: City rtino ATTEST: ~ C' y Clerk ~ ~ ~ ~ . r,z ;T oF ,~:,s~, ;,.~~~~~J~i,s v~L~,co n~Rx r-.s~l,ssr~~~,~~~r D_r.s~r~l~.. 197~a-2 , , - A),'~CSiMCNT ' • . • • A:SE:)EO UI.ON . - ~ ' ' . • ,AS:E550%i'3 ('Ai~CEI_ N~7O. (1) , 12) I]) ' , ' . • • fI~CAI Yf_AR 19 I~ •3 ~I~~IL? •S NODI/I[o PAYM~N73 t • ' ~ . , ~7 /nfl~ulw.~~lT CCnI~MU[p ww0 • d./l[~ . . ' - ~rl`ROV(O ~LCGNOCD ' RCCO~OA710N " . u~r • • . oi.:~u. a ASSCSSti`(MT ocoK . r^cc r.~~cc~ . 1 . 1~;;Np~VS w0. MO. I~O. I:f1tl~~3 ~f.iNTS _Ull1H] CfMT3 GOll~41 C:~T7 O~T~ flOlLa~~~__ IC[~~`I3 _ ' 1----- ~ 316 2 0 • ~ 3 2 ' -_53.~V ,99 ~ ~ . - - . ~ ~ ~ ~ ~ ~ 2 ~ ~ ~ i r ~ • _ ' 2 p 3 3 O 1-- 0 6 . ~ - - 19 Por. 51 . ~ . . ~ ~ ~ ~3 ~ . . = ~ _ Z p ~ ~ _ 2 9 ~ 3 7 7 8 3, 5 6 ~ ~ ~ ~ ~ ~ ~ ~ . ~ . ~ ~ . . ! - . ~ . . :?0 ..28 ?6561 25 ~ ~ " ' ~ . _ . - . . . . ~ ~ . . ~ . 52 . . . : . 5. . 19~~ ~ - Por 51 28182 07 . : . ~ ~ • ~ ~ . .~.Y; ~ ~ ~ 19. 50R53 81273 63 _ ~ . ~ ~ ~ ~ 7A...~ ~ ~ 19 ~ Por 48 ~5699 21 ~ ~ ~ . ~ ~ ~ ~ 7B ~ ~ ~ 19 ~Por 48. 15915I 91 ~ . : . ~ : g ~ ~ ~ ~ ~ 1~9. : ~ ~Por 46 37015 74 ~ " ~ _ ' ~ ~ . . ~ ~ : 1, ' 40 ~ 36759 77 . ~ ~ : ~ . 9 9 . lp ~ ' . lg Por 46 170848I57 ~ . ~ . ~ ~ ~ I_~ ~ I_ , . ~ ~ . . 1- - -Por ~46 165836I38 . . :.~I> ~ . . ~ ~ • ~ ~ 11 9 . ~ . Por 42 : . . _ . . • . ~ . . . 12~ . ~ . 19 &Por 45 33520 67 ~ ~ ~ ~ ~ _ _ : . : . . , . Por a2 : . , . . ~ _ . . . ' ' . ~ ].3 : ~ ~ ~ ~19 : ` 8zPor 45 523?2 L4~ ~ ' ~ - . . . . - ...1.4..'..: • . . ..i9.-'. . 25•. . 19011~35 ~ . • . ~ . . 15-, ~ 19~:~'.;~~ 26 . 18219 75 . ~ . . . . .~.1.~: . ~ . ~ . ~ ~ . ~ ~ ~ - : . ~ . : : . ~ ~ . ~ ~ . . . . . . . . . . . . . . : . . . . „ . . . . . . . ~ ~ ~ . . . . . . . ~ _ _ ~ - ~ ~ ~ ~ _ _ t ' . Bond Numbers Ainount of Year of Maturit.y Series (Ittclusive)* Princi_pal ~ (July 197~a-2-1~ 1 $ 5,000 1977 2 5,000 1978 3 ~5,000 1979 4 5,000 1980 ~ 5 5,000 1981 6 - 7 . 10,000 1982 8 - 9 lo,oo0 1983 10 - 11 ` 10,000 1984 12 - 13 ' lo,oo0 1985 14 - 15 10,000 1986 16 - 18 15,000 1987 19 - 21 15,000 1988 ~ 22'- 24 15,000 . 1989 25 - 28 20,000 ~ 1990 29 - 32 20,000 ~ 1991 EXHIBIT "B"