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CC Resolution No. 4144.15 ~ ~VJML ~J:~n 9/14/7E .n ~ , - RESOLUTION N0. 4144.15 ~ . ' A RESOLUTION OF THE._CITY COUNCIL OF THE CITY OF CUPERTINO ~ DETERti1INING UNPAID ASSESSI]ENTS AND. PROVIDING FOR THE ~ ' ISSUANCE.OF BONDS ~ ~ FELTON ASSESSI~2ENT DISTRICT PROJECT N0. ?5-6 . RESOLVED, by the City Council of the Citp of Cupertino, California, that ' ~ WHEREAS, this Council, on April 5, 1976, did pass and .adopt its Resolution.of Intention No. 4144.2, relating to the acquisition a.nd construction of public improvements in said City • .under and pursuant to the provisions of the Municipal Improvement Act of 1913, a.nd did therein.provide that serial bon'ds would be issued thereunder pursua.nt to the provisions of the Improvement Bond Act of 1915, reference to said Resolution of Intention and the proceedings thereunder duly had and ta.ken hereby being ex- pressly made.for further par.ticulars; _ WHEREAS, notice of the recordation of the assessmE~nt a.nd of .:the .time within which assessments may be pai.d in cash has been duly published and mailed in the manner provided bp law, ~nd the time so provided for receiving payment of assessments in~cash has expired, an~d the Fina.nce Director, being the person appointed as ~ , Collection Officer; has filed~in his office, as Treasurer, a list ' of.~all assessments which now~ remain unpaid; ~ WHEREAS, this Council has duly considered said list and ~ has determined that. the same is a.n accurate statement thereof; ~ NOW, THEREF'URE,. ~IT IS HEREBY ORDERED, as follo~vs.: 1. That the assessments. now remaining unpaid,. a.nd the aggregate thereof, are as shown on.s aid list and on Exhibit "A" hereto attached a.rid by reference made a part hereof..~ ~ 2. That for a particular description of the lots or par- cels. of la.nd bearing the respective assessment numbers set forth in said list a.nd upon which assess~nents remain unpaid,. severally and respectively, reference is her.eby made to the assess.ment and diagra.m recorded in the office of the Superintendent of Streets. of this City after confirmation by this Council, the several lots or parc~ls:of land represented by said assessment numbers bAing . so numbered and designated. upon said diagra.m a.nd assessment as so confirmed and recorded, severally and respectively. . - / ~ ~ ' ' > ~ 3. That the unpaid list is in the a.mount of $44,004.40, and bonds shall be issued in said amount upon the security of said unp aid assessments in accordance with the provisions of s aid ' Improvement Bond Act of 1915 (Division 10 of the Streets and High- ways Code) and under a.nd pursuant to the provisions of said Resolution of Intention a.nd the proceedings thereunder duly had a.nd ta.ken. Said bonds shall be dated October 1, 1976, be desig- nated Series 75-6, be payable at Bank of America National Trust a.nd Savings Association, the Paying and Registration Agent of the City, at ~ts principal office in Sa.n Francisco, California, and beax interest from their date to their respective dates of maturity at the rate of not to exceed eight percent (8~) per a.nnum, repre- sented by coupons payable on January 2 and July 2 of each year, commencing on Ja.nuary 2, 1978, and the denomination of said bonds a.nd their respective numbers and dates of maturity are as shown on Exhibit ''B" hereto attached a.nd made a part hereof by reference. 4. Said bonds shall be issued in series, and the unpaid assessments as shown on said list and determined by this Council, together with the in.terest 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 unp aid assessments shall be.taxable in a.nnual series corresponding in number to the numbe,r o:f series of' bonds issued, a.nd an annual proportion of each assessment shall be payable in each year preceding the date ~ of the m~.turity for each of the several bonds issued, and such~~ ~ proportion o~ each assessment coming due in any year, together arith the a.n.nuaT interest thereon, shall be payable in installments as the general taxes of the City on real property are payable, and sha11 become delinquent at the sa.me time and in the same propor- tionate amounts a.nd bear the same proportionate penalties for. delinquency. ~ 5. The bonds shall 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 Treasurer whose signature may be reproduced on the bonds and coup ons by engraved, printed or lithographed f acsimile thereof, a.nd the official seal may be placed on the bonds in like ma.nner, and such signing and . sealing shall constitute and be a sufficient and binding execution of each a.nd every one of said bonds and coupons thereof, respectively. Said. bonds shall be substa.ntially in the form set forth in said Impzovement Bond Act.of 1915; except for such changes as are neces- ~sary~to conform to the provisions herein. 6. Registration of Bonds . Any of said bonds may be registered as to both principal and interest or as to princip al• alone, and if registered may be deregistered,.reregistered or the ownership thereof tra.nsferred, upon the written request of the ~holder or registered owner and presentation of the bond to the Registration Agent for such purpose. . ~ . ~ -2- . ^ ' ~ ' ~ the type of registration and the name and address of the registered owner. . ~ 7. The coupons shall be numbered consecutively and be s.ubsta.ntially in the following form, to wit: ~ The CITY OF CUPERTINO, California, Due 2, 19 ~ will, on the due date hereof, unless the bond specified herein is re- deemed prior thereto, pay to bearer the sum hereon at Bank of America $ National Trust and Savings Associa- tion, the P aying and Registration . Agent of said City, at its princi- pal office in Sa.n Francisco, " Coupon No. California, as interest on' its I~PROVE~NT BOND designated FELTON ASSESSMENT DISTRICT PROJECT N0. 75-6, SERIES 75-6, DATED October 1, 1976, . bearing No. ~ Treasurer ~ ~ 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 determined by the City Treasurer, the City Treasurer is autho- rized to certify that it is not ~expected that the proceeds of the issue will be used in a manner that woul'd cause such obligations • to be arbitrage bonds. Such certification shall be delivered to the purchaser together with the bonds. ~ ~ 9. The City Clerk shall forward certified copies of this resolution to the City Treasurer and to the Director of Finance of Santa Clara County. -4- ~ ~ ~1 I ~ ~ I a) Principal and Interest. `Vhen a bond is presented for registration as to both principal and interest the coupons ~ shall be removed therefrom and canceled (or preserved in a place of safeke.eping, at the option of the Registration Agent), and the . number of the bond and the name and address of the person in whose ~ name it is to be registered shall be entered in the book of regis- tered bonds required to be-maintained bp the Registra,tion Agent, and a notation shall be made ther~in a.n.d on the back of the bond . that registration is as to both principal and interest. Until such registration is discharged, as hereinafter provided, the interest shall be payable only to the registered owner, and the principal shall be payable only to such owner upon presentation of the bond to the Registration Agent. b) Principal Only. When a bond is presented for registration as to principal only, a notation to that effect shall be made in the registry book and on the back of the bond~, the cou- pons remain negotiable and transferable by delivery and shall not be removed; interest on such bond shall be paid to the person presenting the coupons for payment; principal, however, shall be paid onZy to the registered owner upon presentation of such bond to the Registration Agent. c) Transfer. A registered bond map be transferred only by the registered owner, in person or by attorney duly autho- rized by a written instrument of transfer in form acceptable to ~ the..Registration Agent, and by the Registration Agent endarsing on the back of the bond and in the registry book the fact of the tra.nsfer. d) Deregistration. A registered bond may be dis- ~ charged from~registration upon written request of the registered owner. The Registration Agent.shall transfer the bond to bearer by appropriate endorsement on the baek of.the bond and in the regis~ry book,. cause all unmatured coupons to be reattached to the bond, where necessary, and deliver the bond and coupons to the owner, and thereupon negotiabilitp and transferability by delivery shall be restored; until registered again, the principal and interest shall be payable to bearer upon surreader of the . coupons and bond, as due. - ~ e) Reregistration. Deregistered bonds may be registered again, in the ma.nner heretofore provided. f) The person requesting registration,. transfer or ~ deregistration, shall.pay any charges therefor, including any cost of reprin.ting the coupons . g) There shall be provided on the b ack of each bond a suitable statement with appropriate bla.nks to be signed b;~ the Registration Agent, indicating the date of registration or transfer, -3- ' • ~ PASSED AND ADOPTED at a regular meeting of the Citp Council ~ of the City of Cupertino this 20th day of September, 1976, by the following vote: ~ ' Vote: Members of the City Council AYES: Frolich, Jackson, Nellis, 0'Keefe, Meyers NOES : None , - ~ ABSENT : None ~ ABSTAIN: None ~ APPROVED: w ~iayor, City of Cu tino ATTEST Ci Clerk . -5- ~ . • ~ LIST OF UNPAID ASSESSMENTS ~ • FELTON ASSESSMENT DISTRICT N0. 75-6 ~ Assessment Assessor's. Amount of Assessed Valuation Number ~ P~arcel~No. Assessment L~and Improvements 1 359-19-11 $ 1,000.1.0 $ 2,500 $ 9,350 2 359-19-12~ 1,000.10 2,500 8,000 ' 3. 359-19-13 1,000.10 2,500 7,930 5 359-19-15 1,000.10 2,500 7,730 8 359-19-18 1,000.10 2,500 7,550 9 359-19-19 1,000.10 2,500 8,620 13 359-19-08 1,000.10 2,500 7,830 14 359-19-07 1,000.10 2,500 8,130 ~ 15 359-19-06 1,000.10 2,500 7,550 18 359-19-03 1,000.10 2,500 8,200 19 359-19-02 I,000.10 2,500 . 8,350 21 359-18-01. 1,000.10 2,500 7,550 23 359-18~03 1,000.10 2,500 7,550 , 24 359-18-04 1,000.10 2,500 7,930 ~ 25 359-18-05 1,000.10 2,500 7,890 26~ 359-18-06 1,000.10 2,500 8,100 27 359-18-07 1,000.10 2,500 8,780 28 359-18-08 3,000.30 2,500 8,150 29 359-18-19 1,000.10 2,500 7,820 30 359-18-18 1,000.10 2,500 7,450 31. 359-18-17 1,000.10 2.,500~ 7,170 32 359-18-16 1,000.10 2,500 7,170 33 359-18-15 1,000.10 2,500 7,450 ~ 37 359-18-11 1,000.10 2,500 7,130~ ~ 39 359-18-36 1,000.10 2,500 8,880 40 359-18-35 1,000.10 2,500 7,850 42 359-18-33 1,000.10 2,500 ~ 6,750 45 ~ 359-18-30 1,000.10 2,500 7,170 46 359-18-29 1,000.10 2,500 7,170 48 359-18-Z7 1,000.10 2,500 5,925 ~ 52 359-18-23 1,000.10 2,500 6,075 53 359-18-22 1,000.10 2,500 6,175 54 359-18-21 1,000..10 2,500 5,925 55 359-18-20 1,000.10 2,500 , 7,100 . 56~ 359-18-47 1,000.10 2,500 5,925 57 359-i8-45 1,.000.10 2,500 5,925 ~ 58 359-23-14 1,000.10 2,500 7,100 ~ 59 359-23-13 1,000.10 2,500 7,100 ~ ~ 60 359-23=12- 1,000.10 2,500 7,250 6I 359-23-11 1,000.10 ~ 2,500 ~ 7,920 ~ _ ~ 62, 359-23-10 1,000.10 2,500 8,295 64 359-23-08 1,000.10 2,500 7,550 $44.,004.40 $105,000 $315,465 EXHIBIT "A" . . - ~ : ~ ` ~ CITY OF CUPER~INO . FELTON ASSESSI4IENT DISTRICT PROJECT N0. 75-6 ' . ~44, 004 .40 SERIES 75-6 IiVIPROVE1~lENT BONDS ~ . Bond Numbers Amount of Date of Maturity ( Inclusive ) * Principal ( July, 2 ) ' • 1 . $ 1,004.40 ~ 1978 ~ 2 1,000.00 T979 3 1,000.00 I980 4-5 2,000.00 I98I 6-7 2,000.00 1982 ~ ~ 8-10 3,000..00 1983 11-13 3,000.00 1954 14-16 3,000.00 1985 17-20 4,000.00 1986 21-24 4,000..00 1987 . 25~-28 4,000.00 I988 29-32 4,000.00 1989 . 33-36 4,000.00 19~J0 37-40 4,000.00 1991 ~ 4T-44 4,000.00. 1992 DENObIINATI~N: B~~nd number 1 is $1, 004.40 Bonds numbered 2 through 44 are each $1,000 EXHIBIT "B„ " ERNEBT A. wIL50N Af~CREW C. MALI,JR. ~1 ILSON~ JOl\.L~S, Mo$xox & LYxcs CNARL[$ N.ItIRIteRID[ neNNErH i.~oNes pEA11LD A.LASTER ATTORNEYS AND COUNSELLORS AT LAW ~ea+-ioii JAME9 T. MORTON JEIiEMIAM J. IYNCN MIRMERIDB 6 OORDON JONN E.IYNCM (IB5B-1971) MICHAEL R. NAVE 63O NORTH SAN MATEO DRIVE (~09[PH B.OOADON) PMILIP D. A99AP ,14ME5 L.COPHLAND ~Y~~~~~2~ PEOOY I.MaHLlI00TT gMARON 9. WNITC P. B~X 1$2 1lIRISBpID6 6 WILBON ROBERT J. MILI IG2G-ID~1 TNOMAS C. MOi70NEY MAYEF A. DANIEI SAN MATEO, CALIFORNIA 94401 JOAN E. BRIODY 1(~RI(BRIO[~ WIL90N. NAR2F6LD 6 WALLAC6 TMOMA9 B. ADAM$ pqUl C. WILI(IN9 IB~~-Ip61 9HERROD 9.DAVIS THOMAS S.OWHN ~415~342-3$23 LAWRENCE C. JHN9HN ROBERT O. AUWBREY OF COUN9CL ROV J. KOEOEN ARTNUP J.MwW2F[LO A. A. NAPLAN (MO. ONLY) September 14, 1976 _ ~ ~a ~ ~FrF~~`~''r' ~ ~J c'~ " _ "1:.~ Mr. William Ryder ~ City Clerk 10300 Torre Avenue ~ ~ Cupertino CA 95014 ~ RE: Felton Avenue Assessment Proceedings Dear Mr. Ryder: Enclosed for the agenda of the council meeting of September 20, 1976, please find the following resolutions: 1. Resolution Determining Unpaid Assessments and Providing for the Issuance of Bonds. 2. Resolution Awarding Sale of Bonds. The latter resolution formally confirms the action t~,ken by the council on bids received for the bonds on September 7, 1976. Please send us the usual certified copies of each resolution upon adoption. Very truly yours, . for , 0 , ORTON & LYNCH KIJ:pn Enclosures ~ ~ ~ ' . . . t -r + , ~ Cit~ of C~per~~~~ t lO3QO'.~J~'i0 HV::f~u:. , 1 Cupertino, California 95014 Telephone i408} 25~-~~OS DEPARTMENT OF f1DMIN15'fRA~'IVE SiR.~I~ES September 23, 19•7~6 ~ Mr. Kenneth I. Jones, AttornPy Wilson, Jones, Morton & Lynch P. 0. Box 152 San Mateo, CaliL-ornia 94401 ' FELTON ASSESSTIENT DISTRICT PR(7JECT N0. 75-6 I am forwarding for your files one (1) certiPie~i copy of the following res- olutions which ti~ere passed and adopted by the C3.ty Council at its meetings of September 8 and Se.ptember 20, 1976: ~ Resolution No. 4144..13.: A Resolution of the~Ci~~y Council of the City o'f Cupertino Approving Contract Change Order No.~:t for Felton As:a-e~"^t~nt District, Proj ect 75-6 ' ' Fesolution No. 4144.14: A Resolution of the City Council of the City of Cupertino Awarding Sale of Bonds, Felton Assessment~.District No. 75-6 . Resolution No. 4144.15: A Resolution of the City Council of the City of Cupertino Determini.ng Unpaid Assessments and Providing for the Issuance of Bonds, FC~ton Assessment District Project No. 75-6 ~ ~LLEN PAGNINI DEPUTY CITY CLERK ' „ ° f rw ' ~ encls. - ~ ' ~ I . ~ ~ ~ ~ ~ , > ' ,~L. ~i; ' Cftw ~f Cwpertit~d ; s~ 10300 Torre Avenuc Cupertino, California 95014 Telephone (408) 252-4505 ~ DEPARTMENT OF ADMINISTRA7IVE SERVICES September 23, 1976 . Mr. Gil Gunn Pacific Gas & Electric Co. 750 West Olive Avenue Sunny~ale, California 94086 FELTON ASSESSMENT D'iSTRICT PROJECT N0. 75-6 I am forwarding for your files one (l) certified copy of the following res- olutions which were passed and adopted by the City Council at its meetings of September 8 and September 20, 1976: ~ Resolution No. 4144.13: A Resolution cf the City Council of the ~ity of Cupertino Approving Contract Change Order No. 1 for Felton Assess~;fent District, Project 75-6 Resolution No. 4144.14: t~ Resolution of the City Council of the City of ~ Cupertino Awarding Sale of Bonds; Feltpn Assessment DisCrict No. 75-6 Resolution I~To,. 144.15: A Resolution of the City Council of the City of Cupertino Determining Unpaid Assessments and 1'roviding for the Issuance of Bonds, Felton Assessment llistrict Project No. 75-6 ELLEN PAGNINI DEPUTY CITY CLERK rw encls. ~ ~ ~ ' ~it~ af C~+perti»o 10300 Tone Avenue Cupertino, California 95014 Telephone (408) 252-4505 ~ DEPARTMENT OF ADMINISTRATIVE SERVICES September 23, 1976 ~ , . , Pacific Telephone 4 North 2nd Street, Room 625 San Jose, California 95113 Attention: J. A. Peterson FELTON ASSESSMENT DISTRICT PROJECT N0. 75-6 I am forwarding for your files one (1) certi.fied copy of the following res- olutions which were passed and adopted by the City Council at its meetings of September 8 and September 20, 1976: ' Resolution iv'o. 4144.13: A Resolution of the City Council of the City of Cupertino Approving Contract Change Order No. 1 for Felton Assessment District, Project 75-6 < Resolution No. 4144.14: A Resolution of the City Council o£ tlie City of ~ Cupertino Awarding Sale of Bor_ds, Felton Assessment District No. 75-6 Resolution No._4,144.15: A Resolution of the City Council of the CiCy of Cupertino Determining Unpaid Assessments and Providing for the'Issuance of Bonds, Felton Assessinent District Project No. 75-6 ~ , , ELLEN PAGNINI ~ DEPUTY CITY CLERK rw , encls. • • ' Cit~ af Cap~rti~o 10300 Torre Avenue Cupertino, California 95014 • Telephone (408) 252-4505 • DE.PARTMENT OF ADMINISTRATIVE SERVIC[5 September 23, 1976 . Cupertino SanitaryYDistrict ~ 20065 Stevens Creek Boulevard - Cupertino, California 95014 I'ELTON ASSFSSMENT DISTRICT PROJECT N0. 75-6 I am forwarding for your files one (1) certified copy of the following res- olutions which were passed and adopted by the City Council at its meetings of September 8 and September 20, 1976: Resolution Na. 4144.13: A Resolution of the City Council of the City of Cupertino Approving Contract Change Order No. 1 for Felton Assessment District, Project 75-6 ' Resolution°No. 4144.14: A Resolution of the City Council of the City of Cupertino Awarding Sale of Bonds; Felton Assessment District No. 75-6 ~ Resolution No. 4144.15: A Resolution of the City Council of the City of Cupertino Determining Unpaid Assessments and Providing for the Issuance ti of Bonds, Feitoh'Assessment District Project No. 75-6 ELLEN PAGNINI DEPUTY CITY CLERK rw encls: ~ . . . . ' C~~~ Of Cw~erti~,~ 10300 Torre Avenuc Cupertino, California 95014 Telephone (408) 252-4505 • UEPARTh1ENT OF ADMINISTRATIVE SERVIC[5 September 23, 1976 San Jose Water N 374 W. Santa Clara Street ~ San Jose, California 95113 Attention: iVorman New I'ELTON ASSESSMENT DISTRICT PROJLCT N0. 75-6 I am forwarding for your f.il_es one (1) certified copy of the following res- olutions which were passed and adopted by the City Counci.l at its meetitigs } of September 8 and September 20, 1976: . Resolution No. 4144.13: A Resolution of the City Council of the City of Cupertino Approving Contract i.hange Order No. 1 f.or Felton Assessment DistricC, Project 75-6 a Resolution No. 4144.14: A. Resolution of the City Council of the City of ~ Cupertino Awarding Sale of Bonds, Felton Assessment District No. 75-6 Resolution No. 4144.15: A Resolution of the City Council of the City of Cupertino Determ~.ning Unpaid Assessments and Providing for the Issuance of Bonds, Felton Assessment District Project No. 75-6 ELLEN PAGNINI DEPUTY CITY CLERK rw encls.