HomeMy WebLinkAboutReso 1928-247 RESOLUTION NO. 247 ` yY + N �T "( }yam r
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ACQUISITION slap LmPROVEMENT' - 1 ,/Y.zi7 R
RESOI�UTIONAAQ$ ING WORK
DISTRICT NO'. 1 AND DETERMINIUO THE` 0U1
OF BONDS TO BE IS?LD
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CITY OFF CHU'LA VISTA. 1 • i '
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WHEREAS, the Contractor for the doing`sot 'theft work in - ;
the above numZ8rsd Acquisition and Improvement District hereto-
fore on the 29th; day of hay, 1928-, 4uly fired with the .Qlerk of
thia Council ite written declaration that' the. work In the said, :
Acquisition and 'Improvement District had been completed accord-
ing to the contract .exeouted and on.,tile therefor, together- - - . ,
with a statement of the amount claimed to be due muter the--Con-
tract and an itemized statement of the incidental expenses of
the improvement and the proceeding, tin which statement :the total .
drum for which bonds of the , atrict are claimed by the Contract-
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or !clearly appeared, *hick said declaration and statement Wele
duly signed and verified by'the Superintendent of Work and by
the -Qontraotor) ,and .
q ; ''thereupon this :cdtnoil dui`y'YS4,'�'uesdy��� , k,,,, 4,,°r.3°fit
• the/12th day' o'f June, 1928; at theliour of fOOMotc1oot A.Mt', ' ' •• .:,?,
of, said day, and at the chambers of said Coupcil,,, as the day,
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hour and 'place of hearing for the purpose of determining
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whether' or not the work and improvement should' be accepted as
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having been completed according to the contract, and Vends
iesued'•in paywept therefor, and instructed the. clerk of this. ,;
Council to' .give„xiotice of such hearing in accordance with the
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requirements' of the law; 'and
` WHEREAS,' thereafter the Clerk of this Connell duly
posted and 'publiahed the-said notice of said hearing°in .time, '
tanner and form ae required •by laws and
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DICTATED QY --s.--,
` - WRITTEN ANDREADB�•'�`'''�'f
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WHEREASp.on the said 12th day of: June, 19281 and
at the time and. place. in said notice specified therefor, this
Council convened tor the purpOse of hearing any legal objec-
• tions• to the acceptance of the said work; and
tions were made or o : :e = , the acceptance o • ' : said
work, or to the issuance' of bond: .< • : 'In " . er for in the ti
it ,,_. • ',..._ it • e ;. r • : -
WHEREAS, this Council is of the opinion that the
work specified' tp be done in the, Resolution Ordering Improve- ,
ment passed and adopted on the 8th day of November, 1827, has t
been completed and done, and that all of the said work pro-
vided to be done in and by the said contract ha's beer} completed
and performed according to the said contract in a good and star
atantial armor;
NOW, THERXFORE," BF. IT RESOLVED BY THE CITE` COUNCIL' n' '
,OF THE CITY OF CHULA VISTA, CALIFORNIA:
1. That all matters and things required by law
to be had. and taken by this Council, by the ' Contractor; by
• the Superintendent of Work, • the Engineer of Work, and all other '
persona by law required to ,perform any and all acts in gonnec-
tion with the said improvement, have been duly had, and taken ,
in manner and form and within,the time +by law required.
2. That all. protests or objections, both oral and
written, against the acceptance of the said work' and- the .
issuance of bondsatherefor •in the amount claimed by the Con=
tractor, be, and' the same are hereby overruled and denied.
3. That this Council is of the opinion and does
hereby find that the work has been completed and performed
according to the contract in a good and substantial manner,
and that the', same should be, and is 'hereby accepted.
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4. That the, amount,.of the •contract price for the
doing of the said. work and improvement is One Hundred and Ten
Thousand, Five Hundred and Fifty-eight Dollars and Fifty-two
• Cents ($110,558.52)0✓
5.' That , the. amount of the incidental expenses of
the improvement ,and of the proceedings therefor, and to be
paid by the Contractor is Nine Thousand, . Two Hundred and
Eighty Dollars and Seventy-nine cents (19,280.79 ). .
6. That the amount to ' be paid in cash by the City
of Chula Vista is Three Thousand Dollars ($3,000.00) . "'
7. That , the aggregate amount f or. whieh •bonds are
to be issued tq• the Contractor, . or , its assigns, 4019ne Hundred
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and Sixteen Thousand, Eight• Hund ed. and .Thirty-nine" Dollars'
and Thirty-one Vents 0116,839x311'
8. That bands be issued by the Qity .Treasurer. of
the City of Chula Vista, StB,te of Calif ornia, ' in accordance •
with the provisions of the "Acquisition and Improvement Act
of 1925," as amended, for the total sum of One Hundred and
Sixteen Thousand, Eight Hundredland Thirty-nine Dollars and
Thirty-one Cents. 0116,839.31).
9. That all of the bonds, except the last, shall
be in even multiples of one hundred. The last installment Shall
be for the balance of the total principal amount not provided to ,
be paid in the previous installments.
` 10. . That the said bonds shall be so issued that the
aggregate principal will be paid and 'diScharged within fifteen
' (35 ) years -after the date of issuance, approximately one-
eledenth (l/11.) part of said aggregate principal to be paid
annually, all in gold coin, and the first payment on th,ee' aggre-
gate principal of' t he bond's issued will be made five (b ) years
after the issuance thereof, ` and the last installment shall be
payable at the maturity of.the •bonds.
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s: 11. That. the interest• ori:xSaid bonds shall be seven
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per cent (7A) per annum, pay able ion the second &aye of January
and July of each :gdar next succeeding,one year after the date
of said"'bonds. a .:. •
,The said bonds shall be .dated as off° the Cate., of
this final order, and may be in form, and shall be in sub-
stance as follows , to-wit:
"ACQUISITION AND IMPROVEMENT
DISTRICT.BONl •'
Ao'quisition and Improvement
°Distriot No. lot the
City of Chula Vibta,
State of California.
$ • Bond 'No.
Series A.
Under and by virtue of an act of the legislature
of the State of California, known as the "Acquisition and
Improvement Act 'of 1925, " a amended, the City of Chula. Vista,
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State of California, will pay to the bearer, out of the.fund
hereinafter 4ebigaated, at the office of the treasurer of said
City) on this day of f, 19_-x, the Jam of
. . dollars in gold coin of the United States
of America; with interest thereon• in like gold coin at the
rate of ,seven per cent per annum, payable semi-annually, on
the second, day of. January .and the second day of July Soi each
year from the datb •hereof (except that the first interest
payment will be made, on the second day .of July next succeed-
. ing one year after the date of this bond and the last ,install-
ment of interest payment will be paid at the maturity of this
bond) upon the presentation and surrender, as:they respective-
ly become due, of the proper interest coupons hereto attached,
the first of which is for interestsfrom the date hereof to the
second day of July next succeeding one year after the date of
this bond, and the last for interest to the maturity hereof
4.
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from -t$e lae`is preceding date Of' interest payment.
This bony is issued finder sand in conformity with
the provisions of the above mentioned.'"Acquisition anti
Improvement Aot of 1925," as amended, and is one .of a series
of bonds i's;:aed to represent the expenses of certain public
improvements authorised by the provisions of said Act and
comprehended in the proceedings had for the, above named .
district. .It is hereby certified, recited and declared that
' all proceedings, sots and things, required by law precedent to
or in the issuance of this boil& have been regularly ha,d, done
and performed, and. this:bond is by law made •oonctusive:
evidence 'thereof. .
This bond is payable out of the °Acquisition and
Improvement District Wo. 1 of the City at Chula Vista Interest
and Sinking Ftt,I". exclusively, as the said fund appears upon .
the books of the Treasurer a said City, and neither said :.City
nor any officer thereof shall be ho) ezi, fort' its $aymezit other.e
wise; bat in accordance with the provisions of said Act' a
• .special assessment tax will be levied and collected upoh the'
lands in'said: dfstrict in an amount clearly sufficient to pay. \
the principal and interest , of said bonds as the same shall
become payable. -
In Witness Whereof, the City Council of the said
• City of Chula Vista has. paused this bond to be 'EURO. by the .
Treasurer of said City and the seal of the City Council of
said City to be hereto affixed this gel day of
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Treasurer of the
($eal of the City of Chula Vista,
City Council) State of California..
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Palmed and adopted by the said. City Council of
the City of Chula •Vista, California, this /2/4 day of June,
1928, by .the following vote, to-wit:
AYES: Councilmen det;rnil. Lciedt ettiAte., a470.444:
NOES: Councilmen 71.414-t
ABSENT: Councilmen
• Thate(- --k-0•---
,President of the city
Council of the City of
Chula Vista, California.
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I HEREBY CERTIFY, that the above and foregoing Reso-
lution was passed by the City Council Of the said City of
Chula Vista, •at the time and by the vote a eve toted.
tiF c.'; :;;
Gray Clerk of ihe
A , City of Chula yista, .
44\.‘
California, end ox
j'A VW, 1/41y a officio Clerk of :the
c. , City Council of the
City of Chula Vista.
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CROUCH & SANDERS
Attorneys in Charge of
Proceedings •
117. :SCRIVED
• FOR FILE
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