Resolution Number 80-1-23-12233
RESOLUTION NO.
80-1-23-12
ACCEPTING PROPOSAL - ASSESSMENT DISTRICT NO. 78-1
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SAN JUAN CAPISTRANO, CALIFORNIA ACCEPTING PROPOSAL
FOR THE SALE OF BONDS AND PROVIDING FOR THE
ESTABLISHMENT OF A REDEMPTION FUND FOR THE PAYMENT
OF SAID BONDS.
WHEREAS, this City Council has heretofore instituted and conduct-
ed proceedings under the provisions of the "Municipal Improvement
Act of 1913," being Division 12 of the Streets and Highways Code
of the State of California, for the construction of certain public
improvements, together with appurtenances, in a special assessment
district known and designated as
ASSESSMENT DISTRICT NO. 78-1
[CADiINO CAPISTRANO SOUTH]
(hereinafter referred to as the "Assessment District"); and
WHEREAS, said City Council in its Resolution of Intention therein
determined and declared that bonds should be issued under the pro-
visions of the "Improvement Act of 1911," being Division 7 of the
Streets and Highways Code of the State of California, for each un-
paid assessment or portion thereof in the amount of One Hundred
Fifty Dollars ($150.00) or more, to finance said improvements; and
WHEREAS, the City Council has now received, in the manner and form
as prescribed by law, a proposal for the purchase of said bonds
in said Assessment District; and
WHEREAS, the proposal received is, in the opinion of this City
Council, considered to be the bid which will best serve the inter-
ests of owners of land within the Assessment District and should
be accepted by this Council.
NOW, THEREFORE, IT IS HEREBY RESOLVED BY THE CITY COUNCIL OF THE
CITY OF SAN JUAN CAPISTRANO
CALIFORNIA, AS FOLLOWS:
SECTION 1. That the above recitals are all true and correct.
SECTION 2. That the written bond bid proposal received from
YOUNG AND STONEBERG INVESTMENT SECURITIES
dated the 14th day of January, 1980 , is hereby
accepted and approved for the purchase of the improve-
ment bonds for the works of improvement, together
with appurtenances, in the Assessment District.
SECTION 3. That the City Treasurer, or appointed paying agent,
in accordance with the provisions of Part 5 of Division
7 of the Streets and Highways Code, is hereby author-
ized and directed to receive all payments made upon
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said bonds and assessments by property owners in a
fund designated by the name of the proceedings, into
which he shall place all sums paid for the principal
of the bonds and the interest thereon, together with
all penalties thereon, and from which he shall dis-
burse such funds upon presentation of proper coupons.
Under no circumstances shall the said bonds or inter-
est thereon be paid out of any other fund except as
provided by law.
SECTION 4. That said fund shall be designated as
"IMPROVEMENT FUND FOR ASSESSMENT
DISTRICT NO. 78-1"
SECTION 5. That bonds be issued representing unpaid assessments
against private property in accordance with the provi-
sions of Division 12 of the Streets and Highways Code,
and Division 7 of said Code, for the purpose of paying
the costs of the improvements, together with appurt-
enances and incidental expenses.
SECTION 6. That said bonds shall be issued for all unpaid assess-
ments or portions thereof which amount to One Hundred
Fifty Dollars ($150.00) or more, and shall be in the
respective amounts as set forth in the assessment as
confirmed for said Assessment District. Said bonds
shall be dated as follows:
35th day after the recordation of the assessment
in the Office of the Superintendent of Streets.
Said bonds and the coupons thereof shall be issued
substantially in the form authorized for the issuance
of the bonds under Division 7 of the Streets and High-
ways Code of the State of California. These bonds
shall be serial bonds and shall extend over a period
ending NINE (9) years from the 2nd day of
January next succeeding the next September 1st following
their date, until the whole is paid, and the interest
shall be payable semi-annually, by coupon, on the
2nd days of January and July, respectively, of each
year following the date of the bonds.
SECTION 7. That the interest rate on said bonds shall be the same
as set forth in the accepted bid proposal as submitted
by the successful bidder previously mentioned herein.
APPROVED and ADOPTED this
23rd day of January, 1980
KENNETH E. FRIESS, MAYOR
CITY OF SAN JUAN CAPISTRANO
ATTEST: STATE OF CALIFORNIA
7
C TY CLERK
CITY OF 4KAN JUAN CAPISTRANO
STATE OF CALIFORNIA
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237
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF SAN JUAN CAPISTRANO )
I, MARY ANN HANOVER, City Clerk of the CITY OF SAN JUAN
CAPISTRANO, CALIFORNIA, DO HEREBY CERTIFY that the fore-
going Resolution, being Resolution No. 80-1-23-12was duly
passed, approved and adopted by said City Council, approved
and signed by the Mayor, and attested by the City Clerk,
all at a adjourned regularmeeting of said City Council held
on the 2-ira day of January, 1980 , and that the
same was passed and adopted by the ollowing vote, to -wit:
AYES: COUNCIL MEMBERS: Hausdorfer, Schwartze,
Thorpe, Buchheim and Mayor Friess
NOES: COUNCIL. MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
Executed this 23rd day of
JUAN CAPISTRANO, Cal fornia.
January, 1980 , at SAN
(SEAL)
CITY CLE
CITY OF AN JUAN CAPISTRANO
STATE OF CALIFORNIA
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238
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF SAN JUAN CAPISTRANO )
and says:
AFFIDAVIT OF POSTING
MARY ANN HANOVER, being first duly sworn, deposes
That she is the duly appointed and qualified City
Clerk of the City of San Juan Capistrano;
That in compliance with State laws of the State of
California and in further compliance with City Resolution
No. 79-2-21-7 and on the 25th day of January 1980 ,
she caused to be posted:
RESOLUTION NO. 80-1-23-12
being: ACCEPTING PROPOSAL - ASSESSMENT DISTRICT NO. 78-1
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN JUAN
CAPISTRANO, CALIFORNIA, ACCEPTING PROPOSAL FOR THE SALE
OF BONDS AND PROVIDING FOR THE ESTABLISHMENT OF A
REDEMPTION FUND FOR THE PAYMENT OF SAID BONDS
in three (3) public places in the City of San Juan Capistrano,
to wit:
The Administration Building;
The San Juan Hot Springs Dance Hall;
The Orange County Public Library.
CHECK LIST Fo—/ 23 _� y
ORD. NO...._.----- RES. NO............
......Z.- Mayor has signed
..._..:/... Clerk has signed
..__.......amity Seal stamped
All blanks typed in -�
,.Absent" ------_ ............._......_...--_.........
.,Noes ...................
...__.........Ct......_......---.........------....
......._.... Typed in Official Record Book
..... ........ Posted to Classifjyd Card ( n
............. Copies sent to...f OST..%'.? .j. h.ce_ 7%..eu..i
.........---------------------------------------
.............. Legal Publication ordered to be published
(date) --- _......__----------------....----
No. Affidavits --- ---------------- ------------------ -----
No. Printed copies required ........I --- ...........
Remarks
�3 ti
—4—
MARY ANWHbNOVER, City Clen, CC
San Juan Capistrano, California