Resolution Number 79-6-20-7395
RESOLUTION NO. 79-6-20-7
ACCEPTING BID ON BONDS - ASSESSMENT DISTRICT NO. 78-2
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN
JUAN CAPISTRANO, CALIFORNIA, ACCEPTING PROPOSAL FOR
THE SALE OF BONDS AND PROVIDING FOR THE ESTABLISH-
MENT OF A REDEMPTION FUND FOR THE PAYMENT OF SAID
BONDS
WHEREAS, this City Council has heretofore instituted and conducted
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 improve-
ments, together with appurtenances, in a special assessment district
known and designated as
ASSESSMENT DISTRICT NO. 78-2
[CAMINO CAPISTRANO)
(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) 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 the City
Council, considered to be the bid which will best serve the in-
terests 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 proposal of GIBRALCO, INC.,
dated the 4th day of JUNE 1979 f
is hereby accepted and approved for the purchase
of the improvement bonds for the works of improve-
ment, together with appurtenances, in the Assess-
ment District.
397
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
authorized and directed to receive all payments made
upon 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
disburse such funds upon presentation of proper coupons.
Under no circumstances shall the said bonds or interest
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. 78-2"
SECTION 5. That bonds be issued representing unpaid assessments
against private property in accordance with the pro-
visions 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
appurtenances 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 the 2nd day of August 1979 or the 31st
day after recordation of the assessment in the Office
of the Street Superintendent, whichever date is later.
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 Highways
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 20th day of June , 1979
AT EST:
CITY CLE C
CITY OF AN JUAN CAPISTRANO
STATE OF CALIFORNIA
-2-
/IA(—R-e
CITY OF SAN JUAN CAPISTRANO
STATE OF CALIFORNIA
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_ 79-6-20-7 was duly
passed, approved and adopted by said City Council, approved
and signed by the Mayor, and attested by the City Clerk,
all at a regular meeting of said City Council held
on the 20th day of June 1979 , and that the
same was passed and adopted by the following vote, to -wit:
AYES: COUNCIL MEMBERS: Schwartze, Thorpe, Buchheim
Mayor Friess
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: Hausdorfer
Executed this 20th day of June, 1979 , at SAN
JUAN CAPISTRANO ,California_
(SEAL) ����( ,
CITY CLE
CITY OF SAN JUAN CAPISTRANO
STATE OF CALIFORNIA
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss. AFFIDAVIT OF POSTING
CITY OF SAN JUAN CAPISTRANO )
MARY ANN HANOVER, being first duly sworn, deposes
and says:
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 22nd day of June 1979 ,
she caused to be posted:
RESOLUTION NO. 79-6-20-7
being: ACCEPTING BID ON BONDS - ASSESSMENT DISTRICT NO. 78-2
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.
1�IPRY ANS OVER, City le
San Juan istrano, California
Cap
CHECK LIST
ORD. NO_.._.... RES. NO......---..
.. 6::�,_. Mayor has signed
.......... --- Clerk has signed
......✓ City Seal stamped
...... All blanks typed in
"Absent" ........------...._...-----..._...___..._.
"Noes" .......... ............---..............----------
.............. Typed in Official Record Book
...... . Posted to Classi ' d off
----...-... Copies sent to -.....-(..-5..- 7�..
-/-j*�)
..__....._- Legal Publication ordered to be published
(date)....... _... ---------- .----------------------- ..._--------
No. Affidavits ....... -------- ----------- ---------- ...........
No. Printed copies required __-7_._.._.----..
Remarks
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