HomeMy WebLinkAbout1986-06-10; City Council; Resolution 8604I
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I WHEREAS, notice of th:e recordation of the assessment and of
RESOLUTION NO. 8604
RESOLUTION OF THE CITY couNcrL OF
THE CITY OF CARLSBAD, CALIFORNIA,
DETERMINING UNPAID ASSESSMENTS IN
A SPECIAL ASSESSMENT DISTRICT
WHEREAS, the CITY COUNCIL of the CITY OF CARLSBAD, CALIFORNIA
has heretofore undertaken proceedings pursuant to the "Municipal
Improvement Act of 1913", being Division 12 of the Streets and
Highways Code of the Sta'te of California, and has confirmed
assessments upon lands within a special assessment district
described in a Resolution olf Intention previously adopted for said
improvements, said spec1 a1 assessment District known and
designated as
ASSESSMENT DISTRICT NO. 85-2
(COLhEGE BOULEVARD)
(hereinafter referred to as the nAssessment District"); and,
WHEREAS, said proceedings provided for the issuance of bonds
pursuant to the "Improvement Bond Act of 1915", being Division 10
of the Streets and Hiqhways Code of the State of California, and
it is necessary to establish terms and provisions of such
issuance; and,
the time within which assessments may be paid in cash has been
duly published and mailed 'in the manner provided by law, and the
time so provided for receiving payment of assessments in cash has
expired, and there has been filed a list of all assessments which
now remain unpaid; and,
WHEREAS, following the elapse of thirty (30) days after the
date of recording of said ,assessment, a complete list of paid and
a
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unpaid assessments has been prepared and filed with the Treasurer;
and ,
WHEREAS, it is desired, pursuant to Section 8650.1 of the
Streets and Highways Code, to establish the amounts to mature on
the bonds to represent unpaid assessments on private property and
the amount to mature each year which will be other and different
than that as provided in Section 8650 of said Code; and,
NOW, THEREFORE, IT IS HEREBY RESOLVED AS FOLLOWS:
SECTION 1. That the above recitals are all true and correct.
SECTION 2. Unpaid As,sessments. That the assessments now
remaining unpaid, and the aqgregate thereof, are as shown on a
list entitled "Paid and U'npaid Assessments", referenced by the
name of this Assessment District, a copy of which is on file in
the Office of the Treasurer and by reference made a part hereof.
SECTION 3. Parcel Descriptions. That for a particular
description of the lots or parcels of land hearing the respective
assessment numbers set forth in said Unpaid List and upon which
assessments remain unpaid, reference is hereby made to the assess-
ment and to the diaqram recorded in the Office of the Superinten-
dent of Streets.
SECTION 4. Issuance of Bonds. The Unpaid List is in the
amount of $9,570,250.00, and bonds shall be issued in said amount
and upon the security of said unpaid assessments in accordance
with the provisions of the "Improvement Bond Act of 1915", and
under and pursuant to the provisions of said Resolution of
Intention and Resolution Authorizing the Issuance of Bonds, and
all other proceedings thereunder duly had and taken.
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i SECTION 5. Maturity. The bonds shall be issued in serial
~ form with annual maturities on September 2nd of every year
succeeding the first twelve (12) months from their date, until the
whole is paid. The amount maturing each year shall be such as to
result in approximately equal annual debt service during the term
of the issue as reflected by the interest rates and principal
amounts maturing in years of maturity as follows:
MATURITY YEAR
1987
1988 1989 1890 1991 1992 1993 1994 1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
PRINCIPAL MATURING SEPTEMBER 2ND
$ 20,250.00
245,000.00 260,000.00 280,000.00 300,000.00 320,000.00 345,000.00
370,000.00 395,000.00 425,000.00 460,000.00 495,000.00 530,000.00
575,000.00
620,000.00
670,000.00
725,000.00
780,000.00
845,000.00
910,000.00
INTETEST RATE
5.. 75%
6.25%
6.75%
7.00%
7.10%
7.25%
7.40%
7.50%
7.60%
7.70%
7.75%
7.80%
7.90%
7.90% 8.00% 8.00% 8.00% 8.00% 8.00% 8.00%
SECTION 6. Date of Bonds. Bonds for this Assessment
District shall carry the date of May 5, 1986.
u
SECTION 7. Terms and Conditions of Bonds. For all other
particulars relating to the terms and conditions of said bonds,
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reference is hereby made to the previously adopted Resolution
Authorizing and Providing for the Issuance of Bonds, a copy of
which is on file with the transcript of these proceedings, and
open to public inspection.
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PASSED, APPROVED and ADOPTED at a regular meeting of the City
Council held on the 10th . da.y of June 1986, by the
following vote, to wit:
AYES: Council Members Casler, Lewis, Kulchin, Chick and Pettine
NOES: None
ATTEST:
(SEAL)
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