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362
<br />WHEREAS, the contract for said work and improvement's was duly awarded
<br />and thereafter duly completed to the satisfaction of the Street Super-
<br />intendent and Council of said City of Redwood City, whereupon an assess-
<br />ment and warrant were made, recorded and delivered to the contractor in
<br />time, form and manner = required by 'said Acts, and the contractor having
<br />made due return thereon, and the same having been duly recorded; and
<br />WHEREAS, on the 13th day of January, 1931, the Street Superintendent
<br />of the City of Redwood City made and filed with the City Clerk of said
<br />City a complete list of assessments unpaid thereunder upon the respeotive
<br />assessment numbers thereon, whereupon said City Clerk gave notice of the
<br />filing of said unpaid list and fixed in said notice Monday the -2nd day-'
<br />of February, 1931, at the hour of 7:30 o'clock P.M.•at the meeting place
<br />of the Council of the City of Redwood City, in the Council Chamber in the
<br />City Ball on Webster Street in said City, as the time and place when
<br />interested persons might appear before said City Council and show cause
<br />why bonds should not be issued upon the security of the unpaid assess=
<br />ments shown on said list, said time being that of this regular meeting of
<br />said Council; and said Council having heard all objections and passed
<br />upon the,same, it is hereby determined that the assessments unpaid
<br />thereunder and the aggregate amount of the same are as follows:
<br />Diagram and Assessment Number Amount
<br />2
<br />34,84
<br />3'
<br />17,76
<br />15
<br />109.85
<br />16
<br />187.70
<br />19
<br />187:70
<br />20
<br />142.22
<br />37
<br />3:48
<br />38
<br />17.41
<br />That the total aggregate amount of said assessments unpaid is
<br />the sum of Seven Hundred Dollars and Ninety -Six cents ($700.96)
<br />Therefore, in consideration of the promises, the Council of the
<br />City of Redwood City does order as follows, to -wit:
<br />SECTION 1. That bonds shall be issued upon the security of the
<br />unpaid assessments to the amount of Seven Hundred Dollars and Ninety Cents
<br />(*700,90) in accordance with the provisions of the "Improvement Bond Act
<br />of 1915" of the State of California, as amended and now in effect, and
<br />under and pursuant to the resolutions, notices and proceedings of said
<br />Council of the City of Redwood City duly adopted and taken; said bonds
<br />shall be called "Improvement Bonds", shall be 10 in number, shall be
<br />dated February 2, 1931, and shall bear interest at the rate of seven per-
<br />cent per annum from the 13th day of January, 1931, and the denomination
<br />of said bonds and of the interest 'coupons required to be attached'thereto,'
<br />with their respective numbers and dates of maturity, are as follows, to -wit:
<br />Series
<br />Number
<br />Number
<br />of Bond.
<br />Denomination
<br />Date of Maturity.
<br />M-8
<br />1
<br />70.09
<br />July
<br />2,
<br />1932
<br />M-8
<br />2
<br />70,09
<br />auly
<br />2,
<br />1933
<br />M-8
<br />3
<br />70,09
<br />:July
<br />22
<br />1934
<br />M-8
<br />4
<br />70.09
<br />July
<br />2,
<br />1935
<br />M-8
<br />5
<br />70.09
<br />July
<br />2,
<br />1936
<br />M-8
<br />6
<br />70.09
<br />July
<br />2,
<br />1937
<br />M-8
<br />7
<br />70.09
<br />July
<br />2,
<br />1938
<br />M-8
<br />8
<br />70;09
<br />July
<br />2,
<br />1939
<br />M-8
<br />9
<br />70,09
<br />July
<br />2,
<br />1940
<br />M-8
<br />10
<br />70.09
<br />July
<br />2,
<br />1941
<br />AND BE IT FURTHER ORDERED that with respect to said bond's having
<br />a denomination of $70.09 the first interest coupon to become due and
<br />payable thereon shall be of the denomination of $4.74 and that each of
<br />the other interest coupons attached thereto and which will become payable
<br />thereafter shall be of the denomination of $2.45.
<br />SECTION 2. Said bonds shall be.issued in series, and the unpaid"
<br />assessments, as shown on said list filed by the Superintendent of Streets
<br />and determined by the City Council of the City of Redwood City, together
<br />with the interest thereon, shall remain and constitute a trust fund for
<br />the redemption and payment of said bonds and the interest to become due
<br />thereon, which unpaid assessments shall be payable in annual series
<br />corresponding in number to the number of series of bonds issued, and an
<br />even annual proportion of each assessment shall be payable in -each year `
<br />preceding the date of the maturity of each of the several series of bonds
<br />issued, and such proportion of each assessment coming due in any year,
<br />.together with the annual interest thereon, shall in turn be payable in
<br />installments as the general taxes of the City on real property are pay-
<br />�I�
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