Resolution No. 4900.36'
RESOLUTION NO. 4900
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF CYPRESS, CALIFORNIA, DETERMINING UNPAID
ASSESSMENTS IN THE CYPRESS BUSINESS AND
PROFESSIONAL CENTER ASSESSMENT DISTRICT NO.
1 AND THE MANNER OF PAYMENT THEREOF AND
LISTING BONDS ISSUED ON THE SECURITY
THEREOF
WHEREAS, this Council has taken proceedings under the Municipal Improvement Act
of 1913, Division 12 of the Streets and Highways Code (the "Code"), and has confirmed an
assessment which was recorded on the 29th day of January, 1998, in the office of the
Superintendent of Streets, and the Assessment Diagram and Notice of Assessment which were
recorded in the office of the County Recorder of Orange County on the 29th day of January, 1998;
and
WHEREAS, the proceedings provided that bonds would be issued pursuant to the
Improvement Bond Act of 1915, Division 10 of the Code (the "Bonds "); and
WHEREAS, a list of unpaid assessments has been filed with the City Clerk pursuant to
Section 8620 of the Code, following the expiration, by unanimous consent of the property owners,
of the cash collection period on January 30, 1998; and
WHEREAS, this Council has, pursuant to Section 8650.1 of the Code, established the
denomination of the Bonds and the amounts to mature each year which is other and different than
that provided in Section 8650 of the Code; and
WHEREAS, the Bonds are to be a combination of serial bonds numbered in consecutive
numerical order. The Bonds are to be dated the date of their delivery. The first payment of interest
is payable on September 2, 1998, and thereafter the interest is payable semi - annually on September
2 and March 2 of each year. The bonds shall mature on September 2 in the amounts and years and
bear interest from their dates at the rates to be established in the purchase contract for the Bonds.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF CYPRESS DOES
HEREBY RESOLVE, DETERMINE, AND ORDER AS FOLLOWS:
SECTION 1. The unpaid assessments which provide the security for the Bonds which
are to be issued are determined to be as set forth in the recitals hereof.
SECTION 2. The unpaid assessments securing the Bonds shall be payable in the manner
provided in Section 8680 et se q. of the Code and shall be payable in the same manner and at the
same time and in the same installments as the general taxes of the City on real property are payable.
Pursuant to Section 8682 of the Code, a certified copy of this resolution and a copy of the list of
unpaid assessments shall be filed by the City Clerk and the office of the Auditor /Controller of
Orange County, California. The County Auditor shall enter in his assessment roll on which taxes
will next become due the amount coming due during the fiscal year covered by the applicable
assessment roll pursuant to said Section 8682.
PASSED AND ADOPTED by the City Council of the City of Cypress at a regular
meeting held on the 26th day of January, 1998.
MA OR 1 T •17CITY OF CYPRESS
ATTEST:
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367
CITY CLERK OF THE CITY OF CYPRESS
STATE OF CALIFORNIA
COUNTY OF ORANGE
) SS
I, LILLIAN M. HAINA, City Clerk for the City of Cypress, DO HEREBY CERTIFY that
the foregoing Resolution was duly adopted at a regular meeting of the said City Council held on the
26th day of January, 1998, by the following roll call vote:
AYES: 5 COUNCIL MEMBERS: Bowman, Carroll, Keenan, Piercy and Jones
NOES: 0 COUNCIL MEMBERS: None
ABSENT: 0 COUNCIL MEMBERS: None
CITY CLERK OF THE CITY OF CYPRESS