HomeMy WebLinkAboutReso 1970-5511• WJML : KIJ : mf 12/12/69• . 8C
RESOLUTION N0. 5511
A RESOLUTION DETERMINING THAT THERE IS A SURPLUS AND
THAT IT SHALL BE APPLIED AS A CREDIT TO ASSESSMENT
SWEETWATER VALLEY INDUSTRIAL PARK PROJECT N0. 60-1
RESOLVED, by the City Council of the City of Chula Vista,
San Diego County, California, that
WHEREAS, the City Engineer of the City of Chula. Vista has
advised this Council that all the acquisitions and improvements
described in Resolution of Intention No. 2+69, adopted by this
Council on June 21, 1860, as subsequently modified, have been
completed to his satisfaction and that there is a surplus in the
construction fund for said project of $52,948.70 ;
WHEREAS, Paragraph 15 of said Resolution of Intention pro-
vides that if any excess shall be realized from the assessment it
shall be spent for the maintenance of said acquisitions and
improvements unless the Council thereafter determines that said
amount or any part thereof shall be applied as a credit to each
assessment herein;
WHEREAS, it is in the public interest that the Council make
the determination therein set forth;
NOW, THEREFORE, IT IS ORDERED, as follows:
1. That it is hereby determined that there is a surplus in
the construction fund of said project after the completion of all
the acquisitions and improvements contemplated therein in the
amount of $ 52,948.70
2. That it is hereby determined that all of said amount
shall be applied as a credit to each assessment herein, after
deducting the cost of applying said credit.
3. That said credit shall be applied on the earliest unpaid
installment of principal and interest on each assessment in the
proportion that the original amount of each assessment bears to
the total original amount of said assessments.
Presented by
. i~
Gordon Grant, Finance Officer
Approved as to form by
George D. Lindberg, City Attorney
I hereby certify that the foregoing is a full, true and
correct copy of a resolution duly passed and adopted by the
City Council of the City of Chula Vista, California, at a meet-
ing thereof held on the 20th day of January ,
1970 , by the following vote of the members thereof:
AYES, and in favor thereof, Councilmen:
McAllister, Scott, Sylvester, Hamilton, Hyde
NOES, Councilmen : None
ASSENT, Councilmen: None
APPROVED:
ayor
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