HomeMy WebLinkAboutReso 1992-16474 RESOLUTION NO. 16474
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA MAKING DECLARATION REGARDING SURPLUS IN THE
IMPROVEMENT FUND FOR EASTLAKE ASSESSMENT DISTRICT 85-2
WHEREAS, the City has conducted proceedings and completed construction of
Assessment District 85-2 improvements pursuant to the terms and provisions of the
Municipal Improvement Act of 1913; and,
WHEREAS, now that all improvements and payments of all claims are
completed, the City needs to dispose of the remaining surplus in the fund in
accordance with Section 10427.1 of the Streets and Highways Code; and,
WHEREAS, pursuant to the terms and provisions of the Municipal Improvement
Act of 1913, all surplus monies remaining in the Improvement Fund at this time
shall be applied as a credit to properties within the boundaries of the
assessment district or alternately used to call bonds; and,
WHEREAS, staff recommends that bonds be called because this is a simpler
administrative task.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Chula
Vista does hereby declare that approximately $1,350,000 in surplus monies in the
improvement fund for EastLake Assessment District 85-2 be used to call bonds.
Presented by 2~e~as to for~
Resolution No. 16474
Page 2
PASSED, APPROVED and ADOPTED by the City Council of the City of Chula
Vista, California, this 21st day of January, 1992, by the following vote:
YES: Councilmembers: Grasser Horton, Malcolm, Moore, Nader
Rindone
NOES: Councilmember: None
ABSENT: Councilmembers: None
ABSTAIN: Councilmembers: None
Tim Nader, Mayor
ATTEST:
Beverly A.'Authelet, City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO ) ss.
CITY OF CHULA VISTA )
I, Beverly A. Authelet, City Clerk of the City of Chula Vista, California, do
hereby certify that the foregoing Resolution No. 16474 was duly passed, approved,
and adopted by the City Council held on the 21st day of January, 1992.
Executed this 21st day of January, 1992.
Beverly A/. Authelet, City Clerk