HomeMy WebLinkAboutReso 1992-16640 NOT APPROVED
RESOLUTION NO. 16640
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA APPROVING TRANSFER OF FUNDS TO ASSESSMENT DISTRICT
NO. 90-2 (OTAY VALLEY ROAD)
WHEREAS, on April 21, 1992, Council adopted the Resolution of Intention to
construct and finance certain public improvements to Otay Valley Road, east of
1-805, pursuant to the Municipal Improvement of 1913; and,
WHEREAS, the estimated total cost of the Otay Valley Road project (Phase
I &II) is $13,841,700; and,
WHEREAS, it is proposed that the City and Redevelopment Agency contribute
$3,435,467; and,
WHEREAS, the City shall be reimbursed by SB 300 funds upon completion of
construction; and,
WHEREAS, the City needs to loan $1,161,000 to the district prior to project
completion.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Chula
Vista does hereby authorize the transfer of $1,161,000 from Sewer Fund 222 to
Account 996-9960-ST123 for Assessment District No. 90-2 (Otay Valley Road), which
amount shall be reimbursed by SB 300 funds upon completion of construction.
Presented by Approved as to form by
John P. Lippitt Bruce M. Boogaard
Director of Public Works City Attorney
Resolution No. 16640
Pa9e 2
NOT PASSED, APPROVED and ADOPTED by the City Council of the City of Chula
Vista, California, this 23rd day of June, 1992, by the followin9 vote:
YES: Councilmembers: Grasser Horton, Moore, Rindone
NOES: Councilmembers: None
ABSENT: Councilmembers: Malcolm, Nader
ABSTAIN: Councilmembers: None
Jerry R. Rindone
Mayor, Pro-Tempore
ATTEST:
Beverly A. Authelet, City Clerk