HomeMy WebLinkAboutReso 1994-17364 RESOLUTION NO. 17364
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA MAKING DECLARATION REGARDING
SURPLUS IN THE IMPROVEMENT FUND FOR EASTLAKE
ASSESSMENT DISTRICT 88-1 (OTAY LAKES ROAD,
PHASE I)
WHEREAS, the City has conducted proceedings and completed construction of
Assessment District 88-1 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 utilize the remaining surplus in the Improvement 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 9123,000 in surplus monies in the
Improvement Fund (Fund 609) for Assessment District 88-1 be used to call bonds.
Presented by Approve~ as t~7 foil by ..
Resolution No. 17364
Page 2
PASSED, APPROVED and ADOPTED by the City Council of the City of Chula
Vista, California, this 11 th day of January, 1994, by the following vote:
YES: Councilmembers: Fox, Horton, Rindone, Nader
NOES: Councilmembers: None
ABSENT: Councilmembers: Moore
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. 17364 was duly passed, approved, and
adopted by the City Council at a meeting of the Chula Vista City Council held on the
18th day of January, 1994.
Executed this 18th day of January, 1994.
o
Beverly//~. Authelet, City Clerk