HomeMy WebLinkAboutReso 2006-309
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RESOLUTION NO. 2006-309
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA ACCEPTING THE DEFERRAL OF
ASSESSMENTS AND ESTABLISHING THE RATE OF
INTEREST OF FIVE PERCENT PER YEAR AND THE
FINANCING PERIOD OF A MAXIMUM OF TEN YEARS
APPLIED TO THE DEFERRALS FOR ASSESSMENT
DISTRICT 2005-1 (TOBIAS DRIVE)
WHEREAS, pursuant to Resolutions 2005-255, 2005-256, and 2005-257 adopted on July
19, 2005, the City Council accepted a petition requesting the formation of an Assessment District
for Tobias Drive (Naples Street to Oxford Street) for the purpose of financing the construction of
sidewalk improvements, approved the Preliminary Engineer's Report, ordered the installation of
improvements on Tobias Drive, set the time and place for a public hearing, ordered the initiation
of Assessment Ballot proceedings, and adopted a map showing the proposed boundaries for
Assessment District No. 2005-1 (Tobias Drive); and
WHEREAS, pursuant to Resolution 2005-313, adopted on July 19, 2005, the City
Council ordered the construction of the improvements and ordered a final assessment Engineer's
Report to be prepared; and
WHEREAS, City staff advertised and obtained sealed bids as part of a formal bidding
process for the construction of the improvements and awarded a contract in the amount of
$666,910 to the low bidder, Jimenez Inc., DBA MJC Construction, pursuant to Resolution No.
2006-071 on March 7, 2006; and
WHEREAS, the construction of the improvements is complete; and
WHEREAS, of the total construction costs, only the costs of the concrete driveways and
private improvement relocation, are to be assessed to the property owners; and
WHEREAS, not all the assessments have been fully paid, and the City can collect the
unpaid balance over a maximum period of ten years, together with interest on the unpaid
principal at a rate not to exceed seven percent per year; and
WHEREAS, City staff proposes to charge five percent interest for a period of ten years
on the unpaid balances of the assessments.
Resolution No. 2006-309
Page 2
NOW THEREFORE, BE IT RESOLVED by the City Council of the City ofChula Vista ,-"
that it accepts the deferral of the assessments and establishes the rate of interest of five percent
per year and financing period of a maximum of ten years applied to the deferrals for Assessment
District 2005-1 (Tobias Drive).
Presented by
Approved as to form by
~\lC1~~~r~I:~\
Ann Moore '
City Attorney
PASSED, APPROVED, and ADOPTED by the City Council of the City ofChula Vista,
California, this 17th day of October 2006 by the following vote:
AYES:
Councilmembers:
Chavez, McCann, and Padilla
NAYS:
Councilmembers:
None
ABSENT:
Councilmembers:
Castaneda, Rindone
ATTEST:
/l.~L'
Stephen . Padilla, Mayor
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Susan Bigelow, MMC, City C rk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Susan Bigelow, City Clerk of Chula Vista, California, do hereby certifY that the foregoing
Resolution No. 2006-309 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the 17th day of October 2006.
Executed this 17th day of October 2006.
-~JJ~~~
Susan Bigelow, MMC, City CI k
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