HomeMy WebLinkAboutAgenda Statement 1974/03/26 Item 11
AG~NDA I!EM NO. [ 11 ]
CHULA VISTA CITY COUNCIL MEETING OF: March 26, 1974
ITEM TITLE: Resolution - Approving the City Engineer's Recommendation
Regarding Repayment of Sewer Facilities in the 700 Block of
Hilltop Drive
INITIATED BY: Director of Public Works/City Engine~
BACKGROUND
Sewer facilities, including a gravity sewer main in the 700 block of
Hilltop Drive have recently been completed. The project was financed
in part by direct cash participation by certain of the benefiting property
owners, and in part through an advance of City funds.
An agreement between the City and the property owners (approved as
Resolution No. 7000) stipulated the manner in which the cost of the
project was to be divided among the benefiting property owners.
The City Engineer has now prepared his formal recommendation regarding
the method of repayment to the City of funds advanced in behalf of
non-participating property owners. The recommendation includes imposition
of simple 4% interest to a maximum of ten years commencing April 1, 1974.
This recommendation is submitted by the City Engineer for approval by
the City Council in accordance with Section 26.403(b} of the City Code.
A transparency is available for Council viewing.
ATIACHED:
Resolution [X]
Ordinance [ ]
Agreement [ ]
Plat [ ]
See EXHIBITS [X] No. 1~2
Financial Statement:
City funds in the amount of $3,161 have been advanced for this con-
struction. Reimbursement will be secured (plus interest) at time of
connection by each of four now unconnected properties.
Commission-Board Recommendation:
N.A.
~artment Head Recommendation:
Recommends approval.
City Manager Recommendation:
Concur
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