1978 ORD NO. 1537 - Laserfiche WebLink

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r a ORDINANCE NO. 1537 ORDINANCE OF THE CITY OF COLTON, CALIFORNIA, PROVIDING FOR CONTRIBUTION FUNDS TO APPLY AS CREDITS UPON LEVIED ASSESSMENTS IN CERTAIN. SPECIAL ASSESSMENT DISTRICTS. WHEREAS, the City of Colton has completed proceedings and confirmed as in a special assessment district known.a.nd designated as ASSESSMENT DISTRICT NO. 76-1 [COOLEY DRIVE] and at this time is considering the formation of a special assessment district to be known and designated as ASSESSMENT DISTRICT NO. 78-1 [MOUNT VERNON AVENUE AND COOLEY DRIVE, PHASE II] for the construction of certain public improvements, together with appurtenances and appurtenant work in connection therewith, pur suant to the terms and provisions of the "Municipal Improvement Act of 1913", being Division 12 of the Streets and Highways Code of the State of California, said assessment districts to be hereinafter- de- signated as the "Assessment Districts"; and, WHEREAS, this City Council is.desirous of making available as a cash contribution to the proceedings for the Assessment Districts, certain monies received and pledged from the Redevelopment Agency for the City of Colton for the project known as REDEVELOPMENT AGENCY PROJECT IV (hereinafter referred to as the "Project"), as said monies are made available from said Project to the City by reason of a contractual obligation between the City of Colton and the Redevelopment Agency for said City of Colton. NOW, THEREFORE,IT IS HEREBY ORDAINED BY THE CITY COUNCIL OF THE CITY OF COLTON, CALIFORNIA, AS FOLLOWS: SECTION 1. That the above recitals are all true and correct. SECTION 2. That all 'monies received from the Redevelopment Agency for ;the City of Colton, pursuant to a contract between the City of Colton and the Re- development Agency for the City of Colton, said contract dated the 21st day of March, 1978 shall be applied as—a contribution to the above referenced Assessment Districts, and said monies shall be used to pay for certain costs and ex- penses of the proceedings or applied as a credit upon all levied assessments in the manner and form as provided in Section 10427.1 of the Streets and Highways Code of the State of California.