1978 RES NO. 3839 - Laserfiche WebLink

Browse Search

RESOLUTION NO. 3839 RESOLUTION OF THE CITY COUNCIL DETERMINING UNPAID ASSESSMENTS AND ISSUING BONDS UNDER THE "IMPROVEMENT ACT OF 1911tP CITY OF COLTON WHEREAS, this City Council has heretofore taken and conducted proceedings under 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, for the construction of certain public works of improvement,. together with appurte- nances in a special assessment district, said special assessment district known and designated as ASSESSMENT DISTRICT NO. 78-1 [MT. VERNON AVENUE AND COOLEY DRIVE, PHASE I I T (hereinafter referred to as the "Assessment District"); and, WHEREAS, said proceedings for the above referenced Assessment District expressly provided for the issuance of bonds pursuant to the terms -and provisions of the "Improvement Act of 1911", being Division 7 of the Streets and. Highways Code of the State of California;; and, WHEREAS, the assessment�and,diagram for said proceedings has been recorded in the Office of the Superintendent of Streets as required by last, and a notice of.assessment and assessment diagram have been filed and recorded in the Office of the County Recorder; and, WHEREAS, following the 'lapse of 30 days after the date of recording of. said assessment -in the Office of said Superintendent of Streets, the City Treasurer has prepared and certified a complete list of all paid and unpaid assessments relating to said Assessment District. NOW, THEREFORE, IT IS HEREBY RESOLVED 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 the unpaid assessments as certified on the paid and unpaid list, a copy -of' which is on -file in the - Office of the City Treasurer,.is hereby approved and ratified as to the list setting forth all unpaid assessments for said Assessment District. SECTION 3. That bonds, pursuant to the terms and provisions of the "Improvement Act of 1911", shall be issued at this time to represent all unpaid assessments and said bonds shall bear interest at the rate as pre- viously approved by this City Council upon the acceptance of the proposal for the sale of bonds. The bonds shall be signed by the City Treasurer of said City and the coupons affixed to said bonds may be signed by said City Treasurer by an engraved, printed, or lithographed signature.