HomeMy WebLinkAboutReso 95-263 - Declaring Surplus & Directing Disposition Thereof (Shasta View Ext. Assessment Dist No 1990-2) ,
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RESOLUTION NO. 95-263
RESOLUTION DECLARING SURPLUS AND
DIRECTING DISPOSITION THEREOF
(Shasta View Extension Assessment District No. 1990-2)
The City Council of the City of Redding resolves:
Section 1. Recitals.
a. ) The Director of Public Works has advised this
Council that (i) all of the authorized work and improvements of
this assessment district have been completed, (ii) a Notice of
Completion with respect to said work and improvements has been
filed in the office of the Shasta County Recorder, (iii) all
claims upon each of the two Improvement Funds have been paid, and
(iv) a balance remains in said Improvement Funds as surplus, as
follows:
(1) in the Improvement Fund established for
the Series A Bonds, $13 , 867 . 39 ; and
(2) in the Improvement Fund established for
the Series B Bonds, $3 , 784 . 82 .
b. ) The Resolution of Intention for this
assessment district authorizes any disposition of such surplus as
is permitted by Section 10427 of the California Streets and
Highways Code, including use of such surplus to fund maintenance
of the work and improvements of the assessment district.
c. ) The Director of Public Works has recommended
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to this Council that the $13 , 867 . 39 of Series A Bond surplus of �
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this assessment district be utilized to fund maintenance of the (�,�
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segment of Shasta View Drive constructed in this assessment p ,
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district project, and that the $3 , 784 . 82 of Series B Bond surplus �
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SF2-51594.1 1-3141-SS4-11/13/95
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be utilized to fund maintenance of the 12-inch sanitary sewer
main which was constructed in this assessment district project.
Section 2 . Surplus Declared. This City Council hereby
declares the amounts of $13 , 867 . 39 and $3 ,784 . 82 , together with
any additional interest earnings thereon, if any, to be surplus
of this assessment district.
Section 3 . Disposition of Surplus. This City Council
hereby directs that said surplus be transferred to the
appropriate fund or account of the City to fund maintenance of
the portion of Shasta View Drive and the 12-inch sanitary sewer
main which was constructed in the project for the Shasta View
Extension Assessment District No. 1990-2 , respectively, and
further directs that, upon completion of such transfer, each of
the Improvement Funds for said assessment district be closed.
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I HEREBY CERTIFY that the foregoing is a true and
correct copy of a resolution duly and regularly adopted by the
City Council of the City of Redding, Shasta County, California,
as a regular meeting thereof, held on the 21st day of November,
1995.
AYES: CouncilmembersP . Anderson , R. Anderson , McGe�raP , M��rray and
Kehoe
NOES: Councilmembers None
ABSENT: Councilmembers None
CONNIE STROHMAYER, City Clerk,
City of Redding, Shasta County,
California
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By
SF2-51594.1 2 13141-SS4-11/13/95