HomeMy WebLinkAboutReso 95-262 - Declaring Surplus & Directing Disposition thereof (College Highlands Ext Assessment Dist No 1989-4) . • s
RESOLUTION NO. 95-262
RESOLUTION DECLARING SURPLUS AND
DIRECTING DISPOSITION THEREOF
(College Highlands Extension Assessment District No. 1989-4)
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 the Improvement Fund have been paid, and (iv) a
balance remains in said Improvement Fund as surplus.
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 as a credit upon the
assessment in the manner provided in Section 10427. 1 of said
Streets and Highways Code.
c. ) The Director of Public Works has recommended
to this Council that the $17, 600. 87 of surplus of this assessment
district be utilized as a credit upon the assessment in the
manner provided by said Section 10427 . 1.
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Section 2 . Surplus Declared. This City Council hereby
declares the amount of $17 , 600. 87 , together with any additional (�
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interest earnings thereon, if any, to be surplus of this �
assessment district. �o ��
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Section 3 . Disposition of Surplus. This City Council
hereby directs that said surplus be transferred to the Redemption
Fund for the College Highlands Assessment District No. 1989-4, to
be applied as a credit upon the assessment in the manner provided
by Section 10427 . 1 of the Streets and Highways Code, and further
directs that, upon completion of such transfer, the Improvement
Fund 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• Councilmembers P . Anderson , R. Anderson , McGeorge , Murray and
� Kehoe
NOES: Councilmembers None
ABSENT: Councilmembers None
CONNIE STROHMAYER, City Clerk,
City of Redding, Shasta County,
California
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By
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