HomeMy WebLinkAboutReso. 1986 - 118 - Upper churn creek/hartnell avenue/henderson road reassement district no. 1986-2 411
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RESOLUTION NO. 4 —ild
RESOLUTION OF INTENTION TO CONDUCT REASSESSMENT PROCEEDINGS
IN UPPER CHURN CREEK/HARTNELL AVENUE/HENDERSON 'ROAD
REASSESSMENT DISTRICT NO. 1986-2
The City Council of the City of Redding resolves :
section 1 :
This City Council hereby determines that the public
interest or necessity requires the refunding of all outstanding
bonds previously issued as Series No . 1980-7 dated December 15 ,
1982, Upper Churn Creek Sewer Assessment District No . 1980-7;
Series No . 1980-3 dated January 4, 1982; and Series No. 1981-1
dated January 4, 1982, Henderson Road Assessment District
No . 1981-1 . This City Council hereby declares its intention to
refund said outstanding bonds and to levy reassessments pursuant
to the Refunding Act of 1984 for 1915 Improvement Act Bonds (the
"Act" ) as security for said refunding bonds .
This City Council hereby directs the Director of
Public Works of the City of Redding to prepare and file with the
City Clerk of the City of Redding a written report containing
each of the items specified by Section 9523 of the Act.
Serial bonds representing unpaid reassessments , and
bearing interest at a rate not to exceed twelve percent (12%)
per annum, will be issued in the manner provided by the Act , and
the last installment of the bonds shall mature September 2,
1998
The procedure for the collection of reassessments and
advance retirement of bonds under the Act shall be as provided °1v
in Part 11 . 1 , Division 10, of the Streets and Highways Code of N
O JIG NAL
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the State of California.
The amount of any surplus remaining after completion
of the refunding shall be transferred to the reserve fund for
the refunding bonds .
* * *
I HEREBY CERTIFY that the foregoing resolution was
duly and regularly adopted by the City Council of the City of
Redding, Shasta County, California, at a regular meeting
thereof , held on the 19th day of May, 1986.
AYES : Councilmembers Carter, Dahl , Johannessen, & Ful ton
NOES : Councilmembers None.
ABSENT: Councilmembers Gard
ABSTAIN: Councilmembers None
ETHEL A. NICHOLS , City Clerk,
City of Redding, Shasta County, California
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