HomeMy WebLinkAboutReso. 1979-027 In the Matter of the Acquisition of Improvements in Redbanks Subdivision Assessment District No. 1977-5, City of Redding, Shasta County, CA , w
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RESOLUTION OF ZNTENTION N0. �%- G /
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• IN THE ��TTEB OF THE ACQUISITION OF IMPROVEA7ENT5 IN
REDBANKS SUBDIVISION ASSESSMENT DISTRICT N0. 1977-5 ,
CITY OF REDDING, SHASTA COUNTY , CALIFORNIA
The City Council of the City of Redding resolves :
This City Council intends to order the following ac-
quisition of improvements under the authority of the Municipal
Improvement Act of 1913 :
Street improvements , including clearing and grubbing,
grading, curbs , gutters and sidewalks, base and finish
paving, street signs, street lighting and appurtenant
work; water distribution mains and lines, fire hydrants
and appurtenant work; storm drains , including catch
basins , manholes , drainage lines and appurtenant :woric ;
sanitary sewer mains , laterals and appurtenant work;
electrical power distribution lines and appurtenant
work; any work or facilities appurtenant to the fore-
aoing .
This Council finds that the land specially benefited by the
acquisitions is shown within the boundaries of the map entitled
"Proposed Eoundaries of Redbanks Subdivision Assessment District
1977-5, City of Redding, Shasta County, California . "
This Council intends to levy a special assessment upon the
land within the described district in accordance with the special
benefit to be received by each parcel of land, respectively, from
the acquisitions . There shall be omitted from special assessment all
public streets , alleys and places and all land belonging to the
United States, the State of California, and this City now in use in
the performance of a public function.
Serial bonds representing unpaid assessments of One Hundred
Fifty Dollars ($150 . 00) or more, and bearing interest at a rate not �
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to exceed eight percent ( 8�) per annum, will be issued in the
manner provided in the Improvement Act of 1911 (Part 5 , Division 7 ,
Streets and Highways Code) , and the last installment o£ the bonds
shall mature fourteen (14) years from the second day of January
next succeeding ��e next September lst following their date . The
bonds shall be payable to bearer and shall include a redemption premium
of five percent (58) of the unmatured principal .
In case of default, there shall be added to the defaulted
amount one percent (l�) of the amount thereof , and on the lst day
of each month following such default there shall be added a further
penalty of one percent (1B) of such defaulted amount. The one percent
(1�) penalty first imposed shall be retained by the Treasurer as a
cost of servicing the delinquency and all subsequent penalties shall
be paid to the holder of the bond along with and as a part of such
defaulted payment.
This Council finds that the Special Assessment Investigation,
Limitation and Majority Protest Act of 1931 (commencing with Section
2800, Streets and Highways Code) does not apply to these proceedings .
The amount of any surplus remaining in the improvement fund
after the completion of the improvement and payment of all claims
shall be transferred to the general fund i£. the surplus does not .
exceed the lesser of one thousand dollars ($1000) or five percent
(58) of the total amount eKpended from the fund . Otherwise the
entire surplus shall be applied as a credit on the assessment as . �
provided in Section 10427 . 1 of the Streets and Highways Code .
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I HEREBY CERTZFY that the foreaoing 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 Sth day of February, 1979 , by the following vote , to wit:
AYES: Councilmembers Fulton, Gard, Kirkpatrick, and Demsher
NOES : Councilmembers None
ABSENT: Councilmembers Pugh
MILDRED L. BRAYTON, City Clerk,
City of Redding, Shasta County,
California
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