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HomeMy WebLinkAboutReso. 1980 - 050 - Expressing preliminary intent to form assessment district 1980-2, Mountain Lakes Industrial Park no 3 RESOLUTION NO. RESOLUTION EXPRESSING PRELIMINARY INTENT TO FORM ASSESSMENT DISTRICT AND CONDUCT SPECIAL ASSESSMENT PROCEEDINGS Mountain Lakes Industrial Park Unit No. 3 Assessment District No. 1980-2, City of Redding, Shasta County, California WHEREAS, W. Jaxon Baker and Fred M. Gerlinger, (hereafter called "Owners") , are the Owners of certain real property in the City of Redding commonly known as Mountain Lakes Industrial Park Unit No. 3, as shown on the map entitled "Tentative Map, Mountain Lakes Industrial Park Unit 3" , which is under review by the City; and WHEREAS, Owners are developing said Unit No . 3 as a further increment of said Industrial Park with fewer than 50 lots; and WHEREAS, development of said Unit No. 3 is to include construc- tion and installation by Owners of certain improvements as more fully described in the draft Environmental Impact Report for said Unit No. 3 , dated January 1980, and itemized on the preliminary cost estimate for onsite improvements attached hereto as Exhibit A and, by reference, incorporated herein; and WHEREAS, upon completion of the construction and installation of such improvements, the Owners desire to present the City with a petition and waiver for commencement of special assessment proceedings to (1) acquire the improvements which are to be owned, maintained and operated by the City, and (2) pay authorized incidental costs and expenses, including engineering expense and cost of the proceedings; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Redding as follows : 1. The City Council expresses its preliminary intent that, -1- • 1! upon satisfaction of and subject to the conditions precedent specified in Paragraph 2 below, the City will initiate and take all reasonable steps toward consummation of special assessment proceedings and issuance and sale of improvement bonds to acquire the above-described work and im- provements and to pay authorized incidental costs and expenses pertaining thereto. The proceedings will be conducted pursuant to the Municipal Improvement Act of 1913, with bonds to be issued under the provisions of the Improvement Bond Act of 1915. 2 . Initiation of the assessment district proceedings shall be expressly conditioned upon prior satisfaction of the following condi- tions precedent: a. ) Completion of the work and improvements to be acquired to the satisfaction of the Director of Public Works of the City of Redding; b. ) Satisfaction of all other conditions of approval of the tentative map for Unit No. 3; c. ) Submission of a petition and waiver in the customary form, executed by authorized representatives of the record Owners and any deed of trust beneficiaries, accompanied by a preliminary title report dated the same date as said petition and waiver, as evidence of ownership and of the existence of deeds of trust; d. ) Preparation and submission of a proposed boundary map and an engineer ' s report as required by said 1913 Act and subject to review and approval by the Director of Public Works and bond counsel for City. e. ) Submission of a written commitment for purchase of the 1915 Act bonds in a form and on terms satisfactory to the Director of -2- III Finance of the City of Redding and bond counsel;I f. ) Submission of evidence satisfactory to the Director of Finance and the Director of Public Works to establish that the ratio of the amount of assessments to be levied shall not exceed one-third of the fair market value of any lot or parcel to be assessed in the after- improved condition. 3 . The determination of the actual allowable cost of the work and improvements to be acquired and the allowable incidental cost and expense of the proceedings shall be made by the Director of Public Works, who may require the Owners to provide such information as he deems reasonable and necessary to such determination. It is expressly understood that the limits prescribed by Section 10204 . 1 of said 1913 Act shall apply. 4 . In anticipation of the possibility that the Owners may arrange to have institutional lending to finance construction of the work and improvements to be acquired, it is expressly understood that, prior to delivery of the proposed improvement bonds, the Owners will provide assurances satisfactory to the Director of Finance and bond counselthat such interim financing shall be paid from bond sale proceeds . * * * 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 17th day of March, 1980. AYES: Councilmembers Kirkpatrick, Pugh, and Fulton NOES : Councilmembers None ABSENT: Councilmembers Gard and Demsher MILDRED L. BRAYTON, City Clerk, City of Redding, Shasta County, Caifornia I -3- • • N N N F' F-• I-' -. N F' F' F. I•. . N F' c) co co C1 u . W N h' 0 %.0 Co J ON VI Jt. W t. H Q • /\` l i ! n cn to 4 to W W cn PmCo CO to x a% r. co n Or. 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