HomeMy WebLinkAboutReso 82-206 - Respecting use of earnings on idle funds - Upper Churn Creek Sewer Assessment District No. 1980-7RESOLUTION NO. 5*,2 -.10&
RESOLUTION RESPECTING USE OF EARNINGS ON IDLE FUNDS
UPPER CHURN CREEK SEWER ASSESSMENT DISTRICT NO. 1980-7
The City Council of the City of Redding resolves:
1. The Director of Finance of the City of Redding is
hereby directed to account for earnings on the idle funds credited
to the Improvement Fund for the Upper Churn Creek Sewer Assessment
District No. 1980-7 and to provide for disbursement of such earnings
to Norman Levenson. Said earnings shall be disbursed to Norman
Levenson on account of the special obligation of the City established
by that certain agreement entitled, "Agreement for,Reimbursement of
Prescribed Sanitary Sewer System Construction Cost and Expense,"
and'approved by this Council on Monday, November 1, 1982, by
Resolution No. 82= 192.
2. The amount to be disbursed to Norman Levenson initially
shall be the amount of such earnings as established August 1, 1983,
with disbursement to be made by August 30, 1983; provided that the
amount of such disbursement shall not exceed.the amount to which
Norman Levenson is entitled under the terms of said agreement.
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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 15th
day of November, 1982, by the following vote, to wit:
AYES: Councilmembers Demsher, Fulton, Pugh, and Gard
NOES: Councilmembers None
ABSENT: Councilmembers
Kirkpatrick
ETHEL A. NICHOLS, City Clerk,
City of Redding, Shasta County,
California
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