HomeMy WebLinkAbout18022 - RESOLUTIONS - 1/20/1993 RESOLUTION NO. 18022
OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS, MAKING
DECLARATION REGARDING SURPLUS IN IMPROVEMENT (FUND
WHEREAS, the CITY COUNCIL of the CITY OF PALM SPRINGS, CALIFORNIA, has conducted
proceedings and completed installation for certain works of improvement in
a special assessment district pursuant to the terms and provisions of the '
"Municipal Improvement Act of 1913", being Division 12 of the Streets and
Highways Code of the State of California; said special assessment district
known and designated as ASSESSMENT DISTRICT NO. 158 (hereinafter referred
to as the "Assessment District"); and,
WHEREAS, after completion of the improvements and payvnent of all the claims
from the Improvement Fund for said Assessment District, there remains a surplus
in the Improvement Fund, and this legislative body is desirous at this time
to make the disposition of said surplus as so provided by Section 10427 of
the Streets and Highways Code of the State of California.
NOW, THEREFORE BE IT RESOLVED by the City Council of the City of Palm Springs
as follows:
Section 1. That the above recitals are all true and correct.
Section 2. That the works of -improvement, as set forth and described in the
Resolution of Intention for these proceedings, have been completed
to the satisfaction of this legislative body, and all payment
has either been made or set aside for all existing or potential
claims, costs and expenses.
Section 3. That a transfer shall be made to the General Fund of the lesser
of $1,000 or five percent (5%) of the total amount expended from
the Improvement Fund.
Section 4. That the Treasurer shall determine the pro-ratta amount each
assessment is entitled to receive based on the remaining surplus
in the Improvement Fund.
Section 5. That all surplus monies remaining in the Improvement Fund, shall
be applied as a credit to all assessments on a pro-rata basis
generally determined as follows:
A. Where any part of an individual assessment remains unpaid
and is payable in installments, the amount apportioned to
each parcel shall be credited against the next installment
and/or installments unpaid;
B. Where any assessment or installment has been paid, the credit
shall be returned in cash.
Section 6. For particulars as to the implementation and rules regarding the
credit surplus funds, reference is hereby made to Section 10427. 1
of the Streets and Highways Code of the State of California.
ADOPTED THIS 20th day of January , 1993.
AYES: Members Hodges, Lyons, Reller.-Spurgin, Schlendorf and Mayor Maryanov
NOES; None
ABSENT: None --_I
ATTEST: CITY OF PALM SPRINGS(ii
City Clerk Cit anager
REVIEWED 9 APPROVED