HomeMy WebLinkAboutResolutions 86-239 N.C.S. 09/02/1986
~(~SO~ Lit1Ct-~ i~Jl~. 86-239 ~, ~, ~. ~ • ,r +
of the amity of n t~lun~~, California
RESOLUTION N0. 86-239
RESOLUTION OF LNTENTIQN TO CONDUCT REASSESSMENT PROCEEDINGS
IN REFUNDING ASSESSMENT DISTRICT N0. 14
The City Council of the City of Petaluma resolves:
This City Council hereby determines that the public
interest or necessity requires the refunding of all outstanding
bonds previously issued as Downtown Parking Facility Assessment
District No. 14, dated December 12, 1986. '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.
1 This City Council hereby directs
`~~ ~~~ ~~ //J~°c°~ to prepare and file with the
City Clerk of the City of Petaluma 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,
2005.
The procedure for the collection of reassessments and
advance retirement of bonds. under the Act shall be as provided
in Part 1.1.1, Division 10, of the Streets and Highways Code of
the State of California.
The amount of any surplus remaining after completion
OROGlL
°` ~.*
of the refunding shall be transferred to the. reserve fund for
the refunding bonds.
Under the power and authority conferred upon ibis Council by the Charter of said City.
I hereby certify the foregoing Resolution was introduced and adopted by the
Council of the Ci of Petaluma at a Re ular ~ ~ Approved a
tY ( g ) ( 1~ ~ ~) meeting form
on the ---.- 2n d_---....... day of ..... Sept emb ex ~ 86
..... - .................. 19........, by the
following vote:
• Ci izmey
AYES: Davis, Sobel, Woolsey, Cavanagh,~Balshaw~; Vice Mayor Tencer, Mayor Mattei
NOES:
ABSENT: . .
~~~~
.ATTEST: •--- -- ----------•- ---....._ -. ~....----~-----......................--•--.....----2-- ------...:--------...--1~•----------•------_..............---.........,...:..._---......._..
City Cler)t Mayor
COUNCIL FILE
FORM CA 2 IIBO RES. Nc~. (7 V -Z 39