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HomeMy WebLinkAbout5238 RESOLUTION NO. 5238 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, DETERMINING THAT THE PAYMENT OF CERTAIN ASSESSMENTS UNDER THE IMPROVEMENT ACT OF 1911 MAY BE MADE IN ANNUAL INSTALLMENTS (VARIOUS LOCATIONS) WHEREAS, certain street improvements at various locations in the the City of Arcadia have been made pursuant to the Improvement Act of 1911 and the costs thereof wi 11 be assessed against the property adjacent to the improvements pursuant to Resolution No. 5239; and WHEREAS, it is desirable to provide for payment of any unpaid assessments in annual installments: NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, DOES HEREBY RESOLVE AS FOLLOWS: SECTION 1. That the assessments set forth in Resolution No. 5239 may be made in ten equal annual installments of principal plus interest on the unpaid balance at the rate of seven percent (7%) per annum, said interest to commence on the thirty-first day after the confirmation of the assessments by the City Council and the first installment of principal and interest sha 11 be due and payable one (1) year after said confirmation. The unpaid balance with interest may be paid at any time without penalty. SECTION 2. The City Clerk shall certify the adoption of this Resolution. Passed, approved and adopted this 16th day of July , 198 . ~~ P Tem -1- 5238 ATTEST: STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES) SS: CITY OF ARCADIA ) I, CHRISTINE VAN MAANEN, City Clerk of the City of Arcadia, hereby certify that the foregoing Resolution No. 5238 was passed JndTadopted by the City Council of the City of Arcadia, signed by the Mayor/~n~ 5ftested to by the City Clerk at a regular meeting of said Council held on the 16th day of July 1985; and that said Resolution was adopted by the following vote, to-wit: AYES: Councilmen Gilb, Hannah, Lojeski, and Young NOES: None ABSENT: Councilman Pellegrino :~~A , Clty Clerk of the Clty of Arcadla J -- - -- - .':r , ..~--- .-/ . ":" /..~ ~. . -' .... . -~< - '- ---.:~!~;:~~-:. . 5238 -2-