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RESOLUTION NO. 4431
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF ARCADIA DETERMINING THAT THE PAY-
MENTOF CERTAIN ASSESSMENTS UNDER THE
IMPROVEMENT ACT OF 1911 MAY BE MADE IN
ANNUAL INSTALLMENTS (RANCHO ROAD) .
WHEREAS, certain street lighting improvements on Rancho
Road between the Foothill Freeway and Foothill Boulevard in the
City of Arcadia have ,been made pursuant to'the Improvement Act
of 1911 and the costs thereof will be assessed against the property
adjacent to the improvements pursuant to Resolution No. 4430; 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
RESOLVES that the assessments set forth in Resolution No. 4430 may
be made in two (2) 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 shall be due and payable
one (1) year after said confirmation. The unpaid balance with
interest may be paid at anytime without penalty.
The City Clerk shall certify to the adoption of this
resolution.
I HEREBY CERTIFY that the foregoing resolution was
adopted at a regular meeting of the city Council of the City of
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4431
Arcadia held on the
21st day of
May
, 1974, by the
affirmative vote of at least three Councilmen, to wit:
AYES: Councilmen Gilb, Helms, Lauber, Saelid and
Scott
NOES: None
ABSENT: None
SIGNED AND APPROVED this
21st day of May , 1974.
G~~~
Mayor of the C1ty of Arcad1a
ATTEST:
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(SEAL)
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4431