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RESOLUTION NO. 4385
A RESOLUTION OF THE ,CITY COUNCIL OF THE
CITY OF ARCADIA DETERMINING THAT THE PAY-
MENT OF CERTAIN ASSESSMENTS UNDER THE
IMPROVEMENT ACT OF 1911 MAY BE MADE IN
ANNUAL INSTALLMENTS (EL NORTE AVENUE) .
WHEREAS, certain street improvements on El Norte Avenue
in the cities of Arcadia and Monrovia 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. 4386; 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. 4386 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 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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4385
Arcadia held on the 6th day of
November
, 1973, by the
affirmative vote of at least three Councilmen, to wit:
AYES:
Councilmen Hage, Helms, Scott and Arth
,NOES:
None
ABSENT:
Councilman Butterworth ~
' ~&~~ 'l/
C~ty Clerk of the C~ty 0 Arcad~a
SIGNED AND APPROVED this 6th day of November
, 1973.
(2/ ,('d~ ~
Mayor of the City of Arcadia
~ty Clerk
(SEAL)
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4385