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RESOLUTION NO. 4706
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ARCADIA DETERMINING THAT THE PAYMENT OF
CERTAIN ASSESSMENTS FOR STREET LIGHTING IM-
PROVEMENTS ALONG SAN LUIS REY ROAD UNDER THE
IMPROVEMENT ACT OF 1911 MAY BE MADE IN ANNUAL
INSTALLMENTS
WHEREAS, certain street lighting improvements along San
Luis Rey Road 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, 4707; 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. 4707 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 confir-
mation of the ass~ssments by the City Council and the first in-
stallment of principal and interest shall be due and payable one
(1) year after said confirmation. The unpaid balance with interest
may be paid at any time 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 Arcadia
held on the 17th day of January, 1978, by the affirmative vote of
at least three Council Members, to wit:
AYES: Council Members Gilb, Margett, Parry and Saelid
NOES: None
ABSENT: Council Member Lauber
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City Cler~of the City of Arcadia
-l- 4706
SIGNED AND APPROVED this 17th day of January, 1978.
(SEAL)
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4706