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RESOLUTION NO. 4770
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ARCADIA
ELECTING TO PAY 50% OF THE 1978-79 TAXES LEVIED UPON PROPERTY
WITHIN THE CITY OF ARCADIA BY THE METROPOLITAN WATER DISTRICT
OF SOUTHERN CALIFORNIA.
WHEREAS, the City Council by Resolution No. 4686 adopted December
6, 1977 declared its intention to pay 50% of the 1978-79 tax to be
levied on property within the City of Arcadia by the Metropolitan Water
District of Southern California.
WHEREAS, said District has levied a tax (net) on said property for
the 1978-79 fiscal year in the amount of $390,244.90 for the following
purposes.
1. Bonded Debt Service of the District
2. State Water Contract Levy
3. Meeting Special Taxes levied on property in the
C1,ty pursuant to Section 370 of the Metropolitan Water
District Act, as prescribed by the terms of the applicable
Resolution of the Board of Directors, fixing conditions
for annexations of such area to such District.
4. All other District purposes.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF ARCADIA THAT:
SECTION 1. The Council orders payment of $195,122.95 in
installments to the Controller of the Metropolitan Water District of
Southern California out of municipal funds of the City of Arcadia, to wit,
the Water Fund, as payment of 50% of the amount of the tax which would
otherwise be levied upon property within the City by the District for the
fiscal year commencing July I, 1978; said installments shall be made in
accordance with Resolution No. 7681 of the Board of Directors of the District
as follows:
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On or before September 7, 1978 $74,588.72 (Bonded Debt Service
of the District)
On or before December 8, 1978 $72,320.24 (For purpose Nos.
2, 3, 4 listed above)
On or before May 10, 1979 $48,213.49 (For purpose Nos.
2, 3, 4 listed above)
SECTION 2. The City Clerk of the City of Arcadia immediately shall
file with the controller of said District two certified copies 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 5th day of
September, 1978 by the affirmative vote of at least three Council Members,
to wit:
NOES:
Councilmen Gilb, Margett, Pellegrino, Saelid and
Parry.
None
AYES:
ABSENT: None
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City Clerk of the City of Arcadia
SIGNED AND APPROVED this 5th day of September, 1978.
A'ITEST:
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City Clerk
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(SEAL)
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