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RESOLUTION NO. 4845
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ARCADIA DETERMINING THAT THE PAYMENT OF
CERTAIN ASSESSMENTS UNDER THE IMPROVEMENT ACT
OF 1911 MAY BE MADE IN ANNUAL INSTALLMENTS
(CQI,ORADO PLACE) .
WHEREAS, certain street improvements at Colorado Place 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. 4846; and
WHEREAS, it is desirable to provide for payment of any un-
paid assessments in annual installments:
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ARCADIA
RESOLVES that the assessments set forth in Resolution No. 4846 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 any
time without penalty.
The City Clerk shall certify to the adoption of this resolu-
tion.
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 July, 1979, by the affirmative vote of at least
three Councilmen, to wit:
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4845
AYES: Councilmen Gi1b, Parry, Pellegrino and Margett
NOES: None
ABSENT: Councilman Sae1id
City Clerk of
SIGNED AND APPROVED this 17th day of July, 1979.
~-NPA~
ayor of the City 0 Arc a
'.
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